UCBI - Earnings call transcript Q1 2021 | United Community Banks, Inc.

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Operator

Good morning, and welcome to United Community Banks’ First Quarter 2021 Earnings Call. Hosting the call today are Chairman and Chief Executive Officer, Lynn Harton; Chief Financial Officer; Jefferson Harralson; President and Chief Banking Officer, Richard Bradshaw; and Chief Risk 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 ucbi.com. will quarter's on and SEC the Form replay this first 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. well considered and as and uncertainties Form pages five six Any the the its risks XX-K, information company forward-looking on described filings SEC other of website. as statements provided by with in light should and XXXX of be its company's in on included the At this Harton. time, Lynn turn I'll over to call the Good today. Harton joining and for all our Lynn call thank morning you

our and conditions to for teams. also continue Our our results release our forecasts Economic of quarter first reflect and the and improve, results a losses. provision strength from $XX include credit million markets both our

in now first income loans reached We $XX fee items, our share. as also $X.XX our of PPP XX,XXX EPS per have million we round Including over these additional an forgiven. realized PPP had

return assets equity XX.X%. our return X.XX%, and on common was tangible Our return And on tangible equity was common on our

both by lower than due the service ongoing and our pipelines very our Our of for million performance encouraged PPP and Deposits continue quarters activity. to with was to X% but round. continues quarter be $XXX the previous loan of funding PPP, over stimulus in rapidly be to recent two culture to production continue grow most we growth the strong funding. Outside and loan annualized,

and annualized outperform only million in source now basis the basis Credit $XXX a of XX quarter deposits points at closings strength. points. an to and quarter. locks for with deposits and on Mortgage basis dropped Our increased of core set both transaction the XX% X by remains record in our stand continues cost or

have points customers XX basis we of assets had of X how recoveries our XX point to and owners. and and proud from environment Overall, great of both our to to I deliver results quarter, for great points continue total our declined the basis be non-performing adjusted teams This to they service loans. net basis how

For to here and it team start with to over I'm the going turn more quarter, the details I'll on Rob.

Robert Edwards

I my on Lynn. start you, comments X. Thank will page

with Overall We quarter are growth the $XXX first increased PPP with in new by pleased of forgiveness the round $XXX round down of million loan loans our PPP in quarter. and million three were second loans netted significant loans. that by

in primary X% million growth, the and annualized loan Excluding mortgage categories. quarter. loans estate into the growth quarter in PPP $XX we which translates were activity, real growth loan The had drivers of for

areas. direction loans. highlight manage Some in X, of which of the seeing key in total we X% quarter the granularity shared how credit national by believe top a our also page of this we is In a the And on general feel about of quality the of on was book muted growth X, stress decreasing for page On we strategic relationships various loan our our XX bullets credits. encouraged comprise and are levels we concentration. demonstration in we only

at again charge low nonperforming with in The point number recoveries for as is points relatively benefit the quarter first the a which XXXX. declining quarter. also trend of and were the unit just was has release Navitas $XX.X balances. basis the million recoveries loan due had we that negative net forecast reported were to in basis one our this essentially loss which offs optimistic primarily came since provision more of economic third had strong net with best We XX charge Our of of consistent offs the net recoveries the flat quarter quarter.

$XX about net in had XXXX You for million offs. million which charge $XX loss recall above year that provisions was loan we of about the may

Mention. reserve of X at to our and quarter loan about of highlight our XX% and million slide, from On direct Special accruing X. are substandard Grade $XX the build. you are which special deferrals upper So loans. the our page corner mentioned left, the increase downgrades left stand were X there's drive Grade We portfolio improve and substandard our did our credit. in million. primarily now care additional releases mentioned lower continue for we us first XXXX In In see detail the senior loans $XX loans on is Special in

equity significant the or of Mention Hotel improvement appendix. if the exist the seeing guarantor the characteristics value, remind in the support do Senior both to in Senior our not and plan leasing their books collateral the have equity, they according may up I will both Care in and on put you provide but are loans leasing not greater portfolio, do regardless cash-flowing project. are We Care contribution, detail portfolios some we occupancy that of and actually Special that into or we

developing in encouraged NPA as two Our XX shows borrowers non-accruing total and our to at successfully the as has of reserve. as points economic XX details of of where basis larger change direction in liquidated the All said, relationships. million by are improved and real stand reserve we loans $X.X our estate on our markets. is portfolio and the to our trends the Page

