United Community Banks, Inc. Reports Third Quarter Earnings

Third Quarter Results Reflect Execution of Significant Strategic Initiatives, Strong Core Loan Growth, and Robust Deposit Growth

GREENVILLE, S.C., Oct. 20, 2026 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced financial results for the quarter ended September 30, 2026, which included 9.8% annualized core loan growth, 8.0% annualized core customer deposit growth, and a stable margin following six consecutive quarters of margin expansion.

Chairman and CEO Lynn Harton stated, “Our third quarter results reflect key strategic actions that simplify our balance sheet, reduce risk, and strengthen future operating performance. We completed the acquisition of Peach State Bank on August 1, the sale of our Navitas equipment finance business on September 1, and the restructuring of our investment portfolio in early September. The restructuring shortened duration and significantly improved the yield on our portfolio. At the same time, we achieved high single-digit growth in both core loans and customer deposits in the quarter, reflecting strong momentum resulting from our investment in hiring top talent. New loan production exceeded $1 billion for the second consecutive quarter. The strategies executed in the third quarter position us very well for the future, as demonstrated by improvements in operating return on assets, return on tangible common equity, and operating efficiency ratio.”

In the third quarter, United sold its Navitas equipment finance business for $2.0 billion in cash proceeds, a 7% premium to par. Following the sale, $2.2 billion in held-to-maturity securities were reclassified to available-for-sale designation and long-dated, low yielding securities with an amortized cost basis of $2.5 billion were subsequently sold. The securities repositioning resulted in $2.1 billion of cash proceeds, which, together with the $2.0 billion of Navitas sale proceeds, were redeployed into higher-yielding securities and used to pay down borrowings. Additionally, United completed the acquisition of Peach State Bancshares in the third quarter, increasing density in a dynamic growth market through a complementary, low-risk transaction.

Harton continued, “The actions completed in the third quarter allow us to focus on growing the core banking business within our outstanding Southeast footprint. We believe these actions, including our strong liquidity and capital, position us well for long-term success.”

Third Quarter 2026 Financial Highlights:

• EPS of $(1.16) on a GAAP basis and $0.77 on an operating basis, compared to $0.95 and $0.71, respectively, in the second quarter of 2026. GAAP EPS reflects strategic actions executed in the third quarter to improve the long-term company performance, including the completion of the sale of our equipment finance business and repositioning of our investment securities portfolio.
• Net loss of $139.7 million reflects strategic actions taken during the third quarter. Adjusting for those items, operating net income was $93.7 million in the third quarter, up 8% from the second quarter.
• Total revenue of $(12.0) million resulted from the strategic actions taken in the third quarter. Adjusted for the gain from the sale of Navitas and the loss on the investment portfolio restructuring, which net to $304 million, total operating revenue was $292 million, up from $279 million in the second quarter.
• Net interest margin of 3.68% increased by 10 basis points year-over-year and was stable from the second quarter of 2026.
• Provision for credit losses totaled $10.0 million, including net charge-offs of $4.0 million, or 0.09% of loans for the third quarter.
  • Allowance for credit losses coverage was 1.05% of total loans, up one basis point from June 30, 2026.
• Noninterest expense increased $2.3 million on a GAAP basis and decreased $3.3 million on an operating basis, compared to the second quarter.
• Third quarter income taxes reflect the specific tax rates applicable to the Navitas sale and investment securities losses, as well as a higher core effective tax rate resulting from higher estimated pre-tax income and certain discrete items recognized in the quarter.
• GAAP efficiency ratio is not meaningful due to the securities losses incurred in the third quarter. Operating efficiency ratio improved to 53.1% from 56.7% in the second quarter.
• Loan growth of $444 million, or 9.8% annualized, from the second quarter, excluding the impact of Peach State and Navitas.
• Customer deposits were up $473 million, or 8.0% annualized, from the second quarter, excluding deposits received from the Peach State acquisition.
• Peach State contributed $520 million of loans and $678 million of deposits at the time of the acquisition.
• Return on assets was (1.89%) on a GAAP basis and 1.27% on an operating basis. Operating return on assets improved 5 bps from the second quarter.
• Return on common equity on a GAAP basis and return on tangible common equity on an operating basis were (14.8%) and 13.9%, respectively.
• Repurchased 1.395 million common shares at an average price of $35.81 per share for an aggregate of $50 million in the third quarter. The Board also approved an incremental $100 million share repurchase authorization through the end of 2027, bringing the current outstanding repurchase authorization to $113 million.
• Maintained strong capital ratios with preliminary Common Equity Tier 1 of 13.0%.
• Quarterly common dividend increased to $0.26 per share declared during the quarter, up 4% year over year.
  
