Corsair Capital has sold its entire stake in United Community Banks in Blairsville, Ga.
The $9.8 billion-asset United said in a press release Monday that Corsair sold about 7.3 million shares of stock to J.P. Morgan Securities. Based on United’s closing price Monday, the shares had a value of $148 million.
Corsair had been United's biggest shareholder with a roughly 10% stake, including 4.9% of the company's voting stock it held after selling 3 million voting shares late last year.
Corsair first invested in United in 2011, when it led a $385 million investment that gave the firm a 22% stake in the company.