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 23, 2019

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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $1.00 per share	UCBI	Nasdaq Global Select Market

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

Emerging growth company ¨

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

Item 2.02	Results of Operations and Financial Condition.

	On July 23, 2019, United Community Banks, Inc. (“United”) issued a press release announcing financial results for the second quarter of 2019. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

Item 7.01	Regulation FD Disclosure.
	On July 24, 2019, United will hold an earnings conference call and webcast at 11:00 a.m. (Eastern Time) to discuss financial results for the second quarter of 2019. The press release referenced above in Item 2.02 contains information about how to access the conference call and webcast. A copy of the slide presentation to be used during the earnings call and webcast is furnished as Exhibit 99.2 to this Current Report on Form 8-K. The slide presentation also will be available on our website, www.ucbi.com, under the “Investor Relations – Events and Presentations” section. The information in this Item 7.01, including Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
Item 9.01	Financial Statements and Exhibits.
(d) Exhibits	The following exhibit index lists the exhibits that are either filed or furnished with the Current Report on Form 8-K.

EXHIBIT INDEX

Exhibit No.	Description

99.1	United Community Banks, Inc. Press Release, dated July 23, 2019.

99.2	Slide Presentation.

SIGNATURES

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

	UNITED COMMUNITY BANKS, INC.


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

Date: July 23, 2019

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. reports Second Quarter Results

EPS of $0.55 and ROA of 1.40%; Operating ROA reaches 1.50%

GREENVILLE, SC – July 23, 2019

United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced its second quarter financial results, including solid year-over-year loan and deposit growth, improved operating efficiency and strong asset quality. Diluted earnings per share were $0.55, an increase of $0.06 or 12% from a year ago. Excluding merger-related and other charges, diluted operating earnings per share were $0.59, up 11% over last year. United’s return on assets (“ROA”) was 1.40% and its return on common equity was 11.5% for the quarter. On an operating basis, United’s ROA was 1.50% and its return on tangible common equity was 15.9%.

In the second quarter, loans grew at a 7% annualized rate, or at 9% annualized excluding the planned runoff of the discontinued indirect auto portfolio. With this loan growth and continued balance sheet remixing opportunities, United also benefitted from net interest margin expansion during the quarter. Core transaction deposits grew by $167 million, or 9% annualized, and total customer deposits increased by $129 million during the quarter. All loan and deposit growth results noted above exclude the acquisition of First Madison Bank & Trust, which closed on May 1. Finally, United’s combination of revenue growth and expense management resulted in a 57.28% efficiency ratio, or 54.42% on an operating basis, which represented a new Company best.

“Our United bankers continue to execute on our plans and deliver outstanding results,” said Lynn Harton, Chairman and CEO of United. “I couldn’t be more proud of what they are doing to deliver both world class customer service and top quartile financial performance. I am also pleased that First Madison Bank & Trust in Athens, Georgia is now officially part of the United team. We look forward to growing our business together in the attractive Athens, Georgia market.”

Second Quarter 2019 Financial Highlights:

	·	EPS growth of 12% versus last year, or 11% on an operating basis

	·	Return on assets of 1.40%, or 1.50%, excluding merger-related and other charges

	·	Return on common equity of 11.5%

	·	Return on tangible common equity of 15.9%, excluding merger-related and other charges

	·	Loan growth, excluding planned runoff of the indirect portfolio and the acquisition of First Madison Bank & Trust, of 9% on an annualized basis

	·	Loan growth of $153 million which was more than funded by core transaction deposit growth of $167 million

	·	Expansion of the net interest margin to 4.12%, up 2 basis points from the first quarter of 2019 and up 22 basis points from a year ago

	·	Efficiency ratio of 57.3%, or 54.4%, excluding merger-related and other charges

	·	Net charge-offs of 11 basis points, improved four basis points from last quarter and at historically low levels.

Nonperforming assets of 0.21% of total assets, compared with 0.20% at March 31, 2019 and 0.20% at June 30, 2018

Conference Call

United will hold a conference call, Wednesday, July 24, 2019, 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 8388603. 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.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Selected Financial Information


																Second			For the Six
	2019						2018									Quarter			Months Ended						YTD
	Second			First			Fourth			Third			Second			2019-2018			June 30,						2019-2018
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2019			2018			Change
INCOME SUMMARY
Interest revenue	$	139,156		$	136,516		$	133,854		$	128,721		$	122,215					$	275,672		$	237,505
Interest expense		21,372			20,882			18,975			16,611			13,739						42,254			25,744
Net interest revenue		117,784			115,634			114,879			112,110			108,476			9	%		233,418			211,761			10	%
Provision for credit losses		3,250			3,300			2,100			1,800			1,800			81			6,550			5,600			17
Noninterest income		24,531			20,968			23,045			24,180			23,340			5			45,499			45,736			(1	)
Total revenue		139,065			133,302			135,824			134,490			130,016			7			272,367			251,897			8
Expenses		81,813			76,084			78,242			77,718			76,850			6			157,897			150,325			5
Income before income tax expense		57,252			57,218			57,582			56,772			53,166			8			114,470			101,572			13
Income tax expense		13,167			12,956			12,445			13,090			13,532			(3	)		26,123			24,280			8
Net income		44,085			44,262			45,137			43,682			39,634			11			88,347			77,292			14
Merger-related and other charges		4,087			739			1,234			592			2,873						4,826			5,519
Income tax benefit of merger-related and other charges		(940	)		(172	)		(604	)		(141	)		(121	)					(1,112	)		(749	)
Net income - operating ⁽¹⁾	$	47,232		$	44,829		$	45,767		$	44,133		$	42,386			11		$	92,061		$	82,062			12

