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):
April 24, 2018

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

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

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

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

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

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

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

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

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

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

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

Emerging growth company ¨

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

Item 2.02

Results of Operations and Financial Condition.

On April 24, 2018, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended March 31, 2018 (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 April 25, 2018 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 First Quarter 2018 Investor Presentation (the “Investor Presentation”), which was posted to the Registrant’s website at www.ucbi.com on April 24, 2018. 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 information contains financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. The financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “operating net income,” “operating net income per diluted share,” “operating earnings per diluted share,” “tangible book value per common share,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk-weighted assets.” These non-GAAP measures are included because Management believes they may provide useful supplemental information for evaluating Management’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 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 April 24, 2018

99.2		Investor Presentation, First Quarter 2018

SIGNATURES

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

	UNITED COMMUNITY BANKS, INC.


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

Date: April 24, 2018

Exhibit 99.1

For Immediate Release

For more information:

Jefferson Harralson

Chief Financial Officer

(864) 240-6208

Jefferson_Harralson@ucbi.com

UNITED COMMUNITY BANKS, INC.

ANNOUNCES FIRST QUARTER EARNINGS

Earnings per diluted share up 42 percent to 47 cents from first quarter 2017

Excluding merger-related and other non-operating charges,

diluted operating earnings per share up 28 percent, to 50 cents

●

Return on assets of 1.26 percent, or 1.33 percent excluding merger-related and other charges

●

Return on common equity of 11.1 percent, return on tangible common equity of 15.3 percent excluding merger-related and other charges

●

Net interest revenue of $103.3 million, up $19.7 million or 24 percent from year ago

●

Net interest margin of 3.80 percent, up 17 basis points from fourth quarter 2017 and up 35 basis points from year ago

●

Efficiency ratio of 57.8 percent, or 55.8 percent excluding merger-related and other charges

●

Completed the acquisition of Navitas Credit Corp. during the quarter

BLAIRSVILLE, GA – April 24, 2018 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced its first quarter 2018 financial results reflecting solid margin improvement, effective and disciplined expense management, an acceleration of loan growth and the continuation of sound credit quality. Net income was $37.7 million, or 47 cents per diluted share, compared with $23.5 million, or 33 cents per diluted share, for the first quarter of 2017.

On an operating basis, net income rose to $39.7 million for the first quarter of 2018 compared with $28.2 million for the first quarter of 2017. First quarter 2018 operating net income excludes pre-tax merger-related charges totaling $2.50 million and pre-tax charges related to branch closures completed during the quarter of $147,000. The income tax benefit from these non-operating charges was $628,000. First quarter 2017 operating net income excludes pre-tax merger-related charges of $1.17 million and pre-tax charges related to branch closures of $831,000. The income tax benefit associated with the charges was $758,000. Also excluded from first quarter 2017 operating earnings is a non-cash tax charge of $3.4 million related to the cancellation of interest rate swaps that were designated as cash flow hedges. The non-cash tax charge was previously included in other comprehensive income until the swaps matured or were canceled.

At March 31, 2018, preliminary regulatory capital ratios were as follows: Tier 1 Risk-Based of 11.7 percent; Total Risk-Based of 13.6 percent; Common Equity Tier 1 Risk-Based of 11.3 percent, and Tier 1 Leverage of 9.1 percent.

“Our first quarter earnings are a strong start to what we expect will be another exceptional year for United Community Banks, Inc.,” said Jimmy Tallent, chairman and chief executive officer. “Our bankers excelled in nearly every financial measure, reporting solid improvement in return on assets, return on tangible common equity, operating efficiency and more. Operating return on assets was 1.33% for the first quarter, up 23 basis points from fourth quarter and only seven basis points from our goal of 1.40%. Our operating efficiency ratio was 55.7%, our best ever, which is a credit to our bankers who work hard to provide the best customer service in an efficient and cost-effective manner.”

Tallent continued, “In the first quarter, we not only announced a merger with NLFC Holdings Corp. and its wholly-owned subsidiary, Navitas Credit Corp., but we completed the merger on February 1. With headquarters in Ponte Vedra, Florida, Navitas is a premier specialty lender providing equipment finance services to small and medium-sized businesses nationwide that will continue to operate under the Navitas name. This fast-growing company is a solid strategic addition to our existing specialty and commercial lending businesses and enables us to further expand our client offerings. This partnership brings exceptional growth and a significant profitability enhancement to United and is a solid win for both of us. I am excited to welcome this talented team of industry veterans to United Community Bank.

“First quarter loan production was $665.8 million with $427 million originating from our community banks and $238 million from our Commercial Banking Solutions group, which now includes our newly acquired Navitas subsidiary,” Tallent added. “Linked-quarter loans were up $448 million, mostly reflecting the $379 million in net loans received through our acquisition of Navitas. Our indirect auto loan portfolio was down $42.3 million from fourth quarter, reflecting our decision to suspend indirect auto loan purchases. Excluding the reduction in indirect auto loans and the loans acquired through the Navitas acquisition, loan growth was up at an annualized rate of approximately 6 percent from the fourth quarter.”

First quarter net interest revenue totaled $103.3 million, up $19.7 million from the first quarter of 2017 and up $5.78 million from the fourth quarter of 2017. The increases from both periods reflect acquisitions, business growth and net interest margin expansions of 35 basis points from a year ago and 17 basis points from the fourth quarter of 2017. Rising short-term interest rates and the acquisitions of Four Oaks Bank & Trust Company on November 1, 2017, and Navitas on February 1, 2018 contributed to the linked quarter net interest margin expansion as well as the increase in net interest revenue. The acquisition of Horry County State Bank on July 31, 2017 also contributed to the increase from a year ago. Acquired company results are included in United’s financial results beginning on their respective acquisition dates.

The first quarter provision for credit losses was $3.8 million compared to net charge-offs of $1.5 million. Included in the first quarter provision for credit losses was $2.3 million resulting from including Navitas’ loans and leases in our allowance for loan and lease losses model. Because Navitas’ loans and leases were recorded at a net premium of approximately $5.62 million, the allowance for loan and lease losses model required us to establish an allowance sufficient to cover credit losses inherent in the Navitas portfolio. This additional provision related to the Navitas loans and leases is in addition to $3.9 million of non-accretable discount included in the fair value mark on Navitas’ acquired loans and leases providing a conservative $6.2 million of loss absorbing capacity on the acquired Navitas portfolio.

As mentioned, first quarter net charge-offs totaled $1.5 million, down from $1.7 million in the first quarter of 2017 and up $440,000 from the fourth quarter of 2017. Contributing to the low level of net charge-offs were continued strong recoveries of previously charged-off loans. Nonperforming assets were 0.24 percent of total assets at March 31, 2018, compared with 0.23 percent at both December 31, 2017 and March 31, 2017.

“Credit quality remains strong and steady as indicated by the low level of net charge-offs,” Tallent commented. “Our credit quality indicators show no indication of credit deterioration and our outlook is for that to continue. Although our first quarter provision was elevated due to the acquisition of Navitas, we expect our provision levels to return to the range of our more recent quarterly experience with gradual increases each quarter due to loan growth. We expect our allowance and the related ratio to total loans may continue to decline slightly.”

First quarter fee revenue totaled $22.4 million, up $322,000 from a year ago and $468,000 from the fourth quarter of 2017. Included in first quarter 2018 fee revenue are $940,000 in losses from securities sales. The securities losses were part of a larger balance sheet management strategy that included the cancellation of $289 million notional in interest rate caps as well as the partial cancellation of other hedging instruments. The derivative cancellations resulted in gains of $1.16 million, which are included in other fee revenue. The securities losses and gains from derivative activities are mostly offsetting.

Mortgage fees were up $935,000 from a year ago and $474,000 from the fourth quarter of 2017, reflecting strong origination and rate lock activity as well as a favorable mark on our mortgage servicing asset. In the first quarter we closed 799 loans totaling $191 million compared with 795 loans totaling $197 million in the fourth quarter and 697 loans totaling $151 million in the first quarter of 2017.

Operating expenses were $73.5 million for the first quarter, compared with $62.8 million for the first quarter of 2017 and $75.9 million for the fourth quarter. Included in the first quarter’s operating expenses are $2.65 million in merger-related and branch closure expenses. We also had merger-related and branch closure charges of $2.05 million in the first quarter of 2017, and $7.36 million in merger-related expenses in the fourth quarter of 2017. Excluding these charges, first quarter operating expenses were $70.8 million compared with $68.5 million for the fourth quarter and $60.8 million a year ago. The increases from a year ago and from the fourth quarter of 2017 primarily result from the acquisitions of Navitas on February 1, 2018, Four Oaks Bank & Trust Company on November 1, 2017 and Horry County State Bank on July 31, 2017. Operating expenses of acquired companies are included in United’s consolidated operating expenses beginning on their respective acquisition dates.

Tallent concluded, “As our first quarter financial results demonstrate, we are off to a great start for 2018. United Community Banks operates in some of the most attractive markets in the United States, has an extraordinarily talented management team and the best bankers in the business. I could not be more confident in the future of this company and I eagerly anticipate the successes that will be achieved in the quarters ahead. Every day our bankers demonstrate their passion and commitment which drive our performance and ensure our success. This is a legacy I take great pride in.”

Conference Call

United will hold a conference call, Wednesday, April 25, 2018, at 11 a.m. ET to discuss the contents of this press release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 8494547. The conference call also will be webcast and available for replay for 30 days by selecting “Events & Presentations” within the Investor Relations section of United’s website at www.ucbi.com.

