---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-046780"
form_type: "8-K"
ticker: "UCB"
cik: "0000857855"
company_name: "UNITED COMMUNITY BANKS INC"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T01:03:58.227491+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# United Community Banks Q1 net income $62.3M, EPS $0.52; organic loan growth 8%, deposit growth 10%

## Summary
- Net income $62.3M ($0.52 diluted GAAP EPS); operating EPS $0.58, up 16% YoY.
- Net interest margin 3.61%, down 15 bps QoQ due to higher deposit costs; cost of deposits up 61 bps to 1.10%.
- Organic loan growth 8% annualized, customer deposit growth 10% annualized (excluding acquired Progress balances).
- Completed Progress acquisition with $1.8B assets on Jan 3, 2023; also announced partnership with First National Bank of South Miami.
- Nonperforming assets 28 bps of total assets, up 10 bps QoQ; net charge-offs 0.17% of avg loans.

## SEC filing metadata
- accession: 0001104659-23-046780
- form_type: 8-K
- ticker: UCB
- cik: 0000857855
- company_name: UNITED COMMUNITY BANKS INC
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/857855/000110465923046780/0001104659-23-046780-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/857855/000110465923046780/tm2313046d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-046780
- JSON: https://secwatch.observer/filing/0001104659-23-046780.json
- Plain text: https://secwatch.observer/filing/0001104659-23-046780.txt

## Key facts
- Earnings Releases
  UNITED COMMUNITY BANKS INC reported the 2023 first quarter results: net income $62.3 million, EPS $0.52.
  - Period: the 2023 first quarter
  - Net income: $62.3 million
  - EPS: $0.52
  - Result: reported results
  source text: United Community Banks, Inc. (NASDAQ: UCBI) (United) today announced that net income for the 2023 first quarter was $62.3 million and pre-tax, pre-provision income was $101.9 million. Diluted earnings per share of $0.52 for the quarter represented an increase of $0.09 or 21%, from the first quarter a year ago and a decrease of $0.22 or 30% from the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/857855/000110465923046780/0001104659-23-046780-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.