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Dec 31, 2021
United Community Banks Q4 2021 Earnings Report
Reported net income of $52.0 million, with diluted earnings per share of $0.55. Return on assets was 0.96% and return on common equity was 9.3%.
Key Takeaways
United Community Banks, Inc. announced Q4 net income of $52.0 million and diluted earnings per share of $0.55. The results were impacted by lower levels of accretion from PPP loans. The company completed the acquisition of Aquesta Financial Holdings, Inc. and Aquesta Bank on October 1.
Net income for the fourth quarter was $52.0 million.
Pre-tax, pre-provision income was $65.6 million.
Diluted earnings per share were $0.55.
Annualized organic loan growth (excluding PPP and loans received through the Aquesta acquisition) was 7% and 17% annualized organic deposit growth.
Forward Guidance
United Community Banks anticipates a great year in 2022, driven by strong business momentum and an engaged team of bankers.
Positive Outlook
- Strong business momentum
- Outstanding team of engaged bankers
- Successful acquisition of Aquesta Financial Holdings, Inc.
- Expansion into high-growth markets
- Recognition as one of the best banks to work for
Challenges Ahead
- Risk that cost savings and revenue synergies from acquisitions may not be realized
- Disruption of customer, supplier, employee or other business partner relationships as a result of acquisitions
- Possibility that costs related to the acquisition may be greater than anticipated
- Reputational risk and reaction of stakeholders to the acquisitions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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