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United Community Banks, Inc. Reports Earnings of $16.4 Million for Second Quarter 2014

BLAIRSVILLE, GA--(Marketwired - July 24, 2014) - United Community Banks, Inc. (NASDAQ: UCBI)

  • Earnings per diluted share of 27 cents, up 8 percent from first quarter
  • Loans up $54 million, or 5 percent annualized
  • Core transaction deposits up $52 million, or 6 percent annualized
  • SBA lending team added to expand business

United Community Banks, Inc. (NASDAQ: UCBI) ("United") today reported net income of $16.4 million, or 27 cents per diluted share, for the second quarter of 2014. Earnings per share were up 8 percent from the first quarter, reflecting growth in net interest revenue and fee revenue, a lower provision for loan losses and the elimination of preferred stock dividends. For the first six months, United reported net income of $31.8 million, or 52 cents per diluted share.

"I am very pleased with our second quarter progress in growing our business and earnings," said Jimmy Tallent, president and chief executive officer. "We have had four consecutive quarters of steady earnings per share growth since the classified asset sales a year ago and are focused on continuing that trend."

Second quarter taxable equivalent net interest revenue totaled $55.0 million, up $781,000 from the first quarter and the same as the second quarter of 2013. The taxable equivalent net interest margin was 3.21 percent, equal to the first quarter and down 12 basis points from a year ago.

"Preserving our net interest margin and growing net interest revenue while also managing our exposure to changes in interest rates are top priorities for continued growth in earnings per share," said Tallent. "We remain sharply focused on growing loans and core deposits to increase net interest revenue. During the second quarter we completed certain balance sheet restructuring activities that included the reduction/restructuring of the securities portfolio, interest rate hedges and wholesale borrowings. The consequential changes in our securities portfolio, wholesale borrowings and interest rate hedges allowed us to maintain our margin at 3.21 percent and prevent further margin decline in 2014, while maintaining our interest rate risk and sensitivity levels. We sold $237 million in investment securities at a gain of $4.4 million, which was offset by a similar charge from the repayment of $44 million in costly structured wholesale borrowings."

The second quarter provision for credit losses was $2.2 million, down $300,000 from the first quarter and down $46.3 million from the second quarter of 2013. Second quarter net charge-offs were $4.18 million, compared with $4.04 million in the first quarter and $72.4 million a year ago. Nonperforming assets at quarter-end were $23.7 million, down 23 percent from the first quarter and representing .32 percent of total assets. This compares to .42 percent at the end of the first quarter, and .44 percent at the end of the second quarter of 2013.

Second quarter fee revenue totaled $14.1 million, up $1.97 million from the first quarter with increases in every category. When compared to a year earlier, fee revenue was down $1.80 million primarily due to lower mortgage fees and a $1.37 million gain last year on a bank-owned life insurance policy. Service charges and fees were up approximately $600,000 from both the first quarter and a year ago due to strong debit card transaction volume and new service fees effective January 1. Mortgage fees were up $523,000 from the first quarter but down $1.13 million from a year ago, the decrease reflecting slower mortgage refinancing activity. Closed mortgage loans totaled $68.5 million in the second quarter, compared with $46.0 million in the first quarter and $95.2 million in the second quarter of 2013. Customer swap fees included in other fee revenue were up $357,000 from the first quarter due to an increase in commercial lending activities. Also included in other fee revenue were gains on the sale of SBA loans of $744,000. "Going forward, our new focus on growing our SBA business includes selling loans and taking the related gains, while retaining servicing on the loans sold," commented Tallent.

Operating expenses, excluding foreclosed property costs, were $40.4 million in the second quarter compared to $38.9 million in the first quarter and $43.7 million a year ago. Decreases in nearly every expense category from a year ago reflect successful efforts to control operating costs. The $1.48 million increase from the first quarter was mostly in advertising and public relations, professional fees and other expenses that included a number of non-core costs. The increase in advertising and public relations primarily reflects the cost for new products and updating brochures and other branded materials. The increase in professional fees is due to higher legal and consulting costs resulting from corporate initiatives. The increase in other expenses primarily reflects higher lending support costs and a $367,000 loss from the consolidation and sale of a branch facility.

Foreclosed property costs were $102,000 in the second quarter compared to $116,000 in the first quarter and $5.15 million a year ago. These costs were elevated in the second quarter of 2013 by the accelerated sales of classified assets.

On June 30, 2014, capital ratios were as follows: Tier 1 Risk-Based of 11.8 percent; Total Risk-Based of 13.0 percent; Tier 1 Common Risk-Based of 10.7 percent; Tier 1 Leverage of 8.3 percent; and Tangible Equity-to-Assets of 9.6 percent.

"We had a solid start in 2014 and continued to build momentum through the second quarter," Tallent said. "Stabilizing our net interest margin and growing loans, deposits and fee revenue will drive earnings growth. To that end, we continue to expand our business capabilities and have added senior people to our commercial and specialized lending groups. In the second quarter we completed the acquisition of a specialty SBA business in Columbia, South Carolina, and added a newly formed SBA national sales team led by Rich Bradshaw, who has a long record of success in SBA and other specialized lending areas. This team will significantly strengthen our SBA and USDA lending capabilities within and beyond our existing footprint. I am excited about the opportunities ahead and remain convinced we are on track to achieve our business targets and financial goals for the year."

Conference Call
United will hold a conference call today, Thursday, July 24, 2014, at 11 a.m. ET to discuss the contents of this news release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 60193841. The conference call also will be webcast and can be accessed by selecting "Calendar of Events" within the Investor Relations section of United's website at www.ucbi.com.

About United Community Banks, Inc.
United Community Banks, Inc. (UCBI) is a bank holding company based in Blairsville, Georgia, with $7.4 billion in assets. The company's banking subsidiary, United Community Bank, is one of the Southeast's largest full-service banks, operating 103 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. A full range of consumer and commercial banking services includes mortgage, advisory, treasury management and other products. National survey organizations consistently recognize United Community Bank for outstanding customer service. Additional information about the company and the bank's full range of products and services can be found at www.ucbi.com.

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 its 2013 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                                              
                                                                            
----------------------------------------------------------------------------
                                                                      Second
                      2014                      2013                 Quarter
               ------------------  ------------------------------           
(in thousands,                                                              
 except per                                                           2014- 
 share          Second     First    Fourth     Third     Second        2013 
data; taxable                                                               
 equivalent)    Quarter   Quarter   Quarter   Quarter    Quarter      Change
-------------- --------  --------  --------  --------  ----------    -------
INCOME SUMMARY                                                              
Interest                                                                    
 revenue       $ 61,783  $ 60,495  $ 61,695  $ 61,426  $  62,088            
Interest                                                                    
 expense          6,833     6,326     5,816     7,169      7,157            
               --------  --------  --------  --------  ----------           
  Net interest                                                              
   revenue       54,950    54,169    55,879    54,257     54,931          -%
Provision for                                                               
 credit losses    2,200     2,500     3,000     3,000     48,500            
Fee revenue      14,143    12,176    13,519    14,225     15,943        (11)
               --------  --------  --------  --------  ----------           
  Total                                                                     
   revenue       66,893    63,845    66,398    65,482     22,374            
Operating                                                                   
 expenses        40,532    39,050    41,614    40,097     48,823        (17)
               --------  --------  --------  --------  ----------           
 Income (loss)                                                              
  before                                                                    
  income taxes   26,361    24,795    24,784    25,385    (26,449)           
Income tax                                                                  
 expense                                                                    
 (benefit)       10,004     9,395     8,873     9,885   (256,413)           
               --------  --------  --------  --------  ----------           
  Net income     16,357    15,400    15,911    15,500    229,964            
Preferred                                                                   
 dividends and                                                              
 discount                                                                   
 accretion            -       439     2,912     3,059      3,055            
               --------  --------  --------  --------  ----------           
Net income                                                                  
 available to                                                               
 common                                                                     
 shareholders  $ 16,357  $ 14,961  $ 12,999  $ 12,441  $ 226,909            
               ========  ========  ========  ========  ==========           
                                                                            
