Shares of United Community Banks Inc.
fell 6.1% after hours on Tuesday after the bank reported second-quarter results that missed expectations, as competition to attract new customers drove up costs. The bank, which has offices in the southeastern U.S., reported net income of $63.3 million, or 53 cents a share, compared with $66.8 million, or 61 cents, in the same quarter last year. Revenue increased to $213.9 million, compared with $206.8 million in the prior-year quarter.
fell 6.1% after hours on Tuesday after the bank reported second-quarter results that missed expectations, as competition to attract new customers drove up costs. The bank, which has offices in the southeastern U.S., reported net income of $63.3 million, or 53 cents a share, compared with $66.8 million, or 61 cents, in the same quarter last year. Revenue increased to $213.9 million, compared with $206.8 million in the prior-year quarter.