United Community Banks, Inc. Reports Third Quarter Earnings
United Community Banks (NYSE: UCB) reported third quarter 2025 results with net income of $91.5 million and diluted EPS $0.70 GAAP ($0.75 operating). Total revenue was $276.8 million, up 27% year-over-year, and pre-tax, pre-provision income was $126.0 million. Loans grew to $19.175 billion and net interest margin widened to 3.58%. Allowance for credit losses was 1.19% of loans; nonperforming assets were 0.35% of assets. Tangible common equity to tangible assets was 9.71%, CET1 ~13.4%, and the quarterly common dividend was raised to $0.25.
United Community Banks (NYSE: UCB) ha riportato i risultati del terzo trimestre 2025 con un utile netto di 91,5 milioni di dollari e un EPS diluito GAAP di 0,70 dollari (0,75 operativo). I ricavi totali sono stati di 276,8 milioni di dollari, in crescita del 27% su base annua, e l’utile ante imposte e previsioni era di 126,0 milioni di dollari. I prestiti sono cresciuti a 19,175 miliardi di dollari e il margine di interesse netto si è ampliato a 3,58%. La copertura per perdite su crediti è stata 1,19% dei prestiti; le attività non performanti ammontavano a 0,35% delle attività. L’equità contabile tangibile rispetto agli attivi tangibili era 9,71%, CET1 circa 13,4%, e il dividendo trimestrale in azioni comuni è stato aumentato a 0,25 dollari.
United Community Banks (NYSE: UCB) reportó los resultados del tercer trimestre de 2025 con una utilidad neta de 91,5 millones de dólares y un BPA diluido GAAP de 0,70 dólares (0,75 operativo). Los ingresos totales fueron de 276,8 millones de dólares, un aumento de 27% interanual, y el ingreso antes de impuestos y provisiones fue de 126,0 millones. Los préstamos crecieron a 19,175 mil millones de dólares y el margen de interés neto se ensanchó a 3,58%. La reserva para pérdidas crediticias fue del 1,19% de los préstamos; los activos no productivos representaron el 0,35% de los activos. La relación entre el capital contable tangible y los activos tangibles fue de 9,71%, CET1 alrededor de 13,4%, y el dividendo trimestral por acción se incrementó a 0,25 dólares.
United Community Banks (NYSE: UCB)가 2025년 3분기 실적을 발표했습니다. 순이익 9,150만 달러와 GAAP 희석 주당순이익 0.70달러(운영 기준 0.75달러)입니다. 총수익은 2억 7,680만 달러로 전년 동기 대비 27% 증가했고, 세전, 대손충당전 이익은 1억 2,600만 달러였습니다. 대출은 191억 7,500만 달러까지 증가했고 순이자마진은 3.58%로 확대되었습니다. 신용손실충당금은 대출의 1.19%였고 부실자산은 자산의 0.35%였습니다. 유형의 보통주 자본이 유형자산 대비 9.71%였고 CET1은 약 13.4%, 그리고 분기별 보통주 배당은 0.25달러로 상향되었습니다.
United Community Banks (NYSE: UCB) a annoncé les résultats du troisième trimestre 2025 avec un revenu net de 91,5 millions de dollars et un BPA dilué GAAP de 0,70 dollar (0,75 opérationnel). Le chiffre d’affaires total s’est élevé à 276,8 millions de dollars, en hausse de 27% sur un an, et le revenu avant impôt et provisions était de 126,0 millions. Les prêts ont augmenté pour atteindre 19,175 milliards de dollars et la marge net d’intérêts s’est élargie à 3,58%. La provision pour pertes sur créances était de 1,19% des prêts; les actifs improductifs représentaient 0,35% des actifs. L’équité tangible par rapport aux actifs tangibles était de 9,71%, le CET1 d’environ 13,4%, et le dividende trimestriel par action a été porté à 0,25 dollar.
United Community Banks (NYSE: UCB) veröffentlichte die Ergebnisse des dritten Quartals 2025 mit einem Nettogewinn von 91,5 Mio. USD und verwässertem GAAP eps von 0,70 USD (0,75 operativ). Der Gesamtumsatz betrug 276,8 Mio. USD, +27% im Vergleich zum Vorjahr, und das Vor-Steuer-, Vor-Rückstellungen-Einkommen belief sich auf 126,0 Mio. USD. Die Kredite wuchsen auf 19,175 Mrd. USD und die Net Interest Margin weitete sich auf 3,58% aus. Die Rückstellungen für Kreditverluste betrugen 1,19% der Kredite; notleidende Vermögenswerte machten 0,35% der Vermögenswerte aus. Die konkrete harte Eigenkapitalquote gegenüber Vermögenswerten betrug 9,71%, CET1 ca. 13,4%, und die vierteljährliche Dividende pro Stammaktie wurde auf 0,25 USD erhöht.
United Community Banks (NYSE: UCB) أعلنت عن نتائج الربع الثالث من عام 2025 مع صافي دخل قدره 91.5 مليون دولار و ربحية السهم المخففة بما في GAAP قدرها 0.70 دولار (0.75 تشغيلي). كان إجمالي الإيرادات 276.8 مليون دولار، بزيادة 27% على أساس سنوي، وكان الدخل قبل الضرائب والاحتياطات 126.0 مليون دولار. نمت القروض إلى 19.175 مليار دولار وتوسع هامش الفائدة الصافي إلى 3.58%. كانت مخصصات خسائر الائتمان 1.19% من القروض؛ الأصول غير المنتجة كانت 0.35% من الأصول. نسبة رأس المال الملموس مقابل الأصول الملموسة كانت 9.71%، و CET1 نحو 13.4%، وارتفع توزيـع الأرباح ربع السنوي للسهم العادي إلى 0.25 دولار.
United Community Banks (NYSE: UCB) 公布了2025年第三季度业绩，净利润为9,150万美元，GAAP 稀释每股收益为0.70美元（经营性0.75美元）。总收入为2.768亿美元，同比增长27%，税前、拨备前利润为1.260亿美元。贷款增长至191.75亿美元，净息差扩大至3.58%。信用损失准备金为贷款的1.19%；不良资产占比为0.35%。实质普通股权益对实质资产的比率为9.71%， CET1 约为13.4%，季度普通股股息提高至0.25美元。
- Net income of $91.5 million
- Total revenue $276.8 million, +27% YoY
- Diluted EPS $0.70 GAAP; $0.75 operating (+32% YoY operating)
- Loans rose to $19.175 billion (+7% YoY)
- Net interest margin 3.58%, +8 bps linked quarter
- Tangible common equity ratio 9.71% and CET1 ~13.4%
- Noninterest expense increased by $2.9 million linked quarter
- Allowance for credit losses to loans down slightly to 1.19%
- Nonperforming assets rose to 0.35% of assets from 0.30%
Insights
Strong quarter: higher revenue, loan growth, margin expansion, and improved returns signal materially better operating performance.
United Community Banks reported
The business mechanism behind the improvement is clearer net interest revenue from a lower cost of funds and an improving asset mix, supplemented by higher noninterest income and a lower provision for credit losses. Asset-quality metrics remain stable: net charge-offs were minimal at
Key dependencies and risks include sustaining loan production, continued margin improvement, and controlling expense growth (noninterest expense rose modestly due to incentives). Capital and liquidity look solid with preliminary CET1 at
Strong Loan Growth and Margin Expansion Drive Higher Revenue and EPS
GREENVILLE, S.C., Oct. 22, 2025 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE: UCB) (United) today announced net income for the third quarter of 2025 of
On an operating basis, United’s diluted earnings per share of
United’s return on assets was
Chairman and CEO Lynn Harton stated, “We are proud of our third quarter financial results. Our teams drove solid loan and deposit growth as well as healthy margin expansion. These actions resulted in meaningful improvement in our return on assets and return on tangible common equity. Tangible book value per share grew by
Harton continued, “I want to thank our outstanding team members across the bank for continuing to deliver not only great financial results, but also exceptional customer service and an atmosphere of trust and caring that makes United a great place to work.”
Net charge-offs were
Third Quarter 2025 Financial Highlights:
- EPS of
$0.70 was up$0.32 on a GAAP basis compared to third quarter 2024, and EPS of$0.75 was up$0.18 , or32% , on an operating basis; EPS up$0.07 compared to the second quarter on a GAAP basis and up$0.09 , or14% , on an operating basis - Net income of
$91.5 million and pre-tax, pre-provision income of$126.0 million , up$12.8 million and$13.7 million , respectively, from the second quarter - Total revenue of
$276.8 million improved$16.6 million , or6% , from the second quarter - Net interest margin of
3.58% increased by eight basis points from the second quarter, reflecting a lower cost of funds and improving asset mix - Noninterest income was up
$8.5 million on a linked quarter basis mostly due to gains on other investments, death benefit claims on bank owned life insurance, and a favorable mark on our mortgage servicing rights asset - Provision for credit losses was
$7.9 million , down$3.9 million from the second quarter; allowance for credit losses coverage down slightly to1.19% of total loans; net charge-offs were$7.7 million , or0.16% annualized of average loans, an improvement of two basis points compared to the second quarter - Noninterest expenses were up
$2.9 million compared to the second quarter on a GAAP basis and up$4.3 million on an operating basis, primarily driven by performance-based incentives - Efficiency ratio of
54.3% on a GAAP basis, or53.1% on an operating basis, improved both linked quarter and year over year - Strong loan production led to loan growth of
$254 million , up5.4% annualized, from the second quarter - Mortgage closings of
$283 million compared to$239 million in third quarter 2024; mortgage rate locks of$388 million compared to$306 million in third quarter 2024 - Customer deposits were up
$58 million from the second quarter, public funds deposits seasonally down$79 million from the second quarter; excluding public funds, customer deposits were up$137 million , including$73 million of noninterest-bearing demand deposits - Return on assets of
1.29% , or1.33% on an operating basis - Return on common equity and return on tangible common equity on an operating basis improved from the second quarter to
9.2% and13.6% , respectively - Redeemed preferred stock with a book value of
$88.3 million , representing all outstanding preferred shares - Maintained strong capital ratios with preliminary Common Equity Tier 1 of
13.4% - Increased quarterly common dividend to
$0.25 per share declared during the quarter, up4% year-over-year
Conference Call
United will hold a conference call on Wednesday, October 22 at 9:00 a.m. ET to discuss the contents of this press release and to share business highlights for the quarter. Participants can pre-register for the conference call by navigating to https://dpregister.com/sreg/10203186/fff7baf488. Those without internet access or unable to pre-register may dial in by calling 1-844-676-1337. Participants are encouraged to dial in 15 minutes prior to the call start time. The conference call also will be webcast and can be accessed by selecting “Events and Presentations” under “News and Events” within the Investor Relations section of the company's website, ucbi.com.
| UNITED COMMUNITY BANKS, INC. | |||||||||||||||||||||||||||||||||
| Selected Financial Information | |||||||||||||||||||||||||||||||||
| (in thousands, except per share data) | |||||||||||||||||||||||||||||||||
| 2025 | 2024 | Third Quarter 2025 - 2024 Change | For the Nine Months Ended September 30, | YTD 2025 - 2024 Change | |||||||||||||||||||||||||||||
| Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | 2025 | 2024 | |||||||||||||||||||||||||||
| INCOME SUMMARY | |||||||||||||||||||||||||||||||||
| Interest revenue | $ | 353,850 | $ | 347,365 | $ | 335,357 | $ | 344,962 | $ | 349,086 | $ | 1,036,572 | $ | 1,032,779 | |||||||||||||||||||
| Interest expense | 120,221 | 121,834 | 123,336 | 134,629 | 139,900 | 365,391 | 415,744 | ||||||||||||||||||||||||||
| Net interest revenue | 233,629 | 225,531 | 212,021 | 210,333 | 209,186 | 12 | % | 671,181 | 617,035 | 9 | % | ||||||||||||||||||||||
| Noninterest income | 43,219 | 34,708 | 35,656 | 40,522 | 8,091 | n/m | 113,583 | 84,234 | 35 | ||||||||||||||||||||||||