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company based in Blairsville, Georgia with $12.3 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 151 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United Community Bank for outstanding customer service. For the last four years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2018, for the fifth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures

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

Caution About Forward-Looking Statements

Certain Statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about future events or results or otherwise and are not statements of historical fact. Such statements are often characterized by the use of qualified words (and their derivatives) such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or words of similar meaning or other statements concerning opinions or judgments of United and its management about future events. Although United believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of United will not differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements; such statements are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. Actual future results and trends may differ materially from historical results and or those anticipated depending on a variety of factors, including, but not limited to the factors and risk influences contained in the cautionary language included under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in United’s Form 10-K for the year ended December 31, 2017 and other periodic reports subsequently filed by United with the SEC, available on the SEC website, www.sec.gov. For any forward-looking statements made in this press release, United claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

# # #

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Selected Financial Information

																First
	2018			2017												Quarter
	First			Fourth			Third			Second			First			2018-2017
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change
INCOME SUMMARY
Interest revenue	$	115,290		$	106,757		$	98,839		$	93,166		$	90,958
Interest expense		12,005			9,249			9,064			8,018			7,404
Net interest revenue		103,285			97,508			89,775			85,148			83,554			24	%
Provision for credit losses		3,800			1,200			1,000			800			800
Fee revenue		22,396			21,928			20,573			23,685			22,074			1
Total revenue		121,881			118,236			109,348			108,033			104,828			16
Expenses		73,475			75,882			65,674			63,229			62,826			17
Income before income tax expense		48,406			42,354			43,674			44,804			42,002			15
Income tax expense		10,748			54,270			15,728			16,537			18,478			(42	)
Net income		37,658			(11,916	)		27,946			28,267			23,524			60
Merger-related and other charges		2,646			7,358			3,420			1,830			2,054
Income tax benefit of merger-related and other charges		(628	)		(1,165	)		(1,147	)		(675	)		(758	)
Impact of remeasurement of deferred tax asset resulting from 2017 Tax Cuts and Jobs Act		-			38,199			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			3,400
Net income - operating ⁽¹⁾	$	39,676		$	32,476		$	30,219		$	29,422		$	28,220			41

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.47		$	(.16	)	$	.38		$	.39		$	.33			42
Diluted net income - operating ⁽¹⁾		.50			.42			.41			.41			.39			28
Cash dividends declared		.12			.10			.10			.09			.09			33
Book value		17.02			16.67			16.50			15.83			15.40			11
Tangible book value ⁽³⁾		12.96			13.65			14.11			13.74			13.30			(3	)

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		11.11	%		(3.57	)%		9.22	%		9.98	%		8.54	%
Return on common equity - operating ^(1)(2)(4)		11.71			9.73			9.97			10.39			10.25
Return on tangible common equity - operating ^(1)(2)(3)(4)		15.26			11.93			11.93			12.19			12.10
Return on assets - GAAP ⁽⁴⁾		1.26			(.40	)		1.01			1.06			.89
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.33			1.10			1.09			1.10			1.07
Dividend payout ratio - GAAP		25.53			(62.50	)		26.32			23.08			27.27
Dividend payout ratio - operating ⁽¹⁾		24.00			23.81			24.39			21.95			23.08
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.80			3.63			3.54			3.47			3.45
Efficiency ratio - GAAP		57.83			63.03			59.27			57.89			59.29
Efficiency ratio - operating ⁽¹⁾		55.75			56.92			56.18			56.21			57.35
Average equity to average assets		11.03			11.21			10.86			10.49			10.24
Average tangible equity to average assets ⁽³⁾		8.82			9.52			9.45			9.23			8.96
Average tangible common equity to average assets ⁽³⁾		8.82			9.52			9.45			9.23			8.96
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		11.26			12.05			12.80			12.44			12.07

ASSET QUALITY
Nonperforming loans	$	26,240		$	23,658		$	22,921		$	23,095		$	19,812			32
Foreclosed properties		2,714			3,234			2,736			2,739			5,060			(46	)
Total nonperforming assets (NPAs)		28,954			26,892			25,657			25,834			24,872			16
Allowance for loan losses		61,085			58,914			58,605			59,500			60,543			1
Net charge-offs		1,501			1,061			1,635			1,623			1,679			(11	)
Allowance for loan losses to loans		.75	%		.76	%		.81	%		.85	%		.87	%
Net charge-offs to average loans ⁽⁴⁾		.08			.06			.09			.09			.10
NPAs to loans and foreclosed properties		.35			.35			.36			.37			.36
NPAs to total assets		.24			.23			.23			.24			.23

AVERAGE BALANCES ($ in millions)
Loans	$	7,993		$	7,560		$	7,149		$	6,980		$	6,904			16
Investment securities		2,870			2,991			2,800			2,775			2,822			2
Earning assets		11,076			10,735			10,133			9,899			9,872			12
Total assets		12,111			11,687			10,980			10,704			10,677			13
Deposits		9,759			9,624			8,913			8,659			8,592			14
Shareholders’ equity		1,336			1,310			1,193			1,123			1,093			22
Common shares - basic (thousands)		79,205			76,768			73,151			71,810			71,700			10
Common shares - diluted (thousands)		79,215			76,768			73,162			71,820			71,708			10

AT PERIOD END ($ in millions)
Loans	$	8,184		$	7,736		$	7,203		$	7,041		$	6,965			18
Investment securities		2,731			2,937			2,847			2,787			2,767			(1	)
Total assets		12,264			11,915			11,129			10,837			10,732			14
Deposits		9,993			9,808			9,127			8,736			8,752			14
Shareholders’ equity		1,357			1,303			1,221			1,133			1,102			23
Common shares outstanding (thousands)		79,123			77,580			73,403			70,981			70,973			11

⁽¹⁾

Excludes merger-related and other charges which includes amortization of certain executive change of control benefits, the fourth quarter 2017 impact of remeasurement of United's deferred tax assets following the passage of tax reform legislation and a first quarter 2017 release of disproportionate tax effects lodged in OCI.

⁽²⁾

Net income less 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⁾

First quarter 2018 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2018			2017
	First			Fourth			Third			Second			First
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter

Expense reconciliation
Expenses (GAAP)	$	73,475		$	75,882		$	65,674		$	63,229		$	62,826
Merger-related and other charges		(2,646	)		(7,358	)		(3,420	)		(1,830	)		(2,054	)
Expenses - operating	$	70,829		$	68,524		$	62,254		$	61,399		$	60,772

Net income reconciliation
Net income (GAAP)	$	37,658		$	(11,916	)	$	27,946		$	28,267		$	23,524
Merger-related and other charges		2,646			7,358			3,420			1,830			2,054
Income tax benefit of merger-related and other charges		(628	)		(1,165	)		(1,147	)		(675	)		(758	)
Impact of tax reform on remeasurement of deferred tax asset		-			38,199			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			3,400
Net income - operating	$	39,676		$	32,476		$	30,219		$	29,422		$	28,220
Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.47		$	(.16	)	$	.38		$	.39		$	.33
Merger-related and other charges		.03			.08			.03			.02			.01
Impact of tax reform on remeasurement of deferred tax asset		-			.50			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			.05
Diluted income per common share - operating	$	.50		$	.42		$	.41		$	.41		$	.39

Book value per common share reconciliation
Book value per common share (GAAP)	$	17.02		$	16.67		$	16.50		$	15.83		$	15.40
Effect of goodwill and other intangibles		(4.06	)		(3.02	)		(2.39	)		(2.09	)		(2.10	)
Tangible book value per common share	$	12.96		$	13.65		$	14.11		$	13.74		$	13.30

Return on tangible common equity reconciliation
Return on common equity (GAAP)		11.11	%		(3.57	)%		9.22	%		9.98	%		8.54	%
Merger-related and other charges		.60			1.86			.75			.41			.47
Impact of tax reform on remeasurement of deferred tax asset		-			11.44			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			1.24
Return on common equity - operating		11.71			9.73			9.97			10.39			10.25
Effect of goodwill and other intangibles		3.55			2.20			1.96			1.80			1.85
Return on tangible common equity - operating		15.26	%		11.93	%		11.93	%		12.19	%		12.10	%

Return on assets reconciliation
Return on assets (GAAP)		1.26	%		(.40	)%		1.01	%		1.06	%		.89	%
Merger-related and other charges		.07			.20			.08			.04			.05
Impact of tax reform on remeasurement of deferred tax asset		-			1.30			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			.13
Return on assets - operating		1.33	%		1.10	%		1.09	%		1.10	%		1.07	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		25.53	%		(62.50	)%		26.32	%		23.08	%		27.27	%
Merger-related and other charges		(1.53	)		12.04			(1.93	)		(1.13	)		(.98	)
Impact of tax reform on remeasurement of deferred tax asset		-			74.27			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			(3.21	)
Dividend payout ratio - operating		24.00	%		23.81	%		24.39	%		21.95	%		23.08	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		57.83	%		63.03	%		59.27	%		57.89	%		59.29	%
Merger-related and other charges		(2.08	)		(6.11	)		(3.09	)		(1.68	)		(1.94	)
Efficiency ratio - operating		55.75	%		56.92	%		56.18	%		56.21	%		57.35	%

