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):

April 23, 2019

UNITED COMMUNITY BANKS, INC.

(Exact name of registrant as specified in its charter)

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

125 Highway 515 East

Blairsville, Georgia 30512

(Address of principal executive offices)

Registrant’s telephone number, including area code:

(706) 781-2265

Not applicable

(Former name or former address, if changed since last report)

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

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

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

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

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

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

Emerging growth company     ¨

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

Item 2.02 Results of Operations and Financial Condition.

On April 23, 2019, United Community Banks, Inc. (the “Registrant”) issued a news release announcing its financial results for the quarter ended March 31, 2019 (the “News Release”). The News Release, including financial schedules, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. In connection with issuing the News Release, on April 24, 2019 at 11:00 a.m. ET, the Registrant intends to hold a conference call/webcast to discuss the News Release. In addition to the News Release, during the conference call the Registrant intends to discuss certain financial information contained in the First Quarter 2019 Investor Presentation (the “Investor Presentation”), which was posted to the Registrant’s website at www.ucbi.com on April 23, 2019. 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 the Registrant’s underlying performance trends. These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included in the News Release and the Investor Presentation attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	News Release, dated April 23, 2019
99.2	Investor Presentation, First Quarter 2019

SIGNATURES

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

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

Date: April 23, 2019

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. reports EPS of $0.55 and ROA of 1.44% for Q1 2019

GREENVILLE, SC – April 23, 2019

United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced its first quarter financial results, including solid year-over-year loan and deposit growth, improved operating efficiency and continued strong asset quality. Reported diluted earnings per share were $0.55, an increase of $0.08 or 17% from a year ago. Excluding merger-related and other charges, diluted operating earnings per share were $0.56, up 12% over last year. United’s return on assets (“ROA”) reached 1.44% with a return on equity of 11.9%. On an operating basis, United’s ROA was 1.45% with a return on tangible common equity of 15.5%.

During the quarter, United benefitted from continued net interest margin expansion. Higher loan yields and an intentional balance sheet deleveraging strategy, including a reduction of $183 million in securities and wholesale borrowings were primary factors in the net interest margin expansion. The company also achieved more than 5% annualized loan growth (7% excluding the planned runoff of the discontinued indirect auto portfolio). Core transaction deposits grew by $135 million, or 8% annualized, and total customer deposits increased by $125 million during the quarter. United’s expense management resulted in a 55.32% efficiency ratio or 54.78% on an operating basis—both results are historical lows for the company.

“Our first quarter performance begins what we believe will be an outstanding year,” said Lynn Harton, President and Chief Executive Officer of United. “We continue to invest in thoughtful growth and in hiring the right bankers in the right markets, while maintaining strong expense discipline. We are proud to have reported a second consecutive quarter with a 1.45% return on assets on an operating basis, a historically high level. This performance would simply not be possible without our outstanding team, which earned United the distinction this quarter of being named one of the “World’s Best Banks 2019” by Forbes. In February, we announced that our team will be expanding with the acquisition of First Madison Bank & Trust in Athens, Georgia. We look forward to welcoming First Madison and to adding loyal customers and another attractive market to our footprint in the second quarter.”

1

First Quarter 2019 Financial Highlights:

· GAAP EPS growth of 17% versus last year, or 12% on an operating basis

· Return on assets of 1.44%, or 1.45%, excluding merger-related and other charges

· Return on common equity of 11.9%

· Return on tangible common equity of 15.5%, excluding merger-related and other charges

· Loan growth, excluding planned runoff of the indirect portfolio, of 7% on an annualized basis

· Loan production of $782 million, as compared to $666 million in Q1 2018

· Loan growth of $110 million more than funded by core transaction deposit growth of $135 million

· Expansion of the net interest margin to 4.10%, up 13 basis points from the fourth quarter of 2018 and up 30 basis points from a year ago

· Efficiency ratio of 55.3%, or 54.8%, excluding merger-related and other charges

· Net charge-offs of fifteen basis points, up six basis points from last quarter, but remain at a historically low level

· Nonperforming assets of 0.20% of total assets, compared with 0.20% at December 31, 2018 and 0.24% at March 31, 2018

· Repurchased 305,000 common shares in Q1, or $7.8 million as part of authorized $50 million repurchase program

· Intentional balance sheet deleveraging, resulting in securities decreasing by $183 million ($122 million average), offset by a reduction in wholesale borrowings

Conference Call

United will hold a conference call, Wednesday, April 24, 2019, at 11 a.m. ET to discuss the contents of this press release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 9567597. 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

