SEC Filing | United Community Banks, Inc.

View:

Download DOC

Download PDF

Download XLS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):
October 26, 2016

United Community Banks, Inc.
(Exact name of registrant as specified in its charter)

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

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

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

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

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

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

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

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

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Item 2.02	Results of Operations and Financial Condition.

	On October 26, 2016, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended September 30, 2016 (the “News Release”). The News Release, including financial schedules, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In connection with issuing the News Release, on October 26, 2016 at 11:00 a.m. ET, the Registrant intends to hold a conference call/webcast to discuss the News Release. In addition to the News Release, during the conference call the Registrant intends to discuss certain financial information contained in the Third Quarter 2016 Investor Presentation (the “Investor Presentation”), which will be posted to the Registrant’s website at www.ucbi.com. The Investor Presentation is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

	The presentation of the Registrant’s financial results includes financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “operating net income,” “operating net income per diluted share,” “tangible book value,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk-weighted assets.” In addition, management has included the presentation of “pre-tax, pre-credit earnings”, which excludes the provision for credit losses, income taxes and merger-related charges. Management has included these non-GAAP measures because it believes they may provide useful supplemental information for evaluating the Registrant’s underlying performance trends. Further, management uses these measures in managing and evaluating the Registrant’s business and intends to refer to them in discussions about the Registrant’s operations and performance.

	Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included in the News Release and the Investor Presentation attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01	Financial Statements and Exhibits.

(d)	Exhibits

Exhibit No.		Description

99.1		News Release, dated October 26, 2016

99.2		Investor Presentation, Third Quarter 2016

SIGNATURES

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

	UNITED COMMUNITY BANKS, INC.

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

Date: October 26, 2016

Exhibit 99.1

For Immediate Release

For more information:

Rex S. Schuette

Chief Financial Officer

(706) 781-2266

Rex_Schuette@ucbi.com

UNITED COMMUNITY BANKS, INC.

ANNOUNCES THIRD QUARTER EARNINGS

Diluted earnings per share up 33 percent to 36 cents from third quarter 2015

Excluding merger-related charges, diluted operating EPS up 18 percent to 39 cents

Return on assets of 1.00 percent; 1.08 percent, excluding merger-related charges

Loan growth of $133 million from second quarter, or 8 percent annualized

Core transaction deposits up $254 million from second quarter, or 19 percent annualized

Fee revenue of $26.4 million, up $2.9 million from the second quarter

Efficiency ratio of 60.8 percent; 57.8 percent, excluding merger-related charges

BLAIRSVILLE, GA – October 26, 2016 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced continued momentum in the third quarter with strong fee revenue and loan growth, as well as sound credit quality and capital management. Net income grew to $25.9 million, or 36 cents per diluted share, compared with $17.9 million, or 27 cents per diluted share, for the third quarter of 2015. Net income for the first nine months of 2016 was $73.4 million, or $1.02 per diluted share. This compares with net income of $53.4 million, or 84 cents per diluted share, for the first nine months of 2015.

On an operating basis, net income rose to $27.8 million for the third quarter of 2016 compared with $21.7 million for the third quarter of 2015. Operating net income excludes pre-tax merger-related charges of $3.15 million in the third quarter of 2016 and $5.74 million in the third quarter of 2015. On a per diluted share basis, operating net income was 39 cents for the third quarter of 2016 compared with 33 cents for the third quarter of 2015. For the first nine months of 2016, operating net income was $77.8 million, or $1.08 per diluted share, compared with $59.3 million, or 94 cents per diluted share, for the first nine months of 2015.

At September 30, 2016, preliminary regulatory capital ratios were as follows: Tier 1 Risk-Based of 11.1 percent; Total Risk-Based of 11.9 percent; Common Equity Tier 1 Risk-Based of 11.1 percent; and, Tier 1 Leverage of 8.4 percent.

“Our third quarter results underscore the positive momentum from our investments in new businesses and markets,” said Jimmy Tallent, chairman and chief executive officer. “Our mortgage banking business continued to produce record quarterly results which, combined with strong performance from our SBA business and solid customer derivative sales, led to a 44 percent increase in fee revenue from a year ago.”

The third quarter’s return on assets was 1.00 percent including the effect of merger-related charges of $3.15 million. Exclusive of these charges, the operating return on assets for the third quarter was 1.08 percent.

Tallent noted the positive impact of the Tidelands Bancshares acquisition, which was completed on July 1, 2016. “As expected, the acquisition was immediately accretive to earnings per share,” he said. “Systems conversions are scheduled to take place in November, after which we expect to achieve the remaining targeted cost savings. The Tidelands acquisition is meeting or exceeding objectives consistent with our coastal South Carolina expansion strategy and I could not be more pleased with the results.

“Third quarter loan production was $641 million,” Tallent added. “Excluding acquired loans from Tidelands, linked-quarter growth of $133 million, or 8 percent annualized, was within our 2016 loan growth target of mid-to-upper single-digit. Our community banks originated $436 million in loans while specialized lending produced $166 million. United’s specialized lending area encompasses commercial real estate, middle market, SBA, builder finance and asset-based lending. Funding these loans was strong linked-quarter core transaction deposit growth of $254 million, or 19 percent annualized, excluding Tidelands. Core deposits comprise 90 percent of total deposits, which is one of the best ratios in the country.”

Third quarter net interest revenue totaled $79.0 million, up $4.1 million from the second quarter and up $13.6 million from the third quarter of 2015. The increase from both periods reflects growth in the loan portfolio as well as net interest revenue from recent acquisitions.

The taxable-equivalent net interest margin of 3.34 percent, while one basis point lower than the second quarter, was up eight basis points from the third quarter of 2015. The decrease from second quarter was expected and resulted mostly from loan pricing competition.

The third quarter provision for credit losses was a recovery of $300,000, equal to the second quarter of 2016. It was down from a provision charge of $700,000 in the third quarter of 2015. Strong recoveries of previously charged-off loans continued to contribute to the low level of net charge-offs. Third quarter net charge-offs totaled $1.4 million, compared with $1.7 million in the second quarter and $1.4 million in the third quarter of 2015. Nonperforming assets were .30 percent of total assets at September 30, 2016, compared with .28 percent at June 30, 2016 and ..29 percent at September 30, 2015.

“The recoveries of our provisions reflect continued strong credit quality and a low overall level of net charge-offs,” Tallent commented. “Our credit quality indicators are very favorable and our outlook is for positive credit quality in the fourth quarter and into 2017. This will result in low provision levels that we expect will gradually increase with loan growth through 2017, while slightly decreasing our allowance and the related ratio to total loans.”

Third quarter fee revenue totaled $26.4 million, an increase of $2.86 million from the second quarter and up $8.06 million from a year ago. Mortgage fees were up $1.59 million from the second quarter and $2.20 million from a year ago. Customer derivative fees also contributed to the increase in fee revenue from both prior periods. Gains from sales of SBA loans were up $833,000 from a year ago, but down $322,000 from the second quarter due to slightly lower premiums and loans sold.

“The increase in mortgage fees correlates to our strategic investment in additional mortgage lenders where we see opportunities to gain market share and higher spreads on loan sales,” Tallent said. “Although production of SBA loans remained high, $32 million of loans were sold in the third quarter compared to $33 million during the second quarter, but up from $17.8 million during the third quarter of 2015.”

Operating expenses were $64.0 million for the third quarter, compared with $58.1 million for the second quarter and $54.3 million for the third quarter of 2015. Included in operating expenses were merger-related charges of $3.15 million for the third quarter, $1.18 million for the second quarter and $5.74 million for the third quarter of 2015. Excluding these charges, third quarter operating expenses were $60.9 million compared with $56.9 million for the second quarter and $48.5 million a year ago. The increases from the second quarter and a year ago reflect additional operating expenses following the acquisitions of Tidelands Bank on July 1, 2016 and The Palmetto Bank on September 1, 2015. The operating expenses of the acquired companies are included in United’s financial results beginning on their respective acquisition dates.

Excluding merger-related charges of $3.15 million in the third quarter, operating expenses were $60.9 million and up $3.99 million from the second quarter. The inclusion of Tidelands’ $2.76 million of operating expense accounted for 70 percent of the linked-quarter increase in operating expenses. The balance of the increase was primarily due to higher salary costs for commissions and incentives related to truing-up the quarter and year-to-date for performance targets.

“Our bankers continue to perform exceptionally well as we build on the successes of investing to grow our franchise and earnings,” Tallent said. “We take tremendous pride that our bankers provide the best in customer service by treating customers the way we would want to be treated. This is at the foundation of our success and the core of everything we do. With strong earnings momentum and a high-quality balance sheet, I am optimistic about our future,” Tallent concluded.

Conference Call

United will hold a conference call today, Wednesday, October 26, 2016, at 11 a.m. ET to discuss the contents of this earnings release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 86742023. The conference call also will be webcast and available for replay for 30 days by selecting “Events & Presentations” within the Investor Relations section of United’s website at www.ucbi.com.

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a registered bank holding company based in Blairsville, Georgia, with $10.3 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the Southeast region’s largest full-service banks, operating 140 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in providing personalized community banking services to individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products, including mortgage, advisory, and treasury management. United Community Bank is consistently recognized for its outstanding customer service by respected national research firms. In 2014 and 2015, United Community Bank was ranked first in customer satisfaction in the southeast by J.D. Power and again in 2016 was ranked among the top 100 on the Forbes list of America’s Best Banks. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures

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

Safe Harbor

This News Release contains forward-looking statements, as defined by federal securities laws, including statements about United’s financial outlook and business environment. These statements are based on current expectations and are provided to assist in the understanding of future financial performance. Such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements. For a discussion of some of the risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to United’s filings with the Securities and Exchange Commission including its 2015 Annual Report on Form 10-K under the sections entitled “Forward-Looking Statements” and “Risk Factors.” Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements.

