United Community Banks, Inc. Reports Second Quarter Earnings

Rhea-AI Summary

United Community Banks (NYSE: UCB) reported second quarter 2026 GAAP diluted EPS of $0.95, up $0.32 year over year, and operating EPS of $0.71, up 8%. Net income was $115.6 million, while operating net income was $86.4 million. Total revenue reached $279.3 million, a 7% increase, driven by 6.8% annualized loan growth of $332 million and a fully taxable equivalent net interest margin of 3.68%, up 18 basis points year over year and the sixth consecutive quarter of margin expansion.

Results included a $38.5 million allowance release tied to reclassifying Navitas equipment finance loans to held-for-sale under a pending sale expected to close in the third quarter of 2026, producing a negative provision of $29.8 million. Excluding this, the provision was $8.7 million. Noninterest expense included a $4.5 million California lender’s license settlement for Navitas. United highlighted strong capital with preliminary CET1 of 13.5% and declared a quarterly dividend of $0.25 per share, up 4% year over year.

Positive

• GAAP EPS $0.95, up $0.32 vs. Q2 2025
• Operating EPS $0.71, up 8% year over year
• Total revenue $279.3M, increased 7% vs. Q2 2025
• Net interest margin 3.68%, up 18 bps year over year
• Loan balances +$332M, 6.8% annualized growth vs. Q1 2026
• Pre-tax, pre-provision income $119.4M, up 6% year over year
• CET1 capital ratio 13.5%, indicating strong capitalization
• Quarterly dividend $0.25, up 4% year over year

Negative

• Noninterest expense $159.9M, up $7.4M operating vs. Q1 2026
• $4.5M Navitas California license settlement and legal costs
• Customer deposits -$295M sequentially, mainly seasonal public funds
• Nonperforming assets $103.4M, up 23% year over year
• ACL to total loans 1.04%, down from 1.21% a year ago
• Net charge-offs $7.9M, including $3.7M on Navitas portfolio

News Explained

The release adds that United Community Banks’ acquisition of Peach State Bank is recently announced, adding a bank-combination transaction to its disclosed strategic actions without establishing a completed change to existing ownership.

Market Context

The prior earnings record averaged a 0.84% move across five tag-matched events. This record adds con...

Analysis

The prior earnings record averaged a 0.84% move across five tag-matched events. This record adds context to reported margin expansion, while Net Selling insider sentiment and an active S-3ASR shelf are factors to monitor.

Key Figures

Loan portfolio growth: $332 million GAAP EPS: $0.95 Operating EPS: $0.71 +5 more

8 metrics

Loan portfolio growth $332 million Second quarter 2026; 6.8% annualized

GAAP EPS $0.95 Second quarter 2026; up $0.32 year over year

Operating EPS $0.71 Second quarter 2026; up $0.05, or 8%, year over year

Net income $115.6 million Second quarter 2026; up $36.9 million year over year

Total revenue $279.3 million Second quarter 2026; up $19.0 million, or 7%, year over year

Net interest margin 3.68% Second quarter 2026; up 18 basis points year over year

Provision release $38.5 million Pre-tax release included in GAAP EPS

Common Equity Tier 1 13.5% Preliminary second-quarter 2026 capital ratio

Previous Earnings Reports

5 past events · Latest: Apr 21 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 21	First-quarter earnings	Positive	-3.3%	Revenue and margin improved, but shares declined 3.29% over 24 hours.
Jan 14	Fourth-quarter earnings	Positive	+2.8%	Revenue, earnings, margin, loans, and capital metrics improved year over year.
Oct 22	Third-quarter earnings	Positive	-0.5%	Net income, revenue, loans, margin, and capital metrics showed reported improvement.
Apr 22	First-quarter earnings	Positive	+6.9%	Earnings, margin, loan growth, credit quality, capital, and dividend improved.
Oct 23	Third-quarter results	Negative	-1.6%	Lower GAAP EPS and elevated losses accompanied the reported quarterly results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Tag-matched earnings reactions were mixed, with three positive reactions and two negative reactions.

Key Terms

net interest margin, pre-tax, pre-provision income, held-for-sale, net charge-offs, +2 more

6 terms

net interest margin financial

"We further widened our net interest margin, which is up for the sixth consecutive quarter"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

pre-tax, pre-provision income financial

"Net income of $115.6 million and pre-tax, pre-provision income of $119.4 million"

Pre-tax, pre-provision income is a measure of a financial firm's earnings before deducting taxes and the money it sets aside to cover potential loan losses. Think of it as the company’s operating profit before accounting for future bad debts and taxes; like a shop’s sales minus running costs but before any emergency savings for damaged goods. Investors use it to see core profitability and to compare operating performance across periods or firms without the noise of loan-loss reserves and tax effects.

held-for-sale financial

"reclassification of Navitas equipment finance loans to held-for-sale"

An asset classified as "held-for-sale" is one a company has decided to sell rather than keep using, and expects to complete the sale within a short time frame. Investors care because the asset is removed from normal operations and is reported at the lower of its book value or estimated sale value, which can change the balance sheet, signal a shift in strategy, and affect expected cash proceeds—think of it as marking an item in a garage for immediate sale rather than keeping it in the attic.

net charge-offs financial

"net charge-offs were $7.9 million, or 0.16% of average loans"

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

allowance for credit losses financial

"Allowance for credit losses coverage was 1.04% of total loans"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

common equity tier 1 regulatory

"preliminary Common Equity Tier 1 of 13.5%"

Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Strong Loan Growth, Sixth Consecutive Quarter of Margin Expansion, and Focus on Core Banking Business Drive Quarterly Results

GREENVILLE, S.C., July 21, 2026 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced financial results for the quarter ended June 30, 2026, with strong spread income driven by 6.8% annualized loan growth and margin expansion for the sixth consecutive quarter.

