8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

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

Date of Report (Date of earliest event reported):
October 23, 2018

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

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

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

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

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

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

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

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

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

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

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

Emerging growth company ¨

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

Item 2.02

Results of Operations and Financial Condition.

On October 23, 2018, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended September 30, 2018 (the “News Release”). The News Release, including financial schedules, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In connection with issuing the News Release, on October 24, 2018 at 11:00 a.m. ET, the Registrant intends to hold a conference call/webcast to discuss the News Release. In addition to the News Release, during the conference call the Registrant intends to discuss certain financial information contained in the Third Quarter 2018 Investor Presentation (the “Investor Presentation”), which was posted to the Registrant’s website at www.ucbi.com on October 23, 2018. The Investor Presentation is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The presentation of the Registrant’s financial information contains financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. The financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “operating net income,” “operating net income per diluted share,” “operating earnings per diluted share,” “tangible book value per common share,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “operating dividend payout ratio,” “operating efficiency ratio,” “average tangible equity to average assets,” “average tangible common equity to average assets” and “tangible common equity to risk-weighted assets.” These non-GAAP measures are included because Management believes they may provide useful supplemental information for evaluating Management’s underlying performance trends. These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included in the News Release and the Investor Presentation attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01		Financial Statements and Exhibits.
(d)		Exhibits
	Exhibit No.	Description
	99.1	News Release, dated October 23, 2018
	99.2	Investor Presentation, Third Quarter 2018

SIGNATURES

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

UNITED COMMUNITY BANKS, INC.
By:	/s/ Jefferson L. Harralson
	Jefferson L. Harralson
	Executive Vice President and
	Chief Financial Officer

Date: October 23, 2018

EX-99.1

Exhibit 99.1

For Immediate Release

For more information:

Jefferson Harralson

Chief Financial Officer

(864) 240-6208

Jefferson_Harralson@ucbi.com

United Community Banks, Inc. Announces Third Quarter Results

Continued Strong Profitability, EPS up 42% year over year

GREENVILLE, SC – October 23, 2018

United Community Banks, Inc. (NASDAQ: UCBI) (“United”) realized strong third quarter results, with solid year-over-year loan and deposit growth, favorable efficiency levels and outstanding asset quality trends. Reported earnings per share were $0.54, an increase of 42 percent from a year ago. Excluding merger-related and other charges, earnings per share were $0.55, up 34 percent compared to last year. United also reported higher profitability ratios with increases in both return on assets and return on tangible equity.

During the quarter, United benefitted from strong core deposit growth, net interest margin expansion as well as strong mortgage and SBA production. Core transaction deposits were up $70 million and total customer deposits increased by $156 million during the quarter. Compared to last year, mortgage and SBA production increased 23 percent and 10 percent, respectively. Additionally, year-to-date SBA production is 39 percent higher than 2017. Navitas Credit Corporation, United’s equipment finance arm, continued to perform well and was a key growth driver for the quarter.

“I am pleased with our third quarter performance and continue to be optimistic about the balance of 2018,” said Lynn Harton, President and Chief Executive Officer of United. “Our new markets and investments continue to perform well and we have high expectations for the remainder of the year and beyond. We are pleased that we were able to exceed our return on assets target and are proud to have attained a 1.42 percent return on assets this quarter on an operating basis. I credit our outstanding team for this performance and am proud they were recognized for creating one of the “Best Banks to Work For” by American Banker for the second year in a row.”

1

Third Quarter 2018 Financial Highlights:

● Return on assets of 1.41 percent, or 1.42 percent, excluding merger-related and other charges

● Return on common equity of 12.0 percent

● Return on tangible equity of 15.8 percent, excluding merger-related and other charges

● Loan growth, excluding planned runoff of the indirect portfolio, of 2 percent on an annualized basis

● Loan production of $778 million, as compared to $617 million in Q3 2017

● Expansion of the net interest margin to 3.95 percent, up 5 basis points from the second quarter of 2018 and up 41 basis points from a year ago

● Efficiency ratio of 56.8 percent, or 56.4 percent, excluding merger-related and other charges

● Net charge offs of seven basis points, consistent with last quarter

● Nonperforming assets of 0.19 percent of total assets, compared with 0.20 percent at June 30, 2018 and 0.23 percent at September 30, 2017

Conference Call

United will hold a conference call, Wednesday, October 24, 2018, at 11 a.m. ET to discuss the contents of this press release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 1270387. 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.

2

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Selected Financial Information