# # #

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Selected Financial Information

																Third			For the Nine
	2016									2015						Quarter			Months Ended						YTD
	Third			Second			First			Fourth			Third			2016-2015			September 30,						2016-2015
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2016			2015			Change
INCOME SUMMARY
Interest revenue	$	85,439		$	81,082		$	80,721		$	79,362		$	70,828					$	247,242		$	199,170
Interest expense		6,450			6,164			5,769			5,598			5,402						18,383			15,511
Net interest revenue		78,989			74,918			74,952			73,764			65,426			21	%		228,859			183,659			25	%
Provision for credit losses		(300	)		(300	)		(200	)		300			700						(800	)		3,400
Fee revenue		26,361			23,497			18,606			21,284			18,297			44			68,464			51,245			34
Total revenue		105,650			98,715			93,758			94,748			83,023			27			298,123			231,504			29
Expenses		64,023			58,060			57,885			65,488			54,269			18			179,968			145,750			23
Income before income tax expense		41,627			40,655			35,873			29,260			28,754			45			118,155			85,754			38
Income tax expense		15,753			15,389			13,578			11,052			10,867			45			44,720			32,384			38
Net income		25,874			25,266			22,295			18,208			17,887			45			73,435			53,370			38
Preferred dividends		-			-			21			25			25						21			42
Net income available to common shareholders	$	25,874		$	25,266		$	22,274		$	18,183		$	17,862			45		$	73,414		$	53,328			38
Merger-related and other charges		3,152			1,176			2,653			9,078			5,744						6,981			8,917
Income tax benefit of merger-related and other charges		(1,193	)		(445	)		(1,004	)		(3,486	)		(1,905	)					(2,642	)		(2,902	)
Net income available to common shareholders - operating ⁽¹⁾	$	27,833		$	25,997		$	23,923		$	23,775		$	21,701			28		$	77,753		$	59,343			31

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.36		$	.35		$	.31		$	.25		$	.27			33		$	1.02		$	.84			21
Diluted net income - operating ⁽¹⁾		.39			.36			.33			.33			.33			18			1.08			.94			15
Cash dividends declared		.08			.07			.07			.06			.06						.22			.16
Book value		15.12			14.80			14.35			14.02			13.95			8			15.12			13.95			8
Tangible book value ⁽³⁾		13.00			12.84			12.40			12.06			12.08			8			13.00			12.08			8

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		9.61	%		9.54	%		8.57	%		7.02	%		7.85	%					9.25	%		8.63	%
Return on common equity - operating ^(1)(2)(4)		10.34			9.81			9.20			9.18			9.54						9.79			9.60
Return on tangible common equity - operating ^(1)(2)(3)(4)		12.45			11.56			10.91			10.87			10.29						11.64			10.00
Return on assets - GAAP ⁽⁴⁾		1.00			1.04			.93			.76			.82						.99			.88
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.08			1.07			1.00			.99			1.00						1.05			.98
Dividend payout ratio - GAAP		22.22			20.00			22.58			24.00			22.22						21.57			19.05
Dividend payout ratio - operating ⁽¹⁾		20.51			19.44			21.21			18.18			18.18						20.37			17.02
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.34			3.35			3.41			3.34			3.26						3.36			3.29
Efficiency ratio - GAAP		60.78			59.02			61.94			68.97			64.65						60.56			61.94
Efficiency ratio - operating ⁽¹⁾		57.79			57.82			59.10			59.41			57.81						58.21			58.15
Average equity to average assets		10.38			10.72			10.72			10.68			10.39						10.60			10.11
Average tangible equity to average assets ⁽³⁾		8.98			9.43			9.41			9.40			9.88						9.27			9.88
Average tangible common equity to average assets ⁽³⁾		8.98			9.43			9.32			9.29			9.77						9.24			9.81
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		12.26			12.87			12.77			12.82			13.08						12.26			13.08

ASSET QUALITY
Nonperforming loans	$	21,572		$	21,348		$	22,419		$	22,653		$	20,064			8		$	21,572		$	20,064			8
Foreclosed properties		9,187			6,176			5,163			4,883			7,669			20			9,187			7,669			20
Total nonperforming assets (NPAs)		30,759			27,524			27,582			27,536			27,733			11			30,759			27,733			11
Allowance for loan losses		62,961			64,253			66,310			68,448			69,062			(9	)		62,961			69,062			(9	)
Net charge-offs		1,359			1,730			2,138			1,302			1,417			(4	)		5,227			4,957			5
Allowance for loan losses to loans		0.94	%		1.02	%		1.09	%		1.14	%		1.15	%					0.94	%		1.15	%
Net charge-offs to average loans ⁽⁴⁾		.08			.11			.14			.09			.10						.11			.13
NPAs to loans and foreclosed properties		.46			.44			.45			.46			.46						.46			.46
NPAs to total assets		.30			.28			.28			.29			.29						.30			.29

AVERAGE BALANCES ($ in millions)
Loans	$	6,675		$	6,151		$	6,004		$	5,975		$	5,457			22		$	6,278		$	5,069			24
Investment securities		2,610			2,747			2,718			2,607			2,396			9			2,692			2,288			18
Earning assets		9,443			9,037			8,876			8,792			8,009			18			9,120			7,511			21
Total assets		10,281			9,809			9,634			9,558			8,634			19			9,909			8,093			22
Deposits		8,307			7,897			7,947			8,028			7,135			16			8,051			6,727			20
Shareholders’ equity		1,067			1,051			1,033			1,021			897			19			1,051			818			28
Common shares - basic (thousands)		71,556			72,202			72,162			72,135			66,294			8			71,992			63,297			14
Common shares - diluted (thousands)		71,561			72,207			72,166			72,140			66,300			8			71,996			63,302			14

AT PERIOD END ($ in millions)
Loans	$	6,725		$	6,287		$	6,106		$	5,995		$	6,024			12		$	6,725		$	6,024			12
Investment securities		2,560			2,677			2,757			2,656			2,457			4			2,560			2,457			4
Total assets		10,298			9,928			9,781			9,616			9,404			10			10,298			9,404			10
Deposits		8,442			7,857			7,960			7,873			7,897			7			8,442			7,897			7
Shareholders’ equity		1,079			1,060			1,034			1,018			1,013			7			1,079			1,013			7
Common shares outstanding (thousands)		70,861			71,122			71,544			71,484			71,472			(1	)		70,861			71,472			(1	)

⁽¹⁾ Excludes merger-related charges and fourth quarter impairment losses on surplus bank property. ⁽²⁾ Net income available to common shareholders, which is net of preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). ⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization. ⁽⁴⁾ Annualized. ⁽⁵⁾ Third quarter 2016 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

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

Expense reconciliation
Expenses (GAAP)	$	64,023		$	58,060		$	57,885		$	65,488		$	54,269		$	179,968		$	145,750
Merger-related and other charges		(3,152	)		(1,176	)		(2,653	)		(9,078	)		(5,744	)		(6,981	)		(8,917	)
Expenses - operating	$	60,871		$	56,884		$	55,232		$	56,410		$	48,525		$	172,987		$	136,833

Net income reconciliation
Net income (GAAP)	$	25,874		$	25,266		$	22,295		$	18,208		$	17,887		$	73,435		$	53,370
Merger-related and other charges		3,152			1,176			2,653			9,078			5,744			6,981			8,917
Income tax benefit of merger-related and other charges		(1,193	)		(445	)		(1,004	)		(3,486	)		(1,905	)		(2,642	)		(2,902	)
Net income - operating	$	27,833		$	25,997		$	23,944		$	23,800		$	21,726		$	77,774		$	59,385

Net income available to common shareholders reconciliation
Net income available to common shareholders (GAAP)	$	25,874		$	25,266		$	22,274		$	18,183		$	17,862		$	73,414		$	53,328
Merger-related and other charges		3,152			1,176			2,653			9,078			5,744			6,981			8,917
Income tax benefit of merger-related and other charges		(1,193	)		(445	)		(1,004	)		(3,486	)		(1,905	)		(2,642	)		(2,902	)
Net income available to common shareholders - operating	$	27,833		$	25,997		$	23,923		$	23,775		$	21,701		$	77,753		$	59,343

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.36		$	.35		$	.31		$	.25		$	.27		$	1.02		$	.84
Merger-related and other charges		.03			.01			.02			.08			.06			-			.10
Diluted income per common share - operating	$	.39		$	.36		$	.33		$	.33		$	.33		$	1.02		$	.94

Book value per common share reconciliation
Book value per common share (GAAP)	$	15.12		$	14.80		$	14.35		$	14.02		$	13.95		$	15.12		$	13.95
Effect of goodwill and other intangibles		(2.12	)		(1.96	)		(1.95	)		(1.96	)		(1.87	)		(2.12	)		(1.87	)
Tangible book value per common share	$	13.00		$	12.84		$	12.40		$	12.06		$	12.08		$	13.00		$	12.08

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.61	%		9.54	%		8.57	%		7.02	%		7.85	%		9.25	%		8.63	%
Merger-related and other charges		.73			.27			.63			2.16			1.69			.54			.97
Return on common equity - operating		10.34			9.81			9.20			9.18			9.54			9.79			9.60
Effect of goodwill and other intangibles		2.11			1.75			1.71			1.69			.75			1.85			.40
Return on tangible common equity - operating		12.45	%		11.56	%		10.91	%		10.87	%		10.29	%		11.64	%		10.00	%

Return on assets reconciliation
Return on assets (GAAP)		1.00	%		1.04	%		.93	%		.76	%		.82	%		.99	%		.88	%
Merger-related and other charges		.08			.03			.07			.23			.18			.06			.10
Return on assets - operating		1.08	%		1.07	%		1.00	%		.99	%		1.00	%		1.05	%		.98	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		22.22	%		20.00	%		22.58	%		24.00	%		22.22	%		21.57	%		19.05	%
Merger-related and other charges		(1.71	)		(.56	)		(1.37	)		(5.82	)		(4.04	)		(1.20	)		(2.03	)
Dividend payout ratio - operating		20.51	%		19.44	%		21.21	%		18.18	%		18.18	%		20.37	%		17.02	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		60.78	%		59.02	%		61.94	%		68.97	%		64.65	%		60.56	%		61.94	%
Merger-related and other charges		(2.99	)		(1.20	)		(2.84	)		(9.56	)		(6.84	)		(2.35	)		(3.79	)
Efficiency ratio – operating		57.79	%		57.82	%		59.10	%		59.41	%		57.81	%		58.21	%		58.15	%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.38	%		10.72	%		10.72	%		10.68	%		10.39	%		10.60	%		10.11	%
Effect of goodwill and other intangibles		(1.40	)		(1.29	)		(1.31	)		(1.28	)		(.51	)		(1.33	)		(.23	)
Tangible equity to assets		8.98			9.43			9.41			9.40			9.88			9.27			9.88
Effect of preferred equity		-			-			(.09	)		(.11	)		(.11	)		(.03	)		(.07	)
Tangible common equity to assets		8.98	%		9.43	%		9.32	%		9.29	%		9.77	%		9.24	%		9.81	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		11.08	%		11.44	%		11.32	%		11.45	%		11.40	%		11.08	%		11.40	%
Effect of other comprehensive income		-			(.06	)		(.25	)		(.38	)		(.23	)		-			(.23	)
Effect of deferred tax limitation		1.50			1.63			1.85			2.05			2.24			1.50			2.24
Effect of trust preferred		(.26	)		(.08	)		(.08	)		(.08	)		(.08	)		(.26	)		(.08	)
Effect of preferred equity		-			-			-			(.15	)		(.15	)		-			(.15	)
Basel III intangibles transition adjustment		(.06	)		(.06	)		(.07	)		(.10	)		(.13	)		(.06	)		(.13	)
Basel III disallowed investments		-			-			-			.03			.03			-			.03
Tangible common equity to risk-weighted assets		12.26	%		12.87	%		12.77	%		12.82	%		13.08	%		12.26	%		13.08	%

⁽¹⁾ Third quarter 2016 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2016						2015				Linked			Year over
	Third		Second		First		Fourth		Third		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,512	$	1,450	$	1,434	$	1,494	$	1,479	$	62		$	33
Income producing commercial RE		1,105		919		880		824		818		186			287
Commercial & industrial		994		926		855		785		890		68			104
Commercial construction		389		384		354		342		319		5			70
Total commercial		4,000		3,679		3,523		3,445		3,506		321			494
Residential mortgage		1,056		1,035		1,032		1,029		1,062		21			(6	)
Home equity lines of credit		698		623		604		598		585		75			113
Residential construction		378		351		348		352		334		27			44
Consumer installment		593		599		599		571		537		(6	)		56
Total loans	$	6,725	$	6,287	$	6,106	$	5,995	$	6,024		438			701