  

Year to Date 2026 Financial Highlights:

• Net income of $60.2 million, lowered by strategic actions taken in the third quarter. Net income – operating of $265 million, compared with $249 million in 2025.
• Diluted earnings per share of $0.49, or $2.18 on an operating basis compared with operating earnings per share of $2.00 in 2025.
• Total revenue of $544 million, or $843 million on an operating basis, up 7% from 2025.
• Return on assets of 0.28%, or 1.24% on an operating basis up from 1.19% operating return on assets for 2025.
• Pre-tax, pre-provision return on assets of 1.76% on an operating basis up from 1.70% operating pre-tax, pre-provision return on assets for 2025.
• Return on common equity of 2.18%, or 9.58% on an operating basis compared with 8.92% operating return on common equity for 2025.
• Operating return on tangible common equity of 13.3%, up from 12.6% for 2025.
  
  

Additional details about the previously announced strategic actions taken in the third quarter are available under “Events and Presentations” in the “News and Events” section of the Investor Relations page on the company's website, ucbi.com, or directly at https://ir.ucbi.com/events/event-details/strategic-initiatives-conference-call.

Conference Call
United will hold a conference call on Tuesday, October 20, 2026 at 8:30 a.m. ET to discuss the contents of this press release and to share business highlights for the quarter. Participants can pre-register for the conference call by navigating to https://dpregister.com/sreg/10209322/1040c6adc70. Those without internet access or unable to pre-register may dial in by calling 1-844-676-1337. The conference call also will be webcast and may be accessed by selecting “Events and Presentations” under “News and Events” within the Investor Relations section of the company's website, ucbi.com.

UNITED COMMUNITY BANKS, INC.
Selected Financial Information
(in thousands, except per share data)
			2026												2025							Third Quarter 2026 - 2025 Change			For the Nine Months Ended September 30,								YTD 2026 - 2025 Change
		Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter								2026				2025
INCOME SUMMARY
Interest revenue		$	362,560			$	344,371			$	333,961			$	346,367			$	353,850						$	1,040,892			$	1,036,572
Interest expense			111,354				103,471				101,197				108,441				120,221							316,022				365,391
Net interest revenue			251,206				240,900				232,764				237,926				233,629			8	%			724,870				671,181			8	%
Noninterest income			(263,172	)			38,380				43,746				40,462				43,219			n/m				(181,046	)			113,583			n/m
Total revenue			(11,966	)			279,280				276,510				278,388				276,848			n/m				543,824				784,764			(31	)
Provision for credit losses			10,013				(29,803	)			10,853				13,662				7,907			n/m				(8,937	)			35,144			n/m
Noninterest expense			162,241				159,915				157,302				152,048				150,868			8				479,458				439,886			9
Income (loss) before income tax expense			(184,220	)			149,168				108,355				112,678				118,073			n/m				73,303				309,734			(76	)
Income tax (benefit) expense			(44,475	)			33,530				24,066				26,223				26,579			n/m				13,121				68,094			(81	)
Net (loss) income			(139,745	)			115,638				84,289				86,455				91,494			n/m				60,182				241,640			(75	)
Non-operating items			310,380				(37,582	)			508				606				3,468							273,306				9,598
Income tax related to non-operating items			(76,932	)			8,347				(113	)			(133	)			(751	)						(68,698	)			(2,079	)
Net income - operating (1)		$	93,703			$	86,403			$	84,684			$	86,928			$	94,211			(1	)		$	264,790			$	249,159			6
Pre-tax pre-provision income (5)		$	(174,207	)		$	119,365			$	119,208			$	126,340			$	125,980			n/m			$	64,366			$	344,878			(81	)
PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP		$	(1.16	)		$	0.95			$	0.69			$	0.70			$	0.70			n/m			$	0.49			$	1.91			(74	)
Diluted net income - operating (1)			0.77				0.71				0.70				0.71				0.75			3				2.18				2.00			9
Cash dividends declared			0.26				0.25				0.25				0.25				0.25			4				0.76				0.73			4
Book value			29.27				31.27				30.54				30.17				29.44			(1	)			29.27				29.44			(1	)
Tangible book value (3)			20.80				23.31				22.56				22.24				21.59			(4	)			20.80				21.59			(4	)
Key performance ratios:
Return on common equity - GAAP (2)(4)			(14.85	)%			12.56	%			9.35	%			9.48	%			9.20	%						2.18	%			8.53	%
Return on common equity - operating (1)(2)(4)			9.95				9.39				9.39				9.53				9.83							9.58				8.92
Return on tangible common equity - operating (1)(2)(3)(4)			13.90				12.98				13.05				13.31				13.56							13.32				12.57
Return on assets - GAAP (4)			(1.89	)			1.63				1.22				1.21				1.29							0.28				1.16
Return on assets - operating (1)(4)			1.27				1.22				1.22				1.22				1.33							1.24				1.19
Return on assets - pre-tax pre-provision, excluding non-operating items (1)(4)(5)			1.84				1.70				1.73				1.78				1.83							1.76				1.70
Net interest margin (fully taxable equivalent) (4)			3.68				3.68				3.65				3.62				3.58							3.67				3.48
Efficiency ratio - GAAP		n/m					57.01				56.66				54.40				54.30							87.58				55.86
Efficiency ratio - operating (1)			53.11				56.69				55.65				54.19				53.05							55.12				54.64
Equity to total assets			12.14				12.89				12.97				12.99				12.78							12.14				12.78
Tangible common equity to tangible assets (3)			8.95				9.94				9.92				9.92				9.71							8.95				9.71
ASSET QUALITY
Nonperforming assets ("NPAs")		$	81,270			$	103,387			$	98,623			$	93,498			$	97,916			(17	)		$	81,270			$	97,916			(17	)
ACL - funded loans			179,143				168,705				208,396				210,429				215,791			(17	)			179,143				215,791			(17	)
ACL - total			200,237				188,329				225,996				225,520				228,276			(12	)			200,237				228,276			(12	)
Net charge-offs			3,973				7,864				10,377				16,418				7,676			(48	)			22,214				25,508			(13	)
ACL - funded loans to loans			0.94	%			0.94	%			1.06	%			1.09	%			1.13	%						0.94	%			1.13	%
ACL - total to loans			1.05				1.04				1.15				1.16				1.19							1.05				1.19
Net charge-offs to average loans HFI (4)			0.09				0.16				0.22				0.34				0.16							0.15				0.18
NPAs to total assets			0.28				0.36				0.35				0.33				0.35							0.28				0.35
AT PERIOD END ($ in millions)
Loans held for investment		$	18,988			$	18,024			$	19,602			$	19,384			$	19,175			(1	)		$	18,988			$	19,175			(1	)
Investment securities			6,641				6,377				5,889				5,988				6,163			8				6,641				6,163			8
Total assets			28,882				29,051				28,177				28,003				28,143			3				28,882				28,143			3
Deposits			24,888				23,724				24,025				23,798				24,021			4				24,888				24,021			4
Shareholders’ equity			3,507				3,745				3,655				3,639				3,597			(3	)			3,507				3,597			(3	)
Common shares outstanding (thousands)			119,827				119,764				119,684				120,598				121,553			(1	)			119,827				121,553			(1	)
(1) Excludes non-operating items as detailed on Non-GAAP Performance Measures Reconciliation. (2) Net income less preferred stock dividends, divided by average common equity. (3) Excludes effect of acquisition related intangibles and associated amortization. (4) Annualized. (5) Excludes income tax expense and provision for credit losses.