Chairman and CEO Lynn Harton stated, “Our second quarter results reflect strong loan growth and a strategic emphasis on our core banking business. Our loan portfolio grew $332 million in the second quarter, an annualized rate of 6.8%, reflecting the demographic strength of our geographic footprint and the diligence of our bankers. Excluding the sale of our Navitas equipment finance business, which is expected to close in the third quarter, per a previously announced agreement, we had over $1 billion in loan production and grew loans 6.4%, annualized. We further widened our net interest margin, which is up for the sixth consecutive quarter, while maintaining our focus on disciplined relationship pricing.”

Harton continued, “We’ve recently announced the acquisition of Peach State Bank and the sale of Navitas, two strategic actions that I’m confident will be catalysts to the opportunities United has to expand and deepen relationships in the Southeast, one of the best footprints in banking. These transactions strengthen our ability to focus on our core business and position us for greater long-term success.”

Second Quarter 2026 Financial Highlights:

• EPS of $0.95 was up $0.32 on a GAAP basis compared to second quarter of 2025, and EPS of $0.71 was up $0.05, or 8%, on an operating basis compared to second quarter of 2025.
  • GAAP EPS included a $38.5 million pre-tax provision release resulting from the reclassification of Navitas equipment finance loans to held-for-sale in the second quarter, pursuant to a previously announced agreement, which is expected to close in the third quarter of 2026.
• Net income of $115.6 million and pre-tax, pre-provision income of $119.4 million, up $36.9 million and $7.0 million, respectively, from a year ago.
• Total revenue of $279.3 million improved $19.0 million, or 7%, from a year ago.
• Net interest margin of 3.68% increased by 18 basis points from a year ago and 3 basis points from the first quarter of 2026. The improvement from a year ago results from a lower cost of funds and improving asset mix.
• Provision for credit losses was a negative $29.8 million, reflecting the $38.5 million release of the allowance on the Navitas loans that were reclassified to held-for-sale.
  • Excluding the release, the provision was $8.7 million, down $3.1 million from a year ago and $2.2 million from the first quarter.
  • Allowance for credit losses coverage was 1.04% of total loans; net charge-offs were $7.9 million, or 0.16% of average loans, annualized. Second quarter net charge-offs include $3.7 million on the Navitas portfolio.
• Noninterest expense was up $2.6 million on a GAAP basis and up $7.4 million on an operating basis compared to the first quarter.
  • Included in noninterest expense is a settlement payment to the State of California to obtain a lender’s license for Navitas. Navitas previously held a California lender’s license; however, after being acquired by United, Navitas believed that, as a bank subsidiary, they were no longer required to hold a license. The matter has been closed and license obtained. United incurred a $4.5 million expense in the second quarter, representing a payment to the California Department of Financial Protection and Innovation (DFPI) and our associated legal fees.
• Efficiency ratio of 57.0% on a GAAP basis, or 56.7% on an operating basis, up slightly from a year ago and first quarter mostly due to the Navitas California license settlement.
• Loan growth of $332 million, or 6.8% annualized, from the first quarter.
• Customer deposits were down $295 million from the first quarter, mostly due to seasonal public funds outflows.
• Return on assets was 1.63% on a GAAP basis and 1.22% on an operating basis.
• Return on common equity and return on tangible common equity on an operating basis were 12.6% and 13.0%, respectively.
• Maintained strong capital ratios with preliminary Common Equity Tier 1 of 13.5%.
• Quarterly common dividend of $0.25 per share declared during the quarter, up 4% year over year.
  
  

Conference Call
United will hold a conference call on Tuesday, July 21, 2026 at 9:00 a.m. EDT to discuss the contents of this press release and to share business highlights for the quarter. Participants can pre-register for the conference call by navigating to https://dpregister.com/sreg/10209320/1040bcbbd98. Those without internet access or unable to pre-register may dial in by calling 1-844-676-1337. The conference call also will be webcast and can be accessed by selecting “Events and Presentations” under “News and Events” within the Investor Relations section of the company's website, ucbi.com.