PERFORMANCE                                                                 
 MEASURES                                                                   
 Per common                                                                 
  share:                                                                    
  Diluted                                                                   
   income      $    .27  $    .25  $    .22  $    .21  $    3.90            
  Book value      11.94     11.66     11.30     10.99      10.90         10 
  Tangible                                                                  
   book value                                                               
   (2)            11.91     11.63     11.26     10.95      10.82         10 
                                                                            
 Key                                                                        
  performance                                                               
  ratios:                                                                   
  Return on                                                                 
   common                                                                   
   equity                                                                   
   (1)(3)          8.99%     8.64%     7.52%     7.38%    197.22%           
  Return on                                                                 
   assets (3)       .88       .85       .86       .86      13.34            
  Net interest                                                              
   margin (3)      3.21      3.21      3.26      3.26       3.33            
  Efficiency                                                                
   ratio          58.65     59.05     60.02     58.55      68.89            
  Equity to                                                                 
   assets          9.61      9.52     11.62     11.80      11.57  (4)       
  Tangible                                                                  
   equity to                                                      (4)       
   assets (2)      9.58      9.50     11.59     11.76      11.53            
  Tangible                                                                  
   common                                                                   
   equity to                                                      (4)       
   assets (2)      9.58      9.22      8.99      9.02       8.79            
  Tangible                                                                  
   common                                                                   
   equity to                                                                
   risk-                                                                    
   weighted                                                                 
   assets (2)     13.92     13.63     13.18     13.34      13.16            
                                                                            
ASSET QUALITY                                                               
 *                                                                          
 Non-                                                                       
  performing                                                                
  loans        $ 20,724  $ 25,250  $ 26,819  $ 26,088  $  27,864            
 Foreclosed                                                                 
  properties      2,969     5,594     4,221     4,467      3,936            
               --------  --------  --------  --------  ----------           
  Total non-                                                                
   performing                                                               
   assets                                                                   
   (NPAs)        23,693    30,844    31,040    30,555     31,800            
 Allowance for                                                              
  loan losses    73,248    75,223    76,762    80,372     81,845            
 Net charge-                                                                
  offs            4,175     4,039     4,445     4,473     72,408            
 Allowance for                                                              
  loan losses                                                               
  to loans         1.66%     1.73%     1.77%     1.88%      1.95%           
 Net charge-                                                                
  offs to                                                                   
  average                                                                   
  loans (3)         .38       .38       .41       .42       6.87            
 NPAs to loans                                                              
  and                                                                       
  foreclosed                                                                
  properties        .54       .71       .72       .72        .76            
 NPAs to total                                                              
  assets            .32       .42       .42       .42        .44            
                                                                            
AVERAGE                                                                     
 BALANCES($ in                                                              
 millions)                                                                  
 Loans         $  4,376  $  4,356  $  4,315  $  4,250  $   4,253          3 
 Investment                                                                 
  securities      2,326     2,320     2,280     2,178      2,161          8 
 Earning                                                                    
  assets          6,861     6,827     6,823     6,615      6,608          4 
 Total assets     7,418     7,384     7,370     7,170      6,915          7 
 Deposits         6,187     6,197     6,190     5,987      5,983          3 
 Shareholders'                                                              
  equity            713       703       856       846        636         12 
 Common shares                                                              
  - basic                                                                   
  (thousands)    60,712    60,059    59,923    59,100     58,141            
 Common shares                                                              
  - diluted                                                                 
  (thousands)    60,714    60,061    59,925    59,202     58,141            
                                                                            
AT PERIOD                                                                   
 END($ in                                                                   
 millions)                                                                  
 Loans *       $  4,410  $  4,356  $  4,329  $  4,267  $   4,189          5 
 Investment                                                                 
  securities      2,190     2,302     2,312     2,169      2,152          2 
 Total assets     7,352     7,398     7,425     7,243      7,163          3 
 Deposits         6,164     6,248     6,202     6,113      6,012          3 
 Shareholders'                                                              
  equity            722       704       796       852        829        (13)
 Common shares                                                              
  outstanding                                                               
  (thousands)    60,139    60,092    59,432    59,412     57,831            
                                                                            
(1) 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). (2) Excludes effect of      
 acquisition related intangibles and associated amortization. (3)           
 Annualized. (4) Calculated as of period-end.                               
                                                                            
* Excludes loans and foreclosed properties covered by loss sharing          
 agreements with the FDIC.                                                  
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Selected Financial Information                                              
                                                                            
----------------------------------------------------------------------------
                                             For the Six                    
                                             Months Ended            YTD    
(in thousands, except per share                June 30,           2014-2013 
                                      -------------------------             
data; taxable equivalent)                 2014          2013        Change  
--------------------------------------------------  -----------  -----------
INCOME SUMMARY                                                              
Interest revenue                       $   122,278  $   124,202             
Interest expense                            13,159       14,697             
                                      ------------  -----------             
  Net interest revenue                     109,119      109,505           -%
Provision for credit losses                  4,700       59,500             
Fee revenue                                 26,319       28,854          (9)
                                      ------------  -----------             
  Total revenue                            130,738       78,859             
Operating expenses                          79,582       92,593         (14)
                                      ------------  -----------             
  Income (loss) before income taxes         51,156      (13,734)            
Income tax expense (benefit)                19,399     (255,463)            
                                      ------------  -----------             
  Net income                                31,757      241,729             
Preferred dividends and discount                                            
 accretion                                     439        6,107             
                                      ------------  -----------             
Net income available to common                                              
 shareholders                          $    31,318  $   235,622             
                                      ============  ===========             
                                                                            
PERFORMANCE MEASURES                                                        
 Per common share:                                                          
  Diluted income                       $       .52  $      4.05             
  Book value                                 11.94        10.90          10 
  Tangible book value (2)                    11.91        10.82          10 
                                                                            
 Key performance ratios:                                                    
  Return on common equity (1)(3)              8.82%      108.34%            
  Return on assets (3)                         .87         7.09             
  Net interest margin (3)                     3.21         3.35             
  Efficiency ratio                           58.85        66.98             
  Equity to assets                            9.56         8.90             
  Tangible equity to assets (2)               9.54         8.83             
  Tangible common equity to assets (2)        9.40         5.99             
  Tangible common equity to risk-                                           
   weighted assets (2)                       13.92        13.16             
                                                                            
ASSET QUALITY *                                                             
 Non-performing loans                  $    20,724  $    27,864             
 Foreclosed properties                       2,969        3,936             
                                      ------------  -----------             
  Total non-performing assets (NPAs)        23,693       31,800             
 Allowance for loan losses                  73,248       81,845             
 Net charge-offs                             8,214       84,792             
 Allowance for loan losses to loans           1.66%        1.95%            
 Net charge-offs to average loans (3)          .38         4.07             
 NPAs to loans and foreclosed                                               
  properties                                   .54          .76             
 NPAs to total assets                          .32          .44             
                                                                            
AVERAGE BALANCES($ in millions)                                             
 Loans                                 $     4,366  $     4,225           3 
 Investment securities                       2,323        2,151           8 
 Earning assets                              6,844        6,578           4 
 Total assets                                7,401        6,875           8 
 Deposits                                    6,192        5,964           4 
 Shareholders' equity                          708          612          16 
 Common shares - basic (thousands)          60,386       58,111             
 Common shares - diluted (thousands)        60,388       58,111             
                                                                            
AT PERIOD END($ in millions)                                                
 Loans *                               $     4,410  $     4,189           5 
 Investment securities                       2,190        2,152           2 
 Total assets                                7,352        7,163           3 
 Deposits                                    6,164        6,012           3 
 Shareholders' equity                          722          829         (13)
 Common shares outstanding (thousands)      60,139       57,831             
                                                                            
