United Bancorporation of Alabama, the parent company of United Bank and United Bank Community Development, announced that as of June 30, it exceeded $1 billion in total assets for the first time.
Other second-quarter financial highlights reported by the bank:
- The $1 billion in assets was an increase of $127.5 million, or 14.3%, from June 30, 2020.
- Total loans grew $59.3 million to $571.6 million.
- The bank originated $94 million in PPP loans.
- PPP fees account for $1.2 million in year-to-date fee income.
- Deposits totaled $882.1 million on June 30, 2021, a $111.1 million, or 14.4% increase, from June 30, 2020.
- United declared a 12-cent per common share dividend that was paid on July 12 to shareholders of record as of June 30.