UNITED COMMUNITY BANKS, INC.
Selected Financial Information
(in thousands, except per share data)
		2026								2025											Second Quarter 2026 - 2025 Change			For the Six Months Ended June 30,								YTD 2026 - 2025 Change
	Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter								2026				2025
INCOME SUMMARY
Interest revenue	$	344,371			$	333,961			$	346,367			$	353,850			$	347,365						$	678,332			$	682,722
Interest expense		103,471				101,197				108,441				120,221				121,834							204,668				245,170
Net interest revenue		240,900				232,764				237,926				233,629				225,531			7	%			473,664				437,552			8	%
Noninterest income		38,380				43,746				40,462				43,219				34,708			11				82,126				70,364			17
Total revenue		279,280				276,510				278,388				276,848				260,239			7				555,790				507,916			9
Provision for credit losses		(29,803	)			10,853				13,662				7,907				11,818			n/m				(18,950	)			27,237			n/m
Noninterest expense		159,915				157,302				152,048				150,868				147,919			8				317,217				289,018			10
Income before income tax expense		149,168				108,355				112,678				118,073				100,502			48				257,523				191,661			34
Income tax expense		33,530				24,066				26,223				26,579				21,769			54				57,596				41,515			39
Net income		115,638				84,289				86,455				91,494				78,733			47				199,927				150,146			33
Non-operating items		(37,582	)			508				606				3,468				4,833							(37,074	)			6,130
Income tax benefit of non-operating items		8,347				(113	)			(133	)			(751	)			(1,047	)						8,234				(1,328	)
Net income - operating(1)	$	86,403			$	84,684			$	86,928			$	94,211			$	82,519			5			$	171,087			$	154,948			10
Pre-tax pre-provision income(5)	$	119,365			$	119,208			$	126,340			$	125,980			$	112,320			6			$	238,573			$	218,898			9
PERFORMANCE MEASURES
Per common share:
Diluted net income - GAAP	$	0.95			$	0.69			$	0.70			$	0.70			$	0.63			51			$	1.65			$	1.21			36
Diluted net income - operating(1)		0.71				0.70				0.71				0.75				0.66			8				1.41				1.25			13
Cash dividends declared		0.25				0.25				0.25				0.25				0.24			4				0.50				0.48			4
Book value		31.27				30.54				30.17				29.44				28.89			8				31.27				28.89			8
Tangible book value(3)		23.31				22.56				22.24				21.59				21.00			11				23.31				21.00			11
Key performance ratios:
Return on common equity - GAAP(2)(4)		12.56	%			9.35	%			9.48	%			9.20	%			8.45	%						10.97	%			8.18	%
Return on common equity - operating(1)(2)(4)		9.39				9.39				9.53				9.83				8.87							9.39				8.45
Return on tangible common equity - operating(1)(2)(3)(4)		12.98				13.05				13.31				13.56				12.34							13.02				11.78
Return on assets - GAAP(4)		1.63				1.22				1.21				1.29				1.11							1.43				1.06
Return on assets - operating(1)(4)		1.22				1.22				1.22				1.33				1.16							1.22				1.10
Return on assets - pre-tax pre-provision, excluding non-operating items(1)(4)(5)		1.70				1.73				1.78				1.83				1.66							1.71				1.61
Net interest margin (fully taxable equivalent)(4)		3.68				3.65				3.62				3.58				3.50							3.66				3.43
Efficiency ratio - GAAP		57.01				56.66				54.40				54.30				56.69							56.84				56.71
Efficiency ratio - operating(1)		56.69				55.65				54.19				53.05				54.84							56.18				55.51
Equity to total assets		12.89				12.97				12.99				12.78				12.86							12.89				12.86
Tangible common equity to tangible assets(3)		9.94				9.92				9.92				9.71				9.45							9.94				9.45
ASSET QUALITY
Nonperforming assets ("NPAs")	$	103,387			$	98,623			$	93,498			$	97,916			$	83,959			23			$	103,387			$	83,959			23
ACL - funded loans		168,705				208,396				210,429				215,791				216,500			(22	)			168,705				216,500			(22	)
ACL - total		188,329				225,996				225,520				228,276				228,045			(17	)			188,329				228,045			(17	)
Net charge-offs		7,864				10,377				16,418				7,676				8,225			(4	)			18,241				17,832			2
ACL - funded loans to loans		0.94	%			1.06	%			1.09	%			1.13	%			1.14	%						0.94	%			1.14	%
ACL - total to loans		1.04				1.15				1.16				1.19				1.21							1.04				1.21
Net charge-offs to average loans(4)		0.16				0.22				0.34				0.16				0.18							0.19				0.20
NPAs to total assets		0.36				0.35				0.33				0.35				0.30							0.36				0.30
AT PERIOD END ($ in millions)
Loans held for investment	$	18,024			$	19,602			$	19,384			$	19,175			$	18,921			(5	)		$	18,024			$	18,921			(5	)
Investment securities		6,377				5,889				5,988				6,163				6,382			—				6,377				6,382			—
Total assets		29,051				28,177				28,003				28,143				28,086			3				29,051				28,086			3
Deposits		23,724				24,025				23,798				24,021				23,963			(1	)			23,724				23,963			(1	)
Shareholders’ equity		3,745				3,655				3,639				3,597				3,613			4				3,745				3,613			4
Common shares outstanding (thousands)		119,764				119,684				120,598				121,553				121,431			(1	)			119,764				121,431			(1	)

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

UNITED COMMUNITY BANKS, INC.
Loan Portfolio Composition at Period-End
		2026								2025								Linked Quarter Change				Year over Year Change
(in millions)	Second Quarter				First Quarter				Fourth Quarter			Third Quarter			Second Quarter
LOANS BY CATEGORY
Owner occupied commercial RE	$	4,117			$	4,041			$	3,950		$	3,678		$	3,563		$	76			$	554
Income producing commercial RE		5,018				4,984				5,032			4,534			4,548			34				470
Commercial & industrial(1)		2,859				2,771				2,696			2,593			2,516			88				343
Commercial construction & land		1,143				1,072				998			1,734			1,752			71				(609	)
Equipment financing(1)		—				1,897				1,848			1,808			1,778			(1,897	)			(1,778	)
Total commercial		13,137				14,765				14,524			14,347			14,157			(1,628	)			(1,020	)
Residential mortgage		3,101				3,122				3,157			3,198			3,210			(21	)			(109	)
Home equity		1,403				1,344				1,319			1,252			1,180			59				223
Residential construction & land		195				185				191			178			174			10				21
Consumer		193				187				188			192			191			6				2
Other		(5	)			(1	)			5			8			9			(4	)			(14	)
Total loans held for investment	$	18,024			$	19,602			$	19,384		$	19,175		$	18,921		$	(1,578	)		$	(897	)
LOANS BY MARKET
Georgia	$	4,662			$	4,617			$	4,635		$	4,584		$	4,551		$	45			$	111
South Carolina		3,130				3,037				2,971			2,926			2,872			93				258
North Carolina		2,706				2,722				2,712			2,676			2,626			(16	)			80
Tennessee		1,962				1,895				1,913			1,902			1,881			67				81
Florida		3,283				3,229				3,102			3,040			2,966			54				317
Alabama		1,082				1,049				1,050			1,054			1,016			33				66
Commercial Banking Solutions(2)		1,199				3,053				3,001			2,993			3,009			(1,854	)			(1,810	)
Total loans held for investment	$	18,024			$	19,602			$	19,384		$	19,175		$	18,921		$	(1,578	)		$	(897	)