(1) 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). (2) Excludes effect of      
 acquisition related intangibles and associated amortization. (3)           
 Annualized. (4) Calculated as of period-end.                               
                                                                            
* Excludes loans and foreclosed properties covered by loss sharing          
 agreements with the FDIC.                                                  
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Non-GAAP Performance Measures Reconciliation                                
Selected Financial Information                                              
                                                                            
----------------------------------------------------------------------------
                                                                            
                              2014                        2013              
                     ---------------------  ------------------------------- 
(in thousands, except                                                       
 per share             Second      First      Fourth     Third      Second  
data; taxable                                                               
 equivalent)           Quarter    Quarter    Quarter    Quarter    Quarter  
-------------------------------  ---------  ---------  ---------  --------- 
                                                                            
Interest revenue                                                            
 reconciliation                                                             
Interest revenue -                                                          
 taxable equivalent   $  61,783  $  60,495  $  61,695  $  61,426  $  62,088 
Taxable equivalent                                                          
 adjustment                (377)      (357)      (380)      (370)      (368)
                     ----------  ---------  ---------  ---------  --------- 
 Interest revenue                                                           
  (GAAP)              $  61,406  $  60,138  $  61,315  $  61,056  $  61,720 
                     ==========  =========  =========  =========  ========= 
                                                                            
Net interest revenue                                                        
 reconciliation                                                             
Net interest revenue                                                        
 - taxable equivalent $  54,950  $  54,169  $  55,879  $  54,257  $  54,931 
Taxable equivalent                                                          
 adjustment                (377)      (357)      (380)      (370)      (368)
                     ----------  ---------  ---------  ---------  --------- 
 Net interest revenue                                                       
  (GAAP)              $  54,573  $  53,812  $  55,499  $  53,887  $  54,563 
                     ==========  =========  =========  =========  ========= 
                                                                            
Total revenue                                                               
 reconciliation                                                             
Total operating                                                             
 revenue              $  66,893  $  63,845  $  66,398  $  65,482  $  22,374 
Taxable equivalent                                                          
 adjustment                (377)      (357)      (380)      (370)      (368)
                     ----------  ---------  ---------  ---------  --------- 
 Total revenue (GAAP) $  66,516  $  63,488  $  66,018  $  65,112  $  22,006 
                     ==========  =========  =========  =========  ========= 
                                                                            
Income (loss) before                                                        
 taxes reconciliation                                                       
Income (loss) before                                                        
 taxes                $  26,361  $  24,795  $  24,784  $  25,385  $ (26,449)
Taxable equivalent                                                          
 adjustment                (377)      (357)      (380)      (370)      (368)
                     ----------  ---------  ---------  ---------  --------- 
 Income (loss) before                                                       
  taxes (GAAP)        $  25,984  $  24,438  $  24,404  $  25,015  $ (26,817)
                     ==========  =========  =========  =========  ========= 
                                                                            
Income tax expense                                                          
 (benefit)                                                                  
 reconciliation                                                             
Income tax expense                                                          
 (benefit)            $  10,004  $   9,395  $   8,873  $   9,885  $(256,413)
Taxable equivalent                                                          
 adjustment                (377)      (357)      (380)      (370)      (368)
                     ----------  ---------  ---------  ---------  --------- 
 Income tax expense                                                         
  (benefit) (GAAP)    $   9,627  $   9,038  $   8,493  $   9,515  $(256,781)
                     ==========  =========  =========  =========  ========= 
                                                                            
Book value per common                                                       
 share reconciliation                                                       
Tangible book value                                                         
 per common share     $   11.91  $   11.63  $   11.26  $   10.95  $   10.82 
Effect of goodwill                                                          
 and other                                                                  
 intangibles                .03        .03        .04        .04        .08 
                     ----------  ---------  ---------  ---------  --------- 
 Book value per                                                             
  common share (GAAP) $   11.94  $   11.66  $   11.30  $   10.99  $   10.90 
                     ==========  =========  =========  =========  ========= 
                                                                            
Average equity to                                                           
 assets                                                                     
 reconciliation                                                             
Tangible common                                                             
 equity to assets          9.58%      9.22%      8.99%      9.02%      8.79%
Effect of preferred                                                         
 equity                       -        .28       2.60       2.74       2.74 
                     ----------  ---------  ---------  ---------  --------- 
 Tangible equity to                                                         
  assets                   9.58       9.50      11.59      11.76      11.53 
Effect of goodwill                                                          
 and other                                                                  
 intangibles                .03        .02        .03        .04        .04 
                     ----------  ---------  ---------  ---------  --------- 
 Equity to assets                                                           
  (GAAP)                   9.61%      9.52%     11.62%     11.80%     11.57%
                     ==========  =========  =========  =========  ========= 
                                                                            
Tangible common equity to risk-weighted                                     
 assets reconciliation                                                      
Tangible common                                                             
 equity to risk-                                                            
 weighted assets          13.92%     13.63%     13.18%     13.34%     13.16%
Effect of other                                                             
 comprehensive income       .53        .36        .39        .49        .29 
Effect of deferred                                                          
 tax limitation           (3.74)     (3.92)     (4.26)     (4.72)     (4.99)
Effect of trust                                                             
 preferred                 1.04       1.03       1.04       1.09       1.11 
Effect of preferred                                                         
 equity                       -          -       2.39       4.01       4.11 
                     ----------  ---------  ---------  ---------  --------- 
 Tier I capital ratio                                                       
  (Regulatory)            11.75%     11.10%     12.74%     14.21%     13.68%
                     ==========  =========  =========  =========  ========= 
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Non-GAAP Performance Measures Reconciliation                                
Selected Financial Information                                              
                                                                            
----------------------------------------------------------------------------
                                                                            
                                                 For the Six Months         
(in thousands, except per share                    Ended June 30,           
                                        ----------------------------------- 
data; taxable equivalent)                      2014              2013       
---------------------------------------------------------  ---------------- 
                                                                            
Interest revenue reconciliation                                             
Interest revenue - taxable equivalent    $        122,278  $        124,202 
Taxable equivalent adjustment                        (734)             (733)
                                        -----------------  ---------------- 
  Interest revenue (GAAP)                $        121,544  $        123,469 
                                        =================  ================ 
                                                                            
Net interest revenue reconciliation                                         
Net interest revenue - taxable                                              
 equivalent                              $        109,119  $        109,505 
Taxable equivalent adjustment                        (734)             (733)
                                        -----------------  ---------------- 
  Net interest revenue (GAAP)            $        108,385  $        108,772 
                                        =================  ================ 
                                                                            
Total revenue reconciliation                                                
Total operating revenue                  $        130,738  $         78,859 
Taxable equivalent adjustment                        (734)             (733)
                                        -----------------  ---------------- 
  Total revenue (GAAP)                   $        130,004  $         78,126 
                                        =================  ================ 
                                                                            
Income (loss) before taxes                                                  
 reconciliation                                                             
Income (loss) before taxes               $         51,156  $        (13,734)
Taxable equivalent adjustment                        (734)             (733)
                                        -----------------  ---------------- 
  Income (loss) before taxes (GAAP)      $         50,422  $        (14,467)
                                        =================  ================ 
                                                                            
Income tax expense (benefit)                                                
 reconciliation                                                             
Income tax expense (benefit)             $         19,399  $       (255,463)
Taxable equivalent adjustment                        (734)             (733)
                                        -----------------  ---------------- 
  Income tax expense (benefit) (GAAP)    $         18,665  $       (256,196)
                                        =================  ================ 
                                                                            
Book value per common share                                                 
 reconciliation                                                             
Tangible book value per common share     $          11.91  $          10.82 
Effect of goodwill and other intangibles              .03               .08 
                                        -----------------  ---------------- 
  Book value per common share (GAAP)     $          11.94  $          10.90 
                                        =================  ================ 
                                                                            