																First
	2019			2018												Quarter
	First			Fourth			Third			Second			First			2019-2018
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter			Change
INCOME SUMMARY
Interest revenue	$	136,516		$	133,854		$	128,721		$	122,215		$	115,290
Interest expense		20,882			18,975			16,611			13,739			12,005
Net interest revenue		115,634			114,879			112,110			108,476			103,285			12	%
Provision for credit losses		3,300			2,100			1,800			1,800			3,800			(13	)
Noninterest income		20,968			23,045			24,180			23,340			22,396			(6	)
Total revenue		133,302			135,824			134,490			130,016			121,881			9
Expenses		76,084			78,242			77,718			76,850			73,475			4
Income before income tax expense		57,218			57,582			56,772			53,166			48,406			18
Income tax expense		12,956			12,445			13,090			13,532			10,748			21
Net income		44,262			45,137			43,682			39,634			37,658			18
Merger-related and other charges		739			1,234			592			2,873			2,646
Income tax benefit of merger-related and other charges		(172	)		(604	)		(141	)		(121	)		(628	)
Net income - operating (1)	$	44,829		$	45,767		$	44,133		$	42,386		$	39,676			13
PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	0.55		$	0.56		$	0.54		$	0.49		$	0.47			17
Diluted net income - operating (1)		0.56			0.57			0.55			0.53			0.50			12
Cash dividends declared		0.16			0.16			0.15			0.15			0.12			33
Book value		18.93			18.24			17.56			17.29			17.02			11
Tangible book value (3)		14.93			14.24			13.54			13.25			12.96			15
Key performance ratios:
Return on common equity - GAAP (2)(4)		11.85	%		12.08	%		11.96	%		11.20	%		11.11	%
Return on common equity - operating (1)(2)(4)		12.00			12.25			12.09			11.97			11.71
Return on tangible common equity - operating (1)(2)(3)(4)		15.46			15.88			15.81			15.79			15.26
Return on assets - GAAP (4)		1.44			1.43			1.41			1.30			1.26
Return on assets - operating (1)(4)		1.45			1.45			1.42			1.39			1.33
Dividend payout ratio - GAAP		29.09			28.57			27.78			30.61			25.53
Dividend payout ratio - operating (1)		28.57			28.07			27.27			28.30			24.00
Net interest margin (fully taxable equivalent) (4)		4.10			3.97			3.95			3.90			3.80
Efficiency ratio - GAAP		55.32			56.73			56.82			57.94			57.83
Efficiency ratio - operating (1)		54.78			55.83			56.39			55.77			55.75
Average equity to average assets		11.82			11.35			11.33			11.21			11.03
Average tangible common equity to average assets (3)		9.53			9.04			8.97			8.83			8.82
Tangible common equity to risk-weighted assets (3)(5)		12.48			12.00			11.61			11.36			11.19
ASSET QUALITY
Nonperforming loans	$	23,624		$	23,778		$	22,530		$	21,817		$	26,240			(10	)
Foreclosed properties		1,127			1,305			1,336			2,597			2,714			(58	)
Total nonperforming assets (NPAs)		24,751			25,083			23,866			24,414			28,954			(15	)
Allowance for loan losses		61,642			61,203			60,940			61,071			61,085			1
Net charge-offs		3,130			1,787			1,466			1,359			1,501			109
Allowance for loan losses to loans		0.73	%		0.73	%		0.74	%		0.74	%		0.75	%
Net charge-offs to average loans (4)		0.15			0.09			0.07			0.07			0.08
NPAs to loans and foreclosed properties		0.29			0.30			0.29			0.30			0.35
NPAs to total assets		0.20			0.20			0.19			0.20			0.24
AVERAGE BALANCES ($ in millions)
Loans	$	8,430		$	8,306		$	8,200		$	8,177		$	7,993			5
Investment securities		2,883			3,004			2,916			2,802			2,870			-
Earning assets		11,498			11,534			11,320			11,193			11,076			4
Total assets		12,509			12,505			12,302			12,213			12,111			3
Deposits		10,361			10,306			9,950			9,978			9,759			6
Shareholders’ equity		1,478			1,420			1,394			1,370			1,336			11
Common shares - basic (thousands)		79,807			79,884			79,806			79,753			79,205			1
Common shares - diluted (thousands)		79,813			79,890			79,818			79,755			79,215			1
AT PERIOD END ($ in millions)
Loans	$	8,493		$	8,383		$	8,226		$	8,220		$	8,184			4
Investment securities		2,720			2,903			2,873			2,834			2,731			-
Total assets		12,506			12,573			12,405			12,386			12,264			2
Deposits		10,534			10,535			10,229			9,966			9,993			5
Shareholders’ equity		1,508			1,458			1,402			1,379			1,357			11
Common shares outstanding (thousands)		79,035			79,234			79,202			79,138			79,123			-

⁽¹⁾ Excludes merger-related and other charges which includes amortization of certain executive change of control benefits.

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

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

⁽⁴⁾ Annualized.

⁽⁵⁾ First quarter 2019 ratio is preliminary.

3

UNITED COMMUNITY BANKS, INC.

Non-GAAP Performance Measures Reconciliation

Selected Financial Information

	2019			2018
	First			Fourth			Third			Second			First
(in thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			Quarter
Expense reconciliation
Expenses (GAAP)	$	76,084		$	78,242		$	77,718		$	76,850		$	73,475
Merger-related and other charges		(739	)		(1,234	)		(592	)		(2,873	)		(2,646	)
Expenses - operating	$	75,345		$	77,008		$	77,126		$	73,977		$	70,829
Net income reconciliation
Net income (GAAP)	$	44,262		$	45,137		$	43,682		$	39,634		$	37,658
Merger-related and other charges		739			1,234			592			2,873			2,646
Income tax benefit of merger-related and other charges		(172	)		(604	)		(141	)		(121	)		(628	)
Net income - operating	$	44,829		$	45,767		$	44,133		$	42,386		$	39,676
Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	0.55		$	0.56		$	0.54		$	0.49		$	0.47
Merger-related and other charges		0.01			0.01			0.01			0.04			0.03
Diluted income per common share - operating	$	0.56		$	0.57		$	0.55		$	0.53		$	0.50
Book value per common share reconciliation
Book value per common share (GAAP)	$	18.93		$	18.24		$	17.56		$	17.29		$	17.02
Effect of goodwill and other intangibles		(4.00	)		(4.00	)		(4.02	)		(4.04	)		(4.06	)
Tangible book value per common share	$	14.93		$	14.24		$	13.54		$	13.25		$	12.96
Return on tangible common equity reconciliation
Return on common equity (GAAP)		11.85	%		12.08	%		11.96	%		11.20	%		11.11	%
Merger-related and other charges		0.15			0.17			0.13			0.77			0.60
Return on common equity - operating		12.00			12.25			12.09			11.97			11.71
Effect of goodwill and other intangibles		3.46			3.63			3.72			3.82			3.55
Return on tangible common equity - operating		15.46	%		15.88	%		15.81	%		15.79	%		15.26	%
Return on assets reconciliation
Return on assets (GAAP)		1.44	%		1.43	%		1.41	%		1.30	%		1.26	%
Merger-related and other charges		0.01			0.02			0.01			0.09			0.07
Return on assets - operating		1.45	%		1.45	%		1.42	%		1.39	%		1.33	%
Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		29.09	%		28.57	%		27.78	%		30.61	%		25.53	%
Merger-related and other charges		(0.52	)		(0.50	)		(0.51	)		(2.31	)		(1.53	)
Dividend payout ratio - operating		28.57	%		28.07	%		27.27	%		28.30	%		24.00	%
Efficiency ratio reconciliation
Efficiency ratio (GAAP)		55.32	%		56.73	%		56.82	%		57.94	%		57.83	%
Merger-related and other charges		(0.54	)		(0.90	)		(0.43	)		(2.17	)		(2.08	)
Efficiency ratio - operating		54.78	%		55.83	%		56.39	%		55.77	%		55.75	%
Average equity to average assets reconciliation
Average equity to assets (GAAP)		11.82	%		11.35	%		11.33	%		11.21	%		11.03	%
Effect of goodwill and other intangibles		(2.29	)		(2.31	)		(2.36	)		(2.38	)		(2.21	)
Average tangible common equity to average assets		9.53	%		9.04	%		8.97	%		8.83	%		8.82	%
Tangible common equity to risk-weighted assets reconciliation (1)
Tier 1 capital ratio (Regulatory)		12.69	%		12.42	%		12.25	%		11.94	%		11.61	%
Effect of other comprehensive income		(0.17	)		(0.44	)		(0.68	)		(0.57	)		(0.50	)
Effect of deferred tax limitation		0.22			0.28			0.30			0.33			0.42
Effect of trust preferred		(0.26	)		(0.26	)		(0.26	)		(0.34	)		(0.34	)
Tangible common equity to risk-weighted assets		12.48	%		12.00	%		11.61	%		11.36	%		11.19	%

