United Community Banks, Inc. Announces Third Quarter

Diluted earnings per share up six percent, to 38 cents, from third quarter 2016
Excluding merger-related and other non-operating charges,
diluted operating EPS up five percent, to 41 cents

Net interest revenue of $89.8 million, up $10.8 million or 14 percent from year ago
Net interest margin of 3.54 percent, up seven basis points from second quarter and up 20 basis points from year ago
Return on assets of 1.01 percent, or 1.09 percent excluding merger-related and other charges
Efficiency ratio of 59.3 percent, or 56.2 percent excluding merger-related and other charges
Completed the acquisition of Horry County State Bank during the quarter

BLAIRSVILLE, Ga., Oct. 24, 2017 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ:UCBI) (“United”) today announced strong third quarter results with meaningful margin expansion, disciplined expense management and sound credit quality. Net income was $27.9 million, or 38 cents per diluted share, compared with $25.9 million, or 36 cents per diluted share, for the third quarter of 2016.

On an operating basis, net income rose to $30.2 million for the third quarter of 2017 compared with $27.8 million for the third quarter of 2016. Third quarter 2017 operating net income excludes merger-related and other non-operating charges totaling $2.27 million, net of the associated income tax benefit. Third quarter 2016 operating net income excludes $1.96 million in merger-related charges, net of the associated income tax benefit. On a per diluted share basis, operating net income was 41 cents for the third quarter of 2017 compared with 39 cents for the third quarter of 2016.

At September 30, 2017, preliminary regulatory capital ratios were as follows. Tier 1 Risk-Based of 12.3 percent; Total Risk-Based of 13.0 percent; Common Equity Tier 1 Risk-Based of 12.2 percent, and Tier 1 Leverage of 9.3 percent.

“Our third quarter results demonstrate United bankers’ ability to overcome challenges and produce solid financial results,” said Jimmy Tallent, chairman and chief executive officer. “In the third quarter, we became subject to the Durbin amendment of the Dodd Frank Wall Street Reform and Consumer Protection Act which places a cap on the amount banks can charge merchants for debit card interchange fees. We also became subject to the large bank deposit insurance assessment model. The combined effect of these two items reduced our pre-tax earnings by approximately $3.4 million, or three cents per share, in the third quarter. We had been actively preparing for this for two years and our bankers were able to completely offset the impact through a higher net interest margin and disciplined expense controls.

“Despite these challenges and excluding merger-related and other non-operating charges, our third quarter operating efficiency ratio held steady at 56.2 percent, our best in more than a decade,” Tallent stated. “Including merger and other non-operating charges, the efficiency ratio was 59.3 percent. Clearly our bankers delivered solid financial performance by every measure.”

Tallent continued, “We also completed the acquisition of Horry County State Bank on July 31^st, significantly enhancing our presence in the Myrtle Beach area along the South Carolina coast. The acquisition of Horry County State Bank, which is part of our larger, ongoing expansion strategy in the high-growth South Carolina coast will accelerate our growth in this attractive market. We are all set for systems conversions in mid-November at which time we expect to achieve all of our cost savings.

“We are scheduled to complete our acquisition of Four Oaks Bank & Trust Company on November 1^st which will extend our footprint farther east in North Carolina to the fast-growing Raleigh MSA. All regulatory and shareholder approvals for the transaction have been received. We have long sought to enter this market and are delighted to find an exceptional partner in Four Oaks. I could not be more pleased with these two partnerships and look forward to them becoming part of United.

“Third quarter loan production was $617 million with $434 million originating from our community banks and $183 million from our Commercial Banking Solutions group,” Tallent added. “Linked-quarter loans were up $162 million, mostly reflecting the $216 million in net loans received through our acquisition of Horry County State Bank. Our indirect auto loan portfolio was down $48.7 million from second quarter reflecting our decision to suspend indirect auto loan purchases. Excluding the reduction in indirect auto loans and the loans acquired through the Horry acquisition, loan growth was essentially flat from second quarter.”

Third quarter net interest revenue totaled $89.8 million, up $10.8 million from the third quarter of 2016 and up $4.6 million from the second quarter. The increases from both periods reflect business growth and net interest margin expansions of 20 basis points from a year ago and seven basis points from the second quarter, mostly driven by rising short-term interest rates as well as the acquisition of Horry County State Bank which was completed on July 31, 2017. Horry County State Bank results are included in United’s financial results from the acquisition date.

The third quarter provision for credit losses was $1 million, up from $800,000 for the second quarter. This compares with a provision recovery of $300,000 in the third quarter of 2016. Third quarter net charge-offs totaled $1.6 million, equal to the second quarter of 2017 but up slightly from $1.4 million in the third quarter of 2016. Contributing to the low level of net charge-offs were continued strong recoveries of previously charged-off loans. Nonperforming assets were .23 percent of total assets at September 30, 2017, compared with .30 percent at September 30, 2016 and .24 percent at June 30, 2017.

“We continue to experience strong, steady credit quality and a low level of net charge-offs which is reflected in our low provision for loan losses,” Tallent commented. “Our credit quality indicators show no indication of credit deterioration and our outlook is for that to continue. We also expect our provision levels to gradually increase during the year due to loan growth, while our allowance and the related ratio to total loans will decline slightly.”

Third quarter fee revenue totaled $20.6 million, down $5.79 million from a year ago and down $3.11 million from the second quarter. The decrease from both prior periods was mostly due to lower debit card interchange fees as a result of the Durbin amendment becoming effective for United on July 1^st. The Durbin amendment, which places a cap on the amount of interchange banks can charge merchants for use of their debit cards, reduced United’s debit card interchange fees by approximately $2.7 million in the third quarter. Also contributing to the decrease from both prior periods were lower mortgage fees and lower customer derivative fees reflecting a less favorable interest rate environment.

