SEC Filing | United Community Banks, Inc.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):
July 26, 2017

UNITED COMMUNITY BANKS, INC.
(Exact name of registrant as specified in its charter)

Georgia	No. 001-35095	No. 58-180-7304
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation)		Identification No.)

125 Highway 515 East
Blairsville, Georgia 30512
(Address of principal executive offices)

Registrant’s telephone number, including area code:
(706) 781-2265

Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§240.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02

Results of Operations and Financial Condition.

On July 26, 2017, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended June 30, 2017 (the “News Release”). The News Release, including financial schedules, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In connection with issuing the News Release, on July 26, 2017 at 11:00 a.m. ET, the Registrant intends to hold a conference call/webcast to discuss the News Release. In addition to the News Release, during the conference call the Registrant intends to discuss certain financial information contained in the Second Quarter 2017 Investor Presentation (the “Investor Presentation”), which will be posted to the Registrant’s website at www.ucbi.com. The Investor Presentation is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The presentation of the Registrant’s financial results includes financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “operating net income,” “operating net income per diluted share,” “tangible book value,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk-weighted assets.” In addition, management has included the presentation of “pre-tax, pre-credit earnings”, which excludes the provision for credit losses, income taxes and merger-related and other charges. Management has included these non-GAAP measures because it believes they may provide useful supplemental information for evaluating the Registrant’s underlying performance trends. Further, management uses these measures in managing and evaluating the Registrant’s business and intends to refer to them in discussions about the Registrant’s operations and performance.

Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included in the News Release and the Investor Presentation attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.		Description

99.1		News Release, dated July 26, 2017

99.2		Investor Presentation, Second Quarter 2017

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	UNITED COMMUNITY BANKS, INC.

	By:	/s/ Jefferson L. Harralson
		Jefferson L. Harralson
		Executive Vice President and
		Chief Financial Officer

Date: July 26, 2017

Exhibit 99.1

For Immediate Release

For more information:

Jefferson Harralson

Chief Financial Officer

(706) 781-2265

Jefferson_Harralson@ucbi.com

UNITED COMMUNITY BANKS, INC.

ANNOUNCES SECOND QUARTER EARNINGS

Diluted earnings per share up 11 percent, to 39 cents, from second quarter 2016

Excluding merger-related and other non-operating charges,

diluted operating EPS up 14 percent, to 41 cents

Net interest revenue of $85.1 million, up $10.2 million or 14 percent from year ago

Net interest margin of 3.47 percent, up two basis points from first quarter and up 12 basis points from year ago

Return on assets of 1.06 percent, or 1.10 percent excluding merger-related and other charges

Efficiency ratio of 57.9 percent, or 56.2 percent excluding merger-related and other charges

Announced two acquisitions during the quarter

BLAIRSVILLE, GA – July 26, 2017 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced strong second quarter results with disciplined expense management, sound credit quality and meaningful margin expansion. Net income was $28.3 million, or 39 cents per diluted share, compared with $25.3 million, or 35 cents per diluted share, for the second quarter of 2016.

On an operating basis, net income rose to $29.4 million for the second quarter of 2017 compared with $26.0 million for the second quarter of 2016. Second quarter 2017 operating net income excludes merger-related and executive retirement charges totaling $1.16 million, net of the associated income tax benefit. Second quarter 2016 operating net income excludes $731,000 in merger-related charges, net of the associated income tax benefit. On a per diluted share basis, operating net income was 41 cents for the second quarter of 2017 compared with 36 cents for the second quarter of 2016.

At June 30, 2017, preliminary regulatory capital ratios were as follows. Tier 1 Risk-Based of 11.9 percent; Total Risk-Based of 12.7 percent; Common Equity Tier 1 Risk-Based of 11.9 percent, and Tier 1 Leverage of 9.0 percent.

“From both financial and strategic perspectives, I am very pleased with our second quarter performance,” said Jimmy Tallent, chairman and chief executive officer. “It marks our twelfth consecutive quarter of double-digit growth in diluted operating earnings per share, which is a key driver of stock price appreciation. We accomplished this by growing loans and deposits in a disciplined manner that slightly widened our net interest margin and maintained our outstanding credit quality.

“Excluding merger-related and other non-operating charges, our second quarter operating efficiency ratio improved to 56.2 percent, surpassing the fourth quarter record which was the best in more than a decade,” Tallent continued. “Including those charges, the efficiency ratio was 57.9 percent. From a financial perspective, our bankers delivered solid performance by every measure.”

Tallent said the second quarter was also remarkable from a strategic perspective. “We announced two strategic partnerships during the quarter that will expand and enhance our footprint in dynamic, high-growth markets,” he said. “On April 20, we announced the Horry County State Bank acquisition which will close in the third quarter and significantly enhance our presence in the Myrtle Beach area along the South Carolina coast. The acquisition of Horry County State Bank is part of our larger, ongoing expansion strategy in the high-growth South Carolina coastal markets.

“On June 27, we announced our planned acquisition of Four Oaks Bank & Trust Company, which should close in the fourth quarter and will extend our footprint farther east in North Carolina to the fast-growing Raleigh MSA. We have long sought to enter this market and are delighted to find an exceptional partner in Four Oaks. I could not be more pleased with these two partnerships and look forward to them becoming part of United.

“Second quarter loan production was $667 million,” Tallent added. “Linked-quarter loan growth was $76 million, or four percent annualized. Our community banks originated $461 million in loans, while our recently renamed Commercial Banking Solutions group produced $166 million.”

Commercial Banking Solutions, previously named Specialized Lending, encompasses commercial lending for income property, middle market, SBA, asset-based, senior care, builder finance and recently announced renewable energy.

Second quarter net interest revenue totaled $85.1 million, up $10.2 million from the second quarter of 2016 and up $1.6 million from the first quarter. The increases from both periods reflect growth in loans and deposits and net interest margin expansions of 12 basis points from a year ago and two basis points from the first quarter, mostly driven by rising short-term interest rates. The increase in net interest revenue from a year ago also reflects the acquisition of Tidelands Bank which was completed on July 1, 2016. Tidelands Bank results are included in United’s financial results from the acquisition date.

The second quarter provision for credit losses was $800,000, equal to the first quarter provision. This compares with a provision recovery of $300,000 in the second quarter of 2016. Second quarter net charge-offs totaled $1.6 million, compared with $1.7 million in both the second quarter of 2016 and the first quarter of 2017. Contributing to the low level of net charge-offs were continued strong recoveries of previously charged-off loans. Nonperforming assets were .24 percent of total assets at June 30, 2017, compared with .28 percent at June 30, 2016 and .23 percent at March 31, 2017.

“Our second quarter provision for loan losses reflects continued strong, steady credit quality and a low level of net charge-offs,” Tallent commented. “Our credit quality indicators remain favorable and our outlook is for that to continue. We also expect our provision levels to gradually increase during the year due to loan growth, while our allowance and the related ratio to total loans will decline slightly.”

Second quarter fee revenue totaled $23.7 million, up $188,000 from a year ago and up $1.61 million from the first quarter. The increase from the first quarter was mostly in mortgage fees, gains from sales of SBA loans and other fee revenue. The increase from a year ago was mostly in mortgage fees. Mortgage fees were up $363,000 from a year ago, and $387,000 from the first quarter. In the second quarter we closed 888 loans totaling $204 million compared with 697 loans totaling $151 million in the first quarter and 853 loans totaling $182 million in the second quarter of 2016. Gains from sales of SBA loans were down $175,000 from a year ago but were up $667,000 from the first quarter following a seasonal first quarter decline. Other fee revenue was up $718,000 from the first quarter mostly due to higher customer derivative fees and higher earnings from bank-owned life insurance assets.

Operating expenses were $63.2 million for the second quarter, compared with $58.1 million for the second quarter of 2016 and $62.8 million for the first quarter. Included in operating expenses are merger-related and executive retirement charges of $1.83 million in the second quarter, merger-related charges of $1.18 million in the second quarter of 2016, and merger-related and branch closure charges of $2.05 million in the first quarter of 2017. Excluding these charges, second quarter operating expenses were $61.4 million compared with $56.9 million a year ago and $60.8 million for the first quarter. The $627,000 increase from the first quarter, though partially offset by lower professional fees, was mostly due to an increase in salaries and employee benefit costs following annual staff compensation increases that went into effect on April 1.

The overall increase in other expenses resulted from higher travel-related costs, internet banking service provider charges, and higher lending support costs. The decrease in professional fees was due to elevated costs in the first quarter to assist with model development for United’s stress testing project. The increase in operating expenses from a year ago reflects additional expense following the acquisition of Tidelands Bank on July 1, 2016.

Income tax expense for the second quarter totaled $16.5 million compared with $15.4 million a year ago and $18.5 million in the first quarter. The first quarter was elevated due to a $3.4 million non-cash charge to release income taxes on hedge instruments that were held in other comprehensive income during the time in which United had a full valuation allowance on our deferred tax asset.

Tallent concluded, “Our bankers continue to do what they do best and that is take care of their customers by delivering the highest level of courteous service. Their passion and commitment drive our performance and are reflected in our second quarter financial results. I look forward to the opportunities that lie ahead and am excited about completing the acquisitions of Horry County State Bank and Four Oaks Bank & Trust Company. These two exceptional banks are outstanding strategic partners in key growth markets and share our passion for banking and our commitment to customer service. I look forward to welcoming them aboard and for the opportunities that these acquisitions create to recruit other talented bankers from within these markets into the United family.”

Conference Call

United will hold a conference call today, Wednesday, July 26, 2017, at 11 a.m. ET to discuss the contents of this earnings release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 47369140. The conference call also will be webcast and available for replay for 30 days by selecting “Events & Presentations” within the Investor Relations section of United’s website at www.ucbi.com.

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company based in Blairsville, Georgia with $10.8 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 134 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United Community Bank for outstanding customer service. In 2014, 2015 and 2016, J.D. Power ranked United Community Bank first in customer satisfaction in the Southeast. In 2017, for the fourth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures

This News Release, including the accompanying financial statement tables, contains financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “operating net income,” “operating net income per diluted share,” “operating net income available to common shareholders,” “operating diluted income per common share,” “tangible book value per common share,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk-weighted assets.” These non-GAAP measures are included because United believes they may provide useful supplemental information for evaluating United’s underlying performance trends. These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included with the accompanying financial statement tables.

Safe Harbor

This News Release contains forward-looking statements, as defined by federal securities laws, including statements about United’s financial outlook and business environment. These statements are based on current expectations and are provided to assist in the understanding of future financial performance. Such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements. For a discussion of some of the risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to United’s filings with the Securities and Exchange Commission, including our 2016 Annual Report on Form 10-K under the sections entitled “Forward-Looking Statements” and “Risk Factors.” Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements.