UNITED COMMUNITY BANKS, INC.
Loan Portfolio Composition at Period-End
			2026												2025							Linked Quarter Change				Year over Year Change
(in millions)		Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
LOANS BY CATEGORY
Owner occupied commercial RE		$	4,336			$	4,117			$	4,041			$	3,950			$	3,678			$	219			$	658
Income producing commercial RE			5,217				5,018				4,984				5,032				4,534				199				683
Commercial & industrial (1)			2,976				2,859				2,771				2,696				2,593				117				383
Commercial construction & land			1,360				1,143				1,072				998				1,734				217				(374	)
Equipment financing (1)			—				—				1,897				1,848				1,808				—				(1,808	)
Total commercial			13,889				13,137				14,765				14,524				14,347				752				(458	)
Residential mortgage			3,198				3,101				3,122				3,157				3,198				97				—
Home equity			1,504				1,403				1,344				1,319				1,252				101				252
Residential construction & land			211				195				185				191				178				16				33
Consumer			195				193				187				188				192				2				3
Other			(9	)			(5	)			(1	)			5				8				(4	)			(17	)
Total loans held for investment		$	18,988			$	18,024			$	19,602			$	19,384			$	19,175			$	964			$	(187	)
LOANS BY MARKET
Georgia		$	5,336			$	4,662			$	4,617			$	4,635			$	4,584			$	674			$	752
South Carolina			3,180				3,130				3,037				2,971				2,926				50				254
North Carolina			2,786				2,706				2,722				2,712				2,676				80				110
Tennessee			1,979				1,962				1,895				1,913				1,902				17				77
Florida			3,398				3,283				3,229				3,102				3,040				115				358
Alabama			1,114				1,082				1,049				1,050				1,054				32				60
Commercial Banking Solutions (2)			1,195				1,199				3,053				3,001				2,993				(4	)			(1,798	)
Total loans held for investment		$	18,988			$	18,024			$	19,602			$	19,384			$	19,175			$	964			$	(187	)
(1) Substantially all equipment financing loans were transferred to held for sale in the second quarter of 2026 as a result of the then-pending sale of Navitas Credit Corp, which subsequently closed on September 1, 2026. Retained equipment financing loans were reclassified to the commercial & industrial line. (2) Reduction in the second quarter of 2026 reflects the transfer of substantially all equipment financing loans to held for sale.

