United Community Banks: Q4 Earnings Snapshot

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GREENVILLE, S.C. (AP) — GREENVILLE, S.C. (AP) — United Community Banks Inc. (UCB) on Wednesday reported fourth-quarter profit of $75.8 million.

The bank, based in Greenville, South Carolina, said it had earnings of 61 cents per share. Earnings, adjusted for one-time gains and costs, 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 56 cents per share.

The bank holding company posted revenue of $385.5 million in the period. Its revenue net of interest expense was $250.9 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $243.1 million.

For the year, the company reported profit of $252.4 million, or $2.04 per share. Revenue was reported as $952.1 million.

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