# # #

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Selected Financial Information

																Second			For the Six
	2017						2016									Quarter			Months Ended						YTD
	Second			First			Fourth			Third			Second			2017-2016			June 30,						2017-2016
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2017			2016			Change
INCOME SUMMARY
Interest revenue	$	93,166		$	90,958		$	87,778		$	85,439		$	81,082					$	184,124		$	161,803
Interest expense		8,018			7,404			6,853			6,450			6,164						15,422			11,933
Net interest revenue		85,148			83,554			80,925			78,989			74,918			14	%		168,702			149,870			13	%
Provision for credit losses		800			800			-			(300	)		(300	)					1,600			(500	)
Fee revenue		23,685			22,074			25,233			26,361			23,497			1			45,759			42,103			9
Total revenue		108,033			104,828			106,158			105,650			98,715			9			212,861			192,473			11
Expenses		63,229			62,826			61,321			64,023			58,060			9			126,055			115,945			9
Income before income tax expense		44,804			42,002			44,837			41,627			40,655			10			86,806			76,528			13
Income tax expense		16,537			18,478			17,616			15,753			15,389			7			35,015			28,967			21
Net income		28,267			23,524			27,221			25,874			25,266			12			51,791			47,561			9
Preferred dividends		-			-			-			-			-						-			21
Net income available to common shareholders	$	28,267		$	23,524		$	27,221		$	25,874		$	25,266			12		$	51,791		$	47,540			9
Merger-related and other charges		1,830			2,054			1,141			3,152			1,176						3,884			3,829
Income tax benefit of merger-related and other charges		(675	)		(758	)		(432	)		(1,193	)		(445	)					(1,433	)		(1,449	)
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			976			-			-						-			-
Release of disproportionate tax effects lodged in OCI		-			3,400			-			-			-						3,400			-
Net income available to common shareholders - operating ⁽¹⁾	$	29,422		$	28,220		$	28,906		$	27,833		$	25,997			13		$	57,642		$	49,920			15

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.39		$	.33		$	.38		$	.36		$	.35			11		$	.72		$	.66			9
Diluted net income - operating ⁽¹⁾		.41			.39			.40			.39			.36			14			.80			.69			16
Cash dividends declared		.09			.09			.08			.08			.07						.18			.14
Book value		15.83			15.40			15.06			15.12			14.80			7			15.83			14.80			7
Tangible book value ⁽³⁾		13.74			13.30			12.95			13.00			12.84			7			13.74			12.84			7

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		9.98	%		8.54	%		9.89	%		9.61	%		9.54	%					9.27	%		9.06	%
Return on common equity - operating ^(1)(2)(4)		10.39			10.25			10.51			10.34			9.81						10.32			9.51
Return on tangible common equity - operating ^(1)(2)(3)(4)		12.19			12.10			12.47			12.45			11.56						12.15			11.24
Return on assets - GAAP ⁽⁴⁾		1.06			.89			1.03			1.00			1.04						.98			.98
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.10			1.07			1.10			1.08			1.07						1.09			1.03
Dividend payout ratio - GAAP		23.08			27.27			21.05			22.22			20.00						25.00			21.21
Dividend payout ratio - operating ⁽¹⁾		21.95			23.08			20.00			20.51			19.44						22.50			20.29
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.47			3.45			3.34			3.34			3.35						3.46			3.38
Efficiency ratio - GAAP		57.89			59.29			57.65			60.78			59.02						58.58			60.44
Efficiency ratio - operating ⁽¹⁾		56.21			57.35			56.58			57.79			57.82						56.77			58.45
Average equity to average assets		10.49			10.24			10.35			10.38			10.72						10.36			10.72
Average tangible equity to average assets ⁽³⁾		9.23			8.96			9.04			8.98			9.43						9.09			9.42
Average tangible common equity to average assets ⁽³⁾		9.23			8.96			9.04			8.98			9.43						9.09			9.38
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		12.44			12.07			11.84			12.22			12.87						12.44			12.87

ASSET QUALITY
Nonperforming loans	$	23,095		$	19,812		$	21,539		$	21,572		$	21,348			8		$	23,095		$	21,348			8
Foreclosed properties		2,739			5,060			7,949			9,187			6,176			(56	)		2,739			6,176			(56	)
Total nonperforming assets (NPAs)		25,834			24,872			29,488			30,759			27,524			(6	)		25,834			27,524			(6	)
Allowance for loan losses		59,500			60,543			61,422			62,961			64,253			(7	)		59,500			64,253			(7	)
Net charge-offs		1,623			1,679			1,539			1,359			1,730			(6	)		3,302			3,868			(15	)
Allowance for loan losses to loans		.85	%		.87	%		.89	%		.94	%		1.02	%					.85	%		1.02	%
Net charge-offs to average loans ⁽⁴⁾		.09			.10			.09			.08			.11						.10			.13
NPAs to loans and foreclosed properties		.37			.36			.43			.46			.44						.37			.44
NPAs to total assets		.24			.23			.28			.30			.28						.24			.28

AVERAGE BALANCES ($ in millions)
Loans	$	6,980		$	6,904		$	6,814		$	6,675		$	6,151			13		$	6,942		$	6,077			14
Investment securities		2,775			2,822			2,690			2,610			2,747			1			2,798			2,733			2
Earning assets		9,899			9,872			9,665			9,443			9,037			10			9,885			8,956			10
Total assets		10,704			10,677			10,484			10,281			9,809			9			10,691			9,721			10
Deposits		8,659			8,592			8,552			8,307			7,897			10			8,626			7,922			9
Shareholders’ equity		1,123			1,093			1,085			1,067			1,051			7			1,108			1,042			6
Common shares - basic (thousands)		71,810			71,700			71,641			71,556			72,202			(1	)		71,798			72,187			(1	)
Common shares - diluted (thousands)		71,820			71,708			71,648			71,561			72,207			(1	)		71,809			72,191			(1	)

AT PERIOD END ($ in millions)
Loans	$	7,041		$	6,965		$	6,921		$	6,725		$	6,287			12		$	7,041		$	6,287			12
Investment securities		2,787			2,767			2,762			2,560			2,677			4			2,787			2,677			4
Total assets		10,837			10,732			10,709			10,298			9,928			9			10,837			9,928			9
Deposits		8,736			8,752			8,638			8,442			7,857			11			8,736			7,857			11
Shareholders’ equity		1,133			1,102			1,076			1,079			1,060			7			1,133			1,060			7
Common shares outstanding (thousands)		70,981			70,973			70,899			70,861			71,122			-			70,981			71,122			-

⁽¹⁾Excludes merger-related and other charges, a first quarter 2017 release of disproportionate tax effects lodged in OCI and a fourth quarter 2016 deferred tax asset impairment charge related to cancelled non-qualified stock options. ⁽²⁾ Net income available to common shareholders, which is net of preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). ⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization. ⁽⁴⁾ Annualized. ⁽⁵⁾ Second quarter 2017 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2017						2016									For the Six Months Ended
	Second			First			Fourth			Third			Second			June 30,
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			2017			2016

Expense reconciliation
Expenses (GAAP)	$	63,229		$	62,826		$	61,321		$	64,023		$	58,060		$	126,055		$	115,945
Merger-related and other charges		(1,830	)		(2,054	)		(1,141	)		(3,152	)		(1,176	)		(3,884	)		(3,829	)
Expenses - operating	$	61,399		$	60,772		$	60,180		$	60,871		$	56,884		$	122,171		$	112,116

Net income reconciliation
Net income (GAAP)	$	28,267		$	23,524		$	27,221		$	25,874		$	25,266		$	51,791		$	47,561
Merger-related and other charges		1,830			2,054			1,141			3,152			1,176			3,884			3,829
Income tax benefit of merger-related and other charges		(675	)		(758	)		(432	)		(1,193	)		(445	)		(1,433	)		(1,449	)
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			976			-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			3,400			-			-			-			3,400			-
Net income - operating	$	29,422		$	28,220		$	28,906		$	27,833		$	25,997		$	57,642		$	49,941

Net income available to common shareholders reconciliation
Net income available to common shareholders (GAAP)	$	28,267		$	23,524		$	27,221		$	25,874		$	25,266		$	51,791		$	47,540
Merger-related and other charges		1,830			2,054			1,141			3,152			1,176			3,884			3,829
Income tax benefit of merger-related and other charges		(675	)		(758	)		(432	)		(1,193	)		(445	)		(1,433	)		(1,449	)
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			976			-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			3,400			-			-			-			3,400			-
Net income available to common shareholders - operating	$	29,422		$	28,220		$	28,906		$	27,833		$	25,997		$	57,642		$	49,920

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.39		$	.33		$	.38		$	.36		$	.35		$	.72		$	.66
Merger-related and other charges		.02			.01			.01			.03			.01			.03			.03
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			.01			-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			.05			-			-			-			.05			-
Diluted income per common share - operating	$	.41		$	.39		$	.40		$	.39		$	.36		$	.80		$	.69

Book value per common share reconciliation
Book value per common share (GAAP)	$	15.83		$	15.40		$	15.06		$	15.12		$	14.80		$	15.83		$	14.80
Effect of goodwill and other intangibles		(2.09	)		(2.10	)		(2.11	)		(2.12	)		(1.96	)		(2.09	)		(1.96	)
Tangible book value per common share	$	13.74		$	13.30		$	12.95		$	13.00		$	12.84		$	13.74		$	12.84

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.98	%		8.54	%		9.89	%		9.61	%		9.54	%		9.27	%		9.06	%
Merger-related and other charges		.41			.47			.26			.73			.27			.44			.45
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			.36			-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			1.24			-			-			-			.61			-
Return on common equity - operating		10.39			10.25			10.51			10.34			9.81			10.32			9.51
Effect of goodwill and other intangibles		1.80			1.85			1.96			2.11			1.75			1.83			1.73
Return on tangible common equity - operating		12.19	%		12.10	%		12.47	%		12.45	%		11.56	%		12.15	%		11.24	%

Return on assets reconciliation
Return on assets (GAAP)		1.06	%		.89	%		1.03	%		1.00	%		1.04	%		.98	%		.98	%
Merger-related and other charges		.04			.05			.03			.08			.03			.05			.05
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			.04			-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			.13			-			-			-			.06			-
Return on assets - operating		1.10	%		1.07	%		1.10	%		1.08	%		1.07	%		1.09	%		1.03	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		23.08	%		27.27	%		21.05	%		22.22	%		20.00	%		25.00	%		21.21	%
Merger-related and other charges		(1.13	)		(.98	)		(.54	)		(1.71	)		(.56	)		(1.00	)		(.92	)
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			(.51	)		-			-			-			-
Release of disproportionate tax effects lodged in OCI		-			(3.21	)		-			-			-			(1.50	)		-
Dividend payout ratio - operating		21.95	%		23.08	%		20.00	%		20.51	%		19.44	%		22.50	%		20.29	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		57.89	%		59.29	%		57.65	%		60.78	%		59.02	%		58.58	%		60.44	%
Merger-related and other charges		(1.68	)		(1.94	)		(1.07	)		(2.99	)		(1.20	)		(1.81	)		(1.99	)
Efficiency ratio - operating		56.21	%		57.35	%		56.58	%		57.79	%		57.82	%		56.77	%		58.45	%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.49	%		10.24	%		10.35	%		10.38	%		10.72	%		10.36	%		10.72	%
Effect of goodwill and other intangibles		(1.26	)		(1.28	)		(1.31	)		(1.40	)		(1.29	)		(1.27	)		(1.30	)
Tangible equity to assets		9.23			8.96			9.04			8.98			9.43			9.09			9.42
Effect of preferred equity		-			-			-			-			-			-			(.04	)
Tangible common equity to assets		9.23	%		8.96	%		9.04	%		8.98	%		9.43	%		9.09	%		9.38	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		11.92	%		11.46	%		11.23	%		11.04	%		11.44	%		11.92	%		11.44	%
Effect of other comprehensive income		(.15	)		(.24	)		(.34	)		-			(.06	)		(.15	)		(.06	)
Effect of deferred tax limitation		.94			1.13			1.26			1.50			1.63			.94			1.63
Effect of trust preferred		(.25	)		(.25	)		(.25	)		(.26	)		(.08	)		(.25	)		(.08	)
Basel III intangibles transition adjustment		(.02	)		(.03	)		(.06	)		(.06	)		(.06	)		(.02	)		(.06	)
Tangible common equity to risk-weighted assets		12.44	%		12.07	%		11.84	%		12.22	%		12.87	%		12.44	%		12.87	%