Operating expenses were $65.7 million for the third quarter, compared with $64.0 million for the third quarter of 2016 and $63.2 million for the second quarter. Included in the third quarter’s operating expenses are $2.3 million in merger-related expenses and $1.1 million in surplus property impairment charges, totaling $3.4 million. We also had merger-related charges of $3.15 million in the third quarter of 2016, and merger-related and executive retirement charges totaling $1.83 million in the second quarter of 2017. Excluding these charges, third quarter operating expenses were $62.3 million compared with $61.4 million for the second quarter and $60.9 million a year ago. The $855,000 increase from the second quarter was mostly due to higher deposit insurance costs as a result of being assessed under the large bank deposit insurance assessment model effective July 1, and the operating expenses of Horry County State Bank acquired on July 31. These increases were partially offset by lower communications and equipment and advertising and public relations expense.

Tallent concluded, “Our bankers always meet every challenge with diligence and perseverance. That was certainly demonstrated with our third quarter financial results. Their passion and commitment drive our performance and ensure our success. Every day I become more encouraged about the opportunities that lie ahead knowing that our exceptional team of bankers will find success in everything they do. With Horry County State Bank and Four Oaks Bank & Trust Company, we have found two outstanding strategic partners in key growth markets that share our passion for banking and our commitment to customer service. I am excited about the opportunities that these acquisitions create to recruit other talented bankers from within these markets into the United family.”

Conference Call
United will hold a conference call today, Wednesday, October 25, 2017, at 11 a.m. ET to discuss the contents of this earnings release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 90798221. The conference call also will be webcast and available for replay for 30 days by selecting “Events & Presentations” within the Investor Relations section of United’s website at www.ucbi.com.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ:UCBI) is a bank holding company based in Blairsville, Georgia with $11.1 billion in assets. The company’s banking subsidiary, United Community Bank, is one of the southeast region’s largest full-service banks, operating 142 offices in Georgia, North Carolina, South Carolina and Tennessee. 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 four years, J.D. Power has ranked United Community Bank first in customer satisfaction in the Southeast. In 2017, for the fourth consecutive year, Forbes magazine included United on its list of the 100 Best Banks in America. Additional information about the company and the bank’s full range of products and services can be found at www.ucbi.com.

Non-GAAP Financial Measures
This News 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 share,” “operating net income available to common shareholders,” “operating diluted income per common 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.

Safe Harbor
This News Release contains forward-looking statements, as defined by federal securities laws, including statements about United’s financial outlook and business environment. These statements are based on current expectations and are provided to assist in the understanding of future financial performance. Such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements. For a discussion of some of the risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to United’s filings with the Securities and Exchange Commission, including our 2016 Annual Report on Form 10-K under the sections entitled “Forward-Looking Statements” and “Risk Factors.” Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements.

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Selected Financial Information

																					Third
	2017												2016								Quarter
	Third				Second				First				Fourth				Third				2017-2016
(in thousands, except per share data)	Quarter				Quarter				Quarter				Quarter				Quarter				Change
INCOME SUMMARY
Interest revenue	$	98,839			$	93,166			$	90,958			$	87,778			$	85,439
Interest expense		9,064				8,018				7,404				6,853				6,450
Net interest revenue		89,775				85,148				83,554				80,925				78,989			14		%
Provision for credit losses		1,000				800				800				-				(300	)
Fee revenue		20,573				23,685				22,074				25,233				26,361			(22	)
Total revenue		109,348				108,033				104,828				106,158				105,650			4
Expenses		65,674				63,229				62,826				61,321				64,023			3
Income before income tax expense		43,674				44,804				42,002				44,837				41,627			5
Income tax expense		15,728				16,537				18,478				17,616				15,753			-
Net income		27,946				28,267				23,524				27,221				25,874			8
Merger-related and other charges		3,420				1,830				2,054				1,141				3,152
Income tax benefit of merger-related and other charges		(1,147	)			(675	)			(758	)			(432	)			(1,193	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				976				-
Release of disproportionate tax effects lodged in OCI		-				-				3,400				-				-
Net income - operating ⁽¹⁾	$	30,219			$	29,422			$	28,220			$	28,906			$	27,833			9

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	.38			$	.39			$	.33			$	.38			$	.36			6
Diluted net income - operating ⁽¹⁾		.41				.41				.39				.40				.39			5
Cash dividends declared		.10				.09				.09				.08				.08
Book value		16.50				15.83				15.40				15.06				15.12			9
Tangible book value⁽³⁾		14.11				13.74				13.30				12.95				13.00			9

Key performance ratios:
Return on common equity - GAAP⁽²⁾⁽⁴⁾		9.22		%		9.98		%		8.54		%		9.89		%		9.61		%
Return on common equity - operating^(1)(2)(4)		9.97				10.39				10.25				10.51				10.34
Return on tangible common equity - operating^(1)(2)(3)(4)		11.93				12.19				12.10				12.47				12.45
Return on assets - GAAP⁽⁴⁾		1.01				1.06				.89				1.03				1.00
Return on assets - operating⁽¹⁾⁽⁴⁾		1.09				1.10				1.07				1.10				1.08
Dividend payout ratio - GAAP		26.32				23.08				27.27				21.05				22.22
Dividend payout ratio - operating ⁽¹⁾		24.39				21.95				23.08				20.00				20.51
Net interest margin (fully taxable equivalent)⁽⁴⁾		3.54				3.47				3.45				3.34				3.34
Efficiency ratio - GAAP		59.27				57.89				59.29				57.65				60.78
Efficiency ratio - operating ⁽¹⁾		56.18				56.21				57.35				56.58				57.79
Average equity to average assets		10.86				10.49				10.24				10.35				10.38
Average tangible equity to average assets⁽³⁾		9.45				9.23				8.96				9.04				8.98
Average tangible common equity to average assets⁽³⁾		9.45				9.23				8.96				9.04				8.98
Tangible common equity to risk-weighted assets⁽³⁾⁽⁵⁾		12.81				12.44				12.07				11.84				12.22

