United Community Banks, Inc. Reports Third Quarter Earnings

United Community Banks, Inc. Reports Third Quarter Earnings
Strong Loan Growth and Margin Expansion Drive Higher Revenue and EPS

GlobeNewswire

October 22, 2025

GREENVILLE, S.C., Oct. 22, 2025 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NYSE: UCB) (United) today announced net income for the third quarter of 2025 of $91.5 million and pre-tax, pre-provision income of $126.0 million. Diluted earnings per share of $0.70 for the quarter represented an increase of $0.32 from the third quarter a year ago and an increase of $0.07 from the second quarter. Note that the third quarter of 2024 included losses from the sale of United's manufactured housing loan portfolio.

On an operating basis, United's diluted earnings per share of $0.75 were up 32% from the year-ago quarter. Strong 27% year-over-year revenue growth and a lower provision for credit losses were partly offset by higher expenses.

United's return on assets was 1.29%, or 1.33% on an operating basis, up from 0.67% and 1.01%, respectively for the third quarter of 2024. Return on common equity was 9.2% and return on tangible common equity on an operating basis was 13.6%. On a pre-tax, pre-provision basis, operating return on assets was 1.83% for the quarter. At quarter-end, tangible common equity to tangible assets was 9.71%, up 26 basis points from the second quarter.

Chairman and CEO Lynn Harton stated, “We are proud of our third quarter financial results. Our teams drove solid loan and deposit growth as well as healthy margin expansion. These actions resulted in meaningful improvement in our return on assets and return on tangible common equity. Tangible book value per share grew by $0.59 from the second quarter – an 11% annualized rate. Loans grew by $254 million, or 5.4% annualized, while customer deposits, excluding seasonal outflow of public funds, were up $137 million or 2.6% annualized. Non-interest bearing deposits, excluding public funds, grew at an annualized rate of 4.7%. Operating efficiency and operating leverage also both continued their improving trend.”

Harton continued, “I want to thank our outstanding team members across the bank for continuing to deliver not only great financial results, but also exceptional customer service and an atmosphere of trust and caring that makes United a great place to work.”

Net charge-offs were $7.7 million or 0.16% annualized of average loans, down two basis points from the second quarter. Nonperforming assets were 0.35% of total assets, up slightly from 0.30% for the second quarter. Provision for credit losses improved by $3.9 million from the second quarter. As of September 30, the allowance for credit losses represents 1.19% of loans, down slightly from 1.21% at June 30.

Third Quarter 2025 Financial Highlights:

EPS of $0.70 was up $0.32 on a GAAP basis compared to third quarter 2024, and EPS of $0.75 was up $0.18, or 32%, on an operating basis; EPS up $0.07 compared to the second quarter on a GAAP basis and up $0.09, or 14%, on an operating basis
Net income of $91.5 million and pre-tax, pre-provision income of $126.0 million, up $12.8 million and $13.7 million, respectively, from the second quarter
Total revenue of $276.8 million improved $16.6 million, or 6%, from the second quarter
Net interest margin of 3.58% increased by eight basis points from the second quarter, reflecting a lower cost of funds and improving asset mix
Noninterest income was up $8.5 million on a linked quarter basis mostly due to gains on other investments, death benefit claims on bank owned life insurance, and a favorable mark on our mortgage servicing rights asset
Provision for credit losses was $7.9 million, down $3.9 million from the second quarter; allowance for credit losses coverage down slightly to 1.19% of total loans; net charge-offs were $7.7 million, or 0.16% annualized of average loans, an improvement of two basis points compared to the second quarter
Noninterest expenses were up $2.9 million compared to the second quarter on a GAAP basis and up $4.3 million on an operating basis, primarily driven by performance-based incentives
Efficiency ratio of 54.3% on a GAAP basis, or 53.1% on an operating basis, improved both linked quarter and year over year
Strong loan production led to loan growth of $254 million, up 5.4% annualized, from the second quarter
Mortgage closings of $283 million compared to $239 million in third quarter 2024; mortgage rate locks of $388 million compared to $306 million in third quarter 2024
Customer deposits were up $58 million from the second quarter, public funds deposits seasonally down $79 million from the second quarter; excluding public funds, customer deposits were up $137 million, including $73 million of noninterest-bearing demand deposits
Return on assets of 1.29%, or 1.33% on an operating basis
Return on common equity and return on tangible common equity on an operating basis improved from the second quarter to 9.2% and 13.6%, respectively
Redeemed preferred stock with a book value of $88.3 million, representing all outstanding preferred shares
Maintained strong capital ratios with preliminary Common Equity Tier 1 of 13.4%
Increased quarterly common dividend to $0.25 per share declared during the quarter, up 4% year-over-year