⁽¹⁾ Second quarter 2017 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2017				2016						Linked			Year over
	Second		First		Fourth		Third		Second		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,723	$	1,633	$	1,650	$	1,587	$	1,527	$	90		$	196
Income producing commercial RE		1,342		1,297		1,282		1,277		1,101		45			241
Commercial & industrial		1,088		1,080		1,070		994		925		8			163
Commercial construction		587		667		634		567		565		(80	)		22
Total commercial		4,740		4,677		4,636		4,425		4,118		63			622
Residential mortgage		881		860		857		814		784		21			97
Home equity lines of credit		665		659		655		693		616		6			49
Residential construction		193		197		190		200		170		(4	)		23
Consumer installment		562		572		583		593		599		(10	)		(37	)
Total loans	$	7,041	$	6,965	$	6,921	$	6,725	$	6,287		76			754

LOANS BY MARKET
North Georgia	$	1,065	$	1,076	$	1,097	$	1,110	$	1,097		(11	)		(32	)
Atlanta MSA		1,445		1,408		1,399		1,332		1,314		37			131
North Carolina		541		541		545		548		543		-			(2	)
Coastal Georgia		623		591		581		565		541		32			82
Gainesville MSA		246		252		248		236		240		(6	)		6
East Tennessee		486		483		504		506		509		3			(23	)
South Carolina		1,260		1,243		1,233		1,199		862		17			398
Commercial Banking Solutions		926		911		855		763		706		15			220
Indirect auto		449		460		459		466		475		(11	)		(26	)
Total loans	$	7,041	$	6,965	$	6,921	$	6,725	$	6,287		76			754

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	Second Quarter 2017									First Quarter 2017									Fourth Quarter 2016
	Nonperforming			Foreclosed			Total			Nonperforming			Foreclosed			Total			Nonperforming			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs			Loans			Properties			NPAs			Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	5,248		$	580		$	5,828		$	6,135		$	1,238		$	7,373		$	7,373		$	3,145		$	10,518
Income producing CRE		2,587			-			2,587			1,540			21			1,561			1,324			36			1,360
Commercial & industrial		1,010			-			1,010			929			-			929			966			-			966
Commercial construction		2,530			611			3,141			1,069			2,825			3,894			1,538			2,977			4,515
Total commercial		11,375			1,191			12,566			9,673			4,084			13,757			11,201			6,158			17,359
Residential mortgage		7,886			457			8,343			6,455			660			7,115			6,368			1,260			7,628
Home equity lines of credit		2,152			201			2,353			1,848			261			2,109			1,831			531			2,362
Residential construction		287			890			1,177			417			55			472			776			-			776
Consumer installment		1,395			-			1,395			1,419			-			1,419			1,363			-			1,363
Total NPAs	$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872		$	21,539		$	7,949		$	29,488

NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,449		$	225		$	5,674		$	5,344		$	570		$	5,914		$	5,278		$	856		$	6,134
Atlanta MSA		906			423			1,329			715			645			1,360			1,259			716			1,975
North Carolina		4,700			472			5,172			4,897			355			5,252			4,750			632			5,382
Coastal Georgia		2,542			-			2,542			942			-			942			1,778			-			1,778
Gainesville MSA		622			-			622			728			-			728			279			-			279
East Tennessee		2,216			103			2,319			2,112			633			2,745			2,354			675			3,029
South Carolina		3,472			1,516			4,988			1,725			2,857			4,582			2,494			5,070			7,564
Commercial Banking Solutions		1,914			-			1,914			2,032			-			2,032			2,072			-			2,072
Indirect auto		1,274			-			1,274			1,317			-			1,317			1,275			-			1,275
Total NPAs	$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872		$	21,539		$	7,949		$	29,488

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	19,812		$	5,060		$	24,872		$	21,539		$	7,949		$	29,488		$	21,572		$	9,187		$	30,759
Acquisitions		-			-			-			-			-			-			-			-			-
Loans placed on non-accrual		8,110			-			8,110			3,172			-			3,172			6,346			-			6,346
Payments received		(2,955	)		-			(2,955	)		(3,046	)		-			(3,046	)		(3,832	)		-			(3,832	)
Loan charge-offs		(1,564	)		-			(1,564	)		(1,292	)		-			(1,292	)		(1,293	)		-			(1,293	)
Foreclosures		(308	)		481			173			(561	)		561			-			(1,254	)		1,530			276
Capitalized costs		-			-			-			-			-			-			-			26			26
Property sales		-			(2,704	)		(2,704	)		-			(3,077	)		(3,077	)		-			(2,737	)		(2,737	)
Write downs		-			(294	)		(294	)		-			(480	)		(480	)		-			(254	)		(254	)
Net gains (losses) on sales		-			196			196			-			107			107			-			197			197
Ending Balance	$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872		$	21,539		$	7,949		$	29,488

	Second Quarter 2017						First Quarter 2017						Fourth Quarter 2016
				Net Charge-						Net Charge-						Net Charge-
				Offs to						Offs to						Offs to
	Net			Average			Net			Average			Net			Average
(in thousands)	Charge-Offs			Loans ⁽¹⁾			Charge-Offs			Loans ⁽¹⁾			Charge-Offs			Loans ⁽¹⁾
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	37			.01	%	$	(212	)		(.05	)%	$	1			-	%
Income producing CRE		184			.06			870			.28			527			.16
Commercial & industrial		354			.13			(152	)		(.06	)		(201	)		(.08	)
Commercial construction		341			.22			(370	)		(.23	)		241			.16
Total commercial		916			.08			136			.01			568			.05
Residential mortgage		26			.01			530			.25			322			.15
Home equity lines of credit		253			.15			422			.26			151			.09
Residential construction		(53	)		(.11	)		(9	)		(.02	)		(16	)		(.03	)
Consumer installment		481			.34			600			.42			514			.35
Total	$	1,623			.09		$	1,679			.10		$	1,539			.09

NET CHARGE-OFFS BY MARKET
North Georgia	$	681			.26	%	$	15			.01	%	$	575			.21	%
Atlanta MSA		(10	)		-			(46	)		(.01	)		12			-
North Carolina		131			.10			601			.45			714			.52
Coastal Georgia		120			.08			(223	)		(.15	)		118			.08
Gainesville MSA		(54	)		(.09	)		358			.58			(32	)		(.05	)
East Tennessee		27			.02			55			.05			(139	)		(.11	)
South Carolina		526			.17			425			.14			(2	)		-
Commercial Banking Solutions		(17	)		(.01	)		195			.09			(21	)		(.01	)
Indirect auto		219			.19			299			.27			314			.27
Total	$	1,623			.09		$	1,679			.10		$	1,539			.09

⁽¹⁾ Annualized.

UNITED COMMUNITY BANKS, INC.

Consolidated Statement of Income (Unaudited)

	Three Months Ended					Six Months Ended
	June 30,					June 30,
(in thousands, except per share data)	2017		2016			2017		2016

Interest revenue:
Loans, including fees	$	74,825	$	63,472		$	147,552	$	127,448
Investment securities, including tax exempt of $357, $149, $636, and $315		17,778		16,833			35,490		32,621
Deposits in banks and short-term investments		563		777			1,082		1,734
Total interest revenue		93,166		81,082			184,124		161,803

Interest expense:
Deposits:
NOW		635		444			1,232		929
Money market		1,559		1,206			2,985		2,314
Savings		28		30			55		59
Time		1,379		743			2,387		1,385
Total deposit interest expense		3,601		2,423			6,659		4,687
Short-term borrowings		101		93			141		180
Federal Home Loan Bank advances		1,464		983			2,894		1,716
Long-term debt		2,852		2,665			5,728		5,350
Total interest expense		8,018		6,164			15,422		11,933
Net interest revenue		85,148		74,918			168,702		149,870
(Release of) provision for credit losses		800		(300	)		1,600		(500	)
Net interest revenue after provision for credit losses		84,348		75,218			167,102		150,370

Fee revenue:
Service charges and fees		10,701		10,515			21,305		20,641
Mortgage loan and other related fees		4,811		4,448			9,235		7,737
Brokerage fees		1,146		1,117			2,556		2,170
Gains from sales of government guaranteed loans		2,626		2,801			4,585		4,038
Securities gains, net		4		282			2		661
Other		4,397		4,334			8,076		6,856
Total fee revenue		23,685		23,497			45,759		42,103
Total revenue		108,033		98,715			212,861		192,473

Operating expenses:
Salaries and employee benefits		37,338		33,572			74,029		66,634
Communications and equipment		4,978		4,393			9,896		8,683
Occupancy		4,908		4,538			9,857		9,261
Advertising and public relations		1,260		1,323			2,321		2,187
Postage, printing and supplies		1,346		1,298			2,716		2,578
Professional fees		2,371		3,189			5,415		5,889
FDIC assessments and other regulatory charges		1,348		1,517			2,631		3,041
Amortization of intangibles		900		987			1,873		1,997
Merger-related and other charges		1,830		1,176			3,884		3,829
Other		6,950		6,067			13,433		11,846
Total operating expenses		63,229		58,060			126,055		115,945
Net income before income taxes		44,804		40,655			86,806		76,528
Income tax expense		16,537		15,389			35,015		28,967
Net income		28,267		25,266			51,791		47,561
Preferred stock dividends and discount accretion		-		-			-		21
Net income available to common shareholders	$	28,267	$	25,266		$	51,791	$	47,540

Earnings per common share:
Basic	$	.39	$	.35		$	.72	$	.66
Diluted		.39		.35			.72		.66
Weighted average common shares outstanding:
Basic		71,810		72,202			71,798		72,187
Diluted		71,820		72,207			71,809		72,191

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheet (Unaudited)

	June 30,			December 31,
(in thousands, except share and per share data)	2017			2016

ASSETS
Cash and due from banks	$	103,616		$	99,489
Interest-bearing deposits in banks		129,570			117,859
Cash and cash equivalents		233,186			217,348
Securities available for sale		2,474,592			2,432,438
Securities held to maturity (fair value $316,583 and $333,170)		312,002			329,843
Mortgage loans held for sale (includes $24,109 and $27,891 at fair value)		25,711			29,878
Loans, net of unearned income		7,040,932			6,920,636
Less allowance for loan losses		(59,500	)		(61,422	)
Loans, net		6,981,432			6,859,214
Premises and equipment, net		189,614			189,938
Bank owned life insurance		155,026			143,543
Accrued interest receivable		26,938			28,018
Net deferred tax asset		119,594			154,336
Derivative financial instruments		21,640			23,688
Goodwill and other intangible assets		154,350			156,222
Other assets		143,325			144,189
Total assets	$	10,837,410		$	10,708,655
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,818,668		$	2,637,004
NOW		1,874,850			1,989,763
Money market		1,808,736			1,846,440
Savings		581,706			549,713
Time		1,273,112			1,287,142
Brokered		378,663			327,496
Total deposits		8,735,735			8,637,558
Short-term borrowings		-			5,000
Federal Home Loan Bank advances		669,065			709,209
Long-term debt		175,363			175,078
Derivative financial instruments		24,260			27,648
Accrued expenses and other liabilities		100,346			78,427
Total liabilities		9,704,769			9,632,920
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized; 70,980,916 and 70,899,114 shares issued and outstanding		70,981			70,899
Common stock issuable; 550,449 and 519,874 shares		8,062			7,327
Capital surplus		1,277,822			1,275,849
Accumulated deficit		(212,607	)		(251,857	)
Accumulated other comprehensive loss		(11,617	)		(26,483	)
Total shareholders' equity		1,132,641			1,075,735
Total liabilities and shareholders' equity	$	10,837,410		$	10,708,655

