United Community Banks Company profile
About United Community Banks, Inc.
United Community Banks, Inc. (United) is a bank holding company. United conducts its operations in Georgia, South Carolina, North Carolina, Tennessee, and Florida markets. It operates principally through United Community Bank, its bank subsidiary, is a Georgia state chartered commercial bank that serves both rural and metropolitan markets. It provide an array of commercial and consumer banking services, including checking, savings and time deposit accounts, secured and unsecured loans, mortgage loans, payment services, wire transfers, wealth management, trust services, private banking, investment advisory services, insurance, and other related financial services to its customers. It operates as a locally focused community bank to deliver products and services to customers. The principal sources of funds for its lending activities are customer deposits, repayment of loans, and the sale and maturity of investment securities. Aquesta Financial Holdings, Inc. is the subsidiary of United.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, United Community Banks, Inc. interest income increased 4% to $578.8M. Net interest income after loan loss provision increased 17% to $586.6M. Net income applicable to common stockholders increased 64% to $261.3M. Net interest income after loan loss provision reflects Loans, including fees increase of 2% to $505.7M, Investment securities, including tax exe increase of 13% to $62M.
Equity composition
Common Stock $1 Par, 06/11, 100M auth., 20,913,712 issd. Insiders own 3.04%. IPO: 3/02. Preferred Stock A, $1 Par, 10M auth., 21,700 issd. 12/08, 0.7692% Stock Dividend. 03/09 0.7692% stock dividend. 06/09, 0.76923% stock dividend. 09/09, 0.76923% stock dividend. Pref Stock B, $1 Par, 10M auth, 180K issd. 06/11, 1-for-5 Reverse split.
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