United Community Banks completed the acquisition of Palmetto Bancshares for $241m.

United Community Banks, the bank holding company for United Community, completed the acquisition of Palmetto Bancshares, a bank holding company for The Palmetto Bank, a 108-year old community bank that is the third largest banking institution headquartered in South Carolina, for $241m. "We are very pleased to join forces with The Palmetto Bank. The Palmetto Bank is a well-established, highly respected community bank that serves customers with focus and dedication, just as United does. We welcome their customers and employees to the United family, and believe our combined company has outstanding growth potential," Jimmy Tallent, United Chairman and CEO.