AQFH - United Community Banks to acquire Aquesta Financial for $131M

United Community Banks (UCBI) and Aquesta Financial (AQFH) announced a definitive agreement for United to acquire Aquesta, including its wholly-owned subsidiary, Aquesta Bank.As of Mar. 31, 2021, Aquesta reported total assets of $752M, with total loans of $576M; additionally, $586M, or 92%, of its deposit base consists of non-CD core deposits.The transaction value is estimated at ~$131M, including ~$12M in value for outstanding options and warrants to acquire Aquesta common stock.The transaction structure includes an election for Aquesta stockholders to receive their consideration in cash, subject to a limitation that no more than 30% of the total consideration paid by United will be in cash.The acquisition is expected to be accretive to United's EPS by ~$0.06 to $0.09 in 2022.Transaction is expected to be closed in Q4.

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United Community Banks to acquire Aquesta Financial for $131M