United Bank exceeds $1 billion in assets

united bank
United Bank focuses on its community, including support of the Coastal Growers peanut processing plant now under construction in Atmore. Jeff Tesney for Business Alabama.

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.

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