Progress Financial merges with United Community Banks

United will acquire Progress in an all-stock transaction valued at $271.5 million

Progress Bank’s branch in Madison. Huntsville-based Progress Financial Corp., parent of Progress Bank & Trust, is being acquired by United Community Banks Inc., of Greenville, South Carolina, in an all-stock transaction with a value of approximately $271.5 million, or $23.52 per share of Progress common stock, based on United’s closing stock…

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