United Community Banks, the third-largest banking company based in Georgia, reported on Thursday net income dipped in second quarter as it set aside more money to cover bad loans.

Blairsville-based United said net income to common shareholders declined by 62 percent in second quarter to $3.5 million compared to second quarter 2011. Per share earnings were 6 cents vs. 16 cents for the year ago quarter.

United's provision for loan losses was $18 million, up nearly two-thirds from second quarter 2011. The bank also charged off $18.9 million in bad loans, up from $15.9 million a year ago.

United said nonperforming assets, including loans no longer earning interest or foreclosed, increased 23 percent over a year ago, but declined compared to first quarter 2012.

"We expect our overall credit trends to continue to improve during 2012, although not necessarily in a linear fashion," United President and CEO Jimmy Tallent said in a news release.

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