GREENVILLE, S.C., April 21, 2026 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NYSE:UCB) (United) today announced net income for the first quarter of 2026 of $84.3 million and pre-tax, pre-provision income of $119.2 million. Diluted earnings per share of $0.69 for the quarter represented an increase of $0.11 from the first quarter of 2025 and a decrease of $0.01 from the fourth quarter of 2025.

On an operating basis, United's diluted earnings per share of $0.70 increased 19% from the year-ago quarter. Strong revenue growth and positive operating leverage drove the year-over-year results.

United's return on assets was 1.22% on both a GAAP and operating basis in the first quarter of 2026, up from 1.02% and 1.04%, GAAP and operating, respectively, for the first quarter of 2025. Return on common equity was 9.4% and return on tangible common equity on an operating basis was 13.1%. On a pre-tax, pre-provision basis, operating return on assets was 1.73% for the quarter. At quarter-end, tangible common equity to tangible assets was 9.9%, equal to the fourth quarter.

Chairman and CEO Lynn Harton stated, "Our first quarter results mark the start of what we expect to be a great year for United. We continue to improve our earning asset mix by growing loans, funded by maturing investment securities and growth in customer deposits. This shift in earning asset composition and our strategic focus on deposit pricing helped to widen our net interest margin by three basis points in the first quarter. In fact, our net interest margin is up 29 basis points when compared to the first quarter of 2025. We entered the year with a small wholesale funding position, but deposit growth allowed that to be completely repaid by the end of the quarter. We took advantage of our strong capital position and repurchased 1.09 million shares of our common stock at an average price of $33.97 per share during the quarter. All our key performance metrics show significant improvement when compared to the first quarter of 2025. With strong capital and liquidity, we notified holders of our remaining $100 million in subordinated debentures of our intent to redeem those securities in the second quarter.

Harton continued, "I'm very proud of our first quarter financial results and also pleased to report that we were notified in March that United had earned its twelfth JD Power award for outstanding customer satisfaction in the Southeast. That is a tremendous accomplishment by our exceptional team of bankers and a testament to the enduring nature and consistency of our strong corporate culture throughout our organization. Congratulations to our entire team for this great recognition of your focus on customer care."

Net charge-offs were $10.4 million or 0.22% annualized of average loans, compared with 0.21% for the first quarter of 2025 and 0.34% for the fourth quarter of 2025. Nonperforming assets were 0.35% of total assets, up slightly from 0.33% for the fourth quarter. Provision for credit losses was $10.9 million for the first quarter, down from $15.4 million a year ago and $13.7 million for the fourth quarter. As of March 31, the allowance for credit losses represents 1.15% of loans, down slightly from 1.16% at December 31, 2025, reflecting more optimism in the economic forecast.

United also announced today the execution of a definitive merger agreement to acquire Peach State Bancshares, Inc. Details of the transaction are described in a separate presentation, filed with the SEC on April 21 and available within the Investor Relations section of United's website.

First Quarter 2026 Financial Highlights:

EPS of $0.69 was up $0.11 on a GAAP basis compared to first quarter 2025, and EPS of $0.70 was up $0.11, or 19%, on an operating basis
Net income of $84.3 million and pre-tax, pre-provision income of $119.2 million, up $12.9 million and $12.6 million, respectively, from a year ago
Total revenue of $276.5 million improved $28.8 million, or 12%, from a year ago
Net interest margin of 3.65% increased by 29 basis points from a year ago and 3 basis points from the fourth quarter on a lower cost of funds and improving asset mix
Provision for credit losses was $10.9 million, down $4.6 million from a year ago and $2.8 million from the fourth quarter; allowance for credit losses coverage down slightly to 1.15% of total loans; net charge-offs were $10.4 million, or 0.22% of average loans, annualized
Noninterest expense was up $5.3 million compared to the fourth quarter on a GAAP basis and up $0.2 million on an operating basis
Efficiency ratio of 56.7% on a GAAP basis, or 55.7% on an operating basis, improved from a year ago
Strong loan production led to loan growth of $218 million, up 4.5% annualized, from the fourth quarter
Mortgage closings of $251 million compared to $187 million in first quarter 2025; mortgage rate locks of $408 million compared to $330 million in first quarter 2025
Customer deposits were up $237 million from the fourth quarter
Return on assets of 1.22% on both a GAAP and operating basis
Return on common equity and return on tangible common equity on an operating basis were 9.4% and 13.1%, respectively
Maintained strong capital ratios with preliminary Common Equity Tier 1 of 13.4%
Quarterly common dividend of $0.25 per share declared during the quarter, up 4% year-over-year
Repurchased 1.09 million shares of common stock in the first quarter at an average price of $33.97 per share

