Q1 2026 United Community Banks Inc Earnings Call Transcript
Key Points
- United Community Banks Inc (UCB) reported a strong start to 2026 with net income of over $84 million and an EPS of $0.69, marking a 19% increase from the first quarter of 2025.
- The company achieved annualized loan growth of 4.5% for the quarter and expanded its net interest margin by 3 basis points.
- UCB maintained high credit quality with total charge-offs of 22 basis points and non-performing assets as a percentage of loans at 50 basis points, down from the previous year.
- The company continued to return capital to shareholders through a $0.25 quarterly dividend and repurchased $37 million of common stock.
- UCB was recognized by J.D. Power as the top-ranked bank for retail client satisfaction in the Southeast for the 12th time, highlighting strong customer service.
- Spread income was down in Q1 due to having two fewer days in the quarter, although it was up 10% year-over-year.
- The company experienced a decrease in non-interest income due to seasonally lower service charges and a decision to sell fewer Navitas loans.
- GAAP expenses were $157.3 million, with operating expenses at $151.6 million, showing relatively flat growth compared to the fourth quarter.
- The company had to fully accrue for an FDIC special assessment following the Silicon Valley failures, although this was later partially reversed.
- There was a slight uptick in non-performing assets this quarter, although it was attributed to standard fluctuations rather than specific credit issues.
Good morning, and welcome to United Community Bank's first-quarter 2026 earnings call. Hosting the call today are Chairman and Chief Executive Officer, Lynn Harton; Chief Financial Officer, Jefferson Harralson; President and Chief Banking Officer, Rich Bradshaw; and Chief Risk Officer, Rob Edwards. United's presentation today includes references to operating earnings; pretax, pre-credit earnings; and other non-GAAP financial information. For these non-GAAP financial measures, United has provided a reconciliation to the corresponding GAAP financial measure in the Financial Highlights section of the earnings release as well as at the end of the investor presentation. Both are included on the website at ucbi.com.
Copies of the first quarter's earnings release and investor presentation were filed this morning on Form 8-K with the SEC, and a replay of this call will be available in the Investor Relations section of the company's website at ucbi.com. Please be aware that during this call, forward-looking statements may be made by representatives of United. Any forward-looking statements should be
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