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	0.55		$	0.55		$	0.56		$	0.54		$	0.49			12		$	1.10		$	0.97			13
Diluted net income - operating⁽¹⁾		0.59			0.56			0.57			0.55			0.53			11			1.15			1.03			12
Cash dividends declared		0.17			0.16			0.16			0.15			0.15			13			0.33			0.27			22
Book value		19.65			18.93			18.24			17.56			17.29			14			19.65			17.29			14
Tangible book value ⁽³⁾		15.38			14.93			14.24			13.54			13.25			16			15.38			13.25			16

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		11.45	%		11.85	%		12.08	%		11.96	%		11.20	%					11.65	%		11.15	%
Return on common equity - operating ^(1)(2)(4)		12.27			12.00			12.25			12.09			11.97						12.14			11.84
Return on tangible common equity - operating ^(1)(2)(3)(4)		15.88			15.46			15.88			15.81			15.79						15.67			15.53
Return on assets - GAAP ⁽⁴⁾		1.40			1.44			1.43			1.41			1.30						1.42			1.28
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.50			1.45			1.45			1.42			1.39						1.48			1.36
Dividend payout ratio - GAAP		30.91			29.09			28.57			27.78			30.61						30.00			27.84
Dividend payout ratio - operating ⁽¹⁾		28.81			28.57			28.07			27.27			28.30						28.70			26.21
Net interest margin (fully taxable equivalent) ⁽⁴⁾		4.12			4.10			3.97			3.95			3.90						4.11			3.85
Efficiency ratio - GAAP		57.28			55.32			56.73			56.82			57.94						56.32			57.89
Efficiency ratio - operating⁽¹⁾		54.42			54.78			55.83			56.39			55.77						54.60			55.76
Average equity to average assets		12.14			11.82			11.35			11.33			11.21						11.98			11.13
Average tangible common equity to average assets ⁽³⁾		9.79			9.53			9.04			8.97			8.83						9.66			8.82
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		12.36			12.48			12.00			11.61			11.36						12.36			11.36

ASSET QUALITY
Nonperforming loans	$	26,597		$	23,624		$	23,778		$	22,530		$	21,817			22		$	26,597		$	21,817			22
Foreclosed properties		75			1,127			1,305			1,336			2,597			(97	)		75			2,597			(97	)
Total nonperforming assets (NPAs)		26,672			24,751			25,083			23,866			24,414			9			26,672			24,414			9
Allowance for loan losses		62,204			61,642			61,203			60,940			61,071			2			62,204			61,071			2
Net charge-offs		2,438			3,130			1,787			1,466			1,359			79			5,568			2,860			95
Allowance for loan losses to loans		0.70	%		0.73	%		0.73	%		0.74	%		0.74	%					0.70	%		0.74	%
Net charge-offs to average loans ⁽⁴⁾		0.11			0.15			0.09			0.07			0.07						0.13			0.07
NPAs to loans and foreclosed properties		0.30			0.29			0.30			0.29			0.30						0.30			0.30
NPAs to total assets		0.21			0.20			0.20			0.19			0.20						0.21			0.20

AVERAGE BALANCES ($ in millions)
Loans	$	8,670		$	8,430		$	8,306		$	8,200		$	8,177			6		$	8,551		$	8,086			6
Investment securities		2,674			2,883			3,004			2,916			2,802			(5	)		2,778			2,836			(2	)
Earning assets		11,534			11,498			11,534			11,320			11,193			3			11,516			11,135			3
Total assets		12,608			12,509			12,505			12,302			12,213			3			12,559			12,163			3
Deposits		10,493			10,361			10,306			9,950			9,978			5			10,427			9,869			6
Shareholders’ equity		1,531			1,478			1,420			1,394			1,370			12			1,505			1,353			11
Common shares - basic (thousands)		79,673			79,807			79,884			79,806			79,753			-			79,739			79,477			-
Common shares - diluted (thousands)		79,678			79,813			79,890			79,818			79,755			-			79,745			79,487			-

AT PERIOD END ($ in millions)
Loans	$	8,838		$	8,493		$	8,383		$	8,226		$	8,220			8		$	8,838		$	8,220			8
Investment securities		2,620			2,720			2,903			2,873			2,834			(8	)		2,620			2,834			(8	)
Total assets		12,779			12,506			12,573			12,405			12,386			3			12,779			12,386			3
Deposits		10,591			10,534			10,535			10,229			9,966			6			10,591			9,966			6
Shareholders’ equity		1,566			1,508			1,458			1,402			1,379			14			1,566			1,379			14
Common shares outstanding (thousands)		79,075			79,035			79,234			79,202			79,138			-			79,075			79,138			-

⁽¹⁾ Excludes merger-related and other charges which includes amortization of certain executive change of control benefits. ⁽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⁾ Second quarter 2019 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information


	2019						2018									For the Six Months Ended
	Second			First			Fourth			Third			Second			June 30,
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			2019			2018

Expense reconciliation
Expenses (GAAP)	$	81,813		$	76,084		$	78,242		$	77,718		$	76,850		$	157,897		$	150,325
Merger-related and other charges		(4,087	)		(739	)		(1,234	)		(592	)		(2,873	)		(4,826	)		(5,519	)
Expenses - operating	$	77,726		$	75,345		$	77,008		$	77,126		$	73,977		$	153,071		$	144,806

Net income reconciliation
Net income (GAAP)	$	44,085		$	44,262		$	45,137		$	43,682		$	39,634		$	88,347		$	77,292
Merger-related and other charges		4,087			739			1,234			592			2,873			4,826			5,519
Income tax benefit of merger-related and other charges		(940	)		(172	)		(604	)		(141	)		(121	)		(1,112	)		(749	)
Net income - operating	$	47,232		$	44,829		$	45,767		$	44,133		$	42,386		$	92,061		$	82,062
Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	0.55		$	0.55		$	0.56		$	0.54		$	0.49		$	1.10		$	0.97
Merger-related and other charges		0.04			0.01			0.01			0.01			0.04			0.05			0.06
Diluted income per common share - operating	$	0.59		$	0.56		$	0.57		$	0.55		$	0.53		$	1.15		$	1.03

Book value per common share reconciliation
Book value per common share (GAAP)	$	19.65		$	18.93		$	18.24		$	17.56		$	17.29		$	19.65		$	17.29
Effect of goodwill and other intangibles		(4.27	)		(4.00	)		(4.00	)		(4.02	)		(4.04	)		(4.27	)		(4.04	)
Tangible book value per common share	$	15.38		$	14.93		$	14.24		$	13.54		$	13.25		$	15.38		$	13.25

Return on tangible common equity reconciliation
Return on common equity (GAAP)		11.45	%		11.85	%		12.08	%		11.96	%		11.20	%		11.65	%		11.15	%
Merger-related and other charges		0.82			0.15			0.17			0.13			0.77			0.49			0.69
Return on common equity - operating		12.27			12.00			12.25			12.09			11.97			12.14			11.84
Effect of goodwill and other intangibles		3.61			3.46			3.63			3.72			3.82			3.53			3.69
Return on tangible common equity - operating		15.88	%		15.46	%		15.88	%		15.81	%		15.79	%		15.67	%		15.53	%

Return on assets reconciliation
Return on assets (GAAP)		1.40	%		1.44	%		1.43	%		1.41	%		1.30	%		1.42	%		1.28	%
Merger-related and other charges		0.10			0.01			0.02			0.01			0.09			0.06			0.08
Return on assets - operating		1.50	%		1.45	%		1.45	%		1.42	%		1.39	%		1.48	%		1.36	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		30.91	%		29.09	%		28.57	%		27.78	%		30.61	%		30.00	%		27.84	%
Merger-related and other charges		(2.10	)		(0.52	)		(0.50	)		(0.51	)		(2.31	)		(1.30	)		(1.63	)
Dividend payout ratio - operating		28.81	%		28.57	%		28.07	%		27.27	%		28.30	%		28.70	%		26.21	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		57.28	%		55.32	%		56.73	%		56.82	%		57.94	%		56.32	%		57.89	%
Merger-related and other charges		(2.86	)		(0.54	)		(0.90	)		(0.43	)		(2.17	)		(1.72	)		(2.13	)
Efficiency ratio - operating		54.42	%		54.78	%		55.83	%		56.39	%		55.77	%		54.60	%		55.76	%

Average equity to average assets reconciliation
Average equity to assets (GAAP)		12.14	%		11.82	%		11.35	%		11.33	%		11.21	%		11.98	%		11.13	%
Effect of goodwill and other intangibles		(2.35	)		(2.29	)		(2.31	)		(2.36	)		(2.38	)		(2.32	)		(2.31	)
Average tangible common equity to average assets		9.79	%		9.53	%		9.04	%		8.97	%		8.83	%		9.66	%		8.82	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		12.36	%		12.69	%		12.42	%		12.25	%		11.94	%		12.36	%		11.94	%
Effect of other comprehensive income		0.07			(0.17	)		(0.44	)		(0.68	)		(0.57	)		0.07			(0.57	)
Effect of deferred tax limitation		0.18			0.22			0.28			0.30			0.33			0.18			0.33
Effect of trust preferred		(0.25	)		(0.26	)		(0.26	)		(0.26	)		(0.34	)		(0.25	)		(0.34	)
Tangible common equity to risk-weighted assets		12.36	%		12.48	%		12.00	%		11.61	%		11.36	%		12.36	%		11.36	%

⁽¹⁾Second quarter 2019 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End


	2019				2018						Linked			Year over
(in millions)	Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		Quarter Change			Year Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,658	$	1,620	$	1,648	$	1,673	$	1,682	$	38		$	(24	)
Income producing commercial RE		1,939		1,867		1,812		1,788		1,821		72			118
Commercial & industrial		1,299		1,284		1,278		1,194		1,193		15			106
Commercial construction		983		866		796		761		735		117			248
Equipment financing		674		606		565		509		465		68			209
Total commercial		6,553		6,243		6,099		5,925		5,896		310			657
Residential mortgage		1,108		1,064		1,049		1,035		1,021		44			87
Home equity lines of credit		675		684		694		702		708		(9	)		(33	)
Residential construction		219		200		211		198		195		19			24
Consumer		283		302		330		366		400		(19	)		(117	)
Total loans	$	8,838	$	8,493	$	8,383	$	8,226	$	8,220		345			618

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality


(in thousands)	Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018
NONACCRUAL LOANS BY CATEGORY
Owner occupied CRE	$	8,177		$	7,030		$	6,421
Income producing CRE		1,331			1,276			1,160
Commercial & industrial		2,366			1,666			1,417
Commercial construction		1,650			473			605
Equipment financing		2,047			1,813			2,677
Total commercial		15,571			12,258			12,280
Residential mortgage		8,012			8,281			8,035
Home equity lines of credit		1,978			2,233			2,360
Residential construction		494			347			288
Consumer		542			505			815
Total NPAs	$	26,597		$	23,624		$	23,778

NONACCRUAL LOANS ACTIVITY
Beginning Balance	$	23,624		$	23,778		$	22,530
Loans placed on non-accrual		8,316			6,759			5,829
Payments received		(3,212	)		(3,520	)		(2,780	)
Loan charge-offs		(2,131	)		(2,714	)		(933	)
Foreclosures		-			(679	)		(868	)
Ending Balance	$	26,597		$	23,624		$	23,778

	Second Quarter 2019						First Quarter 2019						Fourth Quarter 2018
(in thousands)	Net Charge-Offs			Net Charge- Offs to Average Loans ⁽¹⁾			Net Charge-Offs			Net Charge- Offs to Average Loans ⁽¹⁾			Net Charge-Offs			Net Charge- Offs to Average Loans ⁽¹⁾
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	(58	)		(0.01	)%	$	(64	)		(0.02	)%	$	(52	)		(0.01	)%
Income producing CRE		241			0.05			177			0.04			399			0.09
Commercial & industrial		1,141			0.35			1,356			0.43			(149	)		(0.05	)
Commercial construction		(162	)		(0.07	)		(325	)		(0.16	)		(230	)		(0.12	)
Equipment financing		890			0.56			1,281			0.89			599			0.44
Total commercial		2,052			0.13			2,425			0.16			567			0.04
Residential mortgage		(125	)		(0.05	)		13			-			290			0.11
Home equity lines of credit		(111	)		(0.07	)		215			0.13			382			0.22
Residential construction		199			0.38			(22	)		(0.04	)		(36	)		(0.07	)
Consumer		423			0.58			499			0.64			584			0.67
Total	$	2,438			0.11		$	3,130			0.15		$	1,787			0.09

⁽¹⁾ Annualized.

UNITED COMMUNITY BANKS, INC.

Consolidated Statements of Income (Unaudited)


	Three Months Ended					Six Months Ended
	June 30,					June 30,
(in thousands, except per share data)	2019		2018			2019			2018
Interest revenue:
Loans, including fees	$	119,671	$	103,492		$	234,930		$	199,961
Investment securities, including tax exempt of $1,122, $1,025, $2,291 and $1,997		19,076		18,254			39,894			36,549
Deposits in banks and short-term investments		409		469			848			995
Total interest revenue		139,156		122,215			275,672			237,505

Interest expense:
Deposits:
NOW and interest-bearing demand		3,377		1,303			6,913			2,416
Money market		4,925		2,583			9,130			4,758
Savings		42		35			74			84
Time		8,771		4,198			16,955			7,154
Total deposit interest expense		17,115		8,119			33,072			14,412
Short-term borrowings		248		198			409			498
Federal Home Loan Bank advances		752		1,636			2,174			3,760
Long-term debt		3,257		3,786			6,599			7,074
Total interest expense		21,372		13,739			42,254			25,744
Net interest revenue		117,784		108,476			233,418			211,761
Provision for credit losses		3,250		1,800			6,550			5,600
Net interest revenue after provision for credit losses		114,534		106,676			226,868			206,161

Noninterest income:
Service charges and fees		9,060		8,794			17,513			17,719
Mortgage loan and other related fees		5,344		5,307			9,092			10,666
Brokerage fees		1,588		1,201			2,925			2,073
Gains from sales of SBA/USDA loans		1,470		2,401			2,773			4,179
Securities gains (losses), net		149		(364	)		(118	)		(1,304	)
Other		6,920		6,001			13,314			12,403
Total noninterest income		24,531		23,340			45,499			45,736
Total revenue		139,065		130,016			272,367			251,897

Noninterest expenses:
Salaries and employee benefits		48,157		45,363			95,660			88,238
Communications and equipment		6,222		4,849			12,010			9,481
Occupancy		5,919		5,547			11,503			11,160
Advertising and public relations		1,596		1,384			2,882			2,899
Postage, printing and supplies		1,529		1,685			3,115			3,322
Professional fees		4,054		3,464			7,215			7,508
FDIC assessments and other regulatory charges		1,547		1,973			3,257			4,449
Amortization of intangibles		1,342		1,847			2,635			3,745
Merger-related and other charges		3,894		2,280			4,440			4,334
Other		7,553		8,458			15,180			15,189
Total noninterest expenses		81,813		76,850			157,897			150,325
Net income before income taxes		57,252		53,166			114,470			101,572
Income tax expense		13,167		13,532			26,123			24,280
Net income	$	44,085	$	39,634		$	88,347		$	77,292

Net income available to common shareholders	$	43,769	$	39,359		$	87,716		$	76,740

Earnings per common share:
Basic	$	0.55	$	0.49			1.10		$	0.97
Diluted		0.55		0.49			1.10			0.97
Weighted average common shares outstanding:
Basic		79,673		79,745			79,739			79,477
Diluted		79,678		79,755			79,745			79,487

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheets (Unaudited)


	June 30,			December 31,
(in thousands, except share and per share data)	2019			2018
ASSETS
Cash and due from banks	$	118,361		$	126,083
Interest-bearing deposits in banks		157,418			201,182
Cash and cash equivalents		275,779			327,265
Debt securities available for sale		2,366,502			2,628,467
Debt securities held to maturity (fair value $256,975 and $268,803)		253,398			274,407
Loans held for sale at fair value		46,285			18,935
Loans and leases, net of unearned income		8,838,218			8,383,401
Less allowance for loan and lease losses		(62,204	)		(61,203	)
Loans, net		8,776,014			8,322,198
Premises and equipment, net		217,086			206,140
Bank owned life insurance		200,993			192,616
Accrued interest receivable		35,439			35,413
Net deferred tax asset		40,870			64,224
Derivative financial instruments		35,209			24,705
Goodwill and other intangible assets		344,550			324,072
Other assets		187,313			154,750
Total assets	$	12,779,438		$	12,573,192
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand	$	3,461,584		$	3,210,220
NOW and interest-bearing demand		2,059,694			2,274,775
Money market		2,281,818			2,097,526
Savings		693,961			669,886
Time		1,840,271			1,598,391
Brokered		253,942			683,715
Total deposits		10,591,270			10,534,513
Short-term borrowings		40,000			-
Federal Home Loan Bank advances		160,000			160,000
Long-term debt		247,952			267,189
Derivative financial instruments		16,769			26,433
Accrued expenses and other liabilities		157,113			127,503
Total liabilities		11,213,104			11,115,638
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized; 79,075,219 and 79,234,077 shares issued and outstanding		79,075			79,234
Common stock issuable; 641,725 and 674,499 shares		10,858			10,744
Capital surplus		1,498,740			1,499,584
Accumulated deficit		(29,116	)		(90,419	)
Accumulated other comprehensive income (loss)		6,777			(41,589	)
Total shareholders' equity		1,566,334			1,457,554
Total liabilities and shareholders' equity	$	12,779,438		$	12,573,192

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended June 30,


	2019								2018
	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⁾	$	8,669,847		$	119,668		5.54	%	$	8,177,343		$	103,395		5.07	%
Taxable securities ⁽³⁾		2,506,942			17,954		2.86			2,651,816			17,229		2.60
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		166,628			1,507		3.62			150,503			1,380		3.67
Federal funds sold and other interest-earning assets		190,678			679		1.42			212,849			674		1.27

Total interest-earning assets (FTE)		11,534,095			139,808		4.86			11,192,511			122,678		4.39
Noninterest-earning assets:
Allowance for loan losses		(62,716	)							(62,275	)
Cash and due from banks		125,021								133,060
Premises and equipment		224,018								218,517
Other assets ⁽³⁾		787,859								731,514
Total assets	$	12,608,277							$	12,213,327

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	2,107,041			3,377		0.64		$	2,071,289			1,303		0.25
Money market		2,269,321			4,925		0.87			2,214,077			2,583		0.47
Savings		687,753			42		0.02			678,988			35		0.02
Time		1,773,968			6,949		1.57			1,524,124			2,696		0.71
Brokered time deposits		298,553			1,822		2.45			300,389			1,502		2.01
Total interest-bearing deposits		7,136,636			17,115		0.96			6,788,867			8,119		0.48

Federal funds purchased and other borrowings		38,838			248		2.56			45,241			198		1.76
Federal Home Loan Bank advances		117,912			752		2.56			335,521			1,636		1.96
Long-term debt		252,351			3,257		5.18			316,812			3,786		4.79
Total borrowed funds		409,101			4,257		4.17			697,574			5,620		3.23

Total interest-bearing liabilities		7,545,737			21,372		1.14			7,486,441			13,739		0.74
Noninterest-bearing liabilities:
Noninterest-bearing deposits		3,355,930								3,188,847
Other liabilities		175,806								168,417
Total liabilities		11,077,473								10,843,705
Shareholders' equity		1,530,804								1,369,622
Total liabilities and shareholders' equity	$	12,608,277							$	12,213,327

Net interest revenue (FTE)				$	118,436							$	108,939
Net interest-rate spread (FTE)							3.72	%							3.65	%

Net interest margin (FTE) ⁽⁴⁾							4.12	%							3.90	%

⁽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 26%, 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 $5.00 million in 2019 and pretax unrealized losses of $42.9 million in 2018 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,


	2019								2018
	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⁾	$	8,550,574		$	235,015		5.54	%	$	8,085,849		$	199,784		4.98	%
Taxable securities ⁽³⁾		2,609,400			37,603		2.88			2,687,200			34,552		2.57
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		168,156			3,077		3.66			148,528			2,689		3.62
Federal funds sold and other interest-earning assets		188,165			1,297		1.38			212,951			1,372		1.29

Total interest-earning assets (FTE)		11,516,295			276,992		4.84			11,134,528			238,397		4.31
Noninterest-earning assets:
Allowance for loan losses		(62,253	)							(60,718	)
Cash and due from banks		124,414								146,697
Premises and equipment		220,335								217,625
Other assets ⁽³⁾		759,899								724,488
Total assets	$	12,558,690							$	12,162,620

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	2,157,648			6,913		0.65		$	2,077,461			2,416		0.23
Money market		2,222,846			9,130		0.83			2,222,304			4,758		0.43
Savings		680,018			74		0.02			667,431			84		0.03
Time		1,701,181			12,285		1.46			1,529,639			4,937		0.65
Brokered time deposits		389,794			4,670		2.42			229,766			2,217		1.95
Total interest-bearing deposits		7,151,487			33,072		0.93			6,726,601			14,412		0.43

Federal funds purchased and other borrowings		30,241			409		2.73			61,894			498		1.62
Federal Home Loan Bank advances		170,636			2,174		2.57			423,137			3,760		1.79
Long-term debt		257,134			6,599		5.18			295,763			7,074		4.82
Total borrowed funds		458,011			9,182		4.04			780,794			11,332		2.93

Total interest-bearing liabilities		7,609,498			42,254		1.12			7,507,395			25,744		0.69
Noninterest-bearing liabilities:
Noninterest-bearing deposits		3,275,612								3,142,384
Other liabilities		169,048								159,734
Total liabilities		11,054,158								10,809,513
Shareholders' equity		1,504,532								1,353,107
Total liabilities and shareholders' equity	$	12,558,690							$	12,162,620

Net interest revenue (FTE)				$	234,738							$	212,653
Net interest-rate spread (FTE)							3.72	%							3.62	%

Net interest margin (FTE) ⁽⁴⁾							4.11	%							3.85	%

⁽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 26%, 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 $10.4 million in 2019 and pretax unrealized losses of $35.6 million in 2018 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.

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the southeast region’s largest full-service financial institutions with $12.8 billion in assets, and 147 offices in Georgia, North Carolina, South Carolina and Tennessee. It operates principally through United Community Bank, its bank subsidiary, which specializes in personalized community banking services for individuals, small businesses and companies. 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 five of the past six years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2019, for the sixth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America, and for the first time included United on its list of The World’s Best Banks. Additional information about UCBI and the Bank 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 common share,” “operating earnings per 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.

