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):
October 25, 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 o

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. o

Item 2.02

Results of Operations and Financial Condition.

On October 25, 2017, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended September 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 October 25, 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 Third 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 October 25, 2017

99.2	Investor Presentation, Third 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: October 25, 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 THIRD QUARTER EARNINGS

Diluted earnings per share up six percent, to 38 cents, from third quarter 2016

Excluding merger-related and other non-operating charges,

diluted operating EPS up five percent, to 41 cents

●

Net interest revenue of $89.8 million, up $10.8 million or 14 percent from year ago

●

Net interest margin of 3.54 percent, up seven basis points from second quarter and up 20 basis points from year ago

●

Return on assets of 1.01 percent, or 1.09 percent excluding merger-related and other charges

●

Efficiency ratio of 59.3 percent, or 56.2 percent excluding merger-related and other charges

●

Completed the acquisition of Horry County State Bank during the quarter

BLAIRSVILLE, GA – October 25, 2017 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced strong third quarter results with meaningful margin expansion, disciplined expense management and sound credit quality. Net income was $27.9 million, or 38 cents per diluted share, compared with $25.9 million, or 36 cents per diluted share, for the third quarter of 2016.

On an operating basis, net income rose to $30.2 million for the third quarter of 2017 compared with $27.8 million for the third quarter of 2016. Third quarter 2017 operating net income excludes merger-related and other non-operating charges totaling $2.27 million, net of the associated income tax benefit. Third quarter 2016 operating net income excludes $1.96 million 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 third quarter of 2017 compared with 39 cents for the third quarter of 2016.

At September 30, 2017, preliminary regulatory capital ratios were as follows. Tier 1 Risk-Based of 12.3 percent; Total Risk-Based of 13.0 percent; Common Equity Tier 1 Risk-Based of 12.2 percent, and Tier 1 Leverage of 9.3 percent.

“Our third quarter results demonstrate United bankers’ ability to overcome challenges and produce solid financial results,” said Jimmy Tallent, chairman and chief executive officer. “In the third quarter, we became subject to the Durbin amendment of the Dodd Frank Wall Street Reform and Consumer Protection Act which places a cap on the amount banks can charge merchants for debit card interchange fees. We also became subject to the large bank deposit insurance assessment model. The combined effect of these two items reduced our pre-tax earnings by approximately $3.4 million, or three cents per share, in the third quarter. We had been actively preparing for this for two years and our bankers were able to completely offset the impact through a higher net interest margin and disciplined expense controls.

“Despite these challenges and excluding merger-related and other non-operating charges, our third quarter operating efficiency ratio held steady at 56.2 percent, our best in more than a decade,” Tallent stated. “Including merger and other non-operating charges, the efficiency ratio was 59.3 percent. Clearly our bankers delivered solid financial performance by every measure.”

Tallent continued, “We also completed the acquisition of Horry County State Bank on July 31^st, significantly enhancing our presence in the Myrtle Beach area along the South Carolina coast. The acquisition of Horry County State Bank, which is part of our larger, ongoing expansion strategy in the high-growth South Carolina coast will accelerate our growth in this attractive market. We are all set for systems conversions in mid-November at which time we expect to achieve all of our cost savings.

“We are scheduled to complete our acquisition of Four Oaks Bank & Trust Company on November 1^st which will extend our footprint farther east in North Carolina to the fast-growing Raleigh MSA. All regulatory and shareholder approvals for the transaction have been received. 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.

“Third quarter loan production was $617 million with $434 million originating from our community banks and $183 million from our Commercial Banking Solutions group,” Tallent added. “Linked-quarter loans were up $162 million, mostly reflecting the $216 million in net loans received through our acquisition of Horry County State Bank. Our indirect auto loan portfolio was down $48.7 million from second quarter reflecting our decision to suspend indirect auto loan purchases. Excluding the reduction in indirect auto loans and the loans acquired through the Horry acquisition, loan growth was essentially flat from second quarter.”

Third quarter net interest revenue totaled $89.8 million, up $10.8 million from the third quarter of 2016 and up $4.6 million from the second quarter. The increases from both periods reflect business growth and net interest margin expansions of 20 basis points from a year ago and seven basis points from the second quarter, mostly driven by rising short-term interest rates as well as the acquisition of Horry County State Bank which was completed on July 31, 2017. Horry County State Bank results are included in United’s financial results from the acquisition date.

The third quarter provision for credit losses was $1 million, up from $800,000 for the second quarter. This compares with a provision recovery of $300,000 in the third quarter of 2016. Third quarter net charge-offs totaled $1.6 million, equal to the second quarter of 2017 but up slightly from $1.4 million in the third quarter of 2016. Contributing to the low level of net charge-offs were continued strong recoveries of previously charged-off loans. Nonperforming assets were .23 percent of total assets at September 30, 2017, compared with .30 percent at September 30, 2016 and .24 percent at June 30, 2017.

“We continue to experience strong, steady credit quality and a low level of net charge-offs which is reflected in our low provision for loan losses,” Tallent commented. “Our credit quality indicators show no indication of credit deterioration 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.”

Third quarter fee revenue totaled $20.6 million, down $5.79 million from a year ago and down $3.11 million from the second quarter. The decrease from both prior periods was mostly due to lower debit card interchange fees as a result of the Durbin amendment becoming effective for United on July 1^st. The Durbin amendment, which places a cap on the amount of interchange banks can charge merchants for use of their debit cards, reduced United’s debit card interchange fees by approximately $2.7 million in the third quarter. Also contributing to the decrease from both prior periods were lower mortgage fees and lower customer derivative fees reflecting a less favorable interest rate environment.

Operating expenses were $65.7 million for the third quarter, compared with $64.0 million for the third quarter of 2016 and $63.2 million for the second quarter. Included in the third quarter’s operating expenses are $2.3 million in merger-related expenses and $1.1 million in surplus property impairment charges, totaling $3.4 million. We also had merger-related charges of $3.15 million in the third quarter of 2016, and merger-related and executive retirement charges totaling $1.83 million in the second quarter of 2017. Excluding these charges, third quarter operating expenses were $62.3 million compared with $61.4 million for the second quarter and $60.9 million a year ago. The $855,000 increase from the second quarter was mostly due to higher deposit insurance costs as a result of being assessed under the large bank deposit insurance assessment model effective July 1, and the operating expenses of Horry County State Bank acquired on July 31. These increases were partially offset by lower communications and equipment and advertising and public relations expense.

Tallent concluded, “Our bankers always meet every challenge with diligence and perseverance. That was certainly demonstrated with our third quarter financial results. Their passion and commitment drive our performance and ensure our success. Every day I become more encouraged about the opportunities that lie ahead knowing that our exceptional team of bankers will find success in everything they do. With Horry County State Bank and Four Oaks Bank & Trust Company, we have found two outstanding strategic partners in key growth markets that share our passion for banking and our commitment to customer service. I am excited about 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, October 25, 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 90798221. 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 $11.1 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 142 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. For the last four years, J.D. Power has 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

																Third			For the Nine
	2017									2016						Quarter			Months Ended						YTD
	Third			Second			First			Fourth			Third			2017-2016			September 30,						2017-2016
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2017			2016			Change
INCOME SUMMARY
Interest revenue	$	98,839		$	93,166		$	90,958		$	87,778		$	85,439					$	282,963		$	247,242
Interest expense		9,064			8,018			7,404			6,853			6,450						24,486			18,383
Net interest revenue		89,775			85,148			83,554			80,925			78,989			14	%		258,477			228,859			13	%
Provision for credit losses		1,000			800			800			-			(300	)					2,600			(800	)
Fee revenue		20,573			23,685			22,074			25,233			26,361			(22	)		66,332			68,464			(3	)
Total revenue		109,348			108,033			104,828			106,158			105,650			4			322,209			298,123			8
Expenses		65,674			63,229			62,826			61,321			64,023			3			191,729			179,968			7
Income before income tax expense		43,674			44,804			42,002			44,837			41,627			5			130,480			118,155			10
Income tax expense		15,728			16,537			18,478			17,616			15,753			-			50,743			44,720			13
Net income		27,946			28,267			23,524			27,221			25,874			8			79,737			73,435			9
Merger-related and other charges		3,420			1,830			2,054			1,141			3,152						7,304			6,981
Income tax benefit of merger-related and other charges		(1,147	)		(675	)		(758	)		(432	)		(1,193	)					(2,580	)		(2,642	)
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 ⁽¹⁾	$	30,219		$	29,422		$	28,220		$	28,906		$	27,833			9		$	87,861		$	77,774			13

