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.
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United Bancorporation of Alabama reported its financial results for the year ending December 31, 2022, showing a net income of
United Bancorporation of Alabama (OTCQX: UBAB) declared a semiannual dividend of $0.22 per share on Dec. 13, 2022, payable on January 17, 2023 to shareholders of record as of December 31, 2022. This financial holding company, valued at $1.2 billion, serves Southwest Alabama and Northwest Florida with its subsidiaries: United Bank, Town-Country United Bank, and UB Community Development. As a Community Development Financial Institution, it strives to foster economic growth in underserved areas.
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UB Community Development, a subsidiary of United Bancorporation of Alabama, has received a $45 million New Markets Tax Credit (NMTC) allocation from the U.S. Department of the Treasury. This award is part of a total of $315 million across four awards, aimed at enhancing economic vitality in low-income communities in Alabama and Florida. The NMTC program seeks to stimulate private investment and economic growth in underfunded areas, focusing on creating jobs and supporting essential services in these regions.
United Bancorporation of Alabama (OTCQX: UBAB) reported its financial results for the period ended September 30, 2022. The company posted a consolidated net income of $13.5 million or $3.68 earnings per share (EPS) for the nine months, down from $15.2 million or $4.07 EPS in the same period last year. For Q3 2022, net income was $5.6 million with an EPS of $1.58, an increase from $3.3 million or $0.89 EPS in Q3 2021. The company saw a 17.2% increase in assets, totaling $1.3 billion.
United Bancorporation of Alabama reported Q2 financial results, showing net income of $4.9 million and earnings per share of $1.36, down from $8.3 million and $2.22 the previous year. Year-to-date, net income is $7.8 million versus $11.9 million in 2021. Total assets increased by 22.1% to $1.2 billion, with a 20.0% rise in loans and 72.5% in securities. The net interest margin improved to 3.58%. A dividend of $0.18 was declared, showing a yearly increase. Stock repurchase totaled $5.4 million.
United Bancorporation of Alabama has secured a $123 million investment from the U.S. Department of the Treasury as part of the Emergency Capital Investment Program (ECIP). This funding aims to enhance lending to underserved, low-income, and minority communities. The ECIP is designed to support community financial institutions, providing up to $9 billion for small businesses and consumers impacted by the COVID-19 pandemic. United Bancorporation operates as a Community Development Financial Institution (CDFI) with a focus on economic growth in Southwest Alabama and Northwest Florida.
United Bancorporation of Alabama reported a net income of $2.8 million for Q1 2022, down from $3.5 million in Q1 2021. Earnings per share decreased to $0.76 from $0.96. Total assets grew to $1.2 billion, reflecting a 26.2% increase year-over-year. Loans and securities saw significant growth, up 20.5% and 75.6% respectively. However, shareholder equity experienced a 9.6% decline due to unrealized losses in the securities portfolio. Regulatory capital ratios remain strong with tier one capital ratio at 14.2% as of March 31, 2022.
United Bancorporation of Alabama has announced a new stock repurchase program, allowing the company to buy back up to 188,298 shares, which represents approximately 5% of its outstanding common stock. This program replaces the previous one that expired in November 2021. Repurchases will depend on market conditions and the company's financial performance. As of February 28, 2022, United Bancorporation reported total assets of $1.18 billion, loans of $653.5 million, and total deposits of $1.05 billion.
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