Average equity to assets reconciliation
Equity to assets (GAAP)		11.03	%		11.21	%		10.86	%		10.49	%		10.24	%
Effect of goodwill and other intangibles		(2.21	)		(1.69	)		(1.41	)		(1.26	)		(1.28	)
Tangible equity to assets		8.82			9.52			9.45			9.23			8.96
Effect of preferred equity		-			-			-			-			-
Tangible common equity to assets		8.82	%		9.52	%		9.45	%		9.23	%		8.96	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		11.68	%		12.24	%		12.27	%		11.91	%		11.46	%
Effect of other comprehensive income		(.51	)		(.29	)		(.13	)		(.15	)		(.24	)
Effect of deferred tax limitation		.43			.51			.94			.95			1.13
Effect of trust preferred		(.34	)		(.36	)		(.24	)		(.25	)		(.25	)
Basel III intangibles transition adjustment		-			(.05	)		(.04	)		(.02	)		(.03	)
Tangible common equity to risk-weighted assets		11.26	%		12.05	%		12.80	%		12.44	%		12.07	%

⁽¹⁾

First quarter 2018 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2018		2017								Linked			Year over
	First		Fourth		Third		Second		First		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,898	$	1,924	$	1,792	$	1,723	$	1,633	$	(26	)	$	265
Income producing commercial RE		1,677		1,595		1,413		1,342		1,297		82			380
Commercial & industrial		1,142		1,131		1,084		1,088		1,080		11			62
Commercial construction		691		712		583		587		667		(21	)		24
Equipment financing		423		-		-		-		-		423			423
Total commercial		5,831		5,362		4,872		4,740		4,677		469			1,154
Residential mortgage		992		974		933		881		860		18			132
Home equity lines of credit		712		731		689		665		659		(19	)		53
Residential construction		190		183		190		193		197		7			(7	)
Consumer direct		459		486		519		562		572		(27	)		(113	)
Total loans	$	8,184	$	7,736	$	7,203	$	7,041	$	6,965		448			1,219

LOANS BY MARKET
North Georgia	$	1,004	$	1,019	$	1,047	$	1,065	$	1,076		(15	)		(72	)
Atlanta MSA		1,513		1,510		1,477		1,445		1,408		3			105
North Carolina		1,037		1,049		542		541		541		(12	)		496
Coastal Georgia		635		630		634		623		591		5			44
Gainesville MSA		231		248		242		246		252		(17	)		(21	)
East Tennessee		473		475		471		486		483		(2	)		(10	)
South Carolina		1,537		1,486		1,470		1,260		1,243		51			294
Commercial Banking Solutions		1,438		961		920		926		911		477			527
Indirect auto		316		358		400		449		460		(42	)		(144	)
Total loans	$	8,184	$	7,736	$	7,203	$	7,041	$	6,965		448			1,219

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	First Quarter 2018									Fourth Quarter 2017									Third Quarter 2017
	Nonperforming			Foreclosed			Total			Nonperforming			Foreclosed			Total			Nonperforming			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs			Loans			Properties			NPAs			Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	6,757		$	1,121		$	7,878		$	4,923		$	1,955		$	6,878		$	5,027		$	764		$	5,791
Income producing CRE		3,942			368			4,310			3,208			244			3,452			2,042			121			2,163
Commercial & industrial		1,917			-			1,917			2,097			-			2,097			2,378			-			2,378
Commercial construction		574			658			1,232			758			884			1,642			1,376			923			2,299
Equipment financing		428			-			428			-			-			-			-			-			-
Total commercial		13,618			2,147			15,765			10,986			3,083			14,069			10,823			1,808			12,631
Residential mortgage		8,724			232			8,956			8,776			136			8,912			8,559			392			8,951
Home equity lines of credit		2,149			335			2,484			2,024			15			2,039			1,898			195			2,093
Residential construction		378			-			378			192			-			192			178			341			519
Consumer direct		1,371			-			1,371			1,680			-			1,680			1,463			-			1,463
Total NPAs	$	26,240		$	2,714		$	28,954		$	23,658		$	3,234		$	26,892		$	22,921		$	2,736		$	25,657

NONPERFORMING ASSETS BY MARKET
North Georgia	$	8,519		$	85		$	8,604		$	7,310		$	94		$	7,404		$	6,707		$	404		$	7,111
Atlanta MSA		1,138			132			1,270			1,395			279			1,674			1,098			338			1,436
North Carolina		5,006			1,271			6,277			4,543			1,213			5,756			4,376			318			4,694
Coastal Georgia		1,887			-			1,887			2,044			20			2,064			2,532			-			2,532
Gainesville MSA		574			163			737			739			-			739			763			-			763
East Tennessee		1,511			10			1,521			1,462			-			1,462			1,734			67			1,801
South Carolina		3,443			483			3,926			3,433			1,059			4,492			1,903			1,609			3,512
Commercial Banking Solutions		2,937			570			3,507			1,095			569			1,664			2,429			-			2,429
Indirect auto		1,225			-			1,225			1,637			-			1,637			1,379			-			1,379
Total NPAs	$	26,240		$	2,714		$	28,954		$	23,658		$	3,234		$	26,892		$	22,921		$	2,736		$	25,657

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	23,658		$	3,234		$	26,892		$	22,921		$	2,736		$	25,657		$	23,095		$	2,739		$	25,834
Acquisitions		428			-			428						659			659			20			805			825
Loans placed on non-accrual		7,463			-			7,463			9,375			-			9,375			7,964			-			7,964
Payments received		(3,534	)		-			(3,534	)		(5,495	)		-			(5,495	)		(5,192	)		-			(5,192	)
Loan charge-offs		(1,150	)		-			(1,150	)		(1,747	)		-			(1,747	)		(2,159	)		-			(2,159	)
Foreclosures		(625	)		625			-			(1,396	)		2,421			1,025			(807	)		683			(124	)
Property sales		-			(957	)		(957	)		-			(2,458	)		(2,458	)		-			(1,295	)		(1,295	)
Write downs		-			(72	)		(72	)		-			(117	)		(117	)		-			(236	)		(236	)
Net gains (losses) on sales		-			(116	)		(116	)		-			(7	)		(7	)		-			40			40
Ending Balance	$	26,240		$	2,714		$	28,954		$	23,658		$	3,234		$	26,892		$	22,921		$	2,736		$	25,657

	First Quarter 2018						Fourth Quarter 2017						Third Quarter 2017
				Net Charge-						Net Charge-						Net Charge-
				Offs to						Offs to						Offs to
	Net			Average			Net			Average			Net			Average
(in thousands)	Charge-Offs			Loans ⁽¹⁾			Charge-Offs			Loans ⁽¹⁾			Charge-Offs			Loans ⁽¹⁾
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	(43	)		(.01	)%	$	(357	)		(.08	)%	$	(44	)		(.01	)%
Income producing CRE		422			.10			595			.16			1,159			.33
Commercial & industrial		(3	)		-			(242	)		(.09	)		(200	)		(.08	)
Commercial construction		266			.15			148			.09			(114	)		(.07	)
Equipment financing		40			.08			-			-			-			-
Total commercial		682			.05			144			.01			801			.07
Residential mortgage		(52	)		(.02	)		290			.12			313			.14
Home equity lines of credit		89			.05			137			.08			56			.03
Residential construction		(64	)		(.14	)		(23	)		(.05	)		36			.07
Consumer direct		846			.72			513			.40			429			.31
Total	$	1,501			.08		$	1,061			.06		$	1,635			.09

NET CHARGE-OFFS BY MARKET
North Georgia	$	772			.31	%	$	64			.02	%	$	516			.19	%
Atlanta MSA		(109	)		(.03	)		26			.01			150			.04
North Carolina		144			.06			127			.06			221			.16
Coastal Georgia		137			.09			174			.11			(39	)		(.02	)
Gainesville MSA		(18	)		(.03	)		154			.25			(50	)		(.08	)
East Tennessee		31			.03			61			.05			55			.05
South Carolina		12			-			95			.03			528			.15
Commercial Banking Solutions		176			.06			75			.03			(7	)		-
Indirect auto		356			.41			285			.30			261			.24
Total	$	1,501			.08		$	1,061			.06		$	1,635			.09

⁽¹⁾

Annualized.

UNITED COMMUNITY BANKS, INC.