As the reserve I $XX.X forward mentioned, we quarter, our in million forecast. the change mainly in to released due the first into

to believe our PPP environment X.XX% Jefferson. that, we reserve we With conservative as given is loans, Excluding pass see it. credit which the percentage is I'll it

Jefferson Harralson

on to going Thank capital. talk comments my and you, I'm Rob. page about start XX

significantly and million in peer ratios in of in another able $XX bank troughs paying redeem of quarter over level million sub-debt QX, third We flat QX down debt on are million were quarter. to expenses, in remain were $XX.X and we senior $XX relatively and planning the levels. sub-debt capital Our and in currently the

via consider our us million $XX And work capital authorization put repurchase year. We share if to that sometime you expect happen, some not M&A. are using optimistic to this does we should can

to PPP million $X.X to loans in round quarter, QX other be first forgiven PPP X.X% basis to in asset see said, remaining annualized by one our and round the had fees net income first and Moving in points We would of that million and expected our earning second the and fees ended That of that, with two, fees. net the lion's was X QX likely. you XX, page from driven on core the PPP contraction with $X net income of of share and average interest most margin. $XX Spread up moving can interest interest net margin. growth generate we million

Page $X.X on QX, less points. the majority mix hurt the by larger able in sheet the we spread QX. core Adjusting the in and drove count details grow strong accretion had income sheet towards quarter. shows million margin securities pressure. The margin mentioned of balance for versus loan were also the of a to balance fewer change I the We larger and deposit the which two core basis XX the day days, XX with growth

was pleased down growth basis or our Ex-Seaside, XX% on transaction progress XX% annualized. deposit or XX% XX points last deposits grown moving were that $X.X $XXX transaction of have cost up from were year-over-year. million billion XX deposits Specifically, core also we We deposits quarter. And made to by core we basis up continued annualized. points

$X.X the main of positive mortgage. curve associated million are a a higher, the gain had increase quarter closer quarter QX change well. where margins. last was $XX.X strong area. had sale On page page start very and And expected business we in million driver quarter in minus about to million. write up the income. expecting them seeing to fees our there ahead long on towards And noninterest XX. the Moving down with we lower a we well strong mixed versus expectations That activity. the We this strong said, of had expenses. We in. above as or purchase moving continued at has Purchase The volumes plus XX, is volumes, talk end That MSR to $XX are range come we is

quarter-and-beyond expenses, than in April the costs, in driver on significant was parts. related occurred merger about forecasts my thinking expenses Merit call. as from expect run lot higher in expenses above the Excluding at prior mortgage our is moving and from conversion increases February there This $XX.X our main that into commissions stronger came million X% after and are of contracts off. savings is We cost later mortgage QX. translated seaside QX When QX expenses million. much our being and expected more conversion starting which other which technology good X the completed adds but March about $X a and of down volume to second realized in in

savings cost to incremental altogether, increases expect QX. the Taken in the I offset merit

but with doing a that We pipeline particularly out are commissions be in hiring a on through. Florida comes starting Mortgage a is bonus. some roaring bit, still we should paying that are also sometimes down

the all QX be slightly. rate Taking up operating expenses of flat next costs quarter. together, or our be anticipate will to So I of perhaps it run down more variable relatively

for mortgage, had as million year. pushed expect there in it loan strong accretion Moving recognize, increase to outstanding put on quarter of have through we ahead to fees which $XX expectations, $XXX this to growth, to and with pass and on of we which back that we come set strong revenue coming even the page around Lynn to XX, fees I'll on less the of production, a in QX. expect quarter. million all, some we our In in very this whole, QX comments. mostly PPP books currently we loan three left and PPP PPP finish closing All deposit