LOANS BY MARKET
North Georgia	$	1,110	$	1,097	$	1,097	$	1,125	$	1,130		13			(20	)
Atlanta MSA		1,332		1,314		1,257		1,259		1,266		18			66
North Carolina		548		543		543		549		546		5			2
Coastal Georgia		565		541		543		537		506		24			59
Gainesville MSA		236		240		248		254		252		(4	)		(16	)
East Tennessee		506		509		495		504		511		(3	)		(5	)
South Carolina		1,199		862		821		819		783		337			416
Specialized Lending		763		706		628		492		609		57			154
Indirect auto		466		475		474		456		421		(9	)		45
Total loans	$	6,725	$	6,287	$	6,106	$	5,995	$	6,024		438			701

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	Third Quarter 2016									Second Quarter 2016									First Quarter 2016
	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	$	6,454		$	3,188		$	9,642		$	6,681		$	3,096		$	9,777		$	6,775		$	2,864		$	9,639
Income producing CRE		949			765			1,714			1,017			1,554			2,571			2,959			-			2,959
Commercial & industrial		1,079			-			1,079			949			-			949			978			-			978
Commercial construction		98			1,274			1,372			199			-			199			266			152			418
Total commercial		8,580			5,227			13,807			8,846			4,650			13,496			10,978			3,016			13,994
Residential mortgage		8,152			1,211			9,363			8,667			1,160			9,827			8,037			1,587			9,624
Home equity lines of credit		1,194			514			1,708			1,308			83			1,391			1,198			125			1,323
Residential construction		2,248			2,235			4,483			1,578			283			1,861			1,122			435			1,557
Consumer installment		1,398			-			1,398			949			-			949			1,084			-			1,084
Total NPAs	$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582

NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,356		$	653		$	6,009		$	6,219		$	1,086		$	7,305		$	5,353		$	1,233		$	6,586
Atlanta MSA		979			1,530			2,509			1,140			2,041			3,181			2,796			902			3,698
North Carolina		5,216			543			5,759			4,762			224			4,986			4,860			559			5,419
Coastal Georgia		1,606			47			1,653			1,186			168			1,354			1,696			121			1,817
Gainesville MSA		222			-			222			234			-			234			250			-			250
East Tennessee		3,281			160			3,441			3,616			247			3,863			3,470			351			3,821
South Carolina		2,015			6,254			8,269			1,271			2,410			3,681			935			1,997			2,932
Specialized Lending		1,597			-			1,597			2,108			-			2,108			2,186			-			2,186
Indirect auto		1,300			-			1,300			812			-			812			873			-			873
Total NPAs	$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582


NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582		$	22,653		$	4,883		$	27,536
Acquisitions		-			7,495			7,495			-			(497	)		(497	)		-			-			-
Loans placed on non-accrual		6,680			-			6,680			6,786			-			6,786			4,771			-			4,771
Payments received		(3,938	)		-			(3,938	)		(4,201	)		-			(4,201	)		(1,812	)		-			(1,812	)
Loan charge-offs		(1,236	)		-			(1,236	)		(1,803	)		-			(1,803	)		(1,679	)		-			(1,679	)
Foreclosures		(1,282	)		2,335			1,053			(1,853	)		2,722			869			(1,514	)		1,590			76
Capitalized costs		-			3			3			-			98			98			-			-			-
Property sales		-			(6,553	)		(6,553	)		-			(1,424	)		(1,424	)		-			(1,524	)		(1,524	)
Write downs		-			(53	)		(53	)		-			(73	)		(73	)		-			(7	)		(7	)
Net gains (losses) on sales		-			(216	)		(216	)		-			187			187			-			221			221
Ending Balance	$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582

	Third Quarter 2016						Second Quarter 2016						First Quarter 2016
				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	$	168			.04	%	$	564			.16	%	$	304			.08	%
Income producing CRE		157			.06			(23	)		(.01	)		211			.10
Commercial & industrial		453			.18			(392	)		(.18	)		283			.14
Commercial construction		(86	)		(.09	)		22			.02			286			.33
Total commercial		692			.07			171			.02			1,084			.13
Residential mortgage		(256	)		(.09	)		829			.32			50			.02
Home equity lines of credit		267			.16			253			.17			632			.43
Residential construction		134			.14			(8	)		(.01	)		(103	)		(.12	)
Consumer installment		522			.34			485			.33			475			.33
Total	$	1,359			.08		$	1,730			.11		$	2,138			.14

NET CHARGE-OFFS BY MARKET
North Georgia	$	68			.02	%	$	428			.16	%	$	913			.33	%
Atlanta MSA		398			.12			1			-			(25	)		(.01	)
North Carolina		329			.24			575			.43			382			.28
Coastal Georgia		432			.31			177			.13			196			.15
Gainesville MSA		15			.03			(87	)		(.14	)		98			.16
East Tennessee		(69	)		(.05	)		346			.28			378			.31
South Carolina		(66	)		(.02	)		49			.02			(16	)		(.01	)
Specialized Lending		69			.04			(18	)		(.01	)		4			-
Indirect auto		183			.15			259			.22			208			.19
Total	$	1,359			.08		$	1,730			.11		$	2,138			.14

⁽¹⁾ Annualized.

UNITED COMMUNITY BANKS, INC.

Consolidated Statement of Income (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands, except per share data)	2016			2015			2016			2015

Interest revenue:
Loans, including fees	$	69,440		$	57,174		$	196,888		$	159,814
Investment securities, including tax exempt of $134, $177, $449 and $516		15,418			12,801			48,039			36,896
Deposits in banks and short-term investments		581			853			2,315			2,460
Total interest revenue		85,439			70,828			247,242			199,170

Interest expense:
Deposits:
NOW		452			337			1,381			1,079
Money market		1,347			981			3,661			2,460
Savings		43			25			102			71
Time		667			830			2,052			2,834
Total deposit interest expense		2,509			2,173			7,196			6,444
Short-term borrowings		98			99			278			279
Federal Home Loan Bank advances		1,015			461			2,731			1,307
Long-term debt		2,828			2,669			8,178			7,481
Total interest expense		6,450			5,402			18,383			15,511
Net interest revenue		78,989			65,426			228,859			183,659
Provision for credit losses		(300	)		700			(800	)		3,400
Net interest revenue after provision for credit losses		79,289			64,726			229,659			180,259

Fee revenue:
Service charges and fees		10,819			9,335			31,460			25,325
Mortgage loan and other related fees		6,039			3,840			13,776			10,302
Brokerage fees		1,199			1,200			3,369			3,983
Gains from sales of government guaranteed loans		2,479			1,646			6,517			4,281
Securities gains, net		261			325			922			1,877
Loss from prepayment of debt		-			(256	)		-			(1,294	)
Other		5,564			2,207			12,420			6,771
Total fee revenue		26,361			18,297			68,464			51,245
Total revenue		105,650			83,023			298,123			231,504

Operating expenses:
Salaries and employee benefits		36,478			29,342			103,112			83,749
Communications and equipment		4,919			3,963			13,602			10,538
Occupancy		5,132			4,013			14,393			10,706
Advertising and public relations		1,088			812			3,275			2,689
Postage, printing and supplies		1,451			1,049			4,029			2,980
Professional fees		3,160			2,668			9,049			6,844
FDIC assessments and other regulatory charges		1,412			1,136			4,453			3,643
Amortization of intangibles		1,119			714			3,116			1,403
Merger-related and other charges		3,152			5,744			6,981			8,917
Other		6,112			4,828			17,958			14,281
Total operating expenses		64,023			54,269			179,968			145,750
Net income before income taxes		41,627			28,754			118,155			85,754
Income tax expense		15,753			10,867			44,720			32,384
Net income		25,874			17,887			73,435			53,370
Preferred stock dividends and discount accretion		-			25			21			42
Net income available to common shareholders	$	25,874		$	17,862		$	73,414		$	53,328

Earnings per common share:
Basic	$	.36		$	.27		$	1.02		$	.84
Diluted		.36			.27			1.02			.84
Weighted average common shares outstanding:
Basic		71,556			66,294			71,992			63,297
Diluted		71,561			66,300			71,996			63,302

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheet (Unaudited)

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

ASSETS
Cash and due from banks	$	94,744		$	86,912
Interest-bearing deposits in banks		131,415			153,451
Cash and cash equivalents		226,159			240,363
Securities available for sale		2,215,113			2,291,511
Securities held to maturity (fair value $357,550 and $371,658)		344,917			364,696
Mortgage loans held for sale (includes $279 and $0 at fair value)		30,814			24,231
Loans, net of unearned income		6,725,110			5,995,441
Less allowance for loan losses		(62,961	)		(68,448	)
Loans, net		6,662,149			5,926,993
Premises and equipment, net		189,302			178,165
Bank owned life insurance		123,129			105,493
Accrued interest receivable		26,494			25,786
Net deferred tax asset		156,408			197,613
Derivative financial instruments		25,463			20,082
Goodwill and other intangible assets		157,288			147,420
Other assets		140,379			94,075
Total assets	$	10,297,615		$	9,616,428
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,568,756		$	2,204,755
NOW		1,821,353			1,975,884
Money market		1,798,548			1,599,637
Savings		544,029			471,129
Time		1,349,543			1,282,803
Brokered		359,370			338,985
Total deposits		8,441,599			7,873,193
Short-term borrowings		35,050			16,640
Federal Home Loan Bank advances		449,407			430,125
Long-term debt		174,959			163,836
Derivative financial instruments		32,548			28,825
Accrued expenses and other liabilities		84,759			85,524
Total liabilities		9,218,322			8,598,143
Shareholders' equity:
Preferred stock, $1 par value; 10,000,000 shares authorized; Series H; $1,000 stated value; 0 and 9,992 shares issued and outstanding		-			9,992
Common stock, $1 par value; 150,000,000 shares authorized; 70,861,025 and 66,198,477 shares issued and outstanding		70,861			66,198
Common stock, non-voting, $1 par value; 26,000,000 shares authorized; 0 and 5,285,516 shares issued and outstanding		-			5,286
Common stock issuable; 520,014 and 458,953 shares		7,179			6,779
Capital surplus		1,274,909			1,286,361
Accumulated deficit		(273,314	)		(330,879	)
Accumulated other comprehensive loss		(342	)		(25,452	)
Total shareholders' equity		1,079,293			1,018,285
Total liabilities and shareholders' equity	$	10,297,615		$	9,616,428

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended September 30,

	2016									2015
	Average						Avg.			Average						Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest			Rate			Balance			Interest			Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) ⁽¹⁾⁽²⁾	$	6,675,328		$	69,427			4.14	%	$	5,457,158		$	57,258			4.16	%
Taxable securities ⁽³⁾		2,588,037			15,284			2.36			2,367,417			12,624			2.13
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		22,113			219			3.96			28,889			290			4.02
Federal funds sold and other interest-earning assets		157,972			754			1.91			155,957			948			2.43

