United Community Banks, Inc. (UCBI) Thursday reported slightly higher first-quarter profit reflecting lower operating expenses for the period. Earnings per share were in line with analyst estimates.
For the quarter, the firm posted net income attributable to shareholders of $8.71 million, marginally up from $8.49 million last year. On a per share basis, earnings for the period were $0.15,no flat with last year.
Six analysts on average, polled by Thomson Reuters, estimated earnings per share of $0.15 for the three months. Analyst estimates typically exclude one-time items.
Net interest revenue for the quarter was $54.29 million, down from $58.41 million last year. Total fee revenue for the quarter was $12.82 million, down from $15.37 million last year.
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