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.38		$	.39		$	.33		$	.38		$	.36			6		$	1.10		$	1.02			8
Diluted net income - operating ⁽¹⁾		.41			.41			.39			.40			.39			5			1.21			1.08			12
Cash dividends declared		.10			.09			.09			.08			.08						.28			.22
Book value		16.50			15.83			15.40			15.06			15.12			9			16.50			15.12			9
Tangible book value ⁽³⁾		14.11			13.74			13.30			12.95			13.00			9			14.11			13.00			9

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		9.22	%		9.98	%		8.54	%		9.89	%		9.61	%					9.26	%		9.25	%
Return on common equity - operating ^(1)(2)(4)		9.97			10.39			10.25			10.51			10.34						10.20			9.79
Return on tangible common equity - operating ^(1)(2)(3)(4)		11.93			12.19			12.10			12.47			12.45						12.07			11.64
Return on assets - GAAP ⁽⁴⁾		1.01			1.06			.89			1.03			1.00						.99			.99
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.09			1.10			1.07			1.10			1.08						1.09			1.05
Dividend payout ratio - GAAP		26.32			23.08			27.27			21.05			22.22						25.45			21.57
Dividend payout ratio - operating ⁽¹⁾		24.39			21.95			23.08			20.00			20.51						23.14			20.37
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.54			3.47			3.45			3.34			3.34						3.49			3.36
Efficiency ratio - GAAP		59.27			57.89			59.29			57.65			60.78						58.81			60.56
Efficiency ratio - operating ⁽¹⁾		56.18			56.21			57.35			56.58			57.79						56.57			58.21
Average equity to average assets		10.86			10.49			10.24			10.35			10.38						10.54			10.60
Average tangible equity to average assets ⁽³⁾		9.45			9.23			8.96			9.04			8.98						9.21			9.27
Average tangible common equity to average assets ⁽³⁾		9.45			9.23			8.96			9.04			8.98						9.21			9.24
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		12.81			12.44			12.07			11.84			12.22						12.81			12.22

ASSET QUALITY
Nonperforming loans	$	22,921		$	23,095		$	19,812		$	21,539		$	21,572			6		$	22,921		$	21,572			6
Foreclosed properties		2,736			2,739			5,060			7,949			9,187			(70	)		2,736			9,187			(70	)
Total nonperforming assets (NPAs)		25,657			25,834			24,872			29,488			30,759			(17	)		25,657			30,759			(17	)
Allowance for loan losses		58,605			59,500			60,543			61,422			62,961			(7	)		58,605			62,961			(7	)
Net charge-offs		1,635			1,623			1,679			1,539			1,359			20			4,937			5,227			(6	)
Allowance for loan losses to loans		.81	%		.85	%		.87	%		.89	%		.94	%					.81	%		.94	%
Net charge-offs to average loans ⁽⁴⁾		.09			.09			.10			.09			.08						.09			.11
NPAs to loans and foreclosed properties		.36			.37			.36			.43			.46						.36			.46
NPAs to total assets		.23			.24			.23			.28			.30						.23			.30

AVERAGE BALANCES ($ in millions)
Loans	$	7,149		$	6,980		$	6,904		$	6,814		$	6,675			7		$	7,012		$	6,278			12
Investment securities		2,800			2,775			2,822			2,690			2,610			7			2,799			2,692			4
Earning assets		10,133			9,899			9,872			9,665			9,443			7			9,969			9,120			9
Total assets		10,980			10,704			10,677			10,484			10,281			7			10,788			9,909			9
Deposits		8,913			8,659			8,592			8,552			8,307			7			8,723			8,051			8
Shareholders’ equity		1,193			1,123			1,093			1,085			1,067			12			1,137			1,051			8
Common shares - basic (thousands)		73,151			71,810			71,700			71,641			71,556			2			72,060			71,992			-
Common shares - diluted (thousands)		73,162			71,820			71,708			71,648			71,561			2			72,071			71,996			-

AT PERIOD END ($ in millions)
Loans	$	7,203		$	7,041		$	6,965		$	6,921		$	6,725			7		$	7,203		$	6,725			7
Investment securities		2,847			2,787			2,767			2,762			2,560			11			2,847			2,560			11
Total assets		11,129			10,837			10,732			10,709			10,298			8			11,129			10,298			8
Deposits		9,127			8,736			8,752			8,638			8,442			8			9,127			8,442			8
Shareholders’ equity		1,221			1,133			1,102			1,076			1,079			13			1,221			1,079			13
Common shares outstanding (thousands)		73,403			70,981			70,973			70,899			70,861			4			73,403			70,861			4

⁽¹⁾

Excludes merger-related and other charges which includes amortization of certain executive change of control benefits, 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⁾

Third quarter 2017 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

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

Expense reconciliation
Expenses (GAAP)	$	65,674		$	63,229		$	62,826		$	61,321		$	64,023		$	191,729		$	179,968
Merger-related and other charges		(3,420	)		(1,830	)		(2,054	)		(1,141	)		(3,152	)		(7,304	)		(6,981	)
Expenses - operating	$	62,254		$	61,399		$	60,772		$	60,180		$	60,871		$	184,425		$	172,987

Net income reconciliation
Net income (GAAP)	$	27,946		$	28,267		$	23,524		$	27,221		$	25,874		$	79,737		$	73,435
Merger-related and other charges		3,420			1,830			2,054			1,141			3,152			7,304			6,981
Income tax benefit of merger-related and other charges		(1,147	)		(675	)		(758	)		(432	)		(1,193	)		(2,580	)		(2,642	)
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	$	30,219		$	29,422		$	28,220		$	28,906		$	27,833		$	87,861		$	77,774
Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.38		$	.39		$	.33		$	.38		$	.36		$	1.10		$	1.02
Merger-related and other charges		.03			.02			.01			.01			.03			.06			-
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		$	.41		$	.39		$	.40		$	.39		$	1.21		$	1.02

Book value per common share reconciliation
Book value per common share (GAAP)	$	16.50		$	15.83		$	15.40		$	15.06		$	15.12		$	16.50		$	15.12
Effect of goodwill and other intangibles		(2.39	)		(2.09	)		(2.10	)		(2.11	)		(2.12	)		(2.39	)		(2.12	)
Tangible book value per common share	$	14.11		$	13.74		$	13.30		$	12.95		$	13.00		$	14.11		$	13.00

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.22	%		9.98	%		8.54	%		9.89	%		9.61	%		9.26	%		9.25	%
Merger-related and other charges		.75			.41			.47			.26			.73			.55			.54
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			-			.36			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			1.24			-			-			.39			-
Return on common equity - operating		9.97			10.39			10.25			10.51			10.34			10.20			9.79
Effect of goodwill and other intangibles		1.96			1.80			1.85			1.96			2.11			1.87			1.85
Return on tangible common equity - operating		11.93	%		12.19	%		12.10	%		12.47	%		12.45	%		12.07	%		11.64	%