| Total revenue | 276,848 | 260,239 | 247,677 | 250,855 | 217,277 | 27 | 784,764 | 701,269 | 12 | ||||||||||||||||||||||||
| Provision for credit losses | 7,907 | 11,818 | 15,419 | 11,389 | 14,428 | 35,144 | 39,562 | ||||||||||||||||||||||||||
| Noninterest expense | 150,868 | 147,919 | 141,099 | 143,056 | 143,065 | 5 | 439,886 | 435,111 | 1 | ||||||||||||||||||||||||
| Income before income tax expense | 118,073 | 100,502 | 91,159 | 96,410 | 59,784 | 97 | 309,734 | 226,596 | 37 | ||||||||||||||||||||||||
| Income tax expense | 26,579 | 21,769 | 19,746 | 20,606 | 12,437 | 114 | 68,094 | 50,003 | 36 | ||||||||||||||||||||||||
| Net income | 91,494 | 78,733 | 71,413 | 75,804 | 47,347 | 93 | 241,640 | 176,593 | 37 | ||||||||||||||||||||||||
| Non-operating items | 3,468 | 4,833 | 1,297 | 2,203 | 29,385 | 9,598 | 38,065 | ||||||||||||||||||||||||||
| Income tax benefit of non-operating items | (751 | ) | (1,047 | ) | (281 | ) | (471 | ) | (6,276 | ) | (2,079 | ) | (8,231 | ) | |||||||||||||||||||
| Net income - operating (1) | $ | 94,211 | $ | 82,519 | $ | 72,429 | $ | 77,536 | $ | 70,456 | 34 | $ | 249,159 | $ | 206,427 | 21 | |||||||||||||||||
| Pre-tax pre-provision income (5) | $ | 125,980 | $ | 112,320 | $ | 106,578 | $ | 107,799 | $ | 74,212 | 70 | $ | 344,878 | $ | 266,158 | 30 | |||||||||||||||||
| PERFORMANCE MEASURES | |||||||||||||||||||||||||||||||||
| Per common share: | |||||||||||||||||||||||||||||||||
| Diluted net income - GAAP | $ | 0.70 | $ | 0.63 | $ | 0.58 | $ | 0.61 | $ | 0.38 | 84 | $ | 1.91 | $ | 1.43 | 34 | |||||||||||||||||
| Diluted net income - operating (1) | 0.75 | 0.66 | 0.59 | 0.63 | 0.57 | 32 | 2.00 | 1.67 | 20 | ||||||||||||||||||||||||
| Cash dividends declared | 0.25 | 0.24 | 0.24 | 0.24 | 0.24 | 4 | 0.73 | 0.70 | 4 | ||||||||||||||||||||||||
| Book value | 29.44 | 28.89 | 28.42 | 27.87 | 27.68 | 6 | 29.44 | 27.68 | 6 | ||||||||||||||||||||||||
| Tangible book value (3) | 21.59 | 21.00 | 20.58 | 20.00 | 19.66 | 10 | 21.59 | 19.66 | 10 | ||||||||||||||||||||||||
| Key performance ratios: | |||||||||||||||||||||||||||||||||
| Return on common equity - GAAP (2)(4) | 9.20 | % | 8.45 | % | 7.89 | % | 8.40 | % | 5.20 | % | 8.53 | % | 6.61 | % | |||||||||||||||||||
| Return on common equity - operating (1)(2)(4) | 9.83 | 8.87 | 8.01 | 8.60 | 7.82 | 8.92 | 7.76 | ||||||||||||||||||||||||||
| Return on tangible common equity - operating (1)(2)(3)(4) | 13.56 | 12.34 | 11.21 | 12.12 | 11.17 | 12.57 | 11.18 | ||||||||||||||||||||||||||
| Return on assets - GAAP (4) | 1.29 | 1.11 | 1.02 | 1.06 | 0.67 | 1.16 | 0.85 | ||||||||||||||||||||||||||
| Return on assets - operating (1)(4) | 1.33 | 1.16 | 1.04 | 1.08 | 1.01 | 1.19 | 0.99 | ||||||||||||||||||||||||||
| Return on assets - pre-tax pre-provision, excluding non-operating items (1)(4)(5) | 1.83 | 1.66 | 1.55 | 1.55 | 1.50 | 1.70 | 1.48 | ||||||||||||||||||||||||||
| Net interest margin (fully taxable equivalent) (4) | 3.58 | 3.50 | 3.36 | 3.26 | 3.33 | 3.48 | 3.30 | ||||||||||||||||||||||||||
| Efficiency ratio - GAAP | 54.30 | 56.69 | 56.74 | 56.05 | 65.51 | 55.86 | 61.76 | ||||||||||||||||||||||||||
| Efficiency ratio - operating (1) | 53.05 | 54.84 | 56.22 | 55.18 | 57.37 | 54.64 | 57.84 | ||||||||||||||||||||||||||
| Equity to total assets | 12.78 | 12.86 | 12.56 | 12.38 | 12.45 | 12.78 | 12.45 | ||||||||||||||||||||||||||
| Tangible common equity to tangible assets (3) | 9.71 | 9.45 | 9.18 | 8.97 | 8.93 | 9.71 | 8.93 | ||||||||||||||||||||||||||
| ASSET QUALITY | |||||||||||||||||||||||||||||||||
| Nonperforming assets ("NPAs") | $ | 97,916 | $ | 83,959 | $ | 93,290 | $ | 115,635 | $ | 114,960 | (15 | ) | $ | 97,916 | $ | 114,960 | (15 | ) | |||||||||||||||
| Allowance for credit losses - loans | 215,791 | 216,500 | 211,974 | 206,998 | 205,290 | 5 | 215,791 | 205,290 | 5 | ||||||||||||||||||||||||
| Allowance for credit losses - total | 228,276 | 228,045 | 223,201 | 217,389 | 215,517 | 6 | 228,276 | 215,517 | 6 | ||||||||||||||||||||||||
| Net charge-offs | 7,676 | 8,225 | 9,607 | 9,517 | 23,651 | n/m | 25,508 | 48,173 | n/m | ||||||||||||||||||||||||
| Allowance for credit losses - loans to loans | 1.13 | % | 1.14 | % | 1.15 | % | 1.14 | % | 1.14 | % | 1.13 | % | 1.14 | % | |||||||||||||||||||
| Allowance for credit losses - total to loans | 1.19 | 1.21 | 1.21 | 1.20 | 1.20 | 1.19 | 1.20 | ||||||||||||||||||||||||||
| Net charge-offs to average loans (4) | 0.16 | 0.18 | 0.21 | 0.21 | 0.52 | 0.18 | 0.35 | ||||||||||||||||||||||||||
| NPAs to total assets | 0.35 | 0.30 | 0.33 | 0.42 | 0.42 | 0.35 | 0.42 | ||||||||||||||||||||||||||
| AT PERIOD END ($ in millions) | |||||||||||||||||||||||||||||||||
| Loans | $ | 19,175 | $ | 18,921 | $ | 18,425 | $ | 18,176 | $ | 17,964 | 7 | $ | 19,175 | $ | 17,964 | 7 | |||||||||||||||||
| Investment securities | 6,163 | 6,382 | 6,661 | 6,804 | 6,425 | (4 | ) | 6,163 | 6,425 | (4 | ) | ||||||||||||||||||||||
| Total assets | 28,143 | 28,086 | 27,874 | 27,720 | 27,373 | 3 | 28,143 | 27,373 | 3 | ||||||||||||||||||||||||
| Deposits | 24,021 | 23,963 | 23,762 | 23,461 | 23,253 | 3 | 24,021 | 23,253 | 3 | ||||||||||||||||||||||||
| Shareholders’ equity | 3,597 | 3,613 | 3,501 | 3,432 | 3,407 | 6 | 3,597 | 3,407 | 6 | ||||||||||||||||||||||||
| Common shares outstanding (thousands) | 121,553 | 121,431 | 119,514 | 119,364 | 119,283 | 2 | 121,553 | 119,283 | 2 | ||||||||||||||||||||||||
(1) Excludes non-operating items as detailed on Non-GAAP Performance Measures Reconciliation on next page. (2) Net income less preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). (3) Excludes effect of acquisition related intangibles and associated amortization. (4) Annualized. (5) Excludes income tax expense and provision for credit losses.