# # #

Exhibit 99.2

2 nd Quarter 2019 Investor Presentation July 23, 2019

Disclosures ucbi.com | 2 CAUTIONARY STATEMENT This Investor Presentation contains forward - looking statements, as defined by federal securities laws, including statements about United Community Banks, Inc . (“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’s filings with the Securities and Exchange Commission, including its 2018 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 Investor 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 . ” Management has included these non - GAAP measures because it believes these measures may provide useful supplemental information for evaluating United’s underlying performance trends . Further, management uses these measures in managing and evaluating United’s 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 .

Who We Are - Snapshot of United Community Banks, Inc. ucbi.com | 3 United Community Bank 141 Branch locations 6 Loan Production Offices 5 Mortgage Loan Offices Market data as of July 19, 2019 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance measures » One of the largest regional banks in the U.S. by assets with 141 branch locations, 6 loan production offices and 5 mortgage loan offices in four states: GA, NC, SC and TN » Top 10 market share in GA and SC » National recognition for our outstanding workplace and customer service while maintaining top tier profitability » Metro - focused branch network with locations in the fastest growing MSAs in the Southeast Premier Southeast Regional Bank 2Q19 Overview Ticker UCBI (NASDAQ) Market Cap $2.2Bn P/EPS (2020E) 11.8x P/TBV 182% Assets $12.8Bn Loans $8.8Bn Deposits $10.6Bn CET1* 12.1% NPAs / Assets 0.21% ROA 1.40% ROA – Operating (1) 1.50% ROCE 11.45% ROTCE – Operating (1) 15.88% *2Q19 Capital ratios are preliminary Headquartered in Blairsville, GA with executive offices in Greenville, SC

Our Goals ucbi.com | 4 We have a long - term mindset , building a company where great people can be successful and confident; they can have a career, not a job. We are here to help customers live better lives by providing better service to them. We listen , we provide great advice and we are responsive. We care, and it shows. We earn our independence by consistently providing top quartile returns for our owners through the cycle. Great Place to Work for Great People People Best - in - Class Customer Service Rating across all channels Service Sustainable Top Quartile ROA Profitability

$17.29 $18.93 $19.65 $13.25 $14.93 $15.38 2Q18 1Q19 2Q19 Book Value Per Share (2) Book Value (GAAP) Tangible Book Value (non-GAAP) (1) 2Q19 Highlights ucbi.com | 5 $0.49 $0.55 $0.55 $0.53 $0.56 $0.59 2Q18 1Q19 2Q19 Earnings Per Share GAAP Operating (1) 1.30% 1.44% 1.40% 1.39% 1.45% 1.50% 2Q18 1Q19 2Q19 Return on Assets GAAP Operating (1) $0.38 $0.58 $0.33 2017 2018 YTD 2019 Dividends Per Share » Earnings per share of $0.55 » Operating earnings per share of $0.59, up 11% YoY » ROA of 1.40 » Operating ROA of 1.50% » Quarterly dividend of $0.17 up 13% YoY » Growth in tangible book per share of 16% YoY » Annualized EOP loan growth of 9% for the quarter, excluding First Madison ($192 mm) and indirect auto runoff of $26 mm » Core transaction deposit growth of $167 mm in 2Q, excluding First Madison 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance 2) Excludes effect of acquisition - related intangibles and associated amortization

$108.5 $115.6 $117.8 2Q18 1Q19 2Q19 Net Interest Revenue / Margin ucbi.com | 6 (1) Net Interest Revenue Net Interest Margin 1) Net interest margin is calculated on a fully - taxable equivalent basis 3.90% 4.10% 4.12% » Net interest revenue increased $2.2 mm (2%) vs. 1Q19 and $9.3 mm (9%) vs. 2Q18 » Net interest margin up 2 bps quarter over quarter and 22 bps YoY » Benefited from organic loan growth, First Madison and Navitas acquisition and a continued shift towards loans from securities » Accretable yield contributed $3.5 mm or 12 bps to 2Q19 NIM vs. 11 bps in 1Q19 $ in millions

Valuable Deposit Mix ucbi.com | 7 33% 19% 22% 7% 19% 2Q19 Total Deposits $10.6 billion DDA MMDA Savings Time » 33% of deposits are Demand Deposits » UCBI cost of deposits up 3 bps to 0.65% in 2Q19 » UCBI cost of deposits significantly lower than KRX peer levels (62 bps in 1Q19 vs. KRX peers at 80 bps) NOW

Strong Core Transaction Deposit Growth ucbi.com | 8 $6.957 $7.091 $7.399 4Q18 1Q19 2Q19 » Transaction accounts up $307 mm in 2Q19, $140 mm of which came from First Madison » Demand deposits up $119 mm from 1Q19, which drove the majority of 2Q19 core transaction growth* » Transaction accounts increased 9% annualized YTD* » Excluding First Madison, transaction accounts up $302 mm YTD, which fully funded $263 mm in loan growth * Excluding First Madison $ in billions

Loans ucbi.com | 9 » Annualized linked quarter loan growth was $345 mm, or 16% » Excluding the impact of planned indirect auto runoff and the addition of First Madison, linked quarter loan growth was 9% annualized » Diversified portfolio, weighted towards C&I » Well within regulatory guidance on construction and CRE levels » The 100%/300% ratios stand at 87% and 216%, respectively 1) C&I includes commercial and industrial loans, owner - occupied CRE loans and equipment finance loans 41% 11% 22% 3% 13% 8% 2% C&I Commercial Construction CRE Other Consumer Residential Mortgage Home Equity Residential Construction 2Q19 Total Loans $8.8 billion

