Sheshunoff Consulting and Solutions has acquired the consulting subsidiary of United Community Banks Inc. in Blairsville, Ga.
The $8.3 billion-asset United Community Banks founded Brintech as a technology consulting firm in 1993, and soon after expanded its offerings to issues that affect community banks.
Brintech — based in Austin and with offices in Atlanta, Los Angeles and Orlando — advises banks on strategy, performance improvement and profit enhancement.
"I am delighted Brintech is joining us," Gabrielle Sheshunoff, Sheshunoff's president and chief executive officer, said in a press release Monday. "And the opportunity to have additional talent in multiple locations throughout the country means we will be better positioned to serve our clients."
Hal Oswalt, Brintech's president and CEO, will become the president of Sheshunoff's risk division.
Mack Wood rejoined Sheshunoff in early 2009 as the managing director of consulting solutions, overseeing four areas of the consulting business. Wood will continue as managing director.
The deal price was not disclosed.
United Community reported losses of more than $300 million in the past two years, largely as a result of problems in its construction loan portfolio. Its capital ratios at the end of 2009 were: leverage, 8.5%; Tier 1 risk-based, 12.4%; and total risk-based, 15.1%.
United Community executives were not available for comment Thursday.
Sheshunoff, of Austin, has had many community banking clients in its more than 35 years in the consulting business. It focuses on helping financial clients improve profits and risk management, among other things.