Average equity to assets reconciliation                                     
Tangible common equity to assets                     9.40%             5.99%
Effect of preferred equity                            .14              2.84 
                                        -----------------  ---------------- 
  Tangible equity to assets                          9.54              8.83 
Effect of goodwill and other intangibles              .02               .07 
                                        -----------------  ---------------- 
  Equity to assets (GAAP)                            9.56%             8.90%
                                        =================  ================ 
                                                                            
Tangible common equity to risk-weighted assets reconciliation               
Tangible common equity to risk-weighted                                     
 assets                                             13.92%            13.16%
Effect of other comprehensive income                  .53               .29 
Effect of deferred tax limitation                   (3.74)            (4.99)
Effect of trust preferred                            1.04              1.11 
Effect of preferred equity                              -              4.11 
                                        -----------------  ---------------- 
  Tier I capital ratio (Regulatory)                 11.75%            13.68%
                                        =================  ================ 
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Loan Portfolio Composition at Period-End (1)                                
                                                                            
----------------------------------------------------------------------------
                                                                            
                               2014                       2013              
                      --------------------- --------------------------------
                        Second      First     Fourth      Third     Second  
(in millions)           Quarter    Quarter    Quarter    Quarter    Quarter 
-------------------------------- ---------- ---------- ---------- ----------
LOANS BY CATEGORY                                                           
Owner occupied                                                              
 commercial RE        $    1,163 $    1,142 $    1,134 $    1,129 $    1,119
Income producing                                                            
 commercial RE               598        624        623        614        629
Commercial &                                                                
 industrial                  554        495        472        457        437
Commercial                                                                  
 construction                160        148        149        137        133
                      ---------- ---------- ---------- ---------- ----------
  Total commercial         2,475      2,409      2,378      2,337      2,318
Residential mortgage         861        866        875        888        876
Home equity lines of                                                        
 credit                      451        447        441        421        402
Residential                                                                 
 construction                302        318        328        318        332
Consumer installment         321        316        307        303        261
                      ---------- ---------- ---------- ---------- ----------
  Total loans         $    4,410 $    4,356 $    4,329 $    4,267 $    4,189
                      ========== ========== ========== ========== ==========
                                                                            
LOANS BY MARKET                                                             
North Georgia         $    1,175 $    1,205 $    1,240 $    1,262 $    1,265
Atlanta MSA                1,305      1,290      1,275      1,246      1,227
North Carolina               555        563        572        575        576
Coastal Georgia              426        425        423        421        397
Gainesville MSA              257        262        255        253        256
East Tennessee               270        272        280        277        282
South Carolina /                                                            
 Corporate                   206        131         88         47         34
Other (2)                    216        208        196        186        152
                      ---------- ---------- ---------- ---------- ----------
  Total loans         $    4,410 $    4,356 $    4,329 $    4,267 $    4,189
                      ========== ========== ========== ========== ==========
                                                                            
RESIDENTIAL CONSTRUCTION                                                    
Dirt loans                                                                  
 Acquisition &                                                              
  development         $       34 $       37 $       39 $       40 $       42
 Land loans                   36         37         38         35         36
 Lot loans                   151        159        166        167        173
                      ---------- ---------- ---------- ---------- ----------
  Total                      221        233        243        242        251
                      ---------- ---------- ---------- ---------- ----------
                                                                            
House loans                                                                 
 Spec                         19         19         23         30         34
 Sold                         62         66         62         46         47
                      ---------- ---------- ---------- ---------- ----------
  Total                       81         85         85         76         81
                      ---------- ---------- ---------- ---------- ----------
Total residential                                                           
 construction         $      302 $      318 $      328 $      318 $      332
                      ========== ========== ========== ========== ==========
                                                                            
(1) Excludes total loans of $3.1 million, $19.3 million, $20.3 million,     
 $23.3 million and $25.7 million as of June 30, 2014, March 31, 2014,       
 December 31, 2013, September 30, 2013 and June 30, 2013, respectively, that
 are covered by the loss-sharing agreement with the FDIC, related to the    
 acquisition of Southern Community Bank. (2) Includes purchased indirect    
 auto loans that are not assigned to a geographic region.                   
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Loan Portfolio Composition at Period-End (1)                                
                                                                            
----------------------------------------------------------------------------
                                                                            
                                                        Linked    Year over 
                                                       Quarter       Year   
                             2014            2013       Change      Change  
                    --------------------- ----------                        
                      Second      First     Second                          
(in millions)         Quarter    Quarter    Quarter                         
------------------------------ ---------- ---------- ----------- -----------
LOANS BY CATEGORY                                                           
Owner occupied                                                              
 commercial RE      $    1,163 $    1,142 $    1,119 $       21  $       44 
Income producing                                                            
 commercial RE             598        624        629        (26)        (31)
Commercial &                                                                
 industrial                554        495        437         59         117 
Commercial                                                                  
 construction              160        148        133         12          27 
                    ---------- ---------- ----------                        
  Total commercial       2,475      2,409      2,318         66         157 
Residential mortgage       861        866        876         (5)        (15)
Home equity lines of                                                        
 credit                    451        447        402          4          49 
Residential                                                                 
 construction              302        318        332        (16)        (30)
Consumer installment       321        316        261          5          60 
                    ---------- ---------- ----------                        
  Total loans       $    4,410 $    4,356 $    4,189         54         221 
                    ========== ========== ==========                        
                                                                            
LOANS BY MARKET                                                             
North Georgia       $    1,175 $    1,205 $    1,265        (30)        (90)
Atlanta MSA              1,305      1,290      1,227         15          78 
North Carolina             555        563        576         (8)        (21)
Coastal Georgia            426        425        397          1          29 
Gainesville MSA            257        262        256         (5)          1 
East Tennessee             270        272        282         (2)        (12)
South Carolina /                                                            
 Corporate                 206        131         34         75         172 
Other (2)                  216        208        152          8          64 
                    ---------- ---------- ----------                        
  Total loans       $    4,410 $    4,356 $    4,189         54         221 
                    ========== ========== ==========                        
                                                                            
RESIDENTIAL CONSTRUCTION                                                    
Dirt loans                                                                  
 Acquisition &                                                              
  development       $       34 $       37 $       42         (3)         (8)
 Land loans                 36         37         36         (1)          - 
 Lot loans                 151        159        173         (8)        (22)
                    ---------- ---------- ----------                        
  Total                    221        233        251        (12)        (30)
                    ---------- ---------- ----------                        
                                                                            
House loans                                                                 
 Spec                       19         19         34          -         (15)
 Sold                       62         66         47         (4)         15 
                    ---------- ---------- ----------                        
  Total                     81         85         81         (4)          - 
                    ---------- ---------- ----------                        
Total residential                                                           
 construction       $      302 $      318 $      332        (16)        (30)
                    ========== ========== ==========                        
                                                                            
(1) Excludes total loans of $3.1 million, $19.3 million, $20.3 million,     
 $23.3 million and $25.7 million as of June 30, 2014, March 31, 2014,       
 December 31, 2013, September 30, 2013 and June 30, 2013, respectively,     
 that are covered by the loss-sharing agreement with the FDIC, related to   
 the acquisition of Southern Community Bank. (2) Includes purchased         
 indirect auto loans that are not assigned to a geographic region.          
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Credit Quality(1)                                                           
                                                                            
