The acquisition includes approximately $25 million of loans, $6 million of other assets and BCI’s employees.
“We are pleased to welcome the customers and employees of BCI to United Community Bank,” said Lynn Harton, president and chief operating officer of United Community Bank, in a news release. “The addition of BCI’s experienced team and its strong lending platform is a natural expansion of our SBA lending business that ultimately benefits our customers.”
BCI will operate under the name BCI Lending as a division of United Community Bank in Columbia and throughout Georgia, North Carolina, South Carolina and Tennessee.
BCI Lending offers commercial loans of $50,000 to $5 million to small businesses and specializes in Small Business Administration (SBA) and U.S. Department of Agriculture (USDA) loans.