United Community Banks, Inc. Reports Earnings Results for the Fourth Quarter of 2012; Announces Net Charge-Offs for the Fourth Quarter of 2012
January 24, 2013 at 05:30 am EST
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United Community Banks, Inc. reported earnings results for the fourth quarter of 2012. For the quarter, the company reported earnings of $9.3 million or $0.11 per share. The company's core pretax pre-credit earnings were $29.1 million, down $761,000 from the third quarter of 2012 and up $2.4 million from the fourth quarter of 2011. Severance charges decreased net income by about $600,000 or $0.01 per share.
Net charge-offs were down $6.1 million from the third quarter to $14.5 million for the fourth quarter of 2012.
United Community Banks, Inc. is a financial holding company for United Community Bank (the Bank). It provides a range of financial products and services to the commercial, retail, governmental, educational, energy, health care and real estate sectors. This includes a variety of deposit products, secured and unsecured loans, mortgage loans, payment and commerce solutions, equipment finance services, wealth management, trust services, private banking, investment advisory services, insurance services, and other related financial services. These products and services are delivered through a variety of channels including its branches, other offices, the Internet, and mobile applications. Its deposit products include checking accounts, savings accounts, money market accounts and other deposit accounts. Its investment portfolio includes residential and commercial mortgage-backed securities, asset-backed securities, United States agency and municipal obligations.
UNITED COMMUNITY BANKS, INC. 
