On Oct. 23, United Community Banks
- Net interest income increased 17.9%, but the company's net interest margin deteriorated by 18 basis points.
- Year over year, loans and deposits increased 20% and 16%, respectively, with help from the acquisitions of Southern National Bank and First Bank of the South.
- Non-performing assets as a percentage of assets rose 63 basis points because of the slowdown in the housing and construction markets, and rising inventory levels.
- The company repurchased 1.3 million shares at an average cost of $24.43 during the quarter.
- United Community Banks has a two-star Motley Fool CAPS rating out of a possible five. Competitors Bank of America
(NYSE:BAC) , Wachovia(NYSE:WB) , and BB&T(NYSE:BBT) carry ratings of three, two, and three stars, respectively.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q3 2007 |
Q3 2006 |
Change |
|
|---|---|---|---|
|
Total Revenue |
$83,124 |
$68,866 |
20.7% |
|
Net Interest Income |
$71,209 |
$60,420 |
17.9% |
|
Net Profit |
$22,536 |
$17,413 |
29.4% |
|
EPS* |
$0.46 |
$0.42 |
9.5% |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q3 2007 |
Q3 2006 |
Change* |
|
|---|---|---|---|
|
Net Interest Margin |
3.89% |
4.07% |
(0.18) |
|
Efficiency Ratio |
55.34% |
56.19% |
(0.85) |
|
Nonperforming Assets / Assets |
0.77% |
0.14% |
0.63 |
|
Return on Average Assets |
1.11% |
1.09% |
0.02 |
|
Return on Average Equity |
10.66% |
13.22% |
(2.56) |
Find out more about bank performance ratios.
Balance Sheet Highlights
|
Assets |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Investments |
$1,396,288 |
$1,017,827 |
37.2% |
|
Loans |
$5,952,749 |
$4,965,365 |
19.9% |
|
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
|---|---|---|---|
|
Deposits |
$6,154,308 |
$5,309,219 |
15.9% |
|
Total Liabilities |
$7,346,839 |
$5,928,556 |
23.9% |
Learn about bank assets and bank liabilities.
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