BLAIRSVILLE, Ga. (AP) — BLAIRSVILLE, Ga. (AP) — United Community Banks Inc. (UCBI) on Tuesday reported first-quarter profit of $62.3 million.
The bank, based in Blairsville, Georgia, said it had earnings of 52 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 58 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The bank holding company posted revenue of $309.7 million in the period. Its revenue net of interest expense was $241.7 million, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $249.4 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UCBI at https://www.zacks.com/ap/UCBI
