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.
In this year’s annual report, we have decided to tell the United Bancorporation story in a visual way; to paint a picture of the triple bottom-line approach. In addition to 2017 fiscal information, this report also includes some examples of economic projects completed through UB Community Development, LLC (UBCD), a community development partner of United Bank. Leveraging our 2016 $65 million New Market Tax Credit allocation and $40 million Community Facilities Loan Program, UBCD has pioneered economic development in underserved communities, bringing new industry, jobs and services to rural counties across Alabama and beyond.
Also outlined in this report is our commitment to elevating communities through charitable giving and partnerships. The United Bank Charitable Foundation, formed in 1997, serves as our charitable arm, providing financial support to community organizations and non-profits in our service area. In this section, you will learn about projects like the Church Street Incubator and GECA Community Theatre—both made possible with funds provided by the United Bank Charitable Foundation.
I hope this report offers valuable insight as to how all three areas of the United Bancorporation business model intersect to produce strong financial performance and to connect people and resources to build successful, sustainable communities in the areas we serve.
Robert R. Jones III
CEO
United Bancorporation of Alabama, Inc.
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.
In this year’s annual report, we have decided to tell the United Bancorporation story in a visual way; to paint a picture of the triple bottom-line approach. In addition to 2017 fiscal information, this report also includes some examples of economic projects completed through UB Community Development, LLC (UBCD), a community development partner of United Bank. Leveraging our 2016 $65 million New Market Tax Credit allocation and $40 million Community Facilities Loan Program, UBCD has pioneered economic development in underserved communities, bringing new industry, jobs and services to rural counties across Alabama and beyond.
Also outlined in this report is our commitment to elevating communities through charitable giving and partnerships. The United Bank Charitable Foundation, formed in 1997, serves as our charitable arm, providing financial support to community organizations and non-profits in our service area. In this section, you will learn about projects like the Church Street Incubator and GECA Community Theatre—both made possible with funds provided by the United Bank Charitable Foundation.
I hope this report offers valuable insight as to how all three areas of the United Bancorporation business model intersect to produce strong financial performance and to connect people and resources to build successful, sustainable communities in the areas we serve.
Robert R. Jones III
CEO
United Bancorporation of Alabama, Inc.