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United Community to sell a high-achieving equipment-finance unit

Selling Navitas will shrink UCB's loan portfolio in the short-term, but the company hopes to fill the gap quickly through organic growth and possible M&A.

https://www.americanbanker.com/news/united-community-to-sell-a-high-achieving-equipment-finance-unit

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United Community to sell a high-achieving equipment-finance unit

CEO Lynn Harton said his Greenville, South Carolina-based bank struggled the past year to keep Navitas from overshooting the limit the bank set for its expanding portfolio, about 10% of total loans.

American Banker