Nashville – Global law firm K&L Gates LLP has served as legal counsel to Reliant Bancorp, Inc. (Nasdaq: RBNC) in connection with Reliant’s entry into a definitive merger agreement with United Community Banks, Inc. (Nasdaq: UCBI) providing for United’s acquisition of Reliant and its wholly owned bank subsidiary, Reliant Bank, in an all-stock transaction valued at approximately $517 million. The merger, which is subject to customary conditions, is expected to be completed in the first quarter of 2022.
Nashville partner Adam Smith is leading the team advising Reliant, assisted by David Bartz, Rikki Sapolich-Krol, Leann Walsh, Randy Clark, Tad J. Macfarlan, David Forney, Greg Parker, Spencer Green, Sharon Carroll, Evelyn Norton, Jessie Lu, and Bari Ray.
Reliant is the Brentwood, Tennessee-based financial holding company for Reliant Bank, which operates 25 banking centers in the state of Tennessee. As of March 31, 2021, Reliant had approximately $3.1 billion in total consolidated assets, approximately $2.4 billion in loans, and approximately $2.6 billion in deposits.
United, which has approximately $18.6 billion in total consolidated assets and operates 161 offices in Florida, Georgia, North Carolina, South Carolina, and Tennessee, is a financial services company that provides a full range of banking, wealth management, and mortgage services for businesses and consumers. United also has a national SBA lending franchise and a national equipment lending subsidiary.
K&L Gates’ corporate practice is one of the most substantial in the legal industry, with more than 500 lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.