United Community Banks, Inc. Reports Third Quarter Earnings
Key Highlights
- ➤Operating net income $93.7 million, up 8% sequentially, versus $139.7 million GAAP net loss
- ➤Navitas equipment finance business sold for $2.0 billion cash proceeds, a 7% premium to par
- ➤Peach State acquisition contributed $520 million loans and $678 million deposits
- ➤Core loan growth reached 9.8% annualized, excluding Peach State and Navitas impacts
- ➤Net interest margin was 3.68%, stable sequentially and up 10 basis points year-over-year
Expert Statements
Lynn Harton, Chairman and CEO of United Community Banks, Inc.
“Our third quarter results reflect key strategic actions that simplify our balance sheet, reduce risk, and strengthen future operating performance. We completed the acquisition of Peach State Bank on August 1, the sale of our Navitas equipment finance business on September 1, and the restructuring of our investment portfolio in early September. The restructuring shortened duration and significantly improved the yield on our portfolio. At the same time, we achieved high single-digit growth in both core loans and customer deposits in the quarter, reflecting strong momentum resulting from our investment in hiring top talent. New loan production exceeded $1 billion for the second consecutive quarter. The strategies executed in the third quarter position us very well for the future, as demonstrated by improvements in operating return on assets, return on tangible common equity, and operating efficiency ratio.”
Lynn Harton, Chairman and CEO of United Community Banks, Inc.
“The actions completed in the third quarter allow us to focus on growing the core banking business within our outstanding Southeast footprint. We believe these actions, including our strong liquidity and capital, position us well for long-term success.”
GREENVILLE, S.C., Oct. 20, 2026 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced financial results for the quarter ended September 30, 2026, which included 9.8% annualized core loan growth, 8.0% annualized core customer deposit growth, and a stable margin following six consecutive quarters of margin expansion.
Chairman and CEO Lynn Harton stated, “Our third quarter results reflect key strategic actions that simplify our balance sheet, reduce risk, and strengthen future operating performance. We completed the acquisition of Peach State Bank on August 1, the sale of our Navitas equipment finance business on September 1, and the restructuring of our investment portfolio in early September. The restructuring shortened duration and significantly improved the yield on our portfolio. At the same time, we achieved high single-digit growth in both core loans and customer deposits in the quarter, reflecting strong momentum resulting from our investment in hiring top talent. New loan production exceeded $1 billion for the second consecutive quarter. The strategies executed in the third quarter position us very well for the future, as demonstrated by improvements in operating return on assets, return on tangible common equity, and operating efficiency ratio.”
Get started
Create a free account to read the full story.