Consolidated Statements of Income (Unaudited)

	Three Months Ended
	March 31,
(in thousands, except per share data)	2018			2017

Interest revenue:
Loans, including fees	$	96,469		$	72,727
Investment securities, including tax exempt of $972 and $279		18,295			17,712
Deposits in banks and short-term investments		526			519
Total interest revenue		115,290			90,958

Interest expense:
Deposits:
NOW		1,113			597
Money market		2,175			1,426
Savings		49			27
Time		2,956			1,008
Total deposit interest expense		6,293			3,058
Short-term borrowings		300			40
Federal Home Loan Bank advances		2,124			1,430
Long-term debt		3,288			2,876
Total interest expense		12,005			7,404
Net interest revenue		103,285			83,554
Provision for credit losses		3,800			800
Net interest revenue after provision for credit losses		99,485			82,754

Fee revenue:
Service charges and fees		8,925			10,604
Mortgage loan and other related fees		5,359			4,424
Brokerage fees		872			1,410
Gains from sales of SBA/USDA loans		1,778			1,959
Securities gains (losses), net		(940	)		(2	)
Other		6,402			3,679
Total fee revenue		22,396			22,074
Total revenue		121,881			104,828

Operating expenses:
Salaries and employee benefits		42,875			36,691
Communications and equipment		4,632			4,918
Occupancy		5,613			4,949
Advertising and public relations		1,515			1,061
Postage, printing and supplies		1,637			1,370
Professional fees		4,044			3,044
FDIC assessments and other regulatory charges		2,476			1,283
Amortization of intangibles		1,898			973
Merger-related and other charges		2,054			2,054
Other		6,731			6,483
Total operating expenses		73,475			62,826
Net income before income taxes		48,406			42,002
Income tax expense		10,748			18,478
Net income	$	37,658		$	23,524

Net income available to common shareholders	$	37,381		$	23,524

Earnings per common share:
Basic	$	.47		$	.33
Diluted		.47			.33
Weighted average common shares outstanding:
Basic		79,205			71,700
Diluted		79,215			71,708

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheets (Unaudited)

	March 31,			December 31,
(in thousands, except share and per share data)	2018			2017

ASSETS
Cash and due from banks	$	136,201		$	129,108
Interest-bearing deposits in banks		216,052			185,167
Cash and cash equivalents		352,253			314,275
Securities available for sale		2,419,049			2,615,850
Securities held to maturity (fair value $308,007 and $321,276)		312,080			321,094
Loans held for sale (includes $26,493 and $26,252 at fair value)		26,493			32,734
Loans and leases, net of unearned income		8,184,249			7,735,572
Less allowance for loan and lease losses		(61,085	)		(58,914	)
Loans, net		8,123,164			7,676,658
Premises and equipment, net		208,243			208,852
Bank owned life insurance		189,759			188,970
Accrued interest receivable		31,349			32,459
Net deferred tax asset		86,520			88,049
Derivative financial instruments		27,202			22,721
Goodwill and other intangible assets		328,328			244,397
Other assets		159,815			169,401
Total assets	$	12,264,255		$	11,915,460
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	3,226,111		$	3,087,797
NOW		2,106,145			2,131,939
Money market		2,052,486			2,016,748
Savings		677,020			651,742
Time		1,520,931			1,548,460
Brokered		410,747			371,011
Total deposits		9,993,440			9,807,697
Short-term borrowings		-			50,000
Federal Home Loan Bank advances		434,574			504,651
Long-term debt		325,955			120,545
Derivative financial instruments		33,236			25,376
Accrued expenses and other liabilities		120,295			103,857
Total liabilities		10,907,500			10,612,126
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized;
79,122,620 and 77,579,561 shares issued and outstanding		79,123			77,580
Common stock issuable; 612,831 and 607,869 shares		9,392			9,083
Capital surplus		1,496,307			1,451,814
Accumulated deficit		(181,877	)		(209,902	)
Accumulated other comprehensive loss		(46,190	)		(25,241	)
Total shareholders' equity		1,356,755			1,303,334
Total liabilities and shareholders' equity	$	12,264,255		$	11,915,460

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended March 31,

				2018								2017
	Average					Avg.			Average					Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) ⁽¹⁾⁽²⁾	$	7,993,339		$	96,389		4.89	%	$	6,903,860		$	72,741		4.27	%
Taxable securities ⁽³⁾		2,722,977			17,323		2.54			2,779,625			17,433		2.51
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		146,531			1,309		3.57			42,180			457		4.33
Federal funds sold and other interest-earning assets		213,055			698		1.31			146,027			664		1.82
Total interest-earning assets (FTE)		11,075,902			115,719		4.23			9,871,692			91,295		3.74
Non-interest-earning assets:
Allowance for loan losses		(59,144	)							(61,668	)
Cash and due from banks		160,486								99,253
Premises and equipment		216,723								190,096
Other assets ⁽³⁾		717,385								577,168
Total assets	$	12,111,352							$	10,676,541

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	2,083,703			1,113		.22		$	1,959,678			597		.12
Money market		2,230,620			2,175		.40			2,065,449			1,426		.28
Savings		655,746			49		.03			560,634			27		.02
Time		1,535,216			2,241		.59			1,263,946			815		.26
Brokered time deposits		158,358			715		1.83			98,340			193		.80
Total interest-bearing deposits		6,663,643			6,293		.38			5,948,047			3,058		.21

Federal funds purchased and other borrowings		78,732			300		1.55			19,031			40		.85
Federal Home Loan Bank advances		511,727			2,124		1.68			681,117			1,430		.85
Long-term debt		274,480			3,288		4.86			175,142			2,876		6.66
Total borrowed funds		864,939			5,712		2.68			875,290			4,346		2.01

Total interest-bearing liabilities		7,528,582			12,005		.65			6,823,337			7,404		.44
Non-interest-bearing liabilities:
Non-interest-bearing deposits		3,095,405								2,643,630
Other liabilities		150,955								116,752
Total liabilities		10,774,942								9,583,719
Shareholders' equity		1,336,410								1,092,822
Total liabilities and shareholders' equity	$	12,111,352							$	10,676,541

Net interest revenue (FTE)				$	103,714							$	83,891
Net interest-rate spread (FTE)							3.58	%							3.30	%

Net interest margin (FTE) ⁽⁴⁾							3.80	%							3.45	%

⁽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 losses of $28.3 million in 2018 and $5.38 million in 2017 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

2018 INVESTOR PRESENTATION FIRST QUARTER 2018 April 24, 2018

ucbi.com | 2 Disclosures CAUTIONARY STATEMENT This investor presentation may contain forward - looking statements, as defined by federal securities laws, including statements about United and its financial outlook and business environment . These statements are based on current expectations and are provided to assist in the understanding of our operations and future financial performance . Our operations and such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements . For a discussion of some of the risks and other factors that may cause such forward - looking statements to differ materially from actual results, please refer to United Community Banks, Inc . ’s filings with the Securities and Exchange Commission, including its 2017 Annual Report on Form 10 - K under the section entitled “Forward - Looking Statements . ” Forward - looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward - looking statements . NON - GAAP MEASURES This presentation includes financial information determined by methods other than in accordance with generally accepted accounting principles (“GAAP”) . This financial information includes certain operating performance measures, which exclude merger - related and other charges that are not considered part of recurring operations . Such measures include : “Net income – operating,” “Net income available to common shareholders – operating,” “Earnings per share – operating,” “Diluted earnings per share – operating,” “Tangible book value per share,” “Return on common equity – operating,” “Return on tangible common equity – operating,” “Return on assets – operating,” “Efficiency ratio – operating,” “Expenses – operating,” “Tangible common equity to risk - weighted assets,” and “Average tangible equity to average assets . ” This presentation also includes “pre - tax, pre - credit earnings,” which excludes the provision for credit losses, income taxes and merger - related and other charges . Management has included these non - GAAP measures because we believe they may provide useful supplemental information for evaluating our underlying performance trends . Further, management uses these measures in managing and evaluating our business and intends to refer to them in discussions about our operations and performance . Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non - GAAP measures that may be presented by other companies . To the extent applicable, reconciliations of these non - GAAP measures to the most directly comparable GAAP measures can be found in the ‘Non - GAAP Reconciliation Tables’ included in the exhibits to this presentation . ucbi.com | 2

1Q18 Overview Ticker UCBI (NASDAQ) Market Cap $2.5Bn P/E (2018E) 14.3x P/TBV 244% Assets $12.3Bn Loans $8.2Bn Deposits $10.0Bn CET1 11.34% NPAs / Assets 0.24% ROA – GAAP 1.26% ROA – Operating (1) 1.33% ROCE – GAAP 11.11% ROTCE – Operating (1) 15.26% • Established in 1950 and headquartered in Blairsville, GA with an executive office in Greenville, SC x 2,330 employees • One of the largest regional banks in the U.S. by assets with 143 branch locations, 8 loan production offices and 4 mortgage loan offices in four states: GA, NC, SC and TN x Top 10 market share in GA and SC • Metro - focused branch network with locations in fast growing areas x Over 80% of branches located in metro areas Premier Southeast Regional Bank United Community Bank 143 Branch locations 8 Loan Production Offices 4 Mortgage Loan Offices Who We Are Snapshot of United Community Banks, Inc. Market data as of April 19, 2018 (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 | 3

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

Cultural Pillars Customer Service Is at Our Foundation High - Quality Balance Sheet » Underwriting conservatism and portfolio diversification » Top quartile credit quality performance » Prudent capital, liquidity and interest - rate risk management » Focused on improving return to shareholders with increasing ROTCE and dividend growth Profitability » Managing a steady margin with minimal accretion income » Fee revenue expansion through focused growth initiatives » Continued operating expense discipline while investing in growth opportunities » Executing on M&A cost savings » High - quality, low - cost core deposit base Growth » Addition of Commercial Banking Solutions platforms (middle - market banking, SBA lending, senior care, income - property lending, asset - based lending, builder finance, renewable energy, equipment finance) and actively pursuing additional lending platforms » Entered into and continue to target new markets with team lift - outs (Charleston, Greenville, Atlanta, Raleigh) » Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth » Acquisitions that fit our footprint and culture and deliver desired financial returns Who We Are Full - Service Regional Bank with a Strong Culture Rooted in Sound Credit Underwriting & Growth ucbi.com | 5

