Why United Community Banks Stock Dropped 10.1% This Week
Fourth-quarter earnings fell short of analysts' expectations
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Fourth-quarter earnings fell short of analysts' expectations
UCBI's third quarter results saw above-average spread income growth and operating leverage, with modestly below-average loan growth and strong deposit cost performance.
United Community Banks has agreed to acquire Progress Financial (Progress) and its wholly-owned subsidiary Progress Bank & Trust.
United Community, which bought Reliant Bancorp in Tennessee earlier this year, would deepen its presence in several Southeastern markets and expand its wealth management business with its deal for Progress Financial.
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