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):
January 25, 2017

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 January 25, 2017, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended December 31, 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 January 25, 2017 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 Fourth 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 January 25, 2017

99.2		Investor Presentation, Fourth 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: January 25, 2017

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 FOURTH QUARTER EARNINGS

Diluted earnings per share up 52 percent, to 38 cents, from fourth quarter 2015

Excluding merger-related and other non-operating charges,

diluted operating EPS up 21 percent, to 40 cents

Return on assets of 1.03 percent, or 1.10 percent excluding merger-related and other charges
Loan growth of $196 million from the third quarter, or 12 percent annualized
Core transaction deposits up $62.4 million from the third quarter, or 4 percent annualized
Efficiency ratio of 57.7 percent, or 56.6 percent excluding merger-related and other charges

BLAIRSVILLE, GA – January 25, 2017 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced strong fourth quarter results with solid loan growth, effective expense management, sound credit quality and improvement in nearly every other performance measure. Net income grew to $27.2 million, or 38 cents per diluted share, compared with $18.2 million, or 25 cents per diluted share, for the fourth quarter of 2015. Net income for the full year of 2016 was $100.7 million, or $1.40 per diluted share. This compares with $71.6 million, or $1.09 per diluted share, for 2015.

On an operating basis, net income rose to $28.9 million for the fourth quarter of 2016 compared with $23.8 million for the fourth quarter of 2015. Fourth quarter 2016 operating net income excludes pre-tax merger-related charges of $1.14 million and the associated tax benefit of $432,000, as well as a tax charge of $976,000 related to the cancellation of nonqualified stock options.

Fourth quarter 2015 operating net income excludes $3.11 million in pre-tax merger-related charges and $5.97 million in pre-tax charges for impairment on properties acquired for future expansion. The tax benefit on the fourth quarter 2015 charges was $3.49 million. On a per diluted share basis, operating net income was 40 cents for the fourth quarter of 2016 compared with 33 cents for the fourth quarter of 2015. For the full year of 2016, operating net income was $106.7 million, or $1.48 per diluted share, compared with $83.1 million, or $1.27 per diluted share, for 2015.

At December 31, 2016, preliminary regulatory capital ratios were as follows: Tier 1 Risk-Based of 11.3 percent; Total Risk-Based of 12.1 percent; Common Equity Tier 1 Risk-Based of 11.3 percent; and, Tier 1 Leverage of 8.5 percent.

“Our fourth quarter results mark a solid ending to an exceptional year for United Community Banks,” said Jimmy Tallent, chairman and chief executive officer. “Our bankers continue to make progress in improving our financial performance. A year ago we set a goal of achieving a 1.10 percent operating return on assets by the fourth quarter of 2016. We knew that achieving this goal would not be easy, but we also knew our determined bankers and how they react to a challenge. I am proud to say that in the fourth quarter, not only did they achieve that goal, but they also pushed our operating return on tangible common equity to 12.5 percent and improved our operating efficiency ratio to 56.6 percent. I could not be more pleased.” Operating performance measures exclude the charges mentioned above. Including those charges, return on assets was 1.03 percent, return on common equity was 9.89 percent and the efficiency ratio was 57.7 percent.

“In the fourth quarter we completed all systems conversions for Tidelands Bank, and we have achieved all expected cost savings from that acquisition,” Tallent said. “We are proud that Tidelands is now fully integrated with United Community Bank, operating under our brand in coastal South Carolina.

“Fourth quarter loan production was $747 million,” Tallent added. “Linked-quarter loan growth of $196 million, or 12 percent annualized, was slightly above our 2016 loan growth target of mid-to-upper single-digit. Our community banks originated $490 million in loans while specialized lending produced $216 million. United’s specialized lending area encompasses commercial real estate, middle market, SBA, asset-based lending, senior living and builder finance.”

Fourth quarter net interest revenue totaled $80.9 million, up $1.9 million from the third quarter and up $7.2 million from the fourth quarter of 2015. The increase from both periods reflects loan growth, and the increase from a year ago also includes net interest revenue from recent acquisitions.

The taxable-equivalent net interest margin of 3.34 percent remained the same as in the third quarter of 2016 and the fourth quarter of 2015. The effect of rising short-term interest rates and lower wholesale borrowings offset the impact of competitive loan pricing.

No provision for credit losses was required for the fourth quarter. This compares with a provision recovery of $300,000 in the third quarter, and a provision of $300,000 in the fourth quarter of 2015. Fourth quarter net charge-offs totaled $1.5 million, compared with $1.4 million in the third quarter and $1.3 million in the fourth quarter of 2015. Contributing to the low level of net charge-offs were continued strong recoveries of previously charged-off loans. Nonperforming assets were .28 percent of total assets at December 31, 2016, compared with .30 percent at September 30, 2016 and .29 percent at December 31, 2015.

“Our lack of need for a provision for loan losses reflects continued strong credit quality and a low overall level of net charge-offs,” Tallent commented. “Our credit quality indicators remain favorable and our outlook is for positive credit quality and low provision levels through 2017. We expect to gradually increase provision levels with loan growth during the year, which is expected to slightly decrease our allowance and the related ratio to total loans.”

Fourth quarter fee revenue totaled $25.2 million, a decrease of $1.13 million from the third quarter and up $3.95 million from a year ago. Mortgage fees were up $477,000 from the third quarter, and $3.23 million from a year ago. Gains from sales of SBA loans were up $549,000 from the third quarter, and up $1.03 million from a year ago due to continued growth in SBA lending. Offsetting the mortgage and SBA business growth from the third quarter of 2016 were decreases in merchant services and brokerage fees, and in deposit account fees and service charges. Customer derivative fees were also down from the record level achieved in the third quarter.

“The rise in mortgage fees reflects our strategic investment in additional mortgage lenders where we see opportunities to gain market share and higher spreads on loan sales,” Tallent said. “Also, our SBA lending business remains a top priority. In the fourth quarter we sold $41 million in loans compared with $32 million in the third quarter and $25 million in the fourth quarter of 2015.”

Operating expenses were $61.3 million for the fourth quarter, compared with $64.0 million for the third quarter and $65.5 million for the fourth quarter of 2015. Included in operating expenses are merger-related and impairment charges of $1.14 million in the fourth quarter, $3.15 million in the third quarter and $9.08 million in the fourth quarter of 2015. Excluding these charges, fourth quarter operating expenses were $60.2 million compared with $60.9 million for the third quarter, and $56.4 million a year ago.

The decrease in operating expenses from the third quarter is mostly in salaries and employee benefits costs and a decrease in professional fees. The increase from a year ago reflects the additional operating expenses of Tidelands Bank following its acquisition on July 1, 2016. United’s financial results include operating expenses of acquired companies beginning on their respective acquisition dates. The benefit of higher revenue and the lower level of fourth quarter expenses compared to the third quarter also improved the operating efficiency ratio to 56.6 percent, compared to 57.8 percent in the third quarter and 59.4 percent a year ago.

Tallent concluded, “I am very proud of our bankers and the exceptional results they achieved in 2016. They steadily improved financial performance while providing the best in customer service, which is the foundation of our success and the core of everything we do. With our strong earnings momentum, a high-quality balance sheet and strategic investments in our franchise, I look forward with optimism going into 2017.”

Conference Call

United will hold a conference call today, Wednesday, January 25, 2017, 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 47644518. 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 $10.7 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 139 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. Respected national research firms consistently recognize United Community Bank for outstanding customer service: In 2014, 2015 and 2016, J.D. Power ranked United Community Bank first in customer satisfaction in the Southeast. In 2017, for the fourth consecutive year, Forbes included United among their list of the top 100 Best Banks in America. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures

This 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

																Fourth			For the Twelve
	2016												2015			Quarter			Months Ended						YTD
	Fourth			Third			Second			First			Fourth			2016-2015			December 31,						2016-2015
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2016			2015			Change
INCOME SUMMARY
Interest revenue	$	87,778		$	85,439		$	81,082		$	80,721		$	79,362					$	335,020		$	278,532
Interest expense		6,853			6,450			6,164			5,769			5,598						25,236			21,109
Net interest revenue		80,925			78,989			74,918			74,952			73,764			10	%		309,784			257,423			20	%
Provision for credit losses		-			(300	)		(300	)		(200	)		300						(800	)		3,700
Fee revenue		25,233			26,361			23,497			18,606			21,284			19			93,697			72,529			29
Total revenue		106,158			105,650			98,715			93,758			94,748			12			404,281			326,252			24
Expenses		61,321			64,023			58,060			57,885			65,488			(6	)		241,289			211,238			14
Income before income tax expense		44,837			41,627			40,655			35,873			29,260			53			162,992			115,014			42
Income tax expense		17,616			15,753			15,389			13,578			11,052			59			62,336			43,436			44
Net income		27,221			25,874			25,266			22,295			18,208			50			100,656			71,578			41
Preferred dividends		-			-			-			21			25						21			67
Net income available to common shareholders	$	27,221		$	25,874		$	25,266		$	22,274		$	18,183			50		$	100,635		$	71,511			41
Merger-related and other charges		1,141			3,152			1,176			2,653			9,078						8,122			17,995
Income tax benefit of merger-related and other charges		(432	)		(1,193	)		(445	)		(1,004	)		(3,486	)					(3,074	)		(6,388	)
Impairment of deferred tax asset on cancelled non-qualified stock options		976			-			-			-			-						976			-
Net income available to common shareholders - operating ⁽¹⁾	$	28,906		$	27,833		$	25,997		$	23,923		$	23,775			22		$	106,659		$	83,118			28

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.38		$	.36		$	.35		$	.31		$	.25			52		$	1.40		$	1.09			28
Diluted net income - operating ⁽¹⁾		.40			.39			.36			.33			.33			21			1.48			1.27			17
Cash dividends declared		.08			.08			.07			.07			.06						.30			.22
Book value		15.06			15.12			14.80			14.35			14.02			7			15.06			14.02			7
Tangible book value ⁽³⁾		12.95			13.00			12.84			12.40			12.06			7			12.95			12.06			7

