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United Community Banks: 1Q Earnings Snapshot

BLAIRSVILLE, Ga. (AP) _ United Community Banks Inc. (UCBI) on Tuesday reported first-quarter net income of $43.9 million.

The Blairsville, Georgia-based bank said it had earnings of 55 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 56 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The bank holding company posted revenue of $157.5 million in the period. Its revenue net of interest expense was $136.6 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $137.2 million.

United Community Banks shares have risen 26 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.06, a decrease of 17 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UCBI at https://www.zacks.com/ap/UCBI