United Community Banks Cuts Profit Outlook

United Community Banks said fourth quarter operating earnings per share will be 12 cents to
14 cents below its prior view, as it coninues to write-off problem loans and set aside more money to meet future defaults.

The Blairsville, Georgia-based bank holding company expects GAAP earnings to be 8 cents to 10 cents a share below its prior forecast.

Aggregate fourth quarter provision for loan losses is expected to be $29.5 million, United Community said in a press release.