secwatch.observer — SEC 8-K summary
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Issuer:     UNITED COMMUNITY BANKS INC (UCB)
CIK:        0000857855
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001104659-23-046780
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857855/000110465923046780/0001104659-23-046780-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857855/000110465923046780/tm2313046d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046780

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer