UCBI - Earnings call transcript Q4 2017 | United Community Banks, Inc.

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Operator

Good morning and welcome to United Community Banks Fourth Quarter Earnings Call. Hosting the call today are Chairman and Chief Executive Officer, Jimmy Tallent; President and Chief Operating Officer, Lynn Harton; Chief Financial Officer, Jefferson Harralson; and Chief Credit Officer, Rob Edwards. United’s presentation today includes references to operating earnings, pre-tax, pre-credit earnings and other non-GAAP financial information.

For these non-GAAP financial measures, United has provided a reconciliation to the corresponding GAAP financial measure in the financial highlights section of the earnings release as well as at the end of the investor presentation. Both are included on the website at ucbi.com. will quarter’s on and SEC; the Form replay this fourth filed presentation and Company’s the the of night in last X-K call website of at earnings section investor release were a Investor ucbi.com. Copies Relations available of be with the may be Please statements that representatives by this during made aware of forward-looking call, be United. other considered of information and uncertainties as page four the Any in XXXX with risks well by its forward-looking website. described the included provided of as statements the Company SEC in light should on XX-K, Company’s be Form filings on its and And turn at the will Tallent. Jimmy to this I call time, over

Jimmy Tallent

fact thank very efficiency an exceptional XXXX earnings you and measurement; our joining year call. on morning nearly pleased fourth revenues operating fourth I’m our to every to margins quarter in has Good with from and been for results, income. net quarter

equity finished and as return result by to expect The we improvement year, to moved Our in versus year results. share and with return XX% on momentum versus Durbin. the We All strong continue when full X.XX% moved was to up achieved XXXX. on right an growth the tangible assets operating the per direction and XX.X%. profitability year for last excluding in operating common banker impact produced up measurements moved and $X.XX up of the this operating an earnings XXXX excelled XX% in this positive of

charge X reform which earn GAAP asset non-cash was the the approximately tax in the we of tax rate. re-measurement federal income posted through That following million share we X to back per or a tax our of quarter, loss to lower will of $XX.X the due quarters $X.XX $X.XX For passage deferred legislation.

tangible of an per tax common and other impact on merger X.XX% operating on and reform result and $X.XX operating of share charges, XX.X% XX.X%. efficiency and of we assets operating an of return reported and ratio operating equity Excluding of return non-operating the

is Our $X.XX from operating result year a compares and to ago. in up X% QX $X.XX

the impact from Excluding million, earnings the deposit year large were XX% over ago. by which reduced bank quarterly of Durbin insurance pre-tax approximately up $X.X a and our our results assessment,

by group This is the growth, expansion in interest loan highlighted continues also to in quartile mass pickup our along profitability. in of quarter margin with journey peer our top and be net

quarter, November Oaks the also Four on were on front. closed Trust Bank we strategic We During X. busy our transaction & the with

in Navitas and out Credit originated market Raleigh forward. January of assets Navitas our announced build teammates the key Navitas a in of acquisition loans about growth represents of our XXXX. us excited continuation as and commercial are end new for $XXX year Also in and space. going fourth product solid year. share view the We first had grow, leaving Raleigh had to at the well great very us from our terrific small business accretive commercial said, partnerships fit solutions is perform. being $X.XX positioned in earnings the actually within and The add works per it strategic an full in acquisition greater area we in The and quarter unit banking million natural million we to $XXX the ticket on Corporation. X, a the a a equipment as All year, compete,

the share ask fourth of to details Lynn I’ll Now, the quarter.

Lynn Harton

Thanks Jimmy.

our points On our million from you’ll in basis low-cost by loan been deposit and linked maturing XX that so strength average. we of about slide of are both yield our rates benefit to exhibits strategic through nine margin driver beta continuing and of to nine our in results quarter eight, notes. X%, industry driven margin. our improvement margin that the is the from quarter this was the the our build moves cycle We are continues higher franchise. see the far ongoing expansion. up expansion and in deposit year base points increase making quarter XXX, has proud the expanded this the support XX One of to results our basis The The ago. Slide and senior half

Our cost fourth XX in basis at of three about basis quarter the quarters XX points. industry cost points of the deposit is of

future on the Additionally, ability position our continuing we strength plan to liquidity and is strong leverage. provides growth that us to competitive a fund

quarter X.X the of X% from XX Turning to of loans slide in new up million an QX, quarter-to-quarter. X.X linked production our billion XXX million loan quarter. increase in XX, funding, was loans QX, with reached up in strong Total

impact Oaks, the XX core of of which from loan improvement million or runoff, good auto a annualized indirect our Four X% quarter. was million Excluding and is XX last the growth

continue strategically loan for business growth. We to the quality, position diversified

have at book increased loan the of cream Our investor have as sheet. introduced are of construction Conversely, versus end percentage C&I balance better of we business the mortgages commercial Residential quarter a as totaled pre-crisis. adjustable-rate moved on the pre-crisis. XX% XX% to XX% XX% loans products we versus holding have

good fee we million. growth XX, businesses had well with our X.X slide a quarter of to in quarter as Moving linked

three Murphy production SBA for and legislation. community record environment have despite ranking years. building and well tax in teams reform do our just done this continues of Rich XX challenging moved new up to we more million, truly some Mortgage nationally. top us leading job and Bradshaw, uncertainty on a set a at Our banking the entire the to interest XX also into the exceptional and level business to a Annemarie SBA rate

XX million volume purchase Our originations refinance million. were up XXX with slightly year-over-year and XX down up at million volume

we we quarter be holding company. and ratio control versus sold Horry efficiency up adjustable-rate Oaks credit their XX, ago accruals expenses last on moved are strength to quarter. in XX.X% of up On feel a million than our leverage characteristics. driven fees loans operating on favourable County, and $X.X The increase to professional of of and continuing by higher as good operating the relative continues just Four Total slightly slide sheet efficiency quarter, expenses balance move focus million and year about given down to but ratio Our more the to $X.X excluding a was and down. return a primarily the the operating this The impact were were expense loans were incentive QX.

either to non-performing assets basis flat strategic points, major quarters came XX, at or points announced recently. of our the performance about portfolio excited last basis basis ago. very we Turning consecutive pay Net down XX dividends quarter two I’m with slide rebalancing five the points with of essentially were results. the basis credit sixth better XX year and points the continues or from two and strong six in closed to charge-offs moves marking

ahead Oaks very Navitas team led promises of of and to hires built Four impressive North partnership. in Raleigh also be is expectations Lowe Carolina area Raleigh Jim Our performing our pipeline. a by already Rose great a and new in the have John

a Gary led years business liquidity, lending to looking help team also us to the strong the by those be to to fit Given cultural company experience averages right of United. Shivers, funding been high-growth businesses industry management build the team and United. to with some management we additional Navitas the in reach desire our core products, XX promises is veteran niche and add a commercial have of right with goals,

of Navitas SBA Navitas have and to business risk-adjusted returns, very customers. XXX the growth of our add opportunities, and deposit significant basis points and Initially run continuing growth rate ratio XX% In our are addition portfolio the Navitas. Navitas’s with of community complements both to our loan loan our funding will to nicely synergy will indirect banking just the our local to attractive offers strength growth will own needs. combination fund increases their off

and I the basis strategies was share the points continue accretive execute into and per X very expect and the to teams the year. our $X.XX We to Overall, believe to adds February year. to deal close performance new positive our XX in very about am ROA going well our deal first that X,

And any back over for turn closing you like to to it so Jimmy, that comments. with I’d

Jimmy Tallent

the as merger of our accretive of per loan banks immediately I a earnings-per-share improvement extension achieved outstanding XXXX. three In share move and which these significantly are large earnings credit the commercial to year. and the I financial and good All the continue absorbed with to fits as $X.XX risk. be in Navitas every of bank acquisitions many DFAST of the decrease assets. will lift we and core return of that Lynn. you Both few We the decline up moment just regulated any converted those XXXX. of quarter a team large systems. execution into in take really Durbin in a in impact in without financial or Thank on and third deposit continued to our strategies two our a became feel institution our one accretive cultural transactions that of accomplishments insurance banks just which to markets first offerings quality early bank Corporation a performance completed assessment we footprint. book about financial announced Credit management XXXX source expected product remain diversify nearly solid another measure. saw key strong full operate of natural we We our expand and and are in growth. Credit our are performance to with our of in they strong strategy is solid in provide Navitas our banking these will growth a We

our peer margin operating XX of our the efficiency our our was XX% operating positive improved achieved still of lower and Our ratio points, basis dividend up X% leverage XXX basis we approximately remains we at increased ratio end group. points, payout

look manage Our tremendous Clearly, today. demonstrating XXXX strong good filled us optimism our I improve as with to to United our value all as for the of forward of has base XXXX, was place drivers still to in base. and deposit core a year very are and core am deposit pricing XXXX deposit allowed I margin, the

providing liquid even pro loan of remains Our ratio deposit lots Navitas with loan growth. addition balance very sheet additional forma XX% with room a and to of for the of flexible

and us the loan economy and us and additional long strong Our on serving and we as momentum allow look products customers business equity. new both partners new of as relationship. earnings portfolio with give new from further as forward We Tax new an team tangible entered XXXX diversification return well I an common tailwind growth and expected our for with markets growth and assets investment as whom strategies. improvement to reform improving in executing would in positions prosperous to bankers competitive were geographies on products our high best their return merger with into a being and leads resulting

earnings there and clarity some and direction. reform While we with do not are usually parts moving to Navitas provide enough this provide want significant tax momentum guidance year that

and XX% expanding we For on equity. can believe expectations a our return tangible we assets common and return our XXXX, are goalpost on achieve XXX for

Lastly, out in of we Greenville, we organization. Day an are South Carolina to about be hosting attending. February the on Investor our the to where in introducing Please leaders will reach businesses XX and in many an if interest Jefferson you have talking investors

questions. Now we will glad be answer to

Operator

Rose question Michael begin. [Operator you comes Instructions] the from And from of Raymond James, line our first may

Michael Rose

Hey guys, how are you?

Jimmy Tallent

Mike. Hey

Michael Rose

a that is So good banking obviously the to with Navitas, commercial so to obviously deal solutions really group. going add

there moving guess to know banking have. aggregate to of it you businesses on is asset that to You forward relative the I community those you the in as to want that size some relates that a limit guys threshold we earlier think of about the as kind

Lynn Harton

the separately, No I really though Hey really it banking have is solution businesses. community this businesses commercial Lynn. Michael, are because not mean are these even local we

So now any Navitas, other C&I customers really and essentially exception everything it’s else business. of book local different no in is of SBA, so footprint, than the with and

Michael Rose

up we higher, forward? to the follow charge-offs we think it I deal, basis as Hi, about a is XX and that a to just think good about being points have still Navitas XX talked as to way move

Rob Edwards

Rob. is the about That’s thinking this we way it are going Michael Yes, forward.

Michael Rose

helpful. above maybe that’s And laying would one then you would and short, out cause one be those what cause Okay, is I to Jimmy broader me. the maybe from just targets, What you appreciate, maybe to pay in the investments been and helpful? would the it it activity, further elevated is any there which has it there and is industry, is be rate color off hikes, growth franchise loan targets. Thanks. in

Jimmy Tallent

that answered of kind you’ve and Michael, you question. Thank

that deposits giving we I than of we favorable think our able run the our balance the so moving think, and going sheet, and off feel hopefully XXXX. I would sure about more margin expectation finance to those forth, protect what to very do, but I opposite. that of into obviously securities think numbers really yes higher think recently comfortable. -- rights expecting we growth even will but you loan in the loan optionality expectation certainly We margin but to nobody the do mean today XX% optimistic be we week we being post-Navitas, that, will were we and of knows are and regards XXXX our just auto of our expand are ultimately what our for

Michael Rose

Okay, guys thanks for taking my questions.

Operator

next And our line from of Tyler Stephens. you. question Thank Stafford the of comes

You may begin.

Tyler Stafford

I morning everyone. will goals I just just is that just that the profitability kind wanted guys by be like full that start and good goal? a a want of of the said, is on run to or it of a rate end to year Hey clarify appreciate good the for XXXX guys. – you I to that looks kind goal year year you

Jimmy Tallent

we at numbers very we at very they for those are If doable. XXXX, Tyler, for also If looking confident. would year are believe we I we are of way. it the are answer looking QX this those entire

Tyler Stafford

Okay, in XXXX I very if to did guys missed release or the here? you’d earlier apologize the And that good. I [Indiscernible] guide this expect tax for you rate an

Rob Edwards

for as use XXXX. tax to a thanks in XX% the to question we Tyler, were XX% and expecting rate

Tyler Stafford

just the about loan growth. near And Obviously [Ph] is up tune the commentary Perfect. Navitas. growth the maybe the that’s run-off added on pressuring then term the in indirect from the

indirect you to of of seeing out high right it? to is way that, of gets you think are the I kind you that guys about off, digit kind that growth mean back prior as does single kind So Navitas look towards run the

Lynn Harton

I say would Yes, mid-to-half.

Navitas' dollar-for-dollar run off. in So, offsets direct almost

quarter to So, X% effectively And off were at X%, sense. the range. this X% it we loan that makes the underlying in takes kind table, rate growth of that like X% if somewhere to with just that X% last,

Tyler Stafford

in. And Okay, back I'll and then Thanks. well, may out hop hop very good. I

Operator

from from Thank our the next comes question SunTrust. Demba line you. Jennifer And of

may begin. You

Jennifer Demba

good you, Thank morning.

Jimmy Tallent

Good morning.

Jefferson Harralson

Good morning.

Jennifer Demba

over How secondly, for of talk your then percentage Navitas. a whether it on specially entire or Navitas you time. having comfortable be questions Two now just interest can you line? acquisition are lending bank your portfolio big a as Navitas And about post a

Lynn Harton

is this Jennifer, Lynn. So

a now. Navitas think probably for that's over we over us a a four business but from dollar time So, is time year billion period

comfortable turn in we bank the right So, manageable talk portfolio of that. we X%, very non-banks, let X% in And with Jimmy we somewhere right are of X%, on in that. loan of time; in now a think it's in the are piece the the over I'll think very But very terms about range focused integration I Navitas acquisitions. getting

And looking anything so, and be we would not that for area. in now

Jimmy Tallent

April. overall in new would conversion we've be a and for So, of from certainly certainly, merely like other take changed Jennifer, it things would integrated Navitas possibly banks not basis we products. an look matrix mainly make I where as sure our on same our market strategy, overlap delusion hasn’t a If There markets. that wanted And with is only got strategy. it can just same obviously but as book the on Today, with have certainly in the had failure to tangible get Four Lynn. standalone occurs, of accretive years. any But Navitas lesson closed well a expense we will the lot Oaks favorable significance properly. the the out maybe or And M&A we're the complements the acquisition very also agree the lending

So, actually really now has that changed.

Jennifer Demba

that I Was just rate hike full and ROA assumption? those ROTCE for include that, any clarification year And your a Okay. and were on the does goal.

Jefferson Harralson

there confident earlier, those good very, that believe we and quarter 'XX be those could is But posted it no that year. be we of numbers there as entire fourth to we in the what very the very probability posted There's I there. rate are said is could for it believe be does assumptions hike numbers a

Jennifer Demba

so thanks Okay, much.

