Every material Form 8-K United Community Banks filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
United Community Banks reported third-quarter 2024 net income of $47.3 million, or $0.38 per diluted share on a GAAP basis, down 30% from the second quarter and 3% from a year earlier. The GAAP results include a $21.4 million after-tax loss, or $0.18 per share, from the sale of $318 million in manufactured housing loans, while operating diluted EPS of $0.57 rose 27% year over year.
Net income of $47.3 million; GAAP diluted EPS of $0.38, down 30% from the second quarter of 2024 and down 3% from the third quarter of 2023.
Sale of $318 million in manufactured housing loans reduced results by $21.4 million after-tax, or $0.18 per share.
Operating diluted EPS of $0.57, up 27% from the year-ago quarter, including a $9.9 million Hurricane Helene loan loss provision.
Preliminary CET1 ratio of 13.1%; quarterly common dividend of $0.24 per share, up 4% year over year.
United Community Banks, Inc. appointed Sally Pope Davis, a retired Goldman Sachs managing director, to its Board of Directors effective September 4, 2024, increasing the board from 12 to 13 members. The filing does not give committee assignments, and the company said she will receive the standard non-employee director compensation. This is a board addition rather than a change in operations or financial results.
Board increased from 12 to 13 directors to create the seat; Davis also joined the board of United Community Bank.
Davis retired in April 2024 from Goldman Sachs after a 35-year career, most recently as a managing director and co-lead portfolio manager for small cap and mid cap value strategies.
Davis also sits on the boards of First Financial Bankshares, Inc. and Core Specialty Holdings, Inc.
Board committee assignments have not yet been determined.
United Community Banks, Inc. said it will transfer the listing of its common stock and Series I depositary shares from Nasdaq to the New York Stock Exchange. Trading on Nasdaq ends at the close on August 5, 2024, and NYSE trading begins at market open on August 6, 2024, under new ticker symbols. The filing is administrative and does not change the company's financial results, but shareholders will see new symbols.
Nasdaq listing and trading expected to end at the close on August 5, 2024
NYSE listing and trading expected to begin at market open on August 6, 2024
Common stock moves from UCBI to "UCB"; depositary shares move from UCBIO to "UCB PRI"
CEO Lynn Harton said the NYSE will provide greater visibility for the company and shareholders
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every United Community Banks filing is on SEC EDGAR ↗. 8-K briefs of other companies →