Business Context and Reporting Period
Company: United Community Banks, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 15, 2025
Event: Announcement of the redemption of all outstanding shares of 6.875% Series I Non-Cumulative Perpetual Preferred Stock.
Key Financial Metrics
This filing reports a specific capital transaction rather than periodic operating results. Key financial figures related to the event include:
- Aggregate Liquidation Preference: $88 million.
- Redemption Price: $25,000 per share of Preferred Stock.
- Depository Shares Redeemed: 3,661,650 shares (each representing a 1/1000th interest in a share of Preferred Stock).
- Operating Metrics: The filing text does not provide values for revenue, profit, cash flow, margins, or total debt.
Material Changes
The primary material change is the scheduled elimination of the Series I Preferred Stock from the company's capital structure. This action will result in a cash outflow of $88 million on the Redemption Date. The filing does not provide comparative data against prior periods for operating metrics.
Guidance, Outlook, and Risks
- Redemption Date: September 15, 2025.
- Dividend Status: A previously declared dividend payment is excluded from the Redemption Price and will be paid to holders of record immediately prior to the redemption.
- Termination of Rights: As of the Redemption Date, all rights of the holders of Preferred Stock and Depository Shares shall cease and terminate, except for certain expressly surviving rights.
- Process: Redemption will be executed through the Depository Trust Company (DTC) with payment made by Continental Stock Transfer & Trust Company.
Investor Verification Checklist
- Verify the $88 million cash outflow impact on the company's liquidity position as of September 15, 2025.
- Confirm the payment of the previously declared dividend separate from the redemption price.
- Review the attached press release (Exhibit 99.1) for any additional commentary on capital allocation strategy.
- Check subsequent filings for the updated capital structure post-redemption.