----------------------------------------------------------------------------
                                                                            
                                             Second Quarter 2014            
                                --------------------------------------------
                                Non-performing   Foreclosed        Total    
(in thousands)                       Loans       Properties        NPAs     
------------------------------- -------------- -------------- --------------
NONPERFORMING ASSETS BY CATEGORY                                            
Owner occupied CRE              $       2,975  $         653  $       3,628 
Income producing CRE                    1,032            242          1,274 
Commercial & industrial                 1,102              -          1,102 
Commercial construction                    95              -             95 
                                -------------- -------------- --------------
 Total commercial                       5,204            895          6,099 
Residential mortgage                   10,201          1,426         11,627 
Home equity lines of credit               510            128            638 
Residential construction                4,248            520          4,768 
Consumer installment                      561              -            561 
                                -------------- -------------- --------------
 Total NPAs                     $      20,724  $       2,969  $      23,693 
                                ============== ============== ==============
 Balance as a % of                                                          
  Unpaid Principal                       66.5%          50.4%          63.9%
                                                                            
NONPERFORMING ASSETS BY MARKET                                              
North Georgia                   $       8,216  $       1,392  $       9,608 
Atlanta MSA                             3,883            510          4,393 
North Carolina                          5,314            615          5,929 
Coastal Georgia                           782             80            862 
Gainesville MSA                           921             49            970 
East Tennessee                          1,218            323          1,541 
South Carolina / Corporate                  -              -              - 
Other (3)                                 390              -            390 
                                -------------- -------------- --------------
 Total NPAs                     $      20,724  $       2,969  $      23,693 
                                ============== ============== ==============
                                                                            
                                                                            
NONPERFORMING ASSETS ACTIVITY                                               
Beginning Balance               $      25,250  $       5,594  $      30,844 
Loans placed on non-accrual             9,529              -          9,529 
Payments received                      (4,027)             -         (4,027)
Loan charge-offs                       (8,341)             -         (8,341)
Foreclosures                           (1,687)         1,687              - 
Capitalized costs                           -              -              - 
Property sales                              -         (4,430)        (4,430)
Write downs                                 -           (305)          (305)
Net gains (losses) on sales                 -            423            423 
                                -------------- -------------- --------------
 Ending Balance                 $      20,724  $       2,969  $      23,693 
                                ============== ============== ==============
                                                                            
(1) Excludes non-performing loans and foreclosed properties covered by the  
 loss-sharing agreement with the FDIC, related to the acquisition of        
 Southern Community Bank.                                                   
(2) Annualized.                                                             
(3) Includes purchased indirect auto loans that are not assigned to a       
 geographic region.                                                         
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Credit Quality(1)                                                           
                                                                            
----------------------------------------------------------------------------
                                                                            
                                             First Quarter 2014             
                                --------------------------------------------
                                Non-performing   Foreclosed        Total    
(in thousands)                       Loans       Properties        NPAs     
------------------------------- -------------- -------------- --------------
NONPERFORMING ASSETS BY CATEGORY                                            
Owner occupied CRE              $       3,868  $       1,167  $       5,035 
Income producing CRE                    1,278          1,645          2,923 
Commercial & industrial                   822              -            822 
Commercial construction                   479              -            479 
                                -------------- -------------- --------------
 Total commercial                       6,447          2,812          9,259 
Residential mortgage                   13,307          2,146         15,453 
Home equity lines of credit             1,106            362          1,468 
Residential construction                3,805            274          4,079 
Consumer installment                      585              -            585 
                                -------------- -------------- --------------
 Total NPAs                     $      25,250  $       5,594  $      30,844 
                                ============== ============== ==============
 Balance as a % of                                                          
  Unpaid Principal                       65.8%          53.9%          63.2%
                                                                            
NONPERFORMING ASSETS BY MARKET                                              
North Georgia                   $      12,166  $       2,058  $      14,224 
Atlanta MSA                             2,916            904          3,820 
North Carolina                          6,501            866          7,367 
Coastal Georgia                           800          1,607          2,407 
Gainesville MSA                         1,145              -          1,145 
East Tennessee                          1,428            159          1,587 
South Carolina / Corporate                  -              -              - 
Other (3)                                 294              -            294 
                                -------------- -------------- --------------
 Total NPAs                     $      25,250  $       5,594  $      30,844 
                                ============== ============== ==============
                                                                            
                                                                            
NONPERFORMING ASSETS ACTIVITY                                               
Beginning Balance               $      26,819  $       4,221  $      31,040 
Loans placed on non-accrual             9,303              -          9,303 
Payments received                      (1,666)             -         (1,666)
Loan charge-offs                       (4,839)             -         (4,839)
Foreclosures                           (4,367)         4,367              - 
Capitalized costs                           -              -              - 
Property sales                              -         (3,238)        (3,238)
Write downs                                 -           (277)          (277)
Net gains (losses) on sales                 -            521            521 
                                -------------- -------------- --------------
 Ending Balance                 $      25,250  $       5,594  $      30,844 
                                ============== ============== ==============
                                                                            
(1) Excludes non-performing loans and foreclosed properties covered by the  
 loss-sharing agreement with the FDIC, related to the acquisition of        
 Southern Community Bank.                                                   
(2) Annualized.                                                             
(3) Includes purchased indirect auto loans that are not assigned to a       
 geographic region.                                                         
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Credit Quality(1)                                                           
                                                                            
----------------------------------------------------------------------------
                                                                            
                                                Fourth Quarter 2013         
                                      --------------------------------------
                                          Non-                              
                                       performing   Foreclosed      Total   
(in thousands)                            Loans     Properties      NPAs    
------------------------------------- ------------ ------------ ------------
NONPERFORMING ASSETS BY CATEGORY                                            
Owner occupied CRE                    $     5,822  $       832  $     6,654 
Income producing CRE                        2,518            -        2,518 
Commercial & industrial                       427            -          427 
Commercial construction                       361            -          361 
                                      ------------ ------------ ------------
 Total commercial                           9,128          832        9,960 
Residential mortgage                       11,730        2,684       14,414 
Home equity lines of credit                 1,448          389        1,837 
Residential construction                    4,264          316        4,580 
Consumer installment                          249            -          249 
                                      ------------ ------------ ------------
 Total NPAs                           $    26,819  $     4,221  $    31,040 
                                      ============ ============ ============
 Balance as a % of                                                          
  Unpaid Principal                           65.3%        44.5%        61.4%
                                                                            
NONPERFORMING ASSETS BY MARKET                                              
North Georgia                         $    12,352  $     2,494  $    14,846 
Atlanta MSA                                 2,830          684        3,514 
North Carolina                              6,567          683        7,250 
Coastal Georgia                             2,342          173        2,515 
Gainesville MSA                               928            -          928 
East Tennessee                              1,800          187        1,987 
South Carolina / Corporate                      -            -            - 
Other (3)                                       -            -            - 
                                      ------------ ------------ ------------
 Total NPAs                           $    26,819  $     4,221  $    31,040 
                                      ============ ============ ============
                                                                            
                                                                            
NONPERFORMING ASSETS ACTIVITY                                               
Beginning Balance                     $    26,088  $     4,467  $    30,555 
Loans placed on non-accrual                11,043            -       11,043 
Payments received                          (1,688)           -       (1,688)
Loan charge-offs                           (4,621)           -       (4,621)
Foreclosures                               (4,003)       4,003            - 
Capitalized costs                               -            -            - 
Property sales                                  -       (4,684)      (4,684)
Write downs                                     -         (326)        (326)
Net gains (losses) on sales                     -          761          761 
                                      ------------ ------------ ------------
 Ending Balance                       $    26,819  $     4,221  $    31,040 
                                      ============ ============ ============
                                                                            
(1) Excludes non-performing loans and foreclosed properties covered by the  
 loss-sharing agreement with the FDIC, related to the acquisition of        
 Southern Community Bank.                                                   
(2) Annualized.                                                             
(3) Includes purchased indirect auto loans that are not assigned to a       
 geographic region.                                                         
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Financial Highlights                                                        
Credit Quality(1)                                                           
                                                                            
