United Community Banks, Inc. Reports Third Quarter Earnings
United Community Banks reported a Q3 GAAP net loss of $139.7 million, or $(1.16) per share, driven by strategic actions: the $2.0 billion Navitas sale, a $366.1 million loss on investment portfolio repositioning, and the Peach State acquisition. On an operating basis the quarter was solid: EPS of $0.77 topped Q2's $0.71, operating revenue rose to $292 million from $279 million, and the operating efficiency ratio improved to 53.1% from 56.7%. Core momentum was strong with 9.8% annualized loan growth and 8.0% annualized deposit growth, both excluding Peach State, and new loan production above $1 billion for a second straight quarter.
Key figures
- Revenue
- $292 million operating
- Revenue Yoy
- 7%
- Buyback q3
- $50 million (1.395M shares at $35.81)
- Cet1 ratio
- 13.0%
- Operating eps
- 0.77
- Operating revenue
- 292000000
- Dividend per share
- 0.26
- Net interest margin
- 3.68%
- Operating net income
- 93700000
- Navitas sale proceeds
- $2.0 billion
- Peach state loans added
- $520 million
- Peach state deposits added
- $678 million
- Core loan growth annualized
- 9.8%
- Core deposit growth annualized
- 8.0%
- Incremental buyback authorization
- $100 million
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.