United Community Banks, Inc. Reports Second Quarter Earnings
United Community reported Q2 revenue of $279.3 million, up 7% year-over-year, with GAAP EPS of $0.95 and operating EPS of $0.71, an 8% increase. The bank demonstrated strong core performance with 6.8% annualized loan growth and an 18 basis point expansion in net interest margin to 3.68%. The board declared a quarterly dividend of $0.25 per share, a 4% increase from the prior year. GAAP results benefited from a one-time $38.5 million provision release related to the reclassification of the Navitas equipment finance loans to held-for-sale.
Key figures
- Eps
- 0.95
- Revenue
- 279300000
- Revenue Yoy
- 7%
- Loan growth
- 6.8%
- Operating eps
- 0.71
- Provision release
- 38500000
- Dividend per share
- 0.25
- Navitas settlement
- 4500000
- Net interest margin
- 3.68%
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