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended June 30,

	2017								2016
	Average					Avg.			Average					Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) ⁽¹⁾⁽²⁾	$	6,979,980		$	74,811		4.30	%	$	6,150,654		$	63,485		4.15	%
Taxable securities ⁽³⁾		2,719,390			17,421		2.56			2,720,061			16,684		2.45
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		55,992			584		4.17			27,434			244		3.56
Federal funds sold and other interest-earning assets		143,143			743		2.08			138,622			912		2.63

Total interest-earning assets (FTE)		9,898,505			93,559		3.79			9,036,771			81,325		3.62
Non-interest-earning assets:
Allowance for loan losses		(61,163	)							(66,104	)
Cash and due from banks		104,812								94,920
Premises and equipment		192,906								182,609
Other assets ⁽³⁾		569,435								560,357
Total assets	$	10,704,495							$	9,808,553

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,901,890			635		.13		$	1,755,726			444		.10
Money market		2,064,143			1,559		.30			1,866,913			1,206		.26
Savings		575,960			28		.02			497,973			30		.02
Time		1,274,009			1,136		.36			1,205,066			675		.23
Brokered time deposits		111,983			243		.87			187,481			68		.15
Total interest-bearing deposits		5,927,985			3,601		.24			5,513,159			2,423		.18

Federal funds purchased and other borrowings		37,317			101		1.09			11,000			93		3.40
Federal Home Loan Bank advances		594,815			1,464		.99			589,246			983		.67
Long-term debt		175,281			2,852		6.53			164,020			2,665		6.53
Total borrowed funds		807,413			4,417		2.19			764,266			3,741		1.97

Total interest-bearing liabilities		6,735,398			8,018		.48			6,277,425			6,164		.39
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,731,217								2,383,894
Other liabilities		114,873								96,067
Total liabilities		9,581,488								8,757,386
Shareholders' equity		1,123,007								1,051,167
Total liabilities and shareholders' equity	$	10,704,495							$	9,808,553

Net interest revenue (FTE)				$	85,541							$	75,161
Net interest-rate spread (FTE)							3.31	%							3.23	%

Net interest margin (FTE) ⁽⁴⁾							3.47	%							3.35	%

⁽¹⁾

Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate used was 39%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

⁽²⁾

Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾

Securities available for sale are shown at amortized cost. Pretax unrealized gains of $6.58 million in 2017 and $12.3 million in 2016 are included in other assets for purposes of this presentation.

⁽⁴⁾

Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Six Months Ended June 30,

	2017								2016
	Average					Avg.			Average						Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest			Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) ⁽¹⁾⁽²⁾	$	6,942,130		$	147,552		4.29	%	$	6,077,111		$	127,529			4.22	%
Taxable securities ⁽³⁾		2,749,339			34,854		2.54			2,704,309			32,306			2.39
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		49,125			1,041		4.24			28,590			516			3.61
Federal funds sold and other interest-earning assets		144,577			1,407		1.95			146,192			1,965			2.69

Total interest-earning assets (FTE)		9,885,171			184,854		3.76			8,956,202			162,316			3.64
Non-interest-earning assets:
Allowance for loan losses		(61,414	)							(67,289	)
Cash and due from banks		102,048								90,278
Premises and equipment		191,509								181,350
Other assets ⁽³⁾		573,281								560,813
Total assets	$	10,690,595							$	9,721,354

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,930,624			1,232		.13		$	1,821,100			929			.10
Money market		2,064,792			2,985		.29			1,853,749			2,314			.25
Savings		568,339			55		.02			489,106			59			.02
Time		1,269,005			1,951		.31			1,232,378			1,492			.24
Brokered time deposits		105,199			436		.84			210,347			(107	)		(.10	)
Total interest-bearing deposits		5,937,959			6,659		.23			5,606,680			4,687			.17

Federal funds purchased and other borrowings		28,225			141		1.01			22,953			180			1.58
Federal Home Loan Bank advances		637,728			2,894		.92			467,708			1,716			.74
Long-term debt		175,212			5,728		6.59			164,720			5,350			6.53
Total borrowed funds		841,165			8,763		2.10			655,381			7,246			2.22

Total interest-bearing liabilities		6,779,124			15,422		.46			6,262,061			11,933			.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,687,665								2,315,468
Other liabilities		115,808								101,694
Total liabilities		9,582,597								8,679,223
Shareholders' equity		1,107,998								1,042,131
Total liabilities and shareholders' equity	$	10,690,595							$	9,721,354

Net interest revenue (FTE)				$	169,432							$	150,383
Net interest-rate spread (FTE)							3.30	%								3.26	%

Net interest margin (FTE) ⁽⁴⁾							3.46	%								3.38	%

⁽¹⁾

⁽²⁾

Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾

Securities available for sale are shown at amortized cost. Pretax unrealized gains of $638 thousand in 2017 and $7.28 million in 2016 are included in other assets for purposes of this presentation.

⁽⁴⁾

Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

Exhibit 99.2

2017 INVESTOR PRESENTATION SECOND QUARTER 2017 JULY 26, 2017

ucbi.com | 2 Disclosures CAUTIONARY STATEMENT This investor presentation may contain forward - looking statements, as defined by federal securities laws, including statements about United and its financial outlook and business environment . These statements are based on current expectations and are provided to assist in the understanding of our operations and future financial performance . Our operations and such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements . For a discussion of some of the risks and other factors that may cause such forward - looking statements to differ materially from actual results, please refer to United Community Banks, Inc . ’s filings with the Securities and Exchange Commission, including its 2016 Annual Report on Form 10 - K under the section entitled “Forward - Looking Statements . ” Forward - looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward - looking statements . NON - GAAP MEASURES This presentation includes financial information determined by methods other than in accordance with generally accepted accounting principles (“GAAP”) . This financial information includes certain operating performance measures, which exclude merger - related and other charges that are not considered part of recurring operations . Such measures include : “Net income – operating ,” “ Net income available to common shareholders – operating,” “Earnings per share – operating,” “Diluted earnings per share – operating,” “Tangible book value per share,” “Return on common equity – operating,” “Return on tangible common equity – operating,” “Return on assets – operating,” “Efficiency ratio – operating,” “Expenses – operating,” “Tangible common equity to risk - weighted assets,” and “Average tangible equity to average assets . ” This presentation also includes “pre - tax, pre - credit earnings,” which excludes the provision for credit losses, income taxes and merger - related and other charges . Management has included these non - GAAP measures because we believe they may provide useful supplemental information for evaluating our underlying performance trends . Further, management uses these measures in managing and evaluating our business and intends to refer to them in discussions about our operations and performance . Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non - GAAP measures that may be presented by other companies . To the extent applicable, reconciliations of these non - GAAP measures to the most directly comparable GAAP measures can be found in the ‘Non - GAAP Reconciliation Tables’ included in the exhibits to this presentation . ucbi.com | 2

ucbi.com | 3 Snapshot of United Community Banks, Inc . ucbi.com | 3 Established: 1950 Four State Regional Community Bank: GA , NC, SC, TN Headquarters : Blairsville, GA Regional Headquarters: Greenville, SC Employees: 1,966 LOCATION LEGEND United Community Bank 134 locations (includes 7 Loan Production Offices) 4 Mortgage Loan Offices Four Oaks 14 locations ( includes 2 Loan Production Offices ) Horry 8 locations

ucbi.com | 4 United Foundation The Bank that SERVICE Built ® ucbi.com | 4

Second Quarter 2017 Highlights ucbi.com | 5 $23.5 $26.4 $25.2 $22.1 $23.7 $16 $20 $24 $28 $32 2Q16 3Q16 4Q16 1Q17 2Q17 Fee Revenue in millions 9.54% 9.61% 9.89% 8.54% 9.98% 11.56% 12.45% 12.47% 12.10% 12.19% 5.00% 7.00% 9.00% 11.00% 13.00% 2Q16 3Q16 4Q16 1Q17 2Q17 Return on (Tangible) Common Equity ROCE - GAAP ROTCE - Operating (1) $74.9 $79.0 $80.9 $83.6 $85.1 $70 $75 $80 $85 $90 2Q16 3Q16 4Q16 1Q17 2Q17 Net Interest Revenue in millions $0.35 $0.36 $0.38 $0.33 $0.39 $0.36 $0.39 $0.40 $0.39 $0.41 $0.26 $0.30 $0.34 $0.38 $0.42 2Q16 3Q16 4Q16 1Q17 2Q17 Earnings Per Share GAAP Operating (1) 1.04% 1.00% 1.03% .89% 1.06% 1.07% 1.08% 1.10% 1.07% 1.10% 0.75% 0.85% 0.95% 1.05% 1.15% 2Q16 3Q16 4Q16 1Q17 2Q17 Return on Assets GAAP Operating (1) 3.35% 3.34% 3.34% 3.45% 3.47% 3.30% 3.35% 3.40% 3.45% 3.50% 2Q16 3Q16 4Q16 1Q17 2Q17 Net Interest Margin (fully taxable equivalent) 1.02% 0.94% 0.89% 0.87% 0.85% 0.80% 0.90% 1.00% 1.10% 1.20% 2Q16 3Q16 4Q16 1Q17 2Q17 Allowance as % of Total Loans 0.28% 0.30% 0.28% 0.23% 0.24% 0.10% 0.20% 0.30% 0.40% 0.50% 2Q16 3Q16 4Q16 1Q17 2Q17 Non - Performing Assets as % of Total Assets 0.11% 0.08% 0.09% 0.10% 0.09% 0.00% 0.05% 0.10% 0.15% 0.20% 2Q16 3Q16 4Q16 1Q17 2Q17 Net Charge - Offs as % of Average Loans EARNINGS PROFITABILITY ASSET QUALITY (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures ucbi.com | 5 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures

(1) See non - GAAP reconciliation table slides at the end of the exhibits ( 2 ) Includes Tidelands as of the acquisition date of July 1, 2016 ucbi.com | 6 EARNINGS SUMMARY ($ in thousands) Net Income Available to Common Shareholders - GAAP 25,266$ 25,874$ 27,221$ 23,524$ 28,267$ 4,743$ 3,001$ Net Income Available to Common Shareholders - Operating (1) 25,997 27,833 28,906 28,220 29,422 1,202 3,425 Net Interest Revenue 74,918 78,989 80,925 83,554 85,148 1,594 10,230 Fee Revenue 23,497 26,361 25,233 22,074 23,685 1,611 188 Expenses - GAAP 58,060 64,023 61,321 62,826 63,229 403 5,169 Expenses - Operating (1) 56,884 60,871 60,180 60,772 61,399 627 4,515 PER SHARE DATA Diluted EPS - GAAP 0.35$ 0.36$ 0.38$ 0.33$ 0.39$ 0.06$ 0.04$ Diluted EPS - Operating (1) 0.36 0.39 0.40 0.39 0.41 0.02 0.05 Book Value per Share 14.80 15.12 15.06 15.40 15.83 0.43 1.03 Tangible Book Value per Share 12.84 13.00 12.95 13.30 13.74 0.44 0.90 KEY OPERATING PERFORMANCE MEASURES Return on Assets - GAAP 1.04 % 1.00 % 1.03 % 0.89 % 1.06 % 0.17 % 0.02 % Return on Assets - Operating (1) 1.07 1.08 1.10 1.07 1.10 0.03 0.03 Return on Common Equity - GAAP 9.54 9.61 9.89 8.54 9.98 1.44 0.44 Return on Tangible Common Equity - Operating (1) 11.56 12.45 12.47 12.10 12.19 0.09 0.63 Net Interest Margin (fully taxable equivalent) 3.35 3.34 3.34 3.45 3.47 0.02 0.12 Efficiency Ratio - GAAP 59.02 60.78 57.65 59.29 57.89 (1.40) (1.13) Efficiency Ratio - Operating (1) 57.82 57.79 56.58 57.35 56.21 (1.14) (1.61) ASSET QUALITY Allowance for Loan Losses to Loans 1.02 % 0.94 % 0.89 % 0.87 % 0.85 % (0.02) % (0.17) % NPAs to Loans and Foreclosed Properties 0.44 0.46 0.43 0.36 0.37 0.01 (0.07) NPAs to Total Assets 0.28 0.30 0.28 0.23 0.24 0.01 (0.04) AT PERIOD END ($ in millions) Loans 6,287$ 6,725$ 6,921$ 6,965$ 7,041$ 76$ 754$ Investment Securities 2,677 2,560 2,762 2,767 2,787 20 110 Total Assets 9,928 10,298 10,709 10,732 10,837 105 909 Deposits 7,857 8,442 8,638 8,752 8,736 (16) 879 (3) 4Q 2016 1Q17 2Q16 Variance - Incr / (Decr) 3Q2Q 1Q 2017 2Q Second Quarter 2017 Highlights ucbi.com | 6 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance measures (2) Includes Tidelands as of the acquisition date of July 1, 2016

ucbi.com | 7 Holding Company 2Q17 1Q17 4Q16 3Q16 2Q16 Tier I Risk - Based Capital 11.9% 11.5% 11.3% 11.0% 11.4% Total Risk - Based Capital 12.7 12.3 12.1 11.9 12.4 Leverage 9.0 8.6 8.5 8.4 8.5 Tier I Common Risk - Based Capital 11.9 11.4 11.3 11.0 11.4 Tangible Common Equity to Risk - Weighted Assets 12.4 12.1 11.9 12.2 12.9 Average Tangible Equity to Average Assets 9.2 9.0 9.0 9.0 9.4 ► All regulatory capital ratios significantly above “well - capitalized” ► Continued strong earnings and $74.2 million of future DTA recovery driving regulatory capital growth ► Paid second quarter shareholder dividend of $0.09 per share on July 5, 2017 to shareholders of record on June 15, 2017; Unchanged from the first quarter shareholder dividend of $0.09 per share and up from $0.08 per share in 4Q16 and $0.07 per share in 2Q16 ► Stock repurchases of $13.6 million through September 30, 2016 (764,000 shares / average price of $17.85 per share); No purchases since 3Q16 ► Tidelands acquisition completed on July 1, 2016; No shares issued ► Announced two acquisitions in 2Q17; Expect minimal impact on proforma capital ratios for 3Q17 and 4Q17 Capital Ratios Prudent Capital Management ucbi.com | 7

$74.9 $79.0 $80.9 $83.6 $85.1 $56.9 $60.9 $60.2 $60.8 $61.4 $41.5 $44.5 $46.0 $44.9 $47.4 $23.5 $26.4 $25.2 $22.1 $23.7 $10 $20 $30 $40 $50 $60 $70 $80 $90 2Q16 3Q16 4Q16 1Q17 2Q17 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue ucbi.com | 8 2Q17 1Q17 2Q16 Salaries & Employee Benefits 37,338$ 647$ 3,766$ Communications & Equipment 4,978 60 585 Occupancy 4,908 (41) 370 FDIC Assessment 1,348 65 (169) Advertising & Public Relations 1,260 199 (63) Postage, Printing & Supplies 1,346 (24) 48 Professional Fees 2,371 (673) (818) Other Expense 7,850 394 796 Expenses - Operating (1) 61,399 627 4,515 Merger-Related and Other Charges 1,830 (224) 654 Expenses - GAAP 63,229$ 403$ 5,169$ Variance - Incr/(Decr) 2Q17 1Q17 2Q16 Overdraft Fees 3,321$ (76)$ 24$ Interchange Fees 5,536 148 203 Other Service Charges 1,844 25 (41) Total Service Charges and Fees 10,701 97 186 Mortgage Loan & Related Fees 4,811 387 363 Brokerage Fees 1,146 (264) 29 Gains from SBA Loan Sales 2,626 667 (175) Securities Gains, Net 4 6 (278) Other 4,397 718 63 Fee Revenue 23,685$ 1,611$ 188$ Variance - Incr/(Decr) 2Q17 1Q17 2Q16 Net Interest Revenue 85,148$ 1,594$ 10,230$ Fee Revenue 23,685 1,611 188 Gross Revenue 108,833 3,205 10,418 Expenses - Operating (1) 61,399 627 4,515 Pre-Tax, Pre-Credit Earnings (1) 47,434 2,578 5,903 Provision for Credit Losses (800) - 1,100 Release of disproportionate tax effects lodged in OCI - (3,400) - Merger-Related and Other Charges (1,830) (224) 654 Income Taxes (16,537) 1,459 1,148 Net Income - GAAP 28,267$ 4,743$ 3,001$ Net Interest Margin 3.47 % 0.02 % 0.12 % Variance - Incr/(Decr) $ in t housands $ in thousands $ in thousands Expenses Earnings (pre - tax, pre - credit) Fee Revenue M illions (1 ) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures Increasing Profitability Earnings, Fee Revenue, and Expenses ucbi.com | 8 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures

$74.9 $79.0 $80.9 $83.6 $85.1 $40 $50 $60 $70 $80 $90 2Q16 3Q16 4Q16 1Q17 2Q17 4.15% 4.27% 4.30% 2.45% 2.51% 2.56% 0.18% 0.21% 0.24% 0% 1% 2% 3% 4% 5% 2Q16 3Q16 4Q16 1Q17 2Q17 0.23% 0.26% 0.36% 0.26% 0.28% 0.30% 0.10% 0.12% 0.13% .00% .10% .20% .30% .40% .50% 2Q16 3Q16 4Q16 1Q17 2Q17 3.35% 3.34% 3.34% 3.45% 3.47% 3.00% 3.25% 3.50% ucbi.com | 9 Key Drivers 2Q17 Impacted By NET INTEREST REVENUE ► Accelerated discount accretion on called asset - backed securities ► Benefit of loan growth and rising short - term interest rates Millions Loan / Securities / Deposit Yields Customer Deposit Pricing (2) Loan Yields (fully taxable equivalent) Investment Securities Yields - Taxable Average Rate on Interest Bearing Deposits (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Time MMDA NOW Increasing Profitability Net Interest Revenue / Margin (1) ucbi.com | 9 (1) Net interest margin is calculated on a fully - taxable equivalent basis (2) Excludes brokered deposits

ucbi.com | 10 2Q17 1Q17 2Q16 1Q17 2Q16 Commercial & Industrial 161.8$ 106.8$ 168.4$ 55.0$ (6.6)$ Owner-Occupied CRE 114.0 79.5 88.8 34.5 25.2 Income-Producing CRE 41.6 102.2 138.1 (60.6) (96.5) Commercial Constr. 121.8 116.3 49.0 5.5 72.8 Total Commercial 439.2 404.8 444.3 34.4 (5.1) Residential Mortgage 48.3 45.1 41.9 3.2 6.4 Residential HELOC 64.7 53.9 67.1 10.8 (2.4) Residential Construction 56.8 56.2 41.3 .6 15.5 Consumer 57.9 55.3 67.4 2.6 (9.5) Total 666.9$ 615.3$ 662.0$ 51.6$ 4.9$ Variance-Incr(Decr) NOTE - Certain prior period amounts have been reclassified to conform to the current presentation (1) Represents new loans funded and net loan advances (net of payments on lines of credit) New Loans Funded and Advances $662.0 $640.8 $747.3 $615.3 $666.9 $500 $600 $700 $800 2Q16 3Q16 4Q16 1Q17 2Q17 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 2Q17 1Q17 2Q16 1Q17 2Q16 Atlanta 122.5$ 112.6$ 141.6$ 9.9$ (19.1) Coastal Georgia 75.7 44.3 42.7 31.4 33.0 North Georgia 64.2 63.2 59.8 1.0 4.4 North Carolina 29.9 30.2 27.6 (.3) 2.3 Tennessee 40.2 19.7 45.8 20.5 (5.6) Gainesville 13.2 31.7 12.5 (18.5) 0.7 South Carolina 115.0 121.1 103.0 (6.1) 12.0 Total Community Banks 460.7 422.8 433.0 37.9 27.7 Asset-based Lending 17.6 19.7 10.8 (2.1) 6.8 Commercial RE 41.1 42.0 44.8 (0.9) (3.7) Senior Care 8.3 24.1 - (15.8) 8.3 Middle Market 35.4 14.0 56.7 21.4 (21.3) SBA 35.3 25.0 44.6 10.3 (9.3) Builder Finance 28.1 26.5 31.2 1.6 (3.1) 165.8 151.3 188.1 14.5 (22.3) Indirect Auto 40.4 41.2 40.9 (.8) (.5) Total 666.9$ 615.3$ 662.0$ 51.6$ 4.9$ Variance-Incr(Decr) Total Commercial Banking Solutions Generating Growth New Loans Funded and Advances (1) ucbi.com | 10 Note – Certain prior period amounts have been reclassified to conform to the current presentation (1) Represents new loans funded and net loan advances (net of payments on lines of credit) $ in millions

2013 2014 2015 2016 2Q17 North Georgia 1,240$ 1,163$ 1,125$ 1,097$ 1,065$ Atlanta MSA 1,235 1,243 1,259 1,399 1,445 North Carolina 572 553 549 545 541 Coastal Georgia 423 456 537 581 623 Gainesville MSA 255 257 254 248 246 East Tennessee (1) 280 280 504 504 486 South Carolina (2) 4 30 819 1,233 1,260 Total Community Banks 4,009 3,982 5,047 5,607 5,666 124 421 492 855 926 Indirect Auto (3) 196 269 456 459 449 Total Loans 4,329$ 4,672$ 5,995$ 6,921$ 7,041$ Commercial Banking Solutions $4.33 $4.67 $5.99 $6.92 $7.04 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 2013 2014 2015 2016 2Q17 Billions Commercial Construction Income-Producing Commercial Real Estate Owner-Occupied Commercial Real Estate Commercial & Industrial Indirect Auto Residential HELOC Residential Mortgage Residential Construction Consumer Commercial Retail 2013 2014 2015 2016 2Q17 Commercial & Industrial 471$ 710$ 785$ 1,070$ 1,088$ Owner-Occupied CRE 1,238 1,257 1,571 1,650 1,723 Income-Producing CRE 807 767 1,021 1,282 1,342 Commercial Constr. 336 364 518 634 587 Total Commercial 2,852 3,098 3,895 4,636 4,740 Residential Mortgage 604 614 764 857 881 Residential HELOC 430 456 589 655 665 Residential Construction 136 131 176 190 193 Consumer 111 104 115 124 113 Indirect Auto 196 269 456 459 449 Total Loans 4,329$ 4,672$ 5,995$ 6,921$ 7,041$ ucbi.com | 11 (1) Includes $244 million from the acquisition of FNB on May 1, 2015 (2) Includes $733 million and $306 million, respectively, from the acquisitions of Palmetto on September 1, 2015 and Tidelands on July 1, 2016 (3) Includes $63 million from the acquisition of Palmetto on September 1, 2015 Loans by Category i n millions Loans by Region i n millions NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Generating Growth Loan Mix ucbi.com | 11 Note – Certain prior period amounts have been reclassified to conform to the current presentation

