United Bancorporation of Alabama, Inc. Announces First Quarter Results

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Apr 26, 2024, 08:30 ET

ATMORE, Ala., April 26, 2024 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc. announces its financial results for the period ended March 31, 2024. United reported unaudited consolidated net income of $6.2 million or earnings per share of $1.75 for the three months ended March 31, 2024, as compared to net income of $6.7 million or earnings per share of $1.87 for the same period last year.

QUARTERLY HIGHLIGHTS

Net interest margin of 4.54%
Cost of funds of 1.21%
Year-over-year loan growth of $62.3 million or 8.2%

About United Bancorporation of Alabama, Inc.

United Bancorporation of Alabama, Inc. is a $1.4 billion financial holding company and parent company of United Bank, Town-Country United Bank and UB Community Development, primarily serving Southwest Alabama and Northwest Florida. United is designated as a CDFI, committed to stimulating economic development in underserved communities. United and its three subsidiaries operate 22 locations across five counties. Town-Country United Bank serves Wilcox County and surrounding counties. UB Community Development focuses on economic and community development through New Markets Tax Credits, affordable housing and community facilities programs. For a complete quarterly report visit our investor relations site. Member FDIC.

SOURCE United Bancorporation