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EX - 99.1 3 tm2122201d1_ex99-1.htm EXHIBIT 99.1 U United UNITED COMMUNITY BANKS , INC . " For Immediate Release For more information : Jefferson Harralson Chief Financial Officer ( 864 ) 240-6208 Jefferson Harralson@ucbi.com Exhibit 99.1 UNITED COMMUNITY BANKS , INC . AND RELIANT BANCORP , INC . , THE PARENT OF RELIANT BANK , ANNOUNCE MERGER AGREEMENT GREENVILLE , SC and BRENTWOOD , TN – July 14 , 2021 – United Community Banks , Inc. ( NASDAQGS : UCBI ) ( “ United ” ) and Reliant Bancorp , Inc. ( NASDAQCM : RBNC ) ( “ Reliant ” ) announced today the execution of a definitive merger agreement pursuant to which United will acquire Reliant , and its wholly - owned subsidiary , Reliant Bank ( the " Merger ” ) , in an all - stock transaction with an aggregate value of approximately $ 517 million , or $ 30.58 per share of Reliant common stock , based on United's closing stock price of $ 31.07 on July 13 , 2021 . Reliant is headquartered in Brentwood , Tennessee , a fast - growing suburb of Nashville , Tennessee . It is a highly - valued franchise with an experienced management team led by Chairman and Chief Executive Officer DeVan Ard , Jr. , who founded Reliant Bank in 2006. Reliant provides outstanding customer service , and develops deep and long - lasting relationships through its 25 branch network in Tennessee , located primarily in the Nashville area's most attractive markets . Reliant operates four branches in Clarksville , one branch in Chattanooga , and has a manufactured housing finance group based in Knoxville . As of March 31 , 2021 , Reliant reported total assets of $ 3.1 billion , total loans of $ 2.4 billion , and total deposits of $ 2.6 billion . Following the closing of the Merger , we project United will be ranked 10 th in Tennessee for deposit market share . 1