ASSET QUALITY
Nonperforming loans	$	22,921			$	23,095			$	19,812			$	21,539			$	21,572			6
Foreclosed properties		2,736				2,739				5,060				7,949				9,187			(70	)
Total nonperforming assets (NPAs)		25,657				25,834				24,872				29,488				30,759			(17	)
Allowance for loan losses		58,605				59,500				60,543				61,422				62,961			(7	)
Net charge-offs		1,635				1,623				1,679				1,539				1,359			20
Allowance for loan losses to loans		.81		%		.85		%		.87		%		.89		%		.94		%
Net charge-offs to average loans⁽⁴⁾		.09				.09				.10				.09				.08
NPAs to loans and foreclosed properties		.36				.37				.36				.43				.46
NPAs to total assets		.23				.24				.23				.28				.30

AVERAGE BALANCES ($ in millions)
Loans	$	7,149			$	6,980			$	6,904			$	6,814			$	6,675			7
Investment securities		2,800				2,775				2,822				2,690				2,610			7
Earning assets		10,133				9,899				9,872				9,665				9,443			7
Total assets		10,980				10,704				10,677				10,484				10,281			7
Deposits		8,913				8,659				8,592				8,552				8,307			7
Shareholders’ equity		1,193				1,123				1,093				1,085				1,067			12
Common shares - basic (thousands)		73,151				71,810				71,700				71,641				71,556			2
Common shares - diluted (thousands)		73,162				71,820				71,708				71,648				71,561			2

AT PERIOD END ($ in millions)
Loans	$	7,203			$	7,041			$	6,965			$	6,921			$	6,725			7
Investment securities		2,847				2,787				2,767				2,762				2,560			11
Total assets		11,129				10,837				10,732				10,709				10,298			8
Deposits		9,127				8,736				8,752				8,638				8,442			8
Shareholders’ equity		1,221				1,133				1,102				1,076				1,079			13
Common shares outstanding (thousands)		73,403				70,981				70,973				70,899				70,861			4

⁽¹⁾ Excludes merger-related and other charges which includes amortization of certain executive change of control benefits, a first quarter 2017 release of disproportionate tax effects lodged in OCI and a fourth quarter 2016 deferred tax asset impairment charge related to cancelled non-qualified stock options. ⁽²⁾ Net income available to common shareholders, which is net of preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). ⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization. ⁽⁴⁾ Annualized. ⁽⁵⁾ Third quarter 2017 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Selected Financial Information

	For the Nine
	Months Ended								YTD
	September 30,								2017-2016
(in thousands, except per share data)		2017				2016			Change
INCOME SUMMARY
Interest revenue	$	282,963			$	247,242
Interest expense		24,486				18,383
Net interest revenue		258,477				228,859			13		%
Provision for credit losses		2,600				(800	)
Fee revenue		66,332				68,464			(3	)
Total revenue		322,209				298,123			8
Expenses		191,729				179,968			7
Income before income tax expense		130,480				118,155			10
Income tax expense		50,743				44,720			13
Net income		79,737				73,435			9
Merger-related and other charges		7,304				6,981
Income tax benefit of merger-related and other charges		(2,580	)			(2,642	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		3,400				-
Net income - operating ⁽¹⁾	$	87,861			$	77,774			13

PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	1.10			$	1.02			8
Diluted net income - operating ⁽¹⁾		1.21				1.08			12
Cash dividends declared		.28				.22
Book value		16.50				15.12			9
Tangible book value⁽³⁾		14.11				13.00			9

Key performance ratios:
Return on common equity - GAAP⁽²⁾⁽⁴⁾		9.26		%		9.25		%
Return on common equity - operating^(1)(2)(4)		10.20				9.79
Return on tangible common equity - operating^(1)(2)(3)(4)		12.07				11.64
Return on assets - GAAP⁽⁴⁾		.99				.99
Return on assets - operating⁽¹⁾⁽⁴⁾		1.09				1.05
Dividend payout ratio - GAAP		25.45				21.57
Dividend payout ratio - operating ⁽¹⁾		23.14				20.37
Net interest margin (fully taxable equivalent)⁽⁴⁾		3.49				3.36
Efficiency ratio - GAAP		58.81				60.56
Efficiency ratio - operating ⁽¹⁾		56.57				58.21
Average equity to average assets		10.54				10.60
Average tangible equity to average assets⁽³⁾		9.21				9.27
Average tangible common equity to average assets⁽³⁾		9.21				9.24
Tangible common equity to risk-weighted assets⁽³⁾⁽⁵⁾		12.81				12.22

ASSET QUALITY
Nonperforming loans	$	22,921			$	21,572			6
Foreclosed properties		2,736				9,187			(70	)
Total nonperforming assets (NPAs)		25,657				30,759			(17	)
Allowance for loan losses		58,605				62,961			(7	)
Net charge-offs		4,937				5,227			(6	)
Allowance for loan losses to loans		.81		%		.94		%
Net charge-offs to average loans⁽⁴⁾		.09				.11
NPAs to loans and foreclosed properties		.36				.46
NPAs to total assets		.23				.30