Key performance ratios:
Return on common equity - GAAP ⁽²⁾⁽⁴⁾		9.89	%		9.61	%		9.54	%		8.57	%		7.02	%					9.41	%		8.15	%
Return on common equity - operating ^(1)(2)(4)		10.51			10.34			9.81			9.20			9.18						9.98			9.48
Return on tangible common equity - operating ^(1)(2)(3)(4)		12.47			12.45			11.56			10.91			10.87						11.86			10.24
Return on assets - GAAP ⁽⁴⁾		1.03			1.00			1.04			.93			.76						1.00			.85
Return on assets - operating ⁽¹⁾⁽⁴⁾		1.10			1.08			1.07			1.00			.99						1.06			.98
Dividend payout ratio - GAAP		21.05			22.22			20.00			22.58			24.00						21.43			20.18
Dividend payout ratio - operating ⁽¹⁾		20.00			20.51			19.44			21.21			18.18						20.27			17.32
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.34			3.34			3.35			3.41			3.34						3.36			3.30
Efficiency ratio - GAAP		57.65			60.78			59.02			61.94			68.97						59.80			63.96
Efficiency ratio - operating ⁽¹⁾		56.58			57.79			57.82			59.10			59.41						57.78			58.51
Average equity to average assets		10.35			10.38			10.72			10.72			10.68						10.54			10.27
Average tangible equity to average assets ⁽³⁾		9.04			8.98			9.43			9.41			9.40						9.21			9.74
Average tangible common equity to average assets ⁽³⁾		9.04			8.98			9.43			9.32			9.29						9.19			9.66
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁵⁾		11.89			12.22			12.87			12.77			12.82						11.89			12.82

ASSET QUALITY
Nonperforming loans	$	21,539		$	21,572		$	21,348		$	22,419		$	22,653			(5	)	$	21,539		$	22,653			(5	)
Foreclosed properties		7,949			9,187			6,176			5,163			4,883			63			7,949			4,883			63
Total nonperforming assets (NPAs)		29,488			30,759			27,524			27,582			27,536			7			29,488			27,536			7
Allowance for loan losses		61,422			62,961			64,253			66,310			68,448			(10	)		61,422			68,448			(10	)
Net charge-offs		1,539			1,359			1,730			2,138			1,302			18			6,766			6,259			8
Allowance for loan losses to loans		.89	%		.94	%		1.02	%		1.09	%		1.14	%					.89	%		1.14	%
Net charge-offs to average loans ⁽⁴⁾		.09			.08			.11			.14			.09						.11			.12
NPAs to loans and foreclosed properties		.43			.46			.44			.45			.46						.43			.46
NPAs to total assets		.28			.30			.28			.28			.29						.28			.29

AVERAGE BALANCES ($ in millions)
Loans	$	6,814		$	6,675		$	6,151		$	6,004		$	5,975			14		$	6,413		$	5,298			21
Investment securities		2,690			2,610			2,747			2,718			2,607			3			2,691			2,368			14
Earning assets		9,665			9,443			9,037			8,876			8,792			10			9,257			7,834			18
Total assets		10,484			10,281			9,809			9,634			9,558			10			10,054			8,462			19
Deposits		8,552			8,307			7,897			7,947			8,028			7			8,177			7,055			16
Shareholders’ equity		1,085			1,067			1,051			1,033			1,021			6			1,059			869			22
Common shares - basic (thousands)		71,641			71,556			72,202			72,162			72,135			(1	)		71,910			65,488			10
Common shares - diluted (thousands)		71,648			71,561			72,207			72,166			72,140			(1	)		71,915			65,492			10

AT PERIOD END ($ in millions)
Loans	$	6,921		$	6,725		$	6,287		$	6,106		$	5,995			15		$	6,921		$	5,995			15
Investment securities		2,762			2,560			2,677			2,757			2,656			4			2,762			2,656			4
Total assets		10,709			10,298			9,928			9,781			9,616			11			10,709			9,616			11
Deposits		8,638			8,442			7,857			7,960			7,873			10			8,638			7,873			10
Shareholders’ equity		1,076			1,079			1,060			1,034			1,018			6			1,076			1,018			6
Common shares outstanding (thousands)		70,899			70,861			71,122			71,544			71,484			(1	)		70,899			71,484			(1	)

⁽¹⁾Excludes merger-related charges, a fourth quarter 2016 deferred tax asset impairment charge related to cancelled non-qualified stock options and fourth quarter 2015 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⁾ Fourth quarter 2016 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Selected Financial Information

For the Years Ended December 31,

(in thousands, except per share data)	2016			2015			2014			2013			2012
INCOME SUMMARY
Interest revenue	$	335,020		$	278,532		$	248,432		$	245,840		$	265,977
Interest expense		25,236			21,109			25,551			27,682			37,909
Net interest revenue		309,784			257,423			222,881			218,158			228,068
Provision for credit losses		(800	)		3,700			8,500			65,500			62,500
Fee revenue		93,697			72,529			55,554			56,598			56,112
Total revenue		404,281			326,252			269,935			209,256			221,680
Expenses		241,289			211,238			162,865			174,304			186,774
Income before income tax expense		162,992			115,014			107,070			34,952			34,906
Income tax expense (benefit)		62,336			43,436			39,450			(238,188	)		1,050
Net income		100,656			71,578			67,620			273,140			33,856
Preferred dividends		21			67			439			12,078			12,148
Net income available to common shareholders	$	100,635		$	71,511		$	67,181		$	261,062		$	21,708
Merger-related and other charges		8,122			17,995			-			-			-
Income tax benefit of merger-related and other charges		(3,074	)		(6,388	)		-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		976			-			-			-			-
Net income available to common shareholders - operating ⁽¹⁾	$	106,659		$	83,118		$	67,181		$	261,062		$	21,708

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	1.40		$	1.09		$	1.11		$	4.44		$	.38
Diluted net income - operating ⁽¹⁾		1.48			1.27			1.11			4.44			.38
Cash dividends declared		.30			.22			.11			-			-
Book value		15.06			14.02			12.20			11.30			6.67
Tangible book value ⁽³⁾		12.95			12.06			12.15			11.26			6.57

Key performance ratios:
Return on common equity - GAAP ⁽²⁾		9.41	%		8.15	%		9.17	%		46.72	%		5.43	%
Return on common equity - operating ⁽¹⁾⁽²⁾		9.98			9.48			9.17			46.72			5.43
Return on tangible common equity - operating ^(1)(2)(3)		11.86			10.24			9.32			47.35			6.27
Return on assets - GAAP		1.00			.85			.91			3.86			.49
Return on assets - operating ⁽¹⁾		1.06			.98			.91			3.86			.49
Dividend payout ratio - GAAP		21.43			20.18			9.91			-			-
Dividend payout ratio - operating ⁽¹⁾		20.27			17.32			9.91			-			-
Net interest margin (fully taxable equivalent)		3.36			3.30			3.26			3.30			3.51
Efficiency ratio - GAAP		59.80			63.96			58.26			63.14			65.43
Efficiency ratio - operating ⁽¹⁾		57.78			58.51			58.26			63.14			65.43
Average equity to average assets		10.54			10.27			9.69			10.35			8.47
Average tangible equity to average assets ⁽³⁾		9.21			9.74			9.67			10.31			8.38
Average tangible common equity to average assets ⁽³⁾		9.19			9.66			9.60			7.55			5.54
Tangible common equity to risk-weighted assets ⁽³⁾⁽⁴⁾		11.89			12.82			13.82			13.17			8.26

ASSET QUALITY
Nonperforming loans	$	21,539		$	22,653		$	17,881		$	26,819		$	109,894
Foreclosed properties		7,949			4,883			1,726			4,221			18,264
Total nonperforming assets (NPAs)		29,488			27,536			19,607			31,040			128,158
Allowance for loan losses		61,422			68,448			71,619			76,762			107,137
Net charge-offs		6,766			6,259			13,879			93,710			69,831
Allowance for loan losses to loans		.89	%		1.14	%		1.53	%		1.77	%		2.57	%
Net charge-offs to average loans		.11			.12			.31			2.22			1.69
NPAs to loans and foreclosed properties		.43			.46			.42			.72			3.06
NPAs to total assets		.28			.29			.26			.42			1.88

AVERAGE BALANCES ($ in millions)
Loans	$	6,413		$	5,298		$	4,450		$	4,254		$	4,166
Investment securities		2,691			2,368			2,274			2,190			2,089
Earning assets		9,257			7,834			6,880			6,649			6,547
Total assets		10,054			8,462			7,436			7,074			6,865
Deposits		8,177			7,055			6,228			6,027			5,885
Shareholders’ equity		1,059			869			720			732			582
Common shares - basic (thousands)		71,910			65,488			60,588			58,787			57,857
Common shares - diluted (thousands)		71,915			65,492			60,590			58,845			57,857

AT PERIOD END ($ in millions)
Loans	$	6,921		$	5,995		$	4,672		$	4,329		$	4,175
Investment securities		2,762			2,656			2,198			2,312			2,079
Total assets		10,709			9,616			7,558			7,424			6,801
Deposits		8,638			7,873			6,335			6,202			5,952
Shareholders’ equity		1,076			1,018			740			796			581
Common shares outstanding (thousands)		70,899			71,484			60,259			59,432			57,741

⁽¹⁾Excludes merger-related charges, a 2016 deferred tax asset impairment charge related to cancelled non-qualified stock options and 2015 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⁾ 2016 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2016												2015			For the Twelve Months Ended
	Fourth			Third			Second			First			Fourth			December 31,
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			2016			2015			2014			2013			2012

Expense reconciliation
Expenses (GAAP)	$	61,321		$	64,023		$	58,060		$	57,885		$	65,488		$	241,289		$	211,238		$	162,865		$	174,304		$	186,774
Merger-related and other charges		(1,141	)		(3,152	)		(1,176	)		(2,653	)		(9,078	)		(8,122	)		(17,995	)		-			-			-
Expenses - operating	$	60,180		$	60,871		$	56,884		$	55,232		$	56,410		$	233,167		$	193,243		$	162,865		$	174,304		$	186,774