Lynn Harton

Jefferson. you, Thank

high off an year. about we grow, We company. thanks team optimism to level front the got of are the to great improve We've opportunities have have a proud and to strong quarter a in with and of XXXX of the remainder throughout us outstanding kicked

consecutive of them, one United quarter, on make to this it now America possible XXXX throughout recognized proud am very Forbes shout-out list of earlier I our open I'd As And teams the eighth for to last the like Best year-after-year. XXX for the up Banks questions. in this that year. company its

Operator

speakers. Participants, of session. Securities. now is question-and-answer the [Operator Jennifer line Demba we question Truist of our will begin Speakers, you, from Thank Instructions] first

is now line Your open.

Jennifer Demba

Sorry.

just kind Question on Hi, about some give shared that. of Sorry that of the us Can to detail your exposure. rationale? you and Rob national good credit reducing morning. some

Robert Edwards

Rob. Jennifer. shared is XX than nationally-oriented This were Seaside acquisition, We that locally-oriented. national more really Hey, credits the identified probably different in Yes.

that to Something had Seaside involvement our really done prior in XXXX.

And were those over credits time. exiting we so,

Richard Bradshaw

Rich Some, in to join in. want add there, may I just

about So that credits. would $XX equate and shrinkage million shared of to national

Robert Edwards

quarter. this Oh,

Jennifer Demba

quarter. This

Robert Edwards

true my we In mind that volume the Yeah. understates quarter. this showed

Richard Bradshaw

annualized at X% share add were probably growth more if a credits. We the you national rate Yeah. back

Jennifer Demba

much how And about to would you like more exit.

Robert Edwards

evaluation. But likely that ongoing an million. $XX through another I would going say, we're So it's there's

Jennifer Demba

on what you right sounds Okay. us interest. you're for interests question a acquisition going discussion for now. And merger lot the kind remind Lynn what kind on of for Can or of It industry like target and of looking also? you're looking not in there's

Lynn Harton

Yeah. Sure.

are a of what's conversations going lot really exciting are that So, there on.

focused be to continue the We smaller really on banks.

limits we focused price. don't smaller the couple employee cultural set typically mirrors of things little $X reason $X.X upside definition or and lower probably have; think side that and product the because that larger found is we a like really they And only billion, on we bring service, really there's has a the can focused Now, on they're ours; less. side, engagement a those they're gotten billion more I for that

So, that our continues to be focus.

be five there. optimistic able states that continue And in we'll focused have pretty the to today. we're be success to we're some that We in

would presented wouldn't So, we're we actively to we for looking the those not one. transformational one I'd of situation. Not the I to say consider be be have it certain actively But of we seeking things needs that of if I'd there's kind probably say say markets. say again itself. – interested that our the wouldn't any outside criteria. would kind large right aren't Not right

changes have together. to that overlap to the power companies you put to to two need You make significant through pretty need

because that's have leadership culture. You only clarity have way you real need the to of clarity of

enter, be in And find where where on join with. we attractive ones our can are already to to either markets these in to up we states bankers continues or our that like-minded want focus so, markets we

Operator

of of from question Brad Next Sandler. the Milsaps Piper line is

now is sir. line Your open,

Brad Milsaps

sort Navitas relatively of maybe it to losing just it that $X offset quarter. like you decision they $X in maybe talk start next leverage Jefferson might stay as the Maybe other making any or million revenue or will is you be million relates and some selling mortgage SBA you'll to production Can sounds around headwind? have Expenses additional flat. maybe about of

Robert Edwards

some QX We question. Great down specific Thanks. will then come Yep. expenses in mortgage more see down to it the and QX. you'll do in with come think

So are variable there expenses.

You'll just full that QX. impact of in see the

year our keep or asset balance on holding We SBA have great sheet. a a to a our We've back on so the sheet. It's those balance been for gains pipeline. been from keeping

you in first So Keep increase. mind will that also see SBA our start seasonally quarter to is quarter. weakest the

that rate the had had we outstanding price there. same looking there. have So would SBA also very I activity. is for originations. look are This of we expect way. the for to second half quarter. growth Navitas, Generally, at We've the is some in the credit. we happy with right year. where sales are a in good their see slowest We're Navitas

with loans really of total have get they loans Navitas these the X% half environment Navitas really under of a sheet We of to in loans look the nice for and but us are lot balance do or just at the loans to It's nice during premiums selling year an Navitas begin cash. X% to on second

Lynn Harton

You though look we time at are looking mortgage have even said, production, like might have, you they that at we every outperformed. we mortgage production add

what question so quarter. next number about be might some that actually And there's

Robert Edwards

– A crystal we've our our beating estimates up consistently. we've we've been been ball – estimates, and very with come

margins I we of we have seeing seen balance seen think Paper, for – the demand that. in. there's on a so cash that’s have sheets, And are you with bank lot come some

market But to – in are expectations that. piece mixed have been this seen which we the been change their We a towards the to where purchase. they've you’ve with seeing have too MBA increasing a they add

Lynn Harton

One is other continue variable we of hire. that to

and in some starting to So just MLOs tell there. there ongoing is well. that we I other And just Florida, get as with MLOs down discussions hired you three we're will traction

as outperform Lynn said, the forecast. – industry to continues So and market

Brad Milsaps

around to And and appreciate some great. of just geography. size That's color then discussion, follow I up on the to just the M&A of kind

Just is curious, can to deals that such market out kind high-single you you standpoint? – these your there the impactful are be EPS it's singles some an is think from such EPS is you deals can digit accretion pricing the do where of really of at. drive looking or some and curious. accretion opportunity type push some type gauge EPS excess Are How kind type earnings of higher. more of what Just where kind – of kind single of low-single potential digit lever Wanted accretion? of capital is – digit kind to is

Robert Edwards

Yeah.

So, of to I mean, say be similar in I would impact. our recent and deals size they’d terms

I think the pricing is attractive.

You a others. differential there's in pricing big versus our know

look you're look like you sense. put have that terms going think But of could a together, that a doubles when to then be you makes one I of don't two And, you they'll might I know, if homerun double them trade you look two you kind have if in to that good. So, singles think, pay ratios, like you know, have at, homerun.

Brad Milsaps

helpful. in That's I’ll queue. hop back you. Thank No.

Operator

Michael line James. Raymond is line open. Rose from your is Next of the Sir, now of question

Michael Rose

morning. Thanks for Good question. Hey. my taking

through I opening Jefferson, changes any the kind fees of maybe kind walk the for if kind just expectation know, just and how and kind year, core sort NIM separately for Thanks. of walk but through purchase can accretion? of, you we this quarter. about your Sorry what's can think from you accounting if last this PPP should of the missed of remarks, in you then expectations

Robert Edwards

pieces. start other I'll margin, two I’ll and the with hit Thanks. Yeah. the

the here portfolio. growth really seeing ending numbers getting earning average at So, XX% behind deposit strong we've increasing XX% asset quarters put that’s average two we're to We're this as earning it, been securities core margin, been To ago. some up to we're been assets our is has in securities what securities ratio at now.

strong really an On million average deposit this we're have over quarter. this another quarter up $XXX average quarter. We on growth deposit basis,

then should said, you’ve I into seeing to seeing. to get even out, I mix think is And been start is increase. in be so what you change change quarter should be starting to the mix year, going of That into you’re and going margin core it think some later next this as flat that so start

accretion, On We accrete have $XX I we to think left $X the quarter. purchase here, through. did accounting, the million this we what million loan have

our have $X think range. I you Then that that million prepayments. basis in as you get increase