Conference Call
United will hold a conference call on Wednesday, October 22 at 9:00 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/10203186/fff7baf488. Those without internet access or unable to pre-register may dial in by calling 1-844-676-1337. Participants are encouraged to dial in 15 minutes prior to the call start time. The conference call also will be webcast and can 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)*
		2025									2024					Third Quarter 2025 – 2024 Change		For the Nine Months Ended September 30,						YTD 2025 – 2024 Change
	Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Third Quarter 2025 – 2024 Change			2025			2024		YTD 2025 – 2024 Change
INCOME SUMMARY
Interest revenue	$	353,850		$	347,365		$	335,357		$	344,962		$	349,086				$	1,036,572		$	1,032,779
Interest expense		120,221			121,834			123,336			134,629			139,900					365,391			415,744
Net interest revenue		233,629			225,531			212,021			210,333			209,186		12	%		671,181			617,035		9	%
Noninterest income		43,219			34,708			35,656			40,522			8,091		n/m			113,583			84,234		35
Total revenue		276,848			260,239			247,677			250,855			217,277		27			784,764			701,269		12
Provision for credit losses		7,907			11,818			15,419			11,389			14,428					35,144			39,562
Noninterest expense		150,868			147,919			141,099			143,056			143,065		5			439,886			435,111		1
Income before income tax expense		118,073			100,502			91,159			96,410			59,784		97			309,734			226,596		37
Income tax expense		26,579			21,769			19,746			20,606			12,437		114			68,094			50,003		36
Net income		91,494			78,733			71,413			75,804			47,347		93			241,640			176,593		37
Non-operating items		3,468			4,833			1,297			2,203			29,385					9,598			38,065
Income tax benefit of non-operating items		(751	)		(1,047	)		(281	)		(471	)		(6,276	)				(2,079	)		(8,231	)
Net income – operating ⁽¹⁾	$	94,211		$	82,519		$	72,429		$	77,536		$	70,456		34		$	249,159		$	206,427		21
Pre-tax pre-provision income ⁽⁵⁾	$	125,980		$	112,320		$	106,578		$	107,799		$	74,212		70		$	344,878		$	266,158		30
PERFORMANCE MEASURES
Per common share:
Diluted net income – GAAP	$	0.70		$	0.63		$	0.58		$	0.61		$	0.38		84		$	1.91		$	1.43		34
Diluted net income – operating ⁽¹⁾		0.75			0.66			0.59			0.63			0.57		32			2.00			1.67		20
Cash dividends declared		0.25			0.24			0.24			0.24			0.24		4			0.73			0.70		4
Book value		29.44			28.89			28.42			27.87			27.68		6			29.44			27.68		6
Tangible book value ⁽³⁾		21.59			21.00			20.58			20.00			19.66		10			21.59			19.66		10
Key performance ratios:
Return on common equity – GAAP ⁽²⁾⁽⁴⁾		9.20	%		8.45	%		7.89	%		8.40	%		5.20	%				8.53	%		6.61	%
Return on common equity – operating ^(1)(2)(4)		9.83			8.87			8.01			8.60			7.82					8.92			7.76
Return on tangible common equity – operating ^(1)(2)(3)(4)		13.56			12.34			11.21			12.12			11.17					12.57			11.18
Return on assets – GAAP ⁽⁴⁾		1.29			1.11			1.02			1.06			0.67					1.16			0.85
Return on assets – operating ⁽¹⁾⁽⁴⁾		1.33			1.16			1.04			1.08			1.01					1.19			0.99
Return on assets – pre-tax pre-provision, excluding non-operating items ^(1)(4)(5)		1.83			1.66			1.55			1.55			1.50					1.70			1.48
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.58			3.50			3.36			3.26			3.33					3.48			3.30
Efficiency ratio – GAAP		54.30			56.69			56.74			56.05			65.51					55.86			61.76
Efficiency ratio – operating ⁽¹⁾		53.05			54.84			56.22			55.18			57.37					54.64			57.84
Equity to total assets		12.78			12.86			12.56			12.38			12.45					12.78			12.45
Tangible common equity to tangible assets ⁽³⁾		9.71			9.45			9.18			8.97			8.93					9.71			8.93
ASSET QUALITY
Nonperforming assets (“NPAs”)	$	97,916		$	83,959		$	93,290		$	115,635		$	114,960		(15	)	$	97,916		$	114,960		(15	)
Allowance for credit losses – loans		215,791			216,500			211,974			206,998			205,290		5			215,791			205,290		5
Allowance for credit losses – total		228,276			228,045			223,201			217,389			215,517		6			228,276			215,517		6
Net charge-offs		7,676			8,225			9,607			9,517			23,651		n/m			25,508			48,173		n/m
Allowance for credit losses – loans to loans		1.13	%		1.14	%		1.15	%		1.14	%		1.14	%				1.13	%		1.14	%
Allowance for credit losses – total to loans		1.19			1.21			1.21			1.20			1.20					1.19			1.20
Net charge-offs to average loans ⁽⁴⁾		0.16			0.18			0.21			0.21			0.52					0.18			0.35
NPAs to total assets		0.35			0.30			0.33			0.42			0.42					0.35			0.42
AT PERIOD END ($ in millions)
Loans	$	19,175		$	18,921		$	18,425		$	18,176		$	17,964		7		$	19,175		$	17,964		7
Investment securities		6,163			6,382			6,661			6,804			6,425		(4	)		6,163			6,425		(4	)
Total assets		28,143			28,086			27,874			27,720			27,373		3			28,143			27,373		3
Deposits		24,021			23,963			23,762			23,461			23,253		3			24,021			23,253		3
Shareholders' equity		3,597			3,613			3,501			3,432			3,407		6			3,597			3,407		6
Common shares outstanding (thousands)		121,553			121,431			119,514			119,364			119,283		2			121,553			119,283		2