Return on assets reconciliation
Return on assets (GAAP)		1.01	%		1.06	%		.89	%		1.03	%		1.00	%		.99	%		.99	%
Merger-related and other charges		.08			.04			.05			.03			.08			.06			.06
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			-			.04			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			.13			-			-			.04			-
Return on assets - operating		1.09	%		1.10	%		1.07	%		1.10	%		1.08	%		1.09	%		1.05	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		26.32	%		23.08	%		27.27	%		21.05	%		22.22	%		25.45	%		21.57	%
Merger-related and other charges		(1.93	)		(1.13	)		(.98	)		(.54	)		(1.71	)		(1.31	)		(1.20	)
Impairment of deferred tax asset on canceled non-qualified stock options		-			-			-			(.51	)		-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			(3.21	)		-			-			(1.00	)		-
Dividend payout ratio - operating		24.39	%		21.95	%		23.08	%		20.00	%		20.51	%		23.14	%		20.37	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		59.27	%		57.89	%		59.29	%		57.65	%		60.78	%		58.81	%		60.56	%
Merger-related and other charges		(3.09	)		(1.68	)		(1.94	)		(1.07	)		(2.99	)		(2.24	)		(2.35	)
Efficiency ratio - operating		56.18	%		56.21	%		57.35	%		56.58	%		57.79	%		56.57	%		58.21	%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.86	%		10.49	%		10.24	%		10.35	%		10.38	%		10.54	%		10.60	%
Effect of goodwill and other intangibles		(1.41	)		(1.26	)		(1.28	)		(1.31	)		(1.40	)		(1.33	)		(1.33	)
Tangible equity to assets		9.45			9.23			8.96			9.04			8.98			9.21			9.27
Effect of preferred equity		-			-			-			-			-			-			(.03	)
Tangible common equity to assets		9.45	%		9.23	%		8.96	%		9.04	%		8.98	%		9.21	%		9.24	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		12.27	%		11.91	%		11.46	%		11.23	%		11.04	%		12.27	%		11.04	%
Effect of other comprehensive income		(.13	)		(.15	)		(.24	)		(.34	)		-			(.13	)		-
Effect of deferred tax limitation		.94			.95			1.13			1.26			1.50			.94			1.50
Effect of trust preferred		(.24	)		(.25	)		(.25	)		(.25	)		(.26	)		(.24	)		(.26	)
Basel III intangibles transition adjustment		(.03	)		(.02	)		(.03	)		(.06	)		(.06	)		(.03	)		(.06	)
Tangible common equity to risk-weighted assets		12.81	%		12.44	%		12.07	%		11.84	%		12.22	%		12.81	%		12.22	%

⁽¹⁾

Third quarter 2017 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2017						2016				Linked			Year over
	Third		Second		First		Fourth		Third		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,792	$	1,723	$	1,633	$	1,650	$	1,587	$	69		$	205
Income producing commercial RE		1,413		1,342		1,297		1,282		1,277		71			136
Commercial & industrial		1,084		1,088		1,080		1,070		994		(4	)		90
Commercial construction		583		587		667		634		567		(4	)		16
Total commercial		4,872		4,740		4,677		4,636		4,425		132			447
Residential mortgage		933		881		860		857		814		52			119
Home equity lines of credit		689		665		659		655		693		24			(4	)
Residential construction		190		193		197		190		200		(3	)		(10	)
Consumer installment		519		562		572		583		593		(43	)		(74	)
Total loans	$	7,203	$	7,041	$	6,965	$	6,921	$	6,725		162			478

LOANS BY MARKET
North Georgia	$	1,047	$	1,065	$	1,076	$	1,097	$	1,110		(18	)		(63	)
Atlanta MSA		1,477		1,445		1,408		1,399		1,332		32			145
North Carolina		542		541		541		545		548		1			(6	)
Coastal Georgia		634		623		591		581		565		11			69
Gainesville MSA		242		246		252		248		236		(4	)		6
East Tennessee		471		486		483		504		506		(15	)		(35	)
South Carolina		1,470		1,260		1,243		1,233		1,199		210			271
Commercial Banking Solutions		920		926		911		855		763		(6	)		157
Indirect auto		400		449		460		459		466		(49	)		(66	)
Total loans	$	7,203	$	7,041	$	6,965	$	6,921	$	6,725		162			478

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	Third Quarter 2017									Second Quarter 2017									First Quarter 2017
	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	$	5,027		$	764		$	5,791		$	5,248		$	580		$	5,828		$	6,135		$	1,238		$	7,373
Income producing CRE		2,042			121			2,163			2,587			-			2,587			1,540			21			1,561
Commercial & industrial		2,378			-			2,378			1,010			-			1,010			929			-			929
Commercial construction		1,376			923			2,299			2,530			611			3,141			1,069			2,825			3,894
Total commercial		10,823			1,808			12,631			11,375			1,191			12,566			9,673			4,084			13,757
Residential mortgage		8,559			392			8,951			7,886			457			8,343			6,455			660			7,115
Home equity lines of credit		1,898			195			2,093			2,152			201			2,353			1,848			261			2,109
Residential construction		178			341			519			287			890			1,177			417			55			472
Consumer installment		1,463			-			1,463			1,395			-			1,395			1,419			-			1,419
Total NPAs	$	22,921		$	2,736		$	25,657		$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872

NONPERFORMING ASSETS BY MARKET
North Georgia	$	6,707		$	404		$	7,111		$	5,449		$	225		$	5,674		$	5,344		$	570		$	5,914
Atlanta MSA		1,098			338			1,436			906			423			1,329			715			645			1,360
North Carolina		4,376			318			4,694			4,700			472			5,172			4,897			355			5,252
Coastal Georgia		2,532			-			2,532			2,542			-			2,542			942			-			942
Gainesville MSA		763			-			763			622			-			622			728			-			728
East Tennessee		1,734			67			1,801			2,216			103			2,319			2,112			633			2,745
South Carolina		1,903			1,609			3,512			3,472			1,516			4,988			1,725			2,857			4,582
Commercial Banking Solutions		2,429			-			2,429			1,914			-			1,914			2,032			-			2,032
Indirect auto		1,379			-			1,379			1,274			-			1,274			1,317			-			1,317
Total NPAs	$	22,921		$	2,736		$	25,657		$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872		$	21,539		$	7,949		$	29,488
Acquisitions		20			805			825			-			-			-			-			-			-
Loans placed on non-accrual		7,964			-			7,964			8,110			-			8,110			3,172			-			3,172
Payments received		(5,192	)		-			(5,192	)		(2,955	)		-			(2,955	)		(3,046	)		-			(3,046	)
Loan charge-offs		(2,159	)		-			(2,159	)		(1,564	)		-			(1,564	)		(1,292	)		-			(1,292	)
Foreclosures		(807	)		683			(124	)		(308	)		481			173			(561	)		561			-
Property sales		-			(1,295	)		(1,295	)		-			(2,704	)		(2,704	)		-			(3,077	)		(3,077	)
Write downs		-			(236	)		(236	)		-			(294	)		(294	)		-			(480	)		(480	)
Net gains (losses) on sales		-			40			40			-			196			196			-			107			107
Ending Balance	$	22,921		$	2,736		$	25,657		$	23,095		$	2,739		$	25,834		$	19,812		$	5,060		$	24,872

	Third Quarter 2017						Second Quarter 2017						First Quarter 2017
				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	$	(44	)		(.01	)%	$	37			.01	%	$	(212	)		(.05	)%
Income producing CRE		1,159			.33			184			.06			870			.28
Commercial & industrial		(200	)		(.08	)		354			.13			(152	)		(.06	)
Commercial construction		(114	)		(.07	)		341			.22			(370	)		(.23	)
Total commercial		801			.07			916			.08			136			.01
Residential mortgage		313			.14			26			.01			530			.25
Home equity lines of credit		56			.03			253			.15			422			.26
Residential construction		36			.07			(53	)		(.11	)		(9	)		(.02	)
Consumer installment		429			.31			481			.34			600			.42
Total	$	1,635			.09		$	1,623			.09		$	1,679			.10

NET CHARGE-OFFS BY MARKET
North Georgia	$	516			.19	%	$	681			.26	%	$	15			.01	%
Atlanta MSA		150			.04			(10	)		-			(46	)		(.01	)
North Carolina		221			.16			131			.10			601			.45
Coastal Georgia		(39	)		(.02	)		120			.08			(223	)		(.15	)
Gainesville MSA		(50	)		(.08	)		(54	)		(.09	)		358			.58
East Tennessee		55			.05			27			.02			55			.05
South Carolina		528			.15			526			.17			425			.14
Commercial Banking Solutions		(7	)		-			(17	)		(.01	)		195			.09
Indirect auto		261			.24			219			.19			299			.27
Total	$	1,635			.09		$	1,623			.09		$	1,679			.10

⁽¹⁾

Annualized.

