1. United Bancorporation reports net income of $26.9 million for 2024. 2. Earnings per share decreased from $8.69 to $7.65 year over year. 3. Q4 net income fell to $6.9 million compared to $10.4 million last year. 4. Company operates 23 locations, focusing on underserved community development. 5. United is designated as a CDFI, aiding local economic development.
While earnings have decreased, the company remains stable. Prior earnings declines have not significantly affected stock price.
The financial performance directly informs investors but shows resilience despite declines.
Immediate impact from quarterly performance may affect stock temporarily. Long-term perspectives may adjust based on economic development achievements.
(OTCQX: UBAB) - United Bancorporation of Alabama, Inc. announces its financial results for the period ended December 31, 2024. United reported unaudited consolidated net income of $26.9 million or earnings per share of $7.65 for the twelve months ended December 31, 2024, as compared to net income of $31.5 million or earnings per share of $8.69 for the same period last year. For the three months ended December 31, 2024, unaudited consolidated net income was $6.9 million or earnings per share of $2.00 as compared to net income of $10.4 million or earnings per share of $2.95 for the same period last year.
United Bancorporation of Alabama, Inc. is a $1.4 billion financial holding company and parent company of United Bank and UB Community Development, primarily serving Southwest Alabama and Northwest Florida. United is designated as a CDFI, committed to stimulating economic development in underserved communities. United and its subsidiaries operate 23 locations across six counties. UB Community Development focuses on economic and community development through New Markets Tax Credits, affordable housing, and community facilities programs. For a complete quarterly report visit our investor relations tab at www.UnitedBank.com. Member FDIC.