⁽¹⁾Excludes non-operating items as detailed on Non-GAAP Performance Measures Reconciliation on next page. ⁽²⁾ Net income less preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). ⁽³⁾ Excludes effect of acquisition related intangibles and associated amortization. ⁽⁴⁾Annualized. ⁽⁵⁾ Excludes income tax expense and provision for credit losses.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
*(in thousands, except per share data)*
		2025									2024					For the Nine Months Ended September 30,
	Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter				2025			2024
Noninterest income reconciliation
Noninterest income (GAAP)	$	43,219		$	34,708		$	35,656		$	40,522		$	8,091		$	113,583		$	84,234
Loss on sale of manufactured housing loans		—			—			—			—			27,209			—			27,209
Gain on lease termination		—			—			—			—			—			—			(2,400	)
Noninterest income – operating	$	43,219		$	34,708		$	35,656		$	40,522		$	35,300		$	113,583		$	109,043

Noninterest expense reconciliation
Noninterest expense (GAAP)	$	150,868		$	147,919		$	141,099		$	143,056		$	143,065		$	439,886		$	435,111
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			(5,100	)
FDIC special assessment		—			—			—			—			—			—			(1,736	)
Merger-related and other charges		(3,468	)		(4,833	)		(1,297	)		(2,203	)		(2,176	)		(9,598	)		(6,420	)
Noninterest expense – operating	$	147,400		$	143,086		$	139,802		$	140,853		$	140,889		$	430,288		$	421,855