⁽¹⁾ Substantially all equipment financing loans were transferred to held for sale in the second quarter of 2026 as a result of the pending sale of Navitas Credit Corp. The remaining $35.9 million to be retained were reclassified to the commercial & industrial line as equipment financing no longer represents a significant held-for-investment category at June 30, 2026.

⁽²⁾ Reduction in the second quarter of 2026 reflects the transfer of substantially all equipment financing loans to held for sale.

UNITED COMMUNITY BANKS, INC.
Credit Quality
(in thousands)
		2026						2025
		Second Quarter			First Quarter			Fourth Quarter
NONACCRUAL LOANS
Owner occupied RE		$	20,027		$	18,265		$	11,165
Income producing RE			11,655			11,037			11,488
Commercial & industrial			21,147			19,890			18,294
Commercial construction & land			916			17			18
Equipment financing(1)			—			8,024			10,383
Total commercial			53,745			57,233			51,348
Residential mortgage			30,506			31,906			32,423
Home equity			6,435			6,209			5,247
Residential construction & land			338			355			1,079
Consumer			977			1,009			1,001
Total nonaccrual loans held for investment			92,001			96,712			91,098
Equipment finance nonaccrual loans held for sale(1)			9,392			—			—
OREO and repossessed assets			1,994			1,911			2,400
Total NPAs		$	103,387		$	98,623		$	93,498

⁽¹⁾ Substantially all equipment financing loans were transferred to held for sale in the second quarter of 2026 as a result of the pending sale of Navitas Credit Corp.

			2026													2025
		Second Quarter							First Quarter							Fourth Quarter
(in thousands)		Net Charge-Offs				Net Charge-Offs to Average Loans(1)			Net Charge-Offs				Net Charge-Offs to Average Loans(1)			Net Charge-Offs				Net Charge-Offs to Average Loans(1)
NET CHARGE-OFFS (RECOVERIES) BY CATEGORY
Owner occupied RE		$	(3,447	)		(0.34	)%		$	666			0.07	%		$	1,610			0.17	%
Income producing RE			57			—				(85	)		(0.01	)			(116	)		(0.01	)
Commercial & industrial			6,859			0.97				3,309			0.50				7,557			1.15
Commercial construction & land			(22	)		(0.01	)			6			—				1,484			0.35
Equipment financing			3,697			0.78				5,835			1.29				5,092			1.12
Total commercial			7,144			0.19				9,731			0.27				15,627			0.43
Residential mortgage			57			0.01				133			0.02				126			0.02
Home equity			(24	)		(0.01	)			(54	)		(0.02	)			(94	)		(0.03	)
Residential construction & land			(6	)		(0.01	)			12			0.03				16			0.03
Consumer			693			1.47				555			1.21				743			1.55
Total		$	7,864			0.16			$	10,377			0.22			$	16,418			0.34

⁽¹⁾ Annualized.

UNITED COMMUNITY BANKS, INC. Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)		June 30, 2026				December 31, 2025
ASSETS
Cash and due from banks		$	129,113			$	202,586
Interest-bearing deposits in banks			325,984				193,168
Cash and cash equivalents			455,097				395,754
Trading securities			91,377				—
Debt securities available-for-sale			4,106,366				3,750,863
Debt securities held-to-maturity (fair value $1,848,900 and $1,918,426, respectively)			2,179,043				2,237,356
Mortgage loans held for sale			53,518				39,381
Equipment financing receivables held for sale			1,909,186				—
Loans and leases held for investment			18,024,130				19,384,317
Less allowance for credit losses - loans and leases			(168,705	)			(210,429	)
Loans and leases, net			17,855,425				19,173,888
Premises and equipment, net			394,343				393,714
Bank-owned life insurance			367,506				364,184
Goodwill and other intangible assets, net			961,881				967,882
Other assets			677,400				679,532
Total assets		$	29,051,142			$	28,002,554
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand		$	6,449,517			$	6,252,252
NOW and interest-bearing demand			5,677,423				5,969,864
Money market			6,678,206				6,696,530
Savings			1,094,565				1,085,331
Time			3,665,862				3,619,189
Brokered			158,636				175,264
Total deposits			23,724,209				23,798,430
Short-term borrowings			360,000				85,000
Federal Home Loan Bank advances			800,000				—
Long-term debt			20,602				120,400
Accrued expense and other liabilities			401,327				360,038
Total liabilities			25,306,138				24,363,868
Shareholders' equity:
Common stock, $1 par value; 200,000,000 shares authorized, 119,763,827 and 120,598,266 shares issued and outstanding, respectively			119,764				120,598
Capital surplus			2,724,530				2,754,399
Retained earnings			1,053,438				914,261
Accumulated other comprehensive loss			(152,728	)			(150,572	)
Total shareholders' equity			3,745,004				3,638,686
Total liabilities and shareholders' equity		$	29,051,142			$	28,002,554