AVERAGE BALANCES ($ in millions)
Loans	$	7,012			$	6,278			12
Investment securities		2,799				2,692			4
Earning assets		9,969				9,120			9
Total assets		10,788				9,909			9
Deposits		8,723				8,051			8
Shareholders’ equity		1,137				1,051			8
Common shares - basic (thousands)		72,060				71,992			-
Common shares - diluted (thousands)		72,071				71,996			-

AT PERIOD END ($ in millions)
Loans	$	7,203			$	6,725			7
Investment securities		2,847				2,560			11
Total assets		11,129				10,298			8
Deposits		9,127				8,442			8
Shareholders’ equity		1,221				1,079			13
Common shares outstanding (thousands)		73,403				70,861			4

⁽¹⁾ Excludes merger-related and other charges which includes amortization of certain executive change of control benefits, a first quarter 2017 release of disproportionate tax effects lodged in OCI and a fourth quarter 2016 deferred tax asset impairment charge related to cancelled non-qualified stock options. ⁽²⁾ Net income available to common shareholders, which is net of preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). ⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization. ⁽⁴⁾ Annualized. ⁽⁵⁾ Third quarter 2017 ratio is preliminary.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
Selected Financial Information


		2017												2016
	Third				Second				First				Fourth				Third
(in thousands, except per share data)	Quarter				Quarter				Quarter				Quarter				Quarter

Expense reconciliation
Expenses (GAAP)	$	65,674			$	63,229			$	62,826			$	61,321			$	64,023
Merger-related and other charges		(3,420	)			(1,830	)			(2,054	)			(1,141	)			(3,152	)
Expenses - operating	$	62,254			$	61,399			$	60,772			$	60,180			$	60,871

Net income reconciliation
Net income (GAAP)	$	27,946			$	28,267			$	23,524			$	27,221			$	25,874
Merger-related and other charges		3,420				1,830				2,054				1,141				3,152
Income tax benefit of merger-related and other charges		(1,147	)			(675	)			(758	)			(432	)			(1,193	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				976				-
Release of disproportionate tax effects lodged in OCI		-				-				3,400				-				-
Net income - operating	$	30,219			$	29,422			$	28,220			$	28,906			$	27,833

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	.38			$	.39			$	.33			$	.38			$	.36
Merger-related and other charges		.03				.02				.01				.01				.03
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				.01				-
Release of disproportionate tax effects lodged in OCI		-				-				.05				-				-
Diluted income per common share - operating	$	.41			$	.41			$	.39			$	.40			$	.39

Book value per common share reconciliation
Book value per common share (GAAP)	$	16.50			$	15.83			$	15.40			$	15.06			$	15.12
Effect of goodwill and other intangibles		(2.39	)			(2.09	)			(2.10	)			(2.11	)			(2.12	)
Tangible book value per common share	$	14.11			$	13.74			$	13.30			$	12.95			$	13.00

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.22		%		9.98		%		8.54		%		9.89		%		9.61		%
Merger-related and other charges		.75				.41				.47				.26				.73
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				.36				-
Release of disproportionate tax effects lodged in OCI		-				-				1.24				-				-
Return on common equity - operating		9.97				10.39				10.25				10.51				10.34
Effect of goodwill and other intangibles		1.96				1.80				1.85				1.96				2.11
Return on tangible common equity - operating		11.93		%		12.19		%		12.10		%		12.47		%		12.45		%

Return on assets reconciliation
Return on assets (GAAP)		1.01		%		1.06		%		.89		%		1.03		%		1.00		%
Merger-related and other charges		.08				.04				.05				.03				.08
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				.04				-
Release of disproportionate tax effects lodged in OCI		-				-				.13				-				-
Return on assets - operating		1.09		%		1.10		%		1.07		%		1.10		%		1.08		%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		26.32		%		23.08		%		27.27		%		21.05		%		22.22		%
Merger-related and other charges		(1.93	)			(1.13	)			(.98	)			(.54	)			(1.71	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-				-				(.51	)			-
Release of disproportionate tax effects lodged in OCI		-				-				(3.21	)			-				-
Dividend payout ratio - operating		24.39		%		21.95		%		23.08		%		20.00		%		20.51		%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		59.27		%		57.89		%		59.29		%		57.65		%		60.78		%
Merger-related and other charges		(3.09	)			(1.68	)			(1.94	)			(1.07	)			(2.99	)
Efficiency ratio - operating		56.18		%		56.21		%		57.35		%		56.58		%		57.79		%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.86		%		10.49		%		10.24		%		10.35		%		10.38		%
Effect of goodwill and other intangibles		(1.41	)			(1.26	)			(1.28	)			(1.31	)			(1.40	)
Tangible equity to assets		9.45				9.23				8.96				9.04				8.98
Effect of preferred equity		-				-				-				-				-
Tangible common equity to assets		9.45		%		9.23		%		8.96		%		9.04		%		8.98		%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		12.27		%		11.91		%		11.46		%		11.23		%		11.04		%
Effect of other comprehensive income		(.13	)			(.15	)			(.24	)			(.34	)			-
Effect of deferred tax limitation		.94				.95				1.13				1.26				1.50
Effect of trust preferred		(.24	)			(.25	)			(.25	)			(.25	)			(.26	)
Basel III intangibles transition adjustment		(.03	)			(.02	)			(.03	)			(.06	)			(.06	)
Tangible common equity to risk-weighted assets		12.81		%		12.44		%		12.07		%		11.84		%		12.22		%

