On July 24, United Community Banks
- Fee revenue increased by 38% because of growth in transactions and new accounts resulting from deposit programs and higher ATM and debit card usage.
- Total revenue and net interest income increased 21% and 16%, respectively.
- The board of directors approved an additional 1-million-share stock purchase, taking the total to 2 million shares for stock repurchase.
- Two new offices were opened, and the Gwinnett Commercial Group acquisition was completed during the quarter.
- The bank expects operating earnings-per-share growth of 10%-12% for 2007.
- United Community Banks has a two-star Motley Fool CAPS rating (out of a potential five). Its competitors Bank of America
(NYSE:BAC) and Wachovia(NYSE:WB) have three- and two-star ratings, respectively.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Total Revenue |
$80,821 |
$66,759 |
21.1% |
|
Net Interest Income |
$67,967 |
$58,483 |
16.2% |
|
Net Profit |
$11,911 |
$16,929 |
(29.6%) |
|
EPS |
$0.46 |
$0.41 |
12.2% |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Net Interest Margin |
3.94% |
4.07% |
(0.13%) |
|
Efficiency Ratio |
56.59% |
56.04% |
0.55% |
|
Nonperforming Assets / Assets |
0.54% |
0.14% |
0.40% |
|
Return on Average Assets |
0.64% |
1.10% |
(0.46%) |
|
Return on Average Equity |
7.05% |
13.41% |
(6.36%) |
Find out more about bank performance ratios.
Balance Sheet Highlights
|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Investments |
$1,267,420 |
$1,020,472 |
24.2% |
|
Loans |
$5,999,093 |
$4,810,277 |
24.7% |
|
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Deposits |
$6,361,269 |
$4,976,650 |
27.8% |
|
Total Liabilities |
$7,258,936 |
$5,834,839 |
24.4% |
Learn about bank assets and bank liabilities.
Related Foolishness:
- Fool Exclusive: A Conversation With BB&T
- Wachovia Is One Big Deal
- Further Savings for Regions Financial
Bank of America is a Motley Fool Income Investor selection.
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