Welcome to our dedicated page for United Community Banks news (Ticker: UCBI), a resource for investors and traders seeking the latest updates and insights on United Community Banks stock.
United Community Banks Inc. (UCBI) is a prominent bank holding company headquartered in Blairsville, Georgia. Known as the Bank that Service Built℠, United Community Banks Inc. has been dedicated to providing exceptional banking services since its inception in 1950. With a focus on platinum-level customer service, the company has earned an impressive 96% customer satisfaction rating, the highest in the U.S. banking industry.
The company operates more than 100 locations across Georgia, North Carolina, Tennessee, and South Carolina, making it the third-largest traditional bank holding company in Georgia. United Community Banks Inc. functions primarily through its wholly-owned subsidiary, Union Community Bank, which manages a network of community-focused banks. These banks offer a wide range of retail and corporate banking services, including checking, savings, and time deposit accounts, as well as secured and unsecured loans, wire transfers, brokerage services, and other financial solutions.
United Community Banks Inc. prides itself on its well-diversified loan portfolio, which is predominantly commercial. The company has achieved growth through a combination of organic expansion and selective acquisitions. This growth strategy has enabled United Community Banks Inc. to maintain its commitment to improving the lives of residents in the communities it serves.
Recent achievements and current projects include a partnership with Strata Clean Energy, showcasing the company's commitment to innovation and sustainable growth. United Community Banks Inc. continues to focus on delivering valuable products and services, ranging from personal banking and mortgage services to small business administration loans and risk-management solutions, tailored to meet the needs of its diverse customer base.
For investors and stakeholders, staying updated with the latest performance, events, and developments of United Community Banks Inc. is crucial for informed decision-making. The company's strong financial condition and strategic growth initiatives position it as a secure and reliable banking partner in the southeastern United States.
United Community Banks, Inc. (NASDAQ: UCBI) will announce its third quarter 2021 financial results on October 19, 2021, after market close. A conference call to discuss these results is scheduled for October 20, 2021, at 11:00 a.m. ET. Interested participants can dial (877) 380-5665 with the conference number 1388708, or join the webcast via the Investor Relations section on their website. The company boasts $18.9 billion in assets and has received numerous awards for customer satisfaction and employee engagement.
United Community Banks (NASDAQ: UCBI) announced the completion of its merger with Aquesta Financial Holdings (OTC Pink: AQFH) on October 1, 2021. This strategic move integrates Aquesta Bank into United Community Bank, expanding United’s footprint with nine new branches in Charlotte and Wilmington, North Carolina. As of June 30, 2021, Aquesta held total assets of $739 million and deposits of $641 million, with a high percentage in core deposits. The merger aims to enhance customer service and operational efficiency, benefiting both entities.
United Community Banks, Inc. has appointed Jennifer Bazante, Chief Marketing Officer of Humana, to its Board of Directors. Bazante, with over 25 years of global marketing experience, joins the board to enhance the bank's customer experience and branding strategies. Her expertise is seen as pivotal as the bank aims to expand its influence in fast-growing Southeast markets. The bank is recognized for its strong service, boasting $18.9 billion in assets and numerous accolades in customer satisfaction.
United Community Banks, Inc. (NASDAQ: UCBI) declared a quarterly cash dividend of $0.20 per share, payable on October 5, 2021, to shareholders of record as of September 15, 2021. In addition, the company approved a $429.6875 per share dividend for its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO), payable on September 15, 2021, to shareholders of record on August 31, 2021. United is recognized for its customer service excellence, holding a strong financial position with $18.9 billion in assets.
United Community Banks, Inc. (UCBI) reported a net income of $70.3 million and earnings per share (EPS) of $0.78 for Q2 2021, reflecting a 144% increase from the previous year. The company's return on assets (ROA) was 1.46%, and return on common equity stood at 14.1%. The quarter benefited from a $13.6 million release in provisions for credit losses, signaling improving economic conditions. Core loan growth, excluding PPP loans, was 5% annualized. However, total loans decreased by $288 million, largely due to PPP loan forgiveness.
United Community Banks will acquire Reliant Bancorp in an all-stock transaction valued at approximately $517 million, equating to $30.58 per share. The merger, projected to close in Q1 2022, aims to enhance United's market presence in Tennessee, ranking it 10th in deposit market share post-closure. United expects the merger to be accretive to earnings, adding $0.15 (6.1%) per share in 2022 and $0.22 (8.5%) in 2023. Both banks anticipate solid second quarter earnings, with United at $0.77-$0.80 EPS and Reliant at $0.76-$0.79 EPS.
United Community Banks (UCBI) has announced a definitive merger agreement to acquire Reliant Bancorp (RBNC) in an all-stock deal valued at approximately $517 million, equating to $30.58 per share of Reliant's stock based on UCBI's closing price as of July 13, 2021.
The merger is anticipated to boost UCBI's earnings per share by 6.1% in 2022 and 8.5% in 2023. The transaction is expected to close in Q1 2022, pending regulatory and shareholder approval. Both banks anticipate exceeding consensus earnings estimates in their upcoming Q2 2021 reports.
United Community Banks, Inc. (NASDAQ: UCBI) plans to release its second quarter 2021 financial results on July 20, 2021, after the market closes. A conference call to discuss these results is scheduled for July 21, 2021, at 11:00 a.m. ET. The call can be accessed by dialing (877) 380-5665, using conference number 9585551, or via webcast on the company’s website. UCBI, recognized for its customer service, has $18.6 billion in assets and operates 161 offices across five states.
United Community Banks (NASDAQ: UCBI) has successfully acquired FinTrust Capital Partners, enhancing its investment advisory capabilities. Headquartered in Greenville, SC, FinTrust manages $2.0 billion in assets, bringing United's total to $4.4 billion. The acquisition will integrate certain Seaside brand operations with FinTrust. Both entities aim to expand their market presence, with United’s CEO emphasizing growth and service enhancement. This strategic move positions United to provide extensive financial solutions and benefits from FinTrust's established team.
United Community Banks, Inc. (NASDAQ: UCBI) has reached an agreement to acquire Aquesta Financial Holdings, Inc. (OTC Pink: AQFH) for approximately $131 million. This acquisition will include Aquesta Bank and aims to enhance United's presence in the fast-growing Charlotte market. As of March 31, 2021, Aquesta reported total assets of $752 million and total loans of $576 million. The merger is expected to be accretive to United’s earnings by $0.06 to $0.09 per share in 2022, depending on the cash and stock mix chosen by Aquesta's stockholders. Completion is anticipated in Q4 2021, pending approvals.
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