Georgia bank pays off TARP | www.ajc.com

United Community Banks, Inc. has redeemed all of its preferred stock issued as part of the government’s Troubled Asset Relief Program.

The $180 million TARP redemption, and the end of informal memorandums of understanding with regulators that limited what the third-largest Georgia-based bank could do, will have “substantial impact” on UCBI’s performance, president and CEO Jimmy Tallent said in a Thursday statement.

via Georgia bank pays off TARP | www.ajc.com.