Conference Call

United will hold a conference call on Tuesday, April 21, 2026 at 9:00 a.m. EST 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/10207568/103998c8460. 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											First Quarter 2026 – 2025 Change
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter			First Quarter 2026 – 2025 Change
INCOME SUMMARY
Interest revenue	$	333,961		$	346,367		$	353,850		$	347,365		$	335,357
Interest expense		101,197			108,441			120,221			121,834			123,336
Net interest revenue		232,764			237,926			233,629			225,531			212,021		10	%
Noninterest income		43,746			40,462			43,219			34,708			35,656		23
Total revenue		276,510			278,388			276,848			260,239			247,677		12
Provision for credit losses		10,853			13,662			7,907			11,818			15,419		(30	)
Noninterest expense		157,302			152,048			150,868			147,919			141,099		11
Income before income tax expense		108,355			112,678			118,073			100,502			91,159		19
Income tax expense		24,066			26,223			26,579			21,769			19,746		22
Net income		84,289			86,455			91,494			78,733			71,413		18
Non-operating items		508			606			3,468			4,833			1,297
Income tax benefit of non-operating items		(113	)		(133	)		(751	)		(1,047	)		(281	)
Net income – operating ⁽¹⁾	$	84,684		$	86,928		$	94,211		$	82,519		$	72,429		17
Pre-tax pre-provision income ⁽⁵⁾	$	119,208		$	126,340		$	125,980		$	112,320		$	106,578		12
PERFORMANCE MEASURES
Per common share:
Diluted net income – GAAP	$	0.69		$	0.70		$	0.70		$	0.63		$	0.58		19
Diluted net income – operating ⁽¹⁾		0.70			0.71			0.75			0.66			0.59		19
Cash dividends declared		0.25			0.25			0.25			0.24			0.24		4
Book value		30.54			30.17			29.44			28.89			28.42		7
Tangible book value ⁽³⁾		22.56			22.24			21.59			21.00			20.58		10
Key performance ratios:
Return on common equity – GAAP ⁽²⁾⁽⁴⁾		9.35	%		9.48	%		9.20	%		8.45	%		7.89	%
Return on common equity – operating ^(1)(2)(4)		9.39			9.53			9.83			8.87			8.01
Return on tangible common equity - operating ^(1)(2)(3)(4)		13.05			13.31			13.56			12.34			11.21
Return on assets – GAAP ⁽⁴⁾		1.22			1.21			1.29			1.11			1.02
Return on assets – operating ⁽¹⁾⁽⁴⁾		1.22			1.22			1.33			1.16			1.04
Return on assets – pre-tax pre-provision, excluding non-operating items ^(1)(4)(5)		1.73			1.78			1.83			1.66			1.55
Net interest margin (fully taxable equivalent) ⁽⁴⁾		3.65			3.62			3.58			3.50			3.36
Efficiency ratio – GAAP		56.66			54.40			54.30			56.69			56.74
Efficiency ratio – operating ⁽¹⁾		55.65			54.19			53.05			54.84			56.22
Equity to total assets		12.97			12.99			12.78			12.86			12.56
Tangible common equity to tangible assets ⁽³⁾		9.92			9.92			9.71			9.45			9.18
ASSET QUALITY
Nonperforming assets ("NPAs")	$	98,623		$	93,498		$	97,916		$	83,959		$	93,290		6
ACL, loans		208,396			210,429			215,791			216,500			211,974		(2	)
ACL, total		225,996			225,520			228,276			228,045			223,201		1
Net charge-offs		10,377			16,418			7,676			8,225			9,607		8
ACL, loans to loans		1.06	%		1.09	%		1.13	%		1.14	%		1.15	%
ACL, total to loans		1.15			1.16			1.19			1.21			1.21
Net charge-offs to average loans ⁽⁴⁾		0.22			0.34			0.16			0.18			0.21
NPAs to total assets		0.35			0.33			0.35			0.30			0.33
AT PERIOD END ($ in millions)
Loans	$	19,602		$	19,384		$	19,175		$	18,921		$	18,425		6
Investment securities		5,889			5,988			6,163			6,382			6,661		(12	)
Total assets		28,177			28,003			28,143			28,086			27,874		1
Deposits		24,025			23,798			24,021			23,963			23,762		1
Shareholders' equity		3,655			3,639			3,597			3,613			3,501		4
Common shares outstanding (thousands)		119,684			120,598			121,553			121,431			119,514		—
_{⁽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)	First Quarter			Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Linked Quarter Change			Year over Year Change
LOANS BY CATEGORY
Owner occupied commercial RE	$	4,041		$	3,950	$	3,678	$	3,563	$	3,419	$	91		$	622
Income producing commercial RE		4,984			5,032		4,534		4,548		4,416		(48	)		568
Commercial & industrial		2,771			2,696		2,593		2,516		2,506		75			265
Commercial construction & land		1,072			998		1,734		1,752		1,681		74			(609	)
Equipment financing		1,897			1,848		1,808		1,778		1,723		49			174
Total commercial		14,765			14,524		14,347		14,157		13,745		241			1,020
Residential mortgage		3,122			3,157		3,198		3,210		3,218		(35	)		(96	)
Home equity		1,344			1,319		1,252		1,180		1,099		25			245
Residential construction & land		185			191		178		174		171		(6	)		14
Consumer		187			188		192		191		183		(1	)		4
Other		(1	)		5		8		9		9		(6	)		(10	)
Total loans	$	19,602		$	19,384	$	19,175	$	18,921	$	18,425	$	218		$	1,177

