Business
Business

United Community Banks, Inc. says it is past the credit crisis

By Arielle Kass
July 25, 2013

Declaring that “the lingering effects of the credit crisis are behind us,” United Community Banks, Inc.’s president and CEO said the Blairsville banking company is in the final phase of its recovery.

“We can now devote full attention toward growing our business and increasing the value of our shareholders’ investments,” Jimmy Tallent said in a Thursday statement.

The company had $227 million in profits available to common shareholders in the second quarter, as it charged off loans more quickly. A year ago, it made $3.5 million in the same quarter.

The large increase was due to two factors: the reversal of the valuation allowance on a deferred tax asset, as well as higher provisions for both loan losses and foreclosed property expenses.

Nonperforming assets are down 75 percent, to $27.9 million.

About the Author

Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.

More Stories

Keep Reading

“Superman” was one of several Warner Bros. features filmed in Georgia. The director, James Gunn, has ambitions to shoot the second installment in the Peach State. (Jessica Miglio/Warner Bros. Pictures/TNS)

Credit: TNS

What you need to know about the Netflix bid to buy Warner Bros. Discovery

The blockbuster deal, totaling about $72 billion, will create a combined portfolio of many of Hollywood’s best known properties.

AI is reshaping fintech jobs. Georgia is building the talent to match.

Financial technology is the backbone of commerce and a pillar of Georgia’s economy, and it’s one that could be disrupted by artificial intelligence.

Why Big Tech sees Georgia farmland as ripe for data centers

As areas around Atlanta have moved to curtail data center development, tech giants are scouring rural areas to plant massive server farms.

The Latest

A new kind of hybrid, called e-Power, is coming to the U.S. from Nissan. Courtesy of Nissan

Credit: Courtesy of Nissan

OPINION

Nissan’s e-Power: An EV driving experience, fueled by gas

OPINION

December car sales are good but not magic

In the market for a luxury vehicle? You might reconsider Lincoln.

Featured

Former Fulton County election worker Ruby Freeman talks to her daughter, Wandrea ArShaye "Shaye" Moss, a former Georgia election worker, after she testified before the U.S. House Select Committee at its fourth hearing on its Jan. 6 investigation on Capitol Hill in Washington, D.C., on Tuesday, June 21, 2022. (Yuri Gripas/Abaca Press/TNS)

Credit: TNS

OPINION

The 2020 election interference case is gone, but it can’t be forgotten

The decision by a Georgia prosecutor not to pursue the massive Trump election interference case leaves some bad deeds unpunished.

Officials to install opioid reversal kits in Georgia’s public schools

The kits will contain Narcan, which can temporarily reverse the effects of an opioid overdose and restore breathing.

Odom-led comeback nets Conference USA championship for Kennesaw State

The Owls continue to be one of the most intriguing stories of the season, going from a two-win season to a conference title and beating the defending league champions.