UNITED COMMUNITY BANKS, INC.
Consolidated Statement of Income (Unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands, except per share data)	2017		2016			2017		2016

Interest revenue:
Loans, including fees	$	80,264	$	69,440		$	227,816	$	196,888
Investment securities, including tax exempt of $671, $134, $1,307, and $449		17,875		15,418			53,365		48,039
Deposits in banks and short-term investments		700		581			1,782		2,315
Total interest revenue		98,839		85,439			282,963		247,242

Interest expense:
Deposits:
NOW		700		452			1,932		1,381
Money market		1,953		1,347			4,938		3,661
Savings		34		43			89		102
Time		1,870		667			4,257		2,052
Total deposit interest expense		4,557		2,509			11,216		7,196
Short-term borrowings		36		98			177		278
Federal Home Loan Bank advances		1,709		1,015			4,603		2,731
Long-term debt		2,762		2,828			8,490		8,178
Total interest expense		9,064		6,450			24,486		18,383
Net interest revenue		89,775		78,989			258,477		228,859
(Release of) provision for credit losses		1,000		(300	)		2,600		(800	)
Net interest revenue after provision for credit losses		88,775		79,289			255,877		229,659

Fee revenue:
Service charges and fees		8,220		10,819			29,525		31,460
Mortgage loan and other related fees		4,200		6,039			13,435		13,776
Brokerage fees		1,009		1,199			3,565		3,369
Gains from sales of SBA/USDA loans		2,806		2,479			7,391		6,517
Securities gains, net		188		261			190		922
Other		4,150		5,564			12,226		12,420
Total fee revenue		20,573		26,361			66,332		68,464
Total revenue		109,348		105,650			322,209		298,123

Operating expenses:
Salaries and employee benefits		38,027		36,478			112,056		103,112
Communications and equipment		4,547		4,919			14,443		13,602
Occupancy		4,945		5,132			14,802		14,393
Advertising and public relations		1,026		1,088			3,347		3,275
Postage, printing and supplies		1,411		1,451			4,127		4,029
Professional fees		2,976		3,160			8,391		9,049
FDIC assessments and other regulatory charges		2,127		1,412			4,758		4,453
Amortization of intangibles		1,212		1,119			3,085		3,116
Merger-related and other charges		3,176		3,152			7,060		6,981
Other		6,227		6,112			19,660		17,958
Total operating expenses		65,674		64,023			191,729		179,968
Net income before income taxes		43,674		41,627			130,480		118,155
Income tax expense		15,728		15,753			50,743		44,720
Net income	$	27,946	$	25,874		$	79,737	$	73,435

Net income available to common shareholders	$	27,719	$	25,874		$	79,078	$	73,414

Earnings per common share:
Basic	$	.38	$	.36		$	1.10	$	1.02
Diluted		.38		.36			1.10		1.02
Weighted average common shares outstanding:
Basic		73,151		71,556			72,060		71,992
Diluted		73,162		71,561			72,071		71,996

UNITED COMMUNITY BANKS, INC.
Consolidated Balance Sheet (Unaudited)

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

ASSETS
Cash and due from banks	$	98,396		$	99,489
Interest-bearing deposits in banks		148,449			117,859
Cash and cash equivalents		246,845			217,348
Securities available for sale		2,540,470			2,432,438
Securities held to maturity (fair value $310,446 and $333,170)		306,741			329,843
Mortgage loans held for sale (includes $30,093 and $27,891 at fair value)		30,292			29,878
Loans, net of unearned income		7,202,937			6,920,636
Less allowance for loan losses		(58,605	)		(61,422	)
Loans, net		7,144,332			6,859,214
Premises and equipment, net		193,915			189,938
Bank owned life insurance		167,680			143,543
Accrued interest receivable		29,573			28,018
Net deferred tax asset		128,731			154,336
Derivative financial instruments		20,972			23,688
Goodwill and other intangible assets		182,716			156,222
Other assets		136,760			144,189
Total assets	$	11,129,027		$	10,708,655
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,918,428		$	2,637,004
NOW		1,938,352			1,989,763
Money market		1,934,169			1,846,440
Savings		605,230			549,713
Time		1,363,949			1,287,142
Brokered		367,256			327,496
Total deposits		9,127,384			8,637,558
Short-term borrowings		16,005			5,000
Federal Home Loan Bank advances		494,484			709,209
Long-term debt		135,707			175,078
Derivative financial instruments		22,926			27,648
Accrued expenses and other liabilities		111,881			78,427
Total liabilities		9,908,387			9,632,920
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized;
73,403,453 and 70,899,114 shares issued and outstanding		73,403			70,899
Common stock issuable; 588,445 and 519,874 shares		8,703			7,327
Capital surplus		1,341,346			1,275,849
Accumulated deficit		(192,128	)		(251,857	)
Accumulated other comprehensive loss		(10,684	)		(26,483	)
Total shareholders' equity		1,220,640			1,075,735
Total liabilities and shareholders' equity	$	11,129,027		$	10,708,655

UNITED COMMUNITY BANKS, INC.
Average Consolidated Balance Sheets and Net Interest Analysis
For the Three Months Ended September 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⁾	$	7,149,348		$	80,301		4.46	%	$	6,675,328		$	69,427			4.14	%
Taxable securities ⁽³⁾		2,695,162			17,204		2.55			2,588,037			15,284			2.36
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		105,151			1,098		4.18			22,113			219			3.96
Federal funds sold and other interest-earning assets		183,170			883		1.93			157,972			754			1.91

Total interest-earning assets (FTE)		10,132,831			99,486		3.90			9,443,450			85,684			3.61
Non-interest-earning assets:
Allowance for loan losses		(60,098	)							(63,874	)
Cash and due from banks		103,477								100,775
Premises and equipment		203,579								198,234
Other assets ⁽³⁾		599,725								602,690
Total assets	$	10,979,514							$	10,281,275

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,863,160			700		.15		$	1,744,473			452			.10
Money market		2,170,148			1,953		.36			1,997,165			1,347			.27
Savings		593,823			34		.02			537,447			43			.03
Time		1,338,786			1,548		.46			1,375,706			833			.24
Brokered time deposits		109,811			322		1.16			162,255			(166	)		(.41	)
Total interest-bearing deposits		6,075,728			4,557		.30			5,817,046			2,509			.17

Federal funds purchased and other borrowings		11,313			36		1.26			42,234			98			.92
Federal Home Loan Bank advances		574,404			1,709		1.18			583,312			1,015			.69
Long-term debt		154,616			2,762		7.09			177,333			2,828			6.34
Total borrowed funds		740,333			4,507		2.42			802,879			3,941			1.95

Total interest-bearing liabilities		6,816,061			9,064		.53			6,619,925			6,450			.39
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,837,378								2,490,019
Other liabilities		133,212								103,859
Total liabilities		9,786,651								9,213,803
Shareholders' equity		1,192,863								1,067,472
Total liabilities and shareholders' equity	$	10,979,514							$	10,281,275

Net interest revenue (FTE)				$	90,422							$	79,234
Net interest-rate spread (FTE)							3.37	%								3.22	%

Net interest margin (FTE) ⁽⁴⁾							3.54	%								3.34	%

⁽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 $12.6 million in 2017 and $30.4 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 Nine Months Ended September 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⁾	$	7,011,962		$	227,853		4.34	%	$	6,277,972		$	196,956			4.19	%
Taxable securities ⁽³⁾		2,731,081			52,058		2.54			2,665,272			47,590			2.38
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		68,005			2,139		4.19			26,415			735			3.71
Federal funds sold and other interest-earning assets		157,582			2,290		1.94			150,146			2,719			2.41

Total interest-earning assets (FTE)		9,968,630			284,340		3.81			9,119,805			248,000			3.63
Non-interest-earning assets:
Allowance for loan losses		(60,971	)							(66,142	)
Cash and due from banks		102,529								93,802
Premises and equipment		195,576								187,019
Other assets ⁽³⁾		582,194								574,870
Total assets	$	10,787,958							$	9,909,354

