Today, I’m pleased to report that United Bancorporation is a vibrant, growing, and diversified banking franchise. The Corporation currently has 18 traditional bank branches with 21 offices and two wholly owned subsidiaries. Our business model is a powerful, evolving solution of banking verticals and niches that are intertwined to create a nimble, innovative enterprise. Our talented management team has extensive experience in leveraging niches into profitable lines of product mixes that position the bank for growth. Strategic opportunities in our region have the potential to generate more earnings beyond those of traditional banking institutions.

In 2018, United Bancorporation reported all-time record consolidated earnings of $10 million, and strong capital ratios of 9.45% in addition to outstanding asset quality. This record performance followed a year of strategic core bank focus coupled with implementation of new lines of business such as the Capital Magnet Fund, Community Facilities Lending Program, and New Market Tax Credits. Ranked second overall in deposit market share in our footprint, our strength resides in core deposit funding. United Bank has built retail capacity to attract and maintain customer relationships. In turn, these relationships provide deposit growth putting us in a unique position to fund loan growth using our traditional banking model.

UB Community Development and CDFI business lines generate significant fee, grant, and award income, while serving as an economic development engine in operating markets. Since 2010, the Corporation has received eight BEA awards totaling $2.26 million, two New Market Tax Credit allocations totaling $120 million, and a Capital Magnet Fund award of $4 million.

These profitable niches have given us the capability for expansion. In 2018 we opened our Brewton, Alabama branch, our first geographic expansion since 2007. Now serving all of Escambia County, Alabama, United Bank has demonstrated its strong commitment to the community.

United Bank is a profitable, regulated commercial bank. Yet, we are differentiated from our competitors by our commitment to community and economic development. And our efforts have yielded tangible results for the community. With more than $200 million in capital investments, 3,022 jobs retained or created, and 800,000 square feet of construction, United Bank is connecting people and resources to build successful, sustainable development in the communities we serve.

Robert R. Jones III


United Bancorporation of Alabama, INC.