Net income reconciliation
Net income (GAAP)	$	27,221		$	25,874		$	25,266		$	22,295		$	18,208		$	100,656		$	71,578		$	67,620		$	273,140		$	33,856
Merger-related and other charges		1,141			3,152			1,176			2,653			9,078			8,122			17,995			-			-			-
Income tax benefit of merger-related and other charges		(432	)		(1,193	)		(445	)		(1,004	)		(3,486	)		(3,074	)		(6,388	)		-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		976			-			-			-			-			976			-			-			-			-
Net income - operating	$	28,906		$	27,833		$	25,997		$	23,944		$	23,800		$	106,680		$	83,185		$	67,620		$	273,140		$	33,856

Net income available to common shareholders reconciliation
Net income available to common shareholders (GAAP)	$	27,221		$	25,874		$	25,266		$	22,274		$	18,183		$	100,635		$	71,511		$	67,181		$	261,062		$	21,708
Merger-related and other charges		1,141			3,152			1,176			2,653			9,078			8,122			17,995			-			-			-
Income tax benefit of merger-related and other charges		(432	)		(1,193	)		(445	)		(1,004	)		(3,486	)		(3,074	)		(6,388	)		-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		976			-			-			-			-			976			-			-			-			-
Net income available to common shareholders - operating	$	28,906		$	27,833		$	25,997		$	23,923		$	23,775		$	106,659		$	83,118		$	67,181		$	261,062		$	21,708

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.38		$	.36		$	.35		$	.31		$	.25		$	1.40		$	1.09		$	1.11		$	4.44		$	.38
Merger-related and other charges		.01			.03			.01			.02			.08			.07			.18			-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		.01			-			-			-			-			.01			-			-			-			-
Diluted income per common share - operating	$	.40		$	.39		$	.36		$	.33		$	.33		$	1.48		$	1.27		$	1.11		$	4.44		$	.38

Book value per common share reconciliation
Book value per common share (GAAP)	$	15.06		$	15.12		$	14.80		$	14.35		$	14.02		$	15.06		$	14.02		$	12.20		$	11.30		$	6.67
Effect of goodwill and other intangibles		(2.11	)		(2.12	)		(1.96	)		(1.95	)		(1.96	)		(2.11	)		(1.96	)		(.05	)		(.04	)		(.10	)
Tangible book value per common share	$	12.95		$	13.00		$	12.84		$	12.40		$	12.06		$	12.95		$	12.06		$	12.15		$	11.26		$	6.57

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.89	%		9.61	%		9.54	%		8.57	%		7.02	%		9.41	%		8.15	%		9.17	%		46.72	%		5.43	%
Merger-related and other charges		.26			.73			.27			.63			2.16			.48			1.33			-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		.36			-			-			-			-			.09			-			-			-			-
Return on common equity - operating		10.51			10.34			9.81			9.20			9.18			9.98			9.48			9.17			46.72			5.43
Effect of goodwill and other intangibles		1.96			2.11			1.75			1.71			1.69			1.88			.76			.15			.63			.84
Return on tangible common equity - operating		12.47	%		12.45	%		11.56	%		10.91	%		10.87	%		11.86	%		10.24	%		9.32	%		47.35	%		6.27	%

Return on assets reconciliation
Return on assets (GAAP)		1.03	%		1.00	%		1.04	%		.93	%		.76	%		1.00	%		.85	%		.91	%		3.86	%		.49	%
Merger-related and other charges		.03			.08			.03			.07			.23			.05			.13			-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		.04			-			-			-			-			.01			-			-			-			-
Return on assets - operating		1.10	%		1.08	%		1.07	%		1.00	%		.99	%		1.06	%		.98	%		.91	%		3.86	%		.49	%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		21.05	%		22.22	%		20.00	%		22.58	%		24.00	%		21.43	%		20.18	%		9.91	%		-	%		-	%
Merger-related and other charges		(.54	)		(1.71	)		(.56	)		(1.37	)		(5.82	)		(1.02	)		(2.86	)		-			-			-
Impairment of deferred tax asset on cancelled non-qualified stock options		(.51	)		-			-			-			-			(.14	)		-			-			-			-
Dividend payout ratio - operating		20.00	%		20.51	%		19.44	%		21.21	%		18.18	%		20.27	%		17.32	%		9.91	%		-	%		-	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		57.65	%		60.78	%		59.02	%		61.94	%		68.97	%		59.80	%		63.96	%		58.26	%		63.14	%		65.43	%
Merger-related and other charges		(1.07	)		(2.99	)		(1.20	)		(2.84	)		(9.56	)		(2.02	)		(5.45	)		-			-			-
Efficiency ratio - operating		56.58	%		57.79	%		57.82	%		59.10	%		59.41	%		57.78	%		58.51	%		58.26	%		63.14	%		65.43	%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.35	%		10.38	%		10.72	%		10.72	%		10.68	%		10.54	%		10.27	%		9.69	%		10.35	%		8.47	%
Effect of goodwill and other intangibles		(1.31	)		(1.40	)		(1.29	)		(1.31	)		(1.28	)		(1.33	)		(.53	)		(.02	)		(.04	)		(.09	)
Tangible equity to assets		9.04			8.98			9.43			9.41			9.40			9.21			9.74			9.67			10.31			8.38
Effect of preferred equity		-			-			-			(.09	)		(.11	)		(.02	)		(.08	)		(.07	)		(2.76	)		(2.84	)
Tangible common equity to assets		9.04	%		8.98	%		9.43	%		9.32	%		9.29	%		9.19	%		9.66	%		9.60	%		7.55	%		5.54	%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		11.27	%		11.04	%		11.44	%		11.32	%		11.45	%		11.27	%		11.45	%		12.06	%		12.74	%		14.16	%
Effect of other comprehensive income		(.34	)		-			(.06	)		(.25	)		(.38	)		(.34	)		(.38	)		(.35	)		(.39	)		(.51	)
Effect of deferred tax limitation		1.27			1.50			1.63			1.85			2.05			1.27			2.05			3.11			4.26			-
Effect of trust preferred		(.25	)		(.26	)		(.08	)		(.08	)		(.08	)		(.25	)		(.08	)		(1.00	)		(1.04	)		(1.15	)
Effect of preferred equity		-			-			-			-			(.15	)		-			(.15	)		-			(2.39	)		(4.24	)
Basel III intangibles transition adjustment		(.06	)		(.06	)		(.06	)		(.07	)		(.10	)		(.06	)		(.10	)		-			-			-
Basel III disallowed investments		-			-			-			-			.03			-			.03			-			-			-
Tangible common equity to risk-weighted assets		11.89	%		12.22	%		12.87	%		12.77	%		12.82	%		11.89	%		12.82	%		13.82	%		13.18	%		8.26	%

⁽¹⁾ Fourth quarter 2016 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2016								2015		Linked			Year over
	Fourth		Third		Second		First		Fourth		Quarter			Year
(in millions)	Quarter		Quarter ⁽¹⁾		Quarter ⁽¹⁾		Quarter ⁽¹⁾		Quarter ⁽¹⁾		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,650	$	1,587	$	1,527	$	1,509	$	1,571	$	63		$	79
Income producing commercial RE		1,282		1,277		1,101		1,071		1,021		5			261
Commercial & industrial		1,070		994		925		854		785		76			285
Commercial construction		634		567		565		535		518		67			116
Total commercial		4,636		4,425		4,118		3,969		3,895		211			741
Residential mortgage		857		814		784		774		764		43			93
Home equity lines of credit		655		693		616		597		589		(38	)		66
Residential construction		190		200		170		167		176		(10	)		14
Consumer installment		583		593		599		599		571		(10	)		12
Total loans	$	6,921	$	6,725	$	6,287	$	6,106	$	5,995		196			926

LOANS BY MARKET
North Georgia	$	1,097	$	1,110	$	1,097	$	1,097	$	1,125		(13	)		(28	)
Atlanta MSA		1,399		1,332		1,314		1,257		1,259		67			140
North Carolina		545		548		543		543		549		(3	)		(4	)
Coastal Georgia		581		565		541		543		537		16			44
Gainesville MSA		248		236		240		248		254		12			(6	)
East Tennessee		504		506		509		495		504		(2	)		-
South Carolina		1,233		1,199		862		821		819		34			414
Specialized Lending		855		763		706		628		492		92			363
Indirect auto		459		466		475		474		456		(7	)		3
Total loans	$	6,921	$	6,725	$	6,287	$	6,106	$	5,995		196			926

⁽¹⁾ Certain prior period amounts have been reclassified to conform to the current presentation.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Year-End

(in millions)	2016		2015 ⁽¹⁾		2014 ⁽¹⁾		2013 ⁽¹⁾		2012 ⁽¹⁾
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,650	$	1,571	$	1,257	$	1,238	$	1,254
Income producing commercial RE		1,282		1,021		767		807		891
Commercial & industrial		1,070		785		710		471		456
Commercial construction		634		518		364		336		407
Total commercial		4,636		3,895		3,098		2,852		3,008
Residential mortgage		857		764		614		604		517
Home equity lines of credit		655		589		456		430		375
Residential construction		190		176		131		136		122
Consumer installment		583		571		373		307		153
Total loans	$	6,921	$	5,995	$	4,672	$	4,329	$	4,175

LOANS BY MARKET
North Georgia	$	1,097	$	1,125	$	1,163	$	1,240	$	1,364
Atlanta MSA		1,399		1,259		1,243		1,235		1,204
North Carolina		545		549		553		572		579
Coastal Georgia		581		537		456		423		400
Gainesville MSA		248		254		257		255		261
East Tennessee		504		504		280		280		283
South Carolina		1,233		819		30		4		-
Specialized Lending		855		492		421		124		46
Indirect auto		459		456		269		196		38
Total loans	$	6,921	$	5,995	$	4,672	$	4,329	$	4,175

⁽¹⁾ Certain prior period amounts have been reclassified to conform to the current presentation.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	Fourth Quarter 2016									Third Quarter 2016 ⁽²⁾									Second Quarter 2016 ⁽²⁾
	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	$	7,373		$	3,145		$	10,518		$	7,693		$	3,188		$	10,881		$	8,218		$	3,096		$	11,314
Income producing CRE		1,324			36			1,360			2,422			765			3,187			2,511			1,554			4,065
Commercial & industrial		966			-			966			1,079			-			1,079			949			-			949
Commercial construction		1,538			2,977			4,515			1,977			1,274			3,251			1,398			-			1,398
Total commercial		11,201			6,158			17,359			13,171			5,227			18,398			13,076			4,650			17,726
Residential mortgage		6,368			1,260			7,628			5,440			1,211			6,651			5,636			1,160			6,796
Home equity lines of credit		1,831			531			2,362			1,194			514			1,708			1,308			83			1,391
Residential construction		776			-			776			369			2,235			2,604			379			283			662
Consumer installment		1,363			-			1,363			1,398			-			1,398			949			-			949
Total NPAs	$	21,539		$	7,949		$	29,488		$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524

NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,278		$	856		$	6,134		$	5,356		$	653		$	6,009		$	6,219		$	1,086		$	7,305
Atlanta MSA		1,259			716			1,975			979			1,530			2,509			1,140			2,041			3,181
North Carolina		4,750			632			5,382			5,216			543			5,759			4,762			224			4,986
Coastal Georgia		1,778			-			1,778			1,606			47			1,653			1,186			168			1,354
Gainesville MSA		279			-			279			222			-			222			234			-			234
East Tennessee		2,354			675			3,029			3,281			160			3,441			3,616			247			3,863
South Carolina		2,494			5,070			7,564			2,015			6,254			8,269			1,271			2,410			3,681
Specialized Lending		2,072			-			2,072			1,597			-			1,597			2,108			-			2,108
Indirect auto		1,275			-			1,275			1,300			-			1,300			812			-			812
Total NPAs	$	21,539		$	7,949		$	29,488		$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524		$	22,419		$	5,163		$	27,582
Acquisitions		-			-			-			-			7,495			7,495			-			(497	)		(497	)
Loans placed on non-accrual		6,346			-			6,346			6,680			-			6,680			6,786			-			6,786
Payments received		(3,832	)		-			(3,832	)		(3,938	)		-			(3,938	)		(4,201	)		-			(4,201	)
Loan charge-offs		(1,293	)		-			(1,293	)		(1,236	)		-			(1,236	)		(1,803	)		-			(1,803	)
Foreclosures		(1,254	)		1,530			276			(1,282	)		2,335			1,053			(1,853	)		2,722			869
Capitalized costs		-			26			26			-			3			3			-			98			98
Property sales		-			(2,737	)		(2,737	)		-			(6,553	)		(6,553	)		-			(1,424	)		(1,424	)
Write downs		-			(254	)		(254	)		-			(53	)		(53	)		-			(73	)		(73	)
Net gains (losses) on sales		-			197			197			-			(216	)		(216	)		-			187			187
Ending Balance	$	21,539		$	7,949		$	29,488		$	21,572		$	9,187		$	30,759		$	21,348		$	6,176		$	27,524

	Fourth Quarter 2016						Third Quarter 2016 ⁽²⁾						Second Quarter 2016 ⁽²⁾
				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	$	1			-	%	$	46			.01	%	$	800			.21	%
Income producing CRE		527			.16			70			.02			81			.03
Commercial & industrial		(201	)		(.08	)		453			.18			(392	)		(.18	)
Commercial construction		241			.16			(194	)		(.13	)		(196	)		(.14	)
Total commercial		568			.05			375			.03			293			.03
Residential mortgage		322			.15			(47	)		(.02	)		489			.25
Home equity lines of credit		151			.09			267			.16			253			.17
Residential construction		(16	)		(.03	)		242			.51			210			.51
Consumer installment		514			.35			522			.34			485			.33
Total	$	1,539			.09		$	1,359			.08		$	1,730			.11

NET CHARGE-OFFS BY MARKET
North Georgia	$	575			.21	%	$	68			.02	%	$	428			.16	%
Atlanta MSA		12			-			398			.12			1			-
North Carolina		714			.52			329			.24			575			.43
Coastal Georgia		118			.08			432			.31			177			.13
Gainesville MSA		(32	)		(.05	)		15			.03			(87	)		(.14	)
East Tennessee		(139	)		(.11	)		(69	)		(.05	)		346			.28
South Carolina		(2	)		-			(66	)		(.02	)		49			.02
Specialized Lending		(21	)		(.01	)		69			.04			(18	)		(.01	)
Indirect auto		314			.27			183			.15			259			.22
Total	$	1,539			.09		$	1,359			.08		$	1,730			.11

⁽¹⁾ Annualized. ⁽²⁾ Certain prior period amounts have been reclassified to conform to the current presentation.

UNITED COMMUNITY BANKS, INC.

Consolidated Statement of Income (Unaudited)

	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
(in thousands, except per share data)	2016		2015		2016			2015

Interest revenue:
Loans, including fees	$	71,494	$	63,442	$	268,382		$	223,256
Investment securities, including tax exempt of $165, $189, $614 and $705		15,988		14,952		64,027			51,848
Deposits in banks and short-term investments		296		968		2,611			3,428
Total interest revenue		87,778		79,362		335,020			278,532

Interest expense:
Deposits:
NOW		522		426		1,903			1,505
Money market		1,321		1,006		4,982			3,466
Savings		33		27		135			98
Time		1,084		922		3,136			3,756
Total deposit interest expense		2,960		2,381		10,156			8,825
Short-term borrowings		121		85		399			364
Federal Home Loan Bank advances		945		436		3,676			1,743
Long-term debt		2,827		2,696		11,005			10,177
Total interest expense		6,853		5,598		25,236			21,109
Net interest revenue		80,925		73,764		309,784			257,423
Provision for credit losses		-		300		(800	)		3,700
Net interest revenue after provision for credit losses		80,925		73,464		310,584			253,723

Fee revenue:
Service charges and fees		10,653		11,500		42,113			36,825
Mortgage loan and other related fees		6,516		3,290		20,292			13,592
Brokerage fees		911		1,058		4,280			5,041
Gains from sales of government guaranteed loans		3,028		1,995		9,545			6,276
Securities gains, net		60		378		982			2,255
Loss from prepayment of debt		-		-		-			(1,294	)
Other		4,065		3,063		16,485			9,834
Total fee revenue		25,233		21,284		93,697			72,529
Total revenue		106,158		94,748		404,281			326,252

Operating expenses:
Salaries and employee benefits		35,677		32,939		138,789			116,688
Communications and equipment		4,753		4,735		18,355			15,273
Occupancy		5,210		4,666		19,603			15,372
Advertising and public relations		1,151		978		4,426			3,667
Postage, printing and supplies		1,353		1,293		5,382			4,273
Professional fees		2,773		3,331		11,822			10,175
FDIC assessments and other regulatory charges		1,413		1,463		5,866			5,106
Amortization of intangibles		1,066		1,041		4,182			2,444
Merger-related and other charges		1,141		9,078		8,122			17,995
Other		6,784		5,964		24,742			20,245
Total operating expenses		61,321		65,488		241,289			211,238
Net income before income taxes		44,837		29,260		162,992			115,014
Income tax expense		17,616		11,052		62,336			43,436
Net income		27,221		18,208		100,656			71,578
Preferred stock dividends and discount accretion		-		25		21			67
Net income available to common shareholders	$	27,221	$	18,183	$	100,635		$	71,511

Earnings per common share:
Basic	$	.38	$	.25	$	1.40		$	1.09
Diluted		.38		.25		1.40			1.09
Weighted average common shares outstanding:
Basic		71,641		72,135		71,910			65,488
Diluted		71,648		72,440		71,915			65,492

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheet (Unaudited)

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

ASSETS
Cash and due from banks	$	99,489		$	86,912
Interest-bearing deposits in banks		117,859			153,451
Cash and cash equivalents		217,348			240,363
Securities available for sale		2,432,438			2,291,511
Securities held to maturity (fair value $333,170 and $371,658)		329,843			364,696
Mortgage loans held for sale (includes $27,891 and $0 at fair value)		29,878			24,231
Loans, net of unearned income		6,920,636			5,995,441
Less allowance for loan losses		(61,422	)		(68,448	)
Loans, net		6,859,214			5,926,993
Premises and equipment, net		189,938			178,165
Bank owned life insurance		143,543			105,493
Accrued interest receivable		28,018			25,786
Net deferred tax asset		154,336			197,613
Derivative financial instruments		23,688			20,082
Goodwill and other intangible assets		156,222			147,420
Other assets		144,189			94,075
Total assets	$	10,708,655		$	9,616,428
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,637,004		$	2,204,755
NOW		1,989,763			1,975,884
Money market		1,846,440			1,599,637
Savings		549,713			471,129
Time		1,287,142			1,282,803
Brokered		327,496			338,985
Total deposits		8,637,558			7,873,193
Short-term borrowings		5,000			16,640
Federal Home Loan Bank advances		709,209			430,125
Long-term debt		175,078			163,836
Derivative financial instruments		27,648			28,825
Accrued expenses and other liabilities		78,427			85,524
Total liabilities		9,632,920			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;
70,899,114 and 66,198,477 shares issued and outstanding		70,899			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; 519,874 and 458,953 shares		7,327			6,779
Capital surplus		1,275,849			1,286,361
Accumulated deficit		(251,857	)		(330,879	)
Accumulated other comprehensive loss		(26,483	)		(25,452	)
Total shareholders' equity		1,075,735			1,018,285
Total liabilities and shareholders' equity	$	10,708,655		$	9,616,428

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended December 31,

	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⁾	$	6,814,114		$	71,522		4.18	%	$	5,975,491		$	63,509			4.22	%
Taxable securities ⁽³⁾		2,664,395			15,823		2.38			2,575,846			14,763			2.29
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		25,735			270		4.20			30,748			309			4.02
Federal funds sold and other interest-earning assets		160,391			430		1.07			210,341			1,065			2.03

Total interest-earning assets (FTE)		9,664,635			88,045		3.63			8,792,426			79,646			3.60
Non-interest-earning assets:
Allowance for loan losses		(62,767	)							(69,743	)
Cash and due from banks		101,006								88,057
Premises and equipment		189,719								192,040
Other assets ⁽³⁾		591,491								554,974
Total assets	$	10,484,084							$	9,557,754

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,920,124			522		.11		$	1,865,305			426			.09
Money market		2,058,589			1,321		.26			1,897,364			1,006			.21
Savings		544,490			33		.02			465,993			27			.02
Time		1,317,794			813		.25			1,317,770			1,007			.30
Brokered time deposits		103,577			271		1.04			258,698			(85	)		(.13	)
Total interest-bearing deposits		5,944,574			2,960		.20			5,805,130			2,381			.16

