United Community Q2 net income $66.6M; operating EPS $0.58; NIM widens 17bps to 3.37%

UNITED COMMUNITY BANKS INC

2024-Q2 EPS reported $1.05 revenue$458,858,000

Net income $66.6M, diluted EPS $0.54 GAAP (+2% YoY); operating EPS $0.58 (+5% YoY).
Net interest margin expanded 17bps to 3.37%; net interest revenue $208.7M, up 4% YoY.
Loans decreased $164M QoQ to $18.21B; customer deposits down $339M to $22.98B.
Agreed to sell FinTrust Capital Advisors; expects Q3 close; recorded $5.1M goodwill impairment.
Tangible book value $19.13, up from $18.71 Q1; dividend unchanged at $0.23/share.

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