UNITED COMMUNITY BANKS, INC.
Credit Quality
(in thousands)
			2026
		Third Quarter				Second Quarter				First Quarter
NONACCRUAL LOANS
Owner occupied RE		$	12,002			$	20,027			$	18,265
Income producing RE			10,880				11,655				11,037
Commercial & industrial			16,585				21,147				19,890
Commercial construction & land			106				916				17
Equipment financing(1)			—				—				8,024
Total commercial			39,573				53,745				57,233
Residential mortgage			31,444				30,506				31,906
Home equity			6,060				6,435				6,209
Residential construction & land			281				338				355
Consumer			962				977				1,009
Total nonaccrual loans held for investment			78,320				92,001				96,712
Equipment finance nonaccrual loans held for sale (1)			—				9,392				—
OREO and repossessed assets			2,950				1,994				1,911
Total NPAs		$	81,270			$	103,387			$	98,623
(1) Substantially all equipment financing loans were transferred to held for sale in the second quarter of 2026 and were subsequently sold in the sale of Navitas Credit Corp. on September 1, 2026. Retained equipment financing loans were reclassified to the commercial & industrial loan category, as equipment financing is no longer an individually significant loan category.

			2026
		Third Quarter							Second Quarter							First Quarter
(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 (RECOVERIES) BY CATEGORY
Owner occupied RE		$	837			0.08	%		$	(3,447	)		(0.34	)%		$	666			0.07	%
Income producing RE			(17	)		—				57			—				(85	)		(0.01	)
Commercial & industrial			2,281			0.32				6,859			0.97				3,309			0.50
Commercial construction & land			(23	)		(0.01	)			(22	)		(0.01	)			6			—
Equipment financing (2)			—			n/m				3,697			0.78				5,835			1.29
Total commercial			3,078			0.09				7,144			0.19				9,731			0.27
Residential mortgage			84			0.01				57			0.01				133			0.02
Home equity			(141	)		(0.04	)			(24	)		(0.01	)			(54	)		(0.02	)
Residential construction & land			107			0.20				(6	)		(0.01	)			12			0.03
Consumer			845			1.73				693			1.47				555			1.21
Total		$	3,973			0.09			$	7,864			0.16			$	10,377			0.22
(1) Annualized. (2) Retained equipment financing loans and related charge-offs were reclassified to the commercial & industrial loan category, as equipment financing is no longer an individually significant loan category.

UNITED COMMUNITY BANKS, INC. Consolidated Balance Sheets(Unaudited)
(in thousands, except share and per share data)		September 30, 2026				December 31, 2025
ASSETS
Cash and due from banks		$	125,069			$	202,586
Interest-bearing deposits in banks			656,536				193,168
Cash and cash equivalents			781,605				395,754
Trading securities			93,760				—
Debt securities available-for-sale			6,546,796				3,750,863
Debt securities held-to-maturity (fair value $1,918,426 at December 31, 2025)			—				2,237,356
Mortgage loans held for sale			34,493				39,381
Loans held for investment			18,988,195				19,384,317
Less allowance for credit losses - loans			(179,143	)			(210,429	)
Loans, net			18,809,052				19,173,888
Premises and equipment, net			409,533				393,714
Bank-owned life insurance			376,000				364,184
Goodwill and other intangible assets, net			1,026,915				967,882
Other assets			803,883				679,532
Total assets		$	28,882,037			$	28,002,554
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand		$	6,751,068			$	6,252,252
NOW and interest-bearing demand			5,762,468				5,969,864
Money market			7,376,074				6,696,530
Savings			1,093,655				1,085,331
Time			3,733,490				3,619,189
Brokered			171,102				175,264
Total deposits			24,887,857				23,798,430
Short-term borrowings			—				85,000
Long-term debt			39,686				120,400
Accrued expense and other liabilities			447,187				360,038
Total liabilities			25,374,730				24,363,868
Shareholders' equity:
Common stock, $1 par value; 200,000,000 shares authorized, 119,827,028 and 120,598,266 shares issued and outstanding, respectively			119,827				120,598
Capital surplus			2,724,987				2,754,399
Retained earnings			882,021				914,261
Accumulated other comprehensive loss			(219,528	)			(150,572	)
Total shareholders' equity			3,507,307				3,638,686
Total liabilities and shareholders' equity		$	28,882,037			$	28,002,554

