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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.
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United Bancorporation of Alabama reported its financial results for the year ending December 31, 2022, showing a net income of $18.6 million and earnings per share (EPS) of $5.11, compared to $18.5 million or $4.87 EPS in the previous year. In Q4 2022, the company achieved net income of $5.1 million with EPS at $1.43, up from $3.2 million and $0.87 EPS last Q4. Highlights include a loan growth of $26.9 million, a net interest margin of 4.23% for Q4, and strong capital ratios, positioning the company favorably in the financial sector.
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.