Noninterest Income ucbi.com | 10 $8.8 $9.2 $9.0 $5.6 $6.1 $7.1 $1.2 $1.3 $1.6 $5.3 $3.8 $5.3 $2.4 $1.3 $1.5 2Q18 1Q19 2Q19 Service Charges Other Brokerage Mortgage SBA $23.3 $21.0 $24.5 Linked Quarter » Fees up $3.5 mm » Mortgage fees up $1.6 mm driven mainly by higher production ($390 mm in 2Q19 rate locks vs. $312 mm in 1Q19) » SBA fees up $0.17 mm from 1Q19 to $1.5 mm from 1Q19 » Driving the Other fees category higher, customer derivative fees up $0.7 mm from 1Q19 due to higher production volumes and rate movements » First Madison added $0.3 mm of fee revenue to 2Q19, mostly in interchange and overdraft fees Year - over - Year » Fees up $1.2 mm to $24.5 mm » Rate locks up 25% compared to last year ($390 mm in 2Q19 vs. $313 mm in 2Q18) » 2Q19 SBA loan sales of $17.1 mm, down 40% from $28.5 mm in 2Q18 due to strategic change to hold more production $ in millions

$76.9 $76.1 $81.8 $74.0 $75.3 $77.7 2Q18 1Q19 2Q19 57.9% 55.3% 57.3% 55.8% 54.8% 54.4% Expense Discipline ucbi.com | 11 $ in millions Efficiency Ratio (1) GAAP Operating (1) 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance measures Linked Quarter » GAAP and operating expenses increased 8% and 3%, respectively » Salary and benefits expenses in the form of merit increases and higher mortgage commissions drove the majority of the increase versus last quarter; First Madison added $0.4 mm of 2Q expenses » Operating efficiency ratio improved 36 bps to 54.4% Year - over - Year » Market expansions and acquisitions drove GAAP and operating expenses higher by 6% and 5%, respectively » Continued cost control efforts help drive operating efficiency ratio improvement of 135 bps GAAP Operating Expenses (1)

Credit Quality ucbi.com | 12 0.07% 0.15% 0.11% 2Q18 1Q19 2Q19 Net Charge - Offs as % of Average Loans 0.20% 0.20% 0.21% 2Q18 1Q19 2Q19 Non - Performing Assets as % of Total Assets $1.80 $3.30 $3.25 2Q18 1Q19 2Q19 Provision for Credit Losses $ in millions 0.74% 0.73% 0.70% 2Q18 1Q19 2Q19 Allowance for Loan Losses

Capital Ratios ucbi.com | 13 » All cash First Madison deal generally levered regulatory capital ratios » TCE increased slightly as a positive OCI mark offset goodwill resulting from the First Madison transaction » All regulatory capital ratios significantly above “well - capitalized” » Quarterly dividend of $0.17 per share (up 13% YoY ) » No share repurchases in 2Q19; $42 mm remaining on current share repurchase authorization Holding Company 2Q18 1Q19 2Q19* Common Equity Tier 1 Capital 11.6 % 12.4 % 12.1 % Tier 1 Risk-Based Capital 11.9 12.7 12.4 Total Risk-Based Capital 13.8 14.6 14.2 Leverage 9.3 9.9 10.0 Tangible Common Equity to Tangible Assets 8.8 9.8 9.9 *2Q19 Capital Ratios are preliminary

Key Strengths ucbi.com | 14 » 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 strong core deposit growth » Well - developed credit model that drives consistent performance through cycles » Liquid balance sheet and strong capital offer flexibility in changing rate environments

Acquisition of First Madison Bank & Trust ucbi.com | 15 Transaction Overview » Announced February 5, 2019 » Closed on May 1, 2019 » 100% cash » $52 million transaction value » 172% P/TBV » Strategic fill - in with a well - established, high - performing community bank Company Snapshot * » Assets: $258 million » Loans: $202 million » Deposits: $213 million » NIM: 4.34% » Offices: 4 Compelling Financial Returns » Well established community bank located in the attractive Athens - Clarke County MSA » Locally focused franchise that is a natural geographic extension of our existing footprint » High performing partner leading to desirable financial returns UCBI FMBT » Slightly accretive to projected 2019 EPS for its partial year contribution, excluding one - time merger charges » $.05 accretive to projected 2020 EPS » 2% dilutive to tangible book value per share » Financial returns not dependent upon cost savings, which are < 20% of non - interest expenses Source: S&P Global Market Intelligence *At announcement

Presentation Exhibits

Who We Are Full - Service Regional Bank with a Strong Culture Rooted in Sound Credit Underwriting & Growth ucbi.com | 17 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 » 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

AWARDS AND RECOGNITION ucbi.com | 18

Who We Are Focused on High - Growth MSAs in Southeast ucbi.com | 19 Fastest Growing Southeast MSAs (1) 2019 - 2024 Projected Population Growth 2019 Population 2024 Projected Median Household Income 1. Myrtle Beach, SC 9.66% 485,770 $55,203 2. Cape Coral, FL 8.46% 757,170 $62,988 3. Orlando, FL 8.13% 2,589,416 $65,275 4. Charleston, SC 8.11% 799,117 $70,920 5. Raleigh, NC 8.02% 1,366,959 $85,734 6. Naples, FL 7.86% 381,728 $73,715 7. Lakeland, FL 7.55% 705,037 $54,996 8. North Port, FL 7.53% 825,378 $66,059 9. Charlotte, NC 7.29% 2,591,118 $73,487 10. Jacksonville, FL 6.92% 1,549,094 $67,247 17. Atlanta, GA 6.52% 6,017,552 $77,092 19. Greenville, SC 6.18% 912,621 $62,654 20. Savannah, GA 6.15% 395,004 $68,589 23. Spartanburg, SC 5.93% 340,535 $55,507 10.8% 8.8% UCBI US ’19 – ’24 Projected Household Income Growth 5.2% 3.6% UCBI US ’19 – ’24 Projected Population Growth Strong Demographic Profile (2) $57,412 $63,174 UCBI US Median Household Income UCBI MSA Presence (Branch and or LPO) Source: S&P Global Market Intelligence Note: 1) Includes MSAs with a population of greater than 300,000 2) Weighted by State deposits