⁽¹⁾ First quarter 2019 ratios are preliminary.

4

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End

	2019		2018								Linked			Year over
	First		Fourth		Third		Second		First		Quarter			Year
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter		Change			Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,620	$	1,648	$	1,673	$	1,682	$	1,898	$	(28	)	$	(278	)
Income producing commercial RE		1,867		1,812		1,788		1,821		1,677		55			190
Commercial & industrial		1,284		1,278		1,194		1,193		1,142		6			142
Commercial construction		866		796		761		735		691		70			175
Equipment financing		606		565		509		465		423		41			183
Total commercial		6,243		6,099		5,925		5,896		5,831		144			412
Residential mortgage		1,064		1,049		1,035		1,021		992		15			72
Home equity lines of credit		684		694		702		708		712		(10	)		(28	)
Residential construction		200		211		198		195		190		(11	)		10
Consumer		302		330		366		400		459		(28	)		(157	)
Total loans	$	8,493	$	8,383	$	8,226	$	8,220	$	8,184		110			309
LOANS BY MARKET
North Georgia	$	970	$	981	$	992	$	1,001	$	1,004		(11	)		(34	)
Atlanta MSA		1,524		1,507		1,493		1,533		1,513		17			11
North Carolina		1,074		1,072		1,078		1,067		1,037		2			37
Coastal Georgia		603		588		610		623		635		15			(32	)
Gainesville MSA		243		247		235		230		231		(4	)		12
East Tennessee		458		477		460		474		473		(19	)		(15	)
South Carolina		1,674		1,645		1,586		1,571		1,537		29			137
Commercial Banking Solutions		1,766		1,658		1,530		1,444		1,438		108			328
Indirect auto		181		208		242		277		316		(27	)		(135	)
Total loans	$	8,493	$	8,383	$	8,226	$	8,220	$	8,184		110			309

5

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality

	First Quarter 2019									Fourth Quarter 2018									Third 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	$	7,030		$	145		$	7,175		$	6,421		$	170		$	6,591		$	4,884		$	183		$	5,067
Income producing CRE		1,276			-			1,276			1,160			-			1,160			1,194			156			1,350
Commercial & industrial		1,666			-			1,666			1,417			-			1,417			1,516			-			1,516
Commercial construction		473			421			894			605			421			1,026			825			522			1,347
Equipment financing		1,813			-			1,813			2,677			-			2,677			1,181			-			1,181
Total commercial		12,258			566			12,824			12,280			591			12,871			9,600			861			10,461
Residential mortgage		8,281			336			8,617			8,035			654			8,689			8,928			424			9,352
Home equity lines of credit		2,233			185			2,418			2,360			60			2,420			2,814			-			2,814
Residential construction		347			40			387			288			-			288			455			51			506
Consumer		505			-			505			815			-			815			733			-			733
Total NPAs	$	23,624		$	1,127		$	24,751		$	23,778		$	1,305		$	25,083		$	22,530		$	1,336		$	23,866
NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,848		$	430		$	6,278		$	6,527		$	286		$	6,813		$	7,170		$	361		$	7,531
Atlanta MSA		1,951			-			1,951			1,578			-			1,578			1,778			132			1,910
North Carolina		3,464			484			3,948			3,259			743			4,002			3,690			480			4,170
Coastal Georgia		1,881			-			1,881			1,491			-			1,491			1,498			-			1,498
Gainesville MSA		187			-			187			479			-			479			212			-			212
East Tennessee		1,555			-			1,555			1,147			-			1,147			1,403			128			1,531
South Carolina		4,476			213			4,689			4,123			276			4,399			3,280			235			3,515
Commercial Banking Solutions		3,804			-			3,804			4,448			-			4,448			2,871			-			2,871
Indirect auto		458			-			458			726			-			726			628			-			628
Total NPAs	$	23,624		$	1,127		$	24,751		$	23,778		$	1,305		$	25,083		$	22,530		$	1,336		$	23,866
NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	23,778		$	1,305		$	25,083		$	22,530		$	1,336		$	23,866		$	21,817		$	2,597		$	24,414
Loans placed on non-accrual		6,759			-			6,759			5,829			-			5,829			5,759			-			5,759
Payments received		(3,520	)		-			(3,520	)		(2,780	)		-			(2,780	)		(3,095	)		-			(3,095	)
Loan charge-offs		(2,714	)		-			(2,714	)		(933	)		-			(933	)		(1,588	)		-			(1,588	)
Foreclosures		(679	)		751			72			(868	)		955			87			(363	)		454			91
Property sales		-			(965	)		(965	)		-			(1,019	)		(1,019	)		-			(1,659	)		(1,659	)
Write downs		-			(6	)		(6	)		-			(112	)		(112	)		-			(166	)		(166	)
Net gains on sales		-			42			42			-			145			145			-			110			110
Ending Balance	$	23,624		$	1,127		$	24,751		$	23,778		$	1,305		$	25,083		$	22,530		$	1,336		$	23,866

