KBW Comments On UCBI Common And Convertible Preferred Stock

United Community Banks, Inc. UCBI had several significant developments after the close last night as the company finally unveiled its capital plan, KBW reports.

“UCBI raised $380 million in common and convertible preferred stock at $1.90 per share and announced the plans to accelerate the sale of $435 million in problem assets for about another 52% in losses,” KBW writes.

United Community Banks closed Wednesday at $1.53.