United Community Banks, Inc. Report Third Quarter Earnings
October 23, 2014
BLAIRSVILLE, GA – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today reported net income of $17.6 million, or 29 cents per diluted share, for the third quarter of 2014. Earnings per share were up 7 percent from the second quarter, reflecting strong loan growth, a widening net interest margin, and growth in fee revenue. For the first nine months of 2014, United reported net income of $49.4 million, or 81 cents per diluted share.
- Earnings are 29 cents per diluted share, up 7 percent from second quarter and 38 percent from a year ago
- Loans up $159 million, or 14 percent annualized
- Net interest margin increases 11 basis points from second quarter
- Core transaction deposits up $90 million, or 10 percent annualized