⁽¹⁾ Third quarter 2017 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
Selected Financial Information


	For the Nine Months Ended June 30,
	For the Nine Months Ended June 30,
(in thousands, except per share data)		2017				2016

Expense reconciliation
Expenses (GAAP)	$	191,729			$	179,968
Merger-related and other charges		(7,304	)			(6,981	)
Expenses - operating	$	184,425			$	172,987

Net income reconciliation
Net income (GAAP)	$	79,737			$	73,435
Merger-related and other charges		7,304				6,981
Income tax benefit of merger-related and other charges		(2,580	)			(2,642	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		3,400				-
Net income - operating	$	87,861			$	77,774

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	1.10			$	1.02
Merger-related and other charges		.06				-
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		.05				-
Diluted income per common share - operating	$	1.21			$	1.02

Book value per common share reconciliation
Book value per common share (GAAP)	$	16.50			$	15.12
Effect of goodwill and other intangibles		(2.39	)			(2.12	)
Tangible book value per common share	$	14.11			$	13.00

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.26		%		9.25		%
Merger-related and other charges		.55				.54
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		.39				-
Return on common equity - operating		10.20				9.79
Effect of goodwill and other intangibles		1.87				1.85
Return on tangible common equity - operating		12.07		%		11.64		%

Return on assets reconciliation
Return on assets (GAAP)		.99		%		.99		%
Merger-related and other charges		.06				.06
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		.04				-
Return on assets - operating		1.09		%		1.05		%

Dividend payout ratio reconciliation
Dividend payout ratio (GAAP)		25.45		%		21.57		%
Merger-related and other charges		(1.31	)			(1.20	)
Impairment of deferred tax asset on canceled non-qualified stock options		-				-
Release of disproportionate tax effects lodged in OCI		(1.00	)			-
Dividend payout ratio - operating		23.14		%		20.37		%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		58.81		%		60.56		%
Merger-related and other charges		(2.24	)			(2.35	)
Efficiency ratio - operating		56.57		%		58.21		%

Average equity to assets reconciliation
Equity to assets (GAAP)		10.54		%		10.60		%
Effect of goodwill and other intangibles		(1.33	)			(1.33	)
Tangible equity to assets		9.21				9.27
Effect of preferred equity		-				(.03	)
Tangible common equity to assets		9.21		%		9.24		%

Tangible common equity to risk-weighted assets reconciliation ⁽¹⁾
Tier 1 capital ratio (Regulatory)		12.27		%		11.04		%
Effect of other comprehensive income		(.13	)			-
Effect of deferred tax limitation		.94				1.50
Effect of trust preferred		(.24	)			(.26	)
Basel III intangibles transition adjustment		(.03	)			(.06	)
Tangible common equity to risk-weighted assets		12.81		%		12.22		%

⁽¹⁾ Third quarter 2017 ratios are preliminary.

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Loan Portfolio Composition at Period-End


	2017						2016
	Third		Second		First		Fourth		Third
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,792	$	1,723	$	1,633	$	1,650	$	1,587
Income producing commercial RE		1,413		1,342		1,297		1,282		1,277
Commercial & industrial		1,084		1,088		1,080		1,070		994
Commercial construction		583		587		667		634		567
Total commercial		4,872		4,740		4,677		4,636		4,425
Residential mortgage		933		881		860		857		814
Home equity lines of credit		689		665		659		655		693
Residential construction		190		193		197		190		200
Consumer installment		519		562		572		583		593
Total loans	$	7,203	$	7,041	$	6,965	$	6,921	$	6,725

LOANS BY MARKET
North Georgia	$	1,047	$	1,065	$	1,076	$	1,097	$	1,110
Atlanta MSA		1,477		1,445		1,408		1,399		1,332
North Carolina		542		541		541		545		548
Coastal Georgia		634		623		591		581		565
Gainesville MSA		242		246		252		248		236
East Tennessee		471		486		483		504		506
South Carolina		1,470		1,260		1,243		1,233		1,199
Commercial Banking Solutions		920		926		911		855		763
Indirect auto		400		449		460		459		466
Total loans	$	7,203	$	7,041	$	6,965	$	6,921	$	6,725

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Loan Portfolio Composition at Period-End


	2017				2016		Linked Quarter Change			Year over Year Change
	Third		Second		Third
(in millions)	Quarter		Quarter		Quarter
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,792	$	1,723	$	1,587	$	69		$	205
Income producing commercial RE		1,413		1,342		1,277		71			136
Commercial & industrial		1,084		1,088		994		(4	)		90
Commercial construction		583		587		567		(4	)		16
Total commercial		4,872		4,740		4,425		132			447
Residential mortgage		933		881		814		52			119
Home equity lines of credit		689		665		693		24			(4	)
Residential construction		190		193		200		(3	)		(10	)
Consumer installment		519		562		593		(43	)		(74	)
Total loans	$	7,203	$	7,041	$	6,725		162			478

LOANS BY MARKET
North Georgia	$	1,047	$	1,065	$	1,110		(18	)		(63	)
Atlanta MSA		1,477		1,445		1,332		32			145
North Carolina		542		541		548		1			(6	)
Coastal Georgia		634		623		565		11			69
Gainesville MSA		242		246		236		(4	)		6
East Tennessee		471		486		506		(15	)		(35	)
South Carolina		1,470		1,260		1,199		210			271
Commercial Banking Solutions		920		926		763		(6	)		157
Indirect auto		400		449		466		(49	)		(66	)
Total loans	$	7,203	$	7,041	$	6,725		162			478

