1st united bancorp inc/north
(FUBC:Consolidated Issue Listed on Nasdaq Glbl Slct Mrkt)
1st united bancorp inc/north (FUBC) Key Developments
1st United Bancorp, Inc. announced that its board of directors has declared their first quarterly cash dividend of $0.01 per share on shares of 1st United common stock, payable on May 8, 2013 to shareholders of record as of the close of business on May 2, 2013.
1st United Bancorp, Inc. (NasdaqGS:FUBC) is seeking acquisitions. Warren S. Orlando, Chairman of 1st United said, "Our continued strong capital base, liquidity and overall financial strength will continue to allow us the opportunity to continue to expand both organically as well as through potential acquisitions."
1st United Bancorp, Inc. announced that they will report Q1, 2013 results at 9:15 PM, GMT Standard Time on Apr 19, 2013
1st United Bancorp, Inc., Q1 2013 Earnings Call, Apr 22, 2013
1st United Bancorp, Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income of $1,727,000 or $0.05 per basic and diluted share on net interest income of $17,489,000 and interest income of $18,612,000 compared to net income of $857,000 or $0.03 per basic and diluted share on net interest income of $14,251,000 and interest income of $15,836,000 a year ago. Income before taxes was $2,728,000 compared to $1,389,000 a year ago. Return on average assets was 0.44% compared to 0.24% a year ago. Return on average equity was 2.85% compared to 1.59% a year ago. Net interest income after provision for loan losses was $16,589,000 compared to $12,051,000 a year ago. For the year, the company reported net income of $4,728,000 or $0.14 per basic and diluted share on net interest income of $67,536,000 and interest income of $72,849,000 compared to net income of $3,672,000 or $0.13 per basic and diluted share on net interest income of $54,060,000 and interest income of $60,409,000 a year ago. Income before taxes was $7,536,000 compared to $5,954,000 a year ago. Return on average assets was 0.31% compared to 0.28% a year ago. Return on average equity was 2.03% compared to 1.80% a year ago. Book value per share as on December 31, 2012 was $6.95 compared to $7.04 a year ago.
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Industry Analysis
FUBC
Industry Average
| Valuation | FUBC | Industry Range |
| Price/Earnings | 40.2x |
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| Price/Sales | 3.7x |
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| Price/Book | 1.0x |
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| Price/Cash Flow | 40.8x |
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| TEV/Sales | 1.1x |
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