																Third			For the Nine
	2018									2017						Quarter			Months Ended						YTD
	Third			Second			First			Fourth			Third			2018-2017			September 30,						2018-2017
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change			2018			2017			Change
INCOME SUMMARY
Interest revenue	$	128,721		$	122,215		$	115,290		$	106,757		$	98,839					$	366,226		$	282,963
Interest expense		16,611			13,739			12,005			9,249			9,064						42,355			24,486
Net interest revenue		112,110			108,476			103,285			97,508			89,775			25	%		323,871			258,477			25	%
Provision for credit losses		1,800			1,800			3,800			1,200			1,000						7,400			2,600
Noninterest income		24,180			23,340			22,396			21,928			20,573			18			69,916			66,332			5
Total revenue		134,490			130,016			121,881			118,236			109,348			23			386,387			322,209			20
Expenses		77,718			76,850			73,475			75,882			65,674			18			228,043			191,729			19
Income before income tax expense		56,772			53,166			48,406			42,354			43,674			30			158,344			130,480			21
Income tax expense		13,090			13,532			10,748			54,270			15,728			(17	)		37,370			50,743			(26	)
Net income (loss)		43,682			39,634			37,658			(11,916	)		27,946			56			120,974			79,737			52
Merger-related and other charges		592			2,873			2,646			7,358			3,420						6,111			7,304
Income tax benefit of merger-related and other charges		(141	)		(121	)		(628	)		(1,165	)		(1,147	)					(890	)		(2,580	)
Impact of remeasurement of deferred tax asset resulting from 2017 Tax Cuts and Jobs Act		-			-			-			38,199			-						-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-						-			3,400
Net income - operating (1)	$	44,133		$	42,386		$	39,676		$	32,476		$	30,219			46		$	126,195		$	87,861			44
PERFORMANCE MEASURES
Per common share:
Diluted net income (loss) - GAAP	$	0.54		$	0.49		$	0.47		$	(0.16	)	$	0.38			42		$	1.51		$	1.10			37
Diluted net income - operating  (1)		0.55			0.53			0.50			0.42			0.41			34			1.57			1.21			30
Cash dividends declared		0.15			0.15			0.12			0.10			0.10			50			0.42			0.28			50
Book value		17.56			17.29			17.02			16.67			16.50			6			17.56			16.50			6
Tangible book value (3)		13.54			13.25			12.96			13.65			14.11			(4	)		13.54			14.11			(4	)
Key performance ratios:
Return on common equity - GAAP (2)(4)		11.96	%		11.20	%		11.11	%		(3.57	)%		9.22	%					11.43	%		9.26	%
Return on common equity - operating (1)(2)(4)		12.09			11.97			11.71			9.73			9.97						11.93			10.20
Return on tangible common equity - operating (1)(2)(3)(4)		15.81			15.79			15.26			11.93			11.93						15.62			12.07
Return on assets - GAAP (4)		1.41			1.30			1.26			(0.40	)		1.01						1.32			0.99
Return on assets - operating (1)(4)		1.42			1.39			1.33			1.10			1.09						1.38			1.09
Dividend payout ratio - GAAP		27.78			30.61			25.53			(62.50	)		26.32						27.81			25.45
Dividend payout ratio - operating (1)		27.27			28.30			24.00			23.81			24.39						26.75			23.14
Net interest margin (fully taxable equivalent) (4)		3.95			3.90			3.80			3.63			3.54						3.88			3.49
Efficiency ratio - GAAP		56.82			57.94			57.83			63.03			59.27						57.52			58.81
Efficiency ratio - operating  (1)		56.39			55.77			55.75			56.92			56.18						55.98			56.57
Average equity to average assets		11.33			11.21			11.03			11.21			10.86						11.19			10.54
Average tangible equity to average assets (3)		8.97			8.83			8.82			9.52			9.45						8.88			9.21
Average tangible common equity to average assets (3)		8.97			8.83			8.82			9.52			9.45						8.88			9.21
Tangible common equity to risk-weighted assets (3)(5)		11.62			11.36			11.19			12.05			12.80						11.62			12.80
																				-
ASSET QUALITY
Nonperforming loans	$	22,530		$	21,817		$	26,240		$	23,658		$	22,921			(2	)	$	22,530		$	22,921			(2	)
Foreclosed properties		1,336			2,597			2,714			3,234			2,736			(51	)		1,336			2,736			(51	)
Total nonperforming assets (NPAs)		23,866			24,414			28,954			26,892			25,657			(7	)		23,866			25,657			(7	)
Allowance for loan losses		60,940			61,071			61,085			58,914			58,605			4			60,940			58,605			4
Net charge-offs		1,466			1,359			1,501			1,061			1,635			(10	)		4,326			4,937			(12	)
Allowance for loan losses to loans		0.74	%		0.74	%		0.75	%		0.76	%		0.81	%					0.74	%		0.81	%
Net charge-offs to average loans (4)		0.07			0.07			0.08			0.06			0.09						0.07			0.09
NPAs to loans and foreclosed properties		0.29			0.30			0.35			0.35			0.36						0.29			0.36
NPAs to total assets		0.19			0.20			0.24			0.23			0.23						0.19			0.23
AVERAGE BALANCES ($ in millions)
Loans	$	8,200		$	8,177		$	7,993		$	7,560		$	7,149			15		$	8,124		$	7,012			16
Investment securities		2,916			2,802			2,870			2,991			2,800			4			2,863			2,799			2
Earning assets		11,320			11,193			11,076			10,735			10,133			12			11,197			9,969			12
Total assets		12,302			12,213			12,111			11,687			10,980			12			12,209			10,788			13
Deposits		9,950			9,978			9,759			9,624			8,913			12			9,896			8,723			13
Shareholders’ equity		1,394			1,370			1,336			1,310			1,193			17			1,367			1,137			20
Common shares - basic (thousands)		79,806			79,753			79,205			76,768			73,151			9			79,588			72,060			10
Common shares - diluted (thousands)		79,818			79,755			79,215			76,768			73,162			9			79,598			72,071			10
AT PERIOD END ($ in millions)
Loans	$	8,226		$	8,220		$	8,184		$	7,736		$	7,203			14		$	8,226		$	7,203			14
Investment securities		2,873			2,834			2,731			2,937			2,847			1			2,873			2,847			1
Total assets		12,405			12,386			12,264			11,915			11,129			11			12,405			11,129			11
Deposits		10,229			9,966			9,993			9,808			9,127			12			10,229			9,127			12
Shareholders’ equity		1,402			1,379			1,357			1,303			1,221			15			1,402			1,221			15
Common shares outstanding (thousands)		79,202			79,138			79,123			77,580			73,403			8			79,202			73,403			8

⁽¹⁾ Excludes merger-related and other charges which includes amortization of certain executive change of control benefits, the fourth quarter 2017 impact of remeasurement of United's deferred tax assets following the passage of tax reform legislation and a first quarter 2017 release of disproportionate tax effects lodged in OCI.

⁽²⁾ Net income less preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss).

⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization.

⁽⁴⁾ Annualized.

⁽⁵⁾ Third quarter 2018 ratio is preliminary.

3

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2018									2017						For the Nine Months Ended September 30,
	Third			Second			First			Fourth			Third
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			2018			2017
Expense reconciliation
Expenses (GAAP)	$	77,718		$	76,850		$	73,475		$	75,882		$	65,674		$	228,043		$	191,729
Merger-related and other charges		(592	)		(2,873	)		(2,646	)		(7,358	)		(3,420	)		(6,111	)		(7,304	)
Expenses - operating	$	77,126		$	73,977		$	70,829		$	68,524		$	62,254		$	221,932		$	184,425
Net income reconciliation
Net income (loss) (GAAP)	$	43,682		$	39,634		$	37,658		$	(11,916	)	$	27,946		$	120,974		$	79,737
Merger-related and other charges		592			2,873			2,646			7,358			3,420			6,111			7,304
Income tax benefit of merger-related and other charges		(141	)		(121	)		(628	)		(1,165	)		(1,147	)		(890	)		(2,580	)
Impact of tax reform on remeasurement of deferred tax asset		-			-			-			38,199			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-			-			3,400
Net income - operating	$	44,133		$	42,386		$	39,676		$	32,476		$	30,219		$	126,195		$	87,861
Diluted income per common share reconciliation
Diluted income (loss) per common share (GAAP)	$	0.54		$	0.49		$	0.47		$	(0.16	)	$	0.38		$	1.51		$	1.10
Merger-related and other charges		0.01			0.04			0.03			0.08			0.03			0.06			0.06
Impact of tax reform on remeasurement of deferred tax asset		-			-			-			0.50			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-			-			0.05
Diluted income per common share - operating	$	0.55		$	0.53		$	0.50		$	0.42		$	0.41		$	1.57		$	1.21
Book value per common share reconciliation
Book value per common share (GAAP)	$	17.56		$	17.29		$	17.02		$	16.67		$	16.50		$	17.56		$	16.50
Effect of goodwill and other intangibles		(4.02	)		(4.04	)		(4.06	)		(3.02	)		(2.39	)		(4.02	)		(2.39	)
Tangible book value per common share	$	13.54		$	13.25		$	12.96		$	13.65		$	14.11		$	13.54		$	14.11
Return on tangible common equity reconciliation
Return on common equity (GAAP)		11.96	%		11.20	%		11.11	%		(3.57	)%		9.22	%		11.43	%		9.26	%
Merger-related and other charges		0.13			0.77			0.60			1.86			0.75			0.50			0.55
Impact of tax reform on remeasurement of deferred tax asset		-			-			-			11.44			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-			-			0.39
Return on common equity - operating		12.09			11.97			11.71			9.73			9.97			11.93			10.20
Effect of goodwill and other intangibles		3.72			3.82			3.55			2.20			1.96			3.69			1.87
Return on tangible common equity - operating		15.81	%		15.79	%		15.26	%		11.93	%		11.93	%		15.62	%		12.07	%
Return on assets reconciliation
Return on assets (GAAP)		1.41	%		1.30	%		1.26	%		(0.40	)%		1.01	%		1.32	%		0.99	%
Merger-related and other charges		0.01			0.09			0.07			0.20			0.08			0.06			0.06
Impact of tax reform on remeasurement of deferred tax asset		-			-			-			1.30			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-			-			0.04
Return on assets - operating		1.42	%		1.39	%		1.33	%		1.10	%		1.09	%		1.38	%		1.09	%
Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		27.78	%		30.61	%		25.53	%		(62.50	)%		26.32	%		27.81	%		25.45	%
Merger-related and other charges		(0.51	)		(2.31	)		(1.53	)		12.04			(1.93	)		(1.06	)		(1.31	)
Impact of tax reform on remeasurement of deferred tax asset		-			-			-			74.27			-			-			-
Release of disproportionate tax effects lodged in OCI		-			-			-			-			-			-			(1.00	)
Dividend payout ratio - operating		27.27	%		28.30	%		24.00	%		23.81	%		24.39	%		26.75	%		23.14	%
Efficiency ratio reconciliation
Efficiency ratio (GAAP)		56.82	%		57.94	%		57.83	%		63.03	%		59.27	%		57.52	%		58.81	%
Merger-related and other charges		(0.43	)		(2.17	)		(2.08	)		(6.11	)		(3.09	)		(1.54	)		(2.24	)
Efficiency ratio - operating		56.39	%		55.77	%		55.75	%		56.92	%		56.18	%		55.98	%		56.57	%
Average equity to assets reconciliation
Equity to assets (GAAP)		11.33	%		11.21	%		11.03	%		11.21	%		10.86	%		11.19	%		10.54	%
Effect of goodwill and other intangibles		(2.36	)		(2.38	)		(2.21	)		(1.69	)		(1.41	)		(2.31	)		(1.33	)
Tangible common equity to assets		8.97	%		8.83	%		8.82	%		9.52	%		9.45	%		8.88	%		9.21	%
Tangible common equity to risk-weighted assets reconciliation (1)
Tier 1 capital ratio (Regulatory)		12.34	%		11.94	%		11.61	%		12.24	%		12.27	%		12.34	%		12.27	%
Effect of other comprehensive income		(0.68	)		(0.57	)		(0.50	)		(0.29	)		(0.13	)		(0.68	)		(0.13	)
Effect of deferred tax limitation		0.30			0.33			0.42			0.51			0.94			0.30			0.94
Effect of trust preferred		(0.34	)		(0.34	)		(0.34	)		(0.36	)		(0.24	)		(0.34	)		(0.24	)
Basel III intangibles transition adjustment		-			-			-			(0.05	)		(0.04	)		-			(0.03	)
Tangible common equity to risk-weighted assets		11.62	%		11.36	%		11.19	%		12.05	%		12.80	%		11.62	%		12.81	%