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Credit Quality


	Third Quarter 2017
	Nonperforming			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	5,027		$	764		$	5,791
Income producing CRE		2,042			121			2,163
Commercial & industrial		2,378			-			2,378
Commercial construction		1,376			923			2,299
Total commercial		10,823			1,808			12,631
Residential mortgage		8,559			392			8,951
Home equity lines of credit		1,898			195			2,093
Residential construction		178			341			519
Consumer installment		1,463			-			1,463
Total NPAs	$	22,921		$	2,736		$	25,657

NONPERFORMING ASSETS BY MARKET
North Georgia	$	6,707		$	404		$	7,111
Atlanta MSA		1,098			338			1,436
North Carolina		4,376			318			4,694
Coastal Georgia		2,532			-			2,532
Gainesville MSA		763			-			763
East Tennessee		1,734			67			1,801
South Carolina		1,903			1,609			3,512
Commercial Banking Solutions		2,429			-			2,429
Indirect auto		1,379			-			1,379
Total NPAs	$	22,921		$	2,736		$	25,657

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	23,095		$	2,739		$	25,834
Acquisitions		20			805			825
Loans placed on non-accrual		7,964			-			7,964
Payments received		(5,192	)		-			(5,192	)
Loan charge-offs		(2,159	)		-			(2,159	)
Foreclosures		(807	)		683			(124	)
Property sales		-			(1,295	)		(1,295	)
Write downs		-			(236	)		(236	)
Net gains (losses) on sales		-			40			40
Ending Balance	$	22,921		$	2,736		$	25,657

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Credit Quality


	Second Quarter 2017
	Nonperforming			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	5,248		$	580		$	5,828
Income producing CRE		2,587			-			2,587
Commercial & industrial		1,010			-			1,010
Commercial construction		2,530			611			3,141
Total commercial		11,375			1,191			12,566
Residential mortgage		7,886			457			8,343
Home equity lines of credit		2,152			201			2,353
Residential construction		287			890			1,177
Consumer installment		1,395			-			1,395
Total NPAs	$	23,095		$	2,739		$	25,834

NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,449		$	225		$	5,674
Atlanta MSA		906			423			1,329
North Carolina		4,700			472			5,172
Coastal Georgia		2,542			-			2,542
Gainesville MSA		622			-			622
East Tennessee		2,216			103			2,319
South Carolina		3,472			1,516			4,988
Commercial Banking Solutions		1,914			-			1,914
Indirect auto		1,274			-			1,274
Total NPAs	$	23,095		$	2,739		$	25,834

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	19,812		$	5,060		$	24,872
Acquisitions		-			-			-
Loans placed on non-accrual		8,110			-			8,110
Payments received		(2,955	)		-			(2,955	)
Loan charge-offs		(1,564	)		-			(1,564	)
Foreclosures		(308	)		481			173
Property sales		-			(2,704	)		(2,704	)
Write downs		-			(294	)		(294	)
Net gains (losses) on sales		-			196			196
Ending Balance	$	23,095		$	2,739		$	25,834

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Credit Quality


	First Quarter 2017
	Nonperforming			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	6,135		$	1,238		$	7,373
Income producing CRE		1,540			21			1,561
Commercial & industrial		929			-			929
Commercial construction		1,069			2,825			3,894
Total commercial		9,673			4,084			13,757
Residential mortgage		6,455			660			7,115
Home equity lines of credit		1,848			261			2,109
Residential construction		417			55			472
Consumer installment		1,419			-			1,419
Total NPAs	$	19,812		$	5,060		$	24,872

NONPERFORMING ASSETS BY MARKET
North Georgia	$	5,344		$	570		$	5,914
Atlanta MSA		715			645			1,360
North Carolina		4,897			355			5,252
Coastal Georgia		942			-			942
Gainesville MSA		728			-			728
East Tennessee		2,112			633			2,745
South Carolina		1,725			2,857			4,582
Commercial Banking Solutions		2,032			-			2,032
Indirect auto		1,317			-			1,317
Total NPAs	$	19,812		$	5,060		$	24,872

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	21,539		$	7,949		$	29,488
Acquisitions		-			-			-
Loans placed on non-accrual		3,172			-			3,172
Payments received		(3,046	)		-			(3,046	)
Loan charge-offs		(1,292	)		-			(1,292	)
Foreclosures		(561	)		561			-
Property sales		-			(3,077	)		(3,077	)
Write downs		-			(480	)		(480	)
Net gains (losses) on sales		-			107			107
Ending Balance	$	19,812		$	5,060		$	24,872

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Credit Quality


	Third Quarter 2017					Second Quarter 2017					First Quarter 2017
				Net Charge-					Net Charge-					Net Charge-
				Offs to					Offs to					Offs to
	Net			Average		Net			Average		Net			Average
(in thousands)	Charge-Offs			Loans⁽¹⁾		Charge-Offs			Loans⁽¹⁾		Charge-Offs			Loans⁽¹⁾
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	(44	)	(.01)	%	$	37		.01	%	$	(212	)	(.05)	%
Income producing CRE		1,159		.33			184		.06			870		.28
Commercial & industrial		(200	)	(.08)			354		.13			(152	)	(.06)
Commercial construction		(114	)	(.07)			341		.22			(370	)	(.23)
Total commercial		801		.07			916		.08			136		.01
Residential mortgage		313		.14			26		.01			530		.25
Home equity lines of credit		56		.03			253		.15			422		.26
Residential construction		36		.07			(53	)	(.11)			(9	)	(.02)
Consumer installment		429		.31			481		.34			600		.42
Total	$	1,635		.09		$	1,623		.09		$	1,679		.10

NET CHARGE-OFFS BY MARKET
North Georgia	$	516		.19	%	$	681		.26	%	$	15		.01	%
Atlanta MSA		150		.04			(10	)	-			(46	)	(.01)
North Carolina		221		.16			131		.10			601		.45
Coastal Georgia		(39	)	(.02)			120		.08			(223	)	(.15)
Gainesville MSA		(50	)	(.08)			(54	)	(.09)			358		.58
East Tennessee		55		.05			27		.02			55		.05
South Carolina		528		.15			526		.17			425		.14
Commercial Banking Solutions		(7	)	-			(17	)	(.01)			195		.09
Indirect auto		261		.24			219		.19			299		.27
Total	$	1,635		.09		$	1,623		.09		$	1,679		.10

⁽¹⁾ Annualized.