UNITED COMMUNITY BANKS, INC. Consolidated Statements of Income (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(in thousands, except per share data)			2026				2025				2026				2025
Interest revenue:
Loans, including fees		$	301,420			$	297,929			$	883,109			$	860,269
Securities:
Taxable			52,839				51,522				141,969				162,885
Tax-exempt			1,540				1,681				4,857				5,030
Other			6,761				2,718				10,957				8,388
Total interest revenue			362,560				353,850				1,040,892				1,036,572
Interest expense:
Deposits:
NOW and interest-bearing demand			27,877				35,050				84,124				109,396
Money market			45,747				50,661				127,596				149,805
Savings			489				641				1,452				2,722
Time			29,485				32,123				86,558				94,622
Deposits			103,598				118,475				299,730				356,545
Short-term borrowings			2,546				25				5,097				1,215
Federal Home Loan Bank advances			4,684				—				8,667				433
Long-term debt			526				1,721				2,528				7,198
Total interest expense			111,354				120,221				316,022				365,391
Net interest revenue			251,206				233,629				724,870				671,181
Noninterest income:
Service charges and fees			11,640				11,400				31,560				31,057
Mortgage loan gains and other related fees			10,714				7,098				25,523				18,590
Wealth management fees			4,897				4,757				14,458				13,622
Net gains from sales of other loans			63,222				2,385				66,062				5,776
Lending and loan servicing fees			3,332				4,235				11,401				12,090
Securities (losses) gains, net			(366,101	)			49				(365,970	)			341
Other			9,124				13,295				35,920				32,107
Total noninterest income			(263,172	)			43,219				(181,046	)			113,583
Total revenue			(11,966	)			276,848				543,824				784,764
Provision for credit losses			10,013				7,907				(8,937	)			35,144
Noninterest expense:
Salaries and employee benefits			96,443				90,667				293,934				261,931
Communications and equipment			14,127				13,937				41,972				40,968
Occupancy			11,184				11,502				34,141				33,366
Advertising and public relations			2,485				2,053				7,590				6,815
Postage, printing and supplies			2,515				2,735				8,016				7,791
Professional fees			7,420				6,282				19,864				17,822
Lending and loan servicing expense			2,231				2,428				7,918				6,745
Outside services - electronic banking			3,849				3,543				10,963				9,876
FDIC assessments and other regulatory charges			4,900				4,846				11,496				14,233
Amortization of intangibles			3,348				3,313				9,349				9,891
Merger-related and other charges			6,509				3,468				8,277				9,598
Other			7,230				6,094				25,938				20,850
Total noninterest expense			162,241				150,868				479,458				439,886
(Loss) income before income taxes			(184,220	)			118,073				73,303				309,734
Income tax (benefit) expense			(44,475	)			26,579				13,121				68,094
Net (loss) income			(139,745	)			91,494				60,182				241,640
Preferred stock dividends and deemed dividend at redemption			—				4,848				—				7,994
Earnings and dividends allocated to participating securities			243				507				639				1,356
Net (loss) income available to common shareholders		$	(139,988	)		$	86,139			$	59,543			$	232,290
Net (loss) income per common share:
Basic		$	(1.16	)		$	0.71			$	0.49			$	1.92
Diluted			(1.16	)			0.70				0.49				1.91
Weighted average common shares outstanding:
Basic			120,456				122,116				120,419				121,186
Diluted			120,456				122,252				120,654				121,303