Federal funds purchased and other borrowings		51,224			121		.94			40,148			85			.84
Federal Home Loan Bank advances		476,698			945		.79			191,484			436			.90
Long-term debt		175,018			2,827		6.43			165,620			2,696			6.46
Total borrowed funds		702,940			3,893		2.20			397,252			3,217			3.21

Total interest-bearing liabilities		6,647,514			6,853		.41			6,202,382			5,598			.36
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,607,878								2,223,011
Other liabilities		143,609								111,757
Total liabilities		9,399,001								8,537,150
Shareholders' equity		1,085,083								1,020,604
Total liabilities and shareholders' equity	$	10,484,084							$	9,557,754

Net interest revenue (FTE)				$	81,192							$	74,048
Net interest-rate spread (FTE)							3.22	%								3.24	%

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

⁽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 $18.6 million in 2016 and $7.45 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 Twelve Months Ended December 31,

	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⁾	$	6,412,740		$	268,478			4.19	%	$	5,297,687		$	223,713			4.22	%
Taxable securities ⁽³⁾		2,665,051			63,413			2.38			2,342,533			51,143			2.18
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		26,244			1,005			3.83			25,439			1,154			4.54
Federal funds sold and other interest-earning assets		152,722			3,149			2.06			168,494			3,799			2.25

Total interest-earning assets (FTE)		9,256,757			336,045			3.63			7,834,153			279,809			3.57
Non-interest-earning assets:
Allowance for loan losses		(65,294	)								(71,001	)
Cash and due from banks		95,613									81,244
Premises and equipment		187,698									174,835
Other assets ⁽³⁾		579,051									442,878
Total assets	$	10,053,825								$	8,462,109

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,826,729			1,903			.10		$	1,563,911			1,505			.10
Money market		1,941,288			4,982			.26			1,678,765			3,466			.21
Savings		515,179			135			.03			372,414			98			.03
Time		1,289,876			3,138			.24			1,269,360			4,823			.38
Brokered time deposits		171,420			(2	)		.00			269,162			(1,067	)		(.40	)
Total interest-bearing deposits		5,744,492			10,156			.18			5,153,612			8,825			.17

Federal funds purchased and other borrowings		34,906			399			1.14			49,301			364			.74
Federal Home Loan Bank advances		499,026			3,676			.74			250,404			1,743			.70
Long-term debt		170,479			11,005			6.46			139,979			10,177			7.27
Total borrowed funds		704,411			15,080			2.14			439,684			12,284			2.79

Total interest-bearing liabilities		6,448,903			25,236			.39			5,593,296			21,109			.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,432,846									1,901,521
Other liabilities		112,774									97,890
Total liabilities		8,994,523									7,592,707
Shareholders' equity		1,059,302									869,402
Total liabilities and shareholders' equity	$	10,053,825								$	8,462,109

Net interest revenue (FTE)				$	310,809								$	258,700
Net interest-rate spread (FTE)								3.24	%								3.19	%

Net interest margin (FTE) ⁽⁴⁾								3.36	%								3.30	%

⁽¹⁾

⁽²⁾

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

⁽³⁾

Securities available for sale are shown at amortized cost. Pretax unrealized gains of $16.0 million in 2016 and $11.4 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 Fourth Quarter 2016 January 25, 2017

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 • 139 locations • 1,961 employees Market Data Ticker UCBI Price (as of 1/20/2017) $27.90 Market Cap $2.0B P/E (2017e) 17.8x P/TBV 215% Avg. Daily Vol. (LTM) 537,000 Institutional Ownership 87.2% Quarterly Dividend (4Q16) $0.08 Fourth Quarter 2016 Assets $10.7B Loans $6.9B Deposits $8.6B EPS – GAAP $0.38 EPS – Operating $0.40 Total RBC 12.1% CET1 11.3% NPAs/Assets 0.28% ROA – GAAP 1.03% ROA – Operating 1.10% ROCE – GAAP 9.89% ROTCE – Operating 12.47% 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 Fourth Quarter 2016 Highlights ucbi.com | 5 $21.3 $18.6 $23.5 $26.4 $25.2 $12 $16 $20 $24 $28 4Q15 1Q16 2Q16 3Q16 4Q16 Fee Revenue in millions 7.02% 8.57% 9.54% 9.61% 9.89% 10.87% 10.91% 11.56% 12.45% 12.47% 5.00% 7.00% 9.00% 11.00% 13.00% 4Q15 1Q16 2Q16 3Q16 4Q16 Return on (Tangible) Common Equity ROCE - GAAP ROTCE - Operating (1) $73.8 $75.0 $74.9 $79.0 $80.9 $65 $70 $75 $80 $85 4Q15 1Q16 2Q16 3Q16 4Q16 Net Interest Revenue in millions $0.25 $0.31 $0.35 $0.36 $0.38 $0.33 $0.33 $0.36 $0.39 $0.40 $0.24 $0.28 $0.32 $0.36 $0.40 4Q15 1Q16 2Q16 3Q16 4Q16 Earnings Per Share GAAP Operating (1) .76% .93% 1.04% 1.00% 1.03% .99% 1.00% 1.07% 1.08% 1.10% 0.70% 0.80% 0.90% 1.00% 1.10% 4Q15 1Q16 2Q16 3Q16 4Q16 Return on Assets GAAP Operating (1) 3.34% 3.41% 3.35% 3.34% 3.34% 3.25% 3.30% 3.35% 3.40% 3.45% 4Q15 1Q16 2Q16 3Q16 4Q16 Net Interest Margin (fully taxable equivalent) 1.14% 1.09% 1.02% 0.94% 0.89% 0.80% 0.90% 1.00% 1.10% 1.20% 4Q15 1Q16 2Q16 3Q16 4Q16 Allowance as % of Total Loans 0.29% 0.28% 0.28% 0.30% 0.28% 0.10% 0.20% 0.30% 0.40% 0.50% 4Q15 1Q16 2Q16 3Q16 4Q16 Non - Performing Assets as % of Total Assets 0.09% 0.14% 0.11% 0.08% 0.09% 0.00% 0.10% 0.20% 0.30% 0.40% 4Q15 1Q16 2Q16 3Q16 4Q16 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 Tidelands as of the acquisition date of July 1, 2016 ucbi.com | 6 Fourth Quarter 2016 Highlights EARNINGS SUMMARY ($ in thousands) Net Income Available to Common Shareholders - GAAP 18,183$ 22,274$ 25,266$ 25,874$ 27,221$ 1,347$ 9,038$ Net Income Available to Common Shareholders - Operating (1) 23,775 23,923 25,997 27,833 28,906 1,073 5,131 Net Interest Revenue 73,764 74,952 74,918 78,989 80,925 1,936 7,161 Fee Revenue 21,284 18,606 23,497 26,361 25,233 (1,128) 3,949 Expenses - GAAP 65,488 57,885 58,060 64,023 61,321 (2,702) (4,167) Expenses - Operating (1) 56,410 55,232 56,884 60,871 60,180 (691) 3,770 PER SHARE DATA Diluted EPS - GAAP 0.25$ 0.31$ 0.35$ 0.36$ 0.38$ 0.02$ 0.13$ Diluted EPS - Operating (1) 0.33 0.33 0.36 0.39 0.40 0.01 0.07 Book Value per Share 14.02 14.35 14.80 15.12 15.06 (0.06) 1.04 Tangible Book Value per Share 12.06 12.40 12.84 13.00 12.95 (0.05) 0.89 KEY OPERATING PERFORMANCE MEASURES Return on Assets - GAAP 0.76 % 0.93 % 1.04 % 1.00 % 1.03 % 0.03 % 0.27 % Return on Assets - Operating (1) 0.99 1.00 1.07 1.08 1.10 0.02 0.11 Return on Common Equity - GAAP 7.02 8.57 9.54 9.61 9.89 0.28 2.87 Return on Tangible Common Equity - Operating (1) 10.87 10.91 11.56 12.45 12.47 0.02 1.60 Net Interest Margin (fully taxable equivalent) 3.34 3.41 3.35 3.34 3.34 - - Efficiency Ratio - GAAP 68.97 61.94 59.02 60.78 57.65 (3.13) (11.32) Efficiency Ratio - Operating (1) 59.41 59.10 57.82 57.79 56.58 (1.21) (2.83) ASSET QUALITY Allowance for Loan Losses to Loans 1.14 % 1.09 % 1.02 % 0.94 % 0.89 % (0.05) % (0.25) % NPAs to Loans and Foreclosed Properties 0.46 0.45 0.44 0.46 0.43 (0.03) (0.03) NPAs to Total Assets 0.29 0.28 0.28 0.30 0.28 (0.02) (0.01) AT PERIOD END ($ in millions) Loans 5,995$ 6,106$ 6,287$ 6,725$ 6,921$ 196$ 926$ Investment Securities 2,656 2,757 2,677 2,560 2,762 202 106 Total Assets 9,616 9,781 9,928 10,298 10,709 411 1,093 Deposits 7,873 7,960 7,857 8,442 8,638 196 765 2015 4Q 1Q (3) 4Q 2016 3Q16 4Q15 Variance - Incr / (Decr) 3Q 2Q

