Overview
Update: The deal announced in February 2023 has been completed. Click on the article below to read more about this transaction.
- Yahoo Finance Press Release (July 3, 2023)
February 16, 2023 - First Miami Bancorp, Inc. Press Release
The BFKN Financial Institutions Group served as legal counsel to First Miami Bancorp, Inc. (“First Miami”) (OTC: FMIA) in its execution of a definitive merger agreement with United Community Banks, Inc. (“United”) (NASDAQ: UCBI) pursuant to which United will acquire First Miami, and its wholly-owned subsidiary, First National Bank of South Miami, in an all-stock transaction valued at approximately $115.9 million.
First Miami is headquartered in South Miami, Florida and is majority owned by the Chicago-based Wirtz family. As of December 31, 2022, First Miami had total assets of approximately $1.0 billion, total loans of $594 million, and total deposits of $867 million.
The Merger is expected to be completed in the third quarter of 2023 and is subject to customary conditions, including regulatory approval as well as the approval of First Miami’s shareholders.
BFKN’s legal team was led by Financial Institutions Group co-chair Robert M. Fleetwood, partner Joseph T. Ceithaml and associate Zoe Xiuha Uvin. Partner Andrew K. Strimaitis and associate Alex Freund advised on executive compensation and benefit matters. Associate Corwin J. Carr advised on labor & employment considerations and partners Michael J. Towne and Alice Lin advised on tax considerations related to the merger agreement.
To read more about this announced merger transaction, visit:
- https://www.globenewswire.com/news-release/2023/02/13/2607144/0/en/United-Community-Banks-Inc-and-First-Miami-Bancorp-Inc-Announce-Merger-Agreement.html
- https://www.wsj.com/articles/united-community-banks-inc-and-first-miami-bancorp-inc-announce-merger-agreement-71434c56
About Our Financial Institutions Group
Our 30+ attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled—over the past 5 years we were the #3 legal advisor in the U.S. and #1 in the Midwest by announced bank and thrift M&A transactions—according to S&P Global Market Intelligence. The Financial Institutions Group was once again honored with a Nationwide Band 4 ranking by Chambers USA as well as being named one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2023 report.