21% 17% 11% 9% 10% 9% 6% 17% Commercial Real Estate - Income Producing % Outstanding Total Outstanding $1.9 billion Commercial RE Diversification – 6/30/2019 ucbi.com | 20 Outstanding Average Loan Size (in thousands ) » Commercial Construction $456 » Commercial RE: » Composite CRE 437 » Owner - Occupied 355 » Income - Producing 546 Office Buildings Retail Buildings Assisted Living/Nursing Home/Rehab Centers Investor Residential Hotels/Motels Warehouse Multi - Residential Properties Other

Strong Credit Culture ucbi.com | 21 BUILT TO OUTPERFORM IN THE NEXT CYCLE 1 . Process Change » In 2014, centralized and streamlined consumer underwriting and related functions » Significantly strengthened commercial process for approvals and monitoring 2. Add Significant Talent » CEO with deep knowledge and experience in credit » 2015 Rob Edwards brought in to lead team (BB&T, TD Bank) » Senior credit risk team now has large bank credit risk experience 3. Concentration Management: Size » In house project lending limit of $20 mm, legal lending limit of $352 mm » Relationship limit of $35 mm » $98 mm of SNC’s outstanding, $179 mm committed » Top 25 relationships = $653 mm, 7.4 % of total loans 4. Concentration Management: Geography » Four state franchise with mix of metro and rural markets 5. Concentration Management: Product » Construction/CRE ratio = 87%/216% » C&D > 30% in cycle, now 14.7% » Land in C&D $230 mm and shrinking » Navitas 7.63% of loans » Granular product concentration limits

Non - GAAP Reconciliation Tables ucbi.com | 22 $ in thousands, except per share data 2Q18 3Q18 4Q18 1Q19 2Q19 (1) (1) (1) (1) (1) Net Income Net income - GAAP 39,634$ 43,682$ 45,137$ 44,262$ 44,085$ Merger-related and other charges 2,873 592 1,234 739 4,087 Tax benefit on merger-related and other charges (121) (141) (604) (172) (940) Net income - Operating 42,386$ 44,133$ 45,767$ 44,829$ 47,232$ Diluted Earnings per share Diluted earnings per share - GAAP 0.49$ 0.54$ 0.56$ 0.55$ 0.55$ Merger-related and other charges 0.04 0.01 0.01 0.01 0.04 Diluted earnings per share - Operating 0.53 0.55 0.57 0.56 0.59 Return on Assets Return on assets - GAAP 1.30 % 1.41 % 1.43 % 1.44 % 1.40 % Merger-related and other charges 0.09 0.01 0.02 0.01 0.10 Return on assets - Operating 1.39 % 1.42 % 1.45 % 1.45 % 1.50 % Book Value per share Book Value per share - GAAP 17.29$ 17.56$ 18.24$ 18.93$ 19.65$ Effect of goodwill and other intangibles (4.04) (4.02) (4.00) (4.00) (4.27) Tangible book value per share 13.25$ 13.54$ 14.24$ 14.93$ 15.38$ 1) Merger - related and other charges for 2Q19, 1Q19, 4Q18, 3Q18, 2Q18 and 1Q18 include $193 thousand, $193 thousand, $269 thousand, $478 thousand, $593 thousand and $593 thousand, respectively, of intangible amortization resulting from payments made to exec uti ves under their change of control agreements. The resulting intangible assets are being amortized over 12 to 24 months.

Non - GAAP Reconciliation Tables ucbi.com | 23 $ in thousands, except per share data 2Q18 3Q18 4Q18 1Q19 2Q19 (1) (1) (1) (1) (1) Return on Tangible Common Equity Return on common equity - GAAP 11.20 % 11.96 % 12.08 % 11.85 % 11.45 % Effect of merger-related and other charges 0.77 0.13 0.17 0.15 0.82 Return on common equity - Operating 11.97 12.09 12.25 12.00 12.27 Effect of goodwill and intangibles 3.82 3.72 3.63 3.46 3.61 Return on tangible common equity - Operating 15.79 % 15.81 % 15.88 % 15.46 % 15.88 % Expenses Expenses - GAAP 76,850$ 77,718$ 78,242$ 76,084$ 81,813$ Merger-related and other charges (2,873) (592) (1,234) (739) (4,087) Expenses - Operating 73,977$ 77,126$ 77,008$ 75,345$ 77,726$ Efficiency Ratio Efficiency Ratio - GAAP 57.94 % 56.82 % 56.73 % 55.32 % 57.28 % Merger-related and other charges (2.17) (0.43) (0.90) (0.54) (2.86) Efficiency Ratio - Operating 55.77 % 56.39 % 55.83 % 54.78 % 54.42 % Tangible common equity to tangible assets Common Equity to assets ratio - GAAP 11.13 % 11.30 % 11.59 % 12.06 % 12.26 % Effect of goodwill and intangibles (2.37) (2.35) (2.30) (2.30) (2.40) Tangible common equity to tangible assets ratio 8.76 % 8.95 % 9.29 % 9.76 % 9.86 % 1) Merger - related and other charges for 2Q19, 1Q19, 4Q18, 3Q18, 2Q18 and 1Q18 include $193 thousand, $193 thousand, $269 thousand, $478 thousand, $593 thousand and $593 thousand, respectively, of intangible amortization resulting from payments made to exec uti ves under their change of control agreements. The resulting intangible assets are being amortized over 12 to 24 months.