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 27, 2016

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))

Item 2.02

Results of Operations and Financial Condition.

On July 27, 2016, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended June 30, 2016 (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 27, 2016 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 2016 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.” 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 27, 2016

99.2		Investor Presentation, Second Quarter 2016

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/ Rex S. Schuette
		Rex S. Schuette
		Executive Vice President and
		Chief Financial Officer

Date: July 27, 2016

Exhibit 99.1

For Immediate Release

For more information:

Rex S. Schuette

Chief Financial Officer

(706) 781-2266

Rex_Schuette@ucbi.com

UNITED COMMUNITY BANKS, INC.

ANNOUNCES SECOND QUARTER EARNINGS

Diluted earnings per share of 35 cents, up 25 percent from second quarter 2015

Excluding merger-related charges, diluted operating EPS of 36 cents, up 13 percent

Return on assets of 1.04 percent (1.07 percent, excluding merger-related charges)

Loan growth of $181 million from first quarter, or 12 percent annualized

Fee revenue of $23.5 million increased $4.9 million, or 26 percent from the first quarter

Efficiency ratio of 59.0 percent (57.8 percent, excluding merger-related charges)

Board approved an increase in the third quarter dividend to eight cents per share

BLAIRSVILLE, GA – July 27, 2016 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced continuing momentum with second quarter 2016 results reflecting strong fee revenue and loan growth, as well as solid credit quality and capital management. Net income was $25.3 million, or 35 cents per diluted share, compared with $17.8 million, or 28 cents per diluted share, for the second quarter of 2015. For the first six months of 2016, net income was $47.6 million, or 66 cents per diluted share. This compares with $35.5 million, or 57 cents per diluted share, for the first six months of 2015.

On an operating basis, which excludes pre-tax merger-related charges of $1.18 million in the second quarter of 2016 and $3.17 million in the second quarter of 2015, operating net income was $26.0 million for the second quarter of 2016 compared with $20.0 million for the second quarter of 2015. On a per diluted share basis, operating net income was 36 cents for the second quarter of 2016 compared to 32 cents for the second quarter of 2015. For the first six months of 2016, operating net income was $49.9 million, or 69 cents per diluted share, compared with $37.6 million or 61 cents per diluted share for the first six months of 2015.

At June 30, 2016, preliminary regulatory capital ratios were as follows: Tier 1 Risk-Based of 11.4 percent; Total Risk-Based of 12.4 percent; Common Equity Tier 1 Risk-Based of 11.4 percent; and, Tier 1 Leverage of 8.5 percent.

“Our second quarter results are perhaps the best demonstration to date of the successes of our investments in new businesses and markets as well as our acquisition strategy – all with a focus on increasing returns to our shareholders,” said Jimmy Tallent, chairman and chief executive officer. “Our SBA lending and mortgage banking businesses each produced record quarterly results which led to a 36 percent increase in fee revenue from a year ago. We also achieved 12 percent annualized linked-quarter loan growth in the second quarter while maintaining top-quartile credit quality and operating expense discipline. This strong performance is reflected in our 1.07 percent operating return on assets which puts us well on our way to achieving our goal of 1.10 percent for the fourth quarter of 2016.” Including merger-related charges of $1.18 million, the second quarter return on assets was 1.04 percent.

“Second quarter loan production was a record $662 million,” Tallent added. “Linked-quarter growth was $181 million, or 12 percent annualized, above our 2016 target of a mid-to-upper-single-digit increase. Our community banks originated $433 million in loans while our specialized lending area, which includes commercial real estate, middle market, SBA, builder finance and asset-based lending, had $188 million in loan production.”

Second quarter net interest revenue totaled $74.9 million, level with the first quarter and up $13.9 million from the second quarter of 2015. The increase from the second quarter of 2015 primarily reflects net interest revenue from the Palmetto acquisition in the third quarter of 2015.

The taxable-equivalent net interest margin of 3.35 percent reflected a six basis point decrease from the first quarter. The decrease resulted mostly from lower discount accretion on purchased loans and continued loan pricing competition. This offset most of the positive impact on net interest revenue in the second quarter attributed to strong loan growth.

The second quarter provision for credit losses was a recovery of $300,000 compared with a provision recovery of $200,000 during the first quarter and a provision charge of $900,000 during the second quarter of 2015. The second quarter negative provision reflects continued strong credit quality and a low overall level of net charge-offs. “Our credit quality indicators are very favorable,” Tallent said. “Our outlook is for this to continue for the balance of 2016, which will result in continued low provision levels while slightly decreasing our required allowance for loan losses.”

Second quarter net charge-offs totaled $1.7 million compared with $2.1 million in the first quarter, and $978,000 in the second quarter of 2015. Strong recoveries of previously charged-off loans continue to contribute to the low level of net charge-offs. Nonperforming assets were .28 percent of total assets at June 30, 2016, compared with .28 percent at March 31, 2016 and .26 percent at June 30, 2015.

Second quarter fee revenue totaled $23.5 million, an increase of $4.89 million from the first quarter and up $6.23 million from a year ago. The increases from both prior periods were mostly in mortgage fees and gains from sales of SBA government guaranteed loans (“SBA loans”). Mortgage fees were up $1.16 million from first quarter and $741,000 from a year ago. The increase reflects United’s investment in growing its mortgage business by adding mortgage lenders in areas of our footprint where we see opportunities to gain market share.

Gains from sales of SBA loans were up $1.56 million from first quarter and $1.31 million from a year ago. Higher production drove the increase as United continues to focus on growing this business. During the second quarter of 2016, United sold $33 million in SBA loans. This compares with sales of $13 million during the first quarter, and sales of $15 million during the second quarter of 2015.

Operating expenses were $58.1 million for the second quarter compared with $57.9 million for the first quarter and $48.4 million for the second quarter of 2015. Included in operating expenses were merger-related charges of $1.18 million, $2.65 million and $3.17 million, for each period respectively. Excluding the merger-related charges, second quarter operating expenses were $56.9 million compared with $55.2 million for the first quarter and $45.2 million a year ago. The increase from a year ago reflects additional operating expenses following the acquisition of The Palmetto Bank and First National Bank.

The $1.65 million increase in operating expenses from the first quarter, excluding merger-related charges, was primarily in salaries and employee benefits expense, up $510,000; advertising and other marketing related expenses, up $459,000; and professional fees, up $489,000. The increase in salaries and benefits expense reflects higher incentives following the record performance in the SBA and mortgage lending businesses as well as incentives for the overall strong performance for the second quarter. Additionally, annual merit increases and an increase in 401K matching contributions went into effect on April 1, further contributing to the increase. These increases, as well as the additional investment in 29 new revenue producers in the first and second quarters, more than offset the cost savings from the elimination of staff positions late in the first quarter following the Palmetto systems conversion.

The increase in advertising and marketing related expenses primarily reflects the cost of United’s annual customer appreciation day and new marketing campaigns. Professional fees were up from the first quarter reflecting ongoing projects for process and compliance improvements and increased scalability as growth continues organically and through acquisitions.

On July 1, United completed its previously announced merger with Tidelands Bancshares, Inc., the holding company for Tidelands Bank which serves coastal South Carolina with banking offices in Charleston, Hilton Head and Myrtle Beach. “I’m very excited to have Tidelands join us as a key part of our coastal South Carolina banking team,” Tallent said. “Tidelands Bank merged into United Community Bank on July 1 and is operating under the Tidelands brand until systems conversions are completed in mid-November. At that time, the Tidelands branches will operate under the United Community Bank brand.

“Our second quarter results have strengthened our optimism and led the Board of Directors to increase our dividend to eight cents per share beginning in the third quarter,” stated Tallent. “That is 14 percent higher than our current dividend and a 33 percent increase from a year ago.

“We expect our strong momentum to continue throughout the remainder of 2016 as we maintain a high-quality balance sheet, generate growth and increase profitability. All of this is a testament to our talented bankers who are carrying out our plans while providing customer service that is second to none,” Tallent concluded.

Conference Call

United will hold a conference call today, Wednesday, July 27, 2016, 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 42056034. 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 registered bank holding company based in Blairsville, Georgia, with $10.4 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the Southeast region’s largest full-service banks, operating 140 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in providing personalized community banking services to individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products, including mortgage, advisory, and treasury management. United Community Bank is consistently recognized for its outstanding customer service by respected national research firms. In 2014 and 2015, United Community Bank was ranked first in customer satisfaction in the southeast by J.D. Power and again in 2016 was ranked among the top 100 on the Forbes list of America’s Best Banks. 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 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,” “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.” 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 its 2015 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
	2016						2015									Quarter			Months Ended						YTD
	Second			First			Fourth			Third			Second			2016-2015			June 30,						2016-2015
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2016			2015			Change
INCOME SUMMARY
Interest revenue	$	81,082		$	80,721		$	79,362		$	70,828		$	65,808					$	161,803		$	128,342
Interest expense		6,164			5,769			5,598			5,402			4,817						11,933			10,109
Net interest revenue		74,918			74,952			73,764			65,426			60,991			23	%		149,870			118,233			27	%
Provision for credit losses		(300	)		(200	)		300			700			900						(500	)		2,700
Fee revenue		23,497			18,606			21,284			18,297			17,266			36			42,103			32,948			28
Total revenue		98,715			93,758			94,748			83,023			77,357			28			192,473			148,481			30
Expenses		58,060			57,885			65,488			54,269			48,420			20			115,945			91,481			27
Income before income tax expense		40,655			35,873			29,260			28,754			28,937			40			76,528			57,000			34
Income tax expense		15,389			13,578			11,052			10,867			11,124			38			28,967			21,517			35
Net income		25,266			22,295			18,208			17,887			17,813			42			47,561			35,483			34
Preferred dividends		-			21			25			25			17						21			17
Net income available to common shareholders		25,266			22,274			18,183			17,862			17,796			42			47,540			35,466			34
Merger-related and other charges		1,176			2,653			9,078			5,744			3,173						3,829			3,173
Income tax benefit of merger-related and other charges		(445	)		(1,004	)		(3,486	)		(1,905	)		(997	)					(1,449	)		(997	)
Net income available to common shareholders - operating ⁽¹⁾	$	25,997		$	23,923		$	23,775		$	21,701		$	19,972			30		$	49,920		$	37,642			33