2013 2014 2015 2016 2Q17 2013 2014 2015 2016 2Q17 Demand Deposit 123$ 161$ 618$ 334$ 239$ Non-Interest Bearing Core NOW 4 9 441 5 17 Demand Deposit 1,311$ 1,471$ 2,089$ 2,423$ 2,662$ MMDA 73 41 325 246 (44) Savings 24 41 177 79 31 Interest Bearing Core Growth by Category 224$ 252$ 1,561$ 664$ 243$ Total CommercialNOW 659 668 1,109 1,114 1,131 MMDA 1,218 1,259 1,584 1,830 1,786 Atlanta MSA 75$ 84$ 223$ 168$ 62$ Savings 250 292 469 548 579 North Georgia 62 90 158 133 60 Total Interest Bearing Core 2,127 2,219 3,162 3,492 3,496 North Carolina 42 35 63 62 43 Coastal Georgia 2 22 24 16 28 Total Core Trans Deposits 3,438 3,690 5,251 5,915 6,158 East Tennessee (1) 4 8 234 (16) 9 Gainesville MSA 19 10 34 48 18 Time (Customer) 1,445 1,223 1,251 1,267 1,245 South Carolina (2) 20 3 825 253 23 Public Funds (Customer) 894 989 1,032 1,128 954 Growth by Region 224$ 252$ 1,561$ 664$ 243$ Brokered 412 425 339 328 379 Total LoansTotal Deposits 6,189$ 6,327$ 7,873$ 8,638$ 8,736$ ucbi.com | 12 NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Generating Growth Deposit Mix $5.78 $5.90 $7.53 $8.31 $8.36 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 2013 2014 2015 2016 2Q17 Billions Public Funds (customer) Time (customer) Interest Bearing Core Transaction Non-Interest Bearing Core Transaction Time & Public Core Transaction Core Transaction Deposit Growth by Category & Region i n millions Deposits by Category i n millions (1) Includes $ 247 million from the acquisition of FNB on May 1, 2015 (2) Includes $790 million and $175 million, respectively, from the acquisition of Palmetto on September 1, 2015 and Tidelands on July 1, 2016 ucbi.com | 12

$ 2.02 $ 2.13 $3.16 $3.49 $3.50 $1.19 $1.47 $2.09 $2.42 $2.66 $3.44 $3.69 $5.25 $5.91 $6.16 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2013 2014 2015 2016 2Q17 Billions Non-Interest Bearing Core Transaction Interest Bearing Core Transaction ucbi.com | 13 High - Quality, Low - Cost Core Transaction Deposit Base 0.31% 0.18% 0.24% 0.00% 0.25% 0.50% 0.75% 1.00% 2013 2014 2015 2016 2Q17 Cost of Interest Bearing Deposits Generating Growth Deposit Mix ucbi.com | 13

Net Charge-offs 1.7$ 1.4$ 1.5$ 1.7$ 1.6$ as % of Average Loans 0.11 % 0.08 % 0.09 % 0.10 % 0.09 % Allowance for Loan Losses 64.3$ 63.0$ 61.4$ 60.5$ 59.5$ as % of Total Loans 1.02 % 0.94 % 0.89 % 0.87 % 0.85 % as % of NPLs 301 292 285 306 258 Past Due Loans (30 - 89 Days) 0.22 % 0.33 % 0.25 % 0.23 % 0.23 % Non-Performing Loans 21.3$ 21.6$ 21.5$ 19.8$ 23.1$ OREO 6.2 9.2 8.0 5.1 2.7 Total NPAs 27.5 30.8 29.5 24.9 25.8 Performing Classified Loans 118.5 121.6 114.3 108.8 91.7 Total Classified Assets 146.0$ 152.4$ 143.8$ 133.7$ 117.5$ as % of Tier 1 / Allowance 15 % 15 % 14 % 13 % 11 % Accruing TDRs 73.3$ 70.1$ 67.8$ 64.9$ 64.7$ Total NPAs as % of Total Assets 0.28 0.30 0.28 0.23 0.24 % as % of Loans & OREO 0.44 0.46 0.43 0.36 0.37 2Q16 3Q16 4Q16 1Q17 2Q17 $ in millions ucbi.com | 14 Protecting High - Quality Balance Sheet Credit Quality ucbi.com | 14

ucbi.com | 15 10.5 10.8 10.7 10.6 10.7 4.6 5.8 4.1 3.7 4.4 1.1 1.2 0.9 1.4 1.2 4.5 6.1 6.5 4.4 4.8 2.8 2.5 3.0 2.0 2.6 $23.5 $26.4 $25.2 $22.1 $23.7 $0 $5 $10 $15 $20 $25 $30 2Q16 3Q16 4Q16 1Q17 2Q17 Fee Revenue in millions Service Charges Other Brokerage Mortgage SBA $4.5 $6.1 $6.5 $4.4 $4.8 $0 $1 $2 $3 $4 $5 $6 $7 2Q16 3Q16 4Q16 1Q17 2Q17 Mortgage Fees and Production in millions $182 $194 $194 $151 $204 $- $50 $100 $150 $200 SBA ► 2Q17 Sales $30 million ► 1Q17 Sales $23 million ► 2Q16 Sales $33 million ► Target market: small businesses with revenue between $ 1 million and $ 25 million ► Two Channels • Footprint • National Verticals Mortgage ► Growth Strategy • Building on proven strengths in legacy markets of capturing business from a large percentage of United customers • Increase sales capacity in metro area growth markets • Compete favorably on product and service with banks and non - banks of all sizes $2.8 $2.5 $3.0 $2.0 $2.6 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 2Q16 3Q16 4Q16 1Q17 2Q17 SBA Fees (Gains ) and Production in millions $45 $37 $55 $25 $35 $- $10 $20 $30 $40 $50 $60 Mortgage Fees SBA Fees ----- SBA Production ----- Mortgage Production Increasing Profitability Driving Fee Revenue Through Core Banking Infrastructure ucbi.com | 15

ucbi.com | 16 ► Efficiency improvements are attributable to various expense reduction initiatives while maintaining high business growth ► Declining trend sustained while making substantial investments in growth and infrastructure 2012 2013 2014 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 TGT GAAP 65.4% 63.1% 58.3% 59.2% 61.6% 64.7% 69.0% 61.9% 59.0% 60.8% 57.7% 59.3% 57.9% Non-GAAP Adjustments 0.0% 0.0% 0.0% 0.0% 4.0% 6.8% 9.6% 2.8% 1.2% 3.0% 1.1% 2.0% 1.7% Operating 65.4% 63.1% 58.3% 59.2% 57.6% 57.8% 59.4% 59.1% 57.8% 57.8% 56.6% 57.3% 56.2% 56.0% 50.0% 55.0% 60.0% 65.0% 70.0% Efficiency Ratio (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures Increasing Profitability Expense Discipline ucbi.com | 16 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures

Transaction Overview • 90% stock (0.6178 shares of United) and 10% cash ($1.90) - $ 124 million transaction value (1) • 177% P / TBV • An excellent springboard to grow and attract top - quality bankers in the Raleigh market Company Snapshot • Assets: $737 million • Loans: $513 million • Deposits: $560 million • NIM: 3.92% • Offices: 14 Compelling Financial Returns Acquisition of Four Oaks Fincorp , Inc . Source: SNL Financial (1) Based on United’s closing price of $26.48 per share on June 23, 2017 ucbi.com | 17 x 4 cents, or 2%, accretive to fully diluted 2018 EPS, excluding one - time merger charges x Less than 1% dilutive to tangible book value per share with an earn back of less than 3 years, excluding expected revenue synergies x IRR: +20% x 105 - year - old community bank located in the attractive Raleigh MSA, North Carolina’s fastest - growing market x Locally focused franchise ranked #2 among local community banks in Raleigh MSA deposit market share x 10 branches and 2 LPOs in Raleigh MSA and a branch in Dunn and Wallace, NC x Stable, low - cost funds to support strong balance sheet growth Four Oaks Four Oaks LPO United

19.3% 8.1% 7.8% HCSB UCBI South Carolina Rank Bank Branches Deposits ($MM) Mkt. Share (%) 1. BB&T 27 1,829 24.1 2. CNB Corp. 14 813 10.7 3. Wells Fargo 10 704 9.3 4. Bank of America 9 601 7.9 5. UCBI Pro Forma 10 452 5.9 Strong Demographics Myrtle Beach is the fastest growing MSA in the state Compelling Financial Returns x 3 cents, or 2%, accretive to fully diluted EPS , excluding one - time merger charges x Neutral to tangible book value per share x Neutral to Tier 1 Capital x IRR: +20% Transaction Overview • 100% stock, fixed exchange ratio 0.0050x shares − $66 million transaction value (1) • 142% adjusted P / TBV (2) • United plans to recover DTA and related tax benefits totaling approximately $11 million Company Snapshot • Assets: $376 million • Loans: $215 million • Deposits: $313 million • Equity: $35 million • Branches: 8 Proj. Pop. Growth ’17 - ’22 Top 5 Deposit Market Share in Myrtle Beach MSA 95 26 20 74 40 Charleston North Charleston Mount Pleasant Summerville Myrtle Beach Florence 95 Sumter Wilmington HCSB Branches UCBI Branches x Enhances franchise footprint in attractive Myrtle Beach market with #5 deposit market share rank x Partnering with a well - established community bank located in South Carolina’s fastest growing market x Strategically and financially attractive combination Acquisition of HCSB Financial Corporation Source: SNL Financial (1) Based on United’s closing price of $26.70 per share on April 19, 2017 (2) Tangible book value adjusted for recovery of deferred tax asset ucbi.com | 18

