United Community Banks (UCBI) Misses Q2 EPS by 2c

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Go back to United Community Banks (UCBI) Misses Q2 EPS by 2c

United Community Banks, Inc. Reports Second Quarter Results

July 19, 2022 4:30 PM EDT

GREENVILLE, S.C., July 19, 2022 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (United) today announced net income for the second quarter of $66.8 million and pre-tax, pre-provision income of $91.6 million. Diluted earnings per share of $0.61 for the quarter represented an increase of $0.18 or 42% from the first quarter of 2022 and a decrease of $0.17 or 22%, from the second quarter of 2021. The year-over-year decrease is largely attributable to a $13.6 million provision release in the second quarter of 2021 compared to a $5.6 million provision expense in the second quarter of 2022. Quarter highlights include 6.3% annualized loan growth, 22 basis points... More