United Community Banks Q4 GAAP EPS $0.11, down 85% YoY; operating EPS $0.53 up 18% QoQ

UNITED COMMUNITY BANKS INC

2023-FY EPS reported $1.54 revenue$803,818,000

Q4 net income $14.1M, diluted EPS $0.11 vs $0.74 YoY; operating EPS $0.53 down 29% YoY but up 18% QoQ.
Bond portfolio restructuring pre-tax loss $51.7M and FDIC special assessment $9.995M; combined EPS impact -$0.38.
Net interest margin 3.19% (down 5 bps QoQ); loans grew 2.5% annualized, deposits 8% annualized; NCOs 0.22% (down 37 bps QoQ).
Full-year 2023 GAAP EPS $1.54 vs $2.52 (down 39%); operating EPS $2.11 vs $2.66 (down 21%).
Tangible common equity to tangible assets 8.36% (up 18 bps); quarterly dividend $0.23/share, up 5% 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 fourth fiscal quarter of 2023 results: net income $14.1 million, EPS $0.11.

Period: fourth fiscal quarter of 2023
Net income: $14.1 million
EPS: $0.11
Result: reported results

Exact text from the filing

On January 24, 2024, United Community Banks, Inc. ("United") issued a press release announcing financial results for its fourth fiscal quarter of 2023.

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Source: SEC EDGAR

accession 0001104659-24-006101

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