ATMORE, Ala., June 28, 2021 /PRNewswire/ — United Bancorporation of Alabama (OTCQX: UBAB), the parent company of United Bank and UB Community Development, was ranked 14th in the country in the recently published American Banker publication’s annual list of the top 200 publicly held banks with assets of less than $2 billion.
The survey reviewed more than 500 banks across the country to compile the top 200 list.
«2020 was a challenging year,» said United Bank CEO Robert R. Jones, III. «It delivered to us a pandemic, two hurricanes, and economic challenges. As consumers and small businesses in rural communities grappled with the onset of COVID-19, United Bank stepped up as an active leader within our community. We conquered those challenges while fulfilling our multi-bottom line mission.»
Ranking in the survey is based on the company’s three-year on average equity (ROAE), a calculation of the bank’s performance over a financial year. United Bancorporation’s three-year ROAE average was 17.21 percent, well above the 500-bank average ROAE of 8.60 percent. The top 200 community banks had median revenue growth of 12.3 percent in 2020, up from 7.3 percent a year earlier. Only one other bank in Alabama ranked in the top 100.
For more information related to the company, please visit the investor relations tab at www.UnitedBank.com
About United Bank
United Bank is a $1,000,000,000 financial institution that has enjoyed 117 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Daphne, Foley, Lillian, Loxley, Magnolia Springs, Silverhill, Semmes, 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.
About UB Community Development
UB Community Development’s strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD the Southeast premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Capital Magnet Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing, and more. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.
SVP, Chief Marketing & Public Relations Officer
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SOURCE United Bank