United Bancorporation of Alabama, Inc. reports recurring developments tied to its role as a financial holding company and parent of United Bank and UB Community Development. News commonly covers quarterly and annual earnings, net interest margin, asset quality, loan-loss provisioning, and income from New Markets Tax Credits and other community-development activities.
The company’s updates also address capital actions such as semiannual dividends, common-stock repurchases, and balance-sheet management. Its business is centered on banking services in Southwest Alabama and Northwest Florida, alongside CDFI-related economic development, affordable housing, and community facilities programs.
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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