UCBI Q3 net income $47.9M, EPS $0.39; net charge-offs surge 0.59% of loans

UNITED COMMUNITY BANKS INC

2023-Q3 EPS reported $1.44 revenue$638,081,000

GAAP diluted EPS $0.39, down 47% YoY and 26% QoQ; operating EPS $0.45, down 40% YoY.
Net charge-offs $26.6M (0.59% of avg loans) vs 0.20% in Q2; includes $19M syndicated credit charge-off.
Customer deposits grew 5.6% annualized; net interest margin 3.24%, down 13 bps from Q2.
Pre-tax pre-provision income $90.1M; return on tangible common equity 9.0% operating.
Quarterly dividend $0.23 per share, 5% increase YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNITED COMMUNITY BANKS INC reported third quarter of 2023 results: net income $47.9 million, EPS $0.39.

Period: third quarter of 2023
Net income: $47.9 million
EPS: $0.39
Result: reported results

Exact text from the filing

United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced net income for the third quarter of $47.9 million and pre-tax, pre-provision income of $90.1 million. Diluted earnings per share of $0.39 for the quarter

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Source: SEC EDGAR

accession 0001104659-23-109755

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