	First Quarter 2019						Fourth Quarter 2018						Third Quarter 2018
(in thousands)	Net Charge-Offs			Net Charge-Offs to Average Loans (1)			Net Charge-Offs			Net Charge-Offs to Average Loans (1)			Net Charge-Offs			Net Charge-Offs to Average Loans (1)
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	(64	)		(0.02	)%	$	(52	)		(0.01	)%	$	(251	)		(0.06	)%
Income producing CRE		177			0.04			399			0.09			1			-
Commercial & industrial		1,356			0.43			(149	)		(0.05	)		418			0.14
Commercial construction		(325	)		(0.16	)		(230	)		(0.12	)		(43	)		(0.02	)
Equipment financing		1,281			0.89			599			0.44			482			0.39
Total commercial		2,425			0.16			567			0.04			607			0.04
Residential mortgage		13			-			290			0.11			171			0.07
Home equity lines of credit		215			0.13			382			0.22			279			0.16
Residential construction		(22	)		(0.04	)		(36	)		(0.07	)		(164	)		(0.33	)
Consumer		499			0.64			584			0.67			573			0.60
Total	$	3,130			0.15		$	1,787			0.09		$	1,466			0.07
NET CHARGE-OFFS BY MARKET
North Georgia	$	263			0.11	%	$	543			0.22	%	$	483			0.19	%
Atlanta MSA		107			0.03			(159	)		(0.04	)		99			0.03
North Carolina		307			0.12			68			0.03			(87	)		(0.03	)
Coastal Georgia		(4	)		-			(86	)		(0.06	)		24			0.02
Gainesville MSA		(8	)		(0.01	)		333			0.56			(48	)		(0.08	)
East Tennessee		627			0.54			(111	)		(0.09	)		(1	)		-
South Carolina		328			0.08			57			0.01			418			0.11
Commercial Banking Solutions		1,351			0.32			948			0.23			403			0.11
Indirect auto		159			0.33			194			0.34			175			0.27
Total	$	3,130			0.15		$	1,787			0.09		$	1,466			0.07

⁽¹⁾ Annualized.

6

UNITED COMMUNITY BANKS, INC.

Consolidated Statements of Income (Unaudited)

	Three Months Ended
	March 31,
(in thousands, except per share data)	2019			2018
Interest revenue:
Loans, including fees	$	115,259		$	96,469
Investment securities, including tax exempt of $1,169 and $972		20,818			18,295
Deposits in banks and short-term investments		439			526
Total interest revenue		136,516			115,290
Interest expense:
Deposits:
NOW and interest-bearing demand		3,536			1,113
Money market		4,205			2,175
Savings		32			49
Time		8,184			2,956
Total deposit interest expense		15,957			6,293
Short-term borrowings		161			300
Federal Home Loan Bank advances		1,422			2,124
Long-term debt		3,342			3,288
Total interest expense		20,882			12,005
Net interest revenue		115,634			103,285
Provision for credit losses		3,300			3,800
Net interest revenue after provision for credit losses		112,334			99,485
Noninterest income:
Service charges and fees		8,453			8,925
Mortgage loan and other related fees		3,748			5,359
Brokerage fees		1,337			872
Gains from sales of SBA/USDA loans		1,303			1,778
Securities losses, net		(267	)		(940	)
Other		6,394			6,402
Total noninterest income		20,968			22,396
Total revenue		133,302			121,881
Noninterest expenses:
Salaries and employee benefits		47,503			42,875
Communications and equipment		5,788			4,632
Occupancy		5,584			5,613
Advertising and public relations		1,286			1,515
Postage, printing and supplies		1,586			1,637
Professional fees		3,161			4,044
FDIC assessments and other regulatory charges		1,710			2,476
Amortization of intangibles		1,293			1,898
Merger-related and other charges		546			2,054
Other		7,627			6,731
Total noninterest expenses		76,084			73,475
Net income before income taxes		57,218			48,406
Income tax expense		12,956			10,748
Net income	$	44,262		$	37,658
Net income available to common shareholders	$	43,947		$	37,381
Earnings per common share:
Basic	$	0.55		$	0.47
Diluted		0.55			0.47
Weighted average common shares outstanding:
Basic		79,807			79,205
Diluted		79,813			79,215

7

UNITED COMMUNITY BANKS, INC.

Consolidated Balance Sheets (Unaudited)

	March 31,			December 31,
(in thousands, except share and per share data)	2019			2018
ASSETS
Cash and due from banks	$	118,659		$	126,083
Interest-bearing deposits in banks		206,836			201,182
Cash and cash equivalents		325,495			327,265
Debt securities available for sale		2,454,625			2,628,467
Debt securities held to maturity (fair value $265,117 and $268,803)		265,329			274,407
Loans held for sale at fair value		26,341			18,935
Loans and leases, net of unearned income		8,493,254			8,383,401
Less allowance for loan and lease losses		(61,642	)		(61,203	)
Loans, net		8,431,612			8,322,198
Premises and equipment, net		214,022			206,140
Bank owned life insurance		193,489			192,616
Accrued interest receivable		35,126			35,413
Net deferred tax asset		51,055			64,224
Derivative financial instruments		25,924			24,705
Goodwill and other intangible assets		322,779			324,072
Other assets		160,030			154,750
Total assets	$	12,505,827		$	12,573,192
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand	$	3,313,861		$	3,210,220
NOW and interest-bearing demand		2,205,117			2,274,775
Money market		2,106,045			2,097,526
Savings		681,739			669,886
Time		1,668,563			1,598,391
Brokered		558,981			683,715
Total deposits		10,534,306			10,534,513
Federal Home Loan Bank advances		40,000			160,000
Long-term debt		257,259			267,189
Derivative financial instruments		18,789			26,433
Accrued expenses and other liabilities		147,315			127,503
Total liabilities		10,997,669			11,115,638
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized; 79,035,459 and 79,234,077 shares issued and outstanding		79,035			79,234
Common stock issuable; 621,491 and 674,499 shares		10,291			10,744
Capital surplus		1,494,400			1,499,584
Accumulated deficit		(59,573	)		(90,419	)
Accumulated other comprehensive loss		(15,995	)		(41,589	)
Total shareholders' equity		1,508,158			1,457,554
Total liabilities and shareholders' equity	$	12,505,827		$	12,573,192

8

UNITED COMMUNITY BANKS, INC.