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.35		$	.31		$	.25		$	.27		$	.28			25		$	.66		$	.57			16
Diluted net income - operating ⁽¹⁾		.36			.33			.33			.33			.32			13			.69			.61			13
Cash dividends declared		.07			.07			.06			.06			.05						.14			.10
Book value		14.80			14.35			14.02			13.95			12.95			14			14.80			12.95			14
Tangible book value⁽³⁾		12.84			12.40			12.06			12.08			12.66			1			12.84			12.66			1

Key performance ratios:
Return on common equity - GAAP⁽²⁾⁽⁴⁾		9.54	%		8.57	%		7.02	%		7.85	%		8.83	%					9.06	%		9.08	%
Return on common equity - operating^(1)(2)(4)		9.81			9.20			9.18			9.54			9.90						9.51			9.63
Return on tangible common equity - operating^(1)(2)(3)(4)		11.56			10.91			10.87			10.29			10.20						11.24			9.84
Return on assets - GAAP⁽⁴⁾		1.04			.93			.76			.82			.89						.98			.92
Return on assets - operating⁽¹⁾⁽⁴⁾		1.07			1.00			.99			1.00			1.00						1.03			.97
Dividend payout ratio - GAAP		20.00			22.58			24.00			22.22			17.86						21.21			17.54
Dividend payout ratio - operating ⁽¹⁾		19.44			21.21			18.18			18.18			15.63						20.29			16.39
Net interest margin (fully taxable equivalent)⁽⁴⁾		3.35			3.41			3.34			3.26			3.30						3.38			3.30
Efficiency ratio - GAAP		59.02			61.94			68.97			64.65			61.63						60.44			60.44
Efficiency ratio - operating ⁽¹⁾		57.82			59.10			59.41			57.81			57.59						58.45			58.34
Average equity to average assets		10.72			10.72			10.68			10.39			10.05						10.72			9.96
Average tangible equity to average assets⁽³⁾		9.43			9.41			9.40			9.88			9.91						9.42			9.87
Average tangible common equity to average assets⁽³⁾		9.43			9.32			9.29			9.77			9.83						9.38			9.83
Tangible common equity to risk-weighted assets⁽³⁾⁽⁵⁾		12.87			12.77			12.82			13.08			13.24						12.87			13.24

ASSET QUALITY
Nonperforming loans	$	21,348		$	22,419		$	22,653		$	20,064		$	18,805			14		$	21,348		$	18,805			14
Foreclosed properties		6,176			5,163			4,883			7,669			2,356			162			6,176			2,356			162
Total nonperforming assets (NPAs)		27,524			27,582			27,536			27,733			21,161			30			27,524			21,161			30
Allowance for loan losses		64,253			66,310			68,448			69,062			70,129			(8	)		64,253			70,129			(8	)
Net charge-offs		1,730			2,138			1,302			1,417			978			77			3,868			3,540			9
Allowance for loan losses to loans		1.02	%		1.09	%		1.14	%		1.15	%		1.36	%					1.02	%		1.36	%
Net charge-offs to average loans⁽⁴⁾		.11			.14			.09			.10			.08						.13			.15
NPAs to loans and foreclosed properties		.44			.45			.46			.46			.41						.44			.41
NPAs to total assets		.28			.28			.29			.29			.26						.28			.26

AVERAGE BALANCES ($ in millions)
Loans	$	6,151		$	6,004		$	5,975		$	5,457		$	5,017			23		$	6,077		$	4,872			25
Investment securities		2,747			2,718			2,607			2,396			2,261			21			2,733			2,232			22
Earning assets		9,037			8,876			8,792			8,009			7,444			21			8,956			7,258			23
Total assets		9,809			9,634			9,558			8,634			8,017			22			9,721			7,818			24
Deposits		7,897			7,947			8,028			7,135			6,669			18			7,922			6,520			22
Shareholders’ equity		1,051			1,033			1,021			897			806			30			1,042			778			34
Common shares - basic (thousands)		72,202			72,162			72,135			66,294			62,549			15			72,187			61,730			17
Common shares - diluted (thousands)		72,207			72,166			72,140			66,300			62,553			15			72,191			61,734			17

AT PERIOD END ($ in millions)
Loans	$	6,287		$	6,106		$	5,995		$	6,024		$	5,174			22		$	6,287		$	5,174			22
Investment securities		2,677			2,757			2,656			2,457			2,322			15			2,677			2,322			15
Total assets		9,928			9,781			9,616			9,404			8,237			21			9,928			8,237			21
Deposits		7,857			7,960			7,873			7,897			6,800			16			7,857			6,800			16
Shareholders’ equity		1,060			1,034			1,018			1,013			827			28			1,060			827			28
Common shares outstanding (thousands)		71,122			71,544			71,484			71,472			62,700			13			71,122			62,700			13

⁽¹⁾ Excludes merger-related charges and fourth quarter impairment losses on surplus bank property. ⁽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 2016 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2016						2015									For the Six Months Ended
	Second			First			Fourth			Third			Second			June 30,
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			2016			2015

Expense reconciliation
Expenses (GAAP)	$	58,060		$	57,885		$	65,488		$	54,269		$	48,420		$	115,945		$	91,481
Merger-related and other charges		(1,176	)		(2,653	)		(9,078	)		(5,744	)		(3,173	)		(3,829	)		(3,173	)
Expenses - operating	$	56,884		$	55,232		$	56,410		$	48,525		$	45,247		$	112,116		$	88,308

Net income reconciliation
Net income (GAAP)	$	25,266		$	22,295		$	18,208		$	17,887		$	17,813		$	47,561		$	35,483
Merger-related and other charges		1,176			2,653			9,078			5,744			3,173			3,829			3,173
Income tax benefit of merger-related and other charges		(445	)		(1,004	)		(3,486	)		(1,905	)		(997	)		(1,449	)		(997	)
Net income - operating	$	25,997		$	23,944		$	23,800		$	21,726		$	19,989		$	49,941		$	37,659

Net income available to common shareholders reconciliation
Net income available to common shareholders (GAAP)	$	25,266		$	22,274		$	18,183		$	17,862		$	17,796		$	47,540		$	35,466
Merger-related and other charges		1,176			2,653			9,078			5,744			3,173			3,829			3,173
Income tax benefit of merger-related and other charges		(445	)		(1,004	)		(3,486	)		(1,905	)		(997	)		(1,449	)		(997	)
Net income available to common shareholders - operating	$	25,997		$	23,923		$	23,775		$	21,701		$	19,972		$	49,920		$	37,642

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.35		$	.31		$	.25		$	.27		$	.28		$	.66		$	.57
Merger-related and other charges		.01			.02			.08			.06			.04			.03			.04
Diluted income per common share - operating	$	.36		$	.33		$	.33		$	.33		$	.32		$	.69		$	.61

Book value per common share reconciliation
Book value per common share (GAAP)	$	14.80		$	14.35		$	14.02		$	13.95		$	12.95		$	14.80		$	12.95
Effect of goodwill and other intangibles		(1.96	)		(1.95	)		(1.96	)		(1.87	)		(.29	)		(1.96	)		(.29	)
Tangible book value per common share	$	12.84		$	12.40		$	12.06		$	12.08		$	12.66		$	12.84		$	12.66

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.54	%		8.57	%		7.02	%		7.85	%		8.83	%		9.06	%		9.08	%
Merger-related and other charges		.27			.63			2.16			1.69			1.07			.45			.55
Return on common equity - operating		9.81			9.20			9.18			9.54			9.90			9.51			9.63
Effect of goodwill and other intangibles		1.75			1.71			1.69			.75			.30			1.73			.21
Return on tangible common equity - operating		11.56	%		10.91	%		10.87	%		10.29	%		10.20	%		11.24	%		9.84	%

Return on assets reconciliation
Return on assets (GAAP)		1.04	%		.93	%		.76	%		.82	%		.89	%		.98	%		.92	%
Merger-related and other charges		.03			.07			.23			.18			.11			.05			.05
Return on assets - operating		1.07	%		1.00	%		.99	%		1.00	%		1.00	%		1.03	%		.97	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		20.00	%		22.58	%		24.00	%		22.22	%		17.86	%		21.21	%		17.54	%
Merger-related and other charges		(.56	)		(1.37	)		(5.82	)		(4.04	)		(2.23	)		(.92	)		(1.15	)
Dividend payout ratio - operating		19.44	%		21.21	%		18.18	%		18.18	%		15.63	%		20.29	%		16.39	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		59.02	%		61.94	%		68.97	%		64.65	%		61.63	%		60.44	%		60.44	%
Merger-related and other charges		(1.20	)		(2.84	)		(9.56	)		(6.84	)		(4.04	)		(1.99	)		(2.10	)
Efficiency ratio - operating		57.82	%		59.10	%		59.41	%		57.81	%		57.59	%		58.45	%		58.34	%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.72	%		10.72	%		10.68	%		10.39	%		10.05	%		10.72	%		9.96	%
Effect of goodwill and other intangibles		(1.29	)		(1.31	)		(1.28	)		(.51	)		(.14	)		(1.30	)		(.09	)
Tangible equity to assets		9.43			9.41			9.40			9.88			9.91			9.42			9.87
Effect of preferred equity		-			(.09	)		(.11	)		(.11	)		(.08	)		(.04	)		(.04	)
Tangible common equity to assets		9.43	%		9.32	%		9.29	%		9.77	%		9.83	%		9.38	%		9.83	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		11.44	%		11.32	%		11.45	%		11.40	%		11.86	%		11.44	%		11.86	%
Effect of other comprehensive income		(.06	)		(.25	)		(.38	)		(.23	)		(.28	)		(.06	)		(.28	)
Effect of deferred tax limitation		1.63			1.85			2.05			2.24			2.49			1.63			2.49
Effect of trust preferred		(.08	)		(.08	)		(.08	)		(.08	)		(.63	)		(.08	)		(.63	)
Effect of preferred equity		-			-			(.15	)		(.15	)		(.17	)		-			(.17	)
Basel III intangibles transition adjustment		(.06	)		(.07	)		(.10	)		(.13	)		(.06	)		(.06	)		(.06	)
Basel III disallowed investments		-			-			.03			.03			.03			-			.03
Tangible common equity to risk-weighted assets		12.87	%		12.77	%		12.82	%		13.08	%		13.24	%		12.87	%		13.24	%

