United Community Banks (UCBI) Reports In-Line Q4 EPS

United Community Banks (NASDAQ: UCBI) reported Q4 EPS of $0.30, in-line with the analyst estimate of $0.30.

"Our fourth quarter results mark a strong ending to a very good year," said Jimmy Tallent, president and chief executive officer. "Strong loan growth and a steady net interest margin increased net interest revenue by $1.37 million over the third quarter. Our return on assets rose to 96 basis points, one basis point above the third quarter and closing in on our goal of 1 percent. Also, our return on equity was 9.6 percent, up 19 basis points from the third quarter and 208 basis points from a year ago. We continue to improve operating efficiency, and achieved solid positive operating leverage in the fourth quarter."

Tallent continued, "Fourth quarter net loan growth of $103 million was driven by solid production across all of our markets. Our specialized lending business, which includes health care, corporate, SBA, asset-based and commercial real estate lending, was the largest contributor to our growth this quarter with $74.6 million. We also saw solid growth in our Coastal Georgia market."

For earnings history and earnings-related data on United Community Banks (UCBI) click here.

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