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

1Q18 Highlights ucbi.com | 7 $17.02 $16.67 $15.40 $13.30 $13.65 $12.96 1Q17 4Q17 1Q18 Book Value Per Share (2) Book Value (GAAP) Tangible Book Value (non-GAAP) (1) $0.33 - $0.16 $0.47 $0.39 $0.42 $0.50 1Q17 4Q17 1Q18 Earnings Per Share GAAP Operating (1) 0.89% - 0.40% 1.26% 1.07% 1.10% 1.33% 1Q17 4Q17 1Q18 Return on Assets GAAP Operating (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures ucbi.com | 7 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures (2) Excludes effect of acquisition - related intangibles and associated amortization $0.09 $0.10 $0.12 1Q17 4Q17 1Q18 Dividends Per Share » Operating diluted earnings per share of $0.50 compared with GAAP diluted earnings per share of $0.47 » Operating EPS rose 28% vs. last year » Operating ROA moved to 1.33%, on path towards 1.40% 2018 target. » TBV per share down 3% vs. last year, 1Q18 impacted by Navitas acquisition as expected » Dividend $0.12 up 33% vs. last year

$83.6 $97.5 $103.3 1Q17 4Q17 1Q18 3.45% 3.63% 3.80% ucbi.com | 8 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Net Interest Revenue / Margin (1) ucbi.com | 8 (1) Net interest margin is calculated on a fully - taxable equivalent basis $ in millions Net Interest Revenue Net Interest Margin » Net interest revenue of $103.3 million increased $5.8 million (5.9%) vs. 4Q17 and $19.7 million (23.6%) vs. 1Q17 » Benefit of Navitas and Four Oaks acquisitions, in addition to rising short - term interest rates » Net interest margin up 35 bps vs. 1Q17 due to higher short - term rates and stable core deposit base and the impact of Navitas and Four Oaks » Net interest margin up 17 bps vs. 4Q17 impacted by » Approximately 10 of the 17 basis points increase due to Navitas acquisition » Accretable yield contributed $1.55 million or 6 bps to 1Q18, down one basis point vs. 4Q17

0 10 20 30 40 50 82% 94% Low - Cost Deposit Base (1) Sufficient Liquidity to Support Future Growth Loans / Deposits (2) Cost of Total Deposits (bps) 39 bps 23 bps Deposits KRX Peer ucbi.com | 9 KRX Peer Note – Peer comparison banks comprise the KBW Regional Bank Index (ticker:KRX) (1) Source: S&P Global Market Intelligence (2) United results as of 1Q18; KRX results as of 4Q17 (Source: SNL Financial LC)

ucbi.com | 10 $2.7 $3.1 $3.0 $1.3 $1.6 $1.7 $0.7 $0.7 $0.7 $1.7 $1.9 $1.9 $0.6 $0.5 $0.5 $0.4 $7.0 $7.7 $8.2 1Q17 4Q17 1Q18 C&I (1) CRE Comml Construction Residential Other Consumer Equipment Finance 24.6% 9.6% 18.6% 39.0% 20.5% 37.1% 8.4% 23.1% 5.6% 20.6% 39.5% 9.2% 24.4% 6.3% 5.2% Loans ucbi.com | 10 $ in billions 8.2% » Annualized end of period loan growth was 3.5 %, or 6% excluding Indirect Auto runoff of $42 million » Navitas closed on 2/1 with $379 million of loans and grew to $423 million at quarter end » Strategically moved C&I (including owner - occupied CRE) to 37% of loans versus 23% pre crisis » Investor CRE loans moved to 21% from 47% pre crisis » Residential mortgages have increased due to the introduction of on balance sheet mortgage products » Other consumer has declined to a 6% contribution due to the planned runoff of the indirect auto portfolio (1) C&I includes commercial and industrial loans as well as owner - occupied CRE loans

ucbi.com | 11 Loan Growth Drivers ucbi.com | 11 » Greater expansion in our metro markets, including our new Myrtle Beach and Raleigh markets » Expansion of our Commercial Banking Solutions (CBS) unit (i.e. deeper penetration and new verticals) » We estimate the Navitas acquisition adds about 200 basis points to our growth rate over time » Continued development of our unique partnership model where the community banks partner with CBS to drive growth » Growth in the mortgage business via expansion into newly acquired markets and with the addition of on - balance sheet adjustable rate products

$10.6 $8.8 $8.9 $3.7 $4.1 $5.5 $1.4 $1.1 $0.9 $4.4 $4.9 $5.4 $2.0 $3.1 $1.8 1Q17 4Q17 1Q18 Service Charges Other Brokerage Mortgage SBA ucbi.com | 12 Fee Revenue ucbi.com | 12 in millions » Vs Last Year, fees up $0.3 mm to $22.4 mm » $2.7 mm lower service charges as Durbin impact more than offsets increase from acquisitions » Mortgage originations up 26% year over year to $191 mm » SBA production up 27% vs. 1Q17 to $26.5 mm, SBA revenue down slightly year over year on lower loan sales ($22.2 million in 1Q18 vs $23.4 million in 1Q17) » Q1 SBA production placed UCBI as top 20 national originator » Other income up $1.8 mm includes the benefit of $0.8 mm of Navitas fee income, $0.3 mm in higher customer derivative fees, $0.3 mm BOLI from acquisitions and the net benefit of $1.16 mm in hedging gains offset by $0.94 mm of securities losses » Linked quarter, fees up $0.5 mm due to: » Higher mortgage fees in Q1 vs Q4 due slightly lower originations ($191 mm in Q1 vs $196 million in Q4) as MSR write - up was $0.1 mm higher and rate locks in the pipeline increased 19% » Seasonal decrease in SBA » Other income includes the benefit of $0.8 mm of Navitas fee income, $0.2 mm in higher customer derivative fees and the net benefit of $1.16 mm in hedging gains offset by $0.94 mm of securities losses $22.1 $21.9 $22.4

59.3% 63.0% 57.8% 57.4% 56.9% 55.8% 60.78% 59.27% 59.27% 57.79% 56.18% 56.18% $62.8 $75.9 $73.5 $60.8 $68.5 $70.8 1Q17 4Q17 1Q18 ucbi.com | 13 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Expense Discipline ucbi.com | 13 GAAP Operating (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures » Year over year, GAAP and operating expenses grew 17% and 16%, respectively, mostly due to acquisitions » Operating efficiency ratio improved to 55.8% from 57.4% last year » Linked quarter, GAAP and operating expenses shrunk 3% and grew 3%respectively » Approximately $3.5 mm incremental expense increase came from Four Oaks and Navitas » Core expenses down $1.2mm vs 4Q17 despite negative seasonality Efficiency Ratio (1) $ in millions

Credit Quality ucbi.com | 14 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures ucbi.com | 14 0.10% 0.06% 0.08% 1Q17 4Q17 1Q18 Net Charge - Offs as % of Average Loans 0.23% 0.23% 0.24% 1Q17 4Q17 1Q18 Non - Performing Assets as % of Total Assets $0.8 $1.2 $1.5 $ 2.3 1Q17 4Q17 1Q18 Provision for Credit Losses $ in millions $ 3.8 0.87% 0.76% 0.75% 1Q17 4Q17 1Q18 Allowance for Loan Losses (1) 1Q18 $2.3 million provision due to Navitas Acquisition (1)

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

ucbi.com | 16 Holding Company 1Q17 4Q17 1Q18 (1) Common Equity Tier I Capital 11.4% 12.0% 11.3% Tier I Risk - Based Capital 11.5 12.3 11.7 Total Risk - Based Capital 12.3 13.0 13.6 Leverage 8.6 9.4 9.1 Tangible Common Equity to Risk - Weighted Assets 12.1 12.1 11.3 Average Tangible Equity to Average Assets 9.0 9.5 8.8 ► All regulatory capital ratios significantly above “well - capitalized ” ► Navitas acquisition closed on February 1st, 2018 and included $84.5 million in cash consideration which levered strong capital ratios in Q1 ► Quarterly dividend of $0.12 per share (up 33% YoY ) ► $36.3 million remaining on our stock repurchase authorization which expires December 31, 2018 ► Capital impact of acquisitions ► Four Oaks acquisition completed on November 1, 2017; minimal impact on capital ratios for 4Q17 ► We raised $100 million in sub debt 1Q18 that added 109 basis points to the Total Risk - Based Capital Ratio ucbi.com | 16 Capital Ratios (1) 1Q18 ratios are preliminary

17 ucbi.com Acquisition of Navitas Business Overview Notes 1. "Expected Financial Impact" discloses forward - looking statements that are subject to numerous assumptions, risks and uncertainti es that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements 2. As of March 31, 2018 3. Originations for the last twelve months ended March 31, 2018 Key Industries ; Founded in September 2008, Navitas is a nationwide equipment finance lender based in Ponte Vedra, FL — 125 employees as of March 31, 2018 ; Offers customized debt financing products for small and medium businesses (“SMBs”) ; Scalable platform designed to efficiently originate, underwrite and manage large volumes of low balance accounts for SMBs ; Strong origination channels (direct and indirect) diversified across geographies, industries and equipment types ; Led by senior management team with average experience of 25+ years in the financial services industry Transaction Rationale Net Loans & Leases: $423 Million (2) Nationwide Presence Annual Originations: $340 Million (3) $1.2Bn Loans & Leases Funded (2) Transaction Overview x Acquisition of high - performing, scalable equipment finance platform with national reach and exceptional origination capabilities x Accretive to EPS by approximately $0.20 in first full year of operations (1) x Further diversifies loan portfolio into C&I. x Enhances current SBA business by adding new product offerings tailored to small and medium businesses (“SMBs”) x Opportunity to replace Navitas’ current funding with UCBI’s low - cost funding base x Long tenured management team with proven track record of delivering growth and outsized performance Aggregate Transaction Value ; $130 million Consideration ; 35% stock / 65% cash ; Cash consideration financed with $100MM subordinated debt issuance ; Stock exchange ratio based on the average 10 - day trading price of UCBI stock at close Closed ; February 1, 2018 Structure ; Separate subsidiary of the bank operating as a stand - alone brand