| UNITED COMMUNITY BANKS, INC. | ||||||||||||||||||||||||||||
| Non-GAAP Performance Measures Reconciliation | ||||||||||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||||||
| 2025 | 2024 | For the Nine Months Ended September 30, | ||||||||||||||||||||||||||
| Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | 2025 | 2024 | ||||||||||||||||||||||
| Noninterest income reconciliation | ||||||||||||||||||||||||||||
| Noninterest income (GAAP) | $ | 43,219 | $ | 34,708 | $ | 35,656 | $ | 40,522 | $ | 8,091 | $ | 113,583 | $ | 84,234 | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 27,209 | — | 27,209 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (2,400 | ) | ||||||||||||||||||||
| Noninterest income - operating | $ | 43,219 | $ | 34,708 | $ | 35,656 | $ | 40,522 | $ | 35,300 | $ | 113,583 | $ | 109,043 | ||||||||||||||
| Noninterest expense reconciliation | ||||||||||||||||||||||||||||
| Noninterest expense (GAAP) | $ | 150,868 | $ | 147,919 | $ | 141,099 | $ | 143,056 | $ | 143,065 | $ | 439,886 | $ | 435,111 | ||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | (5,100 | ) | ||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | (1,736 | ) | ||||||||||||||||||||
| Merger-related and other charges | (3,468 | ) | (4,833 | ) | (1,297 | ) | (2,203 | ) | (2,176 | ) | (9,598 | ) | (6,420 | ) | ||||||||||||||
| Noninterest expense - operating | $ | 147,400 | $ | 143,086 | $ | 139,802 | $ | 140,853 | $ | 140,889 | $ | 430,288 | $ | 421,855 | ||||||||||||||
| Net income to operating income reconciliation | ||||||||||||||||||||||||||||
| Net income (GAAP) | $ | 91,494 | $ | 78,733 | $ | 71,413 | $ | 75,804 | $ | 47,347 | $ | 241,640 | $ | 176,593 | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 27,209 | — | 27,209 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (2,400 | ) | ||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | 5,100 | |||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | 1,736 | |||||||||||||||||||||
| Merger-related and other charges | 3,468 | 4,833 | 1,297 | 2,203 | 2,176 | 9,598 | 6,420 | |||||||||||||||||||||
| Income tax benefit of non-operating items | (751 | ) | (1,047 | ) | (281 | ) | (471 | ) | (6,276 | ) | (2,079 | ) | (8,231 | ) | ||||||||||||||
| Net income - operating | $ | 94,211 | $ | 82,519 | $ | 72,429 | $ | 77,536 | $ | 70,456 | $ | 249,159 | $ | 206,427 | ||||||||||||||
| Net income to pre-tax pre-provision income reconciliation | ||||||||||||||||||||||||||||
| Net income (GAAP) | $ | 91,494 | $ | 78,733 | $ | 71,413 | $ | 75,804 | $ | 47,347 | $ | 241,640 | $ | 176,593 | ||||||||||||||
| Income tax expense | 26,579 | 21,769 | 19,746 | 20,606 | 12,437 | 68,094 | 50,003 | |||||||||||||||||||||
| Provision for credit losses | 7,907 | 11,818 | 15,419 | 11,389 | 14,428 | 35,144 | 39,562 | |||||||||||||||||||||
| Pre-tax pre-provision income | $ | 125,980 | $ | 112,320 | $ | 106,578 | $ | 107,799 | $ | 74,212 | $ | 344,878 | $ | 266,158 | ||||||||||||||
| Diluted income per common share reconciliation | ||||||||||||||||||||||||||||
| Diluted income per common share (GAAP) | $ | 0.70 | $ | 0.63 | $ | 0.58 | $ | 0.61 | $ | 0.38 | $ | 1.91 | $ | 1.43 | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 0.18 | — | 0.18 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (0.02 | ) | ||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | 0.03 | |||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | 0.01 | |||||||||||||||||||||
| Merger-related and other charges | 0.02 | 0.03 | 0.01 | 0.02 | 0.01 | 0.06 | 0.04 | |||||||||||||||||||||
| Deemed dividend on preferred stock redemption | 0.03 | — | — | — | — | 0.03 | — | |||||||||||||||||||||
| Diluted income per common share - operating | $ | 0.75 | $ | 0.66 | $ | 0.59 | $ | 0.63 | $ | 0.57 | $ | 2.00 | $ | 1.67 | ||||||||||||||
| Book value per common share reconciliation | ||||||||||||||||||||||||||||
| Book value per common share (GAAP) | $ | 29.44 | $ | 28.89 | $ | 28.42 | $ | 27.87 | $ | 27.68 | $ | 29.44 | $ | 27.68 | ||||||||||||||
| Effect of goodwill and other intangibles | (7.85 | ) | (7.89 | ) | (7.84 | ) | (7.87 | ) | (8.02 | ) | (7.85 | ) | (8.02 | ) | ||||||||||||||
| Tangible book value per common share | $ | 21.59 | $ | 21.00 | $ | 20.58 | $ | 20.00 | $ | 19.66 | $ | 21.59 | $ | 19.66 | ||||||||||||||
| Return on tangible common equity reconciliation | ||||||||||||||||||||||||||||
| Return on common equity (GAAP) | 9.20 | % | 8.45 | % | 7.89 | % | 8.40 | % | 5.20 | % | 8.53 | % | 6.61 | % | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 2.43 | — | 0.82 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (0.07 | ) | ||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | 0.16 | |||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | 0.05 | |||||||||||||||||||||
| Merger-related and other charges | 0.29 | 0.42 | 0.12 | 0.20 | 0.19 | 0.27 | 0.19 | |||||||||||||||||||||
| Deemed dividend on preferred stock redemption | 0.34 | — | — | — | — | 0.12 | — | |||||||||||||||||||||
| Return on common equity - operating | 9.83 | 8.87 | 8.01 | 8.60 | 7.82 | 8.92 | 7.76 | |||||||||||||||||||||
| Effect of goodwill and other intangibles | 3.73 | 3.47 | 3.20 | 3.52 | 3.35 | 3.65 | 3.42 | |||||||||||||||||||||
| Return on tangible common equity - operating | 13.56 | % | 12.34 | % | 11.21 | % | 12.12 | % | 11.17 | % | 12.57 | % | 11.18 | % | ||||||||||||||
| Return on assets reconciliation | ||||||||||||||||||||||||||||
