Associated tags: United Bank, UB, Bank, United, New Markets Tax Credit Program, FDIC, OTCQX, Summerdale, Pace, CDFI, Daphne, Community development financial institution, Economic development, Community development
Locations: ALABAMA, FLORIDA, UB
ATMORE, Ala., April 26, 2024 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc. announces its financial results for the period ended March 31, 2024.
Key Points:
- ATMORE, Ala., April 26, 2024 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc. announces its financial results for the period ended March 31, 2024.
- United reported unaudited consolidated net income of $6.2 million or earnings per share of $1.75 for the three months ended March 31, 2024, as compared to net income of $6.7 million or earnings per share of $1.87 for the same period last year.
ATMORE, Ala., Jan. 26, 2024 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc. announces its financial results for the period ended December 31, 2023.
Key Points:
- ATMORE, Ala., Jan. 26, 2024 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc. announces its financial results for the period ended December 31, 2023.
- United reported unaudited consolidated net income of $31.5 million or earnings per share of $8.69 for the twelve months ended December 31, 2023, as compared to net income of $18.6 million or earnings per share of $5.11 for the same period last year.
- For the three months ended December 31, 2023, unaudited net income was $10.4 million or earnings per share of $2.95, as compared to net income of $5.2 million or earnings per share of $1.43 for the same period last year.
Retrieved on:
Wednesday, December 20, 2023
ATMORE, Ala., Dec. 20, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development, has announced a semiannual dividend of $0.35 per share.
Key Points:
- ATMORE, Ala., Dec. 20, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development, has announced a semiannual dividend of $0.35 per share.
- The cash dividend will be payable on or near January 22, 2024 to stockholders of record as of December 31, 2023.
- United Bancorporation of Alabama, Inc. (OTCQX: UBAB) is a $1.4 billion financial holding company primarily serving Southwest Alabama and Northwest Florida.
- United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities.
ATMORE, Ala., Oct. 27, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank, and UB Community Development, announces its financial results for the period ended September 30, 2023.
Key Points:
- ATMORE, Ala., Oct. 27, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country United Bank, and UB Community Development, announces its financial results for the period ended September 30, 2023.
- United Bancorporation of Alabama, Inc. reported unaudited consolidated net income of $21.2 million.
- Quarterly net interest margin increased to 4.7%, up 1.0% from the same quarter last year.
- Cost of funds for the year and the quarter were 58 bps and 72 bps, respectively.
ATMORE, Ala., Oct. 20, 2023 /PRNewswire/ -- United Bank (OTCQX:UBAB) has provided $12.8 million in construction financing along with $660,000 in soft financing to The Bennett Group for the new construction of Trinity Ridge Apartments, a 56-unit multi-family affordable housing complex in Phenix City, Alabama.
Key Points:
- ATMORE, Ala., Oct. 20, 2023 /PRNewswire/ -- United Bank (OTCQX:UBAB) has provided $12.8 million in construction financing along with $660,000 in soft financing to The Bennett Group for the new construction of Trinity Ridge Apartments, a 56-unit multi-family affordable housing complex in Phenix City, Alabama.
- Funding for this loan was made possible, in part, due to the bank's $8 million 2020 Capital Magnet Fund award.
- "United Bank is pleased to provide funding to The Bennett Group for the construction of Trinity Ridge Apartments.
- The completed project will provide much needed affordable housing for Phenix City seniors," said Joe Raines, Senior Vice President of United Bank.
Retrieved on:
Wednesday, September 27, 2023
Small business,
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Treasury,
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United Bank (Atlanta metropolitan area),
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Bank ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD). The award is the result of United Bank's ongoing commitment to enhancing the economic vitality of low-income communities in Alabama and in Northwest Florida. Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.
Key Points:
- ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD).
- Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.
- United Bank has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury.
- The New Markets Tax Credit is a 39 percent federal tax credit, taken over seven years on investments made in those communities.
Retrieved on:
Friday, September 8, 2023
United Bank provided a $17 million source loan while the project received additional NMTC allocations from PB Community Impact Fund, LLC and Cadence Community Capital, LLC.
Key Points:
- United Bank provided a $17 million source loan while the project received additional NMTC allocations from PB Community Impact Fund, LLC and Cadence Community Capital, LLC.
- McNeely Plastic Products is a single source supplier to over 100 companies across a multitude of markets and industries.
- The project will expand the existing facility by 30,000 square feet and add an additional 57,000-square-foot warehouse and distribution facility.
- Originally founded in 1983 as a distributor of plastic packaging products, they invested in their own manufacturing facilities in 1996.
UB,
Housing,
Repurchase agreement,
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Urban Homesteading Assistance Board,
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Community development financial institution,
Economic development,
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United ATMORE, Ala., July 28, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank (UB), Town-Country United Bank (TCUB), and UB Community Development (UBCD), announces its financial results for the second quarter ending June 30, 2023.
Key Points:
- ATMORE, Ala., July 28, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank (UB), Town-Country United Bank (TCUB), and UB Community Development (UBCD), announces its financial results for the second quarter ending June 30, 2023.
- Earnings per share for the six months were $3.88 compared to $2.11 for the same period in 2022.
- United reported $7.3 million net income for the quarter ending June 30, 2023, compared to $4.9 million for Q2 2022.
- On July 25, 2023, the Board of Directors of United (the "Board") approved a stock repurchase program (the "Repurchase Program").
UB,
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Pace,
CDFI,
Community development financial institution,
Economic development,
OTCQX,
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Daphne ATMORE, Ala., July 14, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development has announced a semiannual dividend of $0.25 per share, declared on May 16, 2023.
Key Points:
- ATMORE, Ala., July 14, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development has announced a semiannual dividend of $0.25 per share, declared on May 16, 2023.
- United Bancorporation of Alabama, Inc. (OTCQX: UBAB) is a $1.4 billion financial holding company that primarily serves Southwest Alabama as well as Northwest Florida.
- United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities.
- United operates three subsidiaries: United Bank, Town-Country United Bank and UB Community Development.
Learning,
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University Charter School,
Life,
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UCS,
United Bank,
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Engineering Dr. JJ Wedgworth, Head of School of University Charter School, stated, "UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County.
Key Points:
- Dr. JJ Wedgworth, Head of School of University Charter School, stated, "UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County.
- We are extremely grateful to have a beautiful new state-of-the-art facility to house our students and support the greater needs of the Sumter County community.
- With the allocation of tax credits from UB Community Development, LLC, it allows us to expand, offer new programs and customize our space to create learning environments that best match student needs."
- University Charter School was established in 2018 and is located on the campus of the University of West Alabama.
