United Community Banks reports net operating income of $23.9 M for Q1 2016

BLAIRSVILLE, GA – United Community Banks, Inc. (NASDAQ: UCBI) reported first quarter results reflecting strong credit quality, capital management, profitability and growth. Net operating income was $23.9 million, or 33 cents per diluted share, compared with $17.7 million, or 29 cents per diluted share, in the first quarter of 2015.

• Operating earnings per diluted share of 33 cents, up 14 percent from first quarter of 2015
• Operating return on assets of 1.00 percent – compared to .94 percent a year ago
• Operating return on tangible common equity of 10.91 percent – up from 9.46 percent a year ago
• Loans up $111 million from the fourth quarter of 2015, or 7 percent annualized
• Core transaction deposits up $113 million from the fourth quarter of 2015, or 9 percent annualized