| Return on assets (GAAP) | 1.29 | % | 1.11 | % | 1.02 | % | 1.06 | % | 0.67 | % | 1.16 | % | 0.85 | % | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 0.31 | — | 0.10 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (0.01 | ) | ||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | 0.02 | |||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | 0.01 | |||||||||||||||||||||
| Merger-related and other charges | 0.04 | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.02 | |||||||||||||||||||||
| Return on assets - operating | 1.33 | % | 1.16 | % | 1.04 | % | 1.08 | % | 1.01 | % | 1.19 | % | 0.99 | % | ||||||||||||||
| Return on assets to return on assets- pre-tax pre-provision reconciliation | ||||||||||||||||||||||||||||
| Return on assets (GAAP) | 1.29 | % | 1.11 | % | 1.02 | % | 1.06 | % | 0.67 | % | 1.16 | % | 0.85 | % | ||||||||||||||
| Income tax expense | 0.38 | 0.31 | 0.29 | 0.30 | 0.19 | 0.33 | 0.25 | |||||||||||||||||||||
| Provision for credit losses | 0.11 | 0.17 | 0.23 | 0.16 | 0.21 | 0.17 | 0.19 | |||||||||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | 0.40 | — | 0.13 | |||||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | (0.01 | ) | ||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | 0.03 | |||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | 0.01 | |||||||||||||||||||||
| Merger-related and other charges | 0.05 | 0.07 | 0.01 | 0.03 | 0.03 | 0.04 | 0.03 | |||||||||||||||||||||
| Return on assets - pre-tax pre-provision - operating | 1.83 | % | 1.66 | % | 1.55 | % | 1.55 | % | 1.50 | % | 1.70 | % | 1.48 | % | ||||||||||||||
| Efficiency ratio reconciliation | ||||||||||||||||||||||||||||
| Efficiency ratio (GAAP) | 54.30 | % | 56.69 | % | 56.74 | % | 56.05 | % | 65.51 | % | 55.86 | % | 61.76 | % | ||||||||||||||
| Loss on sale of manufactured housing loans | — | — | — | — | (7.15 | ) | — | (2.25 | ) | |||||||||||||||||||
| Gain on lease termination | — | — | — | — | — | — | 0.21 | |||||||||||||||||||||
| Loss on sale of FinTrust, including goodwill impairment | — | — | — | — | — | — | (0.73 | ) | ||||||||||||||||||||
| FDIC special assessment | — | — | — | — | — | — | (0.24 | ) | ||||||||||||||||||||
| Merger-related and other charges | (1.25 | ) | (1.85 | ) | (0.52 | ) | (0.87 | ) | (0.99 | ) | (1.22 | ) | (0.91 | ) | ||||||||||||||
| Efficiency ratio - operating | 53.05 | % | 54.84 | % | 56.22 | % | 55.18 | % | 57.37 | % | 54.64 | % | 57.84 | % | ||||||||||||||
| Tangible common equity to tangible assets reconciliation | ||||||||||||||||||||||||||||
| Equity to total assets (GAAP) | 12.78 | % | 12.86 | % | 12.56 | % | 12.38 | % | 12.45 | % | 12.78 | % | 12.45 | % | ||||||||||||||
| Effect of goodwill and other intangibles | (3.07 | ) | (3.10 | ) | (3.06 | ) | (3.09 | ) | (3.20 | ) | (3.07 | ) | (3.20 | ) | ||||||||||||||
| Effect of preferred equity | — | (0.31 | ) | (0.32 | ) | (0.32 | ) | (0.32 | ) | — | (0.32 | ) | ||||||||||||||||
| Tangible common equity to tangible assets | 9.71 | % | 9.45 | % | 9.18 | % | 8.97 | % | 8.93 | % | 9.71 | % | 8.93 | % | ||||||||||||||
| UNITED COMMUNITY BANKS, INC. | ||||||||||||||||||||||
| Loan Portfolio Composition at Period-End | ||||||||||||||||||||||
| 2025 | 2024 | Linked Quarter Change | Year over Year Change | |||||||||||||||||||
| (in millions) | Third Quarter | Second Quarter | First Quarter | Fourth Quarter | Third Quarter | |||||||||||||||||
| LOANS BY CATEGORY | ||||||||||||||||||||||
| Owner occupied commercial RE | $ | 3,678 | $ | 3,563 | $ | 3,419 | $ | 3,398 | $ | 3,323 | $ | 115 | $ | 355 | ||||||||
| Income producing commercial RE | 4,534 | 4,548 | 4,416 | 4,361 | 4,259 | (14 | ) | 275 | ||||||||||||||
| Commercial & industrial | 2,593 | 2,516 | 2,506 | 2,428 | 2,313 | 77 | 280 | |||||||||||||||
| Commercial construction | 1,734 | 1,752 | 1,681 | 1,656 | 1,785 | (18 | ) | (51 | ) | |||||||||||||
| Equipment financing | 1,808 | 1,778 | 1,723 | 1,663 | 1,603 | 30 | 205 | |||||||||||||||
| Total commercial | 14,347 | 14,157 | 13,745 | 13,506 | 13,283 | 190 | 1,064 | |||||||||||||||
| Residential mortgage | 3,198 | 3,210 | 3,218 | 3,232 | 3,263 | (12 | ) | (65 | ) | |||||||||||||
| Home equity | 1,252 | 1,180 | 1,099 | 1,065 | 1,015 | 72 | 237 | |||||||||||||||
| Residential construction | 178 | 174 | 171 | 178 | 189 | 4 | (11 | ) | ||||||||||||||
| Manufactured housing (1) | — | — | — | 2 | 2 | — | (2 | ) | ||||||||||||||
| Consumer | 192 | 191 | 183 | 186 | 188 | 1 | 4 | |||||||||||||||
| Other | 8 | 9 | 9 | 7 | 24 | (1 | ) | (16 | ) | |||||||||||||
| Total loans | $ | 19,175 | $ | 18,921 | $ | 18,425 | $ | 18,176 | $ | 17,964 | $ | 254 | $ | 1,211 | ||||||||
| LOANS BY MARKET | ||||||||||||||||||||||
| Georgia | $ | 4,584 | $ | 4,551 | $ | 4,484 | $ | 4,447 | $ | 4,470 | $ | 33 | $ | 114 | ||||||||
| South Carolina | 2,926 | 2,872 | 2,821 | 2,815 | 2,782 | 54 | 144 | |||||||||||||||
| North Carolina | 2,676 | 2,626 | 2,666 | 2,644 | 2,586 | 50 | 90 | |||||||||||||||
| Tennessee | 1,902 | 1,881 | 1,880 | 1,799 | 1,848 | 21 | 54 | |||||||||||||||
| Florida | 3,040 | 2,966 | 2,572 | 2,527 | 2,423 | 74 | 617 | |||||||||||||||
| Alabama | 1,054 | 1,016 | 1,009 | 996 | 996 | 38 | 58 | |||||||||||||||
| Commercial Banking Solutions | 2,993 | 3,009 | 2,993 | 2,948 | 2,859 | (16 | ) | 134 | ||||||||||||||
| Total loans | $ | 19,175 | $ | 18,921 | $ | 18,425 | $ | 18,176 | $ | 17,964 | $ | 254 | $ | 1,211 | ||||||||
(1) For 2025 periods, manufactured housing loans are included with consumer loans.