UNITED COMMUNITY BANKS, INC. Consolidated Statements of Income (Unaudited)
		Three Months Ended June 30,								Six Months Ended June 30,
(in thousands, except per share data)			2026				2025				2026				2025
Interest revenue:
Loans, including fees		$	295,612			$	288,284			$	581,689			$	562,340
Securities:
Taxable			44,647				54,191				89,130				111,363
Tax-exempt			1,671				1,671				3,317				3,349
Other			2,441				3,219				4,196				5,670
Total interest revenue			344,371				347,365				678,332				682,722
Interest expense:
Deposits:
NOW and interest-bearing demand			28,118				36,956				56,247				74,346
Money market			41,140				49,603				81,849				99,144
Savings			483				1,457				963				2,081
Time			28,362				31,120				57,073				62,499
Deposits			98,103				119,136				196,132				238,070
Short-term borrowings			1,553				83				2,551				1,190
Federal Home Loan Bank advances			3,014				—				3,983				433
Long-term debt			801				2,615				2,002				5,477
Total interest expense			103,471				121,834				204,668				245,170
Net interest revenue			240,900				225,531				473,664				437,552
Noninterest income:
Service charges and fees			10,375				10,122				19,920				19,657
Mortgage loan gains and other related fees			6,780				5,370				14,809				11,492
Wealth management fees			4,932				4,400				9,561				8,865
Net gains from sales of other loans			947				1,995				2,840				3,391
Lending and loan servicing fees			4,098				3,690				8,069				7,855
Securities (losses) gains, net			(2	)			286				131				292
Other			11,250				8,845				26,796				18,812
Total noninterest income			38,380				34,708				82,126				70,364
Total revenue			279,280				260,239				555,790				507,916
Provision for credit losses			(29,803	)			11,818				(18,950	)			27,237
Noninterest expense:
Salaries and employee benefits			96,242				86,997				197,491				171,264
Communications and equipment			13,743				13,332				27,845				27,031
Occupancy			11,232				10,935				22,957				21,864
Advertising and public relations			2,708				2,881				5,105				4,762
Postage, printing and supplies			2,744				2,495				5,501				5,056
Professional fees			6,868				5,609				12,444				11,540
Lending and loan servicing expense			3,105				2,330				5,687				4,317
Outside services - electronic banking			3,555				3,570				7,114				6,333
FDIC assessments and other regulatory charges			4,327				4,745				6,596				9,387
Amortization of intangibles			2,938				3,292				6,001				6,578
Merger-related and other charges			895				4,833				1,768				6,130
Other			11,558				6,900				18,708				14,756
Total noninterest expense			159,915				147,919				317,217				289,018
Income before income taxes			149,168				100,502				257,523				191,661
Income tax expense			33,530				21,769				57,596				41,515
Net income			115,638				78,733				199,927				150,146
Preferred stock dividends			—				1,573				—				3,146
Earnings allocated to participating securities			758				438				1,309				850
Net income available to common shareholders		$	114,880			$	76,722			$	198,618			$	146,150
Net income per common share:
Basic		$	0.95			$	0.63			$	1.65			$	1.21
Diluted			0.95				0.63				1.65				1.21
Weighted average common shares outstanding:
Basic			120,303				121,377				120,400				120,714
Diluted			120,442				121,432				120,583				120,820

