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.
Overview
United Community Banks Inc. (UCBI), recognized as the bank that service built, is a community-focused financial institution with a legacy of exceptional customer service since 1950. Emphasizing community banking, personal banking, and risk management, UCBI provides a robust suite of financial solutions designed to meet the needs of both individual and business clients. With a deep commitment to service excellence and customer satisfaction, the institution has built a reputation for reliability and tailored financial expertise.
History and Community Focus
From its inception, UCBI has adhered to a philosophy of delivering platinum-level service, creating a foundation of trust and long-lasting relationships with community members. This historical commitment to enhancing residents' lives has positioned UCBI as a trusted partner in regional development and financial well-being. The bank’s longstanding tradition of service highlights its dedication to the communities it serves.
Core Services and Operations
UCBI offers a comprehensive range of financial services that include personal banking, mortgage solutions, small business administration loans, and sophisticated risk management tools. Each service is meticulously designed to address the evolving needs of its diverse clientele. This customer-centric approach ensures that both individuals and businesses receive personalized support, whether they are managing day-to-day finances or planning long-term investments.
Market Position and Competitive Landscape
Operating as one of the strongest and most secure banks in the Southeastern United States, UCBI has strategically positioned itself in a competitive market. With an extensive branch network across multiple states, including Georgia, North Carolina, Tennessee, and South Carolina, the bank effectively meets the regional demand for reliable financial services. Its emphasis on exceptional customer service and consistent operational performance distinguishes it from other financial institutions in the area.
Expertise and Business Model
UCBI's business model is anchored in decades of financial expertise and an unwavering commitment to customer satisfaction. By integrating thorough risk management practices with personalized banking solutions, the bank achieves operational excellence while addressing the specific needs of its clients. This balanced approach not only reinforces the institution's reputation for security and stability but also demonstrates its capability to provide strategic financial insights.
Customer and Community Impact
At the core of UCBI's strategy is a commitment to enhancing the quality of life for the communities it serves. The bank actively fosters strong relationships by prioritizing transparent communication, reliability, and a tailored approach to financial service. This focus on community impact is evident in every aspect of its operations, marking UCBI as a cornerstone in regional banking.
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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