OTC-BB:UBAB

United Bancorporation of Alabama, Inc. Announces First Quarter Results

Retrieved on: 
Friday, April 26, 2024

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.

United Bancorporation of Alabama, Inc. Announces Fourth Quarter Results

Retrieved on: 
Friday, January 26, 2024

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.

United Bank provides funding for the construction of The Lenox in Augusta, Georgia

Retrieved on: 
Wednesday, January 24, 2024
Magnet, OTCQX, United Bank, LEED, City

ATMORE, Ala., Jan. 24, 2024 /PRNewswire/ -- United Bank (OTCQX:UBAB) has provided $440,000 in soft financing as well as a $6 million construction bridge loan to Woda Cooper Companies, Inc. for the construction of The Lenox, a new multi-family affordable housing complex in Augusta, Georgia.

Key Points: 
  • ATMORE, Ala., Jan. 24, 2024 /PRNewswire/ -- United Bank (OTCQX:UBAB) has provided $440,000 in soft financing as well as a $6 million construction bridge loan to Woda Cooper Companies, Inc. for the construction of The Lenox, a new multi-family affordable housing complex in Augusta, Georgia.
  • The soft financing is funded through United Bank's 2023 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department.
  • Located in downtown Augusta with close proximity to amenities, The Lenox supports the City of Augusta's goals of downtown redevelopment.
  • On-site amenities will include a laundry facility, clubhouse and community center,  a rooftop terrace, fitness center, playground, a covered picnic pavilion, and a computer center.

United Bank provides funding for the construction of River Pointe Apartments In Childersburg, Alabama

Retrieved on: 
Thursday, January 4, 2024
Housing, United Bank, HVAC, Bath, Lighting

ATMORE, Ala., Jan. 4, 2024 /PRNewswire/ -- (OTCQX:UBAB) – United Bank has provided $4.6 million in construction financing to Hall Housing for the renovation of River Pointe Apartments, a 37-unit affordable housing facility for families in Childersburg, Alabama.

Key Points: 
  • ATMORE, Ala., Jan. 4, 2024 /PRNewswire/ -- (OTCQX:UBAB) – United Bank has provided $4.6 million in construction financing to Hall Housing for the renovation of River Pointe Apartments, a 37-unit affordable housing facility for families in Childersburg, Alabama.
  • The complex offers one- and two-bedroom apartment homes and will be extensively renovated including updated kitchens and baths, lighting, ceiling fans, and HVAC systems.
  • On-site amenities will include an upgraded clubhouse featuring a new computer center and community laundry, a new covered picnic pavilion with grills, an upgraded playground, and new outdoor fitness equipment available for residents' use.

United Bank provides funding for the construction of Arbours at Moore's Mill in Huntsville, Alabama

Retrieved on: 
Thursday, December 28, 2023
Magnet, United Bank

ATMORE, Ala., Dec. 28, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $250,000 in soft financing to Arbour Valley Development for the construction of Arbours at Moore's Mill, an 80-unit affordable housing complex for elderly residents 62 and older in Huntsville, Alabama.

Key Points: 
  • ATMORE, Ala., Dec. 28, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $250,000 in soft financing to Arbour Valley Development for the construction of Arbours at Moore's Mill, an 80-unit affordable housing complex for elderly residents 62 and older in Huntsville, Alabama.
  • The soft financing is funded through United Bank's 2020 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department.
  • On-site amenities include a clubhouse featuring a community laundry facility, indoor fitness center, Wi-Fi lounge and business center.
  • An outdoor barbeque and picnic area with landscaped courtyard will also be available for residents' use.

United Bank provides funding for the construction of The Vinings at Newport In Kingsland, Georgia

Retrieved on: 
Thursday, December 21, 2023
Housing, United Bank, School, Bank

ATMORE, Ala., Dec. 21, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $600,000 in soft financing to Vantage Development for the construction of The Vinings at Newport, a 96-unit affordable housing property for families in Kingsland, Georgia.

Key Points: 
  • ATMORE, Ala., Dec. 21, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $600,000 in soft financing to Vantage Development for the construction of The Vinings at Newport, a 96-unit affordable housing property for families in Kingsland, Georgia.
  • United Bank is also providing $5 million in construction financing to the project through its participation in US Bank's $20 million construction facility.
  • On-site amenities include a clubhouse featuring a community laundry facility and indoor fitness center.
  • An outdoor barbeque area and playground will also be available for residents' use.

United Bancorporation of Alabama announces semiannual dividend

Retrieved on: 
Wednesday, December 20, 2023
Community development, Economic development, Housing, United Bank, CDFI, OTCQX, Community development financial institution, FDIC

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.

United Bank provides funding for the construction of High Point Senior Apartments in Andalusia, Alabama

Retrieved on: 
Tuesday, December 19, 2023
Magnet, Workforce, United Bank, Southeastern United States, Gateway

ATMORE, Ala., Dec. 19, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $350,000 in soft financing to The Gateway Companies for the new construction of High Point Senior Apartments, a 56-unit senior affordable housing complex in Andalusia, Alabama.

Key Points: 
  • ATMORE, Ala., Dec. 19, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $350,000 in soft financing to The Gateway Companies for the new construction of High Point Senior Apartments, a 56-unit senior affordable housing complex in Andalusia, Alabama.
  • The soft financing is funded through United Bank's 2020 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department.
  • United Bank is also providing $3 million in construction financing to the project through its participation in Cadence Bank's $10.5 million construction facility.
  • The Gateway Companies develop, own and operate affordable, workforce, conventional and senior multi-family housing communities throughout the Southeastern United States.

United Bancorporation of Alabama, Inc. Announces Third Quarter Results

Retrieved on: 
Friday, October 27, 2023
United Bank, Inc., UB, United

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.

United Bank provides funding for the construction of Trinity Ridge Apartments in Phenix City, Alabama

Retrieved on: 
Friday, October 20, 2023
Magnet, Senior, United Bank, OTCQX, Hotel

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.