Total interest-earning assets (FTE)		9,443,450			85,684			3.61			8,009,421			71,120			3.53
Non-interest-earning assets:
Allowance for loan losses		(63,874	)								(71,090	)
Cash and due from banks		100,775									80,678
Premises and equipment		198,234									179,463
Other assets ⁽³⁾		602,690									435,060
Total assets	$	10,281,275								$	8,633,532

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,744,473			452			.10		$	1,491,801			337			.09
Money market		1,997,165			1,347			.27			1,737,740			981			.22
Savings		537,447			43			.03			386,254			25			.03
Time		1,375,706			833			.24			1,277,829			1,155			.36
Brokered time deposits		162,255			(166	)		(.41	)		268,716			(325	)		(.48	)
Total interest-bearing deposits		5,817,046			2,509			.17			5,162,340			2,173			.17

Federal funds purchased and other borrowings		42,234			98			.92			72,909			99			.54
Federal Home Loan Bank advances		583,312			1,015			.69			281,429			461			.65
Long-term debt		177,333			2,828			6.34			152,105			2,669			6.96
Total borrowed funds		802,879			3,941			1.95			506,443			3,229			2.53

Total interest-bearing liabilities		6,619,925			6,450			.39			5,668,783			5,402			.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,490,019									1,972,291
Other liabilities		103,859									95,342
Total liabilities		9,213,803									7,736,416
Shareholders' equity		1,067,472									897,116
Total liabilities and shareholders' equity	$	10,281,275								$	8,633,532

Net interest revenue (FTE)				$	79,234								$	65,718
Net interest-rate spread (FTE)								3.22	%								3.15	%

Net interest margin (FTE) ⁽⁴⁾								3.34	%								3.26	%

⁽¹⁾

Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate used was 39%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

⁽²⁾

Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾

Securities available for sale are shown at amortized cost. Pretax unrealized gains of $30.4 million in 2016 and $8.56 million in 2015 are included in other assets for purposes of this presentation.

⁽⁴⁾

Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Nine Months Ended September 30,

	2016									2015
	Average						Avg.			Average						Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest			Rate			Balance			Interest			Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) ⁽¹⁾⁽²⁾	$	6,277,972		$	196,956			4.19	%	$	5,069,270		$	160,204			4.23	%
Taxable securities ⁽³⁾		2,665,272			47,590			2.38			2,263,907			36,380			2.14
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		26,415			735			3.71			23,649			845			4.76
Federal funds sold and other interest-earning assets		150,146			2,719			2.41			154,392			2,734			2.36

Total interest-earning assets (FTE)		9,119,805			248,000			3.63			7,511,218			200,163			3.56
Non-interest-earning assets:
Allowance for loan losses		(66,142	)								(71,425	)
Cash and due from banks		93,802									78,948
Premises and equipment		187,019									169,037
Other assets ⁽³⁾		574,870									405,101
Total assets	$	9,909,354								$	8,092,879

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,795,372			1,381			.10		$	1,462,344			1,079			.10
Money market		1,901,903			3,661			.26			1,605,098			2,460			.20
Savings		505,337			102			.03			340,878			71			.03
Time		1,280,503			2,325			.24			1,253,047			3,816			.41
Brokered time deposits		194,199			(273	)		(.19	)		272,688			(982	)		(.48	)
Total interest-bearing deposits		5,677,314			7,196			.17			4,934,055			6,444			.17

Federal funds purchased and other borrowings		29,427			278			1.26			52,385			279			.71
Federal Home Loan Bank advances		506,524			2,731			.72			270,260			1,307			.65
Long-term debt		168,955			8,178			6.47			131,338			7,481			7.62
Total borrowed funds		704,906			11,187			2.12			453,983			9,067			2.67

Total interest-bearing liabilities		6,382,220			18,383			.38			5,388,038			15,511			.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,374,076									1,793,181
Other liabilities		102,421									93,218
Total liabilities		8,858,717									7,274,437
Shareholders' equity		1,050,637									818,442
Total liabilities and shareholders' equity	$	9,909,354								$	8,092,879

Net interest revenue (FTE)				$	229,617								$	184,652
Net interest-rate spread (FTE)								3.25	%								3.18	%

Net interest margin (FTE) ⁽⁴⁾								3.36	%								3.29	%

⁽¹⁾

⁽²⁾

Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾

Securities available for sale are shown at amortized cost. Pretax unrealized gains of $15.1 million in 2016 and $12.7 million in 2015 are included in other assets for purposes of this presentation.

⁽⁴⁾

Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

Exhibit 99.2

ucbi.com | 1 INVESTOR PRESENTATION Third Quarter 2016 October 26, 2016

ucbi.com | 2 ucbi.com | 2 Disclosures “operating net income per diluted share,” “tangible book value,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk - weighted assets . ” The most comparable GAAP measures to these measures are : net income, net income available to common shareholders, diluted income per common share, ROE, ROA, efficiency ratio, dividend payout ratio, expenses, net income, and equity to assets . Management 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 . For a reconciliation of the differences between our non - GAAP financial measures and the most comparable GAAP measures, please refer to the ‘Non - GAAP Reconcilement Tables’ included in the exhibits to this presentation . CAUTIONARY STATEMENT This investor presentation may contain forward - looking statements, as defined by federal securities laws, including statements about United 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 2015 Annual Report on Form 10 - K and its most recent quarterly report on Form 10 - Q under the sections entitled “Forward - Looking Statements . ” Forward - looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward - looking statements . NON - GAAP MEASURES This presentation 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 as “operating net income,”

ucbi.com | 3 • Head quartered in Blairsville, GA • Regional Headquarters in Greenville, SC • Four state regional community bank: GA, NC, SC and TN • One of the largest community banks in the Southeast • Established in 1950 • 140 locations • 1,986 employees Market Data Ticker UCBI Price (as of 10/21/16) $20.99 Market Cap $1.5B P/E (2016e) 14.6 P/TBV 163% Avg. Daily Vol. (LTM) 497,000 Institutional Ownership 87.3% Quarterly Dividend (3Q16) $0.08 Third Quarter 2016 Assets $10.3B Loans $6.7B Deposits $8.4B EPS – GAAP $0.36 EPS – Operating $0.39 Total RBC 11.9% CET1 11.1% NPAs/Assets 0.30% ROA – GAAP 1.00% ROA – Operating 1.08% ROCE – GAAP 9.61% ROTCE – Operating 12.45% ucbi.com | 3 Snapshot of United Community Banks, Inc.

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

ucbi.com | 5 Third Quarter 2016 Highlights ucbi.com | 5 $18.3 $21.3 $18.6 $23.5 $26.4 $12 $16 $20 $24 $28 3Q15 4Q15 1Q16 2Q16 3Q16 Fee Revenue in millions 7.85% 7.02% 8.57% 9.54% 9.61% 10.29% 10.87% 10.91% 11.56% 12.45% 6.00% 8.00% 10.00% 12.00% 14.00% 3Q15 4Q15 1Q16 2Q16 3Q16 Return on (Tangible) Common Equity ROCE - GAAP ROTCE - Operating (1) $65.4 $73.8 $75.0 $74.9 $79.0 $60 $65 $70 $75 $80 3Q15 4Q15 1Q16 2Q16 3Q16 Net Interest Revenue in millions $0.27 $0.25 $0.31 $0.35 $0.36 $0.33 $0.33 $0.33 $0.36 $0.39 $0.24 $0.28 $0.32 $0.36 $0.40 3Q15 4Q15 1Q16 2Q16 3Q16 Earnings Per Share GAAP Operating (1) .82% .76% .93% 1.04% 1.00% 1.00% .99% 1.00% 1.07% 1.08% 0.75% 0.85% 0.95% 1.05% 1.15% 3Q15 4Q15 1Q16 2Q16 3Q16 Return on Assets GAAP Operating (1) 3.26% 3.34% 3.41% 3.35% 3.34% 3.25% 3.30% 3.35% 3.40% 3.45% 3Q15 4Q15 1Q16 2Q16 3Q16 Net Interest Margin (fully taxable equivalent) 1.15% 1.14% 1.09% 1.02% 0.94% 0.80% 0.90% 1.00% 1.10% 1.20% 3Q15 4Q15 1Q16 2Q16 3Q16 Allowance as % of Total Loans 0.29% 0.29% 0.28% 0.28% 0.30% 0.10% 0.20% 0.30% 0.40% 0.50% 3Q15 4Q15 1Q16 2Q16 3Q16 Non - Performing Assets as % of Total Assets 0.10% 0.09% 0.14% 0.11% 0.08% 0.00% 0.10% 0.20% 0.30% 0.40% 3Q15 4Q15 1Q16 2Q16 3Q16 Net Charge - Offs as % of Average Loans EARNINGS PROFITABILITY ASSET QUALITY (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures

ucbi.com | 6 (1) See non - GAAP reconciliation table slides at the end of the exhibits (2) Includes Palmetto as of the acquisition date of September 1, 2015 (3) Includes Tidelands as of the acquisition date of July 1, 2016 ucbi.com | 6 Third Quarter 2016 Highlights EARNINGS SUMMARY ($ in thousands) Net Income - GAAP 17,862$ 18,183$ 22,274$ 25,266$ 25,874$ 608$ 8,012$ Net Income - Operating (1) 21,726 23,800 23,944 25,997 27,833 1,836 6,107 Net Interest Revenue 65,426 73,764 74,952 74,918 78,989 4,071 13,563 Fee Revenue 18,297 21,284 18,606 23,497 26,361 2,864 8,064 Expenses - GAAP 54,269 65,488 57,885 58,060 64,023 5,963 9,754 Expenses - Operating (1) 48,525 56,410 55,232 56,884 60,871 3,987 12,346 PER SHARE DATA Diluted EPS - GAAP 0.27$ 0.25$ 0.31$ 0.35$ 0.36$ 0.01$ 0.09$ Diluted EPS - Operating (1) 0.33 0.33 0.33 0.36 0.39 0.03 0.06 Book Value per Share 13.95 14.02 14.35 14.80 15.12 0.32 1.17 Tangible Book Value per Share 12.08 12.06 12.40 12.84 13.00 0.16 0.92 KEY OPERATING PERFORMANCE MEASURES Return on Assets - GAAP 0.82 % 0.76 % 0.93 % 1.04 % 1.00 % (0.04) % 0.18 % Return on Assets - Operating (1) 1.00 0.99 1.00 1.07 1.08 0.01 0.08 Return on Common Equity - GAAP 7.85 7.02 8.57 9.54 9.61 0.07 1.76 Return on Tangible Common Equity - Operating (1) 10.29 10.87 10.91 11.56 12.45 0.89 2.16 Net Interest Margin (fully taxable equivalent) 3.26 3.34 3.41 3.35 3.34 (0.01) 0.08 Efficiency Ratio - GAAP 64.65 68.97 61.94 59.02 60.78 1.76 (3.87) Efficiency Ratio - Operating (1) 57.81 59.41 59.10 57.82 57.79 (0.03) (0.02) ASSET QUALITY Allowance for Loan Losses to Loans 1.15 % 1.14 % 1.09 % 1.02 % 0.94 % (0.08) % (0.21) % NPAs to Loans and Foreclosed Properties 0.46 0.46 0.45 0.44 0.46 0.02 - NPAs to Total Assets 0.29 0.29 0.28 0.28 0.30 0.02 0.01 AT PERIOD END ($ in millions) Loans 6,024$ 5,995$ 6,106$ 6,287$ 6,725$ 438$ 701$ Investment Securities 2,457 2,656 2,757 2,677 2,560 (117) 103 Total Assets 9,404 9,616 9,781 9,928 10,298 370 894 Deposits 7,905 7,881 7,960 7,857 8,442 585 537 3Q 2015 2Q (2) 4Q 1Q 3Q (3) 2016 2Q16 3Q15 Variance - Incr / (Decr)