----------------------------------------------------------------------------
                                                                            
                                          First Quarter     Fourth Quarter  
                    Second Quarter 2014        2014              2013       
                    ------------------- ----------------- ------------------
                                 Net                Net                Net  
                               Charge-            Charge-            Charge-
                               Offs to            Offs to            Offs to
                       Net     Average     Net    Average    Net     Average
                     Charge-             Charge-           Charge-          
(in thousands)         Offs    Loans(2)   Offs   Loans(2)    Offs   Loans(2)
------------------- --------- --------- -------- -------- --------- --------
NET CHARGE-OFFS BY CATEGORY                                                 
Owner occupied CRE  $ (1,836)    (.64)% $    278     .10% $  1,638      .57%
Income producing                                                            
 CRE                     435      .29        205     .13       320      .21 
Commercial &                                                                
 industrial              662      .52        421     .35      (149)    (.13)
Commercial                                                                  
 construction            131      .34          -       -        (9)    (.02)
                    ---------           --------          ---------         
 Total commercial       (608)    (.10)       904     .15     1,800      .30 
Residential                                                                 
 mortgage              2,509     1.17      1,515     .71     1,426      .64 
Home equity lines                                                           
 of credit               466      .42        993     .90       417      .38 
Residential                                                                 
 construction          1,671     2.13        212     .27       327      .40 
Consumer                                                                    
 installment             137      .18        415     .54       475      .62 
                    ---------           --------          ---------         
 Total              $  4,175      .38   $  4,039     .38  $  4,445      .41 
                    =========           ========          =========         
                                                                            
                                                                            
NET CHARGE-OFFS BY MARKET                                                   
North Georgia       $   (741)    (.25)% $  1,272     .42% $  1,603      .51%
Atlanta MSA            1,481      .46      1,232     .39       636      .20 
North Carolina         2,161     1.55        577     .41     1,104      .76 
Coastal Georgia          116      .11        512     .49       345      .33 
Gainesville MSA          797     1.23        141     .22       346      .54 
East Tennessee           288      .42        239     .35       323      .46 
South Carolina /                                                            
 Corporate                 -        -          -       -         -        - 
Other (3)                 73      .14         66     .14        88      .20 
                    ---------           --------          ---------         
 Total              $  4,175      .38   $  4,039     .38  $  4,445      .41 
                    =========           ========          =========         
                                                                            
(1) Excludes non-performing loans and foreclosed properties covered by the  
 loss-sharing agreement with the FDIC, related to the acquisition of        
 Southern Community Bank.                                                   
(2) Annualized.                                                             
(3) Includes purchased indirect auto loans that are not assigned to a       
 geographic region.                                                         
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Consolidated Statement of Income (Unaudited)                                
                                                                            
----------------------------------------------------------------------------
                             Three Months Ended         Six Months Ended    
                                  June 30,                  June 30,        
                         ------------------------- -------------------------
(in thousands, except                                                       
 per share data)             2014         2013         2014         2013    
------------------------ ------------ ------------ ------------ ------------
                                                                            
Interest revenue:                                                           
 Loans, including fees   $    48,261  $    50,730  $    95,949  $   101,665 
 Investment securities,                                                     
  including tax exempt                                                      
  of $193, $210, $381                                                       
  and $422                    12,165       10,074       23,772       20,018 
 Deposits in banks and                                                      
  short-term investments         980          916        1,823        1,786 
                         ------------ ------------ ------------ ------------
  Total interest revenue      61,406       61,720      121,544      123,469 
                         ------------ ------------ ------------ ------------
                                                                            
Interest expense:                                                           
 Deposits:                                                                  
 NOW                             411          419          851          873 
 Money market                    757          534        1,320        1,096 
 Savings                          21           36           41           72 
 Time                          2,018        2,950        3,789        6,241 
                         ------------ ------------ ------------ ------------
  Total deposit interest                                                    
   expense                     3,207        3,939        6,001        8,282 
 Short-term borrowings           908          522        1,748        1,038 
 Federal Home Loan Bank                                                     
  advances                        80           30          138           49 
 Long-term debt                2,638        2,666        5,272        5,328 
                         ------------ ------------ ------------ ------------
  Total interest expense       6,833        7,157       13,159       14,697 
                         ------------ ------------ ------------ ------------
  Net interest revenue        54,573       54,563      108,385      108,772 
 Provision for credit                                                       
  losses                       2,200       48,500        4,700       59,500 
                         ------------ ------------ ------------ ------------
  Net interest revenue                                                      
   after provision for                                                      
   credit losses              52,373        6,063      103,685       49,272 
                         ------------ ------------ ------------ ------------
                                                                            
Fee revenue:                                                                
 Service charges and                                                        
  fees                         8,527        7,972       16,425       15,375 
 Mortgage loan and other                                                    
  related fees                 1,877        3,003        3,231        5,658 
 Brokerage fees                1,245        1,063        2,422        1,830 
 Securities gains, net         4,435            -        4,652          116 
 Loss from prepayment of                                                    
  debt                        (4,446)           -       (4,446)           - 
 Other                         2,505        3,905        4,035        5,875 
                         ------------ ------------ ------------ ------------
  Total fee revenue           14,143       15,943       26,319       28,854 
                         ------------ ------------ ------------ ------------
  Total revenue               66,516       22,006      130,004       78,126 
                         ------------ ------------ ------------ ------------
                                                                            
Operating expenses:                                                         
 Salaries and employee                                                      
  benefits                    24,287       24,734       48,683       48,326 
 Communications and                                                         
  equipment                    3,037        3,468        6,276        6,514 
 Occupancy                     3,262        3,449        6,640        6,816 
 Advertising and public                                                     
  relations                    1,139        1,037        1,765        1,975 
 Postage, printing and                                                      
  supplies                       804          894        1,580        1,757 
 Professional fees             2,172        2,499        3,599        4,865 
 Foreclosed property             102        5,151          218        7,484 
 FDIC assessments and                                                       
  other regulatory                                                          
  charges                      1,425        2,505        2,778        5,010 
 Amortization of                                                            
  intangibles                    361          491          748        1,196 
 Other                         3,943        4,595        7,295        8,650 
                         ------------ ------------ ------------ ------------
  Total operating                                                           
   expenses                   40,532       48,823       79,582       92,593 
                         ------------ ------------ ------------ ------------
  Net income (loss)                                                         
   before income taxes        25,984      (26,817)      50,422      (14,467)
 Income tax expense                                                         
  (benefit)                    9,627     (256,781)      18,665     (256,196)
                         ------------ ------------ ------------ ------------
  Net income                  16,357      229,964       31,757      241,729 
 Preferred stock                                                            
  dividends and discount                                                    
  accretion                        -        3,055          439        6,107 
                         ------------ ------------ ------------ ------------
  Net income available                                                      
   to common                                                                
   shareholders          $    16,357  $   226,909  $    31,318  $   235,622 
                         ============ ============ ============ ============
                                                                            
Earnings per common                                                         
 share:                                                                     
 Basic                   $       .27  $      3.90  $       .52  $      4.05 
 Diluted                         .27         3.90          .52         4.05 
Weighted average common                                                     
 shares outstanding:                                                        
 Basic                        60,712       58,141       60,386       58,111 
 Diluted                      60,714       58,141       60,388       58,111 
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Consolidated Balance Sheet (Unaudited)                                      
                                                                            
----------------------------------------------------------------------------
                                        June 30,   December 31,   June 30,  
(in thousands, except share and per                                         
 share data)                              2014         2013         2013    
------------------------------------- ------------ ------------ ------------
                                                                            
