United Community Banks, Inc. (NASDAQ: UCBI) (“United”) was recently recognized as one of America’s best banks by Forbes magazine for the seventh consecutive year. “America’s Best Banks 2020,” an article written by Antoine Gara, ranked 100 of the largest publicly traded banks and thrifts nationwide. United Community Bank was included in the top 25 on this prestigious list.
“It’s an honor to be recognized by Forbes as one of America’s Best Banks for the seventh year in a row. To earn a spot in the top 25 is a testament to our United team,” said Lynn Harton, Chairman and Chief Executive Officer of United Community Banks, Inc. “Delivering strong financial performance, which this list is designed to recognize, helps ensure that we will have a bright future. I am proud to see our United bankers recognized for what they do each day to both deliver class-leading customer service and top quartile financial performance.”
For eleven years, Forbes has ranked the nation’s 100 largest publicly-traded banks on ten metrics including return on average tangible equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percent of total loans. The magazine also factored in nonperforming assets as a percent of assets, CET1 ratio, risk-based capital ratio and reserves as a percent of nonperforming assets. The final component, according to the magazine, is operating revenue growth.
Data for the ranking was provided by S&P Global Market Intelligence based on regulatory filings through September 30.