⁽¹⁾ Third quarter 2018 ratios are preliminary.                    

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UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2018						2017				Linked			Year over
	Third		Second		First		Fourth		Third		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,673	$	1,682	$	1,898	$	1,924	$	1,792	$	(9	)	$	(119	)
Income producing commercial RE		1,788		1,821		1,677		1,595		1,413		(33	)		375
Commercial & industrial		1,194		1,193		1,142		1,131		1,084		1			110
Commercial construction		761		735		691		712		583		26			178
Equipment financing		509		465		423		-		-		44			509
Total commercial		5,925		5,896		5,831		5,362		4,872		29			1,053
Residential mortgage		1,035		1,021		992		974		933		14			102
Home equity lines of credit		702		708		712		731		689		(6	)		13
Residential construction		198		195		190		183		190		3			8
Consumer		366		400		459		486		519		(34	)		(153	)
Total loans	$	8,226	$	8,220	$	8,184	$	7,736	$	7,203		6			1,023
LOANS BY MARKET
North Georgia	$	992	$	1,001	$	1,004	$	1,019	$	1,047		(9	)		(55	)
Atlanta MSA		1,493		1,533		1,513		1,510		1,477		(40	)		16
North Carolina		1,078		1,067		1,037		1,049		542		11			536
Coastal Georgia		610		623		635		630		634		(13	)		(24	)
Gainesville MSA		235		230		231		248		242		5			(7	)
East Tennessee		460		474		473		475		471		(14	)		(11	)
South Carolina		1,586		1,571		1,537		1,486		1,470		15			116
Commercial Banking Solutions		1,530		1,444		1,438		961		920		86			610
Indirect auto		242		277		316		358		400		(35	)		(158	)
Total loans	$	8,226	$	8,220	$	8,184	$	7,736	$	7,203		6			1,023

5

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Credit Quality
	Third Quarter 2018									Second Quarter 2018									First Quarter 2018
	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	$	4,884		$	183		$	5,067		$	5,772		$	812		$	6,584		$	6,757		$	1,121		$	7,878
Income producing CRE		1,194			156			1,350			991			455			1,446			3,942			368			4,310
Commercial & industrial		1,516			-			1,516			2,180			-			2,180			1,917			-			1,917
Commercial construction		825			522			1,347			613			576			1,189			574			658			1,232
Equipment financing		1,181			-			1,181			1,075			-			1,075			428			-			428
Total commercial		9,600			861			10,461			10,631			1,843			12,474			13,618			2,147			15,765
Residential mortgage		8,928			424			9,352			7,918			184			8,102			8,724			232			8,956
Home equity lines of credit		2,814			-			2,814			1,812			550			2,362			2,149			335			2,484
Residential construction		455			51			506			637			20			657			378			-			378
Consumer		733			-			733			819			-			819			1,371			-			1,371
Total NPAs	$	22,530		$	1,336		$	23,866		$	21,817		$	2,597		$	24,414		$	26,240		$	2,714		$	28,954
NONPERFORMING ASSETS BY MARKET
North Georgia	$	7,170		$	361		$	7,531		$	7,583		$	640		$	8,223		$	8,519		$	85		$	8,604
Atlanta MSA		1,778			132			1,910			1,928			132			2,060			1,138			132			1,270
North Carolina		3,690			480			4,170			3,029			750			3,779			5,006			1,271			6,277
Coastal Georgia		1,498			-			1,498			943			-			943			1,887			-			1,887
Gainesville MSA		212			-			212			186			-			186			574			163			737
East Tennessee		1,403			128			1,531			1,473			143			1,616			1,511			10			1,521
South Carolina		3,280			235			3,515			3,093			362			3,455			3,443			483			3,926
Commercial Banking Solutions		2,871			-			2,871			2,831			570			3,401			2,937			570			3,507
Indirect auto		628			-			628			751			-			751			1,225			-			1,225
Total NPAs	$	22,530		$	1,336		$	23,866		$	21,817		$	2,597		$	24,414		$	26,240		$	2,714		$	28,954
NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	21,817		$	2,597		$	24,414		$	26,240		$	2,714		$	28,954		$	23,658		$	3,234		$	26,892
Acquisitions		-			-			-			-			-			-			428			-			428
Loans placed on non-accrual		5,759			-			5,759			3,612			-			3,612			7,463			-			7,463
Payments received		(3,095	)		-			(3,095	)		(5,314	)		-			(5,314	)		(3,534	)		-			(3,534	)
Loan charge-offs		(1,588	)		-			(1,588	)		(2,065	)		-			(2,065	)		(1,150	)		-			(1,150	)
Foreclosures		(363	)		454			91			(656	)		984			328			(625	)		625			-
Property sales		-			(1,659	)		(1,659	)		-			(1,029	)		(1,029	)		-			(957	)		(957	)
Write downs		-			(166	)		(166	)		-			(106	)		(106	)		-			(72	)		(72	)
Net gains (losses) on sales		-			110			110			-			34			34			-			(116	)		(116	)
Ending Balance	$	22,530		$	1,336		$	23,866		$	21,817		$	2,597		$	24,414		$	26,240		$	2,714		$	28,954

