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United Community Banks, Inc. Reports First Quarter Earnings
UCBUnited Community Banks, Inc.(UCB) Newsfilter·2025-04-22 11:30

Core Viewpoint - United Community Banks, Inc. reported a strong financial performance for the first quarter of 2025, with net income of 71.4millionandadilutedearningspershareof71.4 million and a diluted earnings per share of 0.58, reflecting a year-over-year increase in earnings despite a slight decline from the previous quarter [1][6]. Financial Performance - Net income for Q1 2025 was 71.4million,withapre−tax,pre−provisionincomeof71.4 million, with a pre-tax, pre-provision income of 106.6 million [1][9]. - Diluted earnings per share (EPS) increased by 0.07year−over−yearto0.07 year-over-year to 0.58, but decreased by 0.03fromQ42024[1][10].−Onanoperatingbasis,dilutedEPSwas0.03 from Q4 2024 [1][10]. - On an operating basis, diluted EPS was 0.59, up 13% from the same quarter last year [2][10]. - Total revenue improved by 8.9million,or3.78.9 million, or 3.7%, year-over-year [6][9]. Asset Quality and Credit Losses - The return on assets was 1.02%, with an operating return of 1.04% [3][9]. - The provision for credit losses was 15.4 million, with net charge-offs of 9.6million,maintainingastablecreditquality[5][9].−Nonperformingassetsimprovedto0.339.6 million, maintaining a stable credit quality [5][9]. - Nonperforming assets improved to 0.33% of total assets, down from 0.42% in the previous quarter [5][11]. Loan and Deposit Growth - Loans increased by 249 million, or 5.6% annualized, with total loans reaching 18.425billion[4][15].−Customerdepositsroseby18.425 billion [4][15]. - Customer deposits rose by 309 million, or 5.4% annualized, primarily in money market deposits [4][6]. - The net interest margin expanded by 10 basis points to 3.36% from the previous quarter [4][9]. Operational Efficiency - Noninterest expenses decreased by $2.0 million compared to the fourth quarter, reflecting ongoing cost control efforts [9][12]. - The efficiency ratio was reported at 56.7%, indicating improved operational efficiency [9][14]. Strategic Initiatives - The company announced plans to acquire American National Bank, enhancing its presence in the growing South Florida market [4][9]. - United Community Banks was recognized by J.D. Power as 1 in Customer Satisfaction in the Southeast, highlighting its commitment to customer service [4][9].