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. 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, Inc. (OTCQX: UBAB) reported strong financial results for Q2 2021, with a net income of $11.9 million and earnings per share of $3.18. This reflects a significant increase from $8.3 million and $2.24 in the same period last year. Total assets surpassed $1 billion, growing by 14.3%, while total loans rose by 11.6% to $571.6 million. Deposits increased by 14.4% to $882.1 million. Despite a decline in net interest margin to 3.49%, the company's capital positions remain robust with tier one ratios exceeding regulatory requirements.
United Bancorporation of Alabama (OTCQX: UBAB) released its 2020 Annual & Impact Report, showcasing strong financial performance during the pandemic. Key highlights include record high income, a $6 million Capital Magnet Fund award, and a $799,000 Financial Assistance award. The company also announced plans to acquire Town-Country National Bank, which has $126.2 million in assets as of December 31, 2020. CEO Bob Jones emphasized the importance of diverse income sources for stability and growth.
United Bank, a subsidiary of United Bancorporation of Alabama (OTCQX: UBAB), has secured an $8 million award from the U.S. Treasury's Capital Magnet Fund. This award is one of the largest granted to a single entity and will support the development of affordable housing for low-income families. In addition, since 2016, the institution has received $185 million in New Markets Tax Credit allocations, enhancing community development efforts in Alabama and Florida. United Bank's commitment as a Community Development Financial Institution aids its mission to improve local economies.
United Bancorporation of Alabama (OTCQX: UBAB) announced that its President & CEO, Robert R. Jones III, will present live at VirtualInvestorConferences.com on September 24, 2020, at 1:30 PM EST. Investors are encouraged to participate and ask questions in real-time. Recent highlights include a net income of $8.3 million for the first half of 2020, an increase from $4.1 million last year. Total assets rose to $890.5 million, up from $677.2 million. Additionally, the company declared a dividend of $0.10 per share on June 16, 2020.