	Third Quarter 2018						Second Quarter 2018						First Quarter 2018
				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	$	(251	)		(.06	)%	$	(578	)		(.13	)%	$	(43	)		(.01	)%
Income producing CRE		1			-			1,421			.33			422			.10
Commercial & industrial		418			.14			16			.01			(3	)		-
Commercial construction		(43	)		(.02	)		(107	)		(.06	)		266			.15
Equipment financing		482			.39			(49	)		(.04	)		40			.08
Total commercial		607			.04			703			.05			682			.05
Residential mortgage		171			.07			11			-			(52	)		(.02	)
Home equity lines of credit		279			.16			21			.01			89			.05
Residential construction		(164	)		(.33	)		(58	)		(.12	)		(64	)		(.14	)
Consumer		573			.60			682			.64			846			.72
Total	$	1,466			.07		$	1,359			.07		$	1,501			.08
NET CHARGE-OFFS BY MARKET
North Georgia	$	483			.19	%	$	246			.10	%	$	772			.31	%
Atlanta MSA		99			.03			103			.03			(109	)		(.03	)
North Carolina		(87	)		(.03	)		1,268			.48			144			.06
Coastal Georgia		24			.02			19			.01			137			.09
Gainesville MSA		(48	)		(.08	)		(2	)		-			(18	)		(.03	)
East Tennessee		(1	)		-			76			.06			31			.03
South Carolina		418			.11			(1,057	)		(.27	)		12			-
Commercial Banking Solutions		403			.11			381			.11			176			.06
Indirect auto		175			.27			325			.44			356			.41
Total	$	1,466			.07		$	1,359			.07		$	1,501			.08

⁽¹⁾  Annualized.                                                

6

UNITED COMMUNITY BANKS, INC.
Consolidated Statements of Income (Unaudited)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2018		2017		2018			2017
Interest revenue:
Loans, including fees	$	108,335	$	80,264	$	308,296		$	227,816
Investment securities, including tax exempt of $1,052, $671, $3,049, and $1,307		19,899		17,875		56,448			53,365
Deposits in banks and short-term investments		487		700		1,482			1,782
Total interest revenue		128,721		98,839		366,226			282,963
Interest expense:
Deposits:
NOW and interest-bearing demand		1,901		700		4,317			1,932
Money market		3,261		1,953		8,019			4,938
Savings		33		34		117			89
Time		5,746		1,870		12,900			4,257
Total deposit interest expense		10,941		4,557		25,353			11,216
Short-term borrowings		274		36		772			177
Federal Home Loan Bank advances		1,791		1,709		5,551			4,603
Long-term debt		3,605		2,762		10,679			8,490
Total interest expense		16,611		9,064		42,355			24,486
Net interest revenue		112,110		89,775		323,871			258,477
Provision for credit losses		1,800		1,000		7,400			2,600
Net interest revenue after provision for credit losses		110,310		88,775		316,471			255,877
Noninterest income:
Service charges and fees		9,112		8,220		26,831			29,525
Mortgage loan and other related fees		5,262		4,200		15,928			13,435
Brokerage fees		1,525		1,009		3,598			3,565
Gains from sales of SBA/USDA loans		2,605		2,806		6,784			7,391
Securities gains (losses), net		2		188		(1,302	)		190
Other		5,674		4,150		18,077			12,226
Total noninterest income		24,180		20,573		69,916			66,332
Total revenue		134,490		109,348		386,387			322,209
Noninterest expenses:
Salaries and employee benefits		47,146		38,027		135,384			112,056
Communications and equipment		5,590		4,547		15,071			14,443
Occupancy		5,779		4,945		16,939			14,802
Advertising and public relations		1,442		1,026		4,341			3,347
Postage, printing and supplies		1,574		1,411		4,896			4,127
Professional fees		3,927		2,976		11,435			8,391
FDIC assessments and other regulatory charges		2,228		2,127		6,677			4,758
Amortization of intangibles		1,681		1,212		5,426			3,085
Merger-related and other charges		115		3,176		4,449			7,060
Other		8,236		6,227		23,425			19,660
Total noninterest expenses		77,718		65,674		228,043			191,729
Net income before income taxes		56,772		43,674		158,344			130,480
Income tax expense		13,090		15,728		37,370			50,743
Net income	$	43,682	$	27,946	$	120,974		$	79,737
Net income available to common shareholders	$	43,381	$	27,719	$	120,124		$	79,078
Earnings per common share:
Basic	$	0.54	$	0.38	$	1.51		$	1.10
Diluted		0.54		0.38		1.51			1.10
Weighted average common shares outstanding:
Basic		79,806		73,151		79,588			72,060
Diluted		79,818		73,162		79,598			72,071

7

UNITED COMMUNITY BANKS, INC.
Consolidated Balance Sheets (Unaudited)
	September 30,			December 31,
(in thousands, except share and per share data)	2018			2017
ASSETS
Cash and due from banks	$	115,509		$	129,108
Interest-bearing deposits in banks		196,459			185,167
Cash and cash equivalents		311,968			314,275
Securities available for sale		2,587,559			2,615,850
Securities held to maturity (fair value $277,473 and $321,276)		285,739			321,094
Loans held for sale (includes $27,325 and $26,252 at fair value)		27,325			32,734
Loans and leases, net of unearned income		8,226,466			7,735,572
Less allowance for loan and lease losses		(60,940	)		(58,914	)
Loans, net		8,165,526			7,676,658
Premises and equipment, net		204,080			208,852
Bank owned life insurance		191,582			188,970
Accrued interest receivable		33,562			32,459
Net deferred tax asset		76,944			88,049
Derivative financial instruments		29,895			22,721
Goodwill and other intangible assets		325,493			244,397
Other assets		165,459			169,401
Total assets	$	12,405,132		$	11,915,460
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand	$	3,296,908		$	3,087,797
NOW and interest-bearing demand		2,075,479			2,131,939
Money market		2,060,671			2,016,748
Savings		680,421			651,742
Time		1,564,640			1,548,460
Brokered		551,358			371,011
Total deposits		10,229,477			9,807,697
Short-term borrowings		-			50,000
Federal Home Loan Bank advances		300,000			504,651
Long-term debt		285,128			120,545
Derivative financial instruments		39,116			25,376
Accrued expenses and other liabilities		149,529			103,857
Total liabilities		11,003,250			10,612,126
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized;
79,202,479 and 77,579,561 shares issued and outstanding		79,202			77,580
Common stock issuable; 650,338 and 607,869 shares		10,171			9,083
Capital surplus		1,498,199			1,451,814
Accumulated deficit		(122,679	)		(209,902	)
Accumulated other comprehensive loss		(63,011	)		(25,241	)
Total shareholders' equity		1,401,882			1,303,334
Total liabilities and shareholders' equity	$	12,405,132		$	11,915,460

8

UNITED COMMUNITY BANKS, INC.
Average Consolidated Balance Sheets and Net Interest Analysis
For the Three Months Ended September 30,
	2018								2017
	Average					Avg.			Average					Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) (1)(2)	$	8,199,856		$	108,197		5.23	%	$	7,149,348		$	80,301		4.46	%
Taxable securities (3)		2,763,461			18,847		2.73			2,695,162			17,204		2.55
Tax-exempt securities (FTE) (1)(3)		152,939			1,417		3.71			105,151			1,098		4.18
Federal funds sold and other interest-earning assets		203,707			751		1.47			183,170			883		1.93
Total interest-earning assets (FTE)		11,319,963			129,212		4.53			10,132,831			99,486		3.90
Noninterest-earning assets:
Allowance for loan losses		(62,322	)							(60,098	)
Cash and due from banks		123,290								103,477
Premises and equipment		216,775								203,579
Other assets (3)		703,915								599,725
Total assets	$	12,301,621							$	10,979,514
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	1,874,397			1,901		0.40		$	1,863,160			700		0.15
Money market		2,167,031			3,261		0.60			2,170,148			1,953		0.36
Savings		680,640			33		0.02			593,823			34		0.02
Time		1,545,020			3,351		0.86			1,338,786			1,548		0.46
Brokered time deposits		434,182			2,395		2.19			109,811			322		1.16
Total interest-bearing deposits		6,701,270			10,941		0.65			6,075,728			4,557		0.30
Federal funds purchased and other borrowings		50,767			274		2.14			11,313			36		1.26
Federal Home Loan Bank advances		331,413			1,791		2.14			574,404			1,709		1.18
Long-term debt		296,366			3,605		4.83			154,616			2,762		7.09
Total borrowed funds		678,546			5,670		3.32			740,333			4,507		2.42
Total interest-bearing liabilities		7,379,816			16,611		0.89			6,816,061			9,064		0.53
Noninterest-bearing liabilities:
Noninterest-bearing deposits		3,249,218								2,837,378
Other liabilities		278,764								133,212
Total liabilities		10,907,798								9,786,651
Shareholders' equity		1,393,823								1,192,863
Total liabilities and shareholders' equity	$	12,301,621							$	10,979,514
Net interest revenue (FTE)				$	112,601							$	90,422
Net interest-rate spread (FTE)							3.64	%							3.37	%
Net interest margin (FTE) (4)							3.95	%							3.54	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate used was 26% in 2018 and 39% in 2017, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