Net income to operating income reconciliation
Net income (GAAP)	$	91,494		$	78,733		$	71,413		$	75,804		$	47,347		$	241,640		$	176,593
Loss on sale of manufactured housing loans		—			—			—			—			27,209			—			27,209
Gain on lease termination		—			—			—			—			—			—			(2,400	)
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			5,100
FDIC special assessment		—			—			—			—			—			—			1,736
Merger-related and other charges		3,468			4,833			1,297			2,203			2,176			9,598			6,420
Income tax benefit of non-operating items		(751	)		(1,047	)		(281	)		(471	)		(6,276	)		(2,079	)		(8,231	)
Net income – operating	$	94,211		$	82,519		$	72,429		$	77,536		$	70,456		$	249,159		$	206,427

Net income to pre-tax pre-provision income reconciliation
Net income (GAAP)	$	91,494		$	78,733		$	71,413		$	75,804		$	47,347		$	241,640		$	176,593
Income tax expense		26,579			21,769			19,746			20,606			12,437			68,094			50,003
Provision for credit losses		7,907			11,818			15,419			11,389			14,428			35,144			39,562
Pre-tax pre-provision income	$	125,980		$	112,320		$	106,578		$	107,799		$	74,212		$	344,878		$	266,158

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	0.70		$	0.63		$	0.58		$	0.61		$	0.38		$	1.91		$	1.43
Loss on sale of manufactured housing loans		—			—			—			—			0.18			—			0.18
Gain on lease termination		—			—			—			—			—			—			(0.02	)
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			0.03
FDIC special assessment		—			—			—			—			—			—			0.01
Merger-related and other charges		0.02			0.03			0.01			0.02			0.01			0.06			0.04
Deemed dividend on preferred stock redemption		0.03			—			—			—			—			0.03			—
Diluted income per common share – operating	$	0.75		$	0.66		$	0.59		$	0.63		$	0.57		$	2.00		$	1.67

Book value per common share reconciliation
Book value per common share (GAAP)	$	29.44		$	28.89		$	28.42		$	27.87		$	27.68		$	29.44		$	27.68
Effect of goodwill and other intangibles		(7.85	)		(7.89	)		(7.84	)		(7.87	)		(8.02	)		(7.85	)		(8.02	)
Tangible book value per common share	$	21.59		$	21.00		$	20.58		$	20.00		$	19.66		$	21.59		$	19.66

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.20	%		8.45	%		7.89	%		8.40	%		5.20	%		8.53	%		6.61	%
Loss on sale of manufactured housing loans		—			—			—			—			2.43			—			0.82
Gain on lease termination		—			—			—			—			—			—			(0.07	)
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			0.16
FDIC special assessment		—			—			—			—			—			—			0.05
Merger-related and other charges		0.29			0.42			0.12			0.20			0.19			0.27			0.19
Deemed dividend on preferred stock redemption		0.34			—			—			—			—			0.12			—
Return on common equity – operating		9.83			8.87			8.01			8.60			7.82			8.92			7.76
Effect of goodwill and other intangibles		3.73			3.47			3.20			3.52			3.35			3.65			3.42
Return on tangible common equity – operating		13.56	%		12.34	%		11.21	%		12.12	%		11.17	%		12.57	%		11.18	%

Return on assets reconciliation
Return on assets (GAAP)		1.29	%		1.11	%		1.02	%		1.06	%		0.67	%		1.16	%		0.85	%
Loss on sale of manufactured housing loans		—			—			—			—			0.31			—			0.10
Gain on lease termination		—			—			—			—			—			—			(0.01	)
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			0.02
FDIC special assessment		—			—			—			—			—			—			0.01
Merger-related and other charges		0.04			0.05			0.02			0.02			0.03			0.03			0.02
Return on assets – operating		1.33	%		1.16	%		1.04	%		1.08	%		1.01	%		1.19	%		0.99	%


