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Mar 31, 2024
United Community Banks Q1 2024 Earnings Report
Reported solid first quarter results with strong pre-tax, pre-provision earnings, a stable margin, and good credit performance.
Key Takeaways
United Community Banks, Inc. announced a net income of $62.6 million for the first quarter of 2024, with diluted earnings per share of $0.51. The results reflect a decrease from the previous year but an increase from the prior quarter, with core deposits growing by 5% annualized and loans growing at a 1.2% annualized rate.
Net income for the first quarter was $62.6 million.
Diluted earnings per share were $0.51, a decrease from the previous year but an increase from the fourth quarter of 2023.
Core deposits, excluding brokered deposits and public funds, grew by 5% annualized.
Loans grew at a 1.2% annualized rate during the quarter.
Revenue by Geographic Location
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