United Community Banks, Inc. Reports Fourth Quarter and Full Year Results

GREENVILLE, S.C., Jan. 22, 2025 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced net income for the fourth quarter of 2024 of $75.8 million and pre-tax, pre-provision income of $108 million. Diluted earnings per share of $0.61 for the quarter represented an increase of $0.50 from the fourth quarter a year ago and an increase of $0.23 from the third quarter of 2024. As previously reported, the fourth quarter of 2023 included a loss from restructuring our investment securities portfolio and the third quarter of 2024 included the loss from the sale of manufactured housing loans. For the full year of 2024, net income was $252 million and pre-tax, pre-provision income was $374 million, compared with $188 million and $322 million, respectively, for 2023. Diluted earnings per share of $2.04 for 2024 were up $0.50 from $1.54 in 2023.

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