Operator

our O'Neill. from of you. next Sandler Brad And Thank line comes from question Milsaps the

begin. may You

Brad Milsaps

guys. morning good Hi,

Jimmy Tallent

Brad. morning, Good

Jefferson Harralson

Brad. Good morning,

Brad Milsaps

of Navitas lot the on. Jefferson, quarter moving you've first got parts a in coming with

Oaks. see think looking for the as you quarter where expenses maybe for? the then first that the where conversion get you're saves curious running and Four of them of you level of the rest got of of kind Kind the out you year kind all You might in cost

Jefferson Harralson

get bit. to little a might parts I that in you

our you been that rate have We we think that rate if growth seeing. was about have quarter, the fourth above

As Lynn little had professional mentioned fees some getting where XXXX some in and projects that incentives some there. we and a therefore bit fronted

Then $XXX million core just comes. single-digit The you Navitas rate. you of think brings of I kind us about when of over overlaying X% a obviously there. are loans expense it expenses there. of were top low having about Navitas So, of loans on of Navitas a

the that the So, ought of you February first quarter in think of X% loan having into growing of expenses, year. close. expenses that throughout to balances about the loan the But think layer Navitas with

Brad Milsaps

No, a that's it? obviously that some into you talk a got helpful. we'll see Can very good month with about the nice and kind takes Navitas boost, of that same give going And obviously in 'XX, will the Oaks. the end momentum just, another year get To little NIM on kind you Four NIM. the of as vein, and puts of you've

Jefferson Harralson

Yes.

that perspective, margin So, you're running about good from that overlaying comes spot. is margin a Navitas' in But I X%. think then XXX a core

pay Now, we to down of their over immediately. get go $XXX fund refund and her borrowings million

X% And X.X% of their goes with so, margin their up out expense with there XX% of funding. debt more-or-less taking is our

should overtime fund all we the paying a interest Navitas over in time. we X% of as fund layer liabilities their that So, as grow kind for margin and growth

Brad Milsaps

that's Thank guys. you, helpful. Great,

Operator

question next Mealor KBW. the Catherine line our comes from from And of

You may begin.

Catherine Mealor

gave, clarification on you the margin Jefferson. a just want really Thanks. I that guidance

QX upside and what Navitas from as the the help through move So, basis you a kind year should we out of points funding. much grow coming you're about that then expect us higher how And margin? the that that think needed on from can to of in in you growing we over

Jefferson Harralson

Yes.

So, me of let more give components that. you some

loans and Navitas as and X.X% them funding there our about the funding securitizations. stated X.X% then lower the growth re-find more And towards we over should and X.X%, get of their is more time funding is the funding currently X.X%. So, yielding we through as move about the move even in

If points. you think of in it basis

impact be I the XXX. there, margin of think over once you a in would QX and will I XXX full be Navitas XXX Our over then in get think

Catherine Mealor

that so then the if Got begin expect would upsets this it, okay. margin you new even you included rate hasn’t hike, then see guidance further And your see to year? that

Jefferson Harralson

That's still with deposit peers we think data should sensitive. think correct. We our are flexibility. stay than We asset sheet balance lower do our

don’t we think model So, some but hikes. in that get have would that future do our from we rate we benefit

Catherine Mealor

still That's from I sitting a just about mean I your pro helped But capital. over great. when some capital to then, management, the feel under And at think smidge where for deal calculated. that you're we forma Navitas switching of really lever excess X%

And the ROTCE. towards moving a to about and do a year pace XX% going so, then at accreting think another you're faster you in how capital

we do capital about dividend? think Okay. terms how maybe M&A, So, both of management and from growth, here in

