(Edit: Answer was rewritten - see history for details)
The task that is indicated in the example image may in fact be a bit tricky: Namely, having multi-line text. But one simple solution here is to use a JLabel and a CellRendererPane for rendering the text, because it also supports HTML. So for a title like
String title = 
    "<html><font size=4>This <font color=#FF0000><b>Text</b></font><br>" +
    "with line breaks<br>" +
    "will be the title</font></html>");
with line breaks and colors and a dedicated font size, one can obtain the appropriate image:

Here is an example showing how this may be achieved:
import java.awt.Color;
import java.awt.Graphics2D;
import java.awt.image.BufferedImage;
import java.io.FileInputStream;
import java.io.FileOutputStream;
import java.io.IOException;
import java.io.InputStream;
import java.io.OutputStream;
import javax.imageio.ImageIO;
import javax.swing.CellRendererPane;
import javax.swing.ImageIcon;
import javax.swing.JFrame;
import javax.swing.JLabel;
import javax.swing.SwingUtilities;
public class TitleAdder
{
    public static void main(String[] args)
    {
        addTitle("yS2aQ.png", "output.png", 
            "<html><font size=4>This <font color=#FF0000><b>Text</b></font><br>" +
            "with line breaks<br>" +
            "will be the title</font></html>");
    }
    private static void addTitle(
        String inputFileName, String outputFileName, String title)
    {
        try (InputStream in = new FileInputStream(inputFileName);
             OutputStream out = new FileOutputStream(outputFileName))
        {
            BufferedImage sourceImage = ImageIO.read(in);
            BufferedImage targetImage = 
                addTitle(sourceImage, title);
            ImageIO.write(targetImage, "png", out);
            // Show the image, for testing
            show(targetImage);
        }
        catch (IOException e)
        {
            e.printStackTrace();
        }
    }
    private static BufferedImage addTitle(
        BufferedImage sourceImage, String title)
    {
        JLabel label = new JLabel(title);
        label.setBackground(Color.WHITE);
        label.setForeground(Color.BLACK);
        label.setOpaque(true);
        int titleHeight = label.getPreferredSize().height;
        int height = sourceImage.getHeight() + titleHeight;
        BufferedImage targetImage = new BufferedImage(
            sourceImage.getWidth(), height, BufferedImage.TYPE_INT_ARGB);
        Graphics2D g = targetImage.createGraphics();
        SwingUtilities.paintComponent(g, label, new CellRendererPane(), 
            0, 0, sourceImage.getWidth(), titleHeight);
        g.drawImage(sourceImage, 0, titleHeight, null);
        g.dispose();
        return targetImage;
    }
    private static void show(final BufferedImage image)
    {
        SwingUtilities.invokeLater(new Runnable()
        {
            @Override
            public void run()
            {
                JFrame f = new JFrame();
                f.getContentPane().add(new JLabel(new ImageIcon(image)));
                f.pack();
                f.setLocationRelativeTo(null);
                f.setVisible(true);
            }
        });
    }
}