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) announced a quarterly cash dividend of $0.19 per share on its common stock, payable on July 5, 2021, to shareholders of record as of June 15, 2021. Additionally, a dividend of $429.6875 per share on the 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO) will be paid on June 15, 2021, to shareholders of record on May 31, 2021. United continues to be recognized for its services, holding a reputation for customer satisfaction and employee satisfaction.
United Community Banks (NASDAQ: UCBI) is set to expand its Advisory Services division through the acquisition of FinTrust Capital Partners, enhancing its product offerings and advisory assets. FinTrust, based in Greenville, SC, manages $2 billion in assets across multiple advisory sectors and consists of several subsidiaries. The acquisition is expected to close in Q3 2021, pending regulatory approvals. This strategic partnership aims to provide integrated financial services, fostering growth in the Southeast market.
United Community Banks, Inc. (UCBI) reported a record net income of $73.7 million for Q1 2021, with diluted EPS of $0.82, marking an impressive year-over-year increase of 105%. Return on Assets (ROA) stood at 1.62%, and Return on Common Equity (ROE) was 15.4%. The quarter benefited from a $12.3 million allowance release due to improved economic conditions. Total loans increased by $308 million, supported by the SBA Paycheck Protection Program (PPP), while core transaction deposits grew significantly by $948 million, reflecting a strong 33% annualized growth rate.
United Community Banks, Inc. (NASDAQ: UCBI) is set to announce its Q1 2021 financial results on April 20, 2021, post-market close. A conference call to discuss these results and future outlook is scheduled for April 21, 2021, at 11:00 a.m. ET. Participants can join the call by dialing (877) 380-5665 and using conference number 9792368, or via the company’s website.
United Community Banks is recognized for its customer satisfaction and was awarded by J.D. Power and Forbes in multiple categories, highlighting its strong market presence and community banking services.
United Community Banks, Inc. (UCBI) announced a quarterly cash dividend increase to $0.19 per share, representing a 5.6% rise, payable on April 5, 2021. Shareholders of record by March 15, 2021 will receive this dividend. Additionally, a dividend of $429.6875 per share on the 6.875% Non-Cumulative Preferred Stock, Series I, is set for March 15, 2021, with record shareholders as of February 28, 2021. The bank, with $17.8 billion in assets, is recognized for its customer service excellence.
United Community Banks (NASDAQ: UCBI) reported solid fourth quarter results with a net income of $59.5 million, leading to diluted EPS of $0.66, an 8% increase year-over-year. The return on assets (ROA) was 1.30%, while return on common equity reached 12.36%. Core loans decreased by $428 million, mainly due to forgiven SBA PPP loans; however, excluding these, organic loan growth was 8% annualized. Core deposits grew by $369 million or 13% annualized. The financial highlight of 2020 noted a full-year EPS of $1.91, a 17% decrease compared to the previous year.
United Community Banks, Inc. (NASDAQ: UCBI) will release its fourth quarter 2020 financial results on January 19, 2021, after market close. A conference call to discuss results and outlook is scheduled for January 20, 2021, at 11:00 a.m. ET. Interested participants can join by calling (877) 380-5665 and entering conference number 5083638. The call will also be webcast via the Investor Relations section on the company’s website, www.ucbi.com.
On November 5, 2020, United Community Banks, Inc. (UCBI) announced a quarterly cash dividend of $0.18 per share, payable on January 5, 2021, to shareholders of record by December 15, 2020. Additionally, a dividend of $429.6875 per share on its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (UCBIO), will be paid on December 15, 2020, to shareholders of record by November 30, 2020. The company also increased its share repurchase program to $50 million, with a new expiration of December 31, 2021, allowing management to buy back shares at their discretion, reflecting confidence in future growth.
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