Jefferson Harralson

Catherine. thanks Yes,

had ours So, steepen a a capital been structure to it our bit. goal of

difference are closes, of CETX the million total between that's that's about then differential and points of a in now ratio sub cash we with ratio. about to before the basis Navitas XXX the you $XXX the putting going piece If capital be of into debt a points. transaction, CETX deal big $XX and think over QX total our the raising quarter. In the is basis million capital and between XXX And where a were Navitas

we X% bit is similar a know We going that yours, could I the that is we under think quickly. lower. to now relatively calculation my yes, think could, just run to TCE. little on on go So we very smidge a

and like be more ratios where to does see lower our lever it's but continue where Navitas capital we ability could you're optimal get we time, we from we we here. going and are of structure. an TCE like we to transaction now, and little towards what So, growing some capital these are us that We And over capital like the grow. a run to to going think for

we of at some to So, our payout. time. management types lower our in over mentioned of will things be Jimmy the dividend; are capital range we do looking

I over a think I So, decision it's board higher see not CFO you'll payout a think not it's a but target time. a decision

where future those even will it putting make into down. sense deals think TCE I that in continue cash manage level deals to some to is to

Catherine Mealor

for Thanks Great. the color.

Operator

question Marinac our And you. line Partners. Christopher next from of from the Thank FIG comes

begin. may You

Christopher Marinac

our guys. other wanted and next Lynn what to hires but of good envision XX Thanks, Raleigh the also both new kind in about and whomever of new for markets you I ask morning in terms or months? just what's XX

Lynn Harton

Raleigh, hire very actually well made new we in Beach. as Myrtle Yes, hire about Sure. new have in just as another another we're excited

all any we our continue to continue cetera. in have like So, just in LPOs based we et new areas or geographies of our builder finance businesses. middle recruit to market We lending, asset in look group, don’t targeted but

of kind 'XX same the year. expect would we we've that this made hiring progress So, in

Christopher Marinac

And Great. expanding. count year closing just curious this you adding footprint branch see terms terms branches the in of neutral, be of that you're in I'm of with and where in more kind or do

Lynn Harton

Yes.

a the quarter. Raleigh branches any new we first announced today we're about location for don’t our branches list in So, although are four on have team. actually looking We closing we for have construction better the

any we expansions. are So, at that a branch that really one with combined be branch not might looking new that we but beyond

Christopher Marinac

Thanks Lynn. for one whomever great, and I that, or just a Jimmy last Jefferson Okay for guess is.

the incremental at or because in it just mean become easier level a a you can price in more higher or ROA for it targets and do M&A leverage higher profitable higher it challenge does profits. Does deal of does make you're to targets, it more? that Now,

Jimmy Tallent

to that a opportunities to But just we not in going certainly one more be in probably approach. financial is continue be those and did bottom-line stronger time, are currency been be a that it There would even official which price. metric the from compelling. take make we're certainly the that standpoint. to to in and to profitability being lend may do Chris. And shareholder should itself larger be M&A the assuming continue markets, think of I stronger lead with deals to Well, is it But is very believe will, able to that stronger a occur, share in kind desire disciplined at we're more but a we we'll

Christopher Marinac

you, Great, for additional I it. Jimmy. color. appreciate Thank the

Operator

the And our NAB Nancy next comes Research. question of from line from Bush

You may begin.

Nancy Bush

you. and about a the It's Jimmy, closing Just and how financial. them question, branches markets were part sort of Journal. for in of and rural doing at damage philosophical around end economies. Street and There the were to you some these the cetera several sure et exiting saw markets region Wall the articles rural banks I'm it's rural year

on said presence. your at are you fast I growing that to wanted look as how get that. of and as you but you're well, you markets thoughts in urban know Just markets lot in a rural

