Efficiency Ratio - Operating: 57.1% compared to the 59.8% average estimate based on three analysts. Net charge-offs to average loans: 0.3% versus the three-analyst average estimate of 0.3%. Net Interest Margin: 3.4% versus 3.2% estimated by three analysts on average. Average balance - Total interest-earning assets: $25.03 billion compared to the $25.28 billion average estimate based on three analysts. Total nonperforming assets: $116.72 million versus $108.90 million estimated by two analysts on average. To ...

United Community Banks (UCBI) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.73%. A quarter ago, it was expected that this bank holding company would post earnings of $0.50 per share when it actually produced earnings of $0.52, delivering a surprise of 4%. Over the last four quar ...

Financial Performance - Total assets reached $27.1 billion in 2Q24[16] - The company reported a quarterly dividend of $0.23[48] - Diluted earnings per share (GAAP) for 2Q24 were $0.54, showing an increase from $0.51 in 1Q24[110][113] - Return on common equity (GAAP) was reported at 7.53% for 2Q24, reflecting a slight improvement from the previous quarter[110][117] - Return on assets (GAAP) improved to 0.97% in Q2 2024, up from 0.90% in Q1 2024[138] - Noninterest income for 2Q24 was $36.556 million, compared to $39.587 million in 1Q24[97] - GAAP noninterest income decreased by $3.0 million to $36.6 million, primarily due to the absence of a non-recurring gain in the prior quarter[168] Loan and Deposit Metrics - Total loans amounted to $18.2 billion in 2Q24[47] - Total deposits decreased to $23.0 billion in 2Q24, with an interest-bearing deposit rate of 2.35%[73] - Customer deposits totaled $23.2 billion, with business deposits at $8.7 billion and personal deposits at $11.2 billion[122][101] - The average account size for personal deposits was reported at $23.0 billion in total deposits[153] - The average loan size was $7.4 million, with the largest loan size reaching $26.9 million[93] - The median loan size was $6.6 million, with 30+ days past due loans at $0[93] - The company sold $145 million in loans in 2Q24, an increase of $19 million from $126 million sold in 1Q24[84] Credit Quality and Losses - Net charge-offs (NCOs) for 2Q24 were $11.6 million, or 0.26% of average loans annualized[40] - The allowance for credit losses (ACL) decreased by $1.5 million from 1Q24 due to lower commercial construction commitments[54] - The Allowance for Credit Losses (ACL) increased to 1.23% in 2Q24, up 1 basis point from 1Q24[68] - Nonperforming assets increased by $9.5 million during the quarter, representing 0.64% of total loans, up 6 basis points from 1Q24[175] - Higher risk loans improved to 2.8% from 1Q24, indicating a positive trend in loan quality[175] - The reserve for credit losses remained stable from 1Q24 due to less loan growth[176] Interest Income and Margins - The core net interest margin increased by 15 basis points to 3.28%[32] - The net interest revenue for 2Q24 was $208.7 million[31] - Net interest revenue increased by $9.6 million from Q1 2024, primarily driven by improved pricing discipline on loans and deposits[148] - The company reported a net interest margin of 3.37% in Q2 2024, consistent with Q1 2024[147] - Net interest margin (NIM) for 2Q24 was 3.37%, an increase from 3.20% in 1Q24, with purchased loan accretion contributing 9 basis points[166][167] Operational Efficiency - The operating efficiency ratio improved due to higher net interest income combined with relatively flat expenses[50] - The efficiency ratio improved to 59.7% (GAAP), down 77 basis points from 1Q24[110][117] - Efficiency ratio (operating) decreased to 57.06% in Q2 2024, compared to 59.15% in Q1 2024[138] Strategic Initiatives - The company plans to sell its RIA (FinTrust Capital Advisors), expected to close in 3Q24[6] - The company plans to expand its Private Banking and Trust services in key metropolitan statistical areas (MSAs) in North/South Carolina and Florida over the next 12-24 months[70] - The company is focused on high-growth MSAs in the Southeast, with projected population growth rates of up to 14.35% from 2023 to 2028 in certain areas[85] - The trust business was enhanced through the Seaside acquisition and the First National Bank of South Miami acquisition[178] Deposit Composition - The company’s noninterest-bearing deposits accounted for 27% of total deposits in 2Q24[71] - The company’s total interest-bearing deposits reached $16.7 billion in 2Q24, with an average rate of 3.24%[73] - The cost of deposits remained relatively flat at 2.35% in 2Q24, with a cumulative total deposit beta of 44%[102][101] - Average account size for deposits was $34,000, with a diverse industry and geographic distribution[179] Other Financial Metrics - The company has approximately $3.0 billion in Assets Under Administration (AUA) in its Wealth Management business, excluding FinTrust[70] - Mortgage locks showed a steady trend with a total of $305 million in loans sold in Q2 2024[127] - Mortgage rate locks totaled $295 million in 2Q24, compared to $305 million in 2Q23[168] - The company maintained substantial balance sheet liquidity with loans to core deposits ratio remaining stable[160] - The company’s bond portfolio restructuring loss was recorded at 0.57% in Q4 2023, impacting overall returns[138] - Noninterest expense increased by $2.0 million compared to 1Q24, attributed to unusual items in both quarters[173]

GREENVILLE, S.C., June 28, 2024 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) announces it will release its second quarter 2024 financial results on Wednesday, July 24, 2024 before the stock market opens. The company also will hold a conference call at 11:00 a.m. EST on Wednesday, July 24, 2024 to discuss its financial results, business highlights and outlook. About United Community Banks, Inc. For more information: Participants can pre-register for the conference call by navigating to htt ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR (State of incorporation) (I.R.S. Employer Identification No.) 125 Highway 515 East Blairsville, Georgia 30512 (Address of principal executive offices) (Zip code) (706) 781-2265 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ☐ ...