LOANS BY MARKET
Georgia	$	4,617		$	4,635	$	4,584	$	4,551	$	4,484	$	(18	)	$	133
South Carolina		3,037			2,971		2,926		2,872		2,821		66			216
North Carolina		2,722			2,712		2,676		2,626		2,666		10			56
Tennessee		1,895			1,913		1,902		1,881		1,880		(18	)		15
Florida		3,229			3,102		3,040		2,966		2,572		127			657
Alabama		1,049			1,050		1,054		1,016		1,009		(1	)		40
Commercial Banking Solutions		3,053			3,001		2,993		3,009		2,993		52			60
Total loans	$	19,602		$	19,384	$	19,175	$	18,921	$	18,425	$	218		$	1,177

UNITED COMMUNITY BANKS, INC.
Credit Quality
(in thousands)
		2026		2025
	First Quarter		Fourth Quarter		Third Quarter
NONACCRUAL LOANS
Owner occupied RE	$	18,265	$	11,165	$	10,275
Income producing RE		11,037		11,488		10,884
Commercial & industrial		19,890		18,294		25,754
Commercial construction & land		17		18		3,198
Equipment financing		8,024		10,383		9,716
Total commercial		57,233		51,348		59,827
Residential mortgage		31,906		32,423		28,978
Home equity		6,209		5,247		5,234
Residential construction & land		355		1,079		1,241
Consumer		1,009		1,001		1,163
Total nonaccrual loans		96,712		91,098		96,443
OREO and repossessed assets		1,911		2,400		1,473
Total NPAs	$	98,623	$	93,498	$	97,916

		2026					2025
	First Quarter					Fourth Quarter					Third 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	$	666		0.07	%	$	1,610		0.17	%	$	2,497		0.28	%
Income producing RE		(85	)	(0.01	)		(116	)	(0.01	)		(106	)	(0.01	)
Commercial & industrial		3,309		0.50			7,557		1.15			(1,132	)	(0.18	)
Commercial construction & land		6		—			1,484		0.35			491		0.11
Equipment financing		5,835		1.29			5,092		1.12			5,487		1.23
Total commercial		9,731		0.27			15,627		0.43			7,237		0.20
Residential mortgage		133		0.02			126		0.02			(259	)	(0.03	)
Home equity		(54	)	(0.02	)		(94	)	(0.03	)		19		0.01
Residential construction & land		12		0.03			16		0.03			12		0.03
Consumer		555		1.21			743		1.55			667		1.39
Total	$	10,377		0.22		$	16,418		0.34		$	7,676		0.16

