Portfolio sale, capital actions and deposit commentary

United Community Banks agreed to sell equipment-finance subsidiaries. The stock purchase agreement covers Navitas Credit Corp. and NLFC Reinsurance Corp., with purchaser funds managed by Wafra Inc. paying $1.9 billion in cash. The filing frames the action as a signed sale agreement, not a completed transaction.

BNY Mellon will redeem Series H preferred stock and FB Bancorp authorized a buyback. BNY Mellon's redemption covers 5,825 shares of Series H noncumulative perpetual preferred stock and related depositary shares, with payment due June 22, 2026 at $1,000 per depositary share. FB Bancorp's third stock repurchase program authorizes purchases of up to 1,606,837 shares, about 10% of outstanding common stock, subject to market conditions and a 10b5-1 trading plan.

PNC, U.S. Bank and Truist downplayed AI deposit churn. Executives at a Morgan Stanley investor conference said agentic AI-driven cash optimization is not materially changing retail deposit behavior; Banking Dive reported that PNC CEO Bill Demchak dismissed AI as the driver of cash movement, U.S. Bank CEO Gunjan Kedia called the risk narrative overblown, and Truist’s CFO described the concern as conceptual.

Tricolor investor suit was dismissed against three banks. A federal judge dismissed the lawsuit against JPMorgan Chase, Barclays and Fifth Third tied to subprime auto lender Tricolor, whose investors had alleged the banks missed red flags before its bankruptcy and a double-pledging scheme. The court did not give a specific reason and said an opinion explaining the ruling would issue later.