| UNITED COMMUNITY BANKS, INC. | |||||||||
| Credit Quality | |||||||||
| (in thousands) | |||||||||
| 2025 | |||||||||
| Third Quarter | Second Quarter | First Quarter | |||||||
| NONACCRUAL LOANS | |||||||||
| Owner occupied RE | $ | 10,275 | $ | 8,207 | $ | 8,949 | |||
| Income producing RE | 10,884 | 14,624 | 16,536 | ||||||
| Commercial & industrial | 25,754 | 15,422 | 22,396 | ||||||
| Commercial construction | 3,198 | 1,368 | 5,558 | ||||||
| Equipment financing | 9,716 | 11,731 | 8,818 | ||||||
| Total commercial | 59,827 | 51,352 | 62,257 | ||||||
| Residential mortgage | 28,978 | 22,597 | 22,756 | ||||||
| Home equity | 5,234 | 4,093 | 4,091 | ||||||
| Residential construction | 1,241 | 1,203 | 811 | ||||||
| Consumer | 1,163 | 1,207 | 1,423 | ||||||
| Total nonaccrual loans | 96,443 | 80,452 | 91,338 | ||||||
| OREO and repossessed assets | 1,473 | 3,507 | 1,952 | ||||||
| Total NPAs | $ | 97,916 | $ | 83,959 | $ | 93,290 | |||
| 2025 | |||||||||||||||||||||
| Third Quarter | Second Quarter | First Quarter | |||||||||||||||||||
| (in thousands) | Net Charge-Offs | Net Charge-Offs to Average Loans (1) | Net Charge-Offs | Net Charge-Offs to Average Loans (1) | Net Charge-Offs | Net Charge-Offs to Average Loans (1) | |||||||||||||||
| NET CHARGE-OFFS (RECOVERIES) BY CATEGORY | |||||||||||||||||||||
| Owner occupied RE | $ | 2,497 | 0.28 | % | $ | 470 | 0.05 | % | $ | 126 | 0.02 | % | |||||||||
| Income producing RE | (106 | ) | (0.01 | ) | 933 | 0.08 | 718 | 0.07 | |||||||||||||
| Commercial & industrial | (1,132 | ) | (0.18 | ) | 1,027 | 0.16 | 2,447 | 0.40 | |||||||||||||
| Commercial construction | 491 | 0.11 | 89 | 0.02 | (138 | ) | (0.03 | ) | |||||||||||||
| Equipment financing | 5,487 | 1.23 | 4,963 | 1.16 | 5,042 | 1.21 | |||||||||||||||
| Total commercial | 7,237 | 0.20 | 7,482 | 0.22 | 8,195 | 0.24 | |||||||||||||||
| Residential mortgage | (259 | ) | (0.03 | ) | 313 | 0.04 | (1 | ) | — | ||||||||||||
| Home equity | 19 | 0.01 | (72 | ) | (0.03 | ) | (62 | ) | (0.02 | ) | |||||||||||
| Residential construction | 12 | 0.03 | (9 | ) | (0.02 | ) | 219 | 0.51 | |||||||||||||
| Consumer | 667 | 1.39 | 511 | 1.11 | 1,256 | 2.76 | |||||||||||||||
| Total | $ | 7,676 | 0.16 | $ | 8,225 | 0.18 | $ | 9,607 | 0.21 | ||||||||||||
(1) Annualized.
| UNITED COMMUNITY BANKS, INC. | ||||||||
| Consolidated Balance Sheets (Unaudited) | ||||||||
| (in thousands, except share and per share data) | September 30, 2025 | December 31, 2024 | ||||||
| ASSETS | ||||||||
| Cash and due from banks | $ | 205,007 | $ | 296,161 | ||||
| Interest-bearing deposits in banks | 408,424 | 223,712 | ||||||
| Cash and cash equivalents | 613,431 | 519,873 | ||||||
| Debt securities available-for-sale | 3,889,263 | 4,436,291 | ||||||
| Debt securities held-to-maturity (fair value | 2,274,099 | 2,368,107 | ||||||
| Loans held for sale | 34,802 | 57,534 | ||||||
| Loans and leases held for investment | 19,174,794 | 18,175,980 | ||||||
| Less allowance for credit losses - loans and leases | (215,791 | ) | (206,998 | ) | ||||
| Loans and leases, net | 18,959,003 | 17,968,982 | ||||||
| Premises and equipment, net | 394,536 | 394,264 | ||||||
| Bank owned life insurance | 362,608 | 346,234 | ||||||
| Goodwill and other intangible assets, net | 971,071 | 956,643 | ||||||
| Other assets | 644,660 | 672,330 | ||||||
| Total assets | $ | 28,143,473 | $ | 27,720,258 | ||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| Liabilities: | ||||||||
| Deposits: | ||||||||
| Noninterest-bearing demand | $ | 6,444,067 | $ | 6,211,182 | ||||
| NOW and interest-bearing demand | 5,860,653 | 6,141,342 | ||||||
| Money market | 6,801,387 | 6,398,144 | ||||||
| Savings | 1,085,237 | 1,100,591 | ||||||
| Time | 3,673,718 | 3,441,424 | ||||||
| Brokered | 155,556 | 168,292 | ||||||
| Total deposits | 24,020,618 | 23,460,975 | ||||||
| Short-term borrowings | — | 195,000 | ||||||
| Long-term debt | 155,251 | 254,152 | ||||||
| Accrued expense and other liabilities | 370,753 | 378,004 | ||||||
| Total liabilities | 24,546,622 | 24,288,131 | ||||||
| Shareholders' equity: | ||||||||
| Preferred stock; outstanding, respectively; | — | 88,266 | ||||||
| Common stock, 121,553,462 and 119,364,110 shares issued and outstanding, respectively | 121,553 | 119,364 | ||||||
| Common stock issuable; 608,291 and 600,168 shares, respectively | 13,683 | 12,999 | ||||||
| Capital surplus | 2,767,143 | 2,710,279 | ||||||
| Retained earnings | 858,395 | 714,138 | ||||||
| Accumulated other comprehensive loss | (163,923 | ) | (212,919 | ) | ||||
| Total shareholders' equity | 3,596,851 | 3,432,127 | ||||||
| Total liabilities and shareholders' equity | $ | 28,143,473 | $ | 27,720,258 | ||||
| UNITED COMMUNITY BANKS, INC. | ||||||||||||||
| Consolidated Statements of Income (Unaudited) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (in thousands, except per share data) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Interest revenue: | ||||||||||||||
| Loans, including fees | $ | 297,929 | $ | 291,574 | $ | 860,269 | $ | 867,152 | ||||||
| Investment securities, including tax exempt of | 53,203 | 52,997 | 167,915 | 149,496 | ||||||||||
| Deposits in banks and short-term investments | 2,718 | 4,515 | 8,388 | 16,131 | ||||||||||
| Total interest revenue | 353,850 | 349,086 | 1,036,572 | 1,032,779 | ||||||||||
| Interest expense: | ||||||||||||||
| Deposits: | ||||||||||||||
| NOW and interest-bearing demand | 35,050 | 43,401 | 109,396 | 133,522 | ||||||||||
| Money market | 50,661 | 56,874 | 149,805 | 160,883 | ||||||||||
| Savings | 641 | 672 | 2,722 | 2,065 | ||||||||||
| Time | 32,123 | 35,202 | 94,622 | 107,925 | ||||||||||
| Deposits | 118,475 | 136,149 | 356,545 | 404,395 | ||||||||||
| Short-term borrowings | 25 | 27 | 1,215 | 87 | ||||||||||
| Federal Home Loan Bank advances | — | — | 433 | — | ||||||||||
| Long-term debt | 1,721 | 3,724 | 7,198 | 11,262 | ||||||||||
| Total interest expense | 120,221 | 139,900 | 365,391 | 415,744 | ||||||||||
| Net interest revenue | 233,629 | 209,186 | 671,181 | 617,035 | ||||||||||