Average Consolidated Balance Sheets and Net Interest Analysis

For the Three Months Ended March 31,

	2019								2018
	Average					Avg.			Average					Avg.
(dollars in thousands, fully taxable equivalent (FTE))	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) (1)(2)	$	8,429,976		$	115,347		5.55	%	$	7,993,339		$	96,389		4.89	%
Taxable securities (3)		2,712,995			19,649		2.90			2,722,977			17,323		2.54
Tax-exempt securities (FTE) (1)(3)		169,702			1,570		3.70			146,531			1,309		3.57
Federal funds sold and other interest-earning assets		185,623			618		1.33			213,055			698		1.31
Total interest-earning assets (FTE)		11,498,296			137,184		4.83			11,075,902			115,719		4.23
Noninterest-earning assets:
Allowance for loan losses		(61,784	)							(59,144	)
Cash and due from banks		123,801								160,486
Premises and equipment		216,611								216,723
Other assets (3)		731,628								717,385
Total assets	$	12,508,552							$	12,111,352
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	2,208,816			3,536		0.65		$	2,083,703			1,113		0.22
Money market		2,175,855			4,205		0.78			2,230,620			2,175		0.40
Savings		672,197			32		0.02			655,746			49		0.03
Time		1,627,584			5,336		1.33			1,535,216			2,241		0.59
Brokered time deposits		482,048			2,848		2.40			158,358			715		1.83
Total interest-bearing deposits		7,166,500			15,957		0.90			6,663,643			6,293		0.38
Federal funds purchased and other borrowings		21,549			161		3.03			78,732			300		1.55
Federal Home Loan Bank advances		223,945			1,422		2.58			511,727			2,124		1.68
Long-term debt		261,971			3,342		5.17			274,480			3,288		4.86
Total borrowed funds		507,465			4,925		3.94			864,939			5,712		2.68
Total interest-bearing liabilities		7,673,965			20,882		1.10			7,528,582			12,005		0.65
Noninterest-bearing liabilities:
Noninterest-bearing deposits		3,194,401								3,095,405
Other liabilities		162,213								150,955
Total liabilities		11,030,579								10,774,942
Shareholders' equity		1,477,973								1,336,410
Total liabilities and shareholders' equity	$	12,508,552							$	12,111,352
Net interest revenue (FTE)				$	116,302							$	103,714
Net interest-rate spread (FTE)							3.73	%							3.58	%
Net interest margin (FTE) (4)							4.10	%							3.80	%

⁽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 2019 and 2018, 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 $25.9 million in 2019 and $28.3 million in 2018 are included in other assets for purposes of this presentation.

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

9

About United Community Banks, Inc.

United Community Banks, Inc. (NASDAQ: UCBI) is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. The company is one of the southeast region’s largest full-service financial institutions with $12.5 billion in assets, and 149 offices in Georgia, North Carolina, South Carolina and Tennessee which operate as United Community Bank, the company’s bank subsidiary. 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 2019, for the sixth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America, and for the first time included United on its list of The World’s Best Banks. Additional information about the company and the bank can be found at www.ucbi.com.

Non-GAAP Financial Measures

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

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, 2018 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.

#  #   #

10

EX-99.2

Exhibit 99.2

1 st Quarter 2019 Investor Presentation April 23, 2019

Disclosures ucbi.com | 2 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 2018 Annual Report on Form 10 - K under the section entitled “Forward - Looking Statements . ” Forward - looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward - looking statements . NON - GAAP MEASURES This 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 .

Who We Are - Snapshot of United Community Banks, Inc. ucbi.com | 3 United Community Bank 142 Branch locations 7 Loan Production Offices 5 Mortgage Loan Offices Market data as of April 18, 2019 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance measures » Established in 1950 and headquartered in Blairsville, GA with executive offices in Greenville, SC » 2,323 employees » One of the largest regional banks in the U.S. by assets with 142 branch locations, 7 loan production offices and 5 mortgage loan offices in four states: GA, NC, SC and TN » Top 10 market share in GA and SC » Metro - focused branch network with locations in fast growing areas Premier Southeast Regional Bank 1Q19 Overview Ticker UCBI (NASDAQ) Market Cap $2.1Bn P/EPS (2019E) 11.7x P/TBV 177% Assets $ 12.5Bn Loans $ 8.5Bn Deposits $ 10.5Bn CET1* 12.4% NPAs / Assets 0.20% ROA – GAAP 1.44% ROA – Operating (1) 1.45% ROCE – GAAP 11.85% ROTCE – Operating (1) 15.46% *1Q19 Capital Ratios are preliminary

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

$17.02 $18.24 $18.93 $12.96 $14.24 $14.93 1Q18 4Q18 1Q19 Book Value Per Share (2) Book Value (GAAP) Tangible Book Value (non-GAAP) (1) 1Q19 Highlights ucbi.com | 5 $0.47 $0.56 $0.55 $0.50 $0.57 $0.56 1Q18 4Q18 1Q19 Earnings Per Share GAAP Operating (1) 1.26% 1.43% 1.44% 1.33% 1.45% 1.45% 1Q18 4Q18 1Q19 Return on Assets GAAP Operating (1) $0.12 $0.16 $0.16 1Q18 4Q18 1Q19 Dividends Per Share » GAAP diluted earnings per share of $ 0.55 » Operating diluted earnings per share of $ 0.56, up 12% vs. the year ago quarter » GAAP ROA of 1.44% in 1Q » Operating ROA of 1.45% » Quarterly dividend of $ 0.16 up 33% vs. last year » Growth in tangible book per share of 15% vs. last year » Annualized EOP loan growth of 7% for the quarter, excluding indirect auto runoff of $27 mm » Core deposit transaction growth of $135 mm 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance 2) Excludes effect of acquisition - related intangibles and associated amortization