18 ucbi.com Navitas Portfolio Strategy and Stratifications (1) » Multi channel origination strategy of developing and acquiring teams of highly experienced professionals with a track record of success in their respective market niche » These teams are supported by centralized corporate functions including: » Credit Policy, Credit, Portfolio Management, Marketing, Account Servicing, Information Services, Legal, Accounting and Financ e » Structure allows Navitas the flexibility to effectively compete in multiple markets while still providing consistency across the organization with centralized control » Portfolio is managed to maintain no significant state, equipment type, industry, vendor / broker or obligor concentrations Notes 1. As of March 31, 2018 Equipment Type Industry Titled Vehicles 18% Medical Laser 7% Industrial Equipment 7% Durable Medical 6% Medical General 5% Software 5% Restaurants 3% Construction NEC 3% Gym 3% Audio/ Visual Equipment 3% Other 40% Doctor's Offices 9% Eating Places 6% Local Trucking Without Storage 5% Health Practitioners, Not Elsewhere Classified 3% Trucking, Except Local 3% Medical, Dental, and Hospital Equipment 3% Beauty Shops 2% Ornamental Shrub and Tree Services 2% Equipment Rental and Leaseing Not Elsewhere Classified … Business Services, Not Elsewhere Classified 2% Other 63%

2018 INVESTOR PRESENTATION Exhibits FIRST QUARTER 2018 April 24, 2018

$83.6 $97.5 $103.3 $60.8 $68.5 $70.8 $44.9 $50.9 $54.8 $22.1 $21.9 $22.4 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 $110 1Q17 4Q17 1Q18 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue ucbi.com | 20 1Q18 4Q17 1Q17 Overdraft Fees 3,652$ (79)$ 255$ Interchange Fees 3,271 83 (2,117) Other Service Charges 2,002 151 183 Total Service Charges and Fees 8,925 155 (1,679) Mortgage Loan & Related Fees 5,359 474 935 Brokerage Fees 872 (196) (538) Gains from SBA Loan Sales 1,778 (1,324) (181) Securities Gains, Net (940) (792) (938) Other 6,402 2,151 2,723 Fee Revenue 22,396$ 468$ 322$ Variance - Incr/(Decr) 1Q18 4Q17 1Q17 Net Interest Revenue 103,285$ 5,777$ 19,731$ Fee Revenue 22,396 468 322 Gross Revenue 125,681 6,245 20,053 Expenses - Operating (1) 70,829 2,305 10,057 Pre-Tax, Pre-Credit Earnings (1) 54,852 3,940 9,996 Provision for Credit Losses (3,800) 2,600 3,000 Merger-Related and Other Charges (2,646) (4,712) 592 Income Taxes (2) (10,748) (43,522) (4,330) Net Income - GAAP 37,658$ 49,574$ 14,134$ Variance - Incr/(Decr) $ in thousands $ in thousands $ in thousands Expenses Earnings (pre - tax, pre - credit) Fee Revenue Millions (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 Earnings, Fee Revenue, and Expenses ucbi.com | 20 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures (2) Fourth quarter 2017 includes a $38.2 million charge to remeasure United’s net deferred tax asset at the 21% federal tax rate tha t went into effect January 1, 2018 as a result of the passage of tax reform legislation. 1Q18 4Q17 1Q17 Salaries & Employee Benefits 42,875$ 1,833$ 6,184$ Communications & Equipment 4,632 (585) (286) Occupancy 5,613 71 664 FDIC Assessment 2,296 520 1,013 Advertising & Public Relations 1,515 620 454 Postage, Printing & Supplies 1,637 (188) 267 Professional Fees 4,044 361 1,000 Other Expense 8,217 (327) 761 Expenses - Operating (1) 70,829 2,305 10,057 Merger-Related and Other Charges 2,646 (4,712) 592 Expenses - GAAP 73,475$ (2,407)$ 10,649$ Variance - Incr/(Decr)

2014 2015 2016 2017 1Q 2018 2014 2015 2016 2017 1Q 2018 Demand Deposit 161$ 618$ 334$ 487$ 117$ Non-Interest Bearing Core NOW 9 441 5 107 4 Demand Deposit 1,471$ 2,089$ 2,423$ 2,910$ 3,027$ MMDA 41 325 246 156 (7) Savings 41 177 79 101 25 Interest Bearing Core Growth by Category 252$ 1,561$ 664$ 851$ 139$ Total CommercialNOW 668 1,109 1,114 1,221 1,225 MMDA 1,259 1,584 1,830 1,986 1,979 Atlanta MSA 84$ 223$ 168$ 91$ 38$ Savings 292 469 548 649 675 North Georgia 90 158 133 80 58 Total Interest Bearing Core 2,219 3,162 3,492 3,856 3,878 North Carolina (1) 35 63 62 412 11 Coastal Georgia 22 24 16 28 40 Total Core Trans Deposits 3,690 5,251 5,915 6,766 6,905 East Tennessee (2) 8 234 (16) (7) (2) Gainesville MSA 10 34 48 20 5 Time (Customer) 1,223 1,251 1,267 1,522 1,487 South Carolina (3) 3 825 253 227 (11) Public Funds (Customer) 989 1,032 1,128 1,148 1,190 Growth by Region 252$ 1,561$ 664$ 851$ 139$ Brokered 425 339 328 371 411 Total LoansTotal Deposits 6,327$ 7,873$ 8,638$ 9,808$ 9,993$ ucbi.com | 21 NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Deposit Mix $5.90 $7.53 $8.31 $9.44 $9.58 - $2.00 $4.00 $6.00 $8.00 $10.00 2014 2015 2016 2017 1Q 2018 Billions Public Funds (customer) Time (customer) Interest Bearing Core Transaction Non-Interest Bearing Core Transaction Time & Public Core Transaction Core Transaction Deposit Growth by Category & Region in millions Deposits by Category in millions (1) Includes $354 million from the acquisition of Four Oaks NB on November 1, 2017 (2) Includes $247 million from the acquisition of FNB on May 1, 2015 (3) Includes $790 million, $175 million and $226 million, respectively, from the acquisitions of Palmetto on September 1, 2015, Tidelands on July 1, 2016 and Horry County State Bank on July 31, 2017 ucbi.com | 21 Note – Column graph summarizes customer deposits, which excludes brokered deposits

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) ucbi.com | 22 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% 1.0% WABC COLB CVBF CBU CFR CBSH FFIN GBCI FMBI BOH ONB FCF UCBI UMPQ BOKF TRMK UMBF PB WAL PACW PFS WBS MBFI BPFH SNV FHN UBSI BPOP FULT EWBC HBHC FNB STL WTFC TCF IBKC ASB PNFP STBA TCBI WAFD FFBC BRKL CATY SBNY VLY OZRK ISBC HOPE BKU 4Q17 Cost of Deposits Median ► Our fourth quarter 2017 total cost of deposits was 24 basis points, which compared favorably to peers with a median of 39 basis points ► Core deposits (excludes Jumbo CDs / Brokered) comprised approximately 98% of our total customer deposits at March 31, 2018 High - Quality, Low - Cost Core Deposit Base ucbi.com | 22 Source: S&P Global Market Intelligence Note – Peer comparison banks comprise the KBW Regional Bank Index (ticker:KRX)

ucbi.com | 23 1Q18 4Q17 1Q17 4Q17 1Q17 Commercial & Industrial 220.7$ 135.4$ 106.8$ 85.3$ 113.9$ Owner-Occupied CRE 67.1 121.0 79.5 (53.9) (12.4) Income-Producing CRE 70.2 77.8 102.2 (7.6) (31.9) Commercial Constr. 145.6 130.8 116.3 14.8 29.3 Total Commercial 503.6 465.0 404.8 38.6 98.8 Residential Mortgage 38.3 49.2 45.1 (10.9) (6.8) Residential HELOC 53.6 59.4 53.8 (5.8) (0.2) Residential Construction 54.4 55.0 56.2 (0.6) (1.8) Consumer 15.8 15.5 55.3 0.3 (39.5) Total 665.8$ 644.1$ 615.3$ 21.7$ 50.5$ Variance-Incr(Decr) NOTE - Certain prior period amounts have been reclassified to conform to the current presentation (1) Represents new loans funded and net loan advances (net of payments on lines of credit) New Loans Funded and Advances $615.3 $644.1 $665.8 1Q17 4Q17 1Q18 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 1Q18 4Q17 1Q17 4Q17 1Q17 Atlanta 121.1$ 144.3$ 112.6$ (23.2)$ 8.5 Coastal Georgia 39.3 29.5 44.3 9.8 (5.0) North Georgia 60.2 55.9 63.2 4.2 (3.0) North Carolina 35.9 47.7 30.2 (11.8) 5.7 Tennessee 28.8 44.0 19.7 (15.2) 9.0 Gainesville 11.0 20.1 31.6 (9.1) (20.7) South Carolina 131.3 98.4 121.1 33.0 10.2 Total Community Banks 427.5 439.9 422.8 (12.4) 4.7 Asset-based Lending 10.8 12.3 19.8 (1.4) (8.9) Commercial RE 33.8 45.5 42.0 (11.7) (8.2) Senior Care 36.1 33.9 24.1 2.2 12.0 Middle Market 6.9 26.5 14.0 (19.6) (7.1) SBA 32.7 55.5 25.0 (22.8) 7.7 Renewable Energy 8.5 8.5 8.5 Navitas 65.3 65.3 65.3 Builder Finance 44.1 30.4 26.5 13.7 17.7 238.3 204.2 151.3 34.1 87.0 Indirect Auto - - 41.2 - (41.2) Total 665.8$ 644.1$ 615.3$ 21.7$ 50.5$ Variance-Incr(Decr) Total Commercial Banking Solutions New Loans Funded and Advances (1) ucbi.com | 23 (1) Represents new loans funded and net loan advances (net of payments on lines of credit) $ in millions

