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UCBI United Community Banks

United Community Banks, Inc. is a bank holding company, which engages in the provision of consumer and business banking services. The firm caters on individuals and small and medium-sized businesses. It offers checking, savings, mortgages, borrowing, digital baking, credit cards, and investing services. The company was founded in 1950 and is headquartered in Blairsville, GA.

Company profile

Ticker
UCBI, UCBIO
Exchange
Website
CEO
H. Lynn Harton
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
UNION BANCSHARES INC /GA/
SEC CIK
IRS number
581807304

UCBI stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

24 Feb 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 H LYNN Harton Common Stock Sell Dispose S No Yes 33.9118 10,000 339.12K 242,518
9 Mar 21 Robert A. Edwards Common Stock Gift Dispose G No No 0 2,175 0 32,433
26 Feb 21 H LYNN Harton Common Stock Sell Dispose S No Yes 33.41 20,000 668.2K 252,518
15 Feb 21 H LYNN Harton Common Stock Payment of exercise Dispose F No No 32.24 359 11.57K 272,518
15 Feb 21 H LYNN Harton Common Stock Grant Aquire A No No 32.24 15,299 493.24K 272,877
15 Feb 21 Richard Bradshaw Common Stock Payment of exercise Dispose F No No 32.24 1,206 38.88K 47,091
15 Feb 21 Richard Bradshaw Common Stock Grant Aquire A No No 32.24 3,845 123.96K 48,297

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

87.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 205 184 +11.4%
Opened positions 36 18 +100.0%
Closed positions 15 25 -40.0%
Increased positions 66 80 -17.5%
Reduced positions 67 58 +15.5%
13F shares
Current Prev Q Change
Total value 2.15B 1.21B +78.5%
Total shares 75.71M 71.18M +6.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 12.81M $364.31M +3.0%
Vanguard 8.93M $254.05M +2.5%
STT State Street 3.35M $95.81M +8.8%
JHG Janus Henderson 3.28M $93.23M -4.4%
Dimensional Fund Advisors 3.2M $91.06M -3.9%
GS Goldman Sachs 2.81M $79.92M -7.1%
FMR 2.51M $71.29M -0.6%
BK Bank Of New York Mellon 2.27M $64.53M +2.2%
Schroder Investment Management 2.26M $64.39M +9.3%
MCQEF Macquarie 2.18M $61.87M -5.5%
Largest transactions
Shares Bought/sold Change
HoldCo Asset Management 1.82M +1.82M NEW
Norges Bank 1.01M +1.01M NEW
Rothschild & Co Asset Management Us 1.12M +660.14K +142.4%
Wellington Management 585.86K +534.87K +1049.0%
Allianz Asset Management GmbH 162.43K -441.76K -73.1%
Assenagon Asset Management 0 -413.2K EXIT
BLK Blackrock 12.81M +374.23K +3.0%
Deprince Race & Zollo 361.75K +361.75K NEW
Segall Bryant & Hamill 1.19M +338.05K +39.7%
Snyder Capital Management L P 1.48M +333.74K +29.0%