ucbi.com | 7 Third Quarter 2016 Highlights ucbi.com | 7 (in millions) 3Q16 2Q16 3Q15 Net Income ($ in millions) GAAP $ 25.9 $ 25.3 $ 17.9 Operating (1) 27.8 26.0 21.7 EPS GAAP .36 .35 .27 Operating (1) .39 .36 .33 ROA GAAP 1.00 1.04 0.82 Operating (1) 1.08 1.07 1.00 ROCE GAAP 9.61 9.54 7.85 ROTCE Operating (1) 12.45 11.56 10.29 Protecting High - Quality Balance Sheet (1) Asset Quality ► Top - Quartile Credit Quality Performance ● Provision recovery of $300 thousand compared with a recovery of $300 thousand in 2Q16 and provision of $700 thousand in 3Q15 ● Net charge - offs to loans of 0.08% - decreased 3bp from 2Q16 and 2bp from 3Q15 ● NPAs were 0.30% of total assets compared with 0.28% in 2Q16 and 0.29% in 3Q15 ● Allowance 0.94% of total loans compared with 1.02% at 2Q16 and 1.15% at 3Q15 Capital Management ► Solid and Well - Capitalized Regulatory Capital Ratios ● Tier I Common to Risk Weighted Assets of 11.4% and Tier I Leverage of 8.4% ● Tier I Risk Based Capital of 11.1% and Total Risk Based Capital of 11.9% ► Committed to Returning Value to Shareholders While Balancing Reinvestment in United ● Quarterly dividend of $0.08 in 3Q16 and $0.07 per share in each 2Q16 and 1Q16 compared with $0.06 in each 4Q15 and 3Q15 ● Dividend payout ratio of 22.2% in 3Q16 compared with 20.0% in 2Q16 and 22.2% in 3Q15; on an operating basis, the dividend payout ratio was 20.5%, 19.4% and 18.2%, respectively ● Stock repurchases to - date of $13.6 million (764,000 shares / average price of $17.85 per share) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures % % %

ucbi.com | 8 Third Quarter 2016 Highlights ucbi.com | 8 Increasing Profitability Net Interest Revenue ► $79.0 Million – Increased 5% from 2Q16 and 21% from 3Q15 ● Increased $4.1 million from 2Q16 and $13.6 million from 3Q15 ● Average loans increased to $6.68 million in 3Q16 from $6.15 billion in 2Q16 and $5.46 billion in 3Q15 ● Average investment securities decreased to $2.61 billion in 3Q16 from $2.75 billion in 2Q16 and increased from $2.40 billion in 3Q15 Taxable Equivalent Net Interest Margin ► 3.34% - Decreased 1bp from 2Q16 and increased 8bp from 3Q15 ● Loan yield decreased to 4.14% in 3Q16 from 4.15% in 2Q16 and 4.16% in 3Q15 o Decline due to pricing pressures and higher mix of floating - rate loans ● Investment securities yield decreased to 2.38% in 3Q16 from 2.46% in 2Q16 and increased from 2.16% in 3Q15 ● Funding costs were 0.39% in both 3Q16 and 2Q16, a 1 bp increase from 3Q15 Fee Revenue ► $26.4 Million – Fee Revenue Expansion Focus Through Targeted Growth Initiatives ● Increased $2.9 million from 2Q16 and $8.1 million from 3Q15 ● Linked quarter growth in mortgage loan and related fees of $1.6 million and other fee revenue of $1.2 million ● Gains from sales of SBA government guaranteed loans of $2.5 million were down slightly from 2Q16 gains of $2.8 million ● Year - over - year increases also impacted by acquisitions with growth in service charges and fees of $1.5 million, mortgage loan and other related fees of $2.2 million, gains from sales of SBA loans of $833 thousand and other fee revenue of $3.4 million

ucbi.com | 9 Third Quarter 2016 Highlights ucbi.com | 9 Generating Growth Loan Growth ► Well - Diversified Loan Portfolio ● Increased $133 million from 2Q16, or 8% annualized (excluding mergers ) and $586 million from 3Q15, or 10% ( excluding mergers and healthcare portfolio loan sale) ● Strong loan production of $641 million vs. $662 million in 2Q16 and $452 million in 3Q15 Core Transactio n Deposits ► $5.9 Billion – Solid Low - Cost Core Transaction Deposits ● Increased $254 million from 2Q16, or 19% annualized, and $431 million from 3Q15, or 8%, excluding deposits acquired in mergers Acquisitions ► 2016 - Tidelands Bancshares, Inc. ● Closed merger with Tidelands Bancshares, Inc., headquartered in Mt. Pleasant, South Carolina, on July 1, 2016 ● Added seven branches to our Coastal, South Carolina footprint ● System conversion scheduled for November 2016 ● Strategic purchase completes a two - step plan, accelerating growth in attractive coastal South Carolina markets, providing additional organic growth from the lift - out of an experienced lending team and will be immediately accretive to operating earnings

ucbi.com | 10 100 107 108 110 90 95 100 105 110 1Q16 Actual 2Q16 Actual 3Q16 Actual 4Q16 Target 4Q16 Execute Strategies x Fee Revenue Initiatives x Loan Growth x Operating Efficiency Initiatives ucbi.com | 10 Return on Assets - Operating (bps) Path to 1.10% ROA (Operating) by Q416

ucbi.com | 11 Protecting High - Quality Balance Sheet Credit Quality Net Charge-offs 1.4$ 1.3$ 2.1$ 1.7$ 1.4$ as % of Average Loans 0.10 % 0.09 % 0.14 % 0.11 % 0.08 % Allowance for Loan Losses 69.1$ 68.4$ 66.3$ 64.3$ 63.0$ as % of Total Loans 1.15 % 1.14 % 1.09 % 1.02 % 0.94 % as % of NPLs 344 302 296 301 292 Past Due Loans (30 - 89 Days) 0.27 % 0.26 % 0.21 % 0.22 % 0.33 % Non-Performing Loans 20.0$ 22.6$ 22.4$ 21.3$ 21.6$ OREO 7.7 4.9 5.2 6.2 9.2 Total NPAs 27.7 27.5 27.6 27.5 30.8 Performing Classified Loans 136.0 127.5 121.1 118.5 121.6 Total Classified Assets 163.7$ 155.0$ 148.7$ 146.0$ 152.4$ as % of Tier 1 / Allowance 18 % 17 % 16 % 15 % 15 % Accruing TDRs 84.6$ 83.0$ 72.8$ 73.3$ 70.1$ Total NPAs as % of Total Assets 0.29 0.29 0.28 0.28 0.30 as % of Loans & OREO 0.46 0.46 0.45 0.44 0.46 3Q15 4Q15 1Q16 2Q16 3Q16 $ in millions ucbi.com | 11

ucbi.com | 12 Protecting High - Quality Balance Sheet Prudent Capital Management ucbi.com | 12 Holding Company 3Q16 2Q16 1Q16 4Q15 3Q15 Tier I Risk - Based Capital 11.1% 11.4% 11.3% 11.5% 11.4% Total Risk - Based Capital 11.9 12.4 12.3 12.5 12.5 Leverage 8.4 8.5 8.4 8.3 9.1 Tier I Common Risk - Based Capital 11.1 11.4 11.3 11.5 11.4 Tangible Common Equity to Risk - Weighted Assets 12.3 12.9 12.8 12.8 13.1 Average Tangible Equity to Average Assets 9.0 9.4 9.4 9.4 9.9 ► All regulatory capital ratios above “well - capitalized” ► Stock repurchases of $13.6 million through September 30, 2016 (764,000 shares / average price of $17.85 per share) ► Paid quarterly shareholder dividend of $0.08 per share on October 5, 2016 to shareholders of record on September 15, 2016 ► Tidelands acquisition completed on July 1, 2016. No shares issued ► Palmetto acquisition lowered Leverage ratio in 4Q15 (full quarter impact of average assets) ► Continued strong earnings and $113 million of future DTA recovery driving regulatory capital growth

ucbi.com | 13 $65.4 $73.8 $75.0 $74.9 $79.0 $48.5 $56.4 $55.2 $56.9 $60.9 $35.2 $38.6 $38.3 $41.5 $44.5 $18.3 $21.3 $18.6 $23.5 $26.4 $10 $20 $30 $40 $50 $60 $70 $80 $90 3Q15 4Q15 1Q16 2Q16 3Q16 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue Increasing Profitability Earnings, Fee Revenue, and Expenses ucbi.com | 13 3Q16 2Q16 3Q15 Salaries & Employee Benefits 36,478$ 2,906$ 7,136$ Communications & Equipment 4,919 526 956 Occupancy 5,132 594 1,119 FDIC Assessment 1,412 (105) 276 Advertising & Public Relations 1,088 (235) 276 Postage, Printing & Supplies 1,451 153 402 Professional Fees 3,160 (29) 492 Other Expense 7,231 177 1,689 Expenses - Operating (1) 60,871 3,987 12,346 Merger-Related and Other Charges 3,152 1,976 (2,592) Expenses - GAAP 64,023$ 5,963$ 9,754$ Variance - Incr/(Decr) 3Q16 2Q16 3Q15 Overdraft Fees 3,648$ 351$ 345$ Interchange Fees 5,283 (50) 919 Other Service Charges 1,888 3 220 Total Service Charges and Fees 10,819 304 1,484 Mortgage Loan & Related Fees 6,039 1,591 2,199 Brokerage Fees 1,199 82 (1) Gains from SBA Loan Sales 2,479 (322) 833 Securities Gains, Net 261 (21) 192 Other 5,564 1,230 3,357 Fee Revenue 26,361$ 2,864$ 8,064$ Variance - Incr/(Decr) 3Q16 2Q16 3Q15 Net Interest Revenue 78,989$ 4,071$ 13,563$ Fee Revenue 26,361 2,864 8,064 Gross Revenue 105,350 6,935 21,627 Expenses - Operating (1) 60,871 3,987 12,346 Pre-Tax, Pre-Credit Earnings (1) 44,479 2,948 9,281 Merger-Related and Other Charges (3,152) 1,976 (2,592) Provision for Credit Losses 300 - (1,000) Income Taxes (15,753) 364 4,886 Net Income - GAAP 25,874$ 608$ 7,987$ Net Interest Margin 3.34 % (0.01) % 0.08 % (fully taxable equivalent) Variance - Incr/(Decr) $ in t housands $ in thousands $ in thousands Expenses Earnings (pre - tax, pre - credit) Fee Revenue M illions (1 ) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures

ucbi.com | 14 Increasing Profitability ucbi.com | 14 Expense Discipline ► Efficiency improvements are attributable to various expense reduction initiatives while maintaining high business growth ► Declining trend sustained with substantial investments in growth and infrastructure 2012 2013 2014 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 Target GAAP 65.4% 63.1% 58.3% 59.2% 61.6% 64.7% 69.0% 61.9% 59.0% 60.8% Non-GAAP Adjustments 0.0% 0.0% 0.0% 0.0% 4.0% 6.8% 9.6% 2.8% 1.2% 3.0% Operating 65.4% 63.1% 58.3% 59.2% 57.6% 57.8% 59.4% 59.1% 57.8% 57.8% 57.0% 50.0% 55.0% 60.0% 65.0% 70.0% Efficiency Ratio (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures

ucbi.com | 15 $65.4 $73.8 $75.0 $74.9 $79.0 $30 $40 $50 $60 $70 $80 3Q15 4Q15 1Q16 2Q16 3Q16 4.16% 4.15% 4.14% 2.13% 2.45% 2.36% 0.17% 0.18% 0.17% 0% 1% 2% 3% 4% 5% 3Q15 4Q15 1Q16 2Q16 3Q16 0.17% 0.17% 0.15% 0.22% 0.26% 0.27% 0.09% 0.10% 0.10% .00% .05% .10% .15% .20% .25% .30% 3Q15 4Q15 1Q16 2Q16 3Q16 3.26% 3.34% 3.41% 3.35% 3.34% 3.00% 3.25% 3.50% Increasing Profitability Key Drivers of Net Interest Revenue / Margin ucbi.com | 15 Net Interest Revenue Key Drivers Net Interest Revenue & Margin (1) 3Q16 Impacted By NET INTEREST REVENUE ► Tidelands acquisition on July 1, 2016 ► Slight margin compression due to loan pricing pressures Millions Loan / Securities / Deposit Pricing Customer Deposit Pricing (2) Loan Yields (fully taxable equivalent) Investment Securities Yields - Taxable Average Rate on Interest Bearing Deposits (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits CDs MMDA NOW

ucbi.com | 16 Increasing Profitability Fee Revenue ucbi.com | 16 Driving Fee Revenue Through Core Banking Infrastructure 9.3 11.5 10.1 10.5 10.8 2.3 3.4 2.9 4.6 5.8 1.2 1.1 1.1 1.1 1.2 3.8 3.3 3.3 4.5 6.0 1.7 2.0 1.2 2.8 2.5 $0 $5 $10 $15 $20 $25 $30 3Q15 4Q15 1Q16 2Q16 3Q16 Fee Revenue in millions Service Charges Other Brokerage Mortgage SBA $18.3 $21.3 $18.6 $23.5 $26.3 $3.8 $3.3 $3.3 $4.5 $6.0 $0 $1 $2 $3 $4 $5 $6 $7 3Q15 4Q15 1Q16 2Q16 3Q16 Mortgage Fees and Production (1) in millions $128 $141 $138 $182 $194 $- $50 $100 $150 $200 (1 ) Applicable periods include Palmetto, FNB and Tidelands production since respective acquisition dates SBA ► 3 Q16 Sales $32 million ► 2015 Sales $71 million ► Target market: small businesses with revenue between $ 1 million and $ 25 million ► Two Channels • Footprint • National Verticals Mortgage ► Growth Strategy • Building on proven strengths in legacy markets of capturing business from a large percentage of United customers • Increase sales capacity in metro area growth markets • Compete favorably on product and service with banks and non - banks of all sizes $1.7 $2.0 $1.2 $2.8 $2.5 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 3Q15 4Q15 1Q16 2Q16 3Q16 SBA Fees (Gains ) and Production (1) in millions $26 $28 $28 $45 $37 $- $10 $20 $30 $40 $50 Mortgage Fees SBA Fees SBA Production Mortgage Production

ucbi.com | 17 Generating Growth New Loans Funded and Advances (1) $ in millions ucbi.com | 17 3Q16 2Q16 3Q15 2Q16 3Q15 Commercial & Industrial 140.0$ 168.4$ 94.8$ (28.4)$ 45.2$ Owner-Occupied CRE 90.2 80.9 51.4 9.3 38.8 Income-Producing CRE 144.8 132.3 95.6 12.5 49.2 Commercial Constr. 14.3 11.0 8.3 3.3 6.0 Total Commercial 389.3 392.6 250.1 (3.3) 139.2 Residential Mortgage 45.3 54.5 41.4 (9.2) 3.9 Residential HELOC 66.8 68.2 44.5 (1.4) 22.3 Residential Construction 78.0 79.3 54.2 (1.3) 23.8 Consumer 61.4 67.4 61.8 (6.0) (0.4) Total 640.8$ 662.0$ 452.0$ (21.2)$ 188.8$ Variance-Incr(Decr) (1) Represents new loans funded and net loan advances (net of payments on lines of credit) New Loans Funded and Advances $452.0 $590.0 $562.3 $662.0 $640.8 $400 $450 $500 $550 $600 $650 $700 3Q15 4Q15 1Q16 2Q16 3Q16 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 3Q16 2Q16 3Q15 2Q16 3Q15 Atlanta 110.6$ 141.6$ 86.7$ (31.0)$ 23.9 Coastal Georgia 53.6 42.7 28.2 10.9 25.4 North Georgia 71.0 59.8 58.1 11.2 12.9 North Carolina 35.4 27.6 28.2 7.8 7.2 Tennessee 35.1 45.8 27.5 (10.7) 7.6 Gainesville 9.8 12.5 11.7 (2.7) (1.9) South Carolina 120.4 103.0 16.1 17.4 104.3 Total Community Banks 435.9 433.0 256.5 2.9 179.4 Asset-based Lending 9.7 10.8 17.1 (1.1) (7.4) Commercial RE 37.8 44.8 57.5 (7.0) (19.7) Healthcare - - 19.8 - (19.8) Senior Care 4.8 - - 4.8 4.8 Middle Market 51.6 56.7 7.5 (5.1) 44.1 SBA 37.0 44.6 26.5 (7.6) 10.5 Builder Finance 25.2 31.2 21.4 (6.0) 3.8 Total Specialized Lending 166.1 188.1 149.8 (22.0) 16.3 Indirect Auto 38.8 40.9 45.7 (2.1) (6.9) Total 640.8$ 662.0$ 452.0$ (21.2)$ 188.8$ Variance-Incr(Decr)

ucbi.com | 18 2012 2013 2014 2015 3Q16 North Georgia 1,364$ 1,240$ 1,163$ 1,125$ 1,110$ Atlanta MSA 1,204 1,235 1,243 1,259 1,332 North Carolina 579 572 553 549 548 Coastal Georgia 400 423 456 537 565 Gainesville MSA 261 255 257 254 236 East Tennessee (1) 283 280 280 504 506 South Carolina (2) - 4 30 819 1,199 Total Community Banks 4,091 4,009 3,982 5,047 5,496 Specialized Lending 46 124 421 492 763 Indirect Auto (3) 38 196 269 456 466 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,725$ Generating Growth Loan Mix $4.18 $4.33 $4.67 $6.00 $6.73 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 2012 2013 2014 2015 3Q16 Billions Commercial Construction Income-Producing Commercial Real Estate Owner-Occupied Commercial Real Estate Commercial & Industrial Indirect Auto Residential HELOC Residential Mortgage Residential Construction Consumer Commercial Retail 2012 2013 2014 2015 3Q16 Commercial & Industrial 458$ 472$ 710$ 785$ 994$ Owner-Occupied CRE 1,131 1,134 1,163 1,494 1,512 Income-Producing CRE 682 623 599 824 1,105 Commercial Constr. 155 149 196 342 389 Total Commercial 2,426 2,378 2,668 3,445 4,000 Residential Mortgage 829 875 866 1,029 1,056 Residential HELOC 385 441 466 598 698 Residential Construction 382 328 299 352 378 Consumer 115 111 104 115 127 Indirect Auto 38 196 269 456 466 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,725$ ucbi.com | 18 (1) Includes $244 million from the acquisition of FNB on May 1, 2015 (2) Includes $733 million and $306 million, respectively, from the acquisitions of Palmetto on September 1, 2015 and Tidelands on July 1, 2016 (3) Includes $63 million from the acquisition of Palmetto on September 1, 2015 Loans by Category i n millions Loans by Region i n millions

ucbi.com | 19 2012 2013 2014 2015 3Q16 2012 2013 2014 2015 3Q16 Non-Interest Bearing Core Demand Deposit 232$ 123$ 161$ 618$ 327$ Demand Deposit 1,188$ 1,311$ 1,471$ 2,089$ 2,416$ NOW (65) 4 9 441 3 MMDA 115 73 41 325 199 Interest Bearing Core Savings 29 24 41 177 73 Total CommercialNOW 654 659 668 1,109 1,112 Growth by Category 311$ 224$ 252$ 1,561$ 602$ MMDA 1,145 1,218 1,259 1,584 1,783 Savings 226 250 292 469 542 Atlanta MSA 160$ 75$ 84$ 223$ 144$ Total Interest Bearing Core 2,025 2,127 2,219 3,162 3,437 North Georgia 41 62 90 158 133 North Carolina 47 42 35 63 61 Total Core Trans Deposits 3,213 3,438 3,690 5,251 5,853 Coastal Georgia 38 2 22 24 9 East Tennessee (1) 9 4 8 234 (17) Time (Customer) 1,724 1,445 1,223 1,251 1,320 Gainesville MSA 16 19 10 34 28 Public Funds (Customer) 770 894 989 1,032 910 South Carolina (2) - 20 3 825 244 Brokered 245 412 425 347 359 Growth by Region 311$ 224$ 252$ 1,561$ 602$ Total LoansTotal Deposits 5,952$ 6,189$ 6,327$ 7,881$ 8,442$ Generating Growth Customer Deposit Mix $5.71 $5.78 $5.90 $7.53 $8.08 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 2012 2013 2014 2015 3Q16 Billions Public Funds (customer) Time (customer) Interest Bearing Core Transaction Non-Interest Bearing Core Transaction Time & Public Core Transaction ucbi.com | 19 Deposits by Category i n millions Core Transaction Deposit Growth by Category & Region i n millions (1) Includes $ 247 million from the acquisition of FNB on May 1, 2015 (2) Includes $790 million and $175 million, respectively, from the acquisition of Palmetto on September 1, 2015 and Tidelands on July 1, 2016

