BLAIRSVILLE, Ga. (AP) _ United Community Banks Inc. (UCBI) on Tuesday reported second-quarter net income of $24.9 million.
The Blairsville, Georgia-based bank said it had earnings of 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The bank holding company posted revenue of $163.8 million in the period. Its revenue net of interest expense was $149.5 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $141 million.
United Community Banks shares have decreased 38% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19, a fall of 32% in the last 12 months.