I So, kind I'm lion's quarter, remaining through. good of round $X is In year, and round $X have PPP I'm a fees, to that run the remaining to the which the left in in the expect expecting through. $XX second the of half is share three million million And piece the would one to to second come from what hitting $X million million two, start expecting. second from of million $XX there round half. On fees of we

get it year. that is $XXX,XXX will but on forgiveness. an and into one-page piece XXXX do a float loans PPP, I wave, the I which $XXX,XXX important of think million Yeah. a the is second change XXXX, you have There think in which signoff full good $XX this now under really

So, period, going see you're saw our move after eight-week to last that's XX% much the And than year. that faster loans. of we

Richard Bradshaw

movement start on Yeah. a And million finally the you over. $X see to little

have one it. on approved and working We had they're

yes. So,

seen Yes. So, we one. have

Michael Rose

to impact a color. some great put math, just that. to I point in like the planned the just things what’s estimated from there you’re of that just actions. terms quarter to impact and redemption Maybe of That's had estimated take in the finer the going of on just isolation run there this capital the

Richard Bradshaw

Yeah.

thinking of impact So you you’re full little you get the – full get both quarter impact I’m get – of that once the once debt. on top more. QX and a end impact the of you looking actions a quarter on they’re for Then at that of the another X sub full those about of full basis $XX million piece is points, QX. The once

Michael Rose

Got would some that the did guys it. fairly active folks and you talk hiring is did for down kind opportunistic. the from guys what see that you an and Thanks. Seaside have been year, of hire efforts? you broader And about standpoint. on LinkedIn mean page, mean the And i.e., just I what – what – what's plans in Can could this expense announcement. at know I expenses in that

Richard Bradshaw

than it's more say Rich. Sure. I'd the opportunities the And this is plans. And really

tell We Florida. in I the us and the you a but economy benefit in there. we metro a reminds continue talking have on BMO March. to largest markets of to Gideon of world, lift we down a yet, have so not was that focus it's seen And XXth on the lot out I yesterday Harris the leader lot will good did that. kind

I which And where I good so have we're other is down you feel will of that some And tell three to yet. going. They started haven't very accepted. that talking people teams there about

the And take that. very about plan full both the feel advantage to going we about talent and we what's on in optimistic of So the Florida. customers opportunity,

Michael Rose

for Great. taking Thanks questions. my

Operator

the question [Operator of from your Ma’am, line Mealor open. of KBW. line Instructions] Catherine is Next now is

Catherine Mealor

Oh great.

Good morning. Okay.

So, it’s to I ask, on a ACR. question wanted the just

decline do of so, the big think the quarter. for further in we if the the decline of a you'll fully reflects ACR Could would Moody’s And a as say the effectively that or the you decline – of year? stays this rest this here, saw at ratio see you You you outlook? for economic better a model kind reserve base quarter from kind move unchanged are their

Richard Bradshaw

Yeah.

I'm $XX million off thinking provided this I'm is and way The $XX the charged that year of that million. Catherine. thinking way we last So, is it Rob, – we

we in it though and realized, just I built XXXX. the forecast by the then increase the weren't economic quarter. taking forecast, not that of reserve way And economic we benefit So comment about say this had the during your of would million special-mentioned the in all comfortable has the $XX loans we all that of because been

didn't of like So, that. was feel it right realize to it all

Lynn Harton

of terms in when might expectation you your see. And

Catherine Mealor

is right? But that say credit loan to two in So, have wait the would you in of once my you expectation going or a are just a to QX terms then, is kind before mention, flat put move out. you special quarter, it yeah, a ability of probably so trends, quarter I

economic to right it we of And say the special third would fourth would decline I then of outlook. as what that the and happens, now quarter. the that seeing, in would mention on quarter realization I'm expectation could be see based So, positive my more loans begin the

Richard Bradshaw

Right.