_{⁽¹⁾ Annualized.}

UNITED COMMUNITY BANKS, INC. Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)	March 31, 2026			December 31, 2025
ASSETS
Cash and due from banks	$	177,025		$	202,586
Interest-bearing deposits in banks		316,116			193,168
Cash and cash equivalents		493,141			395,754
Trading securities		103,384			—
Debt securities available-for-sale		3,574,546			3,750,863
Debt securities held-to-maturity (fair value $1,878,414 and $1,918,426, respectively)		2,211,523			2,237,356
Loans held for sale		41,357			39,381
Loans and leases held for investment		19,601,641			19,384,317
Less allowance for credit losses – loans and leases		(208,396	)		(210,429	)
Loans and leases, net		19,393,245			19,173,888
Premises and equipment, net		391,883			393,714
Bank-owned life insurance		365,492			364,184
Goodwill and other intangible assets, net		964,819			967,882
Other assets		637,192			679,532
Total assets	$	28,176,582		$	28,002,554
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand	$	6,473,101		$	6,252,252
NOW and interest-bearing demand		5,900,748			5,969,864
Money market		6,720,216			6,696,530
Savings		1,101,590			1,085,331
Time		3,664,706			3,619,189
Brokered		164,704			175,264
Total deposits		24,025,065			23,798,430
Short-term borrowings		—			85,000
Long-term debt		120,500			120,400
Accrued expense and other liabilities		376,351			360,038
Total liabilities		24,521,916			24,363,868
Shareholders' equity:
Common stock, $1 par value; 200,000,000 shares authorized, 119,684,031 and 120,598,266 shares issued and outstanding, respectively		119,684			120,598
Capital surplus		2,721,132			2,754,399
Retained earnings		968,188			914,261
Accumulated other comprehensive loss		(154,338	)		(150,572	)
Total shareholders' equity		3,654,666			3,638,686
Total liabilities and shareholders' equity	$	28,176,582		$	28,002,554

UNITED COMMUNITY BANKS, INC. Consolidated Statements of Income (Unaudited)
	Three Months Ended March 31,
(in thousands, except per share data)		2026		2025
Interest revenue:
Loans, including fees	$	286,599	$	274,056
Investment securities, including tax exempt of $1,646 and $1,678, respectively		45,344		58,850
Trading securities		785		—
Deposits in banks and short-term investments		1,233		2,451
Total interest revenue		333,961		335,357

Interest expense:
Deposits:
NOW and interest-bearing demand		28,129		37,390
Money market		40,709		49,541
Savings		480		624
Time		28,711		31,379
Deposits		98,029		118,934
Short-term borrowings		998		1,107
Federal Home Loan Bank advances		969		433
Long-term debt		1,201		2,862
Total interest expense		101,197		123,336
Net interest revenue		232,764		212,021

Noninterest income:
Service charges and fees		9,545		9,535
Mortgage loan gains and other related fees		8,029		6,122
Wealth management fees		4,629		4,465
Net gains from sales of other loans		1,893		1,396
Lending and loan servicing fees		3,971		4,165
Securities gains, net		133		6
Other		15,546		9,967
Total noninterest income		43,746		35,656
Total revenue		276,510		247,677

Provision for credit losses		10,853		15,419

Noninterest expense:
Salaries and employee benefits		101,249		84,267
Communications and equipment		14,102		13,699
Occupancy		11,725		10,929
Advertising and public relations		2,397		1,881
Postage, printing and supplies		2,757		2,561
Professional fees		5,576		5,931
Lending and loan servicing expense		2,582		1,987
Outside services – electronic banking		3,559		2,763
FDIC assessments and other regulatory charges		2,269		4,642
Amortization of intangibles		3,063		3,286
Merger-related and other charges		873		1,297
Other		7,150		7,856
Total noninterest expense		157,302		141,099
Income before income taxes		108,355		91,159
Income tax expense		24,066		19,746
Net income		84,289		71,413
Preferred stock dividends		—		1,573
Earnings allocated to participating securities		552		411
Net income available to common shareholders	$	83,737	$	69,429

Net income per common share:
Basic	$	0.69	$	0.58
Diluted		0.69		0.58
Weighted average common shares outstanding:
Basic		120,498		120,043
Diluted		120,723		120,201

UNITED COMMUNITY BANKS, INC. Average Consolidated Balance Sheets and Net Interest Analysis For the Three Months Ended March 31,
		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⁾	$	19,403,795		$	286,629	5.99	%	$	18,213,501		$	273,930	6.10	%
AFS & HTM taxable securities ⁽³⁾		5,845,672			43,698	2.99			6,737,658			57,172	3.39
AFS & HTM tax-exempt securities (FTE) ⁽¹⁾⁽³⁾		346,420			2,202	2.54			356,712			2,245	2.52
Other interest-earning assets		389,637			2,540	2.64			400,592			3,001	3.04
Total interest-earning assets (FTE)		25,985,524			335,069	5.22			25,708,463			336,348	5.29

