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Year-over-year increase reported by United Community Bank

Banking & Finance
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United Community Banks Inc. reported second quarter net income of $28.3 million, up from the $25.3 million reported in the second quarter of 2016.

Net income rose to $29.4 million for the second quarter of 2017 compared with $26 million for the second quarter of 2016. 

“It marks our 12th consecutive quarter of double-digit growth in diluted operating earnings per share, which is a key driver of stock price appreciation,” said Jimmy Tallent, chairman and CEO of United Community Banks Inc., in a news release.

During the second quarter, United Community Bank acquired Horry County State Bank and North Carolina-based Four Oaks Bank and Trust Co. The acquisitions will close in the third and fourth quarters respectively.

United Community Banks Inc. is based in Blairsville, Ga. The company's banking subsidiary, United Community Bank, operates 134 offices in Georgia, North Carolina, South Carolina and Tennessee.

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