⁽²⁾ Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾ Securities available for sale are shown at amortized cost. Pretax unrealized losses of $49.9 million in 2018 and pretax unrealized gains of $12.6 million in 2017 are included in other assets for purposes of this presentation.

⁽⁴⁾ Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

9

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Nine Months Ended September 30,

	2018								2017
	Average					Avg.			Average					Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) (1)(2)	$	8,124,269		$	307,981		5.07	%	$	7,011,962		$	227,853		4.34	%
Taxable securities (3)		2,712,900			53,399		2.62			2,731,081			52,058		2.54
Tax-exempt securities (FTE) (1)(3)		150,014			4,106		3.65			68,005			2,139		4.19
Federal funds sold and other interest-earning assets		209,836			2,123		1.35			157,582			2,290		1.94
Total interest-earning assets (FTE)		11,197,019			367,609		4.39			9,968,630			284,340		3.81
Noninterest-earning assets:
Allowance for loan losses		(61,259	)							(60,971	)
Cash and due from banks		138,809								102,529
Premises and equipment		217,339								195,576
Other assets (3)		717,555								582,194
Total assets	$	12,209,463							$	10,787,958
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	2,009,029			4,317		0.29		$	1,907,889			1,932		0.14
Money market		2,203,677			8,019		0.49			2,100,296			4,938		0.31
Savings		671,883			117		0.02			576,927			89		0.02
Time		1,534,823			8,288		0.72			1,292,521			3,499		0.36
Brokered time deposits		298,653			4,612		2.06			106,753			758		0.95
Total interest-bearing deposits		6,718,065			25,353		0.50			5,984,386			11,216		0.25
Federal funds purchased and other borrowings		58,144			772		1.78			22,525			177		1.05
Federal Home Loan Bank advances		392,227			5,551		1.89			616,388			4,603		1.00
Long-term debt		295,966			10,679		4.82			168,271			8,490		6.75
Total borrowed funds		746,337			17,002		3.05			807,184			13,270		2.20
Total interest-bearing liabilities		7,464,402			42,355		0.76			6,791,570			24,486		0.48
Noninterest-bearing liabilities:
Noninterest-bearing deposits		3,178,387								2,738,118
Other liabilities		199,848								121,672
Total liabilities		10,842,637								9,651,360
Shareholders' equity		1,366,826								1,136,598
Total liabilities and shareholders' equity	$	12,209,463							$	10,787,958
Net interest revenue (FTE)				$	325,254							$	259,854
Net interest-rate spread (FTE)							3.63	%							3.33	%
Net interest margin (FTE) (4)							3.88	%							3.49	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate used was 26% in 2018 and 39% in 2017, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

⁽²⁾ Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.

⁽³⁾ Securities available for sale are shown at amortized cost.  Pretax unrealized losses of $40.4 million in 2018 and pretax unrealized gains of $4.67 million in 2017 are included in other assets for purposes of this presentation.

⁽⁴⁾ Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

10

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia with $12.4 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 150 offices in Georgia, North Carolina, South Carolina and Tennessee at the end of the most recent quarter. The bank specializes in personalized community banking services for individuals, small businesses and corporations. Services include a full range of consumer and commercial banking products including mortgage, advisory, and treasury management. Respected national research firms consistently recognize United Community Bank for outstanding customer service. For the last five years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2018, for the fifth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures

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

Caution About Forward-Looking Statements

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

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11

EX-99.2

Exhibit 99.2

2018 INVESTOR PRESENTATION THIRD QUARTER 2018 October 23, 2018

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

• Established in 1950 and headquartered in Blairsville, GA with executive offices in Greenville, SC x 2,336 employees • One of the largest regional banks in the U.S. by assets with 143 branch locations, 7 loan production offices and 4 mortgage loan offices in four states: GA, NC, SC and TN x Top 10 market share in GA and SC • Metro - focused branch network with locations in fast growing areas Premier Southeast Regional Bank United Community Bank 143 Branch locations 7 Loan Production Offices 4 Mortgage Loan Offices Who We Are Snapshot of United Community Banks, Inc. Market data as of October 17, 2018 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures ucbi.com | 3 3Q18 Overview Ticker UCBI (NASDAQ) Market Cap $ 2.1Bn P/EPS (2019E) 11.2x P/TBV 194% Assets $12.4Bn Loans $8.2Bn Deposits $ 10.2Bn CET1* 12.0% NPAs / Assets 0.19% ROA – GAAP 1.41% ROA – Operating (1) 1.42% ROCE – GAAP 11.96% ROTCE – Operating (1) 15.81% *3Q18 Capital Ratios are preliminary

3 Q18 Highlights ucbi.com | 4 $16.50 $17.29 $17.56 $14.11 $13.25 $13.54 3Q17 2Q18 3Q18 Book Value Per Share (2) Book Value (GAAP) Tangible Book Value (non-GAAP) (1) $0.38 $0.49 $0.54 $0.41 $0.53 $0.55 3Q17 2Q18 3Q18 Earnings Per Share GAAP Operating (1) 1.01% 1.30% 1.41% 1.09% 1.39% 1.42% 3Q17 2Q18 3Q18 Return on Assets GAAP Operating (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures ucbi.com | 4 (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GA AP performance measures (2) Excludes effect of acquisition - related intangibles and associated amortization » Operating diluted earnings per share of $ 0.55 compared with GAAP diluted earnings per share of $ 0.54 » GAAP EPS up 42% vs. last year » Operating EPS rose 34% over the same time frame » GAAP ROA of 1.41% in 3Q » Operating ROA moved to 1.42% exceeding our stated goal of 1.40%, up 3 bps from 2Q18 » Quarterly dividend of $0.15 up 50% vs. last year » Annualized loan growth of 2.1% for the quarter, excluding indirect auto runoff of $41 mm » Total deposits up $263 mm in 3Q18 or 10.6% annualized $0.10 $0.15 $0.15 3Q17 2Q18 3Q18 Dividends Per Share

$89.8 $108.5 $112.1 3Q17 2Q18 3Q18 3.54% 3.90% 3.95% ucbi.com | 5 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Net Interest Revenue / Margin (1) ucbi.com | 5 (1) Net interest margin is calculated on a fully - taxable equivalent basis $ in millions Net Interest Revenue Net Interest Margin » Net interest revenue of $ 112.1 mm increased $3.6 mm (3.4%) vs. 2Q18 and $ 22.3 mm ( 24.9%) vs. 3Q17 » Benefit of Navitas acquisition and an increase in average balances, in addition to rising short - term interest rates » Net interest margin up 5 bps vs. 2Q18 impacted by » Accretable yield contributed $ 2.2 mm or 7.5 bps to 3Q18 NIM vs. 2.4 bps in 2Q18 » Higher loan yield of 16 bps due to higher short - term interest rates and improving portfolio mix from Navitas growth » Net interest margin up 41 bps vs. 3Q17 due to higher short - term rates, stable core deposit base and the impact of acquisitions

