U.S. Markets open in 2 hrs 44 mins

United Community Banks: 2Q Earnings Snapshot

BLAIRSVILLE, Ga. (AP) _ United Community Banks Inc. (UCBI) on Tuesday reported second-quarter net income of $43.8 million.

The bank, based in Blairsville, Georgia, said it had earnings of 55 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 59 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The bank holding company posted revenue of $163.7 million in the period. Its revenue net of interest expense was $142.3 million, which met Street forecasts.

United Community Banks shares have climbed 31% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.08, a drop of 10% 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