2014 2015 2016 2017 1Q18 North Georgia 1,163$ 1,125$ 1,097$ 1,019$ 1,004$ Atlanta MSA 1,243 1,259 1,399 1,510 1,513 North Carolina(1) 553 549 545 1,049 1,037 Coastal Georgia 456 537 581 630 635 Gainesville MSA 257 254 248 248 231 East Tennessee (2) 280 504 504 475 473 South Carolina (3) 30 819 1,233 1,486 1,537 Total Community Banks 3,982 5,047 5,607 6,417 6,430 421 492 855 961 1,438 Indirect Auto (5) 269 456 459 358 316 Total Loans 4,672$ 5,995$ 6,921$ 7,736$ 8,184$ Commercial Banking Solutions (4) 2014 2015 2016 2017 1Q18 Commercial & Industrial 710$ 785$ 1,070$ 1,131$ 1,142$ Owner-Occupied CRE 1,257 1,571 1,650 1,924 1,898 Income-Producing CRE 767 1,021 1,282 1,595 1,677 Commercial Constr. 364 518 634 712 691 Equipment Financing - - - - 423 Total Commercial 3,098 3,895 4,636 5,362 5,831 Residential Mortgage 614 764 857 974 992 Residential HELOC 456 589 655 731 712 Residential Construction 131 176 190 183 190 Consumer 104 115 124 128 143 Indirect Auto 269 456 459 358 316 Total Loans 4,672$ 5,995$ 6,921$ 7,736$ 8,184$ ucbi.com | 24 (1) Incudes $501 million from the Four Oaks acquisition on November 1, 2017 (2) Includes $244 million from the acquisition of FNB on May 1, 2015 (3) Includes $733 million, $306 million and $216 million, respectively, from the acquisitions of Palmetto on September 1, 2015, Tidelands on July 1, 2016 and Horry County State Bank on July 31, 2017 (4) Includes $359 million from the Navitas acquisition on February 1, 2018. (5) Includes $63 million from the acquisition of Palmetto on September 1, 2015 Loans by Category in millions Loans by Region in millions NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Loan Mix ucbi.com | 24 Note – Certain prior period amounts have been reclassified to conform to the current presentation

Commercial Real Estate Diversification ucbi.com | 25 Residential CIP : SPEC 154$ 12.5 % 93$ 13.5 % Assisted Living/Nursing Home/Rehab Cntr 231 18.8 81 11.7 Other Properties 108 8.8 75 10.9 Residential Land Development -Builders 66 5.3 60 8.7 Raw Land - Vacant (Unimproved) 66 5.4 54 7.8 Office Buildings 113 9.2 50 7.2 Resi Construction in Process: PRESOLD 73 5.9 47 6.8 Vacant (Improved) 51 4.1 42 6.1 Retail Building 43 3.5 36 5.2 Multi-Residential Properties 110 8.9 34 4.9 Residential Land Development - Subdivisions in Process 40 3.2 27 3.9 Residential Raw Land in the Hands of Builders/Developers 24 1.9 23 3.3 Warehouse 29 2.4 18 2.6 Hotels Motels 68 5.5 14 2.0 Commercial Land Development 15 1.2 13 2.0 Restaurants /Franchise Fast Food 26 2.1 13 1.9 Churches 11 0.9 8 1.2 Carwash 4 0.3 3 0.4 Total Commercial Construction 1,232$ 100 % 691$ 100 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Office Buildings 435$ 24.5 % 394$ 23.5 % Retail Building 366 20.6 348 20.8 Investor Residential 198 11.1 196 11.7 Hotels Motels 181 10.2 176 10.5 Other Properties 157 8.8 142 8.5 Warehouse 133 7.5 126 7.5 Multi-Residential Properties 119 6.7 116 6.9 Restaurants /Franchise Fast Food 52 3.0 47 2.8 Convenience Stores 36 2.0 35 2.1 Mfg Facility 26 1.5 25 1.5 Assisted Living 21 1.2 21 1.3 Self Storage 20 1.1 19 1.1 Leasehold Property 12 0.7 12 0.7 Automotive Service 9 0.5 8 0.5 Mobile Home Parks 4 0.2 4 0.2 Daycare Facility 4 0.2 4 0.2 Automotive Dealership 2 0.1 2 0.1 Carwash 1 0.1 1 0.1 Total Commercial Real Estate - Income Producing 1,777$ 100 % 1,677$ 100 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $279 • Commercial RE: • Composite CRE 410 • Owner - Occupied 388 • Income - Producing 438 Committed Average Loan Size (in thousands ) • Commercial Construction $496 • Commercial RE: • Composite CRE 435 • Owner - Occupied 414 • Income - Producing 462 ucbi.com | 25

ucbi.com | 26 Granular Portfolio – Exposure and Industry Limits • Legal Lending Limit $ 314M • House Lending Limit 30M • Project Lending Limit 18M • Top 25 Relationships 579M Concentration limits set for all segments of the portfolio Disciplined Credit Processes ucbi.com | 26 STRUCTURE • Centralized underwriting and approval process for consumer credit • Distributed Regional Credit Officers (reporting to Credit) for commercial • Dedicated Special Assets team • Eight of the top twelve credit leaders recruited post - crisis PROCESS • Weekly Senior Credit Committee • Continuous external loan review • Monthly commercial asset quality review • Monthly retail asset quality review meetings POLICY • Continuous review and enhancements to credit policy • Quarterly reviews of portfolio limits and concentrations

Net Charge-offs 1.7$ 1.6$ 1.6$ 1.1$ 1.5$ as % of Average Loans 0.10 % 0.09 % 0.09 % 0.06 % 0.08 % Allowance for Loan Losses 60.5$ 59.5$ 58.6$ 58.9$ 61.1$ as % of Total Loans 0.87 % 0.85 % 0.81 % 0.76 % 0.75 % as % of NPLs 306 258 256 249 233 Past Due Loans (30 - 89 Days) 0.23 % 0.23 % 0.28 % 0.28 % 0.20 % Non-Performing Loans 19.8$ 23.1$ 22.9$ 23.7$ 26.2$ OREO 5.1 2.7 2.8 3.2 2.7 Total NPAs 24.9 25.8 25.7 26.9 28.9 Performing Classified Loans 108.8 91.7 100.5 117.2 111.4 Total Classified Assets 133.7$ 117.5$ 126.2$ 144.1$ 140.3$ as % of Tier 1 / Allowance 13 % 11 % 12 % 12 % 11 % Accruing TDRs 64.9$ 64.7$ 59.6$ 52.6$ 52.9$ Total NPAs as % of Total Assets 0.23 % 0.24 % 0.23 % 0.23 % 0.24 % as % of Loans & OREO 0.36 0.37 0.36 0.35 0.35 1Q17 4Q172Q17 3Q17 1Q18 $ in millions ucbi.com | 27 Credit Quality ucbi.com | 27

Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Excellent Credit Performance & Management ucbi.com | 28 0.0% 0.5% 1.0% 1.5% 2.0% CBSH BOH UMPQ WABC CVBF BPFH PB CBU OZRK VLY UCBI UMBF CFR PNFP MBFI WAL FFIN EWBC WTFC COLB FCF FNB PFS BXS BKU FHN WAFD STL STBA CATY SNV TCBI WBS GBCI FULT BRKL ISBC FMBI TCF PACW UBSI ASB BOKF TRMK IBKC ONB HBHC SBNY BPOP 4Q18 NPA Ratio Median ► Eight of the top twelve credit leaders recruited post - crisis ► Centralization of special assets ► Centralization of consumer loan underwriting and approval ► Changed commercial approval process, including a Senior Credit Committee for visibility and culture building ► Instituted highly - disciplined concentration management process ► Dedicated credit officers for all specialty businesses and community markets ucbi.com | 28 Source: S&P Global Market Intelligence Note – Peer comparison banks comprise the KBW Regional Bank Index (ticker:KRX)

ucbi.com | 29 (1) (2) (2) (2) (1) (1) North Georgia $ 7.6 $ 2.6 9 19 33 % 1 Atlanta, Georgia 70.4 2.7 10 34 4 7 Gainesville, Georgia 3.5 0.4 1 5 11 4 Coastal Georgia 8.9 0.4 2 7 4 8 Eastern North Carolina 29.0 0.6 1 12 2 11 Western North Carolina 7.4 1.1 2 19 14 3 East Tennessee 17.6 0.5 2 9 3 7 Upstate South Carolina 24.9 1.2 4 24 5 7 Coastal South Carolina 22.4 0.5 2 14 3 12 Loan Production Offices - - - 8 Total Markets $ 191.7 $ 10.0 33 151 Rank United Community Banks, Inc. Deposit ShareOffices Community BanksDeposits Total Market Deposits Market Share Growth Opportunities ucbi.com | 29 (1) United deposit share and United rank are as of June 30, 2017 for markets where United takes deposits (Source: FDIC). As such, U nited deposit share and United rank have been adjusted to include the Pro Forma effect of deposits acquired through the acquisition s o f HCSB on July 31, 2017 and Four Oaks on November 1, 2017. (2) Based on current quarter $ in billions