ucbi.com | 7 Fourth Quarter 2016 Highlights ucbi.com | 7 (in millions) 4Q16 3Q16 4Q15 Net Income ($ in millions) GAAP $ 27.2 $ 25.9 $ 18.2 Operating (1) 28.9 27.8 23.8 EPS GAAP .38 .36 .25 Operating (1) .40 .39 .33 ROA GAAP 1.03 1.00 0.76 Operating (1) 1.10 1.08 0.99 ROCE GAAP 9.89 9.61 7.02 ROTCE Operating (1) 12.47 12.45 10.87 Protecting High - Quality Balance Sheet (1) Asset Quality ► Top - Quartile Credit Quality Performance ● No provision compared with a recovery of $300 thousand in 3Q16 and provision of $300 thousand in 4Q15 ● Net charge - offs to loans of 0.09% - increased 1bp from 3Q16 and unchanged from 4Q15 ● NPAs were 0.28% of total assets compared with 0.30% in 3Q16 and 0.29% in 4Q15 ● Allowance was 0.89% of total loans compared with 0.94% at 3Q16 and 1.14% at 4Q15 Capital Management ► Solid and Well - Capitalized Regulatory Capital Ratios ● Tier I Common to Risk Weighted Assets of 11.3% and Tier I Leverage of 8.5% ● Tier I Risk Based Capital of 11.3% and Total Risk Based Capital of 12.1% ► Committed to Returning Value to Shareholders While Balancing Reinvestment in United ● Quarterly dividend of $0.08 in 4Q16 and 3Q16 and $0.07 per share in 2Q16 and 1Q16 compared with $0.06 in 4Q15 ● Dividend payout ratio of 21.1% in 4Q16 compared with 22.2% in 3Q16 and 24.0% in 4Q15; on an operating basis, the dividend payout ratio was 20.0%, 20.5% and 18.2%, respectively ● Stock repurchases to - date of $13.6 million (764,000 shares / average price of $17.85 per share) – authorized $50 million (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 Fourth Quarter 2016 Highlights ucbi.com | 8 Increasing Profitability Net Interest Revenue ► $80.9 Million – Increased from 3Q16 and from 4Q15 ● Increased $1.9 million from 3Q16 and $7.2 million from 4Q15 ● Average loans increased to $6.81 billion in 4Q16 from $6.68 billion in 3Q16 and $5.98 billion in 4Q15 ● Average investment securities increased to $2.69 billion in 4Q16 from $2.61 billion in 3Q16 and 4Q15 Taxable Equivalent Net Interest Margin ► 3.34% - Unchanged from 3Q16 and 4Q15 ● Loan yield increased to 4.18% in 4Q16 from 4.14% in 3Q16 and decreased from 4.22% in 4Q15 o Decline from 4Q15 due to pricing pressures and higher mix of floating - rate loans o Linked quarter increase due to rising short - term interest rates ● Investment securities yield increased to 2.39% in 4Q16 from 2.38% in 3Q16 and 2.31% in 4Q15 ● Funding costs increased to 0.41% in 4Q16 from 0.39% in 3Q16 and 0.36% in 4Q15 Fee Revenue ► $25.2 Million – Fee Revenue Expansion Focus Through Targeted Growth Initiatives ● Decreased $1.1 million from 3Q16 and increased $3.9 million from 4Q15 ● Linked quarter growth in gains from sales of SBA government guaranteed loans of $549 thousand and mortgage loan and related fees of $477 thousand offset partially by a decline of $1.5 million in other fee revenue due primarily to lower customer derivative and merchant services fees. ● Year - over - year growth in gains from the sales of SBA government guaranteed loans of $1.0 million, mortgage loan and related fees of $3.2 million and other fee revenue of $1.0 million.

ucbi.com | 9 Fourth Quarter 2016 Highlights ucbi.com | 9 Generating Growth Loan Growth ► $6.92 Billion - Well - Diversified Loan Portfolio ● Increased $196 million from 3Q16, or 12% annualized and $619 million from 4Q15, or 10% ( excluding mergers) ● Strong loan production of $747 million vs. $641 million in 3Q16 and $590 million in 4Q15 Core Transactio n Deposits ► $5.9 Billion – Solid Low - Cost Core Transaction Deposits ● Increased $62 million from 3Q16, or 4% annualized, and $489 million from 4Q15, or 9%, 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 completed in 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 was immediately accretive to operating earnings

ucbi.com | 10 99 100 107 108 110 110 90 95 100 105 110 4Q15 1Q16 2Q16 3Q16 4Q16 Target 4Q16 x 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 1.3$ 2.1$ 1.7$ 1.4$ 1.5$ as % of Average Loans 0.09 % 0.14 % 0.11 % 0.08 % 0.09 % Allowance for Loan Losses 68.4$ 66.3$ 64.3$ 63.0$ 61.4$ as % of Total Loans 1.14 % 1.09 % 1.02 % 0.94 % 0.89 % as % of NPLs 302 296 301 292 285 Past Due Loans (30 - 89 Days) 0.26 % 0.21 % 0.22 % 0.33 % 0.25 % Non-Performing Loans 22.6$ 22.4$ 21.3$ 21.6$ 21.5$ OREO 4.9 5.2 6.2 9.2 8.0 Total NPAs 27.5 27.6 27.5 30.8 29.5 Performing Classified Loans 127.5 121.1 118.5 121.6 114.3 Total Classified Assets 155.0$ 148.7$ 146.0$ 152.4$ 143.8$ as % of Tier 1 / Allowance 17 % 16 % 15 % 15 % 14 % Accruing TDRs 83.0$ 72.8$ 73.3$ 70.1$ 67.8$ Total NPAs as % of Total Assets 0.29 0.28 0.28 0.30 0.28 as % of Loans & OREO 0.46 0.45 0.44 0.46 0.43 4Q15 1Q16 2Q16 3Q16 4Q16 $ in millions ucbi.com | 11

ucbi.com | 12 Protecting High - Quality Balance Sheet Prudent Capital Management ucbi.com | 12 Holding Company 4Q16 3Q16 2Q16 1Q16 4Q15 Tier I Risk - Based Capital 11.3% 11.0% 11.4% 11.3% 11.5% Total Risk - Based Capital 12.1 11.9 12.4 12.3 12.5 Leverage 8.5 8.4 8.5 8.4 8.3 Tier I Common Risk - Based Capital 11.3 11.0 11.4 11.3 11.5 Tangible Common Equity to Risk - Weighted Assets 11.9 12.2 12.9 12.8 12.8 Average Tangible Equity to Average Assets 9.0 9.0 9.4 9.4 9.4 ► All regulatory capital ratios significantly above “well - capitalized” ► Stock repurchases of $13.6 million through September 30, 2016 (764,000 shares / average price of $17.85 per share); None in 4Q16 ► Paid fourth quarter shareholder dividend of $0.08 per share on January 5, 2017 to shareholders of record on December 15, 2016; Up $0.02 per share from 4Q15 ► 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 $98.5 million of future DTA recovery driving regulatory capital growth

ucbi.com | 13 $73.8 $75.0 $74.9 $79.0 $80.9 $56.4 $55.2 $56.9 $60.9 $60.2 $38.6 $38.3 $41.5 $44.5 $46.0 $21.3 $18.6 $23.5 $26.4 $25.2 $10 $20 $30 $40 $50 $60 $70 $80 $90 4Q15 1Q16 2Q16 3Q16 4Q16 Net Interest Revenue Expenses - Operating (1) Pre-Tax, Pre-Credit Earnings (1) Fee Revenue Increasing Profitability Earnings, Fee Revenue, and Expenses ucbi.com | 13 4Q16 3Q16 4Q15 Salaries & Employee Benefits 35,677$ (801)$ 2,738$ Communications & Equipment 4,753 (166) 18 Occupancy 5,210 78 544 FDIC Assessment 1,413 1 (50) Advertising & Public Relations 1,151 63 173 Postage, Printing & Supplies 1,353 (98) 60 Professional Fees 2,773 (387) (558) Other Expense 7,850 619 845 Expenses - Operating (1) 60,180 (691) 3,770 Merger-Related and Other Charges 1,141 (2,011) (7,937) Expenses - GAAP 61,321$ (2,702)$ (4,167)$ Variance - Incr/(Decr) 4Q16 3Q16 4Q15 Overdraft Fees 3,545$ (103)$ (327)$ Interchange Fees 5,250 (33) (195) Other Service Charges 1,858 (30) (325) Total Service Charges and Fees 10,653 (166) (847) Mortgage Loan & Related Fees 6,516 477 3,226 Brokerage Fees 911 (288) (147) Gains from SBA Loan Sales 3,028 549 1,033 Securities Gains, Net 60 (201) (318) Other 4,065 (1,499) 1,002 Fee Revenue 25,233$ (1,128)$ 3,949$ Variance - Incr/(Decr) 4Q16 3Q16 4Q15 Net Interest Revenue 80,925$ 1,936$ 7,161$ Fee Revenue 25,233 (1,128) 3,949 Gross Revenue 106,158 808 11,110 Expenses - Operating (1) 60,180 (691) 3,770 Pre-Tax, Pre-Credit Earnings (1) 45,978 1,499 7,340 Merger-Related and Other Charges (1,141) (2,011) (7,937) Provision for Credit Losses - 300 (300) Income Taxes (17,616) 1,863 6,564 Net Income - GAAP 27,221$ 1,347$ 9,013$ Net Interest Margin 3.34 % - % - % (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 Fee Revenue ucbi.com | 14 Driving Fee Revenue Through Core Banking Infrastructure 11.5 10.1 10.5 10.8 10.7 3.4 2.9 4.6 5.8 4.1 1.1 1.1 1.1 1.2 0.9 3.3 3.3 4.5 6.1 6.5 2.0 1.2 2.8 2.5 3.0 $21.3 $18.6 $23.5 $26.4 $25.2 $0 $5 $10 $15 $20 $25 $30 4Q15 1Q16 2Q16 3Q16 4Q16 Fee Revenue in millions Service Charges Other Brokerage Mortgage SBA $3.3 $3.3 $4.5 $6.0 $6.5 $0 $1 $2 $3 $4 $5 $6 $7 4Q15 1Q16 2Q16 3Q16 4Q16 Mortgage Fees and Production in millions $138 $146 $182 $194 $194 $- $50 $100 $150 $200 SBA ► 4Q16 Sales $41 million ► 2016 Sales $120 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 $2.0 $1.2 $2.8 $2.5 $3.0 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 4Q15 1Q16 2Q16 3Q16 4Q16 SBA Fees (Gains ) and Production in millions $28 $28 $45 $37 $55 $- $10 $20 $30 $40 $50 $60 Mortgage Fees SBA Fees ----- SBA Production ----- Mortgage Production