United Community Banks, Inc. (NASDAQ:UCBI) Q1 2024 Earnings Conference Call April 24, 2024 11:00 AM ET Company Participants Lynn Harton - Chairman and CEO Jefferson Harralson - CFO Rich Bradshaw - President and Chief Banking Officer Rob Edwards - CRO Conference Call Participants Catherine Mealor - KBW Michael Rose - Raymond James Stephen Scouten - Piper Sandler Russell Gunther - Stephens Gary Tenner - D.A. Davidson Christopher Marinac - Janney Montgomery Scott LLC David Bishop - Hovde Group Operator Good mo ...

Financial Performance - Net income for the first quarter was $62.6 million, with pre-tax, pre-provision income of $93.7 million[2]. - Diluted earnings per share (EPS) decreased by 2% year-over-year to $0.51, but increased by 364% compared to the fourth quarter of 2023[2][9]. - Total revenue for the quarter was $225.8 million, a 3% increase from the previous quarter[10]. - Net income for the first quarter of 2024 was $62,631,000, compared to $63,288,000 in the previous quarter, reflecting a decrease of 1.04%[11]. - Net income for the first quarter of 2024 was $62,631 thousand, slightly up from $62,300 thousand in the same period of 2023, representing an increase of 0.53%[15]. - Total interest revenue rose to $336,728 thousand in Q1 2024, a 20.5% increase from $279,487 thousand in Q1 2023[15]. Asset and Deposit Growth - Total assets increased to $27,364,888 thousand as of March 31, 2024, compared to $27,297,251 thousand at December 31, 2023, reflecting a growth of 0.25%[14]. - As of March 31, 2024, United Community Banks, Inc. reported total assets of $27.3 billion, an increase from $25.8 billion in 2023, representing a growth of approximately 5.4%[19]. - Total deposits remained stable at $23,332,009 thousand as of March 31, 2024, compared to $23,310,611 thousand at December 31, 2023[14]. - United Community's total liabilities increased to $23,895,349 thousand in 2024 from $22,637,831 thousand in 2023, representing a growth of approximately 5.6%[16]. Loan and Credit Quality - Core deposits grew by 5% annualized, while loans increased at a rate of 1.2% annualized during the quarter[3][9]. - Total loans increased by $56 million from the previous quarter to $18,375 million, marking a year-over-year increase of $1,250 million[12]. - Nonperforming assets (NPAs) increased to 0.39% of total assets, up 5 basis points from the previous quarter[5][9]. - Net charge-offs were $12.9 million, representing 0.28% of average loans, an increase of 6 basis points from the fourth quarter[5][9]. - The net charge-offs for commercial and industrial loans were $3,906 thousand in Q1 2024, with a net charge-off rate of 0.65%[13]. - The allowance for credit losses was $212,996 thousand as of March 31, 2024, compared to $167,584 thousand in 2023, reflecting an increase of approximately 27%[16]. Income and Efficiency Metrics - Noninterest income was $39.6 million, significantly up from a loss of $23.1 million in the fourth quarter[10]. - The efficiency ratio (GAAP) for the first quarter of 2024 was 60.47%, an improvement from 66.33% in the previous quarter[11]. - Total noninterest income increased to $39,587 thousand in Q1 2024, up from $30,209 thousand in Q1 2023, marking a growth of 31.1%[15]. Interest and Yield Metrics - Net interest margin rose by 1 basis point to 3.20%, with the average yield on interest-earning assets increasing by 8 basis points to 5.39%[5][9]. - The net interest margin (FTE) decreased to 3.20% in Q1 2024 from 3.61% in Q1 2023, a decline of 11.4%[16]. - The net interest revenue after provision for credit losses was $186,250 thousand in Q1 2024, slightly down from $189,687 thousand in Q1 2023[15]. - Interest-bearing deposits rose to $16,781,964 thousand in 2024, compared to $13,696,908 thousand in 2023, marking an increase of approximately 22.5%[16]. - The average rate on loans increased to 6.24% in Q1 2024 from 5.68% in Q1 2023, a rise of 9.8%[16]. Shareholder Metrics - The quarterly common shareholder dividend remained flat at $0.23 per share year-over-year[9][10]. - The book value per common share (GAAP) increased to $26.83 from $25.98 in the previous quarter[11]. - The total shareholders' equity rose to $3,300,110 thousand as of March 31, 2024, compared to $3,261,525 thousand at December 31, 2023, reflecting an increase of 1.18%[14]. Awards and Recognition - United Community was recognized as a top 100 U.S. financial institution and received multiple awards for customer satisfaction and workplace excellence in 2024[19]. - The company operates 205 offices across six states and has a national SBA lending franchise and equipment lending subsidiary[19].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 001-35095 UNITED COMMUNITY BANKS, INC. (Exact name of registrant as specified in its charter) | Georgia | 58-1807304 | | --- | --- | | (S ...

United Community Banks, Inc. (NASDAQ:UCBI) Q4 2023 Earnings Conference Call January 24, 2024 11:00 AM ET Company Participants Lynn Harton - Chairman and Chief Executive Officer Jefferson Harralson - Chief Financial Officer Rich Bradshaw - President and Chief Banking Officer Rob Edwards - Chief Risk Officer Conference Call Participants Michael Rose - Raymond James Graham Dick - Piper Sandler Catherine Mealor - KBW Russell Gunther - Stephens David Bishop - Hovde Group Christopher Marinac - Janney Montgomery S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from ___________ to ___________ Commission file number 001-35095 UNITED COMMUNITY BANKS, INC. (Exact name of registrant as specified in its charter) Georgia 58-1807304 (S ...