Press Release Details

BLAIRSVILLE, GA, Aug 12, 2010 (MARKETWIRE via COMTEX News Network) -- United Community Banks, Inc. (NASDAQ: UCBI) announced the filing of a $200 million shelf registration statement.

"Our prior shelf registration was utilized with the shareholder-approved issuance of equity in connection with the sale of the nonperforming assets in the second quarter," said Jimmy Tallent, United's president and chief executive officer. "Shareholders also approved an increase of 200 million in authorized shares. In connection with this increase, we are filing a registration statement that is consistent with our prior shelf which allows us to go to market in an efficient and timely manner as capital needs may arise. Any securities offered under the shelf will be on terms determined by market conditions at the time of any such offering."

Types of securities that may be offered and sold from time to time under the registration statement include shares of common stock, preferred stock, preferred stock that may be convertible into or exchangeable for common stock, debt securities, debt securities that may be convertible or exchangeable for common or preferred stock, warrants to purchase common or preferred stock, and any combination thereof.

About United Community Banks, Inc. Headquartered in Blairsville, United Community Banks is the third-largest bank holding company in Georgia. United Community Banks has assets of $7.7 billion and operates 27 community banks with 106 banking offices located throughout north Georgia, the Atlanta region, coastal Georgia, western North Carolina and east Tennessee. The Company specializes in providing personalized community banking services to individuals and small to mid-size businesses. United Community Banks also offers the convenience of 24-hour access through a network of ATMs, telephone and on-line banking. United Community Banks common stock is listed on the Nasdaq Global Select Market under the symbol UCBI. Additional information may be found at the Company's web site at www.ucbi.com.

Safe Harbor This news release contains forward-looking statements, as defined by Federal Securities Laws, including statements about financial outlook and business environment. These statements are provided to assist in the understanding of future financial performance and such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. Any such statements are based on current expectations and involve a number of risks and uncertainties. For a discussion of some factors that may cause such forward-looking statements to differ materially from actual results, please refer to the section entitled "Forward-Looking Statements" of United Community Banks, Inc.'s annual and quarterly reports filed on Form 10-K and Form 10-Q with the Securities and Exchange Commission.

For more information:

Rex S. Schuette
Chief Financial Officer
706-781-2265
Email Contact

SOURCE: United Community Banks, Inc.

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