2016 2017 1Q 2018 2Q 2018 3Q 2018 Non-Interest Bearing Core Demand Deposit 2,423$ 2,910$ 3,027$ 3,068$ 3,118$ Interest Bearing Core Total CommercialNOW 1,114 1,221 1,225 1,204 1,200 MMDA 1,830 1,986 1,979 1,989 2,015 Savings 548 649 675 681 678 Total Interest Bearing Core 3,492 3,856 3,878 3,874 3,893 Total Core Trans Deposits 5,915 6,766 6,905 6,942 7,011 Time (Customer) 1,267 1,522 1,487 1,491 1,528 Public Funds (Customer) 1,128 1,148 1,190 1,089 1,139 Brokered 328 371 411 444 551 Total LoansTotal Deposits 8,638$ 9,808$ 9,993$ 9,966$ 10,229$ ucbi.com | 6 NOTE - Certain prior period amounts in the loans by category table have been reclassified to conform to the current presentation Deposit Growth Deposits by Category in millions ucbi.com | 6 » United continues to benefit from its strong core deposit base » Annualized end - of - period deposit growth of 11% » Total deposits increased $263 million vs. 2Q18 and $1.1 billion YoY

0 10 20 30 40 50 60 42 bps 26 bps 82% 94% Low - Cost Deposit Base Sufficient Liquidity to Support Future Growth Loans / Deposits (1) (2) Cost of Total Deposits (bps) (1) (2) 52 bps 33 bps Deposits KRX Peer KRX Peer Note – Peer comparison banks comprise the KBW Regional Bank Index (ticker:KRX) (1) Source: S&P Global Market Intelligence (2) United results as of 3Q18 ; KRX results as of 2Q18 (Source: S&P Global Market Intelligence) ucbi.com | 7

ucbi.com | 8 $2.9 $2.9 $2.9 $1.4 $1.8 $1.8 $0.6 $0.7 $0.8 $1.8 $1.9 $1.9 $0.5 $0.4 $0.3 $ 0.5 $0.5 $7.2 $8.2 $8.2 3Q17 2Q18 3Q18 C&I (1) CRE Comml Construction Residential Other Consumer Equipment Finance 25.2% 8.1% 19.6% 39.9% 21.7% 34.9% 9.3% 23.5% 4.4% 22.2% 34.9% 8.9% 23.4% 4.9% 6.2% 5.7% Loans ucbi.com | 8 $ in billions 7.2% » Annualized end - of - period loan growth was 0.3%, or 2.1% excluding indirect auto runoff of $41 mm » Diversified portfolio, weighted towards C&I » Well within regulatory guidance on construction and CRE levels » The 100%/300% ratios stand at 74% and 197%, respectively (1) C&I includes commercial and industrial loans as well as owner - occupied CRE loans

ucbi.com | 9 Loan Growth Drivers ucbi.com | 9 » Continued expansion in our metro markets, including our new Myrtle Beach and Raleigh markets » Ongoing evaluation and addition of new Commercial Banking products and verticals » Successful execution of the Navitas growth strategy » Continued development of our unique partnership model where the community banks partner with Commercial Banking Solutions to drive growth » Growth in the mortgage business via expansion into newly acquired markets and with the addition of on - balance sheet adjustable rate products

$8.2 $8.8 $9.1 $4.3 $5.6 $5.7 $1.0 $1.2 $1.5 $4.2 $5.3 $5.3 $2.8 $2.4 $2.6 3Q17 2Q18 3Q18 Service Charges Other Brokerage Mortgage SBA ucbi.com | 10 Fee Revenue ucbi.com | 10 in millions » Vs Linked quarter, fees up $0.9 mm due to: » Strong mortgage quarter with $237 mm in originations vs. record $258 mm last quarter » SBA loan sales of $35.5 mm up 25% vs. last quarter, that drove a 8.5% increase in gains, as gain on sale margins have compressed » Navitas fee income growth of 10% from last quarter » Vs Last Year, fees up $3.7 mm to $24.2 mm » $0.8 mm higher service charges mostly from acquisitions » Mortgage originations of $237 mm, up 23% year over year » 3 Q SBA production of $ 51.4 mm, up 19% vs. 3Q17 of $43.3 mm; SBA revenue up $5.6 mm year over year ($35.5 mm in 3Q18 vs. $29.9 mm in 3Q17 ) » Other income up $ 1.4 mm includes the benefit of Navitas fee income ( Navitas fee income of $1.3 mm in 3Q18) $20.5 $ 23.3 $ 24.2

59.3% 57.9% 56.8% 56.2% 55.8% 56.4% $65.7 $76.9 $77.7 $62.3 $74.0 $77.1 3Q17 2Q18 3Q18 ucbi.com | 11 (1) Net interest margin is calculated on a fully taxable equivalent basis (2) E xcludes brokered deposits Expense Discipline ucbi.com | 11 GAAP Operating (1) (1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to G AAP performance measures » Linked quarter, GAAP and operating expenses grew 1% and 4%, respectively » Operating efficiency ratio relatively stable at 56.4% » Operating expenses up $ 3.1 mm vs. 2Q18 » The majority of the increase driven by higher salaries and incentives compared to the prior quarter » Market expansions and acquisitions drove year - over - year GAAP and operating expenses higher by 18% and 24%, respectively » Operating efficiency ratio increased slightly to 56.4% from 56.2% last year Efficiency Ratio (1) $ in millions

Credit Quality ucbi.com | 12 (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 | 12 0.09% 0.07% 0.07% 3Q17 2Q18 3Q18 Net Charge - Offs as % of Average Loans 0.23% 0.20% 0.19% 3Q17 2Q18 3Q18 Non - Performing Assets as % of Total Assets $1.0 $1.8 $1.8 3Q17 2Q18 3Q18 Provision for Credit Losses $ in millions 0.81% 0.74% 0.74% 3Q17 2Q18 3Q18 Allowance for Loan Losses

ucbi.com | 13 Holding Company 3Q17 2Q18 3 Q18 Common Equity Tier I Capital 12.2% 11.6% 12.0% Tier I Risk - Based Capital 12.3 12.0 12.3 Total Risk - Based Capital 13.0 13.8 14.2 Leverage 9.3 9.3 9.5 Tangible Common Equity to Risk - Weighted Assets 12.8 11.4 11.6 Average Tangible Equity to Average Assets 9.5 8.8 9.0 ► Profitability continues to provide significant capital ratio improvement each quarter ► All regulatory capital ratios significantly above “well - capitalized” ► Quarterly dividend of $0.15 per share (up 50% YoY ) ucbi.com | 13 Capital Ratios Note: 3Q18 ratios are preliminary

ucbi.com | 14 Key Strengths ucbi.com | 14 » Culture and business model that attracts both bankers and potential acquisition partners » Positioned well in many of the South's fastest - growing markets » Superior customer service helps drive great core deposit growth » Well - developed credit model to drive consistent performance through cycles » Liquid balance sheet and strong capital offer flexibility in a rising rate environment

