United Community Banks, Inc. Reports Third Quarter Results
United Community Banks, Inc. (UCB)
Company Research
Source: GlobeNewswire
GREENVILLE, S.C. , Oct. 23, 2024 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced net income for the 2024 third quarter of $47.3 million and pre-tax, pre-provision income of $74.2 million. The result included the previously announced strategic decision to sell $318 million in manufactured housing loans, which negatively impacted the quarter by $21.4 million after-tax, or $0.18 per share. Diluted earnings per share of $0.38 for the quarter represented a decrease of $0.01, or 3%, from the third quarter a year ago and a decrease of $0.16, or 30%, from the second quarter of 2024. On an operating basis, United’s diluted earnings per share of $0.57 was up 27% from the year-ago quarter. The primary drivers of the increased earnings per share year-over-year were higher net interest income and a lower provision for credit losses. The $0.57 result includes a $9.9 million Hurricane Helene related loan loss provision to increase the reserve on $383 millio
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UCB
News
- United Community Banks, Inc. and ANB Holdings, Inc., the Parent of American National Bank, Announce Merger AgreementGlobeNewswire
- United Community Banks, Inc. Announces Quarterly Cash Dividend on Common and Preferred StockGlobeNewswire
- United Community earns 8th consecutive recognition as one of the Best Banks to Work ForPR Newswire
- United Community Banks: Too Rich For My Blood [Seeking Alpha]Seeking Alpha
- United Community Banks, Inc. (NASDAQ: UCB) had its price target lowered by analysts at Piper Sandler from $29.00 to $28.00. They now have a "neutral" rating on the stock.MarketBeat
UCB
Earnings
- 10/23/24 - Miss
UCB
Sec Filings
- 12/3/24 - Form 425
- 12/3/24 - Form 8-K
- 11/19/24 - Form 4
- UCB's page on the SEC website