NYSE$UCB
United Community Banks Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported net income and EPS decrease due to various factors, including the absence of gains and increased expenses, but customer deposits and loans grew.
United Community Banks reported a decrease in net income and diluted earnings per share for the third quarter of 2023 compared to both the previous quarter and the same quarter last year. Customer deposits and loans experienced annualized growth. The net interest margin contracted due to deposit pricing competition, while noninterest income was down due to the absence of gains. Noninterest expenses increased due to the FNBSM acquisition.
- Net income for the third quarter was $47.9 million.
- Diluted earnings per share decreased to $0.39, a 26% decrease from Q2 2023 and a 47% decrease from Q3 2022.
- Customer deposits grew by 5.6% annualized and loans grew at a 5.4% annualized rate.
- Net interest margin decreased by 13 basis points to 3.24%.
Headline financials
Revenue & EPS history
United Community Banks · Revenue · Quarterly
$204M
Forward guidance
United expects broader credit performance to remain strong, but is appropriately cautious in its portfolio management given the potential for ongoing changes in the economic environment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.0%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+2.4%
Avg return
30 days after
44%
28 / 63 earnings
Positive
+7.4%
Q2 2014
Best reaction
-9.6%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | -3.6% | -3.1% | |
| Q4 2025 | +2.8% | +4.2% | +6.4% | |
| Q3 2025 | -0.5% | -0.5% | +1.0% | |
| Q2 2025 | -0.0% | -1.0% | +2.7% | |
| Q1 2025 | +6.6% | +10.9% | +16.4% | |
| Q4 2024 | -1.5% | +0.8% | -4.1% | |
| Q3 2024 | -1.5% | -0.3% | +19.5% | |
| Q2 2024 | +4.2% | +2.9% | +1.6% | |
| Q1 2024 | -1.4% | -2.1% | -2.3% | |
| Q4 2023 | -2.0% | -0.3% | -10.4% | |
| Q3 2023 | -9.6% | -13.4% | -4.7% | |
| Q2 2023 | +2.5% | +1.5% | +0.9% | |
| Q1 2023 | -1.0% | -5.0% | -17.3% | |
| Q4 2022 | -8.8% | -9.1% | -5.7% | |
| Q3 2022 | -0.7% | -1.3% | +0.8% | |
| Q2 2022 | +3.6% | +3.1% | +16.1% | |
| Q1 2022 | +2.9% | +1.5% | -5.1% | |
| Q4 2021 | -6.2% | -10.1% | -4.3% | |
| Q3 2021 | +3.0% | +5.3% | +5.9% | |
| Q2 2021 | +0.3% | +0.1% | +2.4% | |
| Q1 2021 | -4.3% | -1.1% | +2.9% | |
| Q4 2020 | +0.0% | +0.8% | +2.3% | |
| Q3 2020 | +3.7% | +11.9% | +31.0% | |
| Q2 2020 | +6.3% | +5.7% | -0.1% | |
| Q1 2020 | -4.6% | -1.1% | -0.4% | |
| Q4 2019 | -3.7% | -4.8% | -2.7% | |
| Q3 2019 | +4.3% | +4.0% | +5.7% | |
| Q2 2019 | +4.5% | +5.0% | -4.0% | |
| Q1 2019 | +5.9% | +7.1% | +1.6% | |
| Q4 2018 | +5.1% | +6.6% | +18.7% | |
| Q3 2018 | -5.2% | -3.3% | +2.5% | |
| Q2 2018 | -2.5% | -3.3% | -1.4% | |
| Q1 2018 | -0.9% | -0.7% | +1.3% | |
| Q4 2017 | +0.1% | +2.8% | -0.2% | |
| Q3 2017 | +2.3% | +0.4% | -1.8% | |
| Q2 2017 | -2.2% | -3.8% | -8.7% | |
| Q1 2017 | +1.4% | -0.5% | -4.6% | |
| Q4 2016 | +1.8% | -2.0% | +3.0% | |
| Q3 2016 | +0.0% | +1.2% | +27.1% | |
| Q2 2016 | +1.5% | -0.3% | +6.9% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | -1.6% | — | — | |
| Q3 2015 | -0.2% | — | — | |
| Q2 2015 | -1.7% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +5.9% | — | — | |
| Q3 2014 | +3.5% | — | — | |
| Q2 2014 | +7.4% | — | — | |
| Q1 2014 | -5.0% | — | — | |
| Q4 2013 | -3.9% | — | — | |
| Q3 2013 | +2.7% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q1 2013 | -2.6% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | -5.2% | — | — | |
| Q2 2012 | +5.3% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +1.9% | — | — | |
| Q3 2010 | -5.0% | — | — | |
| Q3 2011 | -5.0% | — | — | |
| Q2 2011 | -0.3% | — | — | |
| Q2 2010 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — |
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