Net Interest Revenue / Margin ucbi.com | 6 (1) $103.3 $114.9 $115.6 1Q18 4Q18 1Q19 Net Interest Revenue Net Interest Margin 1) Net interest margin is calculated on a fully - taxable equivalent basis 3.80% 3.97% 4.10% » Net interest revenue of $ 115.6 mm increased $0.8 mm (0.7%) vs. 4Q18 and $12.3 mm (12.0%) vs. 1Q18 » Benefit of organic loan growth, Navitas acquisition and a mix change towards loans from securities (EOP loans are up $110 mm from 4Q18) » Net interest margin up 13 bps vs. 4Q18 impacted by » Higher loan yield of 20 bps due to higher customer yields across multiple products » Loan yield increase outpaced cost of funds increase by 9 bps » Intentional balance sheet deleveraging added 6 bps to NIM » Investment securities were reduced by $183 mm ($122 mm average) with offset in wholesale borrowings » Accretable yield contributed $3.2 mm or 11 bps to 1Q19 NIM vs. 9 bps in 4Q18 » Net interest margin up 30 bps vs. 1Q18 due to higher interest rates, stable core deposit base and the impact of acquisitions $ in millions

Deposit Growth ucbi.com | 7 1Q 2018 2Q 2018 3Q 2018 4Q 2018 1Q 2019 Non-Interest Bearing Core Demand Deposit 3,027$ 3,068$ 3,118$ 3,048$ 3,159$ Interest Bearing Core Total CommercialNOW 1,225 1,204 1,200 1,193 1,203 MMDA 1,979 1,989 2,015 2,048 2,050 Savings 675 681 678 667 679 Total Interest Bearing Core 3,878 3,874 3,893 3,908 3,932 Total Core Trans Deposits 6,905 6,942 7,011 6,956 7,091 Time (Customer) 1,487 1,491 1,528 1,563 1,624 Public Funds (Customer) 1,190 1,089 1,139 1,331 1,260 Brokered 411 444 551 684 559 Total LoansTotal Deposits 9,993$ 9,966$ 10,229$ 10,534$ 10,534$ Deposits by Category in millions » Annualized end - of - period core transaction deposit growth of 8% » Total deposits were flat vs. 4Q18 and up $541 million YoY » $135 million of core transaction deposit growth was offset by a seasonal decrease in public funds and a decrease in brokered deposits related to the deleveraging strategy » Our performance continues to be enhanced by the stability and strength of our core deposit base

Deposits ucbi.com | 8 Low - Cost Deposit Base Sufficient Liquidity to Support Future Growth Cost of Total Deposits (bps) (1 ) Loans / Deposits (1) (2 ) (3) 0 10 20 30 40 50 60 70 80 54 bps 33 bps 26 bps 72 bps 81% 94% 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 1Q19; KRX results as of 4Q18 (Source: S&P Global Market Intelligence ) 3) United results based on EOP balances; KRX results based on EOP balances 1Q19 cost of deposits moved to 62 bps and the deposit beta remained flat at 38% 44 bps KRX Peer

Loans ucbi.com | 9 $3.0 $2.9 $2.9 $1.7 $1.8 $1.9 $0.7 $0.8 $0.9 $1.9 $2.0 $1.9 $0.5 $0.3 $0.3 $0.4 $0.6 $0.6 $8.2 $8.4 $8.5 1Q18 4Q18 1Q19 C&I (1) CRE Comml Construction Residential Other Consumer Equipment Finance 23.2% 8.5% 20.7% 36.6% 22.4% 34.1% 10.5% 22.4% 3.5% 21.4% 34.6% 9.5% 23.8% 3.6% 7.1% 7.1% 4.9% 6.1% » Annualized linked quarter loan growth was $110 mm, or 5%; excluding the impact of planned indirect auto runoff of $27 mm, linked quarter loan growth was $137 mm, or 7% annualized » Commercial Construction up $70 mm » Equipment Financing up $41 mm » Diversified portfolio, weighted towards C&I » Well within regulatory guidance on construction and CRE levels » The 100%/300% ratios stand at 78% and 203%, respectively 1) C&I includes commercial and industrial loans as well as owner - occupied CRE loans $ in billions

Fee Revenue ucbi.com | 10 $8.9 $9.2 $8.5 $5.4 $6.6 $6.1 $0.9 $1.6 $1.3 $5.4 $3.1 $3.8 $1.8 $2.5 $1.3 1Q18 4Q18 1Q19 Service Charges Other Brokerage Mortgage SBA $22.4 $ 23.0 $ 21.0 » Vs. Linked quarter, fees down $2.0 mm due to : » Strong mortgage volume offset by $1.3 mm negative MSR mark; record number of mortgage locks up 23% in 1Q19 vs. 4Q18 » SBA fees lower than last quarter due to expected seasonality and the strategic decision to hold more loan production on balance sheet » Vs. Last Year, fees down $1.4 mm to $21.0 mm » Mortgage originations of $181 mm, down 6% year over year; locks up 8% in 1Q19 to $317 mm » 1Q19 SBA production of $37.6 mm, up 15% vs. 1Q18 » 1Q19 SBA loan sales of $17.1 mm, down 23% from $22.2 mm in 1Q18 $ in millions

57.8% 56.7% 55.3% 55.8% 55.8% 54.8% Expense Discipline ucbi.com | 11 $73.5 $78.2 $76.1 $70.8 $77.0 $75.3 1Q18 4Q18 1Q19 $ in millions Efficiency Ratio (1) GAAP Operating (1) 1) See non - GAAP reconciliation table slides at the end of the exhibits for a reconciliation of operating performance measures to GAAP performance measures » Linked quarter, GAAP and operating expenses decreased 3% and 2%, respectively » Salary and benefits expenses higher due to benefits expense and higher payroll taxes » Operating efficiency ratio improved 105 bps to 54.8% » Remaining expense categories mostly lower as 2018 cost control efforts materialize » Market expansions and acquisitions drove year - over - year GAAP and operating expenses higher by 4% and 6%, respectively » Continued cost control efforts help drive 97 bps of operating efficiency ratio improvement

Credit Quality ucbi.com | 12 0.08% 0.09% 0.15% 1Q18 4Q18 1Q19 Net Charge - Offs as % of Average Loans 0.24% 0.20% 0.20% 1Q18 4Q18 1Q19 Non - Performing Assets as % of Total Assets $3.8 $2.1 $3.3 1Q18 4Q18 1Q19 Provision for Credit Losses $ in millions 0.75% 0.73% 0.73% 1Q18 4Q18 1Q19 Allowance for Loan Losses