| Noninterest income: | ||||||||||||||
| Service charges and fees | 11,400 | 10,488 | 31,057 | 30,372 | ||||||||||
| Mortgage loan gains and other related fees | 7,098 | 3,520 | 18,590 | 17,830 | ||||||||||
| Wealth management fees | 4,757 | 6,338 | 13,622 | 19,037 | ||||||||||
| Net gains (losses) from sales of other loans | 2,385 | (25,700 | ) | 5,776 | (22,867 | ) | ||||||||
| Lending and loan servicing fees | 4,235 | 3,512 | 12,090 | 11,050 | ||||||||||
| Securities gains, net | 49 | — | 341 | — | ||||||||||
| Other | 13,295 | 9,933 | 32,107 | 28,812 | ||||||||||
| Total noninterest income | 43,219 | 8,091 | 113,583 | 84,234 | ||||||||||
| Total revenue | 276,848 | 217,277 | 784,764 | 701,269 | ||||||||||
| Provision for credit losses | 7,907 | 14,428 | 35,144 | 39,562 | ||||||||||
| Noninterest expense: | ||||||||||||||
| Salaries and employee benefits | 90,667 | 83,533 | 261,931 | 254,336 | ||||||||||
| Communications and equipment | 13,937 | 12,626 | 40,968 | 36,534 | ||||||||||
| Occupancy | 11,502 | 11,311 | 33,366 | 33,466 | ||||||||||
| Advertising and public relations | 2,053 | 2,041 | 6,815 | 6,401 | ||||||||||
| Postage, printing and supplies | 2,735 | 2,477 | 7,791 | 7,376 | ||||||||||
| Professional fees | 6,282 | 6,432 | 17,822 | 18,464 | ||||||||||
| Lending and loan servicing expense | 2,428 | 2,227 | 6,745 | 6,068 | ||||||||||
| Outside services - electronic banking | 3,543 | 4,433 | 9,876 | 10,163 | ||||||||||
| FDIC assessments and other regulatory charges | 4,846 | 5,003 | 14,233 | 17,036 | ||||||||||
| Amortization of intangibles | 3,313 | 3,528 | 9,891 | 11,209 | ||||||||||
| Merger-related and other charges | 3,468 | 2,176 | 9,598 | 6,420 | ||||||||||
| Other | 6,094 | 7,278 | 20,850 | 27,638 | ||||||||||
| Total noninterest expense | 150,868 | 143,065 | 439,886 | 435,111 | ||||||||||
| Income before income taxes | 118,073 | 59,784 | 309,734 | 226,596 | ||||||||||
| Income tax expense | 26,579 | 12,437 | 68,094 | 50,003 | ||||||||||
| Net income | 91,494 | 47,347 | 241,640 | 176,593 | ||||||||||
| Preferred stock dividends and deemed dividend at redemption | 4,848 | 1,573 | 7,994 | 4,719 | ||||||||||
| Earnings allocated to participating securities | 507 | 272 | 1,356 | 988 | ||||||||||
| Net income available to common shareholders | $ | 86,139 | $ | 45,502 | $ | 232,290 | $ | 170,886 | ||||||
| Net income per common share: | ||||||||||||||
| Basic | $ | 0.71 | $ | 0.38 | $ | 1.92 | $ | 1.43 | ||||||
| Diluted | 0.70 | 0.38 | 1.91 | 1.43 | ||||||||||
| Weighted average common shares outstanding: | ||||||||||||||
| Basic | 122,116 | 119,818 | 121,186 | 119,736 | ||||||||||
| Diluted | 122,252 | 119,952 | 121,303 | 119,827 | ||||||||||
| UNITED COMMUNITY BANKS, INC. | ||||||||||||||||||||
| Average Consolidated Balance Sheets and Net Interest Analysis | ||||||||||||||||||||
| For the Three Months Ended September 30, | ||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||
| (dollars in thousands, fully taxable equivalent (FTE)) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | ||||||||||||||
| Assets: | ||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||
| Loans, net of unearned income (FTE) (1)(2) | $ | 19,010,663 | $ | 297,725 | 6.21 | % | $ | 18,051,741 | $ | 291,164 | 6.42 | % | ||||||||
| Taxable securities (3) | 6,217,693 | 51,522 | 3.31 | 6,182,164 | 51,284 | 3.32 | ||||||||||||||
| Tax-exempt securities (FTE) (1)(3) | 351,528 | 2,249 | 2.56 | 361,359 | 2,292 | 2.54 | ||||||||||||||
| Federal funds sold and other interest-earning assets | 413,678 | 3,389 | 3.25 | 505,792 | 5,440 | 4.28 | ||||||||||||||
| Total interest-earning assets (FTE) | 25,993,562 | 354,885 | 5.42 | 25,101,056 | 350,180 | 5.55 | ||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||
| Allowance for credit losses | (220,805 | ) | (215,008 | ) | ||||||||||||||||
| Cash and due from banks | 206,772 | 206,995 | ||||||||||||||||||
| Premises and equipment | 397,490 | 399,262 | ||||||||||||||||||
| Other assets (3) | 1,664,648 | 1,615,468 | ||||||||||||||||||
| Total assets | $ | 28,041,667 | $ | 27,107,773 | ||||||||||||||||
| Liabilities and Shareholders' Equity: | ||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||
| NOW and interest-bearing demand | $ | 5,825,997 | 35,050 | 2.39 | $ | 5,797,845 | 43,401 | 2.98 | ||||||||||||
| Money market | 6,907,894 | 50,661 | 2.91 | 6,342,455 | 56,874 | 3.57 | ||||||||||||||
| Savings | 1,107,509 | 641 | 0.23 | 1,126,774 | 672 | 0.24 | ||||||||||||||
| Time | 3,656,172 | 31,602 | 3.43 | 3,465,980 | 34,560 | 3.97 | ||||||||||||||
| Brokered time deposits | 50,529 | 521 | 4.09 | 50,364 | 642 | 5.07 | ||||||||||||||
| Total interest-bearing deposits | 17,548,101 | 118,475 | 2.68 | 16,783,418 | 136,149 | 3.23 | ||||||||||||||
| Federal funds purchased and other borrowings | 2,284 | 25 | 4.34 | 1,899 | 27 | 5.66 | ||||||||||||||
| Federal Home Loan Bank advances | — | — | — | 11 | — | — | ||||||||||||||
| Long-term debt | 155,197 | 1,721 | 4.40 | 323,544 | 3,724 | 4.58 | ||||||||||||||
| Total borrowed funds | 157,481 | 1,746 | 4.40 | 325,454 | 3,751 | 4.59 | ||||||||||||||
| Total interest-bearing liabilities | 17,705,582 | 120,221 | 2.69 | 17,108,872 | 139,900 | 3.25 | ||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||
| Noninterest-bearing deposits | 6,366,723 | 6,239,926 | ||||||||||||||||||
| Other liabilities | 334,443 | 391,574 | ||||||||||||||||||
| Total liabilities | 24,406,748 | 23,740,372 | ||||||||||||||||||
| Shareholders' equity | 3,634,919 | 3,367,401 | ||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 28,041,667 | $ | 27,107,773 | ||||||||||||||||
| Net interest revenue (FTE) | $ | 234,664 | $ | 210,280 | ||||||||||||||||
| Net interest-rate spread (FTE) | 2.73 | % | 2.30 | % | ||||||||||||||||
| Net interest margin (FTE) (4) | 3.58 | % | 3.33 | % | ||||||||||||||||
(1) Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled
(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
(4) Net interest margin is taxable equivalent net interest revenue divided by average interest-earning assets.