ucbi.com | 15 Increasing Profitability ucbi.com | 15 Expense Discipline ► Efficiency improvements are attributable to various expense reduction initiatives while maintaining high business growth ► Declining trend sustained while making substantial investments in growth and infrastructure 2012 2013 2014 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 TGT GAAP 65.4% 63.1% 58.3% 59.2% 61.6% 64.7% 69.0% 61.9% 59.0% 60.8% 57.7% Non-GAAP Adjustments 0.0% 0.0% 0.0% 0.0% 4.0% 6.8% 9.6% 2.8% 1.2% 3.0% 1.1% Operating 65.4% 63.1% 58.3% 59.2% 57.6% 57.8% 59.4% 59.1% 57.8% 57.8% 56.6% 57.0% 56.6% 57.0% 50.0% 55.0% 60.0% 65.0% 70.0% x 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 | 16 $73.8 $75.0 $74.9 $79.0 $80.9 $40 $50 $60 $70 $80 $90 4Q15 1Q16 2Q16 3Q16 4Q16 4.22% 4.14% 4.18% 2.29% 2.36% 2.38% 0.16% 0.17% 0.20% 0% 1% 2% 3% 4% 5% 4Q15 1Q16 2Q16 3Q16 4Q16 0.16% 0.15% 0.24% 0.21% 0.27% 0.26% 0.09% 0.10% 0.11% .00% .05% .10% .15% .20% .25% .30% 4Q15 1Q16 2Q16 3Q16 4Q16 3.34% 3.41% 3.35% 3.34% 3.34% 3.00% 3.25% 3.50% Increasing Profitability Key Drivers of Net Interest Revenue / Margin ucbi.com | 16 Net Interest Revenue Key Drivers Net Interest Revenue & Margin (1) 3Q16 Impacted By NET INTEREST REVENUE ► Tidelands acquisition on July 1, 2016 ► Margin steady; Continued loan pricing pressures offset by benefit of rising short - term interest rates Millions Loan / Securities / Deposit Yields 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 | 17 Generating Growth New Loans Funded and Advances (1) $ in millions ucbi.com | 17 4Q16 3Q16 4Q15 3Q16 4Q15 Commercial & Industrial 168.0$ 140.0$ 160.5$ 28.0$ 7.5$ Owner-Occupied CRE 139.5 92.8 85.9 46.7 53.6 Income-Producing CRE 160.4 148.0 102.2 12.4 58.2 Commercial Constr. 10.7 45.7 41.3 (35.0) (30.6) Total Commercial 478.6 426.5 389.9 52.1 88.7 Residential Mortgage 68.7 39.8 31.8 28.9 36.9 Residential HELOC 60.6 66.4 41.0 (5.8) 19.6 Residential Construction 83.7 46.7 33.2 37.0 50.5 Consumer 55.7 61.4 94.1 (5.7) (38.4) Total 747.3$ 640.8$ 590.0$ 106.5$ 157.3$ Variance-Incr(Decr) NOTE - Certain prior period amounts have been reclassified to conform to the current presentation (1) Represents new loans funded and net loan advances (net of payments on lines of credit) New Loans Funded and Advances $590.0 $562.3 $662.0 $640.8 $747.3 $500 $600 $700 $800 4Q15 1Q16 2Q16 3Q16 4Q16 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 4Q16 3Q16 4Q15 3Q16 4Q15 Atlanta 143.6$ 110.6$ 94.7$ 33.0$ 48.9 Coastal Georgia 34.4 53.6 59.2 (19.2) (24.8) North Georgia 74.4 71.0 61.0 3.4 13.4 North Carolina 36.1 35.4 27.6 .7 8.5 Tennessee 34.6 35.1 27.3 (.5) 7.3 Gainesville 20.3 9.8 21.5 10.5 (1.2) South Carolina 146.3 120.4 68.3 25.9 78.0 Total Community Banks 489.7 435.9 359.6 53.8 130.1 Asset-based Lending 38.0 9.7 18.4 28.3 19.6 Commercial RE 48.3 37.8 47.5 10.5 0.8 Senior Care 17.4 4.8 - 12.6 17.4 Middle Market 32.8 51.6 48.2 (18.8) (15.4) SBA 54.7 37.0 24.1 17.7 30.6 Builder Finance 24.9 25.2 19.2 (0.3) 5.7 Total Specialized Lending 216.1 166.1 157.4 50.0 58.7 Indirect Auto 41.5 38.8 73.0 2.7 (31.5) Total 747.3$ 640.8$ 590.0$ 106.5$ 157.3$ Variance-Incr(Decr)

ucbi.com | 18 2012 2013 2014 2015 2016 North Georgia 1,364$ 1,240$ 1,163$ 1,125$ 1,097$ Atlanta MSA 1,204 1,235 1,243 1,259 1,399 North Carolina 579 572 553 549 545 Coastal Georgia 400 423 456 537 581 Gainesville MSA 261 255 257 254 248 East Tennessee (1) 283 280 280 504 504 South Carolina (2) - 4 30 819 1,233 Total Community Banks 4,091 4,009 3,982 5,047 5,607 Specialized Lending 46 124 421 492 855 Indirect Auto (3) 38 196 269 456 459 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,921$ Generating Growth Loan Mix $4.18 $4.33 $4.67 $6.00 $6.92 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 2012 2013 2014 2015 2016 Billions Commercial Construction Income-Producing Commercial Real Estate Owner-Occupied Commercial Real Estate Commercial & Industrial Indirect Auto Residential HELOC Residential Mortgage Residential Construction Consumer Commercial Retail 2012 2013 2014 2015 2016 Commercial & Industrial 456$ 471$ 710$ 785$ 1,070$ Owner-Occupied CRE 1,254 1,238 1,257 1,571 1,650 Income-Producing CRE 891 807 767 1,021 1,282 Commercial Constr. 407 336 364 518 634 Total Commercial 3,008 2,852 3,098 3,895 4,636 Residential Mortgage 517 604 614 764 857 Residential HELOC 375 430 456 589 655 Residential Construction 122 136 131 176 190 Consumer 115 111 104 115 124 Indirect Auto 38 196 269 456 459 Total Loans 4,175$ 4,329$ 4,672$ 5,995$ 6,921$ 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 NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation

ucbi.com | 19 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Non-Interest Bearing Core Demand Deposit 232$ 123$ 161$ 618$ 334$ Demand Deposit 1,188$ 1,311$ 1,471$ 2,089$ 2,423$ NOW (65) 4 9 441 5 MMDA 115 73 41 325 246 Interest Bearing Core Savings 29 24 41 177 79 Total CommercialNOW 654 659 668 1,109 1,114 Growth by Category 311$ 224$ 252$ 1,561$ 664$ MMDA 1,145 1,218 1,259 1,584 1,830 Savings 226 250 292 469 548 Atlanta MSA 160$ 75$ 84$ 223$ 168$ Total Interest Bearing Core 2,025 2,127 2,219 3,162 3,492 North Georgia 41 62 90 158 133 North Carolina 47 42 35 63 62 Total Core Trans Deposits 3,213 3,438 3,690 5,251 5,915 Coastal Georgia 38 2 22 24 16 East Tennessee (1) 9 4 8 234 (16) Time (Customer) 1,724 1,445 1,223 1,251 1,267 Gainesville MSA 16 19 10 34 48 Public Funds (Customer) 770 894 989 1,032 1,128 South Carolina (2) - 20 3 825 253 Brokered 245 412 425 339 328 Growth by Region 311$ 224$ 252$ 1,561$ 664$ Total LoansTotal Deposits 5,952$ 6,189$ 6,327$ 7,873$ 8,638$ Generating Growth Customer Deposit Mix $5.71 $5.78 $5.90 $7.53 $8.31 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 2012 2013 2014 2015 2016 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 $3.49 $1.19 $1.31 $1.47 $2.09 $2.42 - $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2012 2013 2014 2015 2016 in billions Non-Interest Bearing Core Transaction Interest Bearing Core Transaction $3.21 $3.44 $3.69 $5.25 $5.91 ucbi.com | 20 High - Quality, Low - Cost Core Transaction Deposit Base 0.50% 0.17% 0.18% 0.00% 0.25% 0.50% 0.75% 1.00% 2012 2013 2014 2015 2016 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 completed on 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 (completed 4Q16) • 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 • 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 Fourth Quarter 2016

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 ► Achieved 1.10% ROA (operating) target in 4Q16, up from 0.99% in 4Q15 ► 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, asset - based, middle - market, SBA, senior living, builder finance) and actively pursuing additional lending 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 $ 268M • House Lending Limit 28M • Project Lending Limit 17M • Top 25 Relationships 397M 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 Diversification 11% 21% 30% 3% 10% 21% 4% $4.2 Billion Loan Portfolio as of 12/31/2012 Commercial (C&I) CRE Income Producing CRE Owner-Occupied Residential Construction Commercial Construction Residential Mortgage & HELOC Installment 15% 19% 24% 9% 3% 22% 8% $6.9 Billion Loan Portfolio as of 12/31/2016 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 $855 million at December 31, 2016 (12% of the loan portfolio). NOTE – Certain prior period amounts have been reclassified to conform to the current presentation