Financial report summary

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Risks
  • ITEM 1A. RISK FACTORS.
  • CREDIT AND COUNTERPARTY RISK
  • We are exposed to higher credit and concentration risk from our commercial real estate, commercial and industrial and commercial construction lending.
  • If our allowance for credit losses was required to be increased because it is not large enough to cover actual losses in our loan portfolio, our results of operations and financial condition could be materially and adversely affected.
  • The soundness of other financial institutions could adversely affect us.
  • The inability to maintain or raise funds in amounts adequate to meet our needs could impair our ability to fund our operations and jeopardize our financial condition.
  • We may need to raise additional capital in the future to support our operations and business plan and our ability to raise capital and maintain required capital levels could be adversely affected by changes in the capital markets and deteriorating economic and market conditions.
  • The inability of our subsidiaries to declare and pay dividends or other distributions to the Holding Company could adversely affect its liquidity and ability to declare and pay dividends.
  • We are dependent on our information technology and telecommunications systems and third-party servicers, and systems failures, interruptions, cyber-attacks or breaches of security could disrupt our business and have an adverse effect on our financial condition and results of operations.
  • We rely on information technology and telecommunications systems and certain third-party service providers and certain failures could materially adversely affect our operations.
  • Failure to keep pace with technological changes could adversely affect our business.
  • Competition from financial institutions and other financial service providers may adversely affect our profitability.
  • An ineffective risk management framework could have a material adverse effect on our strategic planning and our ability to mitigate risks and/or losses and could have adverse regulatory consequences.
  • We may be subject to losses due to fraudulent and negligent conduct of our loan customers, third-party service providers and employees.
  • Our inability to retain management and key employees or to attract new experienced financial services or technology professionals could impair our relationship with our customers, reduce growth and adversely affect our business.
  • We are subject to certain litigation, and our expenses related to this litigation may adversely affect our results.
  • Environmental liability associated with commercial lending could result in losses.
  • REGULATORY COMPLIANCE RISK
  • Changes to capital requirements for bank holding companies and depository institutions may restrict our ability to pay or increase dividends on or repurchase our common stock and may negatively affect our results of operations.
  • Issuance of additional common stock or other equity securities required to meet regulatory requirements in the future could dilute the ownership interest of existing shareholders.
  • Disruptions in the operation of government or changes in government funding may adversely affect us.
  • Changes in the method pursuant to which LIBOR and other benchmark rates are determined could adversely impact our business and results of operations.
  • Adverse conditions in the business or economic environment where we operate, as well as broader conditions, globally and in the United States, could have a material adverse effect on our financial condition and results of operations.
  • Changes in interest rate levels could negatively affect the demand for our products, our net interest margin, and consequently our net earnings, and our ability to manage interest rate risk exposure may be ineffective.
  • The COVID-19 pandemic is expected to continue to disrupt and adversely affect our business and results of operations, and the ultimate impacts of the pandemic on our business, financial condition and results of operations will depend on future developments and other factors that are highly uncertain and will be impacted by the scope and duration of the pandemic and actions taken by governmental authorities in response to the pandemic.
  • Our acquisitions and future expansion may result in additional risks.
  • SPECIFIC RISKS RELATED TO OWNERSHIP OF OUR COMMON STOCK
  • United’s corporate organizational documents and the provisions of Georgia law to which we are subject contain certain provisions that could have an anti-takeover effect and may delay, make more difficult or prevent an attempted acquisition of United that you may favor.
  • An investment in our common stock is not an insured deposit and is not guaranteed by the FDIC.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results. As a result, current and potential holders of our securities could lose confidence in our financial reporting, which would harm our business and the trading price of our securities.
  • Our reported financial results incorporate significant assumptions, estimates and judgments. In addition, changes in accounting standards or interpretations could impact our reported earnings and financial condition.
  • We could be subject to changes in tax laws, regulations and interpretations or challenges to our income tax provision.
  • Negative publicity could damage our reputation and our business.
  • Although our common stock currently is traded on the Nasdaq, it has less liquidity than other stocks quoted on a national securities exchange.
  • Our stock price can be volatile.
Management Discussion
  • ITEM 7.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
  • For additional information related to financial trends between 2019 and 2018 please see the information under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on February 27, 2020, which information under that caption is incorporated herein by this reference. Historical results of operations are not necessarily predictive of future results.
  • This Report contains financial information determined by methods other than in accordance with GAAP. Such non-GAAP financial information includes the following measures: “tangible book value per common share” and “tangible common equity to tangible assets.” In addition, management presents non-GAAP operating performance measures, which exclude merger-related and other items that are not part of our core business operations. Operating performance measures include “expenses – operating,” “net income – operating,” “diluted net income per common share – operating,” “return on common equity – operating,” “return on tangible common equity – operating,” “return on assets – operating,” “dividend payout ratio – operating” and “efficiency ratio – operating.” Management has developed internal processes and procedures to accurately capture and account for merger-related and other charges and those charges are reviewed with the audit committee of our Board each quarter. Management uses these non-GAAP measures because it believes they may provide useful supplemental information for evaluating our operations and performance over periods of time, as well as in managing and evaluating our business and in discussions about our operations and performance. Management believes these non-GAAP measures may also provide users of our financial information with a meaningful measure for assessing our financial results and credit trends, as well as a comparison to financial results for prior periods. These non-GAAP measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP and are not necessarily comparable to other similarly titled measures used by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included in Table 1 of MD&A.
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