United Community Banks, Inc. reported a significant increase in financial performance for the second quarter of 2026, with net income reaching $115.6 million, compared to $78.7 million in the same period of 2025. This translates to diluted earnings per share of $0.95, up from $0.63 year-over-year. For the first half of 2026, net income totaled $200 million, a rise from $150 million in the prior year. The bank's total revenue for the second quarter was $279 million, an increase from $260 million in the previous year, driven by a rise in net interest revenue and noninterest income.
The bank's total assets increased to $29.1 billion as of June 30, 2026, up from $28.0 billion at the end of 2025. A notable change in the loan portfolio was the reclassification of $1.91 billion in equipment financing receivables to held for sale, following the decision to sell its subsidiary, Navitas. This strategic move is part of United's focus on core banking operations and is expected to enhance liquidity and capital strength. The allowance for credit losses (ACL) decreased to $168.7 million from $210.4 million, reflecting the release of the ACL related to the equipment financing loans.
Operationally, United Community Banks expanded its workforce, increasing full-time equivalent employees by 3% to 3,141. The bank also completed the acquisition of Peach State Bancshares, Inc. on August 1, 2026, which is anticipated to strengthen its presence in the Gainesville, Georgia market. The acquisition involved total assets of $786 million and is expected to provide additional growth opportunities.
In terms of market performance, the bank's net interest margin improved to 3.68% for the second quarter, up from 3.50% in the same quarter of 2025, primarily due to a decrease in deposit interest expenses. Noninterest income also saw an increase, driven by higher mortgage loan gains and unrealized gains on investments. The bank's capital ratios remained strong, with a common equity tier 1 (CET1) capital ratio of 13.53%, well above the regulatory minimum.
Looking ahead, United Community Banks aims to leverage the capital and liquidity from the Navitas sale for potential organic loan growth and strategic mergers and acquisitions. The bank's management remains optimistic about future performance, despite the challenges posed by market conditions and economic uncertainties.
About UNITED COMMUNITY BANKS INC
United Community Banks, Inc. is a regional bank holding company providing diversified financial services, including deposit products, loans, mortgage origination, wealth management, and insurance. Its primary subsidiary, United Community Bank, serves commercial, retail, and government clients across the southeastern U.S. with a focus on community banking, customer service, and long-term relationships, supported by a broad product suite and strategic acquisitions.
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