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,907,889			1,932		.14		$	1,795,372			1,381			.10
Money market		2,100,296			4,938		.31			1,901,903			3,661			.26
Savings		576,927			89		.02			505,337			102			.03
Time		1,292,521			3,499		.36			1,280,503			2,325			.24
Brokered time deposits		106,753			758		.95			194,199			(273	)		(.19	)
Total interest-bearing deposits		5,984,386			11,216		.25			5,677,314			7,196			.17

Federal funds purchased and other borrowings		22,525			177		1.05			29,427			278			1.26
Federal Home Loan Bank advances		616,388			4,603		1.00			506,524			2,731			.72
Long-term debt		168,271			8,490		6.75			168,955			8,178			6.47
Total borrowed funds		807,184			13,270		2.20			704,906			11,187			2.12

Total interest-bearing liabilities		6,791,570			24,486		.48			6,382,220			18,383			.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,738,118								2,374,076
Other liabilities		121,672								102,421
Total liabilities		9,651,360								8,858,717
Shareholders' equity		1,136,598								1,050,637
Total liabilities and shareholders' equity	$	10,787,958							$	9,909,354

Net interest revenue (FTE)				$	259,854							$	229,617
Net interest-rate spread (FTE)							3.33	%								3.25	%

Net interest margin (FTE) ⁽⁴⁾							3.49	%								3.36	%

⁽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 $4.67 million in 2017 and $15.1 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 THIRD QUARTER 2017 OCTOBER 25, 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

3Q17 Overview Ticker UCBI (NASDAQ) Market Cap $2.1Bn P/E (2017E) 17.6x P/ TBV 207% Assets $11.1Bn Loans $7.2Bn Deposits $9.1Bn CET1 12.2% NPAs / Assets 0.23% ROA – GAAP 1.01% ROA – Operating (2) 1.09% ROCE – GAAP 9.22% ROTCE – Operating (2) 11.93% • Established in 1950 and headquartered in Blairsville, GA with an executive office in Greenville, SC x 2,059 employees • One of the largest regional banks in the U.S. by assets with 147 branch locations, 9 loan production offices and 4 mortgage loan offices in four states: GA, NC, SC and TN (1) x Top 10 market share in GA and SC • Metro - focused branch network with locations in fast growing areas x Over 80% of branches located in metro areas Premier Southeast Regional Bank 10 75 185 16 95 20 77 85 81 40 85 26 United Community Bank (1) 147 locations 9 Loan Production Offices 4 Mortgage Loan Offices FLORIDA GEORGIA NORTH CAROLINA Knoxville Greenville SOUTH CAROLINA Charlotte Raleigh Asheville Myrtle Beach Charleston Savannah Blairsville Macon Columbia Gainesville Atlanta Who We Are Snapshot of United Community Banks, Inc. Market data as of October 20, 2017 (1) Includes Four Oaks acquisition expected to close during 4Q17 (2) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures ucbi.com | 3

Fastest Growing Southeast MSAs (1) 2018 - 2023 Proj . Population Growth 2018 Population 2023 Proj . Median Household Income 1. Myrtle Beach, SC 9.96% 470,010 $55,177 2. Cape Coral, FL 8.66% 740,553 $59,220 3. Charleston, SC 8.46% 785,518 $69,670 4. Orlando, FL 8.17% 2,518,915 $62,806 5. Raleigh, NC 8.08% 1,335,067 $76,237 6. Naples, FL 7.95% 374,242 $75,389 7. North Port, FL 7.54% 808,091 $66,409 8. Lakeland, FL 7.22% 683,670 $51,907 9. Charlotte, NC 7.22% 2,537,416 $65,758 10. Jacksonville, FL 6.89% 1,519,940 $65,428 16. Savannah, GA 6.60% 392,546 $61,718 18. Atlanta, GA 6.48% 5,919,767 $71,156 21. Greenville, SC 6.12% 901,549 $58,643 9.7% 8.9% ’18 – ’23 Proj . Household Income Growth 5.1% 3.5% ’18 – ’23 Proj . Population Growth Strong Demographic Profile (2) $54,241 $61,045 Median Household Income UCBI MSA Presence Who We Are Focused on High - Growth MSAs in Southeast (1) Includes MSAs with a population of greater than 300,000 (2) Weighted by state deposits ucbi.com | 4 United States United States United States

Cultural Pillars Customer Service Is at Our Foundation 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 ROTCE and dividend growth 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 Growth » Addition of Commercial Banking Solutions platforms (middle - market banking, SBA lending, senior care, income - property lending, asset - based lending, builder finance, renewable energy) and actively pursuing additional lending platforms » 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 » Acquisitions that fit our footprint and culture and deliver desired financial returns Who We Are Full - Service Regional Bank with a Strong Culture Rooted in Sound Credit Underwriting & Growth ucbi.com | 5

Regional Bank with Community Bank – Level Service Recognized for Ranked #1 in Retail Banking Customer Satisfaction in the Southeast by J.D. Power … Being a great place to work … H igh levels of financial performance Who We Are The Bank That Service Built ucbi.com | 6 Regional Bank 1 United Community Bank Regional Bank 2 Regional Bank 3 Regional Bank 4 Regional Bank 5 International Bank 1 Universal Bank 1 Regional Bank 6 Regional Average Regional Bank 7 Universal Bank 2 Universal Bank 3 Regional Bank 8

3Q17 Highlights ucbi.com | 7 $13.00 $13.74 $14.11 3Q16 2Q17 3Q17 Tangible Book Value (2) $0.36 $0.39 $0.38 $0.39 $0.41 $0.41 3Q16 2Q17 3Q17 Earnings Per Share GAAP Operating (1) 1.00% 1.06% 1.01% 1.08% 1.10% 1.09% 3Q16 2Q17 3Q17 Return on Assets GAAP Operating (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 ucbi.com | 7 (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) Excludes effect of acquisition - related intangibles and associated amortization $0.08 $0.09 $0.10 3Q16 2Q17 3Q17 Dividend per Share » Operating diluted earnings per share of $0.41 compared with GAAP diluted earnings per share of $0.38 » Impacted by Durbin related debit card revenue loss ($2.7 mm) and increased FDIC insurance costs resulting from exceeding the $10 billion asset threshold ($0.75 mm) » Raised dividend in 3Q17 to $0.10 per share, up 25% vs. 3Q16 » TBV p er share up 8.5% vs. 3Q16 » ROA stable at 1.09% despite Durbin and FDIC expense headwind

$79.0 $85.1 $89.8 3Q16 2Q17 3Q17 3.34% 3.47% 3.54% ucbi.com | 8 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Net Interest Revenue / Margin (1) ucbi.com | 8 (1) Net interest margin is calculated on a fully - taxable equivalent basis $ in millions Net Interest Revenue Net Interest Margin » Net interest revenue of $89.9 million increased $4.7 million (5.5%) vs. 2Q17 and $10.8 million (13.7%) vs. 3Q16 » Benefit of rising short - term interest rates » HCSB deal added $1.8 million to 3Q17 » Net interest margin up 20 bps vs. 3Q16 due to higher short - term rates and stable core deposit base. » Net interest margin up 7 bps vs. 2Q17 impacted by » Higher loan yield of 16 bps due to higher short - term interest rates » Accretable yield contributed $1.8 million or 7 bps to 3Q17, up 1 bp vs. 2Q17

