United Community Banks Q2 net income $63.3M, EPS $0.53; NIM down 24 bps to 3.37%

UNITED COMMUNITY BANKS INC

2023-Q2 EPS reported $1.05 revenue$433,816,000

Diluted EPS $0.53 GAAP, $0.55 operating; net income $63.3M vs $66.8M year ago.
Net interest margin fell 24 bps to 3.37% from Q1 due to 54 bps rise in deposit costs.
Annualized loan growth 6.3%; deposit growth 4.5%; net charge-offs 0.20%.
Completed Progress operational conversion and First Miami Bancorp merger on July 1.
Quarterly dividend raised 10% to $0.23 per share.

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