⁽¹⁾ Second quarter 2016 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2016				2015						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	$	1,450	$	1,434	$	1,494	$	1,479	$	1,266	$	16		$	184
Income producing commercial RE		919		880		824		818		689		39			230
Commercial & industrial		926		855		785		890		793		71			133
Commercial construction		384		354		342		319		238		30			146
Total commercial		3,679		3,523		3,445		3,506		2,986		156			693
Residential mortgage		1,035		1,032		1,029		1,062		935		3			100
Home equity lines of credit		623		604		598		585		491		19			132
Residential construction		351		348		352		334		299		3			52
Consumer installment		599		599		571		537		463		-			136
Total loans	$	6,287	$	6,106	$	5,995	$	6,024	$	5,174		181			1,113

LOANS BY MARKET
North Georgia	$	1,097	$	1,097	$	1,125	$	1,130	$	1,155		-			(58	)
Atlanta MSA		1,314		1,257		1,259		1,266		1,275		57			39
North Carolina		543		543		549		546		533		-			10
Coastal Georgia		541		543		537		506		499		(2	)		42
Gainesville MSA		240		248		254		252		257		(8	)		(17	)
East Tennessee		509		495		504		511		525		14			(16	)
South Carolina		862		821		819		783		35		41			827
Specialized Lending		706		628		492		609		538		78			168
Indirect auto		475		474		456		421		357		1			118
Total loans	$	6,287	$	6,106	$	5,995	$	6,024	$	5,174		181			1,113

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	Second Quarter 2016									First Quarter 2016									Fourth Quarter 2015
	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	$	6,681		$	3,096		$	9,777		$	6,775		$	2,864		$	9,639		$	7,036		$	2,652		$	9,688
Income producing CRE		1,017			1,554			2,571			2,959			-			2,959			2,595			-			2,595
Commercial & industrial		949			-			949			978			-			978			892			-			892
Commercial construction		199			-			199			266			152			418			328			437			765
Total commercial		8,846			4,650			13,496			10,978			3,016			13,994			10,851			3,089			13,940
Residential mortgage		8,667			1,160			9,827			8,037			1,587			9,624			8,555			1,242			9,797
Home equity lines of credit		1,308			83			1,391			1,198			125			1,323			851			80			931
Residential construction		1,578			283			1,861			1,122			435			1,557			1,398			472			1,870
Consumer installment		949			-			949			1,084			-			1,084			998			-			998
Total NPAs	$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582		$	22,653		$	4,883		$	27,536
Balance as a % of
Unpaid Principal		69.6	%		40.2	%		59.8	%		69.3	%		38.2	%		60.1	%		71.4	%		34.2	%		59.8	%

NONPERFORMING ASSETS BY MARKET
North Georgia	$	6,219		$	1,086		$	7,305		$	5,353		$	1,233		$	6,586		$	5,167		$	1,612		$	6,779
Atlanta MSA		1,140			2,041			3,181			2,796			902			3,698			3,023			625			3,648
North Carolina		4,762			224			4,986			4,860			559			5,419			5,289			183			5,472
Coastal Georgia		1,186			168			1,354			1,696			121			1,817			2,079			-			2,079
Gainesville MSA		234			-			234			250			-			250			307			-			307
East Tennessee		3,616			247			3,863			3,470			351			3,821			3,448			157			3,605
South Carolina		1,271			2,410			3,681			935			1,997			2,932			323			2,306			2,629
Specialized Lending		2,108			-			2,108			2,186			-			2,186			2,231			-			2,231
Indirect auto		812			-			812			873			-			873			786			-			786
Total NPAs	$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582		$	22,653		$	4,883		$	27,536

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	22,419		$	5,163		$	27,582		$	22,653		$	4,883		$	27,536		$	20,064		$	7,669		$	27,733
Acquisitions		-			(497	)		(497	)		-			-			-			-			(1,585	)		(1,585	)
Loans placed on non-accrual		6,786			-			6,786			4,771			-			4,771			10,768			-			10,768
Payments received		(4,201	)		-			(4,201	)		(1,812	)		-			(1,812	)		(4,893	)		-			(4,893	)
Loan charge-offs		(1,803	)		-			(1,803	)		(1,679	)		-			(1,679	)		(1,813	)		-			(1,813	)
Foreclosures		(1,853	)		2,722			869			(1,514	)		1,590			76			(1,473	)		1,497			24
Capitalized costs		-			98			98			-			-			-			-			-			-
Property sales		-			(1,424	)		(1,424	)		-			(1,524	)		(1,524	)		-			(2,968	)		(2,968	)
Write downs		-			(73	)		(73	)		-			(7	)		(7	)		-			11			11
Net gains (losses) on sales		-			187			187			-			221			221			-			259			259
Ending Balance	$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582		$	22,653		$	4,883		$	27,536

	Second Quarter 2016						First Quarter 2016						Fourth Quarter 2015
				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	$	564			.16	%	$	304			.08	%	$	861			.23	%
Income producing CRE		(23	)		(.01	)		211			.10			(35	)		(.02	)
Commercial & industrial		(392	)		(.18	)		283			.14			(719	)		(.34	)
Commercial construction		22			.02			286			.33			253			.31
Total commercial		171			.02			1,084			.13			360			.04
Residential mortgage		829			.32			50			.02			(120	)		(.05	)
Home equity lines of credit		253			.17			632			.43			194			.13
Residential construction		(8	)		(.01	)		(103	)		(.12	)		415			.48
Consumer installment		485			.33			475			.33			453			.33
Total	$	1,730			.11		$	2,138			.14		$	1,302			.09

NET CHARGE-OFFS BY MARKET
North Georgia	$	428			.16	%	$	913			.33	%	$	1,011			.36	%
Atlanta MSA		1			-			(25	)		(.01	)		496			.16
North Carolina		575			.43			382			.28			426			.31
Coastal Georgia		177			.13			196			.15			47			.04
Gainesville MSA		(87	)		(.14	)		98			.16			(340	)		(.54	)
East Tennessee		346			.28			378			.31			(326	)		(.26	)
South Carolina		49			.02			(16	)		(.01	)		(474	)		(.24	)
Specialized Lending		(18	)		(.01	)		4			-			253			.18
Indirect auto		259			.22			208			.19			209			.19
Total	$	1,730			.11		$	2,138			.14		$	1,302			.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)	2016			2015		2016			2015

Interest revenue:
Loans, including fees	$	63,472		$	52,976	$	127,448		$	102,640
Investment securities, including tax exempt of $149, $181, $315 and $339		16,833			12,037		32,621			24,095
Deposits in banks and short-term investments		777			795		1,734			1,607
Total interest revenue		81,082			65,808		161,803			128,342

Interest expense:
Deposits:
NOW		444			348		929			742
Money market		1,206			806		2,314			1,479
Savings		30			26		59			46
Time		743			895		1,385			2,004
Total deposit interest expense		2,423			2,075		4,687			4,271
Short-term borrowings		93			82		180			180
Federal Home Loan Bank advances		983			454		1,716			846
Long-term debt		2,665			2,206		5,350			4,812
Total interest expense		6,164			4,817		11,933			10,109
Net interest revenue		74,918			60,991		149,870			118,233
Provision for credit losses		(300	)		900		(500	)		2,700
Net interest revenue after provision for credit losses		75,218			60,091		150,370			115,533

Fee revenue:
Service charges and fees		10,515			8,375		20,641			15,990
Mortgage loan and other related fees		4,448			3,707		7,737			6,462
Brokerage fees		1,117			1,232		2,170			2,783
Gains from sales of government guaranteed loans		2,801			1,494		4,038			2,635
Securities gains, net		282			13		661			1,552
Loss from prepayment of debt		-			-		-			(1,038	)
Other		4,334			2,445		6,856			4,564
Total fee revenue		23,497			17,266		42,103			32,948
Total revenue		98,715			77,357		192,473			148,481

Operating expenses:
Salaries and employee benefits		33,572			27,961		66,634			54,407
Communications and equipment		4,393			3,304		8,683			6,575
Occupancy		4,538			3,415		9,261			6,693
Advertising and public relations		1,323			1,127		2,187			1,877
Postage, printing and supplies		1,298			993		2,578			1,931
Professional fees		3,189			2,257		5,889			4,176
FDIC assessments and other regulatory charges		1,517			1,298		3,041			2,507
Amortization of intangibles		987			447		1,997			689
Merger-related and other charges		1,176			3,173		3,829			3,173
Other		6,067			4,445		11,846			9,453
Total operating expenses		58,060			48,420		115,945			91,481
Net income before income taxes		40,655			28,937		76,528			57,000
Income tax expense		15,389			11,124		28,967			21,517
Net income		25,266			17,813		47,561			35,483
Preferred stock dividends and discount accretion		-			17		21			17
Net income available to common shareholders	$	25,266		$	17,796	$	47,540		$	35,466

Earnings per common share:
Basic	$	.35		$	.28	$	.66		$	.57
Diluted		.35			.28		.66			.57
Weighted average common shares outstanding:
Basic		72,202			62,549		72,187			61,730
Diluted		72,207			62,553		72,191			61,734

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheet (Unaudited)

	June 30,			December 31,
(in thousands, except share and per share data)	2016			2015

ASSETS
Cash and due from banks	$	107,606		$	86,912
Interest-bearing deposits in banks		100,036			153,451
Cash and cash equivalents		207,642			240,363
Securities available for sale		2,335,511			2,291,511
Securities held to maturity (fair value $356,740 and $371,658)		341,951			364,696
Mortgage loans held for sale		30,152			24,231
Loans, net of unearned income		6,286,527			5,995,441
Less allowance for loan losses		(64,253	)		(68,448	)
Loans, net		6,222,274			5,926,993
Premises and equipment, net		181,349			178,165
Bank owned life insurance		105,784			105,493
Accrued interest receivable		25,879			25,786
Net deferred tax asset		157,689			197,613
Derivative financial instruments		26,880			20,082
Goodwill and other intangible assets		146,124			147,420
Other assets		147,238			94,075
Total assets	$	9,928,473		$	9,616,428
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,386,857		$	2,204,755
NOW		1,730,313			1,975,884
Money market		1,641,980			1,599,637
Savings		502,134			471,129
Time		1,183,943			1,282,803
Brokered		412,267			338,985
Total deposits		7,857,494			7,873,193
Repurchase agreements		-			16,640
Federal Home Loan Bank advances		735,125			430,125
Long-term debt		164,066			163,836
Derivative financial instruments		34,930			28,825
Accrued expenses and other liabilities		77,121			85,524
Total liabilities		8,868,736			8,598,143
Shareholders' equity:
Preferred stock, $1 par value; 10,000,000 shares authorized; Series H; $1,000 stated value; 0 and 9,992 shares issued and outstanding		-			9,992
Common stock, $1 par value; 150,000,000 shares authorized; 69,863,008 and 66,198,477 shares issued and outstanding		69,863			66,198
Common stock, non-voting, $1 par value; 26,000,000 shares authorized; 1,258,792 and 5,285,516 shares issued and outstanding		1,259			5,286
Common stock issuable; 486,753 and 458,953 shares		6,651			6,779
Capital surplus		1,279,383			1,286,361
Accumulated deficit		(293,424	)		(330,879	)
Accumulated other comprehensive loss		(3,995	)		(25,452	)
Total shareholders' equity		1,059,737			1,018,285
Total liabilities and shareholders' equity	$	9,928,473		$	9,616,428

