SOURCE: United Community Banks, Inc.

August 22, 2005 08:00 ET

United Community Banks, Inc. Announces a New Dividend Reinvestment and Share Purchase Plan

BLAIRSVILLE, GA -- (MARKET WIRE) -- August 22, 2005 -- United Community Banks, Inc. (NASDAQ: UCBI), Georgia's third-largest bank holding company, today announced that it has introduced a Dividend Reinvestment and Share Purchase Plan (DRIP). Under the plan, shareholders of record can voluntarily reinvest all or a portion of their cash dividends into shares of United stock, as well as purchase additional stock through the plan for cash.

"We are pleased to offer our shareholders this plan," said Jimmy Tallent, President and Chief Executive Officer. "This is a cost-effective way for our shareholders to continue to invest in United Community Banks without paying a brokerage commission, fee or service charge while we raise additional capital."

Under terms of the plan, shareholders of record may invest all or part of their cash dividends in United Community Banks, Inc. stock. They also may make cash purchases of United stock through the Plan with a minimum cash purchase of $25, not to exceed $30,000 per quarter. Participation in the plan is entirely voluntary. Reinvested cash dividends and voluntary cash contributions will be used by the Plan administrator to purchase common stock directly from United, or at United's discretion, in the open market.

Shareholders interested in participating in this Plan should complete an Enrollment Card and return it to United's transfer agent. Further information, including a Prospectus and Enrollment Cards, are available within the Investor Relations section of United Community Banks web site, ucbi.com.

About United Community Banks, Inc.

Headquartered in Blairsville, United Community Banks is the third-largest bank holding company in Georgia. United Community Banks has assets of $5.5 billion and operates 24 community banks with 85 banking offices located throughout north Georgia, metro Atlanta, coastal Georgia, western North Carolina and east Tennessee. The company specializes in providing personalized community banking services to individuals and small to mid-size businesses in its markets. United Community Banks also offers the convenience of 24-hour access to its services through a network of ATMs, telephone and on-line banking. United Community Banks common stock is listed on the Nasdaq National Market under the symbol UCBI. Additional information may be found at the company's web site, ucbi.com.

Contact Information

  • For more information:
    Rex S. Schuette
    Chief Financial Officer
    (706) 781-2265
    Email Contact