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% CBSH BOH UMPQ CVBF WABC VLY BPFH CBU PB OZRK UCBI PNFP COLB CFR EWBC UMBF BKU WTFC MBFI ISBC SBNY WAFD HOPE CATY FFIN WBS WAL PFS FNB BXS SNV BRKL FHN STBA FMBI STL FULT FCF BOKF GBCI UBSI PACW TCBI TRMK ASB TCB ONB HBHC BPOP 3Q16 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 4Q15 1Q16 2Q16 3Q16 4Q16 Commercial & Industrial 6$ 9$ 9$ 10$ 9$ Owner-Occupied CRE 45 38 38 42 42 Total Commercial & Industrial 51 47 47 52 51 Income-Producing CRE 38 38 35 32 29 Commercial Construction 8 5 6 9 9 Total Commercial 97 90 88 93 89 Residential Mortgage 18 20 20 18 15 Residential HELOC 7 6 6 5 5 Residential Construction 4 3 3 4 3 Consumer / Installment 2 2 2 2 2 Total Performing Classified 128$ 121$ 119$ 122$ 114$ Classified to Tier 1 + ALL 17% 16% 15% 15% 14% $128 $121 $119 $122 $114 $110 $130 $150 4Q15 1Q16 2Q16 3Q16 4Q16 NOTE - Certain prior period amounts have been reclassified to conform to the current presentation

ucbi.com | 28 $83.0 $72.8 $73.3 $70.1 $67.8 $60 $70 $80 $90 4Q15 1Q16 2Q16 3Q16 4Q16 Protecting High - Quality Balance Sheet TDRs ucbi.com | 28 $ in millions LOAN TYPE 4Q16(1) 3Q16 4Q15 4Q16(1) 3Q16 4Q15 4Q16(1) 3Q16 4Q15 Commercial & Industrial 1.3$ 1.8$ 2.8$ 0.1$ -$ -$ 1.4$ 1.8$ 2.8$ Owner-Occupied CRE 24.5 25.0 32.3 1.7 2.2 1.3 26.2 27.2 33.6 Income-Producing CRE 23.6 24.2 18.7 .1 .1 .4 23.7 24.3 19.1 Commercial Construction 4.1 4.5 14.3 .9 .9 .3 5.0 5.4 14.6 Total Commercial 53.5 55.5 68.1 2.8 3.2 2.0 56.3 58.7 70.1 Residential Mortgage 11.8 12.4 12.4 1.9 1.5 1.4 13.7 13.9 13.8 Residential HELOC .1 .1 .2 - - - 0.1 0.1 0.2 Residential Construction 1.4 1.2 1.4 .2 .2 - 1.6 1.4 1.4 Consumer / Installment 1.0 .9 .9 .4 .4 .2 1.4 1.3 1.1 Total TDRs 67.8$ 70.1$ 83.0$ 5.3$ 5.3$ 3.6$ 73.1$ 75.4$ 86.6$ Accruing Non-Accruing Total TDRs Accruing TDRs ► 3.2% of accruing TDRs are past due 30 – 89 days ► 63.5% of accruing TDRs are pass credits NOTE - Certain prior period amounts have been reclassified to conform to the current presentation (1) 87% of accruing TDR loans have an interest rate of 4% or greater LG45

ucbi.com | 29 Protecting High - Quality Balance Sheet Commercial Real Estate Diversification ucbi.com | 29 Retail Building 146$ 14.1 % 79$ 12.5 % Multi-Residential 120 11.5 81 12.8 Office Buildings 108 10.4 53 8.4 Assisted Living/Nursing Home/Rehab 87 8.4 13 2.0 Commercial Residential CIP: Spec 86 8.3 58 9.1 Land Develop - Vacant (Improved) 72 6.9 58 9.1 Commercial Residential Land Development: Builder Lots 66 6.4 64 10.1 Other Properties 61 5.9 37 5.8 Hotels / Motels 60 5.8 20 3.1 Raw Land - Vacant (Unimproved) 42 4.0 33 5.2 Commercial Residential CIP: Presold 37 3.6 22 3.5 Commercial Residential Land Development: Subdivisions in 32 3.1 27 4.3 Warehouse 31 3.0 24 3.8 Commercial Land Development 26 2.5 24 3.8 Churches 26 2.5 11 1.7 Commercial Residential Raw Land 20 1.9 17 2.7 Restaurants / Franchise 15 1.4 10 1.6 Leasehold Property 3 0.3 3 0.5 Total Commercial Construction 1,038$ 100.0 % 634$ 100.0 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Retail Building 332$ 24.5 % 313$ 24.4 % Office Buildings 309 22.8 297 23.2 Investor Residential 183 13.5 182 14.2 Warehouse 125 9.2 117 9.1 Hotels / Motels 106 7.8 95 7.4 Multi-Residential 94 6.9 86 6.7 Other Properties 69 5.1 55 4.3 Convenience Stores 46 3.4 44 3.4 Restaurants / Franchise Fast Food 34 2.5 34 2.7 Manufacturing Facility 24 1.8 24 1.9 Leasehold Property 17 1.2 17 1.3 Automotive Service 6 0.4 6 0.5 Daycare Facility 5 0.4 5 0.4 Mobile Home Parks 4 0.3 4 0.3 Automotive Dealership 3 0.2 3 0.2 Total Commercial Real Estate - Income Producing 1,357$ 100.0 % 1,282$ 100.0 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $357 • Commercial RE: • Composite CRE 382 • Owner - Occupied 376 • Income - Producing 391 Committed Average Loan Size (in thousands ) • Commercial Construction $582 • Commercial RE: • Composite CRE 402 • Owner - Occupied 396 • Income - Producing 410

ucbi.com | 30 Protecting High - Quality Balance Sheet Liquidity ucbi.com | 30 Capacity 4Q16 3Q16 4Q15 vs 3Q16 vs 4Q15 WHOLESALE BORROWINGS Brokered Deposits (1) 1,071$ 328$ 359$ 339$ (31)$ (11)$ FHLB 1,226 709 449 430 260 279 Holding Company LOC 50 - - - - - Fed Funds 860 5 25 - (20) 5 Other Wholesale 1,155 - 10 17 (10) (17) Total 4,362$ 1,042$ 843$ 786$ 199$ 256$ LONG-TERM DEBT (par) Senior Debt 160$ 160$ 160$ -$ -$ Trust Preferred Securities 20 20 6 - 14 Total Long-Term Debt 180$ 180$ 166$ -$ 14$ Cash 43$ 49$ 50$ (6)$ (7)$ Loans / Deposits Loans 6,921$ 6,725$ 5,995$ 196$ 926$ Core (DDA, MMDA, Savings) 5,915$ 5,853$ 5,251$ 62$ 664$ Public Funds 1,128 910 1,032 218 96 CD's 1,267 1,320 1,251 (53) 16 Total Customer Deposits (excl Brokered) 8,310$ 8,083$ 7,534$ 227$ 776$ Loan to Customer Deposit Ratio 83% 83% 80% Investment Securities Available for Sale -Fixed 1,831$ 1,584$ 1,648$ 247$ 183$ -Floating 601 631 643 (30) (42) Held to Maturity -Fixed 327 342 361 (15) (34) -Floating 3 3 4 - (1) Total Investment Securities 2,762$ 2,560$ 2,656$ 202$ 106$ Floating as % of Total Securities 22% 25% 24% 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% 0.8% CFR COLB WABC FFIN CVBF BOH CBU FMBI UCBI UMBF CBSH TRMK ONB PACW BOKF FHN FCF UMPQ TCBI MBFI PB WAL BXS ASB GBCI WBS SNV FNB HBHC PFS BPFH EWBC UBSI WTFC FULT PNFP TCB STL STBA SBNY OZRK BPOP BRKL VLY WAFD ISBC CATY HOPE BKU 3Q16 Cost of Deposits Median ► Our third quarter 2016 total cost of deposits was 12 basis points, which compared favorably to peers with a median of 25 basis points ► Core deposits (excludes Jumbo CDs / Brokered) comprised approximately 90% of our total customer deposits at September 30, 2016

ucbi.com | 32 Generating Growth ucbi.com | 32 Steady Loan Growth $4.51 $4.96 $6.61 $1.04 $0.31 $0.16 $4.18 $4.33 $4.67 $6.00 $6.92 $3.00 $4.00 $5.00 $6.00 $7.00 2012 2013 2014 2015 2016 Millions Total Loans in billions Organic Acquired Healthcare (sold 4Q15) 10% 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 2.6 10 36 4 7 Gainesville, Georgia 3.2 0.4 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 11 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 $ 8.6 30 139 Market Deposits United Deposits Deposit Share Excellent Growth Opportunities Banks Offices Rank

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 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 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 $10.7 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 4Q15 1Q16 2Q16 3Q16 4Q16 Net Income Net income - GAAP 18,208$ 22,295$ 25,266$ 25,874$ 27,221$ Merger-related and other charges 9,078 2,653 1,176 3,152 1,141 Tax benefit on merger-related and other charges (3,486) (1,004) (445) (1,193) (432) Impairment of deferred tax asset on cancelled nonqualified stock options - - - - 976 Net income - Operating 23,800$ 23,944$ 25,997$ 27,833$ 28,906$ Diluted Earnings per share Diluted earnings per share - GAAP 0.25$ 0.31$ 0.35$ 0.36$ 0.38$ Merger-related and other charges 0.08 0.02 0.01 0.03 0.01 Impairment of deferred tax asset on cancelled nonqualified stock options - - - - 0.01 Diluted earnings per share - Operating 0.33$ 0.33$ 0.36$ 0.39$ 0.40$ Return on Assets Return on assets - GAAP 0.76 % 0.93 % 1.04 % 1.00 % 1.03 % Merger-related and other charges 0.23 0.07 0.03 0.08 0.03 Impairment of deferred tax asset on cancelled nonqualified stock options - - - - 0.04 Return on assets - Operating 0.99 % 1.00 % 1.07 % 1.08 % 1.10 % Return on Tangible Common Equity Return on common equity - GAAP 7.02 % 8.57 % 9.54 % 9.61 % 9.89 % Effect of merger-related charges 2.16 0.63 0.27 0.73 0.26 Impairment of deferred tax asset on cancelled nonqualified stock options - - - - 0.36 Return on common equity - Operating 9.18 9.20 9.81 10.34 10.51 Effect of goodwill and intangibles 1.69 1.71 1.75 2.11 1.96 Return on tangible common equity - Operating 10.87 % 10.91 % 11.56 % 12.45 % 12.47 % Expenses Expenses - GAAP 65,488$ 57,885$ 58,060$ 64,023$ 61,321$ Merger-related charges (3,109) (2,653) (1,176) (3,152) (1,141) Impairment charge on real estate held for future use (5,969) - - - - Expenses - Operating 56,410$ 55,232$ 56,884$ 60,871$ 60,180$ Pre-Tax, Pre-Credit Earnings Pre-Tax Earnings - GAAP 29,260$ 35,873$ 40,655$ 41,627$ 44,837$ Merger-related charges 3,109 2,653 1,176 3,152 1,141 Impairment charge on real estate held for future use 5,969 - - - - Provision for credit losses 300 (200) (300) (300) - Pre-Tax, Pre-Credit Earnings - Operating 38,638$ 38,326$ 41,531$ 44,479$ 45,978$ Efficiency Ratio Efficiency Ratio - GAAP 68.97 % 61.94 % 59.02 % 60.78 % 57.65 % Merger-related and other charges (9.56) (2.84) (1.20) (2.99) (1.07) Efficiency Ratio - Operating 59.41 % 59.10 % 57.82 % 57.79 % 56.58 % Non - GAAP Reconciliation Tables $ in thousands, except per share data ucbi.com | 38