Okay.

guidance, and back think move So to quarter zero then, like we kind A of the QX then next the kind year? negative Lynn of half in Harton a give look provision growth That's about and good have depending renew a in provision what so like we returns the of on it. maybe way not but - as charge-offs

Richard Bradshaw

leasing really you're And content Okay. they're flow on category senior there the no to just have there within All is any really feels downgrade, cash cash potential downgrading care Yeah. anything right. like kind or according it's just it not that worried Great. that A Lynn a really leasing? that up - Are then, it Are and and the there? flowing the projects Harton plan. that given about perhaps of loss original

were more improvement would begin of a going in So to I'm was much good you're I of occupancies. right. go. things question. demonstrate I number worried about September, optimistic where in And it's to We've kind seen And a say properties now.

right. exactly You're

– – go. doesn't just lease So just a of it into and fast as a begin it project comes as up certificate that originally it to thought they would they obtains go was occupancy and

pleased. we're it But the in trends. was and and takes fact the quarter are we with special longer little we're those And majority are first a carrying their seeing projects improving I pleased mention. So occupancy. of in our projects

Operator

Thank you, Operator.

open. from of of D.A. is Kevin Davidson. is now your line Fitzsimmons line the question Next Sir,

Kevin Fitzsimmons

more seemed Rich, follow-up on tremendous that's like were the of in size it I'm on a just a of if market maybe the like market. it But and is hiring many But a you it given a but market lack right hiring there's a obviously guys a focus sizable of opportunities wondering the on consolidation the market that talent question that and Florida. byproduct M&A happened seems take lot in I banks left more over got the it's quick to is to or consolidate. they Just that's the of environment just – now was just And not good years. concentrated given just the byproduct know that Seaside. discussion examples the all

out that's I Is be to traditional what acquisitions? team So guess Florida the build – Thanks. wondering. to in I'm be out going to lift type going as Florida much opposed more of a effort of

Richard Bradshaw

So, But and whatever makes two of kind available focused people Florida I like now, right ago. the XX to that rest don't timing I'm now that Atlanta be noise going the Florida leave talent M&A perfect in right months for time it footprint in there of want in and on to was seems out. then because answer ways reason, Florida in opportunities to I'm and where the are first certainly of that the

We're of certainly the particular conversations lenders taking They're just those certainly, time. relationships footprint. will that on can we're in bring we're much that on that's looking market right of opportunities. a deep so I for more all There'd throughout And portfolios lift those rest the advantage have the its outside. experienced are going tell person. that really as one be over. the person they not and the you And

of kind opportunities. both we're how at looking that's so, And

Operator

Sir, with now from Inc. line is Brody of open. Stephens, the is question Next your line Preston

Brody Preston

question just have follow-up the . a on Hey. SNCs I

the run ran even or $XX another So, it you it off $XX that of it that’s What's a you is about off? said XXXX? Is XQ was million timing throughout $XX considering. million you're and about million will when

Richard Bradshaw

that good loans not question. longer, a It's it six it's right? about but months. longer is not think I because actually Those I term, or a it's thinking guess – Yeah. was I have

over good So, it'll next, window I think, that. likely be would months for XX be a the probably

Brody Preston

Okay, okay.

so go So, of this quarter? of ahead. – this in yeah, this – quarter all And million kind was the maturing anomalous kind $XX

Richard Bradshaw

of credits part They'll depends, these how acquisition. it do do Well, right? refinances, too, work, they'll

is Just probably just – probably it's predict in activity hard but it markets. those things, depends guess. conservative months But to the those on XX a

Brody Preston

Got it.

And there the I about third what balances so, portfolio? of that in the saw ask that was loans this lower to so, in the wanted core that's C&I drove a And SNC quarter? the that C&I reduction else runoff, you

Richard Bradshaw

had We a ahead. go conversion. I'll

of had process. a and So, lot reclassified that loans of in Seaside in we converted March this year,

a there's that. So, lot of noise in just

And saw so any view material of we – we the that portfolio, think better going really in we have a changes expect overall don't QX and that forward. all