UNITED COMMUNITY BANKS, INC. Average Consolidated Balance Sheets and Net Interest Analysis For the Three Months Ended September 30,
			2026											2025
(dollars in thousands, fully taxable equivalent (FTE))		Average Balance				Interest				Average Rate			Average Balance				Interest				Average Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) (1)(2)		$	19,797,609			$	302,229			6.06	%		$	19,010,663			$	297,725			6.21	%
Taxable securities (3)			6,318,792				52,839			3.34				6,217,693				51,522			3.31
Tax-exempt securities (FTE) (1)(3)			259,744				2,052			3.16				351,528				2,249			2.56
Other interest-earning assets			814,949				6,761			3.29				413,678				3,389			3.25
Total interest-earning assets (FTE)			27,191,094				363,881			5.32				25,993,562				354,885			5.42
Noninterest-earning assets:
Allowance for credit losses			(174,371	)										(220,805	)
Cash and due from banks			141,941											206,772
Premises and equipment			409,860											397,490
Other assets (3)			1,773,946											1,664,648
Total assets		$	29,342,470										$	28,041,667
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand		$	5,673,191				27,877			1.95			$	5,825,997				35,050			2.39
Money market			7,252,005				45,747			2.50				6,907,894				50,661			2.91
Savings			1,096,916				489			0.18				1,107,509				641			0.23
Time			3,717,565				29,060			3.10				3,656,172				31,602			3.43
Brokered time deposits			50,699				425			3.33				50,529				521			4.09
Total interest-bearing deposits			17,790,376				103,598			2.31				17,548,101				118,475			2.68
Federal funds purchased and other borrowings			270,956				2,546			3.73				2,284				25			4.34
Federal Home Loan Bank advances			479,674				4,684			3.87				—				—			—
Long-term debt			33,414				526			6.25				155,197				1,721			4.40
Total borrowed funds			784,044				7,756			3.92				157,481				1,746			4.40
Total interest-bearing liabilities			18,574,420				111,354			2.38				17,705,582				120,221			2.69
Noninterest-bearing liabilities:
Noninterest-bearing deposits			6,594,562											6,366,723
Other liabilities			439,078											334,443
Total liabilities			25,608,060											24,406,748
Shareholders' equity			3,734,410											3,634,919
Total liabilities and shareholders' equity		$	29,342,470										$	28,041,667
Net interest revenue (FTE)						$	252,527										$	234,664
Net interest-rate spread (FTE)										2.94	%										2.73	%
Net interest margin (FTE) (4)										3.68	%										3.58	%
(1) Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $1.32 million and $1.04 million, respectively, for the three months ended September 30, 2026 and 2025. The tax rate used to calculate the adjustment was 25%, 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 on which the accrual of interest has been discontinued. (3) Unrealized gains and losses on AFS securities, including those related to the transfer from AFS to HTM have been reclassified to other assets. Pretax unrealized losses of $207 million in 2026 and $223 million in 2025 are included in other assets for purposes of this presentation. (4) Net interest margin is taxable equivalent net interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC. Average Consolidated Balance Sheets and Net Interest Analysis For the Nine Months Ended September 30,
			2026											2025
(dollars in thousands, fully taxable equivalent (FTE))		Average Balance				Interest				Average Rate			Average Balance				Interest				Average Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE) (1)(2)		$	19,641,031			$	885,136			6.03	%		$	18,632,384			$	859,678			6.17	%
Taxable securities (3)			6,077,529				141,969			3.11				6,480,641				162,885			3.35
Tax-exempt securities (FTE) (1)(3)			315,238				6,480			2.74				354,115				6,730			2.53
Other interest-earning assets			495,951				10,957			2.95				422,123				10,288			3.26
Total interest-earning assets (FTE)			26,529,749				1,044,542			5.26				25,889,263				1,039,581			5.37
Non-interest-earning assets:
Allowance for loan losses			(200,588	)										(217,050	)
Cash and due from banks			163,633											210,027
Premises and equipment			399,958											397,395
Other assets (3)			1,720,642											1,637,493
Total assets		$	28,613,394										$	27,917,128
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand		$	5,759,773				84,124			1.95			$	6,002,702				109,396			2.44
Money market			6,956,477				127,596			2.45				6,713,585				149,805			2.98
Savings			1,093,764				1,452			0.18				1,133,078				2,722			0.32
Time			3,677,005				85,198			3.10				3,545,792				93,029			3.51
Brokered time deposits			53,843				1,360			3.38				50,488				1,593			4.22
Total interest-bearing deposits			17,540,862				299,730			2.28				17,445,645				356,545			2.73
Federal funds purchased and other borrowings			182,712				5,097			3.73				29,865				1,215			5.44
Federal Home Loan Bank advances			299,963				8,667			3.86				12,824				433			4.51
Long-term debt			68,443				2,528			4.94				215,440				7,198			4.47
Total borrowed funds			551,118				16,292			3.95				258,129				8,846			4.58
Total interest-bearing liabilities			18,091,980				316,022			2.34				17,703,774				365,391			2.76
Noninterest-bearing liabilities:
Noninterest-bearing deposits			6,428,647											6,304,792
Other liabilities			397,842											350,211
Total liabilities			24,918,469											24,358,777
Shareholders' equity			3,694,925											3,558,351
Total liabilities and shareholders' equity		$	28,613,394										$	27,917,128
Net interest revenue (FTE)						$	728,520										$	674,190
Net interest-rate spread (FTE)										2.92	%										2.61	%
Net interest margin (FTE) (4)										3.67	%										3.48	%
(1) Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $3.65 million and $3.01 million, respectively, for the nine months ended September 30, 2026 and 2025. The tax rate used to calculate the adjustment was 25%, 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 on which the accrual of interest has been discontinued and loans that are held for sale. (3) Unrealized gains and losses on AFS securities, including those related to the transfer from AFS to HTM have been reclassified to other assets. Pretax unrealized losses of $192 million in 2026 and $244 million in 2025 are included in other assets for purposes of this presentation. (4) Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
Selected Financial Information
(in thousands, except per share data)
			2026												2025							For the Nine Months Ended September 30,
		Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter					2026				2025
Noninterest income reconciliation
Noninterest income (GAAP)		$	(263,172	)		$	38,380			$	43,746			$	40,462			$	43,219			$	(181,046	)		$	113,583
Loss on securities portfolio repositioning			366,101				—				—				—				—				366,101				—
Gain on sale on Navitas			(62,230	)			—				—				—				—				(62,230	)			—
Gain on terminated cash flow hedge			—				—				(5,184	)			—				—				(5,184	)			—
Noninterest income - operating		$	40,699			$	38,380			$	38,562			$	40,462			$	43,219			$	117,641			$	113,583
Total revenue reconciliation
Total revenue (GAAP)		$	(11,966	)		$	279,280			$	276,510			$	278,388			$	276,848			$	543,824			$	784,764
Loss on securities portfolio repositioning			366,101				—				—				—				—				366,101				—
Gain on sale on Navitas			(62,230	)			—				—				—				—				(62,230	)			—
Gain on terminated cash flow hedge			—				—				(5,184	)			—				—				(5,184	)			—