Jimmy Tallent

MSA. today, at So, of Nancy, look if in footprint, an our our we XX% reside footprint

balance of So, have very those is extremely rural. in very the markets with be considered course is obviously dependable They deposits are profitable. have us, way for the core solid found funding would that very valuable. are and What we

where get of to kind markets be are they proud are. foundation help in. we they of they those have were us to we're So, to really the

core fund both the opportunities, and There's which will that beauty lending of of obviously in having you're the lending see But We lending us growth fabulous going some it’s deposits the that best opportunities and the to of markets. worlds. to the helps possibilities operations dependable profitable in markets. kind metro not are stable very there metro see

see as that's we a part, are. key we that how So,

Nancy Bush

long I rural future. you become buying again funding and will once way would discussed on is and possible rural acquire ask, Well, and I versus buying issue valuable that a poor have in you urban I may mean, that it of given this more markets? the

Jimmy Tallent

loan an million today deposit of that's took another XX%, loans. and that at of XX% even Well, we to $XXX

Nancy Bush

Right.

Jimmy Tallent

that over today you a our important. growth $XXX never never is we at think was the would XXXX generator And I do when million. asset even but certainly, say in core So, little look deposit

that's rural well and as both coming So, from as parties; metro.

Nancy Bush

Right.

Jimmy Tallent

one it's our business more markets today. metro and but would should maybe never focus hard this be say in certainly So, on never the

Nancy Bush

Alright, thank you.

Operator

Stephens. line next our Tyler comes from from And question of the Stafford

You may begin.

Tyler Stafford

Hi.

questions servicing Just on the fee and amount other much positive the of SBA a mortgage mortgage asset, quarter? fee couple in have follow-up dollar drove of then that the sales how was our just uptick the mark this Do the during sold the income. the you in on quarter on

Jefferson Harralson

Yes. Jefferson. This is

quarter, for the quarter rate in on So, in And it, mortgage mortgage the the piece $XXX,XXX had servicing in we the up a down. rate. fourth a we rate of third just reference had $XXX,XXX

And that was more in $X million quarter rate forward. that amount So, run of this sold net is $XX.X range million. SBA going the

Tyler Stafford

much this How for sold that mortgage quarter, you have handy?

Jefferson Harralson

I might have to number. get you that, I that don’t have

Tyler Stafford

Okay.

Jefferson Harralson

that you get can number. I

Tyler Stafford

that's Perfect, okay. it. Thanks guys,

Operator

Brad Sandler of last O'Neill. our from from comes the question Milsaps line And

You may begin.

Brad Milsaps

represent? expense just wanted what to said understand loans I to X% roughly in I follow-up you Did kind just of the guidance your Jefferson. the $XXX Hey, acquisition. million with would of related correctly, expenses

Jefferson Harralson

right, that's That's correct.

Brad Milsaps

coming are Okay, of likely missing pay I understood be I of and I there and in funding. XX we million so. off do the guess yield somewhere if this gross doesn't XX It quite annual loans bring accretion quite well a and I is XX I'm there's Because math, it. alright. expenses missing you But it's where maybe on just the you I are expenses, over million do I assumption the thought may get like is but can't from in with something guess. their else that when cash to seem your

Jefferson Harralson

walk and it piece out maybe of we of can it Let's, there. offline take we'd that

Brad Milsaps

Okay, helps. that Alright, thanks.

Operator

will now at Jimmy further back call Executive Officer, remarks. for this I time. to showing the questions I'm Chief And no to like closing Tallent turn

Jimmy Tallent

let you being call Thank of to Investor we all the do Jefferson with not great of really last Also a year. to with but reminder and on too, in United on to additional a like for I hesitate great know. today, again be here And or you, if Any a and Bank. the thank of day. interest us. will a great least, our February And on want time Community company. a out a your of And you to of all we hope that, questions, follow-up I firsthand this would the certainly please of for you certainly team a and great see Day operator. have once any behalf day think reach the quarter XXnd, management face-to-face attend, that us don’t And to thank United lot want to

Operator

This participating conclude all conference. in and you may have day. you program today's Ladies a disconnect. thank the and does for gentlemen, great Everyone

United Community Banks (UCB) 24 Jan 182017 Q4 Earnings call transcript