Noninterest-earning assets:
Allowance for credit losses		(212,867	)						(210,169	)
Cash and due from banks		200,085							219,540
Premises and equipment		393,853							396,443
Other assets ⁽³⁾		1,705,566							1,610,104
Total assets	$	28,072,161						$	27,724,381

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW and interest-bearing demand	$	5,853,104			28,129	1.95		$	6,134,004			37,390	2.47
Money market		6,826,707			40,709	2.42			6,583,963			49,541	3.05
Savings		1,089,856			480	0.18			1,096,308			624	0.23
Time		3,651,034			28,183	3.13			3,446,048			30,831	3.63
Brokered time deposits		60,279			528	3.55			50,447			548	4.41
Total interest-bearing deposits		17,480,980			98,029	2.27			17,310,770			118,934	2.79
Federal funds purchased and other borrowings		107,668			998	3.76			80,760			1,107	5.56
Federal Home Loan Bank advances		102,278			969	3.84			38,900			433	4.51
Long-term debt		120,450			1,201	4.04			254,220			2,862	4.57
Total borrowed funds		330,396			3,168	3.89			373,880			4,402	4.77
Total interest-bearing liabilities		17,811,376			101,197	2.30			17,684,650			123,336	2.83

Noninterest-bearing liabilities:
Noninterest-bearing deposits		6,265,370							6,194,217
Other liabilities		337,611							369,939
Total liabilities		24,414,357							24,248,806
Shareholders' equity		3,657,804							3,475,575
Total liabilities and shareholders' equity	$	28,072,161						$	27,724,381

Net interest revenue (FTE)				$	233,872						$	213,012
Net interest-rate spread (FTE)						2.92	%						2.46	%
Net interest margin (FTE) ⁽⁴⁾						3.65	%						3.36	%
_{⁽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 $1.11 million and $991,000, respectively, for the three months ended March 31, 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 $176 million in 2026 and $269 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
	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Noninterest income reconciliation
Noninterest income (GAAP)	$	43,746		$	40,462		$	43,219		$	34,708		$	35,656
Gain on terminated cash flow hedge		(5,184	)		—			—			—			—
Noninterest income – operating	$	38,562		$	40,462		$	43,219		$	34,708		$	35,656

Noninterest expense reconciliation
Noninterest expense (GAAP)	$	157,302		$	152,048		$	150,868		$	147,919		$	141,099
Payroll transition bonus		(6,704	)		—			—			—			—
FDIC special assessment accrual reversal		1,885			—			—			—			—
Merger-related and other charges		(873	)		(606	)		(3,468	)		(4,833	)		(1,297	)
Noninterest expense – operating	$	151,610		$	151,442		$	147,400		$	143,086		$	139,802

Net income to operating income reconciliation
Net income (GAAP)	$	84,289		$	86,455		$	91,494		$	78,733		$	71,413
Gain on terminated cash flow hedge		(5,184	)		—			—			—			—
Payroll transition bonus		6,704			—			—			—			—
FDIC special assessment accrual reversal		(1,885	)		—			—			—			—
Merger-related and other charges		873			606			3,468			4,833			1,297
Income tax benefit of non-operating items		(113	)		(133	)		(751	)		(1,047	)		(281	)
Net income – operating	$	84,684		$	86,928		$	94,211		$	82,519		$	72,429

Net income to pre-tax pre-provision income reconciliation
Net income (GAAP)	$	84,289		$	86,455		$	91,494		$	78,733		$	71,413
Income tax expense		24,066			26,223			26,579			21,769			19,746
Provision for credit losses		10,853			13,662			7,907			11,818			15,419
Pre-tax pre-provision income	$	119,208		$	126,340		$	125,980		$	112,320		$	106,578

Diluted income per common share reconciliation
Diluted income per common share (GAAP)	$	0.69		$	0.70		$	0.70		$	0.63		$	0.58
Gain on terminated cash flow hedge		(0.03	)		—			—			—			—
Payroll transition bonus		0.04			—			—			—			—
FDIC special assessment accrual reversal		(0.01	)		—			—			—			—
Merger-related and other charges		0.01			0.01			0.02			0.03			0.01
Deemed dividend on preferred stock redemption		—			—			0.03			—			—
Diluted income per common share – operating	$	0.70		$	0.71		$	0.75		$	0.66		$	0.59

