Special to Atmore News
United Bancorporation of Alabama (UBAB), the parent company of United Bank, was ranked 16th in the country in the recently published American Banker publication annual list of the top 200 publicly held banks with assets of less than $2 billion.
The survey reviewed more than 600 banks across the country to compile the top 200 list. No other Alabama bank ranked in the top 100.
“Many of our customers still prefer a community bank. Which is why we’ve created a robust retail delivery system of branch offices strategically spread across our market area designed to provide a high level of service to customers wherever and whenever they want,” said United Bank CEO Robert R. Jones, III “This strategy has resulted in a strong boost in core deposits, giving us low-cost access to funding we can use to grow our business and offer much-needed, affordable financial services to the areas we serve.
“United Bank was one of the first banks in Alabama to receive the Community Development Financial Institution (CDFI) certification, a formal recognition of United Bank’s healthy financial performance along with our impact in the communities we serve and their economic development.”
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 13.86 percent, well above the 600-bank average ROAE of 7.44 percent.
“We are extremely proud of our ranking in this survey,” Jones said. “But we’re even prouder of the impact we are having on our communities. We will continue to strengthen our bank and grow our business so we can continue to provide value for our customers, our shareholders, and everyone in our communities.”