Return on assets to return on assets- pre-tax pre-provision reconciliation
Return on assets (GAAP)		1.29	%		1.11	%		1.02	%		1.06	%		0.67	%		1.16	%		0.85	%
Income tax expense		0.38			0.31			0.29			0.30			0.19			0.33			0.25
Provision for credit losses		0.11			0.17			0.23			0.16			0.21			0.17			0.19
Loss on sale of manufactured housing loans		—			—			—			—			0.40			—			0.13
Gain on lease termination		—			—			—			—			—			—			(0.01	)
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			0.03
FDIC special assessment		—			—			—			—			—			—			0.01
Merger-related and other charges		0.05			0.07			0.01			0.03			0.03			0.04			0.03
Return on assets – pre-tax pre-provision – operating		1.83	%		1.66	%		1.55	%		1.55	%		1.50	%		1.70	%		1.48	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		54.30	%		56.69	%		56.74	%		56.05	%		65.51	%		55.86	%		61.76	%
Loss on sale of manufactured housing loans		—			—			—			—			(7.15	)		—			(2.25	)
Gain on lease termination		—			—			—			—			—			—			0.21
Loss on sale of FinTrust, including goodwill impairment		—			—			—			—			—			—			(0.73	)
FDIC special assessment		—			—			—			—			—			—			(0.24	)
Merger-related and other charges		(1.25	)		(1.85	)		(0.52	)		(0.87	)		(0.99	)		(1.22	)		(0.91	)
Efficiency ratio – operating		53.05	%		54.84	%		56.22	%		55.18	%		57.37	%		54.64	%		57.84	%

Tangible common equity to tangible assets reconciliation
Equity to total assets (GAAP)		12.78	%		12.86	%		12.56	%		12.38	%		12.45	%		12.78	%		12.45	%
Effect of goodwill and other intangibles		(3.07	)		(3.10	)		(3.06	)		(3.09	)		(3.20	)		(3.07	)		(3.20	)
Effect of preferred equity		—			(0.31	)		(0.32	)		(0.32	)		(0.32	)		—			(0.32	)
Tangible common equity to tangible assets		9.71	%		9.45	%		9.18	%		8.97	%		8.93	%		9.71	%		8.93	%

UNITED COMMUNITY BANKS, INC.
Loan Portfolio Composition at Period-End
	2025						2024				Linked Quarter Change			Year over Year Change
(in millions)	Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Linked Quarter Change			Year over Year Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	3,678	$	3,563	$	3,419	$	3,398	$	3,323	$	115		$	355
Income producing commercial RE		4,534		4,548		4,416		4,361		4,259		(14	)		275
Commercial & industrial		2,593		2,516		2,506		2,428		2,313		77			280
Commercial construction		1,734		1,752		1,681		1,656		1,785		(18	)		(51	)
Equipment financing		1,808		1,778		1,723		1,663		1,603		30			205
Total commercial		14,347		14,157		13,745		13,506		13,283		190			1,064
Residential mortgage		3,198		3,210		3,218		3,232		3,263		(12	)		(65	)
Home equity		1,252		1,180		1,099		1,065		1,015		72			237
Residential construction		178		174		171		178		189		4			(11	)
Manufactured housing ⁽¹⁾		—		—		—		2		2		—			(2	)
Consumer		192		191		183		186		188		1			4
Other		8		9		9		7		24		(1	)		(16	)
Total loans	$	19,175	$	18,921	$	18,425	$	18,176	$	17,964	$	254		$	1,211

LOANS BY MARKET
Georgia	$	4,584	$	4,551	$	4,484	$	4,447	$	4,470	$	33		$	114
South Carolina		2,926		2,872		2,821		2,815		2,782		54			144
North Carolina		2,676		2,626		2,666		2,644		2,586		50			90
Tennessee		1,902		1,881		1,880		1,799		1,848		21			54
Florida		3,040		2,966		2,572		2,527		2,423		74			617
Alabama		1,054		1,016		1,009		996		996		38			58
Commercial Banking Solutions		2,993		3,009		2,993		2,948		2,859		(16	)		134
Total loans	$	19,175	$	18,921	$	18,425	$	18,176	$	17,964	$	254		$	1,211

⁽¹⁾ For 2025 periods, manufactured housing loans are included with consumer loans.