Total revenue - operating		$	291,905			$	279,280			$	271,326			$	278,388			$	276,848			$	842,511			$	784,764
Provision for credit losses reconciliation
Provision for credit losses (GAAP)		$	10,013			$	(29,803	)		$	10,853			$	13,662			$	7,907			$	(8,937	)		$	35,144
Release of ACL on equipment finance loans			—				38,477				—				—				—				38,477				—
Provision for credit losses - operating		$	10,013			$	8,674			$	10,853			$	13,662			$	7,907			$	29,540			$	35,144
Noninterest expense reconciliation
Noninterest expense (GAAP)		$	162,241			$	159,915			$	157,302			$	152,048			$	150,868			$	479,458			$	439,886
Payroll transition bonus			—				—				(6,704	)			—				—				(6,704	)			—
FDIC special assessment accrual reversal			—				—				1,885				—				—				1,885				—
Merger-related and other charges			(6,509	)			(895	)			(873	)			(606	)			(3,468	)			(8,277	)			(9,598	)
Noninterest expense - operating		$	155,732			$	159,020			$	151,610			$	151,442			$	147,400			$	466,362			$	430,288
Net income to operating income reconciliation
Net income (GAAP)		$	(139,745	)		$	115,638			$	84,289			$	86,455			$	91,494			$	60,182			$	241,640
Loss on securities portfolio repositioning			366,101				—				—				—				—				366,101				—
Gain on sale on Navitas			(62,230	)			—				—				—				—				(62,230	)			—
Gain on terminated cash flow hedge			—				—				(5,184	)			—				—				(5,184	)			—
Release of ACL on equipment finance loans			—				(38,477	)			—				—				—				(38,477	)			—
Payroll transition bonus			—				—				6,704				—				—				6,704				—
FDIC special assessment accrual reversal			—				—				(1,885	)			—				—				(1,885	)			—
Merger-related and other charges			6,509				895				873				606				3,468				8,277				9,598
Income tax benefit of non-operating items			(76,932	)			8,347				(113	)			(133	)			(751	)			(68,698	)			(2,079	)
Net income - operating		$	93,703			$	86,403			$	84,684			$	86,928			$	94,211			$	264,790			$	249,159
Net income to pre-tax pre-provision income reconciliation
Net income (GAAP)		$	(139,745	)		$	115,638			$	84,289			$	86,455			$	91,494			$	60,182			$	241,640
Income tax (benefit) expense			(44,475	)			33,530				24,066				26,223				26,579				13,121				68,094
Provision for credit losses			10,013				(29,803	)			10,853				13,662				7,907				(8,937	)			35,144
Pre-tax pre-provision income		$	(174,207	)		$	119,365			$	119,208			$	126,340			$	125,980			$	64,366			$	344,878
Diluted income per common share reconciliation
Diluted income per common share (GAAP)		$	(1.16	)		$	0.95			$	0.69			$	0.70			$	0.70			$	0.49			$	1.91
Loss on securities portfolio repositioning			2.28				—				—				—				—				2.27				—
Gain on sale on Navitas			(0.39	)			—				—				—				—				(0.39	)			—
Gain on terminated cash flow hedge			—				—				(0.03	)			—				—				(0.03	)			—
Release of ACL on equipment finance loans			—				(0.25	)			—				—				—				(0.25	)			—
Payroll transition bonus			—				—				0.04				—				—				0.04				—
FDIC special assessment accrual reversal			—				—				(0.01	)			—				—				(0.01	)			—
Merger-related and other charges			0.04				0.01				0.01				0.01				0.02				0.06				0.06
Deemed dividend on preferred stock redemption			—				—				—				—				0.03				—				0.03
Diluted income per common share - operating		$	0.77			$	0.71			$	0.70			$	0.71			$	0.75			$	2.18			$	2.00
Book value per common share reconciliation
Book value per common share (GAAP)		$	29.27			$	31.27			$	30.54			$	30.17			$	29.44			$	29.27			$	29.44
Effect of goodwill and other intangibles			(8.47	)			(7.96	)			(7.98	)			(7.93	)			(7.85	)			(8.47	)			(7.85	)
Tangible book value per common share		$	20.80			$	23.31			$	22.56			$	22.24			$	21.59			$	20.80			$	21.59
Return on tangible common equity reconciliation
Return on common equity (GAAP)			(14.85	)%			12.56	%			9.35	%			9.48	%			9.20	%			2.18	%			8.53	%
Loss on securities portfolio repositioning			29.30				—				—				—				—				9.98				—
Gain on sale on Navitas			(5.03	)			—				—				—				—				(1.71	)			—
Gain on terminated cash flow hedge			—				—				(0.45	)			—				—				(0.15	)			—
Release of ACL on equipment finance loans			—				(3.25	)			—				—				—				(1.08	)			—
Payroll transition bonus			—				—				0.58				—				—				0.19				—
FDIC special assessment accrual reversal			—				—				(0.16	)			—				—				(0.05	)			—
Merger-related and other charges			0.53				0.08				0.07				0.05				0.29				0.22				0.27
Deemed dividend on preferred stock redemption			—				—				—				—				0.34				—				0.12
Return on common equity - operating			9.95				9.39				9.39				9.53				9.83				9.58				8.92
Effect of goodwill and other intangibles			3.95				3.59				3.66				3.78				3.73				3.74				3.65
Return on tangible common equity - operating			13.90	%			12.98	%			13.05	%			13.31	%			13.56	%			13.32	%			12.57	%
Return on assets reconciliation
Return on assets (GAAP)			(1.89	)%			1.63	%			1.22	%			1.21	%			1.29	%			0.28	%			1.16	%
Loss on securities portfolio repositioning			3.73				—				—				—				—				1.29				—
Gain on sale on Navitas			(0.64	)			—				—				—				—				(0.22	)			—
Gain on terminated cash flow hedge			—				—				(0.06	)			—				—				(0.02	)			—
Release of ACL on equipment finance loans			—				(0.42	)			—				—				—				(0.14	)			—
Payroll transition bonus			—				—				0.07				—				—				0.02				—
FDIC special assessment accrual reversal			—				—				(0.02	)			—				—				(0.01	)			—
Merger-related and other charges			0.07				0.01				0.01				0.01				0.04				0.04				0.03
Return on assets - operating			1.27	%			1.22	%			1.22	%			1.22	%			1.33	%			1.24	%			1.19	%
Return on assets to return on assets- pre-tax pre-provision reconciliation
Return on assets (GAAP)			(1.89	)%			1.63	%			1.22	%			1.21	%			1.29	%			0.28	%			1.16	%
Income tax expense			(0.60	)			0.47				0.35				0.37				0.38				0.06				0.33
Provision for credit losses			0.14				(0.42	)			0.16				0.19				0.11				(0.04	)			0.17
Loss on securities portfolio repositioning			4.95				—				—				—				—				1.71				—
Gain on sale on Navitas			(0.84	)			—				—				—				—				(0.29	)			—
Gain on terminated cash flow hedge			—				—				(0.08	)			—				—				(0.02	)			—
Payroll transition bonus			—				—				0.10				—				—				0.03				—
FDIC special assessment accrual reversal			—				—				(0.03	)			—				—				(0.01	)			—
Merger-related and other charges			0.08				0.02				0.01				0.01				0.05				0.04				0.04
Return on assets - pre-tax pre-provision - operating			1.84	%			1.70	%			1.73	%			1.78	%			1.83	%			1.76	%			1.70	%
Efficiency ratio reconciliation
Efficiency ratio (GAAP)		n/m					57.01	%			56.66	%			54.40	%			54.30	%			87.58	%			55.86	%
Loss on securities portfolio repositioning		n/m					—				—				—				—				(35.09	)			—
Gain on sale on Navitas		n/m					—				—				—				—				3.84				—
Gain on terminated cash flow hedge			—				—				1.03				—				—				0.35				—
Payroll transition bonus			—				—				(2.41	)			—				—				(0.79	)			—
FDIC special assessment accrual reversal			—				—				0.68				—				—				0.22				—
Merger-related and other charges			(2.22	)			(0.32	)			(0.31	)			(0.21	)			(1.25	)			(0.99	)			(1.22	)
Efficiency ratio - operating			53.11	%			56.69	%			55.65	%			54.19	%			53.05	%			55.12	%			54.64	%
Tangible common equity to tangible assets reconciliation
Equity to total assets (GAAP)			12.14	%			12.89	%			12.97	%			12.99	%			12.78	%			12.14	%			12.78	%
Effect of goodwill and other intangibles			(3.19	)			(2.95	)			(3.05	)			(3.07	)			(3.07	)			(3.19	)			(3.07	)
Tangible common equity to tangible assets			8.95	%			9.94	%			9.92	%			9.92	%			9.71	%			8.95	%			9.71	%

