By james art 
ATMORE, Ala., Oct. 25, 2024 /PRNewswire/ — (OTCQX: UBAB )- United Bancorporation of Alabama, Inc. announces its financial results for the period ended September 30, 2024. United reported unaudited consolidated net income of $20.0 million, or earnings per share of $5.63, for the nine months ended September 30, 2024, compared to a net revenue of $21.2 million or earnings per share of $5.88 for the same period last year. For the three months ended September 30, 2024, unaudited consolidated net income was $5.6 million, or earnings per share of $1.57, compared to net income of $7.1 million, or earnings per share of 1.99 dollars for the same period last year.
QUARTERLY HIGHLIGHTS
- Merges Town Country United Bank into United Bank
- Awarded over $10.3 million through three CDFI programs
- Awarded $65 million by NMTC
- Net interest margin of 4.52%
About United Bancorporation of Alabama, Inc.
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 driving economic development in underserved communities. United and its subsidiaries operate 23 locations in six counties. UB Community Development focuses on economic and community development through tax credits for new markets, affordable housing and community facilities programs. For a complete quarterly report, visit our Investor Relations section at www.UnitedBank.com. Member FDIC.
SOURCE United Bancorporation