2018 INVESTOR PRESENTATION Exhibits THIRD QUARTER 2018 October 23, 2018

Cultural Pillars Customer Service Is at Our Foundation High - Quality Balance Sheet » Underwriting conservatism and portfolio diversification » Top quartile credit quality performance » Prudent capital, liquidity and interest - rate risk management » Focused on improving return to shareholders with increasing ROTCE and dividend growth Profitability » Managing a steady margin with minimal accretion income » Fee revenue expansion through focused growth initiatives » Continued operating expense discipline while investing in growth opportunities » Executing on M&A cost savings » High - quality, low - cost core deposit base Growth » Addition of Commercial Banking Solutions platforms (middle - market banking, SBA lending, senior care, income - property lending, asset - based lending, builder finance, renewable energy, equipment finance) and actively pursuing additional lending platforms » Entered into and continue to target new markets with team lift - outs (Charleston, Greenville, Atlanta, Raleigh) » Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth » Acquisitions that fit our footprint and culture and deliver desired financial returns Who We Are Full - Service Regional Bank with a Strong Culture Rooted in Sound Credit Underwriting & Growth ucbi.com | 16

17 Who We Are The Bank That Service Built ucbi.com | 17

Fastest Growing Southeast MSAs (1) 2019 - 2024 Proj . Population Growth 2019 Population 2024 Proj . Median Household Income 1. Myrtle Beach, SC 9.66% 485,770 $55,203 2. Cape Coral, FL 8.46% 757,170 $62,988 3. Orlando, FL 8.13% 2,589,416 $65,275 4. Charleston, SC 8.11% 799,117 $70,920 5. Raleigh, NC 8.02% 1,366,959 $85,734 6. Naples, FL 7.86% 381,728 $73,715 7. Lakeland, FL 7.55% 705,037 $54,996 8. North Port, FL 7.53% 825,378 $66,059 9. Charlotte, NC 7.29% 2,591,118 $73,487 10. Jacksonville, FL 6.92% 1,549,094 $67,247 17. Atlanta, GA 6.52% 6,017,552 $77,092 19. Greenville, SC 6.18% 912,621 $62,654 20. Savannah, GA 6.15% 395,004 $68,589 23. Spartanburg, SC 5.93% 340,535 $55,507 10.8% 8.8% UCBI US ’19 – ’24 Proj . Household Income Growth 5.2% 3.6% UCBI US ’19 – ’24 Proj . Population Growth Strong Demographic Profile (2) $57,412 $63,174 UCBI US Median Household Income Notes 1. Includes MSAs with a population of greater than 300,000 2. Weighted by State deposits UCBI MSA Presence ucbi.com | 18 Who We Are Focused on High - Growth MSAs in Southeast

ucbi.com | 19 3Q18 2Q18 3Q17 2Q18 3Q17 Commercial & Industrial 280.1$ 227.4$ 136.1$ 52.7$ 144.0$ Owner-Occupied CRE 77.8 74.7 72.2 3.1 5.6 Income-Producing CRE 77.1 112.3 80.0 (35.2) (2.9) Commercial Constr. 146.1 186.8 139.1 (40.7) 7.0 Total Commercial 581.1 601.2 427.4 (20.1) 153.7 Residential Mortgage 42.9 63.9 54.7 (21.0) (11.8) Residential HELOC 65.4 66.6 68.1 (1.2) (2.7) Residential Construction 70.6 63.4 53.5 7.2 17.1 Consumer 18.2 17.7 13.1 0.5 5.1 Total 778.2$ 812.8$ 616.8$ (34.6)$ 161.4$ 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 $616.8 $812.8 $778.2 3Q17 2Q18 3Q18 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 3Q18 2Q18 3Q17 2Q18 3Q17 Atlanta 120.0$ 142.3$ 151.5$ (22.3)$ (31.5) Coastal Georgia 34.7 43.3 41.1 (8.6) (6.4) North Georgia 68.3 65.2 63.8 3.1 4.5 North Carolina 93.4 113.2 34.8 (19.8) 58.6 Tennessee 24.7 32.7 24.1 (8.0) 0.6 Gainesville 18.7 15.4 9.7 3.3 9.0 South Carolina 126.2 145.1 109.2 (18.9) 17.0 Total Community Banks 486.0 557.2 434.2 (71.2) 51.8 Asset-based Lending 9.9 1.0 8.4 8.9 1.5 Commercial RE 12.0 38.2 42.8 (26.2) (30.8) Senior Care 26.8 32.9 14.8 (6.1) 12.0 Middle Market 18.3 9.4 35.9 8.9 (17.6) SBA 75.2 36.2 43.4 39.0 31.8 Renewable Energy 6.7 0.4 - 6.3 6.7 Navitas 107.8 100.2 - 7.6 107.8 Builder Finance 35.5 37.3 37.3 (1.8) (1.8) 292.2 255.6 182.6 36.6 109.6 Indirect Auto - - - - - Total 778.2$ 812.8$ 616.8$ (34.6)$ 161.4$ Variance-Incr(Decr) Total Commercial Banking Solutions New Loans Funded and Advances (1) ucbi.com | 19 (1) Represents new loans funded and net loan advances (net of payments on lines of credit) $ in millions

Commercial RE Diversification – 9/30/2018 ucbi.com | 20 Assisted Living/Nursing Home/Rehab Cntr 296$ 22.4 % 125$ 16.4 % Residential Construction in Process: SPEC 139 10.5 89 11.7 Residential Land Development - Lots Already Developed in Hands of Builders 62 4.7 58 7.6 Retail Building 75 5.7 53 7.0 Office Buildings 99 7.5 51 6.8 Vacant (Improved) 54 4.0 46 6.1 Residential Construction in Process: PRESOLD 72 5.4 44 5.8 Multi-Residential Properties 144 10.9 43 5.7 Hotels Motels 74 5.6 38 4.9 Warehouse 45 3.4 32 4.2 Other Properties 48 3.7 31 4.1 Raw Land - Vacant (Unimproved) 35 2.6 30 4.0 Self Storage 46 3.5 29 3.8 Residential Land Development - Subdivisions in Process 34 2.5 25 3.2 Residential Raw Land in the Hands of Builders/Developers 17 1.3 16 2.0 Restaurants /Franchise Fast Food / Franchise Other 24 1.8 13 1.8 Commercial Land Development 10 0.8 9 1.1 Churches 9 0.7 8 1.0 Automotive Service 7 0.5 5 0.7 Daycare Facility 9 0.7 5 0.7 All Other 23 1.8 11 1.4 Total Commercial Construction 1,322$ 100 % 761$ 100 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Office Buildings 440$ 23.1 % 398$ 22.2 % Retail Building 354 18.6 337 18.8 Assisted Living/Nursing Home/Rehab Cntr 198 10.4 179 10.0 Investor Residential 194 10.2 190 10.6 Hotels Motels 180 9.5 177 9.9 Warehouse 165 8.7 160 8.9 Multi-Residential Properties 133 7.0 124 7.0 Other Properties 66 3.5 59 3.3 Restaurants /Franchise Fast Food / Franchise Other 53 2.8 51 2.8 Self Storage 31 1.6 29 1.6 Mfg Facility 24 1.3 24 1.3 Convenience Stores 22 1.2 21 1.2 Leasehold Property 17 0.9 17 1.0 Mobile Home Parks 8 0.4 8 0.5 Automotive Service 8 0.4 8 0.5 Daycare Facility 3 0.2 3 0.2 All Other 3 0.2 3 0.2 Total Commercial Real Estate - Income Producing 1,899$ 100 % 1,788$ 100 % Committed Outstanding Outstanding Average Loan Size (in thousands ) • Commercial Construction $ 349 • Commercial RE: • Composite CRE 420 • Owner - Occupied 361 • Income - Producing 496 Committed Average Loan Size (in thousands ) • Commercial Construction $600 • Commercial RE: • Composite CRE 448 • Owner - Occupied 387 • Income - Producing 526 ucbi.com | 20