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended June 30,

	2016								2015
	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⁾	$	6,150,654		$	63,485		4.15	%	$	5,017,306		$	53,081			4.24	%
Taxable securities ⁽³⁾		2,720,061			16,684		2.45			2,235,561			11,856			2.12
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		27,434			244		3.56			25,685			296			4.61
Federal funds sold and other interest-earning assets		138,622			912		2.63			165,643			901			2.18

Total interest-earning assets (FTE)		9,036,771			81,325		3.62			7,444,195			66,134			3.56
Non-interest-earning assets:
Allowance for loan losses		(66,104	)							(71,006	)
Cash and due from banks		94,920								77,124
Premises and equipment		182,609								167,926
Other assets ⁽³⁾		560,357								398,356
Total assets	$	9,808,553							$	8,016,595

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,755,726			444		.10		$	1,419,142			348			.10
Money market		1,866,913			1,206		.26			1,607,665			806			.20
Savings		497,973			30		.02			335,093			26			.03
Time		1,205,066			675		.23			1,249,098			1,273			.41
Brokered time deposits		187,481			68		.15			276,073			(378	)		(.55	)
Total interest-bearing deposits		5,513,159			2,423		.18			4,887,071			2,075			.17

Federal funds purchased and other borrowings		11,000			93		3.40			47,698			82			.69
Federal Home Loan Bank advances		589,246			983		.67			289,707			454			.63
Long-term debt		164,020			2,665		6.53			113,901			2,206			7.77
Total borrowed funds		764,266			3,741		1.97			451,306			2,742			2.44

Total interest-bearing liabilities		6,277,425			6,164		.39			5,338,377			4,817			.36
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,383,894								1,782,405
Other liabilities		96,067								90,091
Total liabilities		8,757,386								7,210,873
Shareholders' equity		1,051,167								805,722
Total liabilities and shareholders' equity	$	9,808,553							$	8,016,595

Net interest revenue (FTE)				$	75,161							$	61,317
Net interest-rate spread (FTE)							3.23	%								3.20	%

Net interest margin (FTE) ⁽⁴⁾							3.35	%								3.30	%

⁽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 $12.3 million in 2016 and $18.9 million in 2015 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,

	2016									2015
	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⁾	$	6,077,111		$	127,529			4.22	%	$	4,872,112		$	102,946			4.26	%
Taxable securities ⁽³⁾		2,704,309			32,306			2.39			2,211,293			23,756			2.15
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		28,590			516			3.61			20,987			555			5.29
Federal funds sold and other interest-earning assets		146,192			1,965			2.69			153,597			1,786			2.33

Total interest-earning assets (FTE)		8,956,202			162,316			3.64			7,257,989			129,043			3.58
Non-interest-earning assets:
Allowance for loan losses		(67,289	)								(71,596	)
Cash and due from banks		90,278									78,069
Premises and equipment		181,350									163,737
Other assets ⁽³⁾		560,813									389,874
Total assets	$	9,721,354								$	7,818,073

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,821,100			929			.10		$	1,447,370			742			.10
Money market		1,853,749			2,314			.25			1,537,678			1,479			.19
Savings		489,106			59			.02			317,814			46			.03
Time		1,232,378			1,492			.24			1,240,450			2,661			.43
Brokered time deposits		210,347			(107	)		(.10	)		274,708			(657	)		(.48	)
Total interest-bearing deposits		5,606,680			4,687			.17			4,818,020			4,271			.18

Federal funds purchased and other borrowings		22,953			180			1.58			41,953			180			.87
Federal Home Loan Bank advances		467,708			1,716			.74			264,584			846			.64
Long-term debt		164,720			5,350			6.53			120,782			4,812			8.03
Total borrowed funds		655,381			7,246			2.22			427,319			5,838			2.76

Total interest-bearing liabilities		6,262,061			11,933			.38			5,245,339			10,109			.39
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,315,468									1,702,140
Other liabilities		101,694									92,138
Total liabilities		8,679,223									7,039,617
Shareholders' equity		1,042,131									778,456
Total liabilities and shareholders' equity	$	9,721,354								$	7,818,073

Net interest revenue (FTE)				$	150,383								$	118,934
Net interest-rate spread (FTE)								3.26	%								3.19	%

Net interest margin (FTE) ⁽⁴⁾								3.38	%								3.30	%

⁽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 $7.28 million in 2016 and $14.8 million in 2015 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

ucbi.com | 1 INVESTOR PRESENTATION Second Quarter 2016 July 27, 2016

ucbi.com | 2 ucbi.com | 2 Disclosures operating efficiency ratio, operating dividend payout ratio, operating expenses, pre - tax, pre - credit earnings, tangible common equity to tangible assets, tangible equity to tangible assets and tangible common equity to risk - weighted assets . The most comparable GAAP measures to these measures are : net income, net income available to common shareholders, diluted income per common share, ROE, ROA, efficiency ratio, dividend payout ratio, expenses, net income, and equity to assets . Management uses these non - GAAP financial measures because we believe they are useful for evaluating our operations and performance over periods of time, as well as in managing and evaluating our business and in discussions about our operations and performance . Management believes these non - GAAP financial measures provide users of our financial information with a meaningful measure for assessing our financial results and credit trends, as well as for comparison to financial results for prior periods . These non - GAAP financial measures should not be considered as a substitute for financial measures determined in accordance with GAAP and may not be comparable to other similarly titled financial measures used by other companies . For a reconciliation of the differences between our non - GAAP financial measures and the most comparable GAAP measures, please refer to the ‘Non - GAAP Reconcilement Tables’ included in the exhibits to this presentation . CAUTIONARY STATEMENT This investor presentation may contain 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 Community Banks, Inc . ’s filings with the Securities and Exchange Commission, including its 2015 Annual Report on Form 10 - K and its most recent quarterly report on Form 10 - Q under the sections 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 also contains financial measures determined by methods other than in accordance with generally accepted accounting principles (“GAAP”) . Such non - GAAP financial measures may include : operating net income, operating net income available to common shareholders, operating diluted income per common share, operating ROE, operating ROA,

ucbi.com | 3 • Head quartered in Blairsville, GA • Regional Headquarters in Greenville, SC • Four state regional community bank: GA, NC, SC and TN • One of the largest community banks in the Southeast • Established in 1950 • 140 locations (pro forma including 7 Tidelands locations at July 1) • 1,984 employees (pro forma including 77 Tidelands employees at July 1) Market Data Ticker UCBI Price (as of 7/22/16) $19.20 Market Cap $1.4B P/E (2016e) 13.43 P/TBV 150% Avg. Daily Vol. (LTM) 486,000 Institutional Ownership 71.2% Quarterly Dividend (3Q16) $0.08 Second Quarter 2016 Assets $9.9B Loans $6.3B Deposits $7.9B EPS – GAAP $0.35 EPS – Operating $0.36 Total RBC 12.4% CET1 11.4% NPAs/Assets 0.28% ROA – GAAP 1.04% ROA – Operating 1.07% ROCE – GAAP 9.54% ROTCE – Operating 11.56% ucbi.com | 3 Snapshot of United Community Banks, Inc.