UNITED COMMUNITY BANKS, INC.
Credit Quality
(in thousands)
	2025
	Third Quarter		Second Quarter		First Quarter
NONACCRUAL LOANS
Owner occupied RE	$	10,275	$	8,207	$	8,949
Income producing RE		10,884		14,624		16,536
Commercial & industrial		25,754		15,422		22,396
Commercial construction		3,198		1,368		5,558
Equipment financing		9,716		11,731		8,818
Total commercial		59,827		51,352		62,257
Residential mortgage		28,978		22,597		22,756
Home equity		5,234		4,093		4,091
Residential construction		1,241		1,203		811
Consumer		1,163		1,207		1,423
Total nonaccrual loans		96,443		80,452		91,338
OREO and repossessed assets		1,473		3,507		1,952
Total NPAs	$	97,916	$	83,959	$	93,290

		2025
	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	$	2,497		0.28	%	$	470		0.05	%	$	126		0.02	%
Income producing RE		(106	)	(0.01	)		933		0.08			718		0.07
Commercial & industrial		(1,132	)	(0.18	)		1,027		0.16			2,447		0.40
Commercial construction		491		0.11			89		0.02			(138	)	(0.03	)
Equipment financing		5,487		1.23			4,963		1.16			5,042		1.21
Total commercial		7,237		0.20			7,482		0.22			8,195		0.24
Residential mortgage		(259	)	(0.03	)		313		0.04			(1	)	—
Home equity		19		0.01			(72	)	(0.03	)		(62	)	(0.02	)
Residential construction		12		0.03			(9	)	(0.02	)		219		0.51
Consumer		667		1.39			511		1.11			1,256		2.76
Total	$	7,676		0.16		$	8,225		0.18		$	9,607		0.21

⁽¹⁾ Annualized.

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

(in thousands, except share and per share data)	September 30, 2025			December 31, 2024
ASSETS
Cash and due from banks	$	205,007		$	296,161
Interest-bearing deposits in banks		408,424			223,712
Cash and cash equivalents		613,431			519,873
Debt securities available-for-sale		3,889,263			4,436,291
Debt securities held-to-maturity (fair value $1,937,053 and $1,944,126, respectively)		2,274,099			2,368,107
Loans held for sale		34,802			57,534
Loans and leases held for investment		19,174,794			18,175,980
Less allowance for credit losses – loans and leases		(215,791	)		(206,998	)
Loans and leases, net		18,959,003			17,968,982
Premises and equipment, net		394,536			394,264
Bank owned life insurance		362,608			346,234
Goodwill and other intangible assets, net		971,071			956,643
Other assets		644,660			672,330
Total assets	$	28,143,473		$	27,720,258
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand	$	6,444,067		$	6,211,182
NOW and interest-bearing demand		5,860,653			6,141,342
Money market		6,801,387			6,398,144
Savings		1,085,237			1,100,591
Time		3,673,718			3,441,424
Brokered		155,556			168,292
Total deposits		24,020,618			23,460,975
Short-term borrowings		—			195,000
Long-term debt		155,251			254,152
Accrued expense and other liabilities		370,753			378,004
Total liabilities		24,546,622			24,288,131
Shareholders' equity:
Preferred stock; $1 par value; 10,000 shares authorized; 0 and 3,662 shares Series I issued and outstanding, respectively; $25,000 per share liquidation preference		—			88,266
Common stock, $1 par value; 200,000,000 shares authorized, 121,553,462 and 119,364,110 shares issued and outstanding, respectively		121,553			119,364
Common stock issuable; 608,291 and 600,168 shares, respectively		13,683			12,999
Capital surplus		2,767,143			2,710,279
Retained earnings		858,395			714,138
Accumulated other comprehensive loss		(163,923	)		(212,919	)
Total shareholders' equity		3,596,851			3,432,127
Total liabilities and shareholders' equity	$	28,143,473		$	27,720,258

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)		2025		2024			2025		2024
Interest revenue:
Loans, including fees	$	297,929	$	291,574		$	860,269	$	867,152
Investment securities, including tax exempt of $1,681, $1,713, $5,030 and $5,133, respectively		53,203		52,997			167,915		149,496
Deposits in banks and short-term investments		2,718		4,515			8,388		16,131
Total interest revenue		353,850		349,086			1,036,572		1,032,779

