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United Community Banks discloses sale of common stock by largest shareholder

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United Community Banks discloses sale of common stock by largest shareholder

Blairsville,Ga.-based United Community Banks Inc.disclosed the sale of 7,300,047 voting shares of its common stock by , its largestshareholder, in an underwritten registered public offering, according to a newsrelease.

Corsair Capitalwill receive all the net proceeds of the offering and will no longer own sharesof common stock in the company after the sale. United Community Banks clarifiedit is not selling its own shares.

The releasenoted that J.P. Morgan Securities LLC is the lone underwriter in the public offering.