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

ucbi.com | 5 Second Quarter 2016 Highlights ucbi.com | 5 $17.3 $18.3 $21.3 $18.6 $23.5 $16 $18 $20 $22 $24 2Q15 3Q15 4Q15 1Q16 2Q16 Fee Revenue in millions 8.83% 7.85% 7.02% 8.57% 9.54% 10.20% 10.29% 10.87% 10.91% 11.56% 6.00% 8.00% 10.00% 12.00% 2Q15 3Q15 4Q15 1Q16 2Q16 Return on (Tangible) Common Equity ROCE - GAAP ROTCE - Operating (1) $61.0 $65.4 $73.8 $75.0 $74.9 $60 $65 $70 $75 $80 2Q15 3Q15 4Q15 1Q16 2Q16 Net Interest Revenue in millions $0.28 $0.27 $0.25 $0.31 $0.35 $0.32 $0.33 $0.33 $0.33 $0.36 $0.22 $0.26 $0.30 $0.34 $0.38 2Q15 3Q15 4Q15 1Q16 2Q16 Earnings Per Share GAAP Operating (1) .89% .82% .76% .93% 1.04% 1.00% 1.00% .99% 1.00% 1.07% 0.75% 0.85% 0.95% 1.05% 1.15% 2Q15 3Q15 4Q15 1Q16 2Q16 Return on Assets GAAP Operating (1) 3.30% 3.26% 3.34% 3.41% 3.35% 3.25% 3.30% 3.35% 3.40% 3.45% 2Q15 3Q15 4Q15 1Q16 2Q16 Net Interest Margin (fully taxable equivalent) 1.36% 1.15% 1.14% 1.09% 1.02% 1.00% 1.10% 1.20% 1.30% 1.40% 2Q15 3Q15 4Q15 1Q16 2Q16 Allowance as % of Total Loans 0.26% 0.29% 0.29% 0.28% 0.28% 0.00% 0.10% 0.20% 0.30% 0.40% 2Q15 3Q15 4Q15 1Q16 2Q16 Non - Performing Assets as % of Total Assets 0.08% 0.10% 0.09% 0.14% 0.11% 0.00% 0.05% 0.10% 0.15% 0.20% 2Q15 3Q15 4Q15 1Q16 2Q16 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 | 6 (1) See non - GAAP reconciliation table slides at the end of the exhibits (2) Includes First National Bank as of the acquisition date of May 1 , 2015 (3) Includes Palmetto as of the acquisition date of September 1 , 2015 ucbi.com | 6 Second Quarter 2016 Highlights 1Q16 2Q15 EARNINGS SUMMARY ($ in thousands) Net Income - GAAP 17,796$ 17,862$ 18,183$ 22,274$ 25,266$ 2,992$ 7,470$ Net Income - Operating (1) 19,989 21,726 23,800 23,944 25,997 2,053 6,008 Net Interest Revenue 60,991 65,426 73,764 74,952 74,918 (34) 13,927 Fee Revenue 17,266 18,297 21,284 18,606 23,497 4,891 6,231 Expenses - GAAP 48,420 54,269 65,488 57,885 58,060 175 9,640 Expenses - Operating (1) 45,247 48,525 56,410 55,232 56,884 1,652 11,637 PER SHARE DATA Diluted EPS - GAAP 0.28$ 0.27$ 0.25$ 0.31$ 0.35$ 0.04$ 0.07$ Diluted EPS - Operating (1) 0.32 0.33 0.33 0.33 0.36 0.03 0.04 Book Value per Share 12.95 13.95 14.02 14.35 14.80 0.45 14.52 Tangible Book Value per Share 12.66 12.08 12.06 12.40 12.84 0.44 0.18 KEY OPERATING PERFORMANCE MEASURES Return on Assets - GAAP 0.89 % 0.82 % 0.76 % 0.93 % 1.04 % 0.11 0.15 Return on Assets - Operating (1) 1.00 1.00 0.99 1.00 1.07 0.07 0.07 Return on Common Equity - GAAP 8.83 7.85 7.02 8.57 9.54 0.97 0.71 Return on Tangible Common Equity - Operating (1) 10.20 10.29 10.87 10.91 11.56 0.65 1.36 Net Interest Margin (fully taxable equivalent) 3.30 3.26 3.34 3.41 3.35 (0.06) 0.05 Efficiency Ratio - GAAP 61.63 64.65 68.97 61.94 59.02 (2.92) (2.61) Efficiency Ratio - Operating (1) 57.59 57.81 59.41 59.10 57.82 (1.28) 0.23 ASSET QUALITY Allowance for Loan Losses to Loans 1.36 % 1.15 % 1.14 % 1.09 % 1.02 % (0.07) (0.34) NPAs to Loans and Foreclosed Properties 0.41 0.46 0.46 0.45 0.44 (0.01) 0.03 NPAs to Total Assets 0.26 0.29 0.29 0.28 0.28 - 0.02 AT PERIOD END ($ in millions) Loans 5,174$ 6,024$ 5,995$ 6,106$ 6,287$ 181$ 1,113$ Investment Securities 2,322 2,457 2,656 2,757 2,677 (80) 355 Total Assets 8,237 9,404 9,616 9,781 9,928 147 1,691 Deposits 6,808 7,905 7,881 7,960 7,857 (103) 1,049 Variance - Incr / (Decr) 2Q (2) (3) 4Q 2016 1Q 2015 2Q 3Q

ucbi.com | 7 Second Quarter 2016 Highlights ucbi.com | 7 (in millions) 2Q16 1Q16 2Q15 Net Income ($ in millions) GAAP $ 25.3 $ 22.3 $ 17.8 Operating (1) 26.0 23.9 20.0 EPS GAAP .35 .31 .28 Operating (1) .36 .33 .32 ROA GAAP 1.04 .93 .89 Operating (1) 1.07 1.00 1.00 ROCE GAAP 9.54 8.57 8.83 ROTCE Operating (1) 11.56 10.91 10.20 Protecting High - Quality Balance Sheet (1) Asset Quality ► Top - Quartile Credit Quality Performance ● Provision recovery of $300 thousand compared with a recovery of $200 thousand in 1Q16 and provision of $900 thousand in 2Q15 ● Net charge - offs to loans of 0.11% - decreased 3bp from 1Q16 and increased 3bp from 2Q15 ● NPAs were 0.28% of total assets compared with 0.28% in 1Q16 and 0.26% in 2Q15 ● Allowance 1.02% of total loans compared with 1.09% at 1Q16 and 1.36% at 2Q15 Capital Management ► Solid and Well - Capitalized Regulatory Capital Ratios ● Tier I Common to Risk Weighted Assets of 11.4% and Tier I Leverage of 8.5% ● Tier I Risk Based Capital of 11.4% and Total Risk Based Capital of 12.4% ► Committed to Returning Value to Shareholders While Balancing Reinvestment in United ● Quarterly dividend of $0.07 per share in each 2Q16 and 1Q16 compared with $0.06 in each 4Q15 and 3Q15 and $0.05 in 2Q15 (increased to $0.08 for 3Q16) ● Dividend payout ratio of 20.0% in 2Q16 compared with 22.6% in 1Q16 and 17.9% in 2Q15; on an operating basis, the dividend payout ratio was 19.4%, 21.2% and 15.6%, respectively ● Stock repurchases to - date of $13.6 million (764,000 shares / average price of $17.85 per share) (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 | 8 Second Quarter 2016 Highlights ucbi.com | 8 Increasing Profitability Net Interest Revenue ► $74.9 Million – Unchanged from 1Q16 ● Decreased $34 thousand from 1Q16 and increased $13.9 million from 2Q15 ● Average loans increased to $6.15 billion in 2Q16 up from $6.00 billion in 1Q16 and $5.02 billion in 2Q15 ● Average investment securities increased to $2.75 billion in 2Q16 up from $2.72 billion in 1Q16 and $2.26 billion in 2Q15 Taxable Equivalent Net Interest Margin ► 3.35% - Decreased Following Two Consecutive Quarterly Increases ● Decreased from 3.41% in 1Q16 and increased from 3.30% in 2Q15 ● Loan yield decreased to 4.15% in 2Q16 from 4.29% in 1Q16 and 4.24% in 2Q15 o Decline due to pricing pressures and higher mix of floating - rate loans – 3bp o Decline in accretable purchased interest to normalized levels – 3 bps ● Investment securities yield increased to 2.46% in 2Q16 up from 2.34% in 1Q16 and 2.15% in 2Q15 ● Funding costs increased slightly to 0.39% in 2Q16, a 2 bp increase from 1Q16 and a 3 bp increase from 2Q15 Fee Revenue ► $23.5 Million – Fee Revenue Expansion Focus Through Targeted Growth Initiatives ● Increased $4.9 million from 1Q16 and increased $6.2 million from 2Q15 ● Linked quarter growth in mortgage loan and related fees of $1.2 million, gains from sales of SBA government guaranteed loans of $1.6 million and other fee revenue of $1.8 million ● Year - over - year increases also impacted by acquisitions with growth in service charges and fees of $2.1 million, mortgage loan and other related fees of $741 thousand, gains from sales of SBA loans of $1.3 million, and other fee revenue of $1.9 million

ucbi.com | 9 Second Quarter 2016 Highlights ucbi.com | 9 Generating Growth Loan Growth ► Well - Diversified Loan Portfolio ● Increased $181 million from 1Q16, or 12% annualized, and $233 million from 2Q15, or 5%, excluding mergers and healthcare portfolio loan sale ● Strong loan production of $662 million vs. $562 million in 1Q16 and $526 million in 2Q15 Core Transactio n Deposits ► $5.4 Billion – Solid Low - Cost Core Transaction Deposits ● Increased $59 million from 1Q16, or 4% annualized, and $381 million from 2Q15, or 9%, excluding deposits acquired in mergers Acquisitions ► 2016 - Tidelands Bancshares, Inc. ● Announced merger with Tidelands Bancshares, Inc., headquartered in Mt. Pleasant, South Carolina, on April 4, 2016 ● Closed July 1, 2016 ● Strategic purchase completes a two - step plan, accelerating growth in attractive coastal South Carolina markets, providing additional organic growth from the lift - out of an experienced lending team and will be immediately accretive to operating earnings

ucbi.com | 10 ucbi.com | 10 Return on Assets - Operating (bps) Execute Strategies 100 107 110 90 95 100 105 110 1Q16 Actual 2Q16 Actual 3Q16 4Q16 Target 4Q16 Path to 1.10% ROA (Operating) by Q416

ucbi.com | 11 Protecting High - Quality Balance Sheet Credit Quality Net Charge-offs 1.0$ 1.4$ 1.3$ 2.1$ 1.7$ as % of Average Loans 0.08 % 0.10 % 0.09 % 0.14 % 0.11 % Allowance for Loan Losses 70.1$ 69.1$ 68.4$ 66.3$ 64.3$ as % of Total Loans 1.36 % 1.15 % 1.14 % 1.09 % 1.02 % as % of NPLs 373 344 302 296 301 Past Due Loans (30 - 89 Days) 0.24 % 0.27 % 0.26 % 0.21 % 0.22 % Non-Performing Loans 18.8$ 20.0$ 22.6$ 22.4$ 21.3$ OREO 2.4 7.7 4.9 5.2 6.2 Total NPAs 21.2 27.7 27.5 27.6 27.5 Performing Classified Loans 115.7 136.0 127.5 121.1 118.5 Total Classified Assets 136.9$ 163.7$ 155.0$ 148.7$ 146.0$ as % of Tier 1 / Allowance 18 % 18 % 17 % 16 % 15 % Accruing TDRs 86.1$ 84.6$ 83.0$ 72.8$ 73.3$ As % of Original Principal Balance Non-Performing Loans 64.9 % 70.3 % 71.4 % 69.3 % 69.6 % OREO 46.6 45.8 34.2 38.2 40.2 Total NPAs as % of Total Assets 0.26 0.29 0.29 0.28 0.28 as % of Loans & OREO 0.41 0.46 0.46 0.45 0.44 2Q15 3Q15 4Q15 1Q16 2Q16 $ in millions ucbi.com | 11

ucbi.com | 12 Protecting High - Quality Balance Sheet Prudent Capital Management ucbi.com | 12 Holding Company 2Q16 1Q16 4Q15 3Q15 2Q15 Tier I Risk - Based Capital 11.4% 11.3% 11.5% 11.4% 11.9% Total Risk - Based Capital 12.4 12.3 12.5 12.5 13.1 Leverage 8.5 8.4 8.3 9.1 9.1 Tier I Common Risk - Based Capital 11.4 11.3 11.5 11.4 11.9 Tangible Common Equity to Risk - Weighted Assets 12.9 12.8 12.8 13.1 13.2 Average Tangible Equity to Average Assets 9.4 9.4 9.4 9.9 9.9 ► All regulatory capital ratios above “well - capitalized” ► Stock repurchases of $8.2 million through June 30, 2016 (460,000 shares / average price of $17.80 per share) ► Paid quarterly shareholder dividend of $0.07 per share on July 1, 2016 to shareholders of record on June 15, 2016 ► Tidelands acquisition completed on July 1, 2016. No shares issued and all ratios are expected to be 12 to 46 basis points lower for 3Q16 ► Palmetto acquisition lowered all ratios (as expected) in 3Q15 and lowered Leverage ratio further in 4Q15 (full quarter impact of average assets) ► Continued strong earnings and $116 million of future DTA recovery driving regulatory capital growth