Interest expense:
Deposits:
NOW and interest-bearing demand		35,050		43,401			109,396		133,522
Money market		50,661		56,874			149,805		160,883
Savings		641		672			2,722		2,065
Time		32,123		35,202			94,622		107,925
Deposits		118,475		136,149			356,545		404,395
Short-term borrowings		25		27			1,215		87
Federal Home Loan Bank advances		—		—			433		—
Long-term debt		1,721		3,724			7,198		11,262
Total interest expense		120,221		139,900			365,391		415,744
Net interest revenue		233,629		209,186			671,181		617,035

Noninterest income:
Service charges and fees		11,400		10,488			31,057		30,372
Mortgage loan gains and other related fees		7,098		3,520			18,590		17,830
Wealth management fees		4,757		6,338			13,622		19,037
Net gains (losses) from sales of other loans		2,385		(25,700	)		5,776		(22,867	)
Lending and loan servicing fees		4,235		3,512			12,090		11,050
Securities gains, net		49		—			341		—
Other		13,295		9,933			32,107		28,812
Total noninterest income		43,219		8,091			113,583		84,234
Total revenue		276,848		217,277			784,764		701,269

Provision for credit losses		7,907		14,428			35,144		39,562

Noninterest expense:
Salaries and employee benefits		90,667		83,533			261,931		254,336
Communications and equipment		13,937		12,626			40,968		36,534
Occupancy		11,502		11,311			33,366		33,466
Advertising and public relations		2,053		2,041			6,815		6,401
Postage, printing and supplies		2,735		2,477			7,791		7,376
Professional fees		6,282		6,432			17,822		18,464
Lending and loan servicing expense		2,428		2,227			6,745		6,068
Outside services – electronic banking		3,543		4,433			9,876		10,163
FDIC assessments and other regulatory charges		4,846		5,003			14,233		17,036
Amortization of intangibles		3,313		3,528			9,891		11,209
Merger-related and other charges		3,468		2,176			9,598		6,420
Other		6,094		7,278			20,850		27,638
Total noninterest expense		150,868		143,065			439,886		435,111
Income before income taxes		118,073		59,784			309,734		226,596
Income tax expense		26,579		12,437			68,094		50,003
Net income		91,494		47,347			241,640		176,593
Preferred stock dividends and deemed dividend at redemption		4,848		1,573			7,994		4,719
Earnings allocated to participating securities		507		272			1,356		988
Net income available to common shareholders	$	86,139	$	45,502		$	232,290	$	170,886

Net income per common share:
Basic	$	0.71	$	0.38		$	1.92	$	1.43
Diluted		0.70		0.38			1.91		1.43
Weighted average common shares outstanding:
Basic		122,116		119,818			121,186		119,736
Diluted		122,252		119,952			121,303		119,827

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

		2025							2024
*(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⁾	$	19,010,663		$	297,725	6.21	%	$	18,051,741		$	291,164	6.42	%
Taxable securities ⁽³⁾		6,217,693			51,522	3.31			6,182,164			51,284	3.32
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		351,528			2,249	2.56			361,359			2,292	2.54
Federal funds sold and other interest-earning assets		413,678			3,389	3.25			505,792			5,440	4.28
Total interest-earning assets (FTE)		25,993,562			354,885	5.42			25,101,056			350,180	5.55

Noninterest-earning assets:
Allowance for credit losses		(220,805	)						(215,008	)
Cash and due from banks		206,772							206,995
Premises and equipment		397,490							399,262
Other assets ⁽³⁾		1,664,648							1,615,468
Total assets	$	28,041,667						$	27,107,773

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	5,825,997			35,050	2.39		$	5,797,845			43,401	2.98
Money market		6,907,894			50,661	2.91			6,342,455			56,874	3.57
Savings		1,107,509			641	0.23			1,126,774			672	0.24
Time		3,656,172			31,602	3.43			3,465,980			34,560	3.97
Brokered time deposits		50,529			521	4.09			50,364			642	5.07
Total interest-bearing deposits		17,548,101			118,475	2.68			16,783,418			136,149	3.23
Federal funds purchased and other borrowings		2,284			25	4.34			1,899			27	5.66
Federal Home Loan Bank advances		—			—	—			11			—	—
Long-term debt		155,197			1,721	4.40			323,544			3,724	4.58
Total borrowed funds		157,481			1,746	4.40			325,454			3,751	4.59
Total interest-bearing liabilities		17,705,582			120,221	2.69			17,108,872			139,900	3.25

