from the CEO

Our dedication to our customers throughout Alabama and northwest Florida is at the heart of everything we do, and is the foundation of our continued prosperity.

To Our Shareholders,

Wherever I travel—across the state and beyond—I constantly tell people about the unique aspects of United Bancorporation and the ways our organization differs from other traditional financial institutions. At United Bancorporation, we take an innovative triple bottom-line approach, which consists of the following areas: 1) financial performance 2) economic development and 3) community development. This approach builds on a foundation of responsible fiscal stewardship to produce lasting transformative impact in the communities where we live and serve…

The Triple Bottom Line

United Bancorporation is pleased to present our 2017 annual report. In this report, you will learn about United Bancorporation’s “triple bottom line” approach made up of three areas: 1) strong financial performance 2) economic development and 3) community development. These three areas complete a full-circle approach designed to sustainably fuel our growth as a financial institution and make a transformative difference in the lives of our customers.

Honoring our past and with an eye towards the future, United Bancorporation is dedicated to Alabama and northwest Florida with a passion for connecting people and resources to build successful, sustainable communities in the areas we serve. This full-circle approach is designed to sustainably fuel our growth as a financial institution and make a transformative difference in the lives of our customers.

Innovation & Impact

Maintaining a number two deposit share in the markets we serve, United Bank is routinely recognized as one of America’s strongest banks.

United Bank first opened its doors in January 1904 with paid capital stock of $15,000. By October of the same year, the bank had assets totaling $44,668 and our history of growth, prosperity, innovation and elevating communities had begun. The decades that followed were prosperous ones, and in 1982 the holding company United Bancorporation of Alabama, Inc. was formed.

Operating officially as United Bank, during the 1980’s new branches opened and a host of technological improvements were made, including ATMs, telephone banking, check imaging and more. The dawn of the 21st century saw continued expansion, with full-service branches opening in multiple locations across south Alabama, and entry into the Florida market in 2005.

UB Community Development, LLC (UBCD) is dedicated to meeting the needs of economically disadvantaged and underserved communities. UBCD, a community development partner of United Bank, was recently certified by the U.S. Department of Treasury as a Community Development Entity (CDE). This distinction was earned, in part, because of United Bank’s demonstrated community involvement, including execution of programs related to financial literacy, homebuyer initiatives and credit building programs. Founded in 1904, United Bank, has a history of providing exceptional customer service and innovative technology to our customers, which has endured the test of time and is at the heart of our continued expansion into new markets.

UBCD’s New Market Tax Credit Program is part of a federal tax credit program enacted by Congress in 2000, designed to stimulate private investment in low-income urban neighborhoods and rural communities. In 2016, United Bancorporation of Alabama, Inc. received $65MM in New Market Tax Credits, and remains the only community development entity headquartered in Alabama to receive the allocation. In 2017, following the successful deployment of more than $90MM of New Market Tax Credits, UB Community Development received a $55MM allocation of New Market Tax Credits.  This allocation further validates our team’s extensive expertise and passion to bring community oriented economic development projects to qualifying areas.

Starting with our first agriculture loan made in 1904, United Bancorporation has a proud history of agri-business lending and finance services. We have been lending to the agriculture community for over 110 years and plan to continue cultivating our relationships and services in this area for years to come. Our agriculture-related products and services include real estate loans, facility and equipment loans, working lines of credit, agri-business loans and more. As a certified Farm Service Agency Department Lender in Alabama and Florida, United Bank is uniquely equipped to deliver better value and service to local farmers and ag-related businesses.

Investment Partners

Partnering with United Bancorporation as an investor or shareholder means more than just buying shares of a stock in a growing financial institution. Investing in United Bancorporation means real, tangible results that can be seen in every category of our business from financial performance to our employees and transformative impact in the communities we serve. Taking care of our customers, our shareholders, and looking out for the best interest of our communities is ingrained in the way we conduct business every day.

United Bank thrives when our customers and communities do the same. By investing in United Bank through our parent company, United Bancorporation of Alabama, Inc., our shareholders make a real difference, one that can be seen and felt, in the lives of their neighbors and in our communities. Our products and services offer the best value for the least cost to the client. And, the loans we make help businesses grow and families be successful. The return on your investment—the difference you make in your community as a shareholder—goes far beyond financial dividends.