UNITED COMMUNITY BANKS, INC. Average Consolidated Balance Sheets and Net Interest Analysis For the Three Months Ended June 30,
			2026										2025
(dollars in thousands, fully taxable equivalent (FTE))		Average Balance				Interest			Average Rate			Average Balance				Interest			Average Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE)(1)(2)		$	19,717,360			$	296,278		6.03	%		$	18,664,228			$	288,023		6.19	%
Taxable securities(3)			5,982,611				44,647		2.99				6,492,288				54,191		3.34
Tax-exempt securities (FTE)(1)(3)			340,501				2,226		2.61				354,162				2,236		2.53
Other interest-earning assets			358,914				2,441		2.73				451,953				3,898		3.46
Total interest-earning assets (FTE)			26,399,386				345,592		5.25				25,962,631				348,348		5.38
Noninterest-earning assets:
Allowance for credit losses			(214,950	)									(220,059	)
Cash and due from banks			149,512										203,909
Premises and equipment			395,986										398,241
Other assets(3)			1,681,658										1,637,125
Total assets		$	28,411,592									$	27,981,847
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand		$	5,755,001				28,118		1.96			$	6,051,489				36,956		2.45
Money market			6,786,045				41,140		2.43				6,645,336				49,603		2.99
Savings			1,094,441				483		0.18				1,195,295				1,457		0.49
Time			3,661,687				27,955		3.06				3,532,848				30,596		3.47
Brokered time deposits			50,655				407		3.22				50,488				524		4.16
Total interest-bearing deposits			17,347,829				98,103		2.27				17,475,456				119,136		2.73
Federal funds purchased and other borrowings			167,718				1,553		3.71				7,412				83		4.49
Federal Home Loan Bank advances			313,791				3,014		3.85				—				—		—
Long-term debt			52,420				801		6.13				237,992				2,615		4.41
Total borrowed funds			533,929				5,368		4.03				245,404				2,698		4.41
Total interest-bearing liabilities			17,881,758				103,471		2.32				17,720,860				121,834		2.76
Noninterest-bearing liabilities:
Noninterest-bearing deposits			6,422,393										6,351,540
Other liabilities			415,721										346,643
Total liabilities			24,719,872										24,419,043
Shareholders' equity			3,691,720										3,562,804
Total liabilities and shareholders' equity		$	28,411,592									$	27,981,847
Net interest revenue (FTE)						$	242,121									$	226,514
Net interest-rate spread (FTE)									2.93	%									2.62	%
Net interest margin (FTE)(4)									3.68	%									3.50	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $1.22 million and $983,000, respectively, for the three months ended June 30, 2026 and 2025. The tax rate used to calculate the adjustment was 25%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.
⁽²⁾ Included in the average balance of loans outstanding are loans on which the accrual of interest has been discontinued.
⁽³⁾ Unrealized gains and losses on AFS securities, including those related to the transfer from AFS to HTM, have been reclassified to other assets. Pretax unrealized losses of $191 million in 2026 and $240 million in 2025 are included in other assets for purposes of this presentation.
⁽⁴⁾ Net interest margin is taxable equivalent net interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC. Average Consolidated Balance Sheets and Net Interest Analysis For the Six Months Ended June 30,
			2026										2025
(dollars in thousands, fully taxable equivalent (FTE))		Average Balance				Interest			Average Rate			Average Balance				Interest			Average Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (FTE)(1)(2)		$	19,561,444			$	582,907		6.01	%		$	18,440,110			$	561,953		6.15	%
Taxable securities(3)			5,954,901				89,130		2.99				6,614,294				111,363		3.37
Tax-exempt securities (FTE)(1)(3)			343,445				4,428		2.58				355,430				4,481		2.52
Other interest-earning assets			333,809				4,196		2.53				426,415				6,899		3.26
Total interest-earning assets (FTE)			26,193,599				680,661		5.23				25,836,249				684,696		5.34
Non-interest-earning assets:
Allowance for loan losses			(213,914	)									(215,141	)
Cash and due from banks			174,659										211,681
Premises and equipment			394,925										397,347
Other assets(3)			1,693,548										1,623,689
Total assets		$	28,242,817									$	27,853,825
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand		$	5,803,781				56,247		1.95			$	6,092,519				74,346		2.46
Money market			6,806,264				81,849		2.43				6,614,819				99,144		3.02
Savings			1,092,161				963		0.18				1,146,075				2,081		0.37
Time			3,656,390				56,138		3.10				3,489,687				61,427		3.55
Brokered time deposits			55,440				935		3.40				50,468				1,072		4.28
Total interest-bearing deposits			17,414,036				196,132		2.27				17,393,568				238,070		2.76
Federal funds purchased and other borrowings			137,858				2,551		3.73				43,883				1,190		5.47
Federal Home Loan Bank advances			208,619				3,983		3.85				19,343				433		4.51
Long-term debt			86,247				2,002		4.68				246,061				5,477		4.49
Total borrowed funds			432,724				8,536		3.98				309,287				7,100		4.63
Total interest-bearing liabilities			17,846,760				204,668		2.31				17,702,855				245,170		2.79
Noninterest-bearing liabilities:
Noninterest-bearing deposits			6,344,315										6,273,313
Other liabilities			376,882										358,227
Total liabilities			24,567,957										24,334,395
Shareholders' equity			3,674,860										3,519,430
Total liabilities and shareholders' equity		$	28,242,817									$	27,853,825
Net interest revenue (FTE)						$	475,993									$	439,526
Net interest-rate spread (FTE)									2.92	%									2.55	%
Net interest margin (FTE)(4)									3.66	%									3.43	%