UNITED COMMUNITY BANKS, INC.
Consolidated Statement of Income (Unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
(in thousands, except per share data)		2017		2016			2017		2016

Interest revenue:
Loans, including fees	$	80,264	$	69,440		$	227,816	$	196,888
Investment securities, including tax exempt of $671, $134, $1,307, and $449		17,875		15,418			53,365		48,039
Deposits in banks and short-term investments		700		581			1,782		2,315
Total interest revenue		98,839		85,439			282,963		247,242

Interest expense:
Deposits:
NOW		700		452			1,932		1,381
Money market		1,953		1,347			4,938		3,661
Savings		34		43			89		102
Time		1,870		667			4,257		2,052
Total deposit interest expense		4,557		2,509			11,216		7,196
Short-term borrowings		36		98			177		278
Federal Home Loan Bank advances		1,709		1,015			4,603		2,731
Long-term debt		2,762		2,828			8,490		8,178
Total interest expense		9,064		6,450			24,486		18,383
Net interest revenue		89,775		78,989			258,477		228,859
(Release of) provision for credit losses		1,000		(300	)		2,600		(800	)
Net interest revenue after provision for credit losses		88,775		79,289			255,877		229,659

Fee revenue:
Service charges and fees		8,220		10,819			29,525		31,460
Mortgage loan and other related fees		4,200		6,039			13,435		13,776
Brokerage fees		1,009		1,199			3,565		3,369
Gains from sales of SBA/USDA loans		2,806		2,479			7,391		6,517
Securities gains, net		188		261			190		922
Other		4,150		5,564			12,226		12,420
Total fee revenue		20,573		26,361			66,332		68,464
Total revenue		109,348		105,650			322,209		298,123

Operating expenses:
Salaries and employee benefits		38,027		36,478			112,056		103,112
Communications and equipment		4,547		4,919			14,443		13,602
Occupancy		4,945		5,132			14,802		14,393
Advertising and public relations		1,026		1,088			3,347		3,275
Postage, printing and supplies		1,411		1,451			4,127		4,029
Professional fees		2,976		3,160			8,391		9,049
FDIC assessments and other regulatory charges		2,127		1,412			4,758		4,453
Amortization of intangibles		1,212		1,119			3,085		3,116
Merger-related and other charges		3,176		3,152			7,060		6,981
Other		6,227		6,112			19,660		17,958
Total operating expenses		65,674		64,023			191,729		179,968
Net income before income taxes		43,674		41,627			130,480		118,155
Income tax expense		15,728		15,753			50,743		44,720
Net income	$	27,946	$	25,874		$	79,737	$	73,435

Net income available to common shareholders	$	27,719	$	25,874		$	79,078	$	73,414

Earnings per common share:
Basic	$	.38	$	.36		$	1.10	$	1.02
Diluted		.38		.36			1.10		1.02
Weighted average common shares outstanding:
Basic		73,151		71,556			72,060		71,992
Diluted		73,162		71,561			72,071		71,996

UNITED COMMUNITY BANKS, INC.
Consolidated Balance Sheet (Unaudited)

	September 30,			December 31,
(in thousands, except share and per share data)		2017			2016

ASSETS
Cash and due from banks	$	98,396		$	99,489
Interest-bearing deposits in banks		148,449			117,859
Cash and cash equivalents		246,845			217,348
Securities available for sale		2,540,470			2,432,438
Securities held to maturity (fair value $310,446 and $333,170)		306,741			329,843
Mortgage loans held for sale (includes $30,093 and $27,891 at fair value)		30,292			29,878
Loans, net of unearned income		7,202,937			6,920,636
Less allowance for loan losses		(58,605	)		(61,422	)
Loans, net		7,144,332			6,859,214
Premises and equipment, net		193,915			189,938
Bank owned life insurance		167,680			143,543
Accrued interest receivable		29,573			28,018
Net deferred tax asset		128,731			154,336
Derivative financial instruments		20,972			23,688
Goodwill and other intangible assets		182,716			156,222
Other assets		136,760			144,189
Total assets	$	11,129,027		$	10,708,655
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Demand	$	2,918,428		$	2,637,004
NOW		1,938,352			1,989,763
Money market		1,934,169			1,846,440
Savings		605,230			549,713
Time		1,363,949			1,287,142
Brokered		367,256			327,496
Total deposits		9,127,384			8,637,558
Short-term borrowings		16,005			5,000
Federal Home Loan Bank advances		494,484			709,209
Long-term debt		135,707			175,078
Derivative financial instruments		22,926			27,648
Accrued expenses and other liabilities		111,881			78,427
Total liabilities		9,908,387			9,632,920
Shareholders' equity:
Common stock, $1 par value; 150,000,000 shares authorized;
73,403,453 and 70,899,114 shares issued and outstanding		73,403			70,899
Common stock issuable; 588,445 and 519,874 shares		8,703			7,327
Capital surplus		1,341,346			1,275,849
Accumulated deficit		(192,128	)		(251,857	)
Accumulated other comprehensive loss		(10,684	)		(26,483	)
Total shareholders' equity		1,220,640			1,075,735
Total liabilities and shareholders' equity	$	11,129,027		$	10,708,655

