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Sep 30, 2024
United Community Banks Q3 2024 Earnings Report
United Community Banks reported strong customer deposit growth driving results in the third quarter of 2024.
Key Takeaways
United Community Banks reported a net income of $47.3 million for the third quarter of 2024. The results were impacted by the sale of manufactured housing loans, which negatively affected the quarter by $21.4 million after-tax. Customer deposits increased by $262 million, or 5% annualized.
Net income for the third quarter of 2024 was $47.3 million.
Diluted earnings per share were $0.38, a decrease of 3% year-over-year and 30% from the previous quarter.
Customer deposits, excluding brokered deposits, increased by $262 million, or 5% annualized.
The company sold $318 million in manufactured housing loans, impacting the quarter negatively by $21.4 million after-tax.
Revenue by Geographic Location
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