United Bancorporation of Alabama, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023
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United Bancorporation of Alabama, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 14.99 million compared to USD 11.67 million a year ago. Net income was USD 7.15 million compared to USD 5.67 million a year ago. Basic earnings per share from continuing operations was USD 1.99 compared to USD 1.58 a year ago. Diluted earnings per share from continuing operations was USD 1.99 compared to USD 1.58 a year ago.
For the nine months, net interest income was USD 43.43 million compared to USD 29.86 million a year ago. Net income was USD 21.15 million compared to USD 13.53 million a year ago. Basic earnings per share from continuing operations was USD 5.88 compared to USD 3.68 a year ago. Diluted earnings per share from continuing operations was USD 5.88 compared to USD 3.68 a year ago.
United Bancorporation of Alabama, Inc. is a financial holding company that primarily serves Southwest Alabama as well as Northwest Florida. The Company is a Community Development Financial Institution (CDFI) that operates three subsidiaries: United Bank, Town-Country United Bank and UB Community Development. United Bank is also designated as a CDFI and operates 22 locations across five counties. Town-Country United Bank serves Wilcox County and its surrounding counties. UB Community Development focuses on economic and community development through its New Market Tax Credits, affordable housing and community facilities programs. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Daphne, Foley, Lillian, Loxley, Magnolia Springs, Semmes, Silverhill and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton and Pace.