United Bancorporation of Alabama, Inc. Announces Fourth Quarter Results

ATMORE, Alabama, Jan. 31, 2022 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank, Town-Country National Bank and UB Community Development, announces financial results for the period ended December 31, 2021. United reported unaudited consolidated net income of $18.5 million and EPS of $4.87 per share for the twelve months ended December 31, 2021 as compared to $12.1 million and $3.22 per share for the same period in 2020.  

FOURTH QUARTER FINANCIAL HIGHLIGHTS

• Net Income of $3.2 million and EPS of $0.87
• United reported total assets of $1.11 billion at December 31, 2021 as compared to $988.7 million at December 31, 2020, an increase of 12.8%
• Non-interest income was $3.9 million as compared to $2.3 million for the fourth quarter 2020
• Dividend of $0.16 per share was declared                                                                                            

For a complete fourth quarter report and financial metrics visit our investor relations tab at www.UnitedBank.com. 

About United Bank

United Bank is a $1 billion financial institution that has enjoyed 117 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, East Brewton, Brewton, Daphne, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Semmes, Silverhill, Spanish Fort, and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton, and Pace. For more information about United Bank, please visit our website at www.unitedbank.com. Member FDIC.

Contact: 
Leigh Anne Russell Jones
EVP, Chief Financial Officer
(251) 446-6165
Leighanne.jones@unitedbank.com 

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SOURCE United Bancorporation