| UNITED COMMUNITY BANKS, INC. | ||||||||||||||||||||
| Average Consolidated Balance Sheets and Net Interest Analysis | ||||||||||||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||
| (dollars in thousands, fully taxable equivalent (FTE)) | Average Balance | Interest | Average Rate | Average Balance | Interest | Average Rate | ||||||||||||||
| Assets: | ||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||
| Loans, net of unearned income (FTE) (1)(2) | $ | 18,632,384 | $ | 859,678 | 6.17 | % | $ | 18,187,790 | $ | 866,502 | 6.36 | % | ||||||||
| Taxable securities (3) | 6,480,641 | 162,885 | 3.35 | 5,988,368 | 144,363 | 3.21 | ||||||||||||||
| Tax-exempt securities (FTE) (1)(3) | 354,115 | 6,730 | 2.53 | 363,692 | 6,876 | 2.52 | ||||||||||||||
| Federal funds sold and other interest-earning assets | 422,123 | 10,288 | 3.26 | 559,786 | 18,256 | 4.36 | ||||||||||||||
| Total interest-earning assets (FTE) | 25,889,263 | 1,039,581 | 5.37 | 25,099,636 | 1,035,997 | 5.51 | ||||||||||||||
| Non-interest-earning assets: | ||||||||||||||||||||
| Allowance for loan losses | (217,050 | ) | (214,372 | ) | ||||||||||||||||
| Cash and due from banks | 210,027 | 210,982 | ||||||||||||||||||
| Premises and equipment | 397,395 | 392,561 | ||||||||||||||||||
| Other assets (3) | 1,637,493 | 1,613,118 | ||||||||||||||||||
| Total assets | $ | 27,917,128 | $ | 27,101,925 | ||||||||||||||||
| Liabilities and Shareholders' Equity: | ||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||
| NOW and interest-bearing demand | $ | 6,002,702 | 109,396 | 2.44 | $ | 5,913,566 | 133,522 | 3.02 | ||||||||||||
| Money market | 6,713,585 | 149,805 | 2.98 | 6,092,649 | 160,883 | 3.53 | ||||||||||||||
| Savings | 1,133,078 | 2,722 | 0.32 | 1,159,982 | 2,065 | 0.24 | ||||||||||||||
| Time | 3,545,792 | 93,029 | 3.51 | 3,535,343 | 106,199 | 4.01 | ||||||||||||||
| Brokered time deposits | 50,488 | 1,593 | 4.22 | 50,343 | 1,726 | 4.58 | ||||||||||||||
| Total interest-bearing deposits | 17,445,645 | 356,545 | 2.73 | 16,751,883 | 404,395 | 3.22 | ||||||||||||||
| Federal funds purchased and other borrowings | 29,865 | 1,215 | 5.44 | 2,001 | 87 | 5.81 | ||||||||||||||
| Federal Home Loan Bank advances | 12,824 | 433 | 4.51 | 5 | — | — | ||||||||||||||
| Long-term debt | 215,440 | 7,198 | 4.47 | 324,414 | 11,262 | 4.64 | ||||||||||||||
| Total borrowed funds | 258,129 | 8,846 | 4.58 | 326,420 | 11,349 | 4.64 | ||||||||||||||
| Total interest-bearing liabilities | 17,703,774 | 365,391 | 2.76 | 17,078,303 | 415,744 | 3.25 | ||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||
| Noninterest-bearing deposits | 6,304,792 | 6,306,919 | ||||||||||||||||||
| Other liabilities | 350,211 | 394,323 | ||||||||||||||||||
| Total liabilities | 24,358,777 | 23,779,545 | ||||||||||||||||||
| Shareholders' equity | 3,558,351 | 3,322,380 | ||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 27,917,128 | $ | 27,101,925 | ||||||||||||||||
| Net interest revenue (FTE) | $ | 674,190 | $ | 620,253 | ||||||||||||||||
| Net interest-rate spread (FTE) | 2.61 | % | 2.26 | % | ||||||||||||||||
| Net interest margin (FTE) (4) | 3.48 | % | 3.30 | % | ||||||||||||||||
(1) Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled
(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
(4) Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.
About United Community Banks, Inc.
United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of September 30, 2025, United Community Banks, Inc. had
Non-GAAP Financial Measures
This press release, including the accompanying financial statement tables, contains financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as “noninterest income – operating”, “noninterest expense - operating”, “operating net income,” “pre-tax, pre-provision income,” “operating net income per diluted common share,” “operating earnings per share,” “tangible book value per common share,” “operating return on common equity,” “operating return on tangible common equity,” “operating return on assets,” “return on assets - pre-tax, pre-provision - operating,” “return on assets - pre-tax, pre-provision,” “operating efficiency ratio,” and “tangible common equity to tangible assets.” These non-GAAP measures are included because United believes they may provide useful supplemental information for evaluating United’s underlying performance trends. These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included with the accompanying financial statement tables.
Caution About Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential,” or the negative of these terms or other comparable terminology. Forward-looking statements are not historical facts and represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.
Factors that could cause or contribute to such differences include, but are not limited to general competitive, economic, political, regulatory and market conditions. Further information regarding additional factors which could affect the forward-looking statements contained in this press release can be found in the cautionary language included under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in United’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents subsequently filed by United with the United States Securities and Exchange Commission (“SEC”).
Many of these factors are beyond United’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and United undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for United to predict their occurrence or how they will affect United.
United qualifies all forward-looking statements by these cautionary statements.
For more information:
Jefferson Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com
FAQ
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