United Community Banks (UCBI) Misses Q2 EPS by 8c

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Go back to United Community Banks (UCBI) Misses Q2 EPS by 8c

United Community Banks, Inc. Reports Second Quarter Results

July 18, 2023 4:30 PM EDT

GREENVILLE, S.C., July 18, 2023 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (United) today announced net income for the second quarter of $63.3 million and pre-tax, pre-provision income of $104.3 million. Diluted earnings per share of $0.53 for the quarter represented an increase of $0.01 or 2% from the first quarter of 2023 and a decrease of $0.08 or 13%, from the second quarter of 2022. Industry-wide deposit price competition drove increased deposit costs, leading to an $11.2 million decrease in net interest revenue for the quarter. This was offset by a decline in quarterly noninterest expenses and an increase in... More