| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 276.51 | 11.6% |
| Total Income | 276.51 | 11.6% |
| Expenditure | 168.16 | 7.4% |
| PBT | 108.36 | 18.9% |
| Net Profit | 84.29 | 18.0% |
| OPM | — | |
| NPM | 30.48% | 1.65pp |
| EPS | 0.69 | 19.0% |
United Community Banks Reports Q1 2026 Net Income of $84.3 Million
21 Apr 2026 · 21 Apr, 5:10 pm
Summary
United Community Banks, Inc. announced net income for the first quarter of 2026 of $84.3 million and pre-tax, pre-provision income of $119.2 million. Diluted earnings per share of $0.69 for the quarter represented an increase of $0.11 from the first quarter of 2025. Total revenue improved $28.8 million, or 12%, from a year ago. Chairman and CEO Lynn Harton stated that the first quarter results mark the start of what they expect to be a great year, highlighting improvements in earning asset mix and net interest margin.
Key Highlights
- 1
United Community Banks reported a net income of $84.3 million for the first quarter of 2026.
- 2
Diluted earnings per share increased by $0.11 to $0.69 compared to the first quarter of 2025.
- 3
Total revenue improved by $28.8 million, or 12%, year-over-year to $276.5 million.
- 4
The net interest margin increased by 29 basis points from a year ago to 3.65%.
- 5
Loan growth reached $218 million, representing a 4.5% annualized increase from the fourth quarter.
- 6
Customer deposits were up $237 million from the fourth quarter.
- 7
The company repurchased 1.09 million shares of common stock at an average price of $33.97 per share during the quarter.
Management Comments
Lynn Harton
Our first quarter results mark the start of what we expect to be a great year for United. We continue to improve our earning asset mix by growing loans, funded by maturing investment securities and growth in customer deposits. This shift in earning asset composition and our strategic focus on deposit pricing helped to widen our net interest margin by three basis points in the first quarter. In fact, our net interest margin is up 29 basis points when compared to the first quarter of 2025. We entered the year with a small wholesale funding position, but deposit growth allowed that to be completely repaid by the end of the quarter. We took advantage of our strong capital position and repurchased 1.09 million shares of our common stock at an average price of $33.97 per share during the quarter. All our key performance metrics show significant improvement when compared to the first quarter of 2025. With strong capital and liquidity, we notified holders of our remaining $100 million in subordinated debentures of our intent to redeem those securities in the second quarter.
Lynn Harton
I’m very proud of our first quarter financial results and also pleased to report that we were notified in March that United had earned its twelfth JD Power award for outstanding customer satisfaction in the Southeast. That is a tremendous accomplishment by our exceptional team of bankers and a testament to the enduring nature and consistency of our strong corporate culture throughout our organization. Congratulations to our entire team for this great recognition of your focus on customer care.”
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