United Community Banks reports Q3 EPS 75c, consensus 70c

Reports Q3 revenue $276.848M, consensus $271.07M. Chairman and CEO Lynn Harton stated, “We are proud of our third quarter financial results. Our teams drove solid loan and deposit growth as well as healthy margin expansion. These actions resulted in meaningful improvement in our return on assets and return on tangible common equity. Tangible book value per share grew by $0.59 from the second quarter – an 11% annualized rate. Loans grew by $254 million, or 5.4% annualized, while customer deposits, excluding seasonal outflow of public funds, were up $137 million or 2.6% annualized. Non-interest bearing deposits, excluding public funds, grew at an annualized rate of 4.7%. Operating efficiency and operating leverage also both continued their improving trend.”