UPDATE: United Community Financial (UCFC) Tops Q2 EPS by 0.5c

United Community Financial (NASDAQ: UCFC) reported Q2 EPS of $0.215, $0.005 better than the analyst estimate of $0.21.

Second quarter 2019 highlights:

• ROA of 1.48%, ROE of 13.2%, ROTE of 14.3% for the quarter
• Total loan growth of 6.1% over the last twelve months
• Average customer deposit growth of 7.7% compared to second quarter 2018
• Revenue growth of 5.8% compared to second quarter 2018
• Pretax preprovision income of $12.7 million, a 9.6% increase compared to second quarter 2018
• Efficiency ratio of 55.4%
• Declared a dividend of $0.08 per common share, an increase of 14% over the prior quarter
• Authorized an additional one million shares for repurchase

Gary M. Small, President and Chief Executive Officer of the Company commented, “The team delivered an outstanding quarter and each business line continues to contribute to our success. Balanced improvements in commercial banking, residential mortgage and our consumer business produced a very strong 9.9% net income improvement for the quarter versus the same period last year.”

Small continued, “Excellent earnings growth and an accelerated stock repurchase program combined to deliver EPS growth of 13%. Based on the strength and momentum of our performance, the board approved a 14% dividend increase. Capital management will remain a strategic priority as we are focused on delivering top tier returns for our shareholders.”

For earnings history and earnings-related data on United Community Financial (UCFC) click here.

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