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United Community Banks Inc. (UCBI) delivers community-focused financial services across the Southeastern U.S., combining personalized banking with regional expertise. This page aggregates official news and analysis for investors, stakeholders, and community members tracking UCBI's developments.
Find timely updates on earnings announcements, strategic acquisitions, and leadership changes, alongside insights into UCBI's mortgage services and risk management solutions. Our curated collection simplifies tracking regulatory filings and market trends impacting this regional banking leader.
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United Community Banks, Inc. (UCBI) has announced its decision to transfer the listing of its common stock and Depositary Shares from Nasdaq to the New York Stock Exchange (NYSE). The transition is set to take effect on August 6, 2024, with trading commencing at market open under new ticker symbols: 'UCB' for common stock and 'UCB PRI' for depositary shares.
CEO Lynn Harton expressed excitement about the move, citing the potential for greater visibility for the company and its shareholders. The company plans to celebrate this milestone by ringing The Opening Bell with its Board of Directors later in August. Chris Taylor, VP of Global Head of Listings and Services at NYSE Group, welcomed United Community Banks to the exchange, noting its fit among the NYSE's community of leading banks.
United Community Banks, Inc. (NASDAQ: UCBI) reported Q2 2024 net income of $66.6 million and pre-tax, pre-provision income of $98.2 million. Diluted EPS rose to $0.54, a 2% YoY increase. On an operating basis, EPS was $0.58, up 5% YoY. The rise was driven by higher net interest income and a lower provision for credit losses. Return on assets was 0.97% and return on equity was 7.53%.
Tangible common equity to tangible assets rose to 8.78%. Net interest margin increased by 17 basis points to 3.37%. Net charge-offs were $11.6 million or 0.26% of average loans. Nonperforming assets were 0.43% of total assets.
United plans to sell its investment in FinTrust Capital Advisors by Q3 2024 to focus on Private Banking, Retail, and Trust businesses. CEO Lynn Harton cited economic and election uncertainties affecting loan growth but expressed confidence in United’s strategic direction and shareholder value delivery.
United Community Banks (NASDAQ: UCBI) will release its second quarter 2024 financial results on Wednesday, July 24, 2024, before the stock market opens.
The company will also host a conference call on the same day at 11:00 a.m. EST to discuss its financial performance, business highlights, and future outlook.
Interested participants can pre-register for the call at https://dpregister.com/sreg/10190532/fcfa86e478 or dial in by calling 1-866-777-2509. It is recommended to join 15 minutes prior to the start time. The conference call will also be webcast and accessible via the 'Events and Presentations' section under 'News and Events' on the company's website, ucbi.com.
United Community Banks, a leading financial institution, announced on May 16, 2024, a quarterly cash dividend of $0.23 per share for its common stockholders, payable on July 5, 2024, to shareholders recorded by June 15, 2023. Additionally, the board approved a quarterly cash dividend of $429.6875 per share for its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, corresponding to $0.4296875 per depositary share, payable on June 15, 2024, to shareholders of record on May 31, 2024. United Community Banks operates 205 offices across six southeastern U.S. states and has assets totaling $27.3 billion as of March 31, 2024. The bank has earned numerous accolades, including J.D. Power’s best customer satisfaction award for the Southeast region for the tenth time in 2024.
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