United Bancorporation of Alabama, Inc. Announces Third Quarter Results

News provided by

Oct 28, 2021, 07:00 ET

ATMORE, Ala., Oct. 28, 2021 /PRNewswire/ -- (OTCQX: UBAB) - United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country National Bank and UB Community Development, announces financial results for the period ended September 30, 2021. United reported unaudited consolidated net income of $15.2 million and EPS of $4.07 per share for the nine months ended September 30, 2021 as compared to $10.6 million and $2.86 per share for September 30, 2020.

THIRD QUARTER FINANCIAL HIGHLIGHTS

Completed acquisition of Town-Country National Bank
Net Income of $3.3 million and EPS of $0.89
United reported total assets of $1.15 billion at September 30, 2021 as compared to $903.2 million at September 30, 2020, an increase of $247.4 million or 27.4%
Non-interest income was $4.5 million as compared to $2.7 million for the third quarter 2020
At September 30, 2021 tier one capital ratio and tier one leverage ratio were 15.39% and 9.71%

For a complete third quarter report and financial metrics visit our investor relations tab at www.UnitedBank.com.

About United Bank
United Bank is a $1 billion financial institution that has enjoyed 117 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, East Brewton, Brewton, Daphne, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Semmes, Silverhill, Spanish Fort, and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton, and Pace. For more information about United Bank, please visit our website at www.unitedbank.com. Member FDIC.