United Community Banks, Inc. is a bank holding company for United Community Bank, providing financial services in the United States. It offers deposit products such as checking, savings, and money market accounts, as well as various loans including commercial, residential, and consumer loans. The company also provides private banking, investment management, financial planning, insurance products, and trust services. Founded in 1950, it is headquartered in Greenville, South Carolina.
United Community Banks Posts $280.5 Million Q2 Revenue, Misses EPS Estimates
United Community Banks reported second-quarter revenues of $280.5 million, up 7.4% year on year, in line with analysts' expectations but marked by a significant miss of analysts' EPS estimates and net interest income in line with estimates. The stock is down 4.6% since reporting and currently trades at $34.38. Among the 94 regional banks stocks tracked, revenues as a group beat analysts' consensus estimates by 0.6%, while share prices on average are down 6.7% since the latest earnings results. OFG Bancorp posted the strongest quarter, with revenues of $190.3 million, up 4.4% year on year and outperforming expectations by 3.9%, while Banc of California was the weakest, with revenues of $285.7 million, up 4.7% but falling short of expectations by 3.1% and a stock down 18.3% since results. Dime Community Bancshares reported revenues of $128.4 million, up 17.2% and beating expectations by 4.1%, and Seacoast Banking reported revenues of $210 million, up 38.4% year on year, meeting analysts' expectations.
UCB · Capital · Negative United Community Banks missed analysts' EPS estimates for Q2 despite revenue growth, with the stock down 4.6% since reporting.
BANC · Capital · Negative Banc of California was the weakest regional bank, with revenue falling short of expectations by 3.1% and its stock down 18.3% since results.
DCOM · Capital · Positive Dime Community Bancshares reported revenues of $128.4 million, up 17.2% and beating expectations by 4.1%.
OFG · Capital · Positive OFG Bancorp posted the strongest quarter, with revenues up 4.4% year on year and outperforming expectations by 3.9%.
SBCF · Capital · Neutral Seacoast Banking reported revenues of $210 million, up 38.4% year on year but merely meeting analysts' expectations.
United Community Banks Completes Balance Sheet Repositioning, Boosts Buyback
United Community Banks, Inc. announced the completion of strategic initiatives that simplify and strengthen its balance sheet, including a $2.0 billion securities sale and a $100 million increase to its share repurchase authorization. Following the September 1 sale of Navitas Credit Corp. and NLFC Reinsurance Corp, which netted approximately $2.0 billion, the company reclassified $2.2 billion in held-to-maturity securities to available-for-sale and sold about $2.6 billion of lower-yielding securities with a weighted average yield of 2.20%. Proceeds are being redeployed into cash and short-duration securities yielding approximately 4.5%, reducing interest rate risk and improving future earnings, despite an expected pre-tax loss of about $300 million. The company projects its CET1 ratio will remain above 13% for the third quarter of 2026, and it has repurchased $87 million of shares in 2026, including $50 million in the third quarter, offsetting dilution from the recently completed acquisition of Peach State Bancshares, Inc.
UCB · Capital · Positive Completed balance-sheet repositioning with $2.6B securities sale, $100M buyback increase, and $87M repurchased in 2026, improving future earnings despite a $300M pre-tax loss.
Navitas Credit Corp. · · Neutral Navitas Credit Corp. was sold on September 1 as part of the repositioning, netting ~$2.0B, but no standalone impact on it is described.
NLFC Reinsurance Corp. · · Neutral NLFC Reinsurance Corp. was sold alongside Navitas, netting ~$2.0B, with no separate impact on it described.
United Community Banks Completes $2.0 Billion Sale of Navitas to Wafra
United Community Banks, Inc. announced the completion of the sale of its equipment finance business, Navitas, to funds managed by Wafra Inc. for approximately $2.0 billion in cash. The transaction, which includes Navitas Credit Corp. and NLFC Reinsurance Corp., represents a 7% premium to the par value of Navitas' loan portfolio. United's Chairman and CEO Lynn Harton said the sale reinforces the bank's focus on its core Southeastern relationship banking business and enhances liquidity and capital strength. BofA Securities served as exclusive financial advisor to United, with Squire Patton Boggs as legal advisor, while Wafra was advised by Sidley Austin, Chapman and Cutler, and Clifford Chance.