ASSETS                                                                      
 Cash and due from banks              $    91,791  $    71,230  $    62,564 
 Interest-bearing deposits in banks       100,270      119,669      141,016 
 Short-term investments                    47,999       37,999       57,000 
                                      ------------ ------------ ------------
  Cash and cash equivalents               240,060      228,898      260,580 
 Securities available for sale          1,741,268    1,832,217    1,937,264 
 Securities held to maturity (fair                                          
  value $458,864, $485,585 and                                              
  $226,695)                               448,752      479,742      214,947 
 Mortgage loans held for sale              14,918       10,319       19,150 
 Loans, net of unearned income          4,410,285    4,329,266    4,189,368 
  Less allowance for loan losses          (73,248)     (76,762)     (81,845)
                                      ------------ ------------ ------------
   Loans, net                           4,337,037    4,252,504    4,107,523 
 Assets covered by loss sharing                                             
  agreements with the FDIC                  3,595       22,882       35,675 
 Premises and equipment, net              161,614      163,589      167,197 
 Bank owned life insurance                 80,922       80,670       82,276 
 Accrued interest receivable               19,141       19,598       19,279 
 Intangible assets                          2,731        3,480        4,315 
 Foreclosed property                        2,969        4,221        3,936 
 Net deferred tax asset                   233,149      258,518      272,287 
 Derivative financial instruments          22,024       23,833        9,017 
 Other assets                              43,886       44,948       29,189 
                                      ------------ ------------ ------------
  Total assets                        $ 7,352,066  $ 7,425,419  $ 7,162,635 
                                      ============ ============ ============
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Liabilities:                                                                
 Deposits:                                                                  
  Demand                              $ 1,519,635  $ 1,388,512  $ 1,349,804 
  NOW                                   1,334,883    1,427,939    1,225,664 
  Money market                          1,245,912    1,227,575    1,167,889 
  Savings                                 279,203      251,125      247,821 
  Time:                                                                     
   Less than $100,000                     805,289      892,961      982,009 
   Greater than $100,000                  554,310      588,689      664,112 
  Brokered                                424,313      424,704      374,530 
                                      ------------ ------------ ------------
   Total deposits                       6,163,545    6,201,505    6,011,829 
 Short-term borrowings                     76,256       53,241       54,163 
 Federal Home Loan Bank advances          175,125      120,125       70,125 
 Long-term debt                           129,865      129,865      124,845 
 Derivative financial instruments          36,545       46,232       29,330 
 Unsettled securities purchases             7,264       29,562        1,582 
 Accrued expenses and other                                                 
  liabilities                              41,497       49,174       41,458 
                                      ------------ ------------ ------------
  Total liabilities                     6,630,097    6,629,704    6,333,332 
                                      ------------ ------------ ------------
Shareholders' equity:                                                       
 Preferred stock, $1 par value;                                             
  10,000,000 shares authorized;                                             
  Series A; $10 stated value; 0, 0                                          
   and 21,700 shares issued and                                             
   outstanding                                  -            -          217 
  Series B; $1,000 stated value; 0,                                         
   105,000 and 180,000 shares issued                                        
   and outstanding                              -      105,000      179,323 
  Series D; $1,000 stated value; 0,                                         
   16,613 and 16,613 shares issued                                          
   and outstanding                              -       16,613       16,613 
 Common stock, $1 par value;                                                
  100,000,000 shares authorized;                                            
  50,058,295, 46,243,345 and                                                
   43,356,492 shares issued and                                             
   outstanding                             50,058       46,243       43,356 
 Common stock, non-voting, $1 par                                           
  value; 26,000,000 shares                                                  
  authorized;                                                               
  10,080,787, 13,188,206 and                                                
   14,474,810 shares issued and                                             
   outstanding                             10,081       13,188       14,475 
 Common stock issuable; 314,039,                                            
  241,832 and 271,215 shares                4,649        3,930        4,705 
 Capital surplus                        1,091,780    1,078,676    1,057,931 
 Accumulated deficit                     (418,583)    (448,091)    (473,531)
 Accumulated other comprehensive loss     (16,016)     (19,844)     (13,786)
                                      ------------ ------------ ------------
  Total shareholders' equity              721,969      795,715      829,303 
                                      ------------ ------------ ------------
  Total liabilities and shareholders'                                       
   equity                             $ 7,352,066  $ 7,425,419  $ 7,162,635 
                                      ============ ============ ============
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Average Consolidated Balance Sheets and Net Interest Analysis               
For the Three Months Ended June 30,                                         
                                                                            
----------------------------------------------------------------------------
                                                      2014                  
                                   -----------------------------------------
(dollars in thousands, taxable         Average                       Avg.   
 equivalent)                           Balance         Interest      Rate   
----------------------------------------------------------------------------
Assets:                                                                     
Interest-earning assets:                                                    
  Loans, net of unearned income                                             
   (1)(2)                          $     4,376,174  $       48,435     4.44%
  Taxable securities (3)                 2,306,457          11,972     2.08 
  Tax-exempt securities (1)(3)              19,592             316     6.45 
  Federal funds sold and other                                              
   interest-earning assets                 158,418           1,060     2.68 
                                   ---------------  --------------          
                                                                            
    Total interest-earning assets        6,860,641          61,783     3.61 
                                   ---------------  --------------          
Non-interest-earning assets:                                                
  Allowance for loan losses                (76,843)                         
  Cash and due from banks                   63,853                          
  Premises and equipment                   161,443                          
  Other assets (3)                         408,768                          
                                   ---------------                          
    Total assets                   $     7,417,862                          
                                   ===============                          
                                                                            
Liabilities and Shareholders'                                               
 Equity:                                                                    
Interest-bearing liabilities:                                               
  Interest-bearing deposits:                                                
  NOW                              $     1,356,141             411      .12 
  Money market                           1,361,045             757      .22 
  Savings                                  275,540              21      .03 
  Time less than $100,000                  818,048             933      .46 
  Time greater than $100,000               563,489             865      .62 
  Brokered time deposits                   334,919             220      .26 
                                   ---------------  --------------          
    Total interest-bearing deposits      4,709,182           3,207      .27 
                                   ---------------  --------------          
                                                                            
Federal funds purchased and other                                           
 borrowings                                108,311             908     3.36 
Federal Home Loan Bank advances            154,795              80      .21 
Long-term debt                             129,865           2,638     8.15 
                                   ---------------  --------------          
    Total borrowed funds                   392,971           3,626     3.70 
                                   ---------------  --------------          
                                                                            
    Total interest-bearing                                                  
     liabilities                         5,102,153           6,833      .54 
                                                    --------------          
Non-interest-bearing liabilities:                                           
  Non-interest-bearing deposits          1,477,849                          
  Other liabilities                        125,173                          
                                   ---------------                          
    Total liabilities                    6,705,175                          
  Shareholders' equity                     712,687                          
                                   ---------------                          
    Total liabilities and                                                   
     shareholders' equity          $     7,417,862                          
                                   ===============                          
                                                                            
Net interest revenue                                $       54,950          
                                                    ==============          
Net interest-rate spread                                               3.07%
                                                                   ======== 
                                                                            
Net interest margin(4)                                                 3.21%
                                                                   ======== 
                                                                            
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Average Consolidated Balance Sheets and Net Interest Analysis               
For the Three Months Ended June 30,                                         
                                                                            
----------------------------------------------------------------------------
                                                      2013                  
                                    ----------------------------------------
(dollars in thousands, taxable          Average                      Avg.   
 equivalent)                            Balance        Interest      Rate   
----------------------------------------------------------------------------
Assets:                                                                     
Interest-earning assets:                                                    
  Loans, net of unearned income                                             
   (1)(2)                           $    4,253,361  $       50,808     4.79%
  Taxable securities (3)                 2,139,221           9,864     1.84 
  Tax-exempt securities (1)(3)              21,597             344     6.37 
  Federal funds sold and other                                              
   interest-earning assets                 193,370           1,072     2.22 
                                    --------------  --------------          
                                                                            
    Total interest-earning assets        6,607,549          62,088     3.77 
                                    --------------  --------------          
Non-interest-earning assets:                                                
  Allowance for loan losses               (106,417)                         
  Cash and due from banks                   63,457                          
  Premises and equipment                   168,272                          
  Other assets (3)                         181,987                          
                                    --------------                          
    Total assets                    $    6,914,848                          
                                    ==============                          
                                                                            
