United Community Banks Completes Merger with Reliant Bancorp
JAN 4, 2022 - 6:27 am
On Jan. 1, United Community Banks completed its merger with Reliant Bancorp, including its wholly-owned subsidiary, Reliant Bank, which was merged with and into United’s bank subsidiary, United Community Bank, and will now operate under the United brand.
Reliant Bancorp operates a 24-branch network primarily in the Nashville, TN, area, as well as Clarksville, TN, and Chattanooga, TN. Additionally, Reliant Bancorp operates a manufactured housing finance group based in Knoxville, TN. As of Sept. 30, 2021, Reliant Bancorp reported total assets of $3 billion, total loans of $2.5 billion and total deposits of $2.5 billion.
“We are excited and honored to welcome this group of outstanding bankers to the United team. Reliant shares our passion for providing a high level of community partnerships and involvement, employee satisfaction and customer service,” Lynn Harton, chairman and CEO of United Community Banks, said. “Chairman and chief executive officer DeVan Ard founded Reliant in 2006 and has led the company’s success by focusing on relationship banking in one of the Southeast’s best markets, and we look forward to continuing to execute and expand on this strategy together.”
“We are excited that by joining United we are able to continue with the community service and relationship banking principles that built this company,” Ard said. “We have tremendous momentum and know that this will continue and that future growth opportunities will accelerate with United. It is clear to me that we share a common culture, values and approach to serving our customers and communities. Together we will now be able to better serve our customers with a larger balance sheet and expanded products and services, which provides a tremendous opportunity to grow in Nashville and other key markets in Tennessee. I am very proud to be a part of the United team and to lead that effort as the state president in Tennessee for United.”
D.A. Davidson, Morgan Stanley and Piper Sandler acted as financial advisors and Nelson Mullins Riley & Scarborough served as legal advisor to United Community Banks. Raymond James & Associates and Credit Suisse Securities served as financial advisors and K&L Gates served as legal advisor to Reliant Bancorp.
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