0 10 20 30 40 79% 93% Low - Cost Deposit Base (1) Sufficient Liquidity to Support Future Growth Loans / Deposits (3) Cost of Total Deposits (bps) 31 bps 17 bps Deposits KRX Peer ucbi.com | 9 3Q15 - 2Q16 deposit beta equal to 6%, less than half the 15% industry average (2) KRX Peer Note – Peer comparison banks comprise the KBW Regional Bank Index ( ticker:KRX ) (1) Source: SNL Financial LC (2) Raymond James report 9/28/17 (3) United results as of 3Q17; KRX results as of 2Q17 (Source: SNL Financial LC)

ucbi.com | 10 $2.6 $2.8 $2.9 $1.3 $1.3 $1.4 $0.6 $0.6 $0.6 $1.7 $1.7 $1.8 $0.6 $0.6 $0.5 $6.7 $7.0 $7.2 3Q16 2Q17 3Q17 C&I (1) CRE Comml Construction Residential Other Consumer 25.4% 8.4% 19.0% 38.4% 19.1% 39.9% 8.3% 24.7% 8.0% 19.6% 39.9% 8.1% 25.2% 7.2% Loans ucbi.com | 10 $ in billions 8.8% » Strategically moved C&I (including owner - occupied CRE) to 40% of loans versus 38% a year ago and 23% pre crisis » Investor CRE loans moved to 20% from 19% last year and 47% pre crisis » Residential mortgages have increased due to the introduction of on balance sheet mortgage products » Other consumer has declined to a 7% contribution due to the planned runoff of the indirect auto portfolio (1) C&I includes commercial and industrial loans as well as owner - occupied CRE loans

ucbi.com | 11 Loan Growth Drivers ucbi.com | 11 » Greater expansion in our metro markets, including our new Myrtle B each and Raleigh markets » Expansion of our Commercial B anking S olutions (CBS) unit (i.e. deeper penetration and new verticals) » Continued development of our unique partnership model where the community bank partners with CBS to drive growth » Growth in the mortgage business via expansion into newly acquired markets and with the addition of on - balance sheet adjustable rate products

$10.8 $10.7 $8.2 $5.8 $4.4 $4.4 $1.2 $1.2 $1.0 $6.1 $4.8 $4.2 $2.5 $2.6 $2.8 3Q16 2Q17 3Q17 Service Charges Other Brokerage Mortgage SBA ucbi.com | 12 Fee Revenue ucbi.com | 12 in millions » Vs Last Year, fees down $5.8 mm to $20.6 mm » $2.7 mm lower interchange fees vs 3Q16 due to Durbin » Mortgage $1.9 mm lower vs. 3Q16 despite similar $194 mm in originations in both quarters » Loan sales totaled $118 mm in 3Q17 vs. $137 mm in 3Q16 which reduced revenue by $0.5 mm – as more loans were kept on balance sheet » SBA production up 16% vs. 3Q16 to $43 mm and revenue up 13% year over year » Other income down $1.4 mm vs last year due mainly to lower customer derivative income » Linked quarter, fees down $3.1 mm, of which Durbin accounted for $2.7 mm » Mortgage down $0.6 mm due to fewer originations ($194 mm vs a 2Q17 $204 mm record) and less loan sales ($118 mm vs $127 mm) » SBA originations up 23% vs 2Q17 due to seasonality $26.4 $23.7 $20.6

60.8% 57.9% 59.3% 57.8% 56.2% 56.2% 60.78% 57.89% 59.27% 57.79% 56.21% 56.18% $64.0 $63.2 $65.7 $60.9 $61.4 $62.3 3Q16 2Q17 3Q17 ucbi.com | 13 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Expense Discipline ucbi.com | 13 GAAP Operating (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 » Year over year, GAAP and operating expenses grew 2.6% and 2.3%, respectively » Operating efficiency ratio improved to 56.2% from 57.8% last year as expense focus continues » Linked quarter, GAAP and operating expenses grew 3.9% and 1.4%, respectively » Salary and benefits were flat excluding HCSB and improved in other expenses improved via several line items Operating Efficiency Ratio (1) $ in millions

Credit Quality ucbi.com | 14 (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 | 14 0.08% 0.09% 0.09% 3Q16 2Q17 3Q17 Net Charge - Offs as % of Average Loans 0.30% 0.24% 0.23% 3Q16 2Q17 3Q17 Non - Performing Assets as % of Total Assets - $0.3 $0.8 $1.0 3Q16 2Q17 3Q17 Provision for Credit Losses $ in millions 0.94% 0.85% 0.81% 3Q16 2Q17 3Q17 Allowance for Loan Losses

ucbi.com | 15 Key Strengths ucbi.com | 15 » Culture and business model that attracts both bankers and potential acquisition partners » Positioned well in many of the South's fastest - growing markets » Superior customer service helps drive great core deposit growth » Well - developed credit model to drive consistent performance through cycles » Liquid balance sheet and strong capital offer flexibility in a rising rate environment

ucbi.com | 16 Holding Company 3Q16 2Q17 3Q17 Tier I Risk - Based Capital 11.0% 11.9% 12.3% Total Risk - Based Capital 11.9 12.7 13.0 Leverage 8.4 9.0 9.3 Tier I Common Risk - Based Capital 11.0 11.9 12.2 Tangible Common Equity to Risk - Weighted Assets 12.2 12.4 12.8 Average Tangible Equity to Average Assets 9.0 9.2 9.4 ► All regulatory capital ratios significantly above “well - capitalized” ► Continued strong earnings and $76.4 million of future DTA recovery driving regulatory capital growth ► Increased quarterly shareholder dividend in 3Q17 to $0.10 per share (up 25% YoY ) ► Stock repurchases of $13.6 million through 3Q16 (764,000 shares / average price of $17.85 per share); No purchases since 3Q16 ► Capital impact of acquisitions ► HCSB acquisition completed on July 31, 2017; Slightly accretive to tangible book value in 3Q17 ► Four Oaks acquisition expected to close 4Q17; Expect minimal impact on capital ratios for 4Q17 ucbi.com | 16 Capital Ratios

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 Accretive to tangible book value per share x Neutral to Tier 1 Capital x IRR: +20% Transaction Overview • Closed July 31, 2017 • 100% stock (fixed exchange ratio 0.0050x shares) − $66 million transaction value (1) • 132% adjusted P / TBV (2) • United recovered DTA and related tax benefits totaling approximately $ 15.5 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 | 17

Transaction Overview • Scheduled to close November 1, 2017 • 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 | 18 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

2017 INVESTOR PRESENTATION Exhibits THIRD QUARTER 2017 OCTOBER 25, 2017

$79.0 $85.1 $89.8 $60.9 $61.4 $62.3 $44.5 $47.4 $48.1 $26.4 $23.7 $20.6 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 3Q16 2Q17 3Q17 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue ucbi.com | 20 3Q17 2Q17 3Q16 Salaries & Employee Benefits 38,027$ 689$ 1,549$ Communications & Equipment 4,547 (431) (372) Occupancy 4,945 37 (187) FDIC Assessment 2,127 779 715 Advertising & Public Relations 1,026 (234) (62) Postage, Printing & Supplies 1,411 65 (40) Professional Fees 2,976 605 (184) Other Expense 7,195 (655) (36) Expenses - Operating (1) 62,254 855 1,383 Merger-Related and Other Charges 3,420 1,590 268 Expenses - GAAP 65,674$ 2,445$ 1,651$ Variance - Incr/(Decr) 3Q17 2Q17 3Q16 Overdraft Fees 3,555$ 234$ (93)$ Interchange Fees 2,810 (2,726) (2,473) Other Service Charges 1,855 11 (33) Total Service Charges and Fees 8,220 (2,481) (2,599) Mortgage Loan & Related Fees 4,200 (611) (1,839) Brokerage Fees 1,009 (137) (190) Gains from SBA Loan Sales 2,806 180 327 Securities Gains, Net 188 184 (73) Other 4,150 (247) (1,414) Fee Revenue 20,573$ (3,112)$ (5,788)$ Variance - Incr/(Decr) 3Q17 2Q17 3Q16 Net Interest Revenue 89,775$ 4,627$ 10,786$ Fee Revenue 20,573 (3,112) (5,788) Gross Revenue 110,348 1,515 4,998 Expenses - Operating (1) 62,254 855 1,383 Pre-Tax, Pre-Credit Earnings (1) 48,094 660 3,615 Provision for Credit Losses (1,000) 200 1,300 Merger-Related and Other Charges (3,420) 1,590 268 Income Taxes (15,728) (809) (25) Net Income - GAAP 27,946$ (321)$ 2,072$ Net Interest Margin 3.54 % 0.07 % 0.20 % 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 Earnings , Fee Revenue, and Expenses ucbi.com | 20 (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