ucbi.com | 20 $ 2.02 $ 2.13 $2.22 $3.16 $3.44 $1.19 $1.31 $1.47 $2.09 $2.41 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2012 2013 2014 2015 3Q16 in billions Non-Interest Bearing Core Transaction Interest Bearing Core Transaction $3.21 $3.44 $3.69 $5.25 $5.85 ucbi.com | 20 High - Quality, Low - Cost Core Transaction Deposit Base 0.50% 0.17% 0.17% 0.00% 0.25% 0.50% 0.75% 1.00% 2012 2013 2014 2015 3Q16 Cost of Interest Bearing Deposits Generating Growth Customer Deposit Mix

ucbi.com | 21 Generating Growth Acquisition of Tidelands Bancshares, Inc. ucbi.com | 21 Combined Branch Map INTERSTATE 26 INTERSTATE 95 Myrtle Beach Garden City Beach North Charleston Summerville Charleston Hilton Head Island Savannah United Community Banks, Inc. (134) Tidelands Bancshares, Inc . (7) Transaction Summary Company Overview Headquarters Mt. Pleasant, SC Established 2003 Branches (7) Charleston (4) Myrtle Beach (2) Hilton Head (1) Assets ($MM) $451 Total Gross Loans ($MM) $306 Deposits ($MM) $402 NPAs / Assets (1) 4.40% • Closed on July 1, 2016 • Conversion scheduled for November 11,. 2016 • $11.2 million aggregate transaction value; 100% cash consideration ‒ $2.2 million value to common, or $0.52 per common share ‒ $9.0 million to redeem TARP, which represents a 56% discount • Target cost savings: approximately $5.0 million • Total credit mark: $17.8 million ‒ Loan mark of $15.4 million gross or 4.8% of gross loans ‒ OREO mark of $2.4 million or 24% of year - end 2015 balances ‒ Covers nonaccrual loans and OREO of $ 20.5 million • Estimated $0.09 to $0.10 EPS accretive in 2017 • Tangible book value dilution of approximately 1.5% with expected earn - back in just over two years • Pro forma Tier 1 common of 11.5%+ • Anticipated internal rate of return in excess of 20% Transaction Rationale • Significantly accelerates UCBI’s Coastal South Carolina expansion and leverages existing lift - out team of experienced bankers and in - market resources, fully executing the two - step Coastal SC growth plan • Tidelands’ markets are in the top 10 fastest growing in the U.S • Significant cost synergies enhance already compelling deal economics • Consistent with UCBI’s Southeastern expansion strategy • Projected e arnings accretion offsets the estimated earnings reduction associated with crossing the $10 billion threshold • Integration risk is offset by merger experience / preparedness and local management already in place (1) NPAs / Assets = (Nonaccrual L oans + OREO) / Total A ssets Source: SNL Financial - Financial M etrics as of December 31, 2015

ucbi.com | 22 ucbi.com | 22 EXHIBITS

ucbi.com | 23 United Community Banks, Inc. ucbi.com | 23 Who We Are Protecting High - Quality Balance Sheet ► Underwriting conservatism and portfolio diversification ► Top quartile credit quality performance ► Prudent capital, liquidity and interest - rate risk management ► Focused on improving return to shareholders with increasing return on tangible common equity and dividend growth Increasing Profitability ► Announced 1.10% ROA (operating) target by 4Q16, up from current 1.08% level ► Managing a steady margin with minimal accretion income ► Fee revenue expansion through focused growth initiatives ► Continued operating expense discipline while investing in growth opportunities ► Executing on M&A cost savings ► High - quality, low - cost core deposit base Generating Growth ► Entered into and continue to target new markets with team lift - outs (Charleston, Greenville, Atlanta) ► Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth ► Addition of Specialized Lending platforms (income - property lending, asset - based lending, SBA lending, builder finance) and actively pursuing additional platforms ► Acquisitions that fit our footprint and culture and deliver desired financial returns

ucbi.com | 24 Protecting High - Quality Balance Sheet ucbi.com | 24 Granular Portfolio – Exposure and Industry Limits • Legal Lending Limit $ 261M • House Lending Limit 28M • Project Lending Limit 17M • Top 25 Relationships 396M STRUCTURE • Centralized underwriting and approval process for consumer credit • Distributed Regional Credit Officers (reporting to Credit) for commercial • Dedicated Special Assets team • Eight of the top twelve credit leaders recruited post - crisis PROCESS • Weekly Senior Credit Committee • Continuous external loan review • Monthly commercial asset quality review • Monthly retail asset quality review meetings POLICY • Continuous review and enhancements to credit policy • Quarterly reviews of portfolio limits and concentrations • Centralized consumer collections • Bi - weekly Potential NAL and NAL/ORE meetings • Quarterly criticized watch loan review meetings • Quarterly portfolio review meetings Consistent Underwriting Disciplined Credit Processes Concentration limits set for all segments of the portfolio

ucbi.com | 25 Protecting High - Quality Balance Sheet ucbi.com | 25 Loan Portfolio Transformation and Diversification 7% 12% 16% 26% 9% 27% 3% $5.7 Billion Loan Portfolio as of 12/31/2008 Commercial (C&I) CRE Income Producing CRE Owner-Occupied Residential Construction Commercial Construction Residential Mortgage Installment 15% 16% 22% 6% 6% 26% 9% $6.7 Billion Loan Portfolio as of 9/30/2016 Commercial (C&I) CRE Income Producing CRE Owner-Occupied Commercial Construction Residential Construction Residential Mortgage & HELOC Installment ► Specialized Lending, which began in 2013, had loans totaling $763 million at September 30, 2016 (11% of the loan portfolio). to

ucbi.com | 26 Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Source: SNL Financial LC Protecting High - Quality Balance Sheet Excellent Credit Performance and Management ucbi.com | 26 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% BOH CBSH UMPQ OZRK COLB BPFH VLY UCBI BKU PB CBU SBNY PNFP CVBF PVTB UMBF ISBC FFBC WTFC BRKL PACW WAL CHCO EWBC CFR BXS CATY PFS FNB STBA SNV WAFD FMBI WBS MBFI FULT TCBI IBKC FHN FCF FFIN UBSI WABC GBCI TCB ASB BOKF TRMK HBHC ONB PRK 2Q16 NPA Ratio Median ► Eight of the top twelve credit leaders recruited post - crisis ► Centralization of special assets ► Centralization of consumer loan underwriting and approval ► Changed commercial approval process, including a Senior Credit Committee for visibility and culture building ► Instituted highly - disciplined concentration management process ► Dedicated credit officers for all specialty businesses and community markets

ucbi.com | 27 Protecting High - Quality Balance Sheet Performing Classified Loans ucbi.com | 27 By Category $ in millions 3Q15 4Q15 1Q16 2Q16 3Q16 Commercial & Industrial 6$ 6$ 9$ 9$ 10$ Owner-Occupied CRE 42 40 33 33 38 Total Commercial & Industrial 48 46 42 42 48 Income-Producing CRE 30 30 30 28 24 Commercial Construction 3 1 1 2 4 Total Commercial 81 77 73 72 76 Residential Mortgage 36 31 33 32 30 Residential HELOC 7 7 6 6 5 Residential Construction 10 11 7 7 8 Consumer / Installment 2 2 2 2 3 Total Performing Classified 136$ 128$ 121$ 119$ 122$ Classified to Tier 1 + ALL 18% 17% 16% 15% 15% $136 $128 $121 $119 $122 $110 $130 $150 3Q15 4Q15 1Q16 2Q16 3Q16

ucbi.com | 28 $84.6 $83.0 $72.8 $73.3 $70.1 $60 $70 $80 $90 3Q15 4Q15 1Q16 2Q16 3Q16 Protecting High - Quality Balance Sheet TDRs ucbi.com | 28 $ in millions LOAN TYPE 3Q16(1) 2Q16 3Q15 3Q16(1) 2Q16 3Q15 3Q16(1) 2Q16 3Q15 Commercial & Industrial 1.9$ 2.1$ 3.5$ -$ -$ -$ 1.9$ 2.1$ 3.5$ Owner-Occupied CRE 23.4 24.7 31.6 2.2 1.4 1.2 25.6 26.1 32.8 Income-Producing CRE 21.0 20.7 14.1 - - .3 21.0 20.7 14.4 Commercial Construction 1.3 1.3 11.2 .1 .1 .1 1.4 1.4 11.3 Total Commercial 47.6 48.8 60.4 2.3 1.5 1.6 49.9 50.3 62.0 Residential Mortgage 17.3 18.2 17.3 1.5 1.3 2.1 18.8 19.5 19.4 Residential HELOC .1 .1 .5 - - - 0.1 0.1 0.5 Residential Construction 4.2 5.2 5.7 1.1 .3 .3 5.3 5.5 6.0 Consumer / Installment .9 1.0 .7 .4 .2 .1 1.3 1.2 0.8 Total TDRs 70.1$ 73.3$ 84.6$ 5.3$ 3.3$ 4.1$ 75.4$ 76.6$ 88.7$ Accruing Non-Accruing Total TDRs Accruing TDRs ► 4.2% of accruing TDRs are past due 30 – 89 days ► 58% of accruing TDRs are pass credits (1) 85% of accruing TDR loans have an interest rate of 4% or greater

ucbi.com | 29 Protecting High - Quality Balance Sheet Commercial Real Estate Diversification ucbi.com | 29 Multi-Residential 120$ 17.0 % 67$ 17.2 % Retail Building 116 16.5 66 17.0 Other Properties 78 11.1 43 11.0 Land Develop - Vacant (Improved) 65 9.2 54 13.9 Office Buildings 89 12.6 39 10.0 Commercial Land Development 30 4.3 26 6.7 Raw Land - Vacant (Unimproved) 45 6.4 36 9.3 Warehouse 32 4.5 19 4.9 Hotels / Motels 36 5.1 17 4.4 Assisted Living/Nursing Home/Rehab 44 6.2 11 2.8 Churches 25 3.6 5 1.3 Leasehold Property 17 2.4 2 0.5 Restaurants / Franchise 8 1.1 4 1.0 Total Commercial Construction 705$ 100.0 % 389$ 100.0 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Retail Building 289$ 25.1 % 276$ 25.0 Office Buildings 268 23.2 259 23.4 Warehouse 112 9.7 104 9.4 Hotels / Motels 87 7.5 85 7.7 Multi-Residential 105 9.1 103 9.3 Other Properties 163 14.1 150 13.6 Convenience Stores 47 4.1 46 4.2 Restaurants / Franchise Fast Food 29 2.5 29 2.6 Manufacturing Facility 18 1.6 18 1.6 Leasehold Property 16 1.4 16 1.4 Automotive Service 7 0.6 7 0.6 Daycare Facility 5 0.4 5 0.5 Mobile Home Parks 4 0.4 4 0.4 Automotive Dealership 3 0.3 3 0.3 Total Commercial Real Estate - Income Producing 1,153$ 100.0 % 1,105$ 100.0 Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $667 • Commercial RE: • Composite CRE 516 • Owner - Occupied 418 • Income - Producing 760 Committed Average Loan Size (in thousands ) • Commercial Construction $1,206 • Commercial RE: • Composite CRE 541 • Owner - Occupied 439 • Income - Producing 793

