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UCBI United Community Banks

United Community Banks, Inc. is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the largest full-service financial institutions in the Southeast, with $17.8 billion in assets, and 160 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. United Community Bank, United's wholly-owned bank subsidiary, specializes in personalized community banking services for individuals, small businesses and companies throughout its geographic footprint, including Florida under the brand Seaside Bank and Trust. Services include a full range of consumer and commercial banking products, including mortgage, advisory, treasury management, and wealth management. Respected national research firms consistently recognize United for outstanding customer service. In 2020, J.D. Power ranked United highest in customer satisfaction with retail banking in the Southeast, marking six out of the last seven years United earned the coveted award. United was also named 'Best Banks to Work For' by American Banker in 2020 for the fourth year in a row based on employee satisfaction. Forbes included United in its inaugural list of the World's Best Banks in 2019 and again in 2020. Forbes also recognized United on its 2020 list of the 100 Best Banks in America for the seventh consecutive year. United also received five Greenwich Excellence Awards in 2019 for excellence in Small Business Banking and Middle Market Banking, including a national award for Overall Satisfaction in Small Business Banking.

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

7 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 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.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.33B 1.33B 1.33B 1.33B 1.33B 1.33B
Cash burn (monthly) 91.5M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 375.01M n/a n/a n/a n/a n/a
Cash remaining 959.11M n/a n/a n/a n/a n/a
Runway (months of cash) 10.5 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 H LYNN Harton Common Stock Sell Dispose S No Yes 32.16 10,000 321.6K 232,953
1 Jun 21 Blalock Robert H COMMON STOCK Grant Aquire A No No 0 1,441 0 24,504
1 Jun 21 James P Clements COMMON STOCK Grant Aquire A No No 0 1,441 0 3,713
1 Jun 21 Cox L Cathy COMMON STOCK Grant Aquire A No No 0 1,441 0 24,203
1 Jun 21 Daniels Kenneth L COMMON STOCK Grant Aquire A No No 0 1,441 0 11,037

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

88.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 215 205 +4.9%
Opened positions 30 36 -16.7%
Closed positions 20 15 +33.3%
Increased positions 73 66 +10.6%
Reduced positions 75 67 +11.9%
13F shares
Current Prev Q Change
Total value 4.02B 2.15B +86.7%
Total shares 76.62M 75.71M +1.2%
Total puts 0 0
Total calls 24.7K 0 NEW
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 12.74M $434.62M -0.6%
Vanguard 9.28M $316.74M +3.9%
STT State Street 4.36M $149.43M +30.1%
JHG Janus Henderson 3.16M $107.68M -3.7%
Dimensional Fund Advisors 3.11M $106.08M -2.9%
GS Goldman Sachs 2.81M $95.83M -0.1%
FMR 2.31M $78.89M -7.8%
Schroder Investment Management 2.23M $76.02M -1.6%
BK Bank Of New York Mellon 2.18M $74.42M -3.9%
PFG Principal Financial Group Inc - Registered Shares 2.18M $74.31M +12.2%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -1.01M EXIT
STT State Street 4.36M +1.01M +30.1%
Wellington Management 1.28M +693.11K +118.3%
Arrowstreet Capital, Limited Partnership 0 -526.67K EXIT
Cidel Asset Management 469.86K +469.86K NEW
NTRS Northern Trust 1.33M -396.22K -22.9%
Vanguard 9.28M +350.36K +3.9%
Snyder Capital Management L P 1.73M +241.79K +16.3%
PFG Principal Financial Group Inc - Registered Shares 2.18M +237.28K +12.2%
DB Deutsche Bank AG - Registered Shares 292.3K +228.23K +356.2%

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 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Unless the context otherwise requires, the terms “we,” “our,” “us” refer to United on a consolidated basis. References to the Holding Company refer to United Community Banks, Inc. on an unconsolidated basis.
  • We offer a wide array of commercial and consumer banking services and investment advisory services through a 161 branch network throughout Georgia, South Carolina, North Carolina, Tennessee and Florida. We have grown organically as well as through strategic acquisitions. At March 31, 2021, we had consolidated total assets of $18.6 billion and 2,396 full-time equivalent employees.
Content analysis
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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