2017 INVESTOR PRESENTATION Exhibits SECOND QUARTER 2017 JULY 26, 2017

ucbi.com | 20 Protecting High - Quality Balance Sheet ► Underwriting conservatism and portfolio diversification ► Top quartile credit quality performance ► Prudent capital, liquidity and interest - rate risk management ► Focused on improving return to shareholders with increasing return on tangible common equity and dividend growth Increasing Profitability ► Managing a steady margin with minimal accretion income ► Fee revenue expansion through focused growth initiatives ► Continued operating expense discipline while investing in growth opportunities ► Executing on M&A cost savings ► High - quality, low - cost core deposit base Generating Growth ► Entered into and continue to target new markets with team lift - outs (Charleston, Greenville, Atlanta, Raleigh) ► Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth ► Addition of Commercial Banking Solutions platforms (income - property, asset - based, middle - market, SBA, senior care, builder finance) and actively pursuing additional lending platforms ► Acquisitions that fit our footprint and culture and deliver desired financial returns United Community Banks, Inc . Who We Are ucbi.com | 20

ucbi.com | 21 Granular Portfolio – Exposure and Industry Limits • Legal Lending Limit $ 269M • House Lending Limit 28M • Project Lending Limit 17M • Top 25 Relationships 404M Concentration limits set for all segments of the portfolio Protecting High - Quality Balance Sheet Disciplined Credit Processes ucbi.com | 21 STRUCTURE • Centralized underwriting and approval process for consumer credit • Distributed Regional Credit Officers (reporting to Credit) for commercial • Dedicated Special Assets team • Eight of the top twelve credit leaders recruited post - crisis PROCESS • Weekly Senior Credit Committee • Continuous external loan review • Monthly commercial asset quality review • Monthly retail asset quality review meetings POLICY • Continuous review and enhancements to credit policy • Quarterly reviews of portfolio limits and concentrations

ucbi.com | 22 11% 19% 28% 3% 8% 24% 7% $7.0 Billion Loan Portfolio as of 6/30/2017 Commercial (C&I) CRE Income Producing CRE Owner-Occupied Residential Construction Commercial Construction Residential Mortgage & HELOC Installment ► Commercial Banking Solutions, which began in 2013, had loans totaling $926 million at June 30, 2017 (13% of the loan portfolio). NOTE – Certain prior period amounts have been reclassified to conform to the current presentation Protecting High - Quality Balance Sheet Loan Portfolio Diversification ucbi.com | 22

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Protecting High - Quality Balance Sheet ucbi.com | 23 0.0% 0.5% 1.0% 1.5% 2.0% CBSH BOH UMPQ WABC CVBF PB VLY UCBI OZRK CBU BPFH PNFP UMBF COLB MBFI ISBC CFR EWBC FFIN WTFC FNB WAL BKU PFS CATY WAFD FHN BXS STL FMBI SNV FCF SBNY STBA FULT WBS GBCI BRKL BOKF TCBI PACW TCF ONB TRMK UBSI ASB IBKC HBHC BPOP 1Q17 NPA Ratio Median ► Eight of the top twelve credit leaders recruited post - crisis ► Centralization of special assets ► Centralization of consumer loan underwriting and approval ► Changed commercial approval process, including a Senior Credit Committee for visibility and culture building ► Instituted highly - disciplined concentration management process ► Dedicated credit officers for all specialty businesses and community markets Protecting High - Quality Balance Sheet Excellent Credit Performance & Management ucbi.com | 23 Source: SNL Financial LC Note – Peer comparison banks comprise the KBW Regional Bank Index ( ticker:KRX )

ucbi.com | 24 By Category 2Q16 3Q16 4Q16 1Q17 2Q17 Commercial & Industrial 9$ 10$ 9$ 10$ 7$ Owner-Occupied CRE 38 42 42 41 34 Total Commercial & Industrial 47 52 51 51 41 Income-Producing CRE 35 32 29 24 23 Commercial Construction 6 9 9 9 5 Total Commercial 88 93 89 84 69 Residential Mortgage 20 18 15 15 13 Residential HELOC 6 5 5 6 6 Residential Construction 3 4 3 2 2 Consumer / Installment 2 2 2 2 2 Total Performing Classified 119$ 122$ 114$ 109$ 92$ Classified to Tier 1 + ALL 15% 15% 14% 13% 11% $119 $122 $114 $109 $92 $90 $110 $130 2Q16 3Q16 4Q16 1Q17 2Q17 NOTE - Certain prior period amounts have been reclassified to conform to the current presentation Protecting High - Quality Balance Sheet Performing Classified Loans ucbi.com | 24 Note – Certain prior period amounts have been reclassified to conform to the current presentation $ in millions

$73.3 $70.1 $67.8 $64.9 $64.7 $60 $70 $80 $90 2Q16 3Q16 4Q16 1Q17 2Q17 ucbi.com | 25 LOAN TYPE 2Q17(1) 1Q17 2Q16 2Q17(1) 1Q17 2Q16 2Q17(1) 1Q17 2Q16 Commercial & Industrial 1.2$ 1.3$ 2.1$ -$ -$ -$ 1.2$ 1.3$ 2.1$ Owner-Occupied CRE 23.2 23.9 26.2 0.4 0.6 1.5 23.6 24.5 27.7 Income-Producing CRE 21.8 21.6 23.9 0.3 0.1 0.1 22.1 21.7 24.0 Commercial Construction 4.0 4.1 5.1 1.0 0.8 0.2 5.0 4.9 5.3 Total Commercial 50.2 50.9 57.3 1.7 1.5 1.8 51.9 52.4 59.1 Residential Mortgage 11.7 11.6 13.5 1.9 1.9 1.1 13.6 13.5 14.6 Residential HELOC - 0.1 0.1 0.2 - - 0.2 0.1 0.1 Residential Construction 1.5 1.4 1.4 0.1 0.2 0.2 1.6 1.6 1.6 Consumer / Installment 1.3 0.9 1.0 0.3 0.4 0.2 1.6 1.3 1.2 Total TDRs 64.7$ 64.9$ 73.3$ 4.2$ 4.0$ 3.3$ 68.9$ 68.9$ 76.6$ Accruing Non-Accruing Total TDRs Accruing TDRs ► 2.3% of accruing TDRs are past due 30 – 89 days ► 71.5% of accruing TDRs are pass credits NOTE - Certain prior period amounts have been reclassified to conform to the current presentation (1) 87% of accruing TDR loans have an interest rate of 4% or greater Protecting High - Quality Balance Sheet TDRs ucbi.com | 25 Note – Certain prior period amounts have been reclassified to conform to the current presentation (1) 86% of accruing TDR loans have an interest rate of 4% or greater $ in millions

Protecting High - Quality Balance Sheet Commercial Real Estate Diversification ucbi.com | 26 Retail Building 148$ 14.4 % 106$ 18.1 % Assisted Living/Nursing Home/Rehab 169 16.4 18 3.1 Multi-Residential 95 9.2 65 11.1 Office Buildings 112 10.9 48 8.2 Commercial Residential CIP: Spec 81 7.9 55 9.4 Land Develop - Vacant (Improved) 61 5.9 47 8.0 Commercial Residential Land Development: Builder Lots 62 6.0 59 10.1 Hotels / Motels 61 5.9 17 2.9 Other Properties 48 4.7 34 5.8 Commercial Residential CIP: Presold 45 4.4 26 4.4 Raw Land - Vacant (Unimproved) 32 3.1 29 4.9 Commercial Residential Land Development: Subdivisions in 31 3.0 24 4.1 Warehouse 17 1.6 7 1.2 Churches 24 2.3 15 2.5 Commercial Residential Raw Land 17 1.7 16 2.7 Commercial Land Development 13 1.3 13 2.2 Restaurants / Franchise 11 1.1 6 1.0 Leasehold Property 2 0.2 2 0.3 Total Commercial Construction 1,029$ 100.0 % 587$ 100.0 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Office Buildings 369$ 26.1 % 345$ 25.7 % Retail Building 291 20.6 277 20.7 Investor Residential 161 11.4 160 11.9 Warehouse 147 10.4 140 10.4 Hotels / Motels 137 9.7 128 9.5 Multi-Residential 96 6.8 92 6.9 Other Properties 88 6.2 77 5.7 Convenience Stores 43 3.0 41 3.1 Restaurants / Franchise Fast Food 32 2.2 31 2.3 Manufacturing Facility 25 1.8 24 1.8 Leasehold Property 9 0.6 9 0.7 Automotive Service 6 0.4 6 0.4 Daycare Facility 5 0.3 5 0.4 Mobile Home Parks 4 0.3 4 0.3 Automotive Dealership 3 0.2 3 0.2 Total Commercial Real Estate - Income Producing 1,416$ 100.0 % 1,342$ 100.0 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $331 • Commercial RE: • Composite CRE 416 • Owner - Occupied 402 • Income - Producing 435 Committed Average Loan Size (in thousands ) • Commercial Construction $578 • Commercial RE: • Composite CRE 438 • Owner - Occupied 425 • Income - Producing 456 ucbi.com | 26

ucbi.com | 27 Capacity 2Q17 1Q17 2Q16 vs 1Q17 vs 2Q16 WHOLESALE BORROWINGS Brokered Deposits (1) 1,084$ 379$ 364$ 412$ 15$ (33)$ FHLB 1,391 669 569 735 100 (66) Holding Company LOC 50 - - - - - Fed Funds 630 - - - - - Other Wholesale 1,468 - - - - - Total 4,623$ 1,048$ 933$ 1,147$ 115$ (99)$ LONG-TERM DEBT (par) / CASH - HOLDING COMPANY Senior Debt (2) 160$ 160$ 160$ -$ -$ Trust Preferred Securities 20 20 6 - 14 Total Long-Term Debt 180$ 180$ 166$ -$ 14$ Cash 82$ 86$ 62$ (4)$ 20$ LOANS / CUSTOMER DEPOSITS Loans 7,041$ 6,965$ 6,287$ 76$ 754$ Core (DDA, MMDA, Savings) 6,158$ 6,104$ 5,423$ 54$ 735$ Public Funds 954 1,043 868 (89) 86 Time 1,245 1,241 1,154 4 91 Total Customer Deposits (excl Brokered) 8,357$ 8,388$ 7,445$ (31)$ 912$ INVESTMENT SECURITIES Available for Sale -Fixed 2,020$ 1,832$ 1,714$ 188$ 306$ -Floating 455 605 622 (150) (167) Held to Maturity -Fixed 310 328 338 (18) (28) -Floating 2 2 4 - (2) Total Investment Securities 2,787$ 2,767$ 2,678$ 20$ 109$ 18% 25% 27% Floating as % of Total Securities 16% 22% 23% Floating AFS Securities as % of Total AFS Securities (1) Estimated brokered deposit total capacity at 10% of assets Protecting High - Quality Balance Sheet Liquidity ucbi.com | 27 (1) Estimated brokered deposit total capacity at 10% of assets $ in millions (2) $40 million 6% Senior Notes scheduled to be called August 14, 2017 and $35 million 9% Senior Notes scheduled to mature on Oct obe r 15, 2017

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) ucbi.com | 28 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% CFR COLB WABC CVBF CBU BOH FFIN FMBI CBSH UCBI FCF UMBF TRMK ONB BOKF UMPQ PACW MBFI WAL BXS PB GBCI HBHC WBS PFS SNV FNB FHN BPFH WTFC TCBI ASB UBSI FULT EWBC TCF PNFP IBKC STL STBA FFBC BPOP SBNY BRKL VLY WAFD OZRK CATY HOPE ISBC BKU 1Q17 Cost of Deposits Median ► Our first quarter 2017 total cost of deposits was 14 basis points, which compared favorably to peers with a median of 27 basis points ► Core deposits (excludes Jumbo CDs / Brokered) comprised approximately 98% of our total customer deposits at March 31, 2017 Increasing Profitability High - Quality, Low - Cost Core Deposit Base ucbi.com | 28 Source: SNL Financial LC Note – Peer comparison banks comprise the KBW Regional Bank Index ( ticker:KRX )