Capital Ratios ucbi.com | 13 Holding Company 1Q18 4Q18 1Q19* Common Equity Tier I Capital 11.3% 12.2% 12.4% Tier I Risk - Based Capital 11.6 12.4 12.7 Total Risk - Based Capital 13.5 14.3 14.6 Leverage 9.1 9.6 9.9 Tangible Common Equity to Tangible Assets 8.7 9.3 9.8 » Profitability continues to provide significant capital ratio improvement each quarter » All regulatory capital ratios significantly above “well - capitalized” » Quarterly dividend of $0.16 per share (up 33% YoY ) » 1Q share repurchase activity equated to 305,000, or $7.8 mm at an average price $25.70 » All cash First Madison acquisition will lever 2Q ratios modestly *1Q19 Capital Ratios are preliminary

Key Strengths ucbi.com | 14 » Culture and business model that attracts both bankers and potential acquisition partners » Positioned well in many of the South's fastest - growing markets » Superior customer service helps drive 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

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

Presentation Exhibits

Who We Are Full - Service Regional Bank with a Strong Culture Rooted in Sound Credit Underwriting & Growth ucbi.com | 17 Cultural Pillars Customer Service Is at Our Foundation High - Quality Balance Sheet » Underwriting conservatism and portfolio diversification » Top quartile credit quality performance » Prudent capital, liquidity and interest - rate risk management » Focused on improving return to shareholders with increasing ROTCE and dividend growth Profitability » Managing a steady margin with minimal accretion income » Fee revenue expansion through focused growth initiatives » Continued operating expense discipline while investing in growth opportunities » Executing on M&A cost savings » High - quality, low - cost core deposit base Growth » Addition of Commercial Banking Solutions platforms (middle - market banking, SBA lending, senior care, income - property lending, asset - based lending, builder finance, renewable energy, equipment finance) and actively pursuing additional lending platforms » Entered into and continue to target new markets with team lift - outs » Continuous emphasis on and enhancement of Mortgage product offerings to drive loan and revenue growth » Acquisitions that fit our footprint and culture and deliver desired financial returns

AWARDS AND RECOGNITION ucbi.com | 18

Who We Are Focused on High - Growth MSAs in Southeast ucbi.com | 19 Fastest Growing Southeast MSAs (1) 2019 - 2024 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 UCBI MSA Presence (Branch and or LPO) Note: 1) Includes MSAs with a population of greater than 300,000 2) Weighted by State deposits

New Loans Funded and Advances ucbi.com | 20 (1) $ in millions 1Q19 4Q18 1Q18 4Q18 1Q18 Commercial & Industrial 281.9$ 351.6$ 220.7$ (69.7)$ 61.2$ Owner-Occupied CRE 70.7 80.8 67.1 (10.1) 3.6 Income-Producing CRE 108.8 103.1 70.2 5.7 38.6 Commercial Constr. 165.6 161.5 145.6 4.1 20.0 Total Commercial 627.0 697.0 503.6 (70.0) 123.4 Residential Mortgage 30.0 32.9 38.3 (2.9) (8.3) Residential HELOC 51.8 56.0 53.6 (4.2) (1.8) Residential Construction 57.4 66.3 54.4 (8.9) 3.0 Consumer 16.1 16.1 15.8 - 0.3 Total 782.3$ 868.3$ 665.7$ (86.0)$ 116.6$ Variance-Incr(Decr) * New Loans Funded and Advances $665.7 $868.3 $782.3 1Q18 4Q18 1Q19 New Loans Funded and Advances by Region New Loans Funded and Advances by Category 1Q19 4Q18 1Q18 4Q18 1Q18 Atlanta 136.9$ 145.0$ 121.1$ (8.1)$ 15.8$ Coastal Georgia 54.1 27.1 39.3 27.0 14.8 North Georgia 62.2 60.2 60.2 2.0 2.0 North Carolina 80.6 77.0 35.9 3.6 44.7 Tennessee 17.8 53.9 28.8 (36.1) (11.0) Gainesville 17.8 28.0 10.9 (10.2) 6.9 South Carolina 121.6 159.3 131.4 (37.7) (9.8) Total Community Banks 491.0 550.5 427.6 (59.5) 63.4 Asset-based Lending 16.0 25.4 10.8 (9.4) 5.2 Commercial RE 21.5 34.8 33.7 (13.3) (12.2) Senior Care 37.3 33.1 36.1 4.2 1.2 Middle Market 24.0 23.6 6.9 0.4 17.1 SBA 37.6 46.7 32.7 (9.1) 4.9 Renewable Energy 0.8 5.6 8.5 (4.8) (7.7) Navitas 122.4 124.5 65.3 (2.1) 57.1 Builder Finance 31.7 24.1 44.1 7.6 (12.4) 291.3 317.8 238.1 (26.5) 53.2 Total 782.3$ 868.3$ 665.7$ (86.0)$ 116.6$ Variance-Incr(Decr) Total Commercial Banking Solutions 1) Represents new loans funded and net loan advances (net of payments on lines of credit)

