United Community Banks (UCBI) Tops Q3 EPS by 19c, Revenues Miss

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Go back to United Community Banks (UCBI) Tops Q3 EPS by 19c, Revenues Miss

United Community Banks, Inc. Reports Third Quarter Results

October 20, 2020 5:00 PM EDT

GREENVILLE, S.C., Oct. 20, 2020 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (United) today reported third quarter financial results, including solid year-over-year loan and deposit growth and record operating efficiency. United delivered net income of $47.6 million and pre-tax pre-provision income of $81.2 million. Diluted earnings per share of $0.52 for the quarter represented a decrease of $0.08 or 13%, from a year ago. This decline is largely due to an increase in credit loss provisioning associated with loan growth and the acquisition of Seaside National Bank & Trust (Seaside) along with net interest margin declines... More