⁽¹⁾ Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $2.33 million and $1.97 million, respectively, for the six months ended June 30, 2026 and 2025. The tax rate used to calculate the adjustment was 25%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.
⁽²⁾ Included in the average balance of loans outstanding are loans on which the accrual of interest has been discontinued and loans that are held for sale.
⁽³⁾ Unrealized gains and losses on AFS securities, including those related to the transfer from AFS to HTM, have been reclassified to other assets. Pretax unrealized losses of $183 million in 2026 and $254 million in 2025 are included in other assets for purposes of this presentation.
⁽⁴⁾ Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
Selected Financial Information
(in thousands, except per share data)
			2026								2025											For the Six Months Ended June 30,
		Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter					2026				2025
Noninterest income reconciliation
Noninterest income (GAAP)		$	38,380			$	43,746			$	40,462			$	43,219			$	34,708			$	82,126			$	70,364
Gain on terminated cash flow hedge			—				(5,184	)			—				—				—				(5,184	)			—
Noninterest income - operating		$	38,380			$	38,562			$	40,462			$	43,219			$	34,708			$	76,942			$	70,364
Provision for credit losses reconciliation
Provision for credit losses (GAAP)		$	(29,803	)		$	10,853			$	13,662			$	7,907			$	11,818			$	(18,950	)		$	27,237
Release of ACL on equipment finance loans			38,477				—				—				—				—				38,477				—
Provision for credit losses - operating		$	8,674			$	10,853			$	13,662			$	7,907			$	11,818			$	19,527			$	27,237
Noninterest expense reconciliation
Noninterest expense (GAAP)		$	159,915			$	157,302			$	152,048			$	150,868			$	147,919			$	317,217			$	289,018
Payroll transition bonus			—				(6,704	)			—				—				—				(6,704	)			—
FDIC special assessment accrual reversal			—				1,885				—				—				—				1,885				—
Merger-related and other charges			(895	)			(873	)			(606	)			(3,468	)			(4,833	)			(1,768	)			(6,130	)
Noninterest expense - operating		$	159,020			$	151,610			$	151,442			$	147,400			$	143,086			$	310,630			$	282,888
Net income to operating income reconciliation
Net income (GAAP)		$	115,638			$	84,289			$	86,455			$	91,494			$	78,733			$	199,927			$	150,146
Gain on terminated cash flow hedge			—				(5,184	)			—				—				—				(5,184	)			—
Release of ACL on equipment finance loans			(38,477	)			—				—				—				—				(38,477	)			—
Payroll transition bonus			—				6,704				—				—				—				6,704				—
FDIC special assessment accrual reversal			—				(1,885	)			—				—				—				(1,885	)			—
Merger-related and other charges			895				873				606				3,468				4,833				1,768				6,130
Income tax benefit of non-operating items			8,347				(113	)			(133	)			(751	)			(1,047	)			8,234				(1,328	)
Net income - operating		$	86,403			$	84,684			$	86,928			$	94,211			$	82,519			$	171,087			$	154,948
Net income to pre-tax pre-provision income reconciliation
Net income (GAAP)		$	115,638			$	84,289			$	86,455			$	91,494			$	78,733			$	199,927			$	150,146
Income tax expense			33,530				24,066				26,223				26,579				21,769				57,596				41,515
Provision for credit losses			(29,803	)			10,853				13,662				7,907				11,818				(18,950	)			27,237
Pre-tax pre-provision income		$	119,365			$	119,208			$	126,340			$	125,980			$	112,320			$	238,573			$	218,898
Diluted income per common share reconciliation
Diluted income per common share (GAAP)		$	0.95			$	0.69			$	0.70			$	0.70			$	0.63			$	1.65			$	1.21
Gain on terminated cash flow hedge			—				(0.03	)			—				—				—				(0.03	)			—
Release of ACL on equipment finance loans			(0.25	)			—				—				—				—				(0.25	)			—
Payroll transition bonus			—				0.04				—				—				—				0.04				—
FDIC special assessment accrual reversal			—				(0.01	)			—				—				—				(0.01	)			—
Merger-related and other charges			0.01				0.01				0.01				0.02				0.03				0.01				0.04
Deemed dividend on preferred stock redemption			—				—				—				0.03				—				—				—
Diluted income per common share - operating		$	0.71			$	0.70			$	0.71			$	0.75			$	0.66			$	1.41			$	1.25
Book value per common share reconciliation
Book value per common share (GAAP)		$	31.27			$	30.54			$	30.17			$	29.44			$	28.89			$	31.27			$	28.89
Effect of goodwill and other intangibles			(7.96	)			(7.98	)			(7.93	)			(7.85	)			(7.89	)			(7.96	)			(7.89	)
Tangible book value per common share		$	23.31			$	22.56			$	22.24			$	21.59			$	21.00			$	23.31			$	21.00
Return on tangible common equity reconciliation
Return on common equity (GAAP)			12.56	%			9.35	%			9.48	%			9.20	%			8.45	%			10.97	%			8.18	%
Gain on terminated cash flow hedge			—				(0.45	)			—				—				—				(0.22	)			—
Release of ACL on equipment finance loans			(3.25	)			—				—				—				—				(1.64	)			—
Payroll transition bonus			—				0.58				—				—				—				0.29				—
FDIC special assessment accrual reversal			—				(0.16	)			—				—				—				(0.08	)			—
Merger-related and other charges			0.08				0.07				0.05				0.29				0.42				0.07				0.27
Deemed dividend on preferred stock redemption			—				—				—				0.34				—				—				—
Return on common equity - operating			9.39				9.39				9.53				9.83				8.87				9.39				8.45
Effect of goodwill and other intangibles			3.59				3.66				3.78				3.73				3.47				3.63				3.33
Return on tangible common equity - operating			12.98	%			13.05	%			13.31	%			13.56	%			12.34	%			13.02	%			11.78	%
Return on assets reconciliation
Return on assets (GAAP)			1.63	%			1.22	%			1.21	%			1.29	%			1.11	%			1.43	%			1.06	%
Gain on terminated cash flow hedge			—				(0.06	)			—				—				—				(0.03	)			—
Release of ACL on equipment finance loans			(0.42	)			—				—				—				—				(0.21	)			—
Payroll transition bonus			—				0.07				—				—				—				0.03				—
FDIC special assessment accrual reversal			—				(0.02	)			—				—				—				(0.01	)			—
Merger-related and other charges			0.01				0.01				0.01				0.04				0.05				0.01				0.04
Return on assets - operating			1.22	%			1.22	%			1.22	%			1.33	%			1.16	%			1.22	%			1.10	%
Return on assets to return on assets- pre-tax pre-provision reconciliation
Return on assets (GAAP)			1.63	%			1.22	%			1.21	%			1.29	%			1.11	%			1.43	%			1.06	%
Income tax expense			0.47				0.35				0.37				0.38				0.31				0.41				0.30
Provision for credit losses			(0.42	)			0.16				0.19				0.11				0.17				(0.14	)			0.20
Gain on terminated cash flow hedge			—				(0.08	)			—				—				—				(0.04	)			—
Payroll transition bonus			—				0.10				—				—				—				0.05				—
FDIC special assessment accrual reversal			—				(0.03	)			—				—				—				(0.01	)			—
Merger-related and other charges			0.02				0.01				0.01				0.05				0.07				0.01				0.05
Return on assets - pre-tax pre-provision - operating			1.70	%			1.73	%			1.78	%			1.83	%			1.66	%			1.71	%			1.61	%
Efficiency ratio reconciliation
Efficiency ratio (GAAP)			57.01	%			56.66	%			54.40	%			54.30	%			56.69	%			56.84	%			56.71	%
Gain on terminated cash flow hedge			—				1.03				—				—				—				0.52				—
Payroll transition bonus			—				(2.41	)			—				—				—				(1.20	)			—
FDIC special assessment accrual reversal			—				0.68				—				—				—				0.34				—
Merger-related and other charges			(0.32	)			(0.31	)			(0.21	)			(1.25	)			(1.85	)			(0.32	)			(1.20	)
Efficiency ratio - operating			56.69	%			55.65	%			54.19	%			53.05	%			54.84	%			56.18	%			55.51	%
Tangible common equity to tangible assets reconciliation
Equity to total assets (GAAP)			12.89	%			12.97	%			12.99	%			12.78	%			12.86	%			12.89	%			12.86	%
Effect of goodwill and other intangibles			(2.95	)			(3.05	)			(3.07	)			(3.07	)			(3.10	)			(2.95	)			(3.10	)
Effect of preferred equity			—				—				—				—				(0.31	)			—				(0.31	)
Tangible common equity to tangible assets			9.94	%			9.92	%			9.92	%			9.71	%			9.45	%			9.94	%			9.45	%

