United Community Banks posts Q3 net loss
UCB•United Community Banks reported a third-quarter net loss of $139.75 million and approved an additional $100 million share repurchase authorization.
1. Quarterly results
United Community Banks reported a third-quarter net loss of $139.75 million. The company said results reflected the sale of its equipment finance business, investment portfolio restructuring and the acquisition of Peach State Bank. It cited high single-digit growth in core loans and deposits, and approved an incremental $100 million share repurchase authorization. The company provided no specific financial guidance for current or future periods.
