Welcome to our dedicated page for United Bancorpt news (Ticker: UBAB), a resource for investors and traders seeking the latest updates and insights on United Bancorpt stock.
United Bancorporation of Alabama, Inc. (OTCQX: UBAB) regularly issues news updates that provide insight into its commercial banking operations and community development activities. As the parent company of United Bank and UB Community Development, and with United Bank designated as a Community Development Financial Institution (CDFI), its announcements often combine traditional financial reporting with information about regional impact in Southwest Alabama and Northwest Florida.
Visitors to this news page can review company-issued press releases covering quarterly and annual financial results, including net income, earnings per share, net interest margin, and credit quality indicators such as nonperforming assets. The company also reports on capital management actions, such as semiannual cash dividends, stock repurchase programs, and specific repurchase transactions involving shares held by employee benefit plans.
Because of its CDFI status and focus on community development, United Bancorporation of Alabama, Inc. also publishes news about awards and allocations from federal community development programs. These include Capital Magnet Fund awards and New Markets Tax Credits allocations that support affordable housing, community facilities, and broader economic development projects in its service areas and surrounding regions.
In addition, the company’s news flow may include updates on organizational changes within its subsidiaries, such as bank mergers within the group, and highlights of major community development milestones. Investors, analysts, and community stakeholders can use this page to follow how United Bancorporation of Alabama, Inc. reports its financial performance, capital decisions, and community-focused initiatives over time.
United Bancorporation of Alabama (OTCQX: UBAB) reported financial results for Q3 2024. The company's unaudited consolidated net income reached $20.0 million ($5.63 per share) for the nine months ended September 30, 2024, compared to $21.2 million ($5.88 per share) in the same period last year. For Q3 2024, net income was $5.6 million ($1.57 per share), down from $7.1 million ($1.99 per share) in Q3 2023. Key highlights include the merger of Town Country United Bank into United Bank, $10.3 million in CDFI program awards, $65 million in NMTC allocation, and a net interest margin of 4.52%.
United Bancorporation of Alabama (OTCQX: UBAB) has reported strong financial results for Q2 2024. The company's unaudited consolidated net income reached $14.3 million, or $4.01 per share, for the first half of 2024, up from $14.0 million ($3.88 per share) in the same period last year. For Q2 2024 alone, net income was $8.0 million ($2.26 per share), compared to $7.3 million ($2.02 per share) in Q2 2023.
Key highlights include a net interest margin of 4.47%, cost of funds at 1.37%, and impressive year-over-year loan growth of $54.3 million (6.9%). The bank also reported noninterest income of $9.2 million for the quarter, demonstrating solid performance across multiple revenue streams.
United Bancorporation of Alabama (OTCQX: UBAB) has announced a semiannual dividend of $0.50 per share. The dividend will be payable on July 16, 2024, to stockholders of record as of June 30, 2024. United Bancorporation is a $1.4 billion financial holding company that serves Southwest Alabama and Northwest Florida. It operates as a Community Development Financial Institution (CDFI) and includes United Bank, Town-Country United Bank, and UB Community Development, focusing on economic and community development. United Bank has 20 locations across five counties, while Town-Country United Bank serves Wilcox County and surrounding areas. UB Community Development engages in New Markets Tax Credits, affordable housing, and community facilities programs.
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