UNITED COMMUNITY BANKS INC Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
(in thousands, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Net income | $ | 328,095 | $ | 252,397 | $ | 187,544 | |||||||||||
| Earnings allocated to participating securities | (1,918) | (1,478) | (1,032) | ||||||||||||||
| Dividends on preferred stock | (4,719) | (6,293) | (6,635) | ||||||||||||||
| Deemed dividend on redemption of preferred stock | (3,275) | — | — | ||||||||||||||
| Discount on preferred shares repurchased | — | — | 970 | ||||||||||||||
| Net income available to common stockholders | $ | 318,183 | $ | 244,626 | $ | 180,847 | |||||||||||
| Net income per common share: | |||||||||||||||||
| Basic | $ | 2.62 | $ | 2.04 | $ | 1.54 | |||||||||||
| Diluted | 2.62 | 2.04 | 1.54 | ||||||||||||||
| Weighted average common shares: | |||||||||||||||||
| Basic | 121,309 | 119,783 | 117,603 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Stock options | 67 | 82 | 121 | ||||||||||||||
| Restricted stock units | 61 | 35 | 21 | ||||||||||||||
| Diluted | 121,437 | 119,900 | 117,745 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.