ucbi.com | 13 $61.0 $65.4 $73.8 $75.0 $74.9 $45.2 $48.5 $56.4 $55.2 $56.9 $33.0 $35.2 $38.6 $38.3 $41.5 $17.3 $18.3 $21.3 $18.6 $23.5 $10 $20 $30 $40 $50 $60 $70 $80 2Q15 3Q15 4Q15 1Q16 2Q16 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue Increasing Profitability Earnings, Fee Revenue, and Expenses ucbi.com | 13 2Q16 1Q16 2Q15 Salaries & Employee Benefits 33,572$ 510$ 5,611$ Communications & Equipment 4,393 103 1,089 Occupancy 4,538 (185) 1,123 FDIC Assessment 1,517 (7) 219 Advertising & Public Relations 1,323 459 196 Postage, Printing & Supplies 1,298 18 305 Professional Fees 3,189 489 932 Other Expense 7,054 265 2,162 Expenses - Operating (1) 56,884 1,652 11,637 Merger-Related and Other Charges 1,176 (1,477) (1,997) Expenses - GAAP 58,060$ 175$ 9,640$ Variance - Incr/(Decr) 2Q16 1Q16 2Q15 Overdraft Fees 3,297$ (96)$ 567$ Interchange Fees 5,333 360 1,113 Other Service Charges 1,885 125 460 Total Service Charges and Fees 10,515 389 2,140 Mortgage Loan & Related Fees 4,448 1,159 741 Brokerage Fees 1,117 64 (115) Gains from SBA Loan Sales 2,801 1,564 1,307 Securities Gains, Net 282 (97) 269 Other 4,334 1,812 1,889 Fee Revenue 23,497$ 4,891$ 6,231$ Variance - Incr/(Decr) 2Q16 1Q16 2Q15 Net Interest Revenue 74,918$ (34)$ 13,927$ Fee Revenue 23,497 4,891 6,231 Gross Revenue 98,415 4,857 20,158 Expenses - Operating (1) 56,884 1,652 11,637 Pre-Tax, Pre-Credit Earnings (1) 41,531 3,205 8,521 Merger-Related and Other Charges (1,176) 1,477 1,997 Provision for Credit Losses 300 100 1,200 Income Taxes (15,389) (1,811) (4,265) Net Income - GAAP 25,266$ 2,971$ 7,453$ Net Interest Margin 3.35 % (0.06) bp 0.05 bp (fully taxable equivalent) 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

ucbi.com | 14 Increasing Profitability ucbi.com | 14 Expense Discipline ► Efficiency improvements are attributable to various expense reduction initiatives while maintaining high business growth ► Declining trend sustained with substantial investments in growth and infrastructure 2012 2013 2014 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 Target GAAP 65.4% 63.1% 58.3% 59.2% 61.6% 64.7% 69.0% 61.9% 59.0% Non-GAAP Adjustments 0.0% 0.0% 0.0% 0.0% 4.0% 6.8% 9.6% 2.8% 1.2% Operating 65.4% 63.1% 58.3% 59.2% 57.6% 57.8% 59.4% 59.1% 57.8% 57.0% 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

ucbi.com | 15 $61.0 $65.4 $73.8 $75.0 $74.9 $30 $40 $50 $60 $70 $80 2Q15 3Q15 4Q15 1Q16 2Q16 4.24% 4.29% 4.15% 2.12% 2.32% 2.45% 0.17% 0.16% 0.18% 0% 1% 2% 3% 4% 5% 2Q15 3Q15 4Q15 1Q16 2Q16 0.16% 0.17% 0.17% 0.20% 0.24% 0.26% 0.10% 0.10% 0.10% .00% .05% .10% .15% .20% .25% .30% 2Q15 3Q15 4Q15 1Q16 2Q16 3.30% 3.26% 3.34% 3.41% 3.35% 3.00% 3.25% 3.50% Increasing Profitability Key Drivers of Net Interest Revenue / Margin ucbi.com | 15 Net Interest Revenue Key Drivers Net Interest Revenue & Margin (1) 2Q16 Impacted By NET INTEREST REVENUE ► Strong loan growth offset by margin decline ► Margin compression due to lower accretable interest (3bp) and loan pricing pressures (3bp) Millions Loan / Securities / Deposit Pricing 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 CDs MMDA NOW

ucbi.com | 16 Increasing Profitability Fee Revenue ucbi.com | 16 Driving Fee Revenue Through Core Banking Infrastructure 8.4 9.3 11.5 10.1 10.5 2.5 2.3 3.4 2.9 4.6 1.2 1.2 1.1 1.1 1.1 3.7 3.8 3.3 3.3 4.5 1.5 1.7 2.0 1.2 2.8 $0 $5 $10 $15 $20 $25 2Q15 3Q15 4Q15 1Q16 2Q16 Fee Revenue in millions Service Charges Other Brokerage Mortgage SBA $17.3 $18.3 $21.3 $18.6 $23.5 $3.7 $3.8 $3.3 $3.3 $4.5 $0 $1 $2 $3 $4 $5 2Q15 3Q15 4Q15 1Q16 2Q16 Mortgage Fees and Production (1) in millions $128 $141 $138 $146 $182 $- $50 $100 $150 $200 (1 ) Applicable periods include Palmetto and FNB production since respective acquisition dates SBA ► 2Q16 Sales $33 million ► 2015 Sales $71 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 $1.5 $1.7 $2.0 $1.2 $2.8 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 2Q15 3Q15 4Q15 1Q16 2Q16 SBA Fees (Gains ) and Production (1) in millions $31 $26 $28 $28 $45 $- $10 $20 $30 $40 $50

ucbi.com | 17 Generating Growth New Loans Funded and Advances (1) $ in millions ucbi.com | 17 2Q16 1Q16 2Q15 1Q16 2Q15 Commercial & Industrial 168.4$ 133.9$ 143.1$ 34.5$ 25.3$ Owner-Occupied CRE 80.9 74.3 79.3 6.6 1.6 Income-Producing CRE 132.3 86.3 73.5 46.0 58.8 Commercial Constr. 11.0 11.0 4.6 - 6.4 Total Commercial 392.6 305.5 300.5 87.1 92.1 Residential Mortgage 54.5 41.4 37.3 13.1 17.2 Residential HELOC 68.2 51.1 43.6 17.1 24.6 Residential Construction 79.3 72.6 50.9 6.7 28.4 Consumer 67.4 91.7 93.8 (24.3) (26.4) Total 662.0$ 562.3$ 526.1$ 99.7$ 135.9$ Variance-Incr(Decr) (1) Represents new loans funded and net loan advances (net of payments on lines of credit) New Loans Funded and Advances $526.1 $452.0 $590.0 $562.3 $662.0 $400 $450 $500 $550 $600 $650 $700 2Q15 3Q15 4Q15 1Q16 2Q16 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 2Q16 1Q16 2Q15 1Q16 2Q15 Atlanta 141.6$ 89.0$ 116.9$ 52.6$ 24.7$ Coastal Georgia 42.7 39.2 48.9 3.5 (6.2) North Georgia 59.8 51.3 66.7 8.5 (6.9) North Carolina 27.6 30.4 27.6 (2.8) - Tennessee 45.8 27.7 17.7 18.1 28.1 Gainesville 12.5 12.5 12.4 - 0.1 South Carolina 103.0 97.5 6.2 5.5 96.8 Total Community Banks 433.0 347.6 296.4 85.4 136.6 Asset-based Lending 10.8 30.0 4.2 (19.2) 6.6 Commercial RE 44.8 22.8 16.3 22.0 28.5 Healthcare - - 55.4 - (55.4) Middle Market 56.7 32.8 22.7 23.9 34.0 SBA 44.6 28.0 31.2 16.6 13.4 Builder Finance 31.2 31.4 22.6 (0.2) 8.6 Total Specialized Lending 188.1 145.0 152.4 43.1 35.7 Indirect Auto 40.9 69.7 77.3 (28.8) (36.4) Total 662.0$ 562.3$ 526.1$ 99.7$ 135.9$ Variance-Incr(Decr)

ucbi.com | 18 2012 2013 2014 2015 2Q16 North Georgia 1,364$ 1,240$ 1,163$ 1,125$ 1,097$ Atlanta MSA 1,204 1,235 1,243 1,259 1,314 North Carolina 579 572 553 549 543 Coastal Georgia 400 423 456 537 541 Gainesville MSA 261 255 257 254 240 East Tennessee (1) 283 280 280 504 509 South Carolina (2) - 4 30 819 862 Total Community Banks 4,091 4,009 3,982 5,047 5,106 Specialized Lending 46 124 421 492 706 Indirect Auto (3) 38 196 269 456 475 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,287$ Generating Growth Loan Mix $4.18 $4.33 $4.67 $6.00 $6.29 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2012 2013 2014 2015 2Q16 Billions Commercial Construction Income-Producing Commercial Real Estate Owner-Occupied Commercial Real Estate Commercial & Industrial Indirect Auto Residential HELOC Residential Mortgage Residential Construction Consumer Commercial Retail 2012 2013 2014 2015 2Q16 Commercial & Industrial 458$ 472$ 710$ 785$ 926$ Owner-Occupied CRE 1,131 1,134 1,163 1,494 1,450 Income-Producing CRE 682 623 599 824 919 Commercial Constr. 155 149 196 342 384 Total Commercial 2,426 2,378 2,668 3,445 3,679 Residential Mortgage 829 875 866 1,029 1,035 Residential HELOC 385 441 466 598 623 Residential Construction 382 328 299 352 351 Consumer 115 111 104 115 124 Indirect Auto 38 196 269 456 475 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,287$ ucbi.com | 18 (1) Includes $244 million from the acquisition of FNB on May 1, 2015 (2) Includes $733 million from the acquisition of Palmetto on September 1, 2015 (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