About United Community Banks, Inc.
United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community Bank (United Community), a top-100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of September 30, 2026, United had $28.9 billion in assets and operated 202 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise, extending its reach to businesses across the country. United Community is the most awarded bank in the Southeast for Retail Banking Customer Satisfaction by J.D. Power, earning more awards than any other bank in the region, including recognition in 12 of the last 17 years. The company has also been named one of the “Best Banks to Work For” by American Banker for nine consecutive years. In commercial banking, United Community earned multiple 2026 Greenwich Best Bank awards for Small Business Banking. Forbes has consistently named United Community among the World’s Best and America’s Best Banks. Learn more at 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 “noninterest income – operating”, “total revenue – operating”, “noninterest expense - operating”, “provision for credit losses – operating”, “operating net income,” “pre-tax, pre-provision 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,” “return on assets - pre-tax, pre-provision - operating,” “return on assets - pre-tax, pre-provision,” “operating efficiency ratio,” and “tangible common equity to tangible 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
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. 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.

Factors that could cause or contribute to such differences include, but are not limited to general competitive, economic, political, regulatory and market conditions. Further information regarding additional factors which could affect the forward-looking statements contained in this press release can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2025, and other documents subsequently filed by United with the United States Securities and Exchange Commission (“SEC”).

Many of these factors are beyond United’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and United undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for United to predict their occurrence or how they will affect United.

United qualifies all forward-looking statements by these cautionary statements.

For more information:
Tom Speir
Chief Financial Officer
(864) 240-6208
Investor_Relations@ucbi.com