Generating Growth Steady Loan Growth ucbi.com | 29 $4.51 $4.96 $6.61 $1.04 $0.31 $0.16 $4.33 $4.67 $6.00 $6.92 $7.04 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 2013 2014 2015 2016 2Q17 Millions Total Loans in billions Organic Acquired Healthcare (sold 4Q15) ucbi.com | 29

ucbi.com | 30 (1) (2) (2) (2) (1) (1) North Georgia $ 6.5 $ 2.4 9 19 36% 1 Atlanta, Georgia 66.2 2.5 10 34 4 7 Gainesville, Georgia 3.2 0.4 1 5 11 4 Coastal Georgia 8.7 0.4 2 7 4 8 Western North Carolina 11.9 1.0 1 19 8 3 East Tennessee 17.4 0.6 2 11 3 6 Upstate South Carolina 23.2 1.1 4 25 5 7 Coastal South Carolina 20.8 0.3 1 7 2 14 Loan Production Offices - - - 7 Total Markets $ 157.9 $ 8.7 30 134 Banks Offices Rank Market Deposits United Deposits Deposit Share Generating Growth Market Share Growth Opportunities ucbi.com | 30 (1) FDIC deposit market share and rank as of June 30, 2016 for markets where United takes deposits (Source: FDIC) (2) Based on current quarter $ in billions

ucbi.com | 31 3.32% 4.38% 5.21% 6.10% 6.61% 6.69% 7.10% 8.20% 8.66% 9.80% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% Knoxville, TN Cleveland, TN Asheville, NC Greenville, SC Gainesville, GA Atlanta, GA Savannah, GA Raleigh, NC Charleston, SC Myrtle Beach, SC Key MSA Growth Markets Projected Change 2017 - 2022 3.77% 3.90% 5.00% 5.17% 5.75% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% United States Tennessee North Carolina Georgia South Carolina State Population Growth Projected Change 2017 – 2022 Generating Growth Market Share Demographics ucbi.com | 31 Source: SNL Financial

► M&A accelerates our growth strategy in new and existing markets and can be accomplished more efficiently than with a de novo plan ; we seek to pair M&A with organic growth opportunities, including adding teams of local bankers to quickly increase growth . ► We are interested in pursuing transactions in our target markets including : • Coastal South Carolina – Charleston, Myrtle Beach, Hilton Head ; • East Tennessee – Knoxville to Chattanooga and Cleveland ; • Atlanta – Northern region ; and • North Carolina – Western (Asheville area) to Eastern (Raleigh/Cary area) . ► While larger transformational deals are not out of the question, we have decided to focus on roll - up targets, as we believe there are more actionable opportunities with a shorter time to complete and less risk . ► We carefully evaluate and price potential acquisitions with specific financial return targets in mind, including : • Year one EPS accretion, not including transaction expenses ; • TBV dilution threshold in the low single digits and earnback within three years ; and • IRR of 20 %+. ucbi.com | 32 Generating Growth Mergers & Acquisitions Strategy ucbi.com | 32

ucbi.com | 33 INTERSTATE 26 INTERSTATE 95 Myrtle Beach Garden City Beach North Charleston Summerville Charleston Hilton Head Island Savannah Transaction Summary Headquarters Mt. Pleasant, SC Established 2003 Branches (7) Charleston (4) Myrtle Beach (2) Hilton Head (1) Assets ($MM) $451 Total Gross Loans ($MM) $306 Deposits ($MM) $402 NPAs / Assets (1) 4.40% • Closed on July 1, 2016 • Conversion completed on November 11, 2016 • $11.2 million aggregate transaction value; 100% cash consideration ‒ $2.2 million value to common, or $0.52 per common share ‒ $9.0 million to redeem TARP, which represents a 56% discount • Target cost savings: approximately $5.0 million (completed 4Q16) • Total credit mark: $17.8 million ‒ Loan mark of $15.4 million gross or 4.8% of gross loans ‒ OREO mark of $2.4 million or 24% of year - end 2015 balances ‒ Covers nonaccrual loans and OREO of $ 20.5 million • Estimated $0.09 to $0.10 EPS accretive in 2017 • Tangible book value dilution of approximately 1.5% with expected earn - back in just over two years • Anticipated internal rate of return in excess of 20% Transaction Rationale • Significantly accelerates UCBI’s Coastal South Carolina expansion and leverages existing lift - out team of experienced bankers and in - market resources, fully executing the two - step Coastal SC growth plan • Tidelands’ markets are in the top 10 fastest growing in the U.S • Significant cost synergies enhance already compelling deal economics • Consistent with UCBI’s Southeastern expansion strategy • Projected e arnings accretion offsets the estimated earnings reduction associated with crossing the $10 billion threshold • Integration risk is offset by merger experience / preparedness and local management already in place (1) NPAs / Assets = (Nonaccrual L oans + OREO) / Total A ssets Generating Growth 2016 Acquisition – Tidelands Bancshares, Inc. UCBI Tidelands ucbi.com | 33 Source: SNL Financial – Financial Metrics as of December 31, 2015 (1) NPAs / Assets = (Nonaccrual Loans + OREO) / Total Assets

UCBI MoneyTree • Closed on May 1 with successful operational conversion on July 18 - 19; business has remained stable • Added a $425 million, 107 year old community bank • Doubled UCBI’s East TN presence in key markets – Knoxville, Lenoir City and Cleveland • Consolidated six branches – three UCBI and three MoneyTree / FNB branches and now have 12 branches • Executed on cost savings, which exceeded original estimates due mainly to branch overlap and back office redundancies • Expect EPS accretion of 3% in 2017 • TBV dilution of <1% and breakeven in < 3 years • Closed on September 1 with successful operational conversion on February 21 - 22 • Added a $1.2 billion,109 year old community bank with 25 branches covering Upstate SC • United had previously established a regional headquarters in Greenville, including several members of Executive Management; however, only one existing branch • Retained Senior Management positions in Banking, Mortgage, Finance and Ops/IT for business continuity and to lead growth • Targeted cost savings fully realized in 2Q16 • Double - digit EPS accretion in 2017 with TBV earnback < 5 years and IRR > 20% UCBI Palmetto ucbi.com | 34 MoneyTree Corp./FNB The Palmetto Bank Generating Growth 2015 Acquisitions ucbi.com | 34

Jimmy C. Tallent Chairman & CEO Joined 1984 H. Lynn Harton Board, President & COO Joined 2012 Bill M. Gilbert President, Community Banking Joined 2000 Bradley J. Miller EVP, CRO & General Counsel Joined 2007 • Over 40 years in banking • Led company from $42 million in assets in 1989 to $10.8 billion today • Trustee of Young Harris College • Georgia Power Company Board Member • GA Economic Developers Association Spirit of Georgia Award recipient • Over 30 years in banking • Responsible for overall banking, credit and operations • Former Consultant and Special Assistant to the CEO and EVP of Commercial Banking for TD Bank Financial Group; and President & CEO of The South Financial Group • Over 25 years in financial services • Responsible for finance and reporting, accounting, M&A and investor relations • Former Associate Director of Research for Keefe, Bruyette and Woods • Georgia State’s J. Mack Robinson College of Business Advisory Board • Over 35 years in banking • Responsible for 30 community banks with 134 banking offices • Formerly of Riegel Textile Credit Union; President of Farmers and Merchants Bank • Former Georgia Board of Natural Resources Board Chairman • Over 20 years experience in consumer and banking law • Responsible for legal , enterprise r isk m anagement , and compliance • Chairman of the Georgia Bankers Association Bank Counsel Section • Member of the American Bankers Association Regional General Counsels Robert A. Edwards EVP & CCO Joined 2015 Richard W. Bradshaw President, Comm’l Banking Solutions Joined 2014 • Over 25 years in lending • Responsible commercial banking solutions • Former SBA head: TD Bank and Carolina First’s SBA programs; President of UPS Capital Business Credit • Highly decorated Commander in the U.S. Naval Reserve Intelligence Program (retired) • Over 25 years in banking • Responsible for credit risk including credit underwriting, policy and special assets • Former EVP & Executive Credit Officer for TD Bank, NA and Chief Credit Officer of The South Financial Group. ucbi.com | 35 Jefferson L. Harralson EVP & CFO Joined 2017 Experienced Proven Leadership ucbi.com | 35

2Q16 3Q16 4Q16 1Q17 2Q17 Net Income Net income - GAAP 25,266$ 25,874$ 27,221$ 23,524$ 28,267$ Merger-related and other charges 1,176 3,152 1,141 2,054 1,830 Tax benefit on merger-related and other charges (445) (1,193) (432) (758) (675) Impairment of deferred tax asset on canceled nonqualified stock options - - 976 - - Release of disproportionate tax effects lodged in OCI - - - 3,400 - Net income - Operating 25,997$ 27,833$ 28,906$ 28,220$ 29,422$ Diluted Earnings per share Diluted earnings per share - GAAP 0.35$ 0.36$ 0.38$ 0.33$ 0.39$ Merger-related and other charges 0.01 0.03 0.01 0.01 0.02 Impairment of deferred tax asset on canceled nonqualified stock options - - 0.01 - - Release of disproportionate tax effects lodged in OCI - - - 0.05 - Diluted earnings per share - Operating 0.36$ 0.39$ 0.40$ 0.39$ 0.41$ Return on Assets Return on assets - GAAP 1.04 % 1.00 % 1.03 % 0.89 % 1.06 % Merger-related and other charges 0.03 0.08 0.03 0.05 0.04 Impairment of deferred tax asset on canceled nonqualified stock options - - 0.04 - - Release of disproportionate tax effects lodged in OCI - - - 0.13 - Return on assets - Operating 1.07 % 1.08 % 1.10 % 1.07 % 1.10 % ucbi.com | 36 Non - GAAP Reconciliation Tables ucbi.com | 36 $ in thousands, except per share data

2Q16 3Q16 4Q16 1Q17 2Q17 Return on Tangible Common Equity Return on common equity - GAAP 9.54 % 9.61 % 9.89 % 8.54 % 9.98 % Effect of merger-related and other charges 0.27 0.73 0.26 0.47 0.41 Impairment of deferred tax asset on canceled nonqualified stock options - - 0.36 - - Release of disproportionate tax effects lodged in OCI - - - 1.24 - Return on common equity - Operating 9.81 10.34 10.51 10.25 10.39 Effect of goodwill and intangibles 1.75 2.11 1.96 1.85 1.80 Return on tangible common equity - Operating 11.56 % 12.45 % 12.47 % 12.10 % 12.19 % Expenses Expenses - GAAP 58,060$ 64,023$ 61,321$ 62,826$ 63,229$ Merger-related and other charges (1,176) (3,152) (1,141) (2,054) (1,830) Expenses - Operating 56,884$ 60,871$ 60,180$ 60,772$ 61,399$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 40,655$ 41,627$ 44,837$ 42,002$ 44,804$ Merger-related and other charges 1,176 3,152 1,141 2,054 1,830 Provision for credit losses (300) (300) - 800 800 Pre-Tax, Pre-Credit Earnings - Operating 41,531$ 44,479$ 45,978$ 44,856$ 47,434$ Efficiency Ratio Efficiency Ratio - GAAP 59.02 % 60.78 % 57.65 % 59.29 % 57.89 % Merger-related and other charges (1.20) (2.99) (1.07) (1.94) (1.68) Efficiency Ratio - Operating 57.82 % 57.79 % 56.58 % 57.35 % 56.21 % ucbi.com | 37 Non - GAAP Reconciliation Tables ucbi.com | 37 $ in thousands, except per share data