Transaction Overview • Closed November 1, 2017 • 90% stock (0.6178 shares of United) and 10% cash ($1.90) - $124 million transaction value (1) • 177% P / TBV • An excellent springboard to grow and attract top - quality bankers in the Raleigh market Company Snapshot • Assets: $737 million • Loans: $513 million • Deposits: $560 million • NIM: 3.92% • Offices: 14 Compelling Financial Returns Acquisition of Four Oaks Fincorp, Inc. Source: S&P Global Market Intelligence ( 1) Based on United’s closing price of $26.48 per share on June 23, 2017 ucbi.com | 30 x 4 cents, or 2%, accretive to fully diluted 2018 EPS, excluding one - time merger charges x Less than 1% dilutive to tangible book value per share with an earn back of less than 3 years, excluding expected revenue synergies x IRR: +20% x 105 - year - old community bank located in the attractive Raleigh MSA, North Carolina’s fastest - growing market x Locally focused franchise ranked #2 among local community banks in Raleigh MSA deposit market share x 10 branches and 2 LPOs in Raleigh MSA and a branch in Dunn and Wallace, NC x Stable, low - cost funds to support strong balance sheet growth Four Oaks Four Oaks LPO United

19.3% 8.1% 7.8% HCSB UCBI South Carolina Rank Bank Branches Deposits ($MM) Mkt. Share (%) 1. BB&T 27 1,829 24.1 2. CNB Corp. 14 813 10.7 3. Wells Fargo 10 704 9.3 4. Bank of America 9 601 7.9 5. UCBI Pro Forma 10 452 5.9 Strong Demographics Myrtle Beach is the fastest growing MSA in the state Compelling Financial Returns x 3 cents, or 2%, accretive to fully - diluted EPS, excluding one - time merger charges x Accretive to tangible book value per share x Neutral to Tier 1 Capital x IRR: +20% Transaction Overview • Closed July 31, 2017 • 100% stock (fixed exchange ratio 0.0050x shares) − $66 million transaction value (1) • 132% adjusted P / TBV (2) • United recovered DTA and related tax benefits totaling approximately $15.5 million Company Snapshot • Assets: $376 million • Loans: $215 million • Deposits: $313 million • Equity: $35 million • Branches: 8 Proj. Pop. Growth ’17 - ’22 Top 5 Deposit Market Share in Myrtle Beach MSA 95 26 20 74 40 Charleston North Charleston Mount Pleasant Summerville Myrtle Beach Florence 95 Sumter Wilmington HCSB Branches UCBI Branches x Enhances franchise footprint in attractive Myrtle Beach market with #5 deposit market share rank x Partnering with a well - established community bank located in South Carolina’s fastest growing market x Strategically and financially attractive combination Acquisition of HCSB Financial Corporation Source: S&P Global Market Intelligence ( 1) Based on United’s closing price of $26.70 per share on April 19, 2017 (2) Tangible book value adjusted for recovery of deferred tax asset ucbi.com | 31

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 $12.3 billion today • Trustee of Young Harris College • Georgia Power Company Board Member • GA Economic Developers Association Spirit of Georgia Award recipient • Over 30 years in banking • Responsible for overall banking, credit and operations • Former Consultant and Special Assistant to the CEO and EVP of Commercial Banking for TD Bank Financial Group; and President & CEO of The South Financial Group • Over 25 years in financial services • Responsible for finance and reporting, accounting, M&A and investor relations • Former Associate Director of Research for Keefe, Bruyette and Woods • Georgia State’s J. Mack Robinson College of Business Advisory Board • Over 35 years in banking • Responsible for 33 community banks with 151 banking offices • Formerly of Riegel Textile Credit Union; President of Farmers and Merchants Bank • Former Georgia Board of Natural Resources Board Chairman • Over 20 years experience in consumer and banking law • Responsible for legal, enterprise risk management, and compliance • Chairman of the Georgia Bankers Association Bank Counsel Section • Member of the American Bankers Association Regional General Counsels Robert A. Edwards EVP & CCO Joined 2015 Richard W. Bradshaw President, Comm’l Banking Solutions Joined 2014 • Over 25 years in lending • Responsible for commercial banking solutions • Former SBA head: TD Bank and Carolina First’s SBA programs; President of UPS Capital Business Credit • Highly decorated Commander in the U.S. Naval Reserve Intelligence Program (retired) • Over 25 years in banking • Responsible for credit risk including credit underwriting, policy and special assets • Former EVP & Executive Credit Officer for TD Bank, NA and Chief Credit Officer of The South Financial Group. ucbi.com | 32 Jefferson L. Harralson EVP & CFO Joined 2017 Experienced Proven Leadership ucbi.com | 32

1Q17 2Q17 3Q17 4Q17 1Q18 (1) (1) (1) Net Income Net income - GAAP 23,524$ 28,267$ 27,946$ (11,916)$ 37,658$ Merger-related and other charges 2,054 1,830 3,420 7,358 2,646 Tax benefit on merger-related and other charges (758) (675) (1,147) (1,165) (628) Impairment of deferred tax asset on canceled nonqualified stock options - - - 38,199 - Release of disproportionate tax effects lodged in OCI 3,400 - - - - Net income - Operating 28,220$ 29,422$ 30,219$ 32,476$ 39,676$ Diluted Earnings per share Diluted earnings per share - GAAP 0.33$ 0.39$ 0.38$ (0.16)$ 0.47$ Merger-related and other charges 0.01 0.02 0.03 0.08 0.03 Impairment of deferred tax asset on canceled nonqualified stock options - - - 0.50 - Release of disproportionate tax effects lodged in OCI 0.05 - - - - Diluted earnings per share - Operating 0.39$ 0.41$ 0.41$ 0.42$ 0.50$ Return on Assets Return on assets - GAAP 0.89 % 1.06 % 1.01 % (0.40) % 1.26 % Merger-related and other charges 0.05 0.04 0.08 0.20 0.07 Impairment of deferred tax asset on canceled nonqualified stock options - - - 1.30 - Release of disproportionate tax effects lodged in OCI 0.13 - - - - Return on assets - Operating 1.07 % 1.10 % 1.09 % 1.10 % 1.33 % Book Value per share Book Value per share - GAAP 15.40$ 15.83$ 16.50$ 16.67$ 17.02$ Effect of goodwill and other intangibles (2.10) (2.09) (2.39) (3.02) (4.06) Tangible book value per share 13.30$ 13.74$ 14.11$ 13.65$ 12.96$ ucbi.com | 33 Non - GAAP Reconciliation Tables ucbi.com | 33 $ in thousands, except per share data (1) Merger - related and other charges for 1Q18, 4Q17 and 3Q17 include $ 592 thousand, $517 thousand and $244 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of control agreements. The resulting in tan gible assets are being amortized over 12 to 24 months.

1Q17 2Q17 3Q17 4Q17 1Q18 (1) (1) (1) Return on Tangible Common Equity Return on common equity - GAAP 8.54 % 9.98 % 9.22 % (3.57) % 11.11 % Effect of merger-related and other charges 0.47 0.41 0.75 1.86 0.60 Impairment of deferred tax asset on canceled nonqualified stock options - - - 11.44 - Release of disproportionate tax effects lodged in OCI 1.24 - - - - Return on common equity - Operating 10.25 10.39 9.97 9.73 11.71 Effect of goodwill and intangibles 1.85 1.80 1.96 2.20 3.55 Return on tangible common equity - Operating 12.10 % 12.19 % 11.93 % 11.93 % 15.26 % Expenses Expenses - GAAP 62,826$ 63,229$ 65,674$ 75,882$ 73,475$ Merger-related and other charges (2,054) (1,830) (3,420) (7,358) (2,646) Expenses - Operating 60,772$ 61,399$ 62,254$ 68,524$ 70,829$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 42,002$ 44,804$ 43,674$ 42,354$ 48,406$ Merger-related and other charges 2,054 1,830 3,420 7,358 2,646 Provision for credit losses 800 800 1,000 1,200 3,800 Pre-Tax, Pre-Credit Earnings - Operating 44,856$ 47,434$ 48,094$ 50,912$ 54,852$ Efficiency Ratio Efficiency Ratio - GAAP 59.29 % 57.89 % 59.27 % 63.03 % 57.83 % Merger-related and other charges (1.94) (1.68) (3.09) (6.11) (2.08) Efficiency Ratio - Operating 57.35 % 56.21 % 56.18 % 56.92 % 55.75 % ucbi.com | 34 Non - GAAP Reconciliation Tables ucbi.com | 34 $ in thousands, except per share data (1) Merger - related and other charges for 1Q18, 4Q17 and 3Q17 include $592 thousand, $517 thousand and $244 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of control agreements. The resulting in tan gible assets are being amortized over 12 to 24 months.