Brody Preston

the on sub-standard. line? consistent But projects I hearing wanted sponsors the Understood. I I Care these to that the lease-ups the the ask of time couple that. it's then, that's understood to is the you're Special the guess of a I Rob, that there original loans, theme from or Mention on kind more caused Senior appreciate these migrated causing delay And last in lease-ups that's to quarters you've relative

Richard Bradshaw

that couldn't was quarter, COVID. lot was see and – the about senior much a care like It it in of open, Well, go the feels fourth markets were you very facility. relative not a in and a

can see never her put care you and mom a again. So senior facility, you in

quarter the just the properties facility. visit a go So not because allowed appetizing. always course, doesn't do then, to in very Christmas for these is fourth right if going of wasn't season And that you're to it be the especially just time seem low like to

and are early have and are January, on largely employees we and like to of uptick vaccinations the we that's started making there. weren't in due we some the that we occupancies properties properties So feel – think seeing and before, residents tracking in progress seeing good

Lynn Harton

good this see priority it’s just impact are. third-party on probably better of the that picked going, badge call with industry underwriter they're up. monthly have portfolio very end are starting positive. And are won't quarter. list. the feeling all industry. until manager, again Everyone's with all where add trends relationship obviously, him have a But what to vaccinations have we the the trends we what and And and we’re And check that I hearing fill the much about is a would the a on I to the and

as So, have the all well. got them workers

right So, just but good. it's the the It's slowly industry moving moving feels in direction.

Richard Bradshaw

Yeah. Agree with that.

Brody Preston

it. Got

Okay. I mortgage, just know lower be what do back and this that And assuming dollar But lag. switching the just But volatile. that that Jefferson, a guess then come I that there's it's variable that? can understand – to run amount of expenses works through in of I on dollar expect kind work if X% the you way – its of way of X%, amount down XQ out to maybe what's fees the it based rate the would kind

Richard Bradshaw

parameters that. some you on give I'll

in total, of we quarter. So, commissions million mortgage this had $X

We I concert of expect maybe with Rich down. kind that to be talking see volumes. in

Lynn Harton

it's mean, be at I a in that look I'm going of But Yeah. not certainly, this what on get that back we're phone good couple answer. making have That's accordingly – income. I Though, million fee call so sure if in a down and we you. to terms we're down, question. to can

Brody Preston

Got it.

front, been so last Okay. gain And sales the over few the the quarters having guys on on have you SBA that hovering. been have

divided premiums with pretty X.X% math do and sales Can bit quickly. still If low, improving range. that X% to that get But a rates the simple economy of on of the the by loan the you and fee paper just kind the up

on I sale so, in to you business? forward moving ask for seeing guys And gain of terms are what that wanted margins

Richard Bradshaw

answer The Rich. are right record at question is now gains highs. is This to your

the and term the size worry loan. and based it's the the loan the of They Now do concentration. about remember, of on that pricing

sell your XX% million loan But to a point, $X they’re going probably much as quarter-over-quarter loan. as up million to $X from quarter. last So isn't

to So your right very strong point. now

Brody Preston

point? what last this portfolio floating it. of then, one Jefferson, loan two Got I And rate just the at had quick. percent is real

Richard Bradshaw

XX%.

Brody Preston

And ahead. Okay. go

Richard Bradshaw

question, but next have $X.X your priced on rate at is we billion that floors. loans this of their slide, floating maybe one And

on right hike now behaving we're rate like a So we're the XX% next more floating.

got rate you two of If floor. hikes, half would off be that about the

Brody Preston

That very you much. was the next question. Thank

Richard Bradshaw

All right.

Operator

call over for Harton for closing you now I'll hand the Lynn Thank all to questions. the comments. back

Lynn Harton

Appreciate all thank joining the call. Well, once the just interest. for Great. I questions. again, you Great

so quarter. you us have please buzz. of one free If talking to And up Thank any we feel you any look to issues, give a next forward follow much.

Operator

you Thank for participating. all conference. today's that And concludes

You disconnect. may now

United Community Banks (UCB) 21 Apr 212021 Q1 Earnings call transcript