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Troutman Sanders Counsels United Community Banks on HCSB Financial Corporation Acquisition

04.24.17

ATLANTA, April 24, 2017 - Troutman Sanders LLP advised United Community Banks, Inc. (NASDAQ: UCBI) in its definitive agreement to acquire Loris, S.C.-based HCSB Financial Corporation and its wholly-owned subsidiary, Horry County State Bank.

Based in Blairsville, Ga., $10.7 billion-asset United will pay $66 million in an all-stock transaction that is expected to close in the third quarter of the year. As part of the transaction, HCSB shareholders will receive merger consideration consisting of 100 percent stock with a fixed exchange ratio of .0050 shares of United common stock for each share of HCSB.

Troutman Sanders partner James Stevens, associate Brendan Thomas and attorneys from our employee benefits, real estate, tax and other sections advised United on the deal. Detailed information on the transaction can be found here.

About Troutman Sanders’ Financial Institutions Practice

Troutman Sanders’ Financial Institutions Practice has a long history of service to financial institutions. Its lawyers have substantial experience in mergers and acquisitions, public and private offerings, de novo formations, securities reporting, corporate governance and regulatory compliance and negotiations. According to S&P Global Market Intelligence data, since January 1, 2013, Troutman Sanders has advised on more M&A transactions involving companies acquired in its primary market area – Georgia, Virginia and the Carolinas – than any other law firm.

About Troutman Sanders LLP

Troutman Sanders LLP is an international law firm with more than 650 lawyers in 16 offices located throughout North America and Asia. Founded in 1897, the firm’s lawyers provide counsel and advice in practically every aspect of civil and commercial law related to the firm’s core practice areas: Corporate, Energy and Industry Regulation, Finance, Litigation and Real Estate. Firm clients range from multinational corporations to individual entrepreneurs, federal and state agencies to foreign governments, and non-profit organizations to businesses representing virtually every sector and industry. See troutmansanders.com for more information.

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