Company Profile Shares of United Community Banks ( UCBI) of Blairsville, Ga., closed at $2.61 Wednesday, for a year-to-date decline of 23%. Income Statement The company reported a second-quarter net loss to common shareholders of $62.1 million or 66 cents a share, compared to losses to common shareholder of $35.9 million or 38 cents a share during the first quarter and $18.6 million or 38 cents a share in the second quarter of 2009. The increased loss for the second quarter included $45 million in expenses from the company's sale of $103 million in nonperforming loans and repossessed properties. Balance Sheet United Community had $7.7 billion in total assets as of June 30. The company owes $180 million in TARP money. The nonperforming assets ratio was 4.61% as of June 30, declining from 5.48% the previous quarter and 5.26% a year earlier. The net charge-off ratio for the second quarter was 4.87%. Through its direct investment programs, the company said it raised $939 million in common equity during the first half of 2010. The tier 1 leverage ratio was 7.72% and the total risk-based capital ratio was 13.85% as of June 30. Stock Ratios The shares were changing hands at 0.5 times tangible book value as of Wednesday's close, according to SNL. Analyst Ratings Out of nine analysts covering the company, three rate United Community's shares a buy, while six analysts recommend holding the shares. Guggenheim Securities analyst Jeff Davis has a neutral rating on the shares, although his 12-month target of $3.50 would be a 34% gain from Wednesday's close.