UNITED COMMUNITY BANKS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
UCB$37.42-0.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (unaudited)
UNITED COMMUNITY BANKS, INC.
Consolidated Statements of Cash Flows (Unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Operating activities: | ||
| Net income | $62,631 | $62,300 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, amortization and accretion, net | 10,880 | 12,126 |
| Provision for credit losses | 12,899 | 21,783 |
| Stock based compensation | 2,403 | 2,482 |
| Deferred income tax expense | 4,059 | 8,103 |
| Securities losses, net | — | 1,644 |
| Gains from sales of other loans | (1,537) | (1,916) |
| Changes in assets and liabilities: | ||
| Other assets | (12,359) | 10,303 |
| Accrued expenses and other liabilities | 14,965 | (22,029) |
| Loans held for sale | (5,132) | (4,703) |
| Net cash provided by operating activities | 88,809 | 90,093 |
| Investing activities: | ||
| Debt securities held-to-maturity: | ||
| Proceeds from maturities and calls | 27,051 | 31,550 |
| Debt securities available-for-sale: | ||
| Proceeds from sales | 647 | 380,661 |
| Proceeds from maturities and calls | 229,902 | 83,794 |
| Purchases | (302,962) | (25,862) |
| Net increase in loans | (67,629) | (345,316) |
| Payments for other investments | (4,353) | (74,323) |
| Proceeds from other investments | 380 | 93,687 |
| Proceeds from sales of premises and equipment | 16 | 2,169 |
| Purchases of premises and equipment | (13,710) | (22,602) |
| Net cash received in acquisition | — | 57,101 |
| Other investing inflows | 8,145 | 436 |
| Net cash (used in) provided by investing activities | (122,513) | 181,295 |
| Financing activities: | ||
| Net increase in deposits | 21,024 | 793,162 |
| Net decrease in short-term borrowings | — | (292,732) |
| Proceeds from FHLB advances | 100 | 1,580,000 |
| Repayment of FHLB advances | (100) | (2,195,000) |
| Cash dividends on common stock | (27,733) | (23,674) |
| Cash dividends on preferred stock | (1,573) | (1,719) |
| Other financing inflows | 1,211 | 1,058 |
| Other financing outflows | (1,167) | (1,655) |
| Net cash used in financing activities | (8,238) | (140,560) |
| Net change in cash and cash equivalents | (41,942) | 130,828 |
| Cash and cash equivalents, beginning of period | 1,003,875 | 646,853 |
| Cash and cash equivalents, end of period | $961,933 | $777,681 |
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