Book value per common share reconciliation
Book value per common share (GAAP)	$	30.54		$	30.17		$	29.44		$	28.89		$	28.42
Effect of goodwill and other intangibles		(7.98	)		(7.93	)		(7.85	)		(7.89	)		(7.84	)
Tangible book value per common share	$	22.56		$	22.24		$	21.59		$	21.00		$	20.58

Return on tangible common equity reconciliation
Return on common equity (GAAP)		9.35	%		9.48	%		9.20	%		8.45	%		7.89	%
Gain on terminated cash flow hedge		(0.45	)		—			—			—			—
Payroll transition bonus		0.58			—			—			—			—
FDIC special assessment accrual reversal		(0.16	)		—			—			—			—
Merger-related and other charges		0.07			0.05			0.29			0.42			0.12
Deemed dividend on preferred stock redemption		—			—			0.34			—			—
Return on common equity – operating		9.39			9.53			9.83			8.87			8.01
Effect of goodwill and other intangibles		3.66			3.78			3.73			3.47			3.20
Return on tangible common equity – operating		13.05	%		13.31	%		13.56	%		12.34	%		11.21	%

Return on assets reconciliation
Return on assets (GAAP)		1.22	%		1.21	%		1.29	%		1.11	%		1.02	%
Gain on terminated cash flow hedge		(0.06	)		—			—			—			—
Payroll transition bonus		0.07			—			—			—			—
FDIC special assessment accrual reversal		(0.02	)		—			—			—			—
Merger-related and other charges		0.01			0.01			0.04			0.05			0.02
Return on assets – operating		1.22	%		1.22	%		1.33	%		1.16	%		1.04	%

Return on assets to return on assets – pre-tax pre-provision reconciliation
Return on assets (GAAP)		1.22	%		1.21	%		1.29	%		1.11	%		1.02	%
Income tax expense		0.35			0.37			0.38			0.31			0.29
Provision for credit losses		0.16			0.19			0.11			0.17			0.23
Gain on terminated cash flow hedge		(0.08	)		—			—			—			—
Payroll transition bonus		0.10			—			—			—			—
FDIC special assessment accrual reversal		(0.03	)		—			—			—			—
Merger-related and other charges		0.01			0.01			0.05			0.07			0.01
Return on assets – pre-tax pre-provision – operating		1.73	%		1.78	%		1.83	%		1.66	%		1.55	%

Efficiency ratio reconciliation
Efficiency ratio (GAAP)		56.66	%		54.40	%		54.30	%		56.69	%		56.74	%
Gain on terminated cash flow hedge		1.03			—			—			—			—
Payroll transition bonus		(2.41	)		—			—			—			—
FDIC special assessment accrual reversal		0.68			—			—			—			—
Merger-related and other charges		(0.31	)		(0.21	)		(1.25	)		(1.85	)		(0.52	)
Efficiency ratio – operating		55.65	%		54.19	%		53.05	%		54.84	%		56.22	%

Tangible common equity to tangible assets reconciliation
Equity to total assets (GAAP)		12.97	%		12.99	%		12.78	%		12.86	%		12.56	%
Effect of goodwill and other intangibles		(3.05	)		(3.07	)		(3.07	)		(3.10	)		(3.06	)
Effect of preferred equity		—			—			—			(0.31	)		(0.32	)
Tangible common equity to tangible assets		9.92	%		9.92	%		9.71	%		9.45	%		9.18	%

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 March 31, 2026, United Community Banks, Inc. had $28.2 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", "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 cost savings and any revenue synergies from the merger with Peach State Bancshares, Inc. (the "Merger") may not be realized or take longer than anticipated to be realized, (2) disruption from the Merger 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 Merger Agreement, (4) the failure to obtain the necessary approval by the shareholders of Peach State, (5) the possibility that the costs, fees, expenses and charges related to the Merger may be greater than anticipated, (6) the ability of United to obtain required governmental approvals of the Merger on the anticipated timeframe and without the imposition of adverse conditions, (7) reputational risk and the reaction of each of the companies' customers, suppliers, employees or other business partners to the Merger, (8) the failure of the closing conditions in the Merger Agreement to be satisfied, or any unexpected delay in closing the Merger, (9) 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, (10) the risk of potential litigation or regulatory action related to the Merger, (11) the risks associated with United's pursuit of future acquisitions, (12) the risk of expansion into new geographic or product markets, (13) the dilution caused by United's issuance of additional shares of its common stock in the Merger, and (14) 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

United Community Banks, Inc. Reports First Quarter Earnings