Noninterest-bearing liabilities:
Noninterest-bearing deposits		6,366,723							6,239,926
Other liabilities		334,443							391,574
Total liabilities		24,406,748							23,740,372
Shareholders' equity		3,634,919							3,367,401
Total liabilities and shareholders' equity	$	28,041,667						$	27,107,773

Net interest revenue (FTE)				$	234,664						$	210,280
Net interest-rate spread (FTE)						2.73	%						2.30	%
Net interest margin (FTE) ⁽⁴⁾						3.58	%						3.33	%

⁽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 $1.04 million and $1.09 million, respectively, for the three months ended September 30, 2025 and 2024. 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 $223 million in 2025 and $295 million in 2024 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,

		2025							2024
*(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⁾	$	18,632,384		$	859,678	6.17	%	$	18,187,790		$	866,502	6.36	%
Taxable securities ⁽³⁾		6,480,641			162,885	3.35			5,988,368			144,363	3.21
Tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		354,115			6,730	2.53			363,692			6,876	2.52
Federal funds sold and other interest-earning assets		422,123			10,288	3.26			559,786			18,256	4.36
Total interest-earning assets (FTE)		25,889,263			1,039,581	5.37			25,099,636			1,035,997	5.51

Non-interest-earning assets:
Allowance for loan losses		(217,050	)						(214,372	)
Cash and due from banks		210,027							210,982
Premises and equipment		397,395							392,561
Other assets ⁽³⁾		1,637,493							1,613,118
Total assets	$	27,917,128						$	27,101,925

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	6,002,702			109,396	2.44		$	5,913,566			133,522	3.02
Money market		6,713,585			149,805	2.98			6,092,649			160,883	3.53
Savings		1,133,078			2,722	0.32			1,159,982			2,065	0.24
Time		3,545,792			93,029	3.51			3,535,343			106,199	4.01
Brokered time deposits		50,488			1,593	4.22			50,343			1,726	4.58
Total interest-bearing deposits		17,445,645			356,545	2.73			16,751,883			404,395	3.22
Federal funds purchased and other borrowings		29,865			1,215	5.44			2,001			87	5.81
Federal Home Loan Bank advances		12,824			433	4.51			5			—	—
Long-term debt		215,440			7,198	4.47			324,414			11,262	4.64
Total borrowed funds		258,129			8,846	4.58			326,420			11,349	4.64
Total interest-bearing liabilities		17,703,774			365,391	2.76			17,078,303			415,744	3.25

Noninterest-bearing liabilities:
Noninterest-bearing deposits		6,304,792							6,306,919
Other liabilities		350,211							394,323
Total liabilities		24,358,777							23,779,545
Shareholders' equity		3,558,351							3,322,380
Total liabilities and shareholders' equity	$	27,917,128						$	27,101,925

Net interest revenue (FTE)				$	674,190						$	620,253
Net interest-rate spread (FTE)						2.61	%						2.26	%
Net interest margin (FTE) ⁽⁴⁾						3.48	%						3.30	%

⁽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 $3.01 million and $3.22 million, respectively, for the nine months ended September 30, 2025 and 2024. 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 $244 million in 2025 and $320 million in 2024 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.

About United Community Banks, Inc.
United Community Banks, Inc. (NYSE: UCB) is the financial holding company for 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, 2025, United Community Banks, Inc. had $28.1 billion in assets and operated 199 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise and a national equipment finance subsidiary, extending its reach to businesses across the country. United Community is an 11-time winner of J.D. Power's award for highest customer satisfaction among consumer banks in the Southeast and was named the most trusted bank in the region in 2025. The company has also been recognized eight consecutive years by American Banker as one of the “Best Banks to Work For.” In commercial banking, United Community earned five 2025 Greenwich Best Brand awards, including national honors for middle market satisfaction. 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”, “noninterest expense – 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 addressedÍ¾ 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, 2024, 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:
Jefferson Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com