2013 2014 2015 2016 3Q17 2013 2014 2015 2016 3Q17 Demand Deposit 123$ 161$ 618$ 334$ 350$ Non-Interest Bearing Core NOW 4 9 441 5 52 Demand Deposit 1,311$ 1,471$ 2,089$ 2,423$ 2,773$ MMDA 73 41 325 246 82 Savings 24 41 177 79 55 Interest Bearing Core Growth by Category 224$ 252$ 1,561$ 664$ 539$ Total CommercialNOW 659 668 1,109 1,114 1,166 MMDA 1,218 1,259 1,584 1,830 1,912 Atlanta MSA 75$ 84$ 223$ 168$ 70$ Savings 250 292 469 548 603 North Georgia 62 90 158 133 96 Total Interest Bearing Core 2,127 2,219 3,162 3,492 3,681 North Carolina 42 35 63 62 59 Coastal Georgia 2 22 24 16 29 Total Core Trans Deposits 3,438 3,690 5,251 5,915 6,454 East Tennessee (1) 4 8 234 (16) 6 Gainesville MSA 19 10 34 48 17 Time (Customer) 1,445 1,223 1,251 1,267 1,335 South Carolina (2) 20 3 825 253 262 Public Funds (Customer) 894 989 1,032 1,128 971 Growth by Region 224$ 252$ 1,561$ 664$ 539$ Brokered 412 425 339 328 367 Total LoansTotal Deposits 6,189$ 6,327$ 7,873$ 8,638$ 9,127$ ucbi.com | 21 NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Deposit Mix $5.78 $5.90 $7.53 $8.31 $8.76 - $2.00 $4.00 $6.00 $8.00 $10.00 2013 2014 2015 2016 3Q17 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, $175 million and $226 million, respectively, from the acquisitions of Palmetto on September 1, 2015, Tidelands on July 1, 2016 and Horry County State Bank on July 31, 2017 ucbi.com | 21 Note – Column graph summarizes customer deposits, which excludes brokered deposits

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) ucbi.com | 22 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% CFR WABC COLB CVBF CBU FMBI FFIN BOH CBSH FCF UCBI ONB TRMK UMBF UMPQ BOKF GBCI WAL BXS MBFI PACW PB PFS WBS SNV BPFH FNB TCF FHN FULT WTFC HBHC EWBC UBSI TCBI ASB IBKC BPOP PNFP STL STBA BRKL WAFD SBNY FFBC VLY CATY OZRK ISBC HOPE BKU 2Q17 Cost of Deposits Median ► Our second quarter 2017 total cost of deposits was 17 basis points, which compared favorably to peers with a median of 31 basis points ► Core deposits (excludes Jumbo CDs / Brokered) comprised approximately 98% of our total customer deposits at June 30, 2017 High - Quality, Low - Cost Core Deposit Base ucbi.com | 22 Source: SNL Financial LC Note – Peer comparison banks comprise the KBW Regional Bank Index ( ticker:KRX )

ucbi.com | 23 3Q17 2Q17 3Q16 2Q17 3Q16 Commercial & Industrial 136.0$ 161.8$ 140.0$ (25.8)$ (4.0)$ Owner-Occupied CRE 72.2 114.0 92.8 (41.8) (20.6) Income-Producing CRE 80.1 41.6 148.0 38.5 (67.9) Commercial Constr. 139.1 121.8 45.7 17.3 93.4 Total Commercial 427.4 439.2 426.5 (11.8) .9 Residential Mortgage 54.7 48.3 39.8 6.4 14.9 Residential HELOC 68.1 64.7 66.4 3.4 1.7 Residential Construction 53.5 56.8 46.7 (3.3) 6.8 Consumer 13.1 57.9 61.4 (44.8) (48.3) Total 616.8$ 666.9$ 640.8$ (50.1)$ (24.0)$ 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 $640.8 $666.9 $616.8 3Q16 2Q17 3Q17 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 3Q17 2Q17 3Q16 2Q17 3Q16 Atlanta 151.5$ 122.5$ 110.6$ 29.0$ 40.9 Coastal Georgia 41.1 75.7 53.6 (34.6) (12.5) North Georgia 63.8 64.2 71.0 (.4) (7.2) North Carolina 34.8 29.9 35.4 4.9 (0.6) Tennessee 24.1 40.2 35.1 (16.1) (11.0) Gainesville 9.7 13.2 9.8 (3.5) (0.1) South Carolina 109.2 115.0 120.4 (5.8) (11.2) Total Community Banks 434.2 460.7 435.9 (26.5) (1.7) Asset-based Lending 8.4 17.6 9.7 (9.2) (1.3) Commercial RE 42.8 41.1 37.8 1.7 5.0 Senior Care 14.8 8.3 4.8 6.5 10.0 Middle Market 35.9 35.4 51.6 0.5 (15.7) SBA 43.4 35.3 37.0 8.1 6.4 Builder Finance 37.3 28.1 25.2 9.2 12.1 182.6 165.8 166.1 16.8 16.5 Indirect Auto - 40.4 38.8 (40.4) (38.8) Total 616.8$ 666.9$ 640.8$ (50.1)$ (24.0)$ Variance-Incr(Decr) Total Commercial Banking Solutions New Loans Funded and Advances (1) ucbi.com | 23 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 3Q17 North Georgia 1,240$ 1,163$ 1,125$ 1,097$ 1,047$ Atlanta MSA 1,235 1,243 1,259 1,399 1,477 North Carolina 572 553 549 545 542 Coastal Georgia 423 456 537 581 634 Gainesville MSA 255 257 254 248 242 East Tennessee (1) 280 280 504 504 470 South Carolina (2) 4 30 819 1,233 1,470 Total Community Banks 4,009 3,982 5,047 5,607 5,882 124 421 492 855 920 Indirect Auto (3) 196 269 456 459 401 Total Loans 4,329$ 4,672$ 5,995$ 6,921$ 7,203$ Commercial Banking Solutions 2013 2014 2015 2016 3Q17 Commercial & Industrial 471$ 710$ 785$ 1,070$ 1,084$ Owner-Occupied CRE 1,238 1,257 1,571 1,650 1,792 Income-Producing CRE 807 767 1,021 1,282 1,413 Commercial Constr. 336 364 518 634 583 Total Commercial 2,852 3,098 3,895 4,636 4,872 Residential Mortgage 604 614 764 857 933 Residential HELOC 430 456 589 655 689 Residential Construction 136 131 176 190 190 Consumer 111 104 115 124 118 Indirect Auto 196 269 456 459 401 Total Loans 4,329$ 4,672$ 5,995$ 6,921$ 7,203$ ucbi.com | 24 (1) Includes $244 million from the acquisition of FNB on May 1, 2015 (2) Includes $733 million, $306 million and $216 million, respectively, from the acquisitions of Palmetto on September 1, 2015, Tidelands on July 1, 2016 and Horry County State Bank on July 31, 2017 (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 Loan Mix ucbi.com | 24 Note – Certain prior period amounts have been reclassified to conform to the current presentation

