United Community Banks Inc. Stock Price, News & Analysis

United Community Banks, Inc. (NASDAQ: UCBI) will release its Q3 2022 financial results on October 18, 2022, after market close. A conference call to discuss these results and the company's outlook is scheduled for October 19, 2022, at 11:00 a.m. ET. Interested participants can pre-register for the call, which will also be webcast live. United Community Banks, recognized for its customer satisfaction and award-winning service, held assets totaling $24.2 billion as of June 30, 2022, and operates 195 offices across five states.

United Community Banks, Inc. appointed George Bell as a new Director on its Board. Bell, with over 25 years of financial services experience from companies like Truist and BB&T, brings significant expertise in information technology and customer service. His previous role involved leading technical teams in enhancing product quality. Chairman Lynn Harton emphasized that Bell's skill set aligns with the company's growth strategy, especially in the Southeast markets. United, recognized for customer satisfaction by J.D. Power and Forbes, continues to expand its operations.

United Community Banks, Inc. (NASDAQ: UCBI) declared a quarterly cash dividend of $0.22 per share on common stock, payable on October 5, 2022 to shareholders of record as of September 15, 2022.

Additionally, a dividend of $429.6875 per share on the Company’s 6.875% Non-Cumulative Perpetual Preferred Stock (NASDAQ: UCBIO) was approved, payable on September 15, 2022 to shareholders of record on August 31, 2022.

United Community Banks (UCBI) reported Q2 2022 net income of $66.8 million, with diluted EPS of $0.61, a 42% increase from Q1 2022 but a 22% decrease year-over-year. Loan growth was strong at 6.3% annualized, and net interest margin expanded by 22 basis points to 3.19%. The efficiency ratio improved to 56.6%, and the reserve for credit losses reached 1.05% of total loans. Despite a decrease in total deposits by 0.9%, the company remains optimistic about its growth potential and merger with Progress Financial Corporation.

United Community Banks, Inc. (UCBI) will release its second quarter 2022 financial results on July 19, 2022, after the market closes. A conference call will follow on July 20, 2022, at 11:00 a.m. ET to discuss the results and outlook. The bank has $24.4 billion in assets as of March 31, 2022, and 198 offices across five states. UCBI has received numerous accolades, including high rankings in customer satisfaction and being listed among the best banks to work for in America.

United Community Bank has launched the United Essential Banking account, designed to provide safe and affordable banking solutions. This low-cost checking account features no overdraft fees, low minimum deposit to open, and no minimum balance requirement. Certified by the Bank On National Account Standards, the initiative aims to enhance access to traditional banking services for underserved community members. As of March 31, 2022, United Community Bank reported $24.4 billion in assets and has been recognized for exceptional customer satisfaction in the Southeast.

United Community Banks, Inc. (NASDAQ: UCBI) announced a quarterly cash dividend of $0.21 per share, payable on July 5, 2022, to shareholders on record by June 15, 2022. Additionally, a dividend of $429.6875 per share on the 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO) is scheduled for June 15, 2022, for shareholders on record by May 31, 2022. The company has a total asset base of $24.4 billion and has been recognized for customer satisfaction and employee satisfaction awards.

United Community Banks (NASDAQGS: UCBI) announced a definitive agreement to acquire Progress Financial Corporation for approximately $271.5 million in an all-stock transaction, valued at $23.52 per share. Progress, operating 14 offices in growth markets across Alabama and Florida, has $1.9 billion in assets and aims to enhance United’s footprint and service offerings. The merger is expected to be accretive to United’s earnings by $0.07 per share in 2023. The transaction awaits regulatory and shareholder approval, anticipated to close in Q4 2022.

United Community Banks, Inc. (NASDAQ: UCBI) reported Q1 2022 net income of $48 million, with diluted EPS at $0.43, reflecting a 48% year-over-year decline. Key highlights include 9% loan growth and 7% deposit growth. The net interest margin expanded by 16 basis points, while credit loss provisions totaled $23.1 million due to the Reliant acquisition. Operating metrics showed improvement, with pre-tax, pre-provision income rising 27% from Q4 2021. The efficiency ratio improved to 57.4%. CEO Lynn Harton expressed optimism for 2022, citing strong growth potential.