UNITED COMMUNITY BANKS, INC.
Average Consolidated Balance Sheets and Net Interest Analysis
For the Three Months Ended September 30,

				2017							2016
	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⁾	$	7,149,348		$	80,301	4.46	%	$	6,675,328		$	69,427		4.14	%
Taxable securities ⁽³⁾		2,695,162			17,204	2.55			2,588,037			15,284		2.36
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		105,151			1,098	4.18			22,113			219		3.96
Federal funds sold and other interest-earning assets		183,170			883	1.93			157,972			754		1.91

Total interest-earning assets (FTE)		10,132,831			99,486	3.90			9,443,450			85,684		3.61
Non-interest-earning assets:
Allowance for loan losses		(60,098	)						(63,874	)
Cash and due from banks		103,477							100,775
Premises and equipment		203,579							198,234
Other assets ⁽³⁾		599,725							602,690
Total assets	$	10,979,514						$	10,281,275

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,863,160			700	.15		$	1,744,473			452		.10
Money market		2,170,148			1,953	.36			1,997,165			1,347		.27
Savings		593,823			34	.02			537,447			43		.03
Time		1,338,786			1,548	.46			1,375,706			833		.24
Brokered time deposits		109,811			322	1.16			162,255			(166	)	(.41)
Total interest-bearing deposits		6,075,728			4,557	.30			5,817,046			2,509		.17

Federal funds purchased and other borrowings		11,313			36	1.26			42,234			98		.92
Federal Home Loan Bank advances		574,404			1,709	1.18			583,312			1,015		.69
Long-term debt		154,616			2,762	7.09			177,333			2,828		6.34
Total borrowed funds		740,333			4,507	2.42			802,879			3,941		1.95

Total interest-bearing liabilities		6,816,061			9,064	.53			6,619,925			6,450		.39
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,837,378							2,490,019
Other liabilities		133,212							103,859
Total liabilities		9,786,651							9,213,803
Shareholders' equity		1,192,863							1,067,472
Total liabilities and shareholders' equity	$	10,979,514						$	10,281,275

Net interest revenue (FTE)				$	90,422						$	79,234
Net interest-rate spread (FTE)						3.37	%							3.22	%

Net interest margin (FTE) ⁽⁴⁾						3.54	%							3.34	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate
used was 39%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.
⁽²⁾ Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.
⁽³⁾ Securities available for sale are shown at amortized cost. Pretax unrealized gains of $12.6 million in 2017 and $30.4 million in 2016 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,

				2017							2016
	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⁾	$	7,011,962		$	227,853	4.34	%	$	6,277,972		$	196,956		4.19	%
Taxable securities ⁽³⁾		2,731,081			52,058	2.54			2,665,272			47,590		2.38
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		68,005			2,139	4.19			26,415			735		3.71
Federal funds sold and other interest-earning assets		157,582			2,290	1.94			150,146			2,719		2.41

Total interest-earning assets (FTE)		9,968,630			284,340	3.81			9,119,805			248,000		3.63
Non-interest-earning assets:
Allowance for loan losses		(60,971	)						(66,142	)
Cash and due from banks		102,529							93,802
Premises and equipment		195,576							187,019
Other assets ⁽³⁾		582,194							574,870
Total assets	$	10,787,958						$	9,909,354

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,907,889			1,932	.14		$	1,795,372			1,381		.10
Money market		2,100,296			4,938	.31			1,901,903			3,661		.26
Savings		576,927			89	.02			505,337			102		.03
Time		1,292,521			3,499	.36			1,280,503			2,325		.24
Brokered time deposits		106,753			758	.95			194,199			(273	)	(.19)
Total interest-bearing deposits		5,984,386			11,216	.25			5,677,314			7,196		.17

Federal funds purchased and other borrowings		22,525			177	1.05			29,427			278		1.26
Federal Home Loan Bank advances		616,388			4,603	1.00			506,524			2,731		.72
Long-term debt		168,271			8,490	6.75			168,955			8,178		6.47
Total borrowed funds		807,184			13,270	2.20			704,906			11,187		2.12

Total interest-bearing liabilities		6,791,570			24,486	.48			6,382,220			18,383		.38
Non-interest-bearing liabilities:
Non-interest-bearing deposits		2,738,118							2,374,076
Other liabilities		121,672							102,421
Total liabilities		9,651,360							8,858,717
Shareholders' equity		1,136,598							1,050,637
Total liabilities and shareholders' equity	$	10,787,958						$	9,909,354

Net interest revenue (FTE)				$	259,854						$	229,617
Net interest-rate spread (FTE)						3.33	%							3.25	%

Net interest margin (FTE) ⁽⁴⁾						3.49	%							3.36	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate
used was 39%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.
⁽²⁾ Included in the average balance of loans outstanding are loans where the accrual of interest has been discontinued and loans that are held for sale.
⁽³⁾ Securities available for sale are shown at amortized cost. Pretax unrealized gains of $4.67 million in 2017 and $15.1 million in 2016 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.

For more information:
Jefferson Harralson
Chief Financial Officer
(706) 781-2265
Jefferson_Harralson@ucbi.com

United Community Banks, Inc. Announces Third Quarter Earnings

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