ucbi.com | 30 Protecting High - Quality Balance Sheet Liquidity ucbi.com | 30 Capacity 3Q16 2Q16 3Q15 vs 2Q16 vs 3Q15 WHOLESALE BORROWINGS Brokered Deposits (1) 1,030$ 359$ 412$ 517$ (53)$ (158)$ FHLB 1,106 449 735 200 (286) 249 Holding Company LOC 50 - - - - - Fed Funds 740 - - 5 - (5) Other Wholesale 1,066 - - 14 - (14) Total 3,992$ 808$ 1,147$ 736$ (339)$ 72$ LONG-TERM DEBT Senior Debt 160$ 160$ 160$ -$ -$ Trust Preferred Securities 16 6 6 10 10 Total Long-Term Debt 176$ 166$ 166$ 10$ 10$ Cash 49$ 62$ 54$ (13)$ (5)$ Loans / Deposits Loans 6,725$ 6,287$ 6,022$ 438$ 703$ Core (DDA, MMDA, Savings) 5,853$ 5,423$ 5,246$ 430$ 607$ Public Funds 910 868 831 42 79 CD's 1,320 1,154 1,311 166 9 Total Customer Deposits (excl Brokered) 8,083$ 7,445$ 7,388$ 638$ 695$ Loan to Customer Deposit Ratio 83% 84% 82% Investment Securities Available for Sale -Fixed 1,584$ 1,714$ 1,435$ (130)$ 149$ -Floating 631 622 665 9 (34) Held to Maturity -Fixed 342 338 354 4 (12) -Floating 3 4 4 (1) (1) Total Investment Securities 2,560$ 2,678$ 2,458$ (118)$ 102$ Floating as % of Total Securities 25% 23% 27% Wholesale Borrowings Holding Company Long - Term Debt / Cash Investment Securities (1) Estimated brokered deposit total capacity at 10% of assets $ in millions Loans / Customer Deposits

ucbi.com | 31 Note: Peer comparison banks comprise the KBW Regional Bank Index (ticker: KRX) Source: SNL Financial LC Increasing Profitability High - Quality, Low - Cost Core Deposit Base ucbi.com | 31 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% CFR COLB WABC FFIN BOH CVBF CBU UMBF FMBI UCBI TRMK CBSH ONB FCF FHN UMPQ BOKF PACW MBFI TCBI BXS WAL PB ASB PRK GBCI WBS PFS FNB HBHC SNV WTFC UBSI BPFH PNFP EWBC IBKC FULT FFBC TCB CHCO PVTB STBA SBNY OZRK BRKL VLY WAFD CATY ISBC BKU 2Q16 Cost of Deposits Median ► Our second quarter 2016 total cost of deposits was 12 basis points, which compared favorably to peers with a median of 26 basis points ► Core deposits (excludes Jumbo CDs / Brokered) comprised approximately 90% of our total deposits at June 30, 2016

ucbi.com | 32 Generating Growth ucbi.com | 32 Steady Loan Growth $4.18 $4.33 $4.52 $4.96 $6.42 $1.04 $0.31 $0.16 $3.00 $4.00 $5.00 $6.00 $7.00 2012 2013 2014 2015 3Q16 Total Loans in billions Organic Acquired Healthcare (sold 4Q15) $6.00 $4.68 $6.73 9% Annualized Growth 10% Growth

ucbi.com | 33 Generating Growth Market Share Opportunities ucbi.com | 33 (1) FDIC deposit market share and rank as of June 30, 2016 for markets where United takes deposits. Data Source: FDIC. (2) Based on current quarter. $ in billions (1) (2) (1) (1) North Georgia $ 6.5 $ 2.3 9 22 36% 1 Atlanta, Georgia 66.2 2.5 10 36 4 7 Gainesville, Georgia 3.2 0.3 1 5 11 4 Coastal Georgia 8.7 0.3 2 7 4 8 Western North Carolina 11.9 1.0 1 19 8 3 East Tennessee 17.4 0.5 2 12 3 6 Upstate South Carolina 23.2 1.1 4 25 5 7 Coastal South Carolina 20.8 0.4 1 7 2 14 Loan Production Offices - - - 7 Total Markets, September 30, 2016 $ 157.9 $ 8.4 30 140 Excellent Growth Opportunities Banks Offices Rank Market Deposits United Deposits Deposit Share

ucbi.com | 34 Generating Growth Market Share Demographics ucbi.com | 34 3.32% 4.38% 5.21% 6.10% 6.61% 6.69% 7.10% 8.66% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% Knoxville, TN Cleveland, TN Asheville, NC Greenville, SC Gainesville, GA Atlanta, GA Savannah, GA Charleston, SC Key MSA Growth Markets Projected Change 2017 - 2022 3.77% 3.90% 5.00% 5.17% 5.75% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% United States Tennessee North Carolina Georgia South Carolina State Population Growth Projected Change 2017 – 2022 Source: SNL Financial

ucbi.com | 35 Mergers & Acquisitions Strategy ► M&A accelerates our growth strategy in new and existing markets and can be accomplished more efficiently than with a de novo plan; we seek to pair M&A with organic growth opportunities, including adding teams of local bankers to quickly increase growth. ► We are interested in pursuing transactions in our target markets including: • Coastal South Carolina – Charleston, Myrtle Beach, Hilton Head; • East Tennessee – Knoxville to Chattanooga and Cleveland; • Atlanta – Northern region; and • North Carolina – Western (Asheville area) to Eastern (Raleigh/Cary area). ► While larger transformational deals are not out of the question, we have decided to focus on roll - up targets, as we believe there are more actionable opportunities with a shorter time to complete and less risk. ► We carefully evaluate and price potential acquisitions with specific financial return targets in mind, including: • Year one EPS accretion, not including transaction expenses; • TBV dilution threshold in the low single digits and earnback within three years; and • IRR of 20 %+. ucbi.com | 35 Generating Growth

ucbi.com | 36 UCBI MoneyTree • Closed on May 1 with successful operational conversion on July 18 - 19; business has remained stable • Added a $425 million, 107 year old community bank • Doubled UCBI’s East TN presence in key markets – Knoxville, Lenoir City and Cleveland • Consolidated six branches – three UCBI and three MoneyTree / FNB branches and now have 12 branches • Executed on cost savings, which exceeded original estimates due mainly to branch overlap and back office redundancies • Expect EPS accretion of 3% in 2016 and 2017 • TBV dilution of <1% and breakeven in < 3 years • Closed on September 1 with successful operational conversion on February 21 - 22 • Added a $1.2 billion,109 year old community bank with 25 branches covering Upstate SC • United had previously established a regional headquarters in Greenville, including several members of Executive Management; however, only one existing branch • Retained Senior Management positions in Banking, Mortgage, Finance and Ops/IT for business continuity and to lead growth • Targeted cost savings will be fully realized in 2Q16 • Double - digit EPS accretion in 2017 with TBV earnback < 5 years and IRR > 20% UCBI Palmetto 2015 Acquisitions ucbi.com | 36 MoneyTree Corp./FNB The Palmetto Bank Generating Growth

ucbi.com | 37 Experienced Proven Leadership Jimmy C. Tallent Chairman & CEO Joined 1984 H. Lynn Harton Board, President & COO Joined 2012 Bill M. Gilbert President, Community Banking Joined 2000 Bradley J. Miller EVP, CRO & General Counsel Joined 2007 • Over 40 years in banking • Led company from $42 million in assets in 1989 to $10.3 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 35 years in banking • Responsible for accounting, finance and reporting activities, M&A and investor relations • Former CAO and Controller for State Street Corporation • Former ABA Accounting Committee Chairman • Over 35 years in banking • Responsible for 30 community banks with 140 banking offices • Formerly of Riegel Textile Credit Union; President of Farmers and Merchants Bank • Former Georgia Board of Natural Resources Board Chairman • Over 20 years experience in consumer and banking law • Responsible for legal , enterprise r isk m anagement , and compliance • Chairman of the Georgia Bankers Association Bank Counsel Section • Member of the American Bankers Association Regional General Counsels Robert A. Edwards EVP & CCO Joined 2015 Richard W. Bradshaw President, Specialized Lending Joined 2014 • Over 25 years in lending • Responsible for specialized lending • Former SBA head: TD Bank and Carolina First’s SBA programs; President of UPS Capital Business Credit • Highly decorated Commander in the U.S. Naval Reserve Intelligence Program (retired) • Over 25 years in banking • Responsible for credit risk including credit underwriting, policy and special assets • Former EVP & Executive Credit Officer for TD Bank, NA and Chief Credit Officer of The South Financial Group. ucbi.com | 37 Rex S. Schuette EVP & CFO Joined 2001

ucbi.com | 38 3Q15 4Q15 1Q16 2Q16 3Q16 Net Income Net income - GAAP 17,887$ 18,208$ 22,295$ 25,266$ 25,874$ Merger-related and other charges 5,744 9,078 2,653 1,176 3,152 Tax benefit on merger-related and other charges (1,905) (3,486) (1,004) (445) (1,193) Net income - Operating 21,726$ 23,800$ 23,944$ 25,997$ 27,833$ Diluted Earnings per share Diluted earnings per share - GAAP 0.27$ 0.25$ 0.31$ 0.35$ 0.36$ Merger-related and other charges 0.06 0.08 0.02 0.01 0.03 Diluted earnings per share - Operating 0.33$ 0.33$ 0.33$ 0.36$ 0.39$ Return on Assets Return on assets - GAAP 0.82 % 0.76 % 0.93 % 1.04 % 1.00 % Merger-related and other charges 0.18 0.23 0.07 0.03 0.08 Return on assets - Operating 1.00 % 0.99 % 1.00 % 1.07 % 1.08 % Return on Tangible Common Equity Return on common equity - GAAP 7.85 % 7.02 % 8.57 % 9.54 % 9.61 % Effect of merger-related charges 1.69 2.16 0.63 0.27 0.73 Return on common equity - Operating 9.54 9.18 9.20 9.81 10.34 Effect of goodwill and intangibles 0.75 1.69 1.71 1.75 2.11 Return on tangible common equity - Operating 10.29 % 10.87 % 10.91 % 11.56 % 12.45 % Expenses Expenses - GAAP 54,269$ 65,488$ 57,885$ 58,060$ 64,023$ Merger-related charges (5,744) (3,109) (2,653) (1,176) (3,152) Impairment charge on real estate held for future use - (5,969) - - - Expenses - Operating 48,525$ 56,410$ 55,232$ 56,884$ 60,871$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 28,754$ 29,260$ 35,873$ 40,655$ 41,627$ Merger-related charges 5,744 3,109 2,653 1,176 3,152 Impairment charge on real estate held for future use - 5,969 - - - Provision for credit losses 700 300 (200) (300) (300) Pre-Tax, Pre-Credit Earnings - Operating 35,198$ 38,638$ 38,326$ 41,531$ 44,479$ Efficiency Ratio Efficiency Ratio - GAAP 64.65 % 68.97 % 61.94 % 59.02 % 60.78 % Merger-related and other charges (6.84) (9.56) (2.84) (1.20) (2.99) Efficiency Ratio - Operating 57.81 % 59.41 % 59.10 % 57.82 % 57.79 % Non - GAAP Reconciliation Tables $ in thousands, except per share data ucbi.com | 38