Commercial Real Estate Diversification ucbi.com | 25 Retail Building 88$ 8.4 % 66$ 11.3 % Assisted Living/Nursing Home/Rehab 169 16.1 35 6.0 Multi-Residential 72 6.8 50 8.6 Office Buildings 108 10.3 41 7.0 Commercial Residential CIP: Spec 87 8.3 60 10.3 Land Develop - Vacant (Improved) 65 6.2 52 8.9 Commercial Residential Land Development: Builder Lots 68 6.5 62 10.6 Hotels / Motels 62 5.9 15 2.6 Other Properties 90 8.6 39 6.7 Commercial Residential CIP: Presold 59 5.6 36 6.2 Raw Land - Vacant (Unimproved) 50 4.8 41 7.0 Commercial Residential Land Development: Subdivisions in 35 3.3 25 4.3 Warehouse 32 3.0 9 1.5 Churches 25 2.4 18 3.1 Commercial Residential Raw Land 16 1.5 16 2.8 Commercial Land Development 13 1.2 11 1.9 Restaurants / Franchise 12 1.1 7 1.2 Leasehold Property - - - - Total Commercial Construction 1,051$ 100.0 % 583$ 100.0 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Office Buildings 391$ 25.8 % 352$ 24.9 % Retail Building 326 21.5 307 21.7 Investor Residential 159 10.5 156 11.0 Hotels / Motels 151 10.0 144 10.2 Warehouse 136 9.0 131 9.3 Other Properties 126 8.3 106 7.5 Multi-Residential 95 6.3 92 6.5 Convenience Stores 40 2.7 39 2.8 Restaurants / Franchise Fast Food 36 2.4 34 2.4 Manufacturing Facility 26 1.7 24 1.7 Leasehold Property 9 0.6 9 0.6 Automotive Service 8 0.5 8 0.6 Daycare Facility 5 0.3 5 0.4 Mobile Home Parks 5 0.3 4 0.3 Automotive Dealership 2 0.1 2 0.1 Total Commercial Real Estate - Income Producing 1,515$ 100.0 % 1,413$ 100.0 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $290 • Commercial RE: • Composite CRE 411 • Owner - Occupied 381 • Income - Producing 458 Committed Average Loan Size (in thousands ) • Commercial Construction $513 • Commercial RE: • Composite CRE 439 • Owner - Occupied 407 • Income - Producing 485 ucbi.com | 25

ucbi.com | 26 Granular Portfolio – Exposure and Industry Limits • Legal Lending Limit $ 274M • House Lending Limit 28M • Project Lending Limit 17M • Top 25 Relationships 575M Concentration limits set for all segments of the portfolio Disciplined Credit Processes ucbi.com | 26 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

Net Charge-offs 1.4$ 1.5$ 1.7$ 1.6$ 1.6 as % of Average Loans 0.08 % 0.09 % 0.10 % 0.09 % 0.09 % Allowance for Loan Losses 63.0$ 61.4$ 60.5$ 59.5$ 58.6 as % of Total Loans 0.94 % 0.89 % 0.87 % 0.85 % 0.81 % as % of NPLs 292 285 306 258 256 Past Due Loans (30 - 89 Days) 0.33 % 0.25 % 0.23 % 0.23 % 0.28 % Non-Performing Loans 21.6$ 21.5$ 19.8$ 23.1$ 22.9$ OREO 9.2 8.0 5.1 2.7 2.8 Total NPAs 30.8 29.5 24.9 25.8 25.7 Performing Classified Loans 121.6 114.3 108.8 91.7 100.5 Total Classified Assets 152.4$ 143.8$ 133.7$ 117.5$ 126.2$ as % of Tier 1 / Allowance 15 % 14 % 13 % 11 % 12 % Accruing TDRs 70.1$ 67.8$ 64.9$ 64.7$ 59.6$ Total NPAs as % of Total Assets 0.30 0.28 0.23 0.24 % 0.23 % as % of Loans & OREO 0.46 0.43 0.36 0.37 0.36 2Q17 3Q173Q16 4Q16 1Q17 $ in millions ucbi.com | 27 Credit Quality ucbi.com | 27

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Excellent Credit Performance & Management ucbi.com | 28 0.0% 0.5% 1.0% 1.5% 2.0% CBSH BOH UMPQ WABC CVBF BPFH PB CBU OZRK VLY UCBI UMBF CFR PNFP MBFI WAL FFIN EWBC WTFC COLB FCF FNB PFS BXS BKU FHN WAFD STL STBA CATY SNV TCBI WBS GBCI FULT BRKL ISBC FMBI TCF PACW UBSI ASB BOKF TRMK IBKC ONB HBHC SBNY BPOP 2Q17 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 ucbi.com | 28 Source: SNL Financial LC Note – Peer comparison banks comprise the KBW Regional Bank Index ( ticker:KRX )

ucbi.com | 29 (1) (2) (2) (2) (1) (1) North Georgia $ 7.6 $ 2.4 9 19 33 % 1 Atlanta, Georgia 70.4 2.6 10 34 4 7 Gainesville, Georgia 3.5 0.4 1 5 11 4 Coastal Georgia 8.9 0.4 2 7 4 8 Western North Carolina 7.4 1.1 1 19 14 3 East Tennessee 17.6 0.5 2 11 3 7 Upstate South Carolina 24.9 1.1 4 25 5 7 Coastal South Carolina 22.4 0.6 1 15 1 17 Loan Production Offices - - - 7 Total Markets $ 162.7 $ 9.1 30 142 Rank United Community Banks, Inc. Deposit ShareOffices Community BanksDeposits Total Market Deposits Market Share Growth Opportunities ucbi.com | 29 (1) United deposit share and United rank are as of June 30, 2017 for markets where United takes deposits (Source: FDIC). As such, U nited deposit share and United rank exclude deposits acquired through the acquisition of HCSB on July 31, 2017. (2) Based on current quarter $ in billions

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 $11.1 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 142 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 | 30 Jefferson L. Harralson EVP & CFO Joined 2017 Experienced Proven Leadership ucbi.com | 30

3Q16 4Q16 1Q17 2Q17 3Q17 (1) Net Income Net income - GAAP 25,874$ 27,221$ 23,524$ 28,267$ 27,946$ Merger-related and other charges 3,152 1,141 2,054 1,830 3,420 Tax benefit on merger-related and other charges (1,193) (432) (758) (675) (1,147) Impairment of deferred tax asset on canceled nonqualified stock options - 976 - - - Release of disproportionate tax effects lodged in OCI - - 3,400 - - Net income - Operating 27,833$ 28,906$ 28,220$ 29,422$ 30,219$ Diluted Earnings per share Diluted earnings per share - GAAP 0.36$ 0.38$ 0.33$ 0.39$ 0.38$ Merger-related and other charges 0.03 0.01 0.01 0.02 0.03 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 0.39$ 0.40$ 0.39$ 0.41$ 0.41$ Return on Assets Return on assets - GAAP 1.00 % 1.03 % 0.89 % 1.06 % 1.01 % Merger-related and other charges 0.08 0.03 0.05 0.04 0.08 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 1.08 % 1.10 % 1.07 % 1.10 % 1.09 % ucbi.com | 31 Non - GAAP Reconciliation Tables ucbi.com | 31 $ in thousands, except per share data (1) Merger - related and other charges for 3Q17 include $244 thousand of intangible amortization resulting from payments made to exec utives under their change of control agreements. The resulting intangible assets are being amortized over 24 months.

3Q16 4Q16 1Q17 2Q17 3Q17 (1) Return on Tangible Common Equity Return on common equity - GAAP 9.61 % 9.89 % 8.54 % 9.98 % 9.22 % Effect of merger-related and other charges 0.73 0.26 0.47 0.41 0.75 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 10.34 10.51 10.25 10.39 9.97 Effect of goodwill and intangibles 2.11 1.96 1.85 1.80 1.96 Return on tangible common equity - Operating 12.45 % 12.47 % 12.10 % 12.19 % 11.93 % Expenses Expenses - GAAP 64,023$ 61,321$ 62,826$ 63,229$ 65,674$ Merger-related and other charges (3,152) (1,141) (2,054) (1,830) (3,420) Expenses - Operating 60,871$ 60,180$ 60,772$ 61,399$ 62,254$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 41,627$ 44,837$ 42,002$ 44,804$ 43,674$ Merger-related and other charges 3,152 1,141 2,054 1,830 3,420 Provision for credit losses (300) - 800 800 1,000 Pre-Tax, Pre-Credit Earnings - Operating 44,479$ 45,978$ 44,856$ 47,434$ 48,094$ Efficiency Ratio Efficiency Ratio - GAAP 60.78 % 57.65 % 59.29 % 57.89 % 59.27 % Merger-related and other charges (2.99) (1.07) (1.94) (1.68) (3.09) Efficiency Ratio - Operating 57.79 % 56.58 % 57.35 % 56.21 % 56.18 % ucbi.com | 32 Non - GAAP Reconciliation Tables ucbi.com | 32 $ in thousands, except per share data (1) Merger - related and other charges for 3Q17 include $244 thousand of intangible amortization resulting from payments made to exec utives under their change of control agreements. The resulting intangible assets are being amortized over 24 months.