08:31 AM EST, 12/03/2024 (MT Newswires) -- United Community Banks ( UCB ) and ANB Holdings said Tuesday they have reached a merger deal under which United will acquire ANB and its American National Bank unit in an all-stock transaction of roughly $80 million in aggregate value.

Under the terms of the agreement, ANB shareholders will get 1.650 shares of United's common stock for each ANB outstanding common share, the companies said.

The boards of United and ANB have unanimously approved the merger, which is expected to be completed in Q2 2025, according to the companies.

The transaction is anticipated to be accretive to United's earnings by about $0.04 per share in 2026, the companies added.