United Community Banks reports Q1 EPS 70c, consensus 70c

Reports Q1 revenue $276.5M, consensus $273.87M. Chairman and CEO Lynn Harton stated, “Our first quarter results mark the start of what we expect to be a great year for United. We continue to improve our earning asset mix by growing loans, funded by maturing investment securities and growth in customer deposits. This shift in earning asset composition and our strategic focus on deposit pricing helped to widen our net interest margin by three basis points in the first quarter. In fact, our net interest margin is up 29 basis points when compared to the first quarter of 2025. We entered the year with a small wholesale funding position, but deposit growth allowed that to be completely repaid by the end of the quarter. We took advantage of our strong capital position and repurchased 1.09 million shares of our common stock at an average price of $33.97 per share during the quarter. All our key performance metrics show significant improvement when compared to the first quarter of 2025. With strong capital and liquidity, we notified holders of our remaining $100 million in subordinated debentures of our intent to redeem those securities in the second quarter.”