BUILT TO OUTPERFORM IN THE NEXT CYCLE 1. Process Change • In 2014, centralized and streamlined consumer underwriting and related functions • Significantly strengthened commercial process for approvals and monitoring 2. Add Significant Talent • CEO with deep knowledge and experience in credit • 2015 Rob Edwards brought in to lead team (BB&T, TD Bank) • Senior credit risk team now has large bank credit risk experience 3. Concentration Management: Size • In house project lending limit of $18 mm, legal lending limit of $ 324 mm • Relationship limit of $30 mm • $109 mm of SNC’s outstanding, $193 mm committed • Top 25 loans = $603 mm, 7.3 % of total loans 4. Concentration Management: Geography • Four state franchise with mix of metro and rural markets 5. Concentration Management: Product • Construction/CRE ratio = 74%/197% • C&D > 30% in cycle, now 12.6 % driven by Four Oaks • Land in C&D $ 249 mm and shrinking, due to Four Oaks conversion • Navitas 6.20 % of loans • Granular product concentration limits Strong Credit Culture ucbi.com | 21

Accretable Yield Analysis Profitability Comparison (2Q18 Annualized) ucbi.com | 22 1.18% 1.20% 1.29% 1.30% 1.37% 1.38% 1.38% 1.43% 1.44% 1.52% 1.64% 1.64% 2.08% 0.00% 1.00% 2.00% Peer 12 Peer 11 Peer 10 Peer 9 Peer 8 Peer 7 UCBI Peer 6 Peer 5 Peer 4 Peer 2 Peer 3 Peer 1 Core ROAA 1.05% 1.10% 1.17% 1.20% 1.23% 1.26% 1.28% 1.28% 1.29% 1.30% 1.36% 1.50% 1.86% 0.00% 1.00% 2.00% Peer 11 Peer 12 Peer 7 Peer 2 Peer 9 Peer 6 Peer 8 Peer 5 Peer 10 Peer 4 UCBI Peer 3 Peer 1 Adj. Core ROAA (1) 0.22% 0.15% 0.02% 0.22% 0.01% 0.09% 0.16% 0.17% 0.07% 0.44% 0.20% 0.08% 0.15% 1.54% 1.73% 1.81% 1.85% 1.90% 1.98% 1.98% 2.03% 2.10% 2.38% 2.82% 2.86% 2.95% 0.00% 1.00% 2.00% 3.00% Peer 12 Peer 10 Peer 9 Peer 11 Peer 3 UCBI Peer 6 Peer 7 Peer 4 Peer 5 Peer 2 Peer 1 Peer 8 Core PTPP / Avg Assets 1.45% 1.67% 1.71% 1.72% 1.72% 1.76% 1.78% 1.82% 1.96% 2.17% 2.26% 2.57% 2.84% 0.00% 1.00% 2.00% 3.00% Peer 12 Peer 11 Peer 9 Peer 10 Peer 3 Peer 6 Peer 7 Peer 4 UCBI Peer 5 Peer 2 Peer 1 Peer 8 Adj. Core PTPP / Avg Assets (1) 0.11% 0.29% 0.09% 0.18% 0.56% 0.21% 0.02% 0.27% 0.25% 0.22% 0.01% 0.18% 0.10% Median: 1.38% Median: 1.28% Median: 1.98% Median: 1.78% Source: Bank of America Merrill Lynch, S&P Global Market Intelligence (1) Excludes impact of accretable yield, assuming MRQ is annualized. Adj. Core ROAA assumes MRQ tax rate. % of Avg Assets Attributable to Accretable Yield

3Q17 4Q17 1Q18 2Q18 3Q18 (1) (1) (1) (1) (1) Net Income Net income - GAAP 27,946$ (11,916)$ 37,658$ 39,634$ 43,682$ Merger-related and other charges 3,420 7,358 2,646 2,873 592 Tax benefit on merger-related and other charges (1,147) (1,165) (628) (121) (141) Impairment of deferred tax asset due to federal tax rate reduction - 38,199 - - - Net income - Operating 30,219$ 32,476$ 39,676$ 42,386$ 44,133$ Diluted Earnings per share Diluted earnings per share - GAAP 0.38$ (0.16)$ 0.47$ 0.49$ 0.54$ Merger-related and other charges 0.03 0.08 0.03 0.04 0.01 Impairment of deferred tax asset due to federal tax rate reduction - 0.50 - - - Diluted earnings per share - Operating 0.41$ 0.42$ 0.50$ 0.53$ 0.55$ Return on Assets Return on assets - GAAP 1.01 % (0.40) % 1.26 % 1.30 % 1.41 % Merger-related and other charges 0.08 0.20 0.07 0.09 0.01 Impairment of deferred tax asset due to federal tax rate reduction - 1.30 - - - Return on assets - Operating 1.09 % 1.10 % 1.33 % 1.39 % 1.42 % Book Value per share Book Value per share - GAAP 16.50$ 16.67$ 17.02$ 17.29$ 17.56$ Effect of goodwill and other intangibles (2.39) (3.02) (4.06) (4.04) (4.02) Tangible book value per share 14.11$ 13.65$ 12.96$ 13.25$ 13.54$ ucbi.com | 23 Non - GAAP Reconciliation Tables ucbi.com | 23 $ in thousands, except per share data (1) Merger - related and other charges for 3Q18, 2Q18, 1Q18, 4Q17 and 3Q17 include $478, $593 thousand, $592 thousand, $517 thousand and $244 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of cont rol agreements. The resulting intangible assets are being amortized over 12 to 24 months.

3Q17 4Q17 1Q18 2Q18 3Q18 (1) (1) (1) (1) (1) Return on Tangible Common Equity Return on common equity - GAAP 9.22 % (3.57) % 11.11 % 11.20 % 11.96 % Effect of merger-related and other charges 0.75 1.86 0.60 0.77 0.13 Impairment of deferred tax asset due to federal tax rate reduction - 11.44 - - - Return on common equity - Operating 9.97 9.73 11.71 11.97 12.09 Effect of goodwill and intangibles 1.96 2.20 3.55 3.82 3.72 Return on tangible common equity - Operating 11.93 % 11.93 % 15.26 % 15.79 % 15.81 % Expenses Expenses - GAAP 65,674$ 75,882$ 73,475$ 76,850$ 77,718$ Merger-related and other charges (3,420) (7,358) (2,646) (2,873) (592) Expenses - Operating 62,254$ 68,524$ 70,829$ 73,977$ 77,126$ Tangible common equity to risk-weighted assets reconciliation (*) Tier 1 capital ratio (Regulatory) 12.27$ 12.24$ 11.61$ 11.94$ 12.34$ Effect of other comprehensive income (0.13) (0.29) (0.50) (0.57) (0.68) Effect of deferred tax limitation 0.94 0.51 0.42 0.33 0.30 Effect of trust preferred (0.24) (0.36) (0.34) (0.34) (0.34) Basel III intangibles transition adjustment (0.04) (0.05) - - - Tangible common equity to risk-weighted assets 12.80 % 12.05 % 11.19 11.36 % 11.62 % Efficiency Ratio Efficiency Ratio - GAAP 59.27 % 63.03 % 57.83 % 57.94 % 56.82 % Merger-related and other charges (3.09) (6.11) (2.08) (2.17) (0.43) Efficiency Ratio - Operating 56.18 % 56.92 % 55.75 % 55.77 % 56.39 % (*) Third quarter 2018 ratios are preliminary. ucbi.com | 24 Non - GAAP Reconciliation Tables ucbi.com | 24 $ in thousands, except per share data (1) Merger - related and other charges for 3Q18, 2Q18 , 1Q18, 4Q17 and 3Q17 include $478, $593 thousand, $592 thousand, $517 thousand and $244 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of cont rol agreements. The resulting intangible assets are being amortized over 12 to 24 months.