Commercial RE Diversification – 3/31/2019 ucbi.com | 21 Assisted Living/Nursing Home/Rehab Cntr 326$ 22.7% 169$ 19.5 % Multi-Residential Properties 236 16.5 97 11.2 Residential Construction in Process: SPEC 133 9.3 81 9.4 Office Buildings 92 6.4 68 7.8 Hotels Motels 82 5.7 54 6.2 Retail Building 72 5.0 39 4.5 Residential Construction in Process: PRESOLD 66 4.6 42 4.9 Other Properties 60 4.2 40 4.6 Residential Land Development - Lots Already Developed in Hands of Builders 59 4.1 54 6.2 Vacant (Improved) 52 3.6 45 5.3 Residential Land Development - Subdivisions in Process 42 2.9 29 3.4 Warehouse 41 2.8 35 4.0 Raw Land - Vacant (Unimproved) 40 2.8 34 3.9 Self Storage 30 2.1 12 1.4 Mfg Facility 23 1.6 9 1.0 Restaurants /Franchise Fast Food / Franchise Other 17 1.2 12 1.3 Residential Raw Land in the Hands of Builders/Developers 14 1.0 13 1.5 Commercial Land Development 9 0.6 9 1.1 Churches 8 0.6 8 0.9 Negative Pledge 8 0.6 0 0.0 All Other 25 1.7 16 1.9 Total Commercial Construction 1,435$ 100% 866$ 100 % OutstandingCommitted Commercial Real Estate – Income Producing in millions Commercial Construction in millions Office Buildings 457$ 23.2 % 416$ 22.2 % Retail Building 347 17.6 329 17.6 Assisted Living/Nursing Home/Rehab Cntr 217 11.0 209 11.2 Investor Residential 187 9.5 182 9.7 Hotels Motels 182 9.3 177 9.5 Warehouse 175 8.9 170 9.1 Multi-Residential Properties 123 6.3 114 6.1 Other Properties 80 4.1 78 4.2 Self Storage 61 3.1 59 3.2 Restaurants /Franchise Fast Food / Franchise Other 52 2.7 50 2.7 Mfg Facility 25 1.3 25 1.4 Convenience Stores 21 1.1 20 1.1 Leasehold Property 15 0.8 15 0.8 Automotive Service 8 0.4 8 0.4 Mobile Home Parks 7 0.3 6 0.3 Automotive Dealership 4 0.2 4 0.2 All Other 5 0.2 5 0.3 Total Commercial Real Estate - Income Producing 1,966$ 100 % 1,867$ 100 % Committed Outstanding Outstanding Average Loan Size (in thousands ) » Commercial Construction $413 » Commercial RE: » Composite CRE 443 » Owner - Occupied 365 » Income - Producing 544 Committed Average Loan Size (in thousands ) » Commercial Construction $683 » Commercial RE: » Composite CRE 470 » Owner - Occupied 391 » Income - Producing 573

Strong Credit Culture ucbi.com | 22 BUILT TO OUTPERFORM IN THE NEXT CYCLE 1 . Process Change » In 2014, centralized and streamlined consumer underwriting and related functions » Significantly strengthened commercial process for approvals and monitoring 2. Add Significant Talent » CEO with deep knowledge and experience in credit » 2015 Rob Edwards brought in to lead team (BB&T, TD Bank) » Senior credit risk team now has large bank credit risk experience 3. Concentration Management: Size » In house project lending limit of $20 mm, legal lending limit of $332 mm » Relationship limit of $ 35 mm » $133 mm of SNC’s outstanding, $190 mm committed » Top 25 relationships = $628 mm, 7.4 % of total loans 4. Concentration Management: Geography » Four state franchise with mix of metro and rural markets 5. Concentration Management: Product » Construction/CRE ratio = 78%/203% » C&D > 30% in cycle, now 13.6% » Land in C&D $244 mm and shrinking » Navitas 7.14% of loans » Granular product concentration limits

Non - GAAP Reconciliation Tables ucbi.com | 23 $ in thousands, except per share data 1) Merger - related and other charges for 1Q19, 4Q18, 3Q18, 2Q18 and 1Q18 include $193 thousand, $269 thousand, $478 thousand, $593 thousand and $ 593 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of control agreements. The resulting intangible assets are being amortized over 12 to 24 months. 1Q18 2Q18 3Q18 4Q18 1Q19 (1) (1) (1) (1) (1) Net Income Net income - GAAP 37,658$ 39,634$ 43,682$ 45,137$ 44,262$ Merger-related and other charges 2,646 2,873 592 1,234 739 Tax benefit on merger-related and other charges (628) (121) (141) (604) (172) Net income - Operating 39,676$ 42,386$ 44,133$ 45,767$ 44,829$ Diluted Earnings per share Diluted earnings per share - GAAP 0.47$ 0.49$ 0.54$ 0.56$ 0.55$ Merger-related and other charges 0.03 0.04 0.01 0.01 0.01 Diluted earnings per share - Operating 0.50 0.53 0.55 0.57 0.56 Return on Assets Return on assets - GAAP 1.26 % 1.30 % 1.41 % 1.43 % 1.44 % Merger-related and other charges 0.07 0.09 0.01 0.02 0.01 Return on assets - Operating 1.33 % 1.39 % 1.42 % 1.45 % 1.45 % Book Value per share Book Value per share - GAAP 17.02$ 17.29$ 17.56$ 18.24$ 18.93$ Effect of goodwill and other intangibles (4.06) (4.04) (4.02) (4.00) (4.00) Tangible book value per share 12.96$ 13.25$ 13.54$ 14.24$ 14.93$

Non - GAAP Reconciliation Tables ucbi.com | 24 $ in thousands, except per share data 1Q18 2Q18 3Q18 4Q18 1Q19 (1) (1) (1) (1) (1) Return on Tangible Common Equity Return on common equity - GAAP 11.11 % 11.20 % 11.96 % 12.08 % 11.85 % Effect of merger-related and other charges 0.60 0.77 0.13 0.17 0.15 Return on common equity - Operating 11.71 11.97 12.09 12.25 12.00 Effect of goodwill and intangibles 3.55 3.82 3.72 3.63 3.46 Return on tangible common equity - Operating 15.26 % 15.79 % 15.81 % 15.88 % 15.46 % Expenses Expenses - GAAP 73,475$ 76,850$ 77,718$ 78,242$ 76,084$ Merger-related and other charges (2,646) (2,873) (592) (1,234) (739) Expenses - Operating 70,829$ 73,977$ 77,126$ 77,008$ 75,345$ Efficiency Ratio Efficiency Ratio - GAAP 57.83 % 57.94 % 56.82 % 56.73 % 55.32 % Merger-related and other charges (2.08) (2.17) (0.43) (0.90) (0.54) Efficiency Ratio - Operating 55.75 % 55.77 % 56.39 % 55.83 % 54.78 % 1) Merger - related and other charges for 1Q19, 4Q18, 3Q18, 2Q18 and 1Q18 include $193 thousand, $269 thousand, $478 thousand, $593 thousand and $ 593 thousand, respectively, of intangible amortization resulting from payments made to executives under their change of control agreements. The resulting intangible assets are being amortized over 12 to 24 months.