BLAIRSVILLE, Ga. (AP) _ United Community Banks Inc. (UCBI) on Tuesday reported third-quarter earnings of $48 million.
The Blairsville, Georgia-based bank said it had earnings of 60 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 63 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The bank holding company posted revenue of $169.6 million in the period. Its revenue net of interest expense was $148.4 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $143.6 million.
United Community Banks shares have climbed 37% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.33, an increase of 19% in the last 12 months.