ucbi.com | 19 2012 2013 2014 2015 2Q16 2012 2013 2014 2015 2Q16 Non-Interest Bearing Core Demand Deposit 232$ 123$ 161$ 618$ 142$ Demand Deposit 1,188$ 1,311$ 1,471$ 2,089$ 2,231$ NOW (65) 4 9 441 (43) MMDA 115 73 41 325 42 Interest Bearing Core Savings 29 24 41 177 31 Total CommercialNOW 654 659 668 1,109 1,066 Growth by Category 311$ 224$ 252$ 1,561$ 172$ MMDA 1,145 1,218 1,259 1,584 1,626 Savings 226 250 292 469 500 Atlanta MSA 160$ 75$ 84$ 223$ 70$ Total Interest Bearing Core 2,025 2,127 2,219 3,162 3,192 North Georgia 41 62 90 158 65 North Carolina 47 42 35 63 25 Total Core Trans Deposits 3,213 3,438 3,690 5,251 5,423 Coastal Georgia 38 2 22 24 1 East Tennessee (1) 9 4 8 234 (34) Time (Customer) 1,724 1,445 1,223 1,251 1,154 Gainesville MSA 16 19 10 34 13 Public Funds (Customer) 770 894 989 1,032 868 South Carolina (2) - 20 3 825 32 Brokered 245 412 425 347 412 Growth by Region 311$ 224$ 252$ 1,561$ 172$ Total LoansTotal Deposits 5,952$ 6,189$ 6,327$ 7,881$ 7,857$ Generating Growth Customer Deposit Mix $5.71 $5.78 $5.90 $7.53 $7.45 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 2012 2013 2014 2015 2Q16 Billions Public Funds (customer) Time (customer) Interest Bearing Core Transaction Non-Interest Bearing Core Transaction Time & Public Core Transaction ucbi.com | 19 Deposits by Category i n millions Core Transaction Deposit Growth by Category & Region i n millions (1) Includes $ 247 million from the acquisition of FNB on May 1, 2015 (2) Includes $790 million from the acquisition of Palmetto on September 1, 2015

ucbi.com | 20 $ 2.02 $ 2.13 $2.22 $3.16 $3.19 $1.19 $1.31 $1.47 $2.09 $2.23 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2012 2013 2014 2015 2Q16 in billions Non-Interest Bearing Core Transaction Interest Bearing Core Transaction $3.21 $3.44 $3.69 $5.25 $5.42 ucbi.com | 20 High - Quality, Low - Cost Core Transaction Deposit Base 0.50% 0.17% 0.17% 0.00% 0.25% 0.50% 0.75% 1.00% 2012 2013 2014 2015 2Q16 Cost of Interest Bearing Deposits Generating Growth Customer Deposit Mix

ucbi.com | 21 Generating Growth Acquisition of Tidelands Bancshares, Inc. ucbi.com | 21 Combined Branch Map INTERSTATE 26 INTERSTATE 95 Myrtle Beach Garden City Beach North Charleston Summerville Charleston Hilton Head Island Savannah United Community Banks, Inc. (134) Tidelands Bancshares, Inc . (7) Transaction Summary Company Overview Headquarters Mt. Pleasant, SC Established 2003 Branches (7) Charleston (4) Myrtle Beach (2) Hilton Head (1) Assets ($MM) $446 Total Gross Loans ($MM) $321 Deposits ($MM) $398 NPAs / Assets (1) 4.40% • Announced on April 4, 2016 and closed on July 1, 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 • Total credit mark: $22.7 million ‒ Loan mark of $16.3 million gross or 5.0% of gross loans ‒ OREO mark of $6.4 million or 50% 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 • Pro forma Tier 1 common of 11.5%+ • 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 Source: SNL Financial - Financial M etrics as of December 31, 2015

ucbi.com | 22 ucbi.com | 22 EXHIBITS

ucbi.com | 23 United Community Banks, Inc. ucbi.com | 23 Who We Are 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 ► Announced 1.10% ROA (operating) target by 4Q16, up from current 1.07% level ► 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) ► Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth ► Addition of Specialized Lending platforms (income - property lending, asset - based lending, SBA lending, builder finance) and actively pursuing additional platforms ► Acquisitions that fit our footprint and culture and deliver desired financial returns

ucbi.com | 24 Protecting High - Quality Balance Sheet ucbi.com | 24 Granular Portfolio – Exposure and Industry Limits • Legal Lending Limit $ 251M • House Lending Limit 28M • Project Lending Limit 17M • Top 25 Relationships 378M 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 • Centralized consumer collections • Bi - weekly Potential NAL and NAL/ORE meetings • Quarterly criticized watch loan review meetings • Quarterly portfolio review meetings Consistent Underwriting Disciplined Credit Processes Concentration limits set for all segments of the portfolio

ucbi.com | 25 Protecting High - Quality Balance Sheet ucbi.com | 25 Loan Portfolio Transformation and Diversification 7% 9% 12% 16% 26% 27% 3% Portfolio as of 12/31/2008 Commercial (C&l) Commercial Construction CRE Income Producing CRE Owner-Occupied Residential Construction Residential Mortgage Installment 15% 6% 15% 23% 6% 26% 9% Portfolio as of 6/30/2016 Commercial (C&I) Commercial Construction CRE Income Producing CRE Owner-Occupied Residential Construction Residential Mortgage & HELOC Installment ► Specialized Lending, which began in 2013, had loans totaling $706 million at June 30, 2016 (11% of the loan portfolio).

ucbi.com | 26 Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Source: SNL Financial LC Protecting High - Quality Balance Sheet Excellent Credit Performance and Management ucbi.com | 26 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% CBSH BOH UMPQ PB SIVB UCBI UMBF CBU CVBF BPFH SBNY VLY FFBC PVTB FFIN FMER WABC WTFC EWBC PNFP ISBC COLB BRKL CATY FNB CHCO FMBI WBS FNFG WAFD PACW PFS BXS FULT SNV STBA BOKF FHN FCF GBCI MBFI TCBI ONB UBSI ASB TRMK HBHC TCB PRK 1Q16 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 | 27 Protecting High - Quality Balance Sheet Performing Classified Loans ucbi.com | 27 By Category $ in millions 2Q15 3Q15 4Q15 1Q16 2Q16 Commercial & Industrial 6$ 6$ 6$ 9$ 9$ Owner-Occupied CRE 40 42 40 33 33 Total Commercial & Industrial 46 48 46 42 42 Income-Producing CRE 19 30 30 30 28 Commercial Construction 3 3 1 1 2 Total Commercial 68 81 77 73 72 Residential Mortgage 30 36 31 33 32 Residential HELOC 6 7 7 6 6 Residential Construction 10 10 11 7 7 Consumer / Installment 2 2 2 2 2 Total Performing Classified 116$ 136$ 128$ 121$ 119$ Classified to Tier 1 + ALL 18% 18% 17% 16% 15% $116 $136 $128 $121 $119 $110 $130 $150 2Q15 3Q15 4Q15 1Q16 2Q16

ucbi.com | 28 $86.1 $84.6 $83.0 $72.8 $73.3 $70 $75 $80 $85 $90 2Q15 3Q15 4Q15 1Q16 2Q16 Protecting High - Quality Balance Sheet TDRs ucbi.com | 28 $ in millions LOAN TYPE 2Q16(1) 1Q16 2Q15 2Q16(1) 1Q16 2Q15 2Q16(1) 1Q16 2Q15 Commercial & Industrial 2.1$ 2.2$ 3.6$ -$ -$ -$ 2.1$ 2.2$ 3.6$ Owner-Occupied CRE 24.7 24.7 31.9 1.4 2.6 1.5 26.1 27.3 33.4 Income-Producing CRE 20.7 20.5 15.6 - .2 .1 20.7 20.7 15.7 Commercial Construction 1.3 1.4 11.1 .1 .1 - 1.4 1.5 11.1 Total Commercial 48.8 48.8 62.2 1.5 2.9 1.6 50.3 51.7 63.8 Residential Mortgage 18.2 17.9 17.5 1.3 1.2 1.6 19.5 19.1 19.1 Residential HELOC .1 - .5 - - .1 0.1 - 0.6 Residential Construction 5.2 5.2 5.8 .3 .1 .5 5.5 5.3 6.3 Consumer / Installment 1.0 .9 .1 .2 .2 - 1.2 1.1 0.1 Total TDRs 73.3$ 72.8$ 86.1$ 3.3$ 4.4$ 3.8$ 76.6$ 77.2$ 89.9$ Accruing Non-Accruing Total TDRs Accruing TDRs ► 2.2% of accruing TDRs are past due 30 – 89 days ► 57% of accruing TDRs are pass credits (1) 83% of accruing TDR loans have an interest rate of 4% or greater

ucbi.com | 29 Protecting High - Quality Balance Sheet Commercial Real Estate Diversification ucbi.com | 29 Multi-Residential 155$ 22.9 % 83$ 21.6 % Retail Building 108 16.0 59 15.4 Other Properties 68 10.0 38 9.9 Land Develop - Vacant (Improved) 60 8.9 50 13.0 Office Buildings 51 7.5 19 5.0 Commercial Land Development 45 6.6 38 9.9 Raw Land - Vacant (Unimproved) 40 5.9 31 8.1 Warehouse 38 5.6 23 6.0 Hotels / Motels 37 5.5 27 7.0 Assisted Living/Nursing Home/Rehab 28 4.1 8 2.1 Churches 21 3.1 2 0.5 Leasehold Property 18 2.7 2 0.5 Restaurants / Franchise 8 1.2 4 1.0 Total Commercial Construction 677$ 100.0 % 384$ 100.0 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Retail Building 260$ 27.3 % 250$ 27.2 % Office Buildings 254 26.6 248 27.0 Warehouse 102 10.7 95 10.3 Hotels / Motels 84 8.8 82 8.9 Multi-Residential 70 7.3 68 7.4 Other Properties 62 6.5 54 5.9 Convenience Stores 45 4.7 44 4.8 Restaurants / Franchise Fast Food 34 3.6 34 3.7 Manufacturing Facility 16 1.7 17 1.9 Leasehold Property 8 0.9 7 0.8 Automotive Service 7 0.7 7 0.8 Daycare Facility 5 0.5 5 0.5 Mobile Home Parks 4 0.4 5 0.5 Automotive Dealership 3 0.3 3 0.3 Total Commercial Real Estate - Income Producing 954$ 100.0 % 919$ 100.0 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $731 • Commercial RE: • Composite CRE 498 • Owner - Occupied 417 • Income - Producing 721 Committed Average Loan Size (in thousands ) • Commercial Construction $1,277 • Commercial RE: • Composite CRE 520 • Owner - Occupied 438 • Income - Producing 744