UCB · Capital · Positive United Community Banks completed the $2.0B cash sale of its Navitas equipment finance unit at a 7% premium to par, boosting liquidity and capital strength.
United Community Names Tom Speir as New Chief Financial Officer
United Community has named Tom Speir as its new executive vice president and chief financial officer. Speir brings more than two decades of financial experience, including balance sheet management, M&A, strategic planning, and investor relations. He will join the Greenville, South Carolina-based bank on September 8, succeeding Jefferson Harralson, who announced his retirement earlier this year. Chief Executive Officer Lynn Harton said Speir's proven experience and relationships in the investment community will help the company continue to grow.
UCB · Capital · Positive Appointment of new CFO with strong financial and investor relations experience is positive for leadership and strategic growth.
United Community Banks completes merger with Peach State Bancshares
United Community Banks, Inc. completed its merger with Peach State Bancshares, Inc., effective August 1, 2026. Peach State merged into United, and its wholly-owned subsidiary Peach State Bank & Trust was subsequently merged into United Community Bank. Peach State Bank, headquartered in Gainesville, Georgia, reported total assets of $784 million, total loans of $524 million, and total deposits of $707 million as of June 30, 2026. The bank will operate under the United Community brand after systems conversion expected in the first quarter of 2027. United Community Banks, Inc. had $29.1 billion in assets as of the same date.
United Community Banks reports Q2 operating EPS of $0.71, up 8% year-over-year
United Community Banks reported second-quarter operating earnings of $0.71 per share, an 8% increase from the prior year, with total revenue rising 7% to $279.3 million. Net interest margin expanded for the sixth consecutive quarter to 3.68%, up 18 basis points year-over-year, while organic loan growth excluding the Navitas portfolio reached 6.4% annualized. The company announced a $38.5 million pre-tax reserve release from reclassifying Navitas loans to held-for-sale, adding $0.25 to GAAP earnings, and noted that with Navitas sold, it will be roughly a 14.5% CET1 ratio. Management highlighted a 17% expansion in revenue producers since September 2025 and expects the pending Peach State acquisition to close early in the third quarter, with projected fourth-quarter expenses around $150 million after removing Navitas's $9 million quarterly run rate.
UCB · Capital · Positive Operating EPS up 8%, revenue up 7%, net interest margin expanded, and reserve release boosted GAAP earnings.
Navitas Credit Corp. · Capital · Negative Navitas loans reclassified to held-for-sale and sold, removing its $9 million quarterly run rate from expenses.
United Community Banks second-quarter profit rises to $114.88 million
United Community Banks reported a second-quarter profit of $114.88 million, or 95 cents per share, up from $76.72 million, or 63 cents per share, a year earlier. Revenue increased 7.3 percent to $279.28 million from $260.23 million. On a non-GAAP basis, net operating income was $86.43 million, or 71 cents per share, compared with $82.52 million, or 66 cents per share, in the prior-year period.
United Community Banks beats Q2 EPS estimates but revenue falls short
United Community Banks reported second-quarter GAAP earnings per share of $0.95, beating analyst expectations by $0.02, while revenue of $279.28 million missed estimates by $1.02 million. Net interest margin rose to 3.68%, up 18 basis points year-over-year and 3 basis points from the first quarter. The provision for credit losses was a negative $29.8 million, reflecting a $38.5 million release of the allowance on Navitas loans reclassified to held-for-sale; excluding that release, the provision was $8.7 million. Customer deposits declined $295 million from the prior quarter, largely due to seasonal public funds outflows, and the company maintained a preliminary Common Equity Tier 1 ratio of 13.5% while declaring a quarterly common dividend of $0.25 per share, up 4% year-over-year.
United States