United Community Banks, Inc. announces date of third
GREENVILLE, SC, Oct 07, 2020 (GLOBE NEWSWIRE) – United Community Banks, Inc. (NASDAQ: UCBI) (United) announces that it will release its third quarter 2020 financial results on Tuesday, October 20, 2020 after the market closes . The company will also host a conference call at 11:00 a.m. ET on Wednesday, October 21, 2020 to discuss its financial results, highlights and outlook.
To access the call, dial (877) 380-5665 and use conference number 7466997. Participants are encouraged to dial 15 minutes before the call start time. The conference call will also be webcast and can be accessed by selecting “Events and Presentations” in the Investor Relations section of the Company’s website, www.ucbi.com.
Additionally, United is providing some updated information on loan payment deferrals due to the COVID-19 pandemic. The company is continuously monitoring the effects of COVID-19 on its loan portfolio to understand the associated risks and minimize potential losses. United Community Bank (the Bank) offers payment and financial assistance programs to borrowers affected by COVID-19. These programs include loan payment deferrals for up to 90 days and second deferrals as needed, waived late fees, and the stay of foreclosure and repossession proceedings. The Bank has received and accommodated numerous requests for relief from borrowers; however, loan payment deferrals continued to improve, from a high of $ 1.8 billion, or 15.9% of the total loan portfolio as of June 30, 2020, to $ 365 million, or 3.1% of the total loan portfolio as of September 30, 2020. The breakdown by the type of loan selected is as follows:
|Payment deferrals by loan type|
|$ in thousands|
|March 31, 2020||June 30, 20201(1)||September 30, 2020|
|$ Deferred||% of total loan portfolio||$ Deferred||% of total loan portfolio||$ Deferred||% of total loan portfolio|
|Elderly care||7 355||0.07||%||94 623||0.81||%||44,384||0.37||%|
|All other advertisements||63,356||0.62||%||1,190,758||10.23||%||169 167||1.43||%|
|Family of one to four||1,417||0.01||%||160,893||1.38||%||13 972||0.12||%|
|Other consumer||403||0.00||%||6 857||0.06||%||466||0.00||%|
About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI) (United) is a banking holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the largest full-service financial institutions in the Southeast, with total assets exceeding $ 17 billion and 163 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. United Community Bank, a wholly owned banking subsidiary of United, specializes in personalized community banking services for individuals, small businesses and businesses across its geographic footprint, now including Florida under the Seaside Bank brand and Trust. Services include a full range of personal and business banking products including mortgages, counseling, cash management and now wealth management. Respected national research companies consistently recognize United for exceptional customer service. In 2020, JD Power ranked United number one in customer satisfaction with retail banking in the Southeast, marking six of the last seven years United has won the coveted award. Forbes included United in its inaugural list of the best banks in the world in 2019 and again in 2020. Forbes also recognized United in its 2020 list of America’s top 100 banks for the seventh year in a row. United also received five Greenwich Excellence Awards in 2019 for excellence in small business banking and mid-market banking, including a national award for overall satisfaction in small business banking. Additional information about United is available at www.ucbi.com.
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(1) The loan deferrals from June 30, 2020 include the results of Seaside, although the acquisition was completed on July 1, 2020.