ucbi.com | 30 Protecting High - Quality Balance Sheet Liquidity ucbi.com | 30 Capacity 2Q16 1Q16 2Q15 vs 1Q16 vs 2Q15 WHOLESALE BORROWINGS Brokered Deposits (1) 993$ 412$ 440$ 530$ (28)$ (118)$ FHLB 1,062 735 510 385 225 350 Holding Company LOC 50 - - - - - Fed Funds 675 - - 25 - (25) Other Wholesale 1,190 - - - - - Total 3,970$ 1,147$ 950$ 940$ 197$ 207$ LONG-TERM DEBT Senior Debt 160$ 160$ 75$ -$ 85$ Trust Preferred Securities 6 6 39 - (33) Total Long-Term Debt 166$ 166$ 114$ -$ 52$ Cash 62$ 71$ 40$ (9)$ 22$ Loans / Deposits Loans 6,287$ 6,106$ 5,174$ 181$ 1,113$ Core (DDA, MMDA, Savings) 5,423$ 5,364$ 4,253$ 59$ 1,170$ Public Funds 868 952 803 (84) 65 CD's 1,154 1,204 1,222 (50) (68) Total Customer Deposits (excl Brokered) 7,445$ 7,520$ 6,278$ (75)$ 1,167$ Loan to Customer Deposit Ratio 84% 81% 82% Investment Securities Available for Sale -Fixed 1,714$ 1,783$ 1,282$ (69)$ 432$ -Floating 622 622 660 - (38) Held to Maturity -Fixed 338 348 376 (10) (38) -Floating 4 4 4 - - Total Investment Securities 2,678$ 2,757$ 2,322$ (79)$ 356$ Floating as % of Total Securities 23% 23% 29% Wholesale Borrowings Holding Company Long - Term Debt / Cash Investment Securities (1) Estimated brokered deposit total capacity at 10% of assets $ in millions Loans / Customer Deposits

ucbi.com | 31 Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Source: SNL Financial LC Increasing Profitability High - Quality, Low - Cost Core Deposit Base ucbi.com | 31 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% CFR COLB WABC FFIN BOH CVBF UCBI CBU UMBF UCBI CBSH FMBI TRMK FCF ONB FHN UMPQ BOKF WAL MBFI BXS PRK PACW ASB PB TCBI PFS HBHC WTFC GBCI FNB WBS BPFH PNFP EWBC SNV FULT IBKC UBSI STBA PVTB FFBC OZRK TCB CHCO SBNY BRKL VLY WAFD CATY ISBC BKU 1Q16 Cost of Deposits Median ► Core deposits (excludes non - Jumbo CDs / Brokered) comprised approximately 90% of our total deposits at March 31, 2016 ► Our first quarter 2016 total cost of deposits was 11 basis points, which compared favorably to peers with a median of 25 basis points

ucbi.com | 32 Generating Growth ucbi.com | 32 Steady Loan Growth $4.18 $4.33 $4.52 $4.96 $1.04 $3.00 $4.00 $5.00 $6.00 2012 2013 2014 2015 2Q16 Total Loans in billions Organic Acquired Healthcare (sold 4Q15) $6.00 $0.16 $4.68 $6.29 10% Annualized Growth 10% Growth

ucbi.com | 33 Generating Growth Market Share Opportunities ucbi.com | 33 (1) FDIC deposit market share and rank as of June 30, 2015 for markets where United takes deposits. Data Source: FDIC. (2) Based on current quarter. (3) Excludes seven loan production offices $ in billions (1) (2) (3) (1) (1) North Georgia $ 6.6 $ 2.3 9 22 37% 1 Atlanta, Georgia 60.8 2.3 10 36 4 6 Gainesville, Georgia 3.0 0.4 1 5 12 4 Coastal Georgia 8.0 0.3 2 7 3 9 Western North Carolina 11.8 1.0 1 19 8 4 East Tennessee 16.3 0.5 2 12 4 5 Upstate South Carolina 21.0 1.1 4 25 5 7 Total Markets, June 30, 2016 $ 127.5 $ 7.9 29 126 Coastal South Carolina 20.0 0.4 1 7 2 13 Total Markets, June 30, 2016 (pro forma) $ 147.5 $ 8.3 30 133 Market Deposits United Deposits Deposit Share Excellent Growth Opportunities Banks Offices Rank

ucbi.com | 34 Generating Growth Market Share Demographics ucbi.com | 34 3.35% 4.23% 4.96% 5.70% 6.38% 6.49% 6.91% 8.47% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% Knoxville, TN Cleveland, TN Asheville, NC Greenville, SC Atlanta, GA Gainesville, GA Savannah, GA Charleston, SC Key MSA Growth Markets Projected Change 2016 - 2021 3.69% 3.82% 4.84% 4.93% 5.40% 0% 1% 2% 3% 4% 5% 6% United States Tennessee Georgia North Carolina South Carolina State Population Growth Projected Change 2016 – 2021 Source: SNL Financial

ucbi.com | 35 Mergers & Acquisitions Strategy ► 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 | 35 Generating Growth

ucbi.com | 36 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 2016 and 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 will be fully realized in 2Q16 • Double - digit EPS accretion in 2017 with TBV earnback < 5 years and IRR > 20% UCBI Palmetto 2015 Acquisitions ucbi.com | 36 MoneyTree Corp./FNB The Palmetto Bank Generating Growth

ucbi.com | 37 United Community Banks, Inc. ucbi.com | 37 $10 Billion and Beyond Primary Regulatory Implications ► Durbin Amendment under the Dodd - Frank Act (“DFA”) (debit card interchange revenue) – EPS impact of $.02 per quarter ► FDIC insurance premiums ► Stress testing ► Oversight by Consumer Financial Protection Bureau (CFPB) Effective Dates ► Measurement date of Durbin Amendment is a snapshot of total assets as of every December 31 ► Other DFA requirements triggered after maintaining $10 billion+ in assets for four consecutive quarters Plan to Offset Projected Financial Impact ► Company - wide project led by Chief Strategy Officer • Comprehensive approach covering all areas of the Company • Project management discipline and methodology ► Currently identifying both operating revenue and expense reduction opportunities ► M&A will also be a factor • One larger or several smaller acquisitions could be accomplished in the available timeframe ► Capital management levers also available Summary ► Planning based upon assumption that we will exceed $10 billion as of December 31, 2016 • Absent M&A, may exceed in early 2017 (have the ability to reduce securities and wholesale funding) ► Earliest financial impact begins July 1, 2017 ► We have time to prepare based on current asset projections and DFA effective dates ► We are proactively working to increase revenues and decrease expenses to offset the projected impact, using a disciplined approach and defined project plan ► We have a proven track record of executing on initiatives to improve efficiency and financial results 6/30/2016 < $10 billion Assets 12/31/2016 Anticipated > $10 billion Assets 9/30/2017 If triggered in 2016, 3Q17 will be first full quarter of decreased interchange income

ucbi.com | 38 Experienced Proven Leadership 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 $9.9 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 35 years in banking • Responsible for accounting, finance and reporting activities, M&A and investor relations • Former CAO and Controller for State Street Corporation • Former ABA Accounting Committee Chairman • Over 35 years in banking • Responsible for 30 community banks with 133 branch 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, Specialized Lending Joined 2014 • Over 25 years in lending • Responsible for specialized lending • 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 | 38 Rex S. Schuette EVP & CFO Joined 2001

ucbi.com | 39 2Q15 3Q15 4Q15 1Q16 2Q16 Net Income Net income - GAAP 17,813$ 17,887$ 18,208$ 22,295$ 25,266$ Merger-related and other charges 3,173 5,744 9,078 2,653 1,176 Tax benefit on merger-related and other charges (997) (1,905) (3,486) (1,004) (445) Net income - Operating 19,989$ 21,726$ 23,800$ 23,944$ 25,997$ Diluted Earnings per share Diluted earnings per share - GAAP 0.28$ 0.27$ 0.25$ 0.31$ 0.35$ Merger-related and other charges 0.04 0.06 0.08 0.02 0.01 Diluted earnings per share - Operating 0.32$ 0.33$ 0.33$ 0.33$ 0.36$ Return on Assets Return on assets - GAAP 0.89 % 0.82 % 0.76 % 0.93 % 1.04 % Merger-related and other charges 0.11 0.18 0.23 0.07 0.03 Return on assets - Operating 1.00 % 1.00 % 0.99 % 1.00 % 1.07 % Return on Tangible Common Equity Return on common equity - GAAP 8.83 % 7.85 % 7.02 % 8.57 % 9.54 % Effect of merger-related charges 1.07 1.69 2.16 0.63 0.27 Return on common equity - Operating 9.90 9.54 9.18 9.20 9.81 Effect of goodwill and intangibles 0.30 0.75 1.69 1.71 1.75 Return on tangible common equity - Operating 10.20 % 10.29 % 10.87 % 10.91 % 11.56 % Expenses Expenses - GAAP 48,420$ 54,269$ 65,488$ 57,885$ 58,060$ Merger-related charges (3,173) (5,744) (3,109) (2,653) (1,176) Impairment charge on real estate held for future use - - (5,969) - - Expenses - Operating 45,247$ 48,525$ 56,410$ 55,232$ 56,884$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 28,937$ 28,754$ 29,260$ 35,873$ 40,655$ Merger-related charges 3,173 5,744 3,109 2,653 1,176 Impairment charge on real estate held for future use - - 5,969 - - Provision for credit losses 900 700 300 (200) (300) Pre-Tax, Pre-Credit Earnings - Operating 33,010$ 35,198$ 38,638$ 38,326$ 41,531$ Efficiency Ratio Efficiency Ratio - GAAP 61.63 % 64.65 % 68.97 % 61.94 % 59.02 % Merger-related and other charges (4.04) (6.84) (9.56) (2.84) (1.20) Efficiency Ratio - Operating 57.59 % 57.81 % 59.41 % 59.10 % 57.82 % Non - GAAP Reconciliation Tables $ in thousands, except per share data ucbi.com | 39