Liabilities and Shareholders'                                               
 Equity:                                                                    
Interest-bearing liabilities:                                               
  Interest-bearing deposits:                                                
  NOW                               $    1,245,301             419      .13 
  Money market                           1,306,522             534      .16 
  Savings                                  245,211              36      .06 
  Time less than $100,000                1,000,511           1,568      .63 
  Time greater than $100,000               674,200           1,380      .82 
  Brokered time deposits                   195,182               2      .00 
                                    --------------  --------------          
    Total interest-bearing deposits      4,666,927           3,939      .34 
                                    --------------  --------------          
                                                                            
Federal funds purchased and other                                           
 borrowings                                 72,139             522     2.90 
Federal Home Loan Bank advances             58,916              30      .20 
Long-term debt                             124,838           2,666     8.57 
                                    --------------  --------------          
    Total borrowed funds                   255,893           3,218     5.04 
                                    --------------  --------------          
                                                                            
    Total interest-bearing                                                  
     liabilities                         4,922,820           7,157      .58 
                                                    --------------          
Non-interest-bearing liabilities:                                           
  Non-interest-bearing deposits          1,315,812                          
  Other liabilities                         40,603                          
                                    --------------                          
    Total liabilities                    6,279,235                          
  Shareholders' equity                     635,613                          
                                    --------------                          
    Total liabilities and                                                   
     shareholders' equity           $    6,914,848                          
                                    ==============                          
                                                                            
Net interest revenue                                $       54,931          
                                                    ==============          
Net interest-rate spread                                               3.19%
                                                                   ======== 
                                                                            
Net interest margin(4)                                                 3.33%
                                                                   ======== 
                                                                            
(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 $1.86 million in 2014 and pretax unrealized gains of    
$17.7 million                                                               
in 2013 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 Six Months Ended June 30,                                           
                                                                            
----------------------------------------------------------------------------
                                                      2014                  
                                   -----------------------------------------
(dollars in thousands, taxable         Average                       Avg.   
 equivalent)                           Balance         Interest      Rate   
----------------------------------------------------------------------------
Assets:                                                                     
Interest-earning assets:                                                    
  Loans, net of unearned income                                             
   (1)(2)                          $     4,365,930  $       96,303     4.45%
  Taxable securities (3)                 2,303,404          23,391     2.03 
  Tax-exempt securities (1)(3)              19,881             624     6.28 
  Federal funds sold and other                                              
   interest-earning assets                 154,651           1,960     2.53 
                                   ---------------  --------------          
                                                                            
    Total interest-earning assets        6,843,866         122,278     3.60 
                                   ---------------  --------------          
Non-interest-earning assets:                                                
  Allowance for loan losses                (77,165)                         
  Cash and due from banks                   62,958                          
  Premises and equipment                   162,112                          
  Other assets (3)                         409,466                          
                                   ---------------                          
    Total assets                   $     7,401,237                          
                                   ===============                          
                                                                            
Liabilities and Shareholders'                                               
 Equity:                                                                    
Interest-bearing liabilities:                                               
  Interest-bearing deposits:                                                
  NOW                              $     1,385,964             851      .12 
  Money market                           1,368,975           1,320      .19 
  Savings                                  267,588              41      .03 
  Time less than $100,000                  847,707           1,946      .46 
  Time greater than $100,000               570,799           1,783      .63 
  Brokered time deposits                   311,579              60      .04 
                                   ---------------  --------------          
    Total interest-bearing deposits      4,752,612           6,001      .25 
                                   ---------------  --------------          
                                                                            
  Federal funds purchased and other                                         
   borrowings                              110,436           1,748     3.19 
  Federal Home Loan Bank advances          140,014             138      .20 
  Long-term debt                           129,865           5,272     8.19 
                                   ---------------  --------------          
    Total borrowed funds                   380,315           7,158     3.80 
                                   ---------------  --------------          
                                                                            
    Total interest-bearing                                                  
     liabilities                         5,132,927          13,159      .52 
                                                    --------------          
Non-interest-bearing liabilities:                                           
  Non-interest-bearing deposits          1,439,447                          
  Other liabilities                        120,943                          
                                   ---------------                          
    Total liabilities                    6,693,317                          
Shareholders' equity                       707,920                          
                                   ---------------                          
    Total liabilities and                                                   
     shareholders' equity          $     7,401,237                          
                                   ===============                          
                                                                            
Net interest revenue                                $      109,119          
                                                    ==============          
Net interest-rate spread                                               3.08%
                                                                   ======== 
                                                                            
Net interest margin(4)                                                 3.21%
                                                                   ======== 
                                                                            
                                                                            
                                                                            
UNITED COMMUNITY BANKS, INC.                                                
Average Consolidated Balance Sheets and Net Interest Analysis               
For the Six Months Ended June 30,                                           
                                                                            
----------------------------------------------------------------------------
                                                      2013                  
                                    ----------------------------------------
(dollars in thousands, taxable          Average                      Avg.   
 equivalent)                            Balance        Interest      Rate   
--------------------------------------------------------------------------- 
Assets:                                                                     
Interest-earning assets:                                                    
  Loans, net of unearned income                                             
   (1)(2)                           $    4,225,215  $      101,808     4.86%
  Taxable securities (3)                 2,129,208          19,596     1.84 
  Tax-exempt securities (1)(3)              21,665             691     6.38 
  Federal funds sold and other                                              
   interest-earning assets                 201,478           2,107     2.09 
                                    --------------  --------------          
                                                                            
    Total interest-earning assets        6,577,566         124,202     3.80 
                                    --------------  --------------          
Non-interest-earning assets:                                                
  Allowance for loan losses               (108,667)                         
  Cash and due from banks                   63,873                          
  Premises and equipment                   168,773                          
  Other assets (3)                         173,168                          
                                    --------------                          
    Total assets                    $    6,874,713                          
                                    ==============                          
                                                                            
Liabilities and Shareholders'                                               
 Equity:                                                                    
Interest-bearing liabilities:                                               
  Interest-bearing deposits:                                                
  NOW                               $    1,274,144             873      .14 
  Money market                           1,282,101           1,096      .17 
  Savings                                  239,691              72      .06 
  Time less than $100,000                1,020,000           3,317      .66 
  Time greater than $100,000               684,320           2,857      .84 
  Brokered time deposits                   185,210              67      .07 
                                    --------------  --------------          
    Total interest-bearing deposits      4,685,466           8,282      .36 
                                    --------------  --------------          
                                                                            
  Federal funds purchased and other                                         
   borrowings                               72,148           1,038     2.90 
  Federal Home Loan Bank advances           46,064              49      .21 
  Long-term debt                           124,827           5,328     8.61 
                                    --------------  --------------          
    Total borrowed funds                   243,039           6,415     5.32 
                                    --------------  --------------          
                                                                            
    Total interest-bearing                                                  
     liabilities                         4,928,505          14,697      .60 
                                                    --------------          
Non-interest-bearing liabilities:                                           
  Non-interest-bearing deposits          1,278,875                          
  Other liabilities                         55,639                          
                                    --------------                          
    Total liabilities                    6,263,019                          
Shareholders' equity                       611,694                          
                                    --------------                          
    Total liabilities and                                                   
     shareholders' equity           $    6,874,713                          
                                    ==============                          
                                                                            
Net interest revenue                                $      109,505          
                                                    ==============          
Net interest-rate spread                                               3.20%
                                                                   ======== 
                                                                            
Net interest margin(4)                                                 3.35%
                                                                   ======== 
                                                                            
(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 losses of $1.37 million in 2014 and pretax unrealized gains of   
$17.4 million                                                               
in 2013 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.                                         

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