UCB says bank remains healthy

BLAIRSVILLE - United Community Bank officials said that while the bank did post a $23.6 million net operating loss for the fourth quarter of 2010, the bank is still healthy.

Craig Metz is Vice President of Marketing for the Blairsville-based bank, and said an analyst's comments in the Atlanta Journal Constitution this week should not cause customers to worry. He said UCB has sufficient operating capital.

"Historically, well-capitalized banks required a six percent [operating fund] and we're at seven-and-a-half percent now," said Metz.

The analyst had speculated that United Community Bank would need $400 million in additional investments. Metz said he was unsure of how the analyst arrived at that dollar figure.

Metz said 2010 was a strong year for United Community Bank, despite a gloomy outlook overall for the banking industry.

"We've added 10,000 new customers on the personal side and we've added over 10,000 new small business accounts," noted Metz. "And we've had the best growth in core deposits that we've had in years."

United Community Banks operates 106 banking offices in north and coastal Georgia, east Tennessee, and western North Carolina.