About United Community Banks, Inc.
United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top-100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of June 30, 2026, United Community Banks, Inc. had $29.1 billion in assets and operated 200 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise and an equipment finance subsidiary, extending its reach to businesses across the country. United Community is the most awarded bank in the Southeast for Retail Banking Customer Satisfaction by J.D. Power, earning more awards than any other bank in the region, including recognition in 12 of the last 17 years. The company has also been named one of the “Best Banks to Work For” by American Banker for nine consecutive years. In commercial banking, United Community earned multiple 2026 Greenwich Best Bank awards for Small Business Banking. Forbes has consistently named United Community among the World’s Best and America’s Best Banks. Learn more at ucbi.com.

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

Caution About Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.

Factors that could cause or contribute to such differences include, but are not limited to (1) the risk that the financial benefits from the acquisition of Peach State Bancshares, Inc. ( “Peach State”) or the sale of the Navitas equipment finance business (“Navitas”) (each a “Transaction” and collectively, the “Transactions”) may not be realized or take longer than anticipated to be realized, (2) disruption from the Transactions of customer, supplier, employee or other business partner relationships, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction agreements, (4) the possibility that the costs, fees, expenses and charges related to the Transactions may be greater than anticipated, (5) reputational risk and the reaction of each of the companies’ customers, suppliers, employees or other business partners to the Transactions, (6) the failure of the closing conditions to the Transactions to be satisfied, or any unexpected delay in closing the Transactions, including due to failure to obtain applicable shareholder or regulatory approvals, (7) the risks relating to the integration of Peach State’s operations into the operations of United, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (8) the risk of potential litigation or regulatory action related to the Transactions, (9) the risks associated with United’s pursuit of future acquisitions, (10) the risk of expansion into new geographic or product markets, (11) the dilution caused by United’s issuance of additional shares of its common stock in the Peach State acquisition, and (12) general competitive, economic, political and market conditions. Further information regarding additional factors which could affect the forward-looking statements can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2025, and other documents subsequently filed by United with the U.S. Securities and Exchange Commission (“SEC”).

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

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

For more information:
Jefferson Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com

FAQ

How did United Community Banks (NYSE: UCB) perform in Q2 2026?

United Community Banks reported Q2 2026 GAAP diluted EPS of $0.95 and operating EPS of $0.71. According to United Community Banks, net income reached $115.6 million and total revenue was $279.3 million, up 7% year over year.

What drove United Community Banks’ earnings growth in Q2 2026 (UCB)?

Earnings growth was driven by higher spread income, 6.8% annualized loan growth, and margin expansion. According to United Community Banks, net interest margin rose to 3.68%, up 18 basis points year over year, marking the sixth consecutive quarter of margin improvement.

How did the Navitas equipment finance sale impact UCB’s Q2 2026 results?

Reclassifying Navitas loans to held-for-sale produced a $38.5 million allowance release and negative provision. According to United Community Banks, this boosted GAAP earnings, with the Navitas sale expected to close in the third quarter of 2026 under a previously announced agreement.

What was United Community Banks’ asset quality in Q2 2026 (UCB)?

United Community Banks reported net charge-offs of $7.9 million, or 0.16% of average loans annualized. According to United Community Banks, nonperforming assets were $103.4 million, while the allowance for credit losses covered 1.04% of total loans at quarter end.

What are United Community Banks’ key capital and return ratios for Q2 2026?

United Community Banks reported a preliminary CET1 ratio of 13.5% and operating return on common equity of 12.6%. According to United Community Banks, operating return on assets was 1.22%, and the quarterly dividend was $0.25 per share.

Did United Community Banks change its dividend in Q2 2026 (UCB)?

Yes. United Community Banks declared a quarterly common dividend of $0.25 per share in Q2 2026. According to United Community Banks, this represents a 4% increase compared with the dividend declared in the same quarter of 2025.

What were United Community Banks’ efficiency and expense trends in Q2 2026?

The GAAP efficiency ratio was 57.0%, or 56.7% on an operating basis, slightly higher year over year. According to United Community Banks, noninterest expense rose, including a $4.5 million settlement and legal fees related to a Navitas California lender’s license.