United Community Banks Inc. Stock Price, News & Analysis

United Community Banks, Inc. (NASDAQ: UCBI) will release its Q1 2023 financial results on April 18, 2023, after market close. A conference call to discuss these results and future outlook will occur on April 19, 2023, at 11:00 a.m. ET. Participants can register online or dial in, with a web access option available through the company’s Investor Relations site. As of December 31, 2022, UCBI had assets totaling $24.0 billion and operates 192 offices across five states. The bank has received multiple accolades for customer satisfaction and employee satisfaction in recent years, emphasizing its commitment to service excellence.

United Community Bank unveiled a new corporate logo on March 28, 2023, reflecting its 70-year commitment to customer service and community investment. The redesign aims to modernize the bank's image while maintaining its core message of service. CEO Lynn Harton noted customer feedback emphasized a desire for a forward-looking logo. The updated branding will be implemented across digital platforms by late summer 2023, with branch signage updates expected by mid-2024. As of December 31, 2022, United has $24.0 billion in assets and operates 192 offices in five states, furthering its goal of building communities through various initiatives.

United Community Banks, Inc. (NASDAQ: UCBI) announced a quarterly cash dividend of $0.23 per share on its common stock, payable on April 5, 2023, to shareholders of record by March 15, 2023. Additionally, a dividend of $429.6875 per share on its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO) will be payable on March 15, 2023, to shareholders of record as of February 28, 2023. The company continues to demonstrate robust performance with assets totaling $24.0 billion as of December 31, 2022, and has been recognized for excellence in customer satisfaction.

United Community Banks (NASDAQ: UCBI) announced a merger with First Miami Bancorp (OTC: FMIA) valued at approximately $115.9 million, or $1,330 per share based on United's stock price as of February 10, 2023. This all-stock transaction aims to enhance United's presence in Miami's vibrant banking market. As of December 31, 2022, First Miami's total assets were $1.0 billion, with total loans of $594 million and total deposits of $867 million. The merger is projected to be accretive to earnings by $0.09 per share in 2024 and is anticipated to close in Q3 2023, pending regulatory and shareholder approval.

United Community Banks, Inc. (UCBI) reported a net income of $81.5 million for Q4 2022, with GAAP EPS at $0.74, up 35% year-over-year. Pre-tax, pre-provision income was $125.9 million. Loan growth was strong at 12%, driven by rising interest rates and the Reliant Bancorp acquisition. The net interest margin improved to 3.76%, reflecting a 19 basis point increase. However, core transaction deposits declined by 22%, and net charge-offs were $6.6 million, up from previous quarters. For the full year, EPS decreased by 15% to $2.52. The company aims to navigate future challenges, including increasing deposit competition and potential recession impacts.

United Community Banks (NASDAQ: UCBI) has successfully completed its merger with Progress Financial Corporation as of January 3, 2023. Following this merger, Progress Bank and Trust will operate under the United brand. Progress, headquartered in Huntsville, Alabama, had total assets of $1.7 billion and a branch network across Alabama and the Florida Panhandle. The merger aims to enhance customer service and expand growth opportunities, leveraging a larger balance sheet and diversified services.

United Community Banks, Inc. (NASDAQ: UCBI) will release its fourth quarter 2022 financial results on January 17, 2023, after market close. A conference call to discuss these results will take place on January 18, 2023, at 11:00 a.m. ET. The company offers a range of banking and wealth management services, with $23.7 billion in assets as of September 30, 2022, and operates 193 offices across several states. United has received numerous accolades for customer satisfaction and was recognized by Forbes as one of the top ten World's Best Banks in 2022.

United Community Banks announced a quarterly cash dividend of $0.22 per share on common stock, payable on January 5, 2023. The dividend for the 6.875% Non-Cumulative Perpetual Preferred Stock, Series I is set at $429.6875, payable December 15, 2022. Additionally, the Board approved a $50 million increase in the share repurchase program, extending the authorization to December 31, 2023. Share repurchases will depend on market conditions and will be executed at management's discretion.