2 Glossary of Defined Terms The following terms may be used throughout this report, including the consolidated financial statements and related notes. | Term | Definition | | --- | --- | | 2024 10-K | United's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February | | 27, 2025 | | | ACL | Allowance for credit losses | | AFS | Available-for-sale | | ANB | ANB Holdings, Inc. and its wholly-owned subsidiary, American National Bank | | AOCI | Accumulated other comprehensi ...

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Efficiency Ratio - Operating: 54.8% compared to the 54.9% average estimate based on two analysts. Net charge-offs to average loans: 0.2% compared to the 0.2% average estimate based on two analysts. Net Interest Margin: 3.4% versus 3.4% estimated by two analysts on average. Average balance - Total interest-earning assets: $25.96 billion versus $27.32 billion estimated by two analysts on average. Total nonperforming assets: $83.96 million versus the two-analyst average estimate of $95.46 million. Total nonper ...

Financial Data and Key Metrics Changes - Operating earnings per share for the quarter was $0.66, an increase of 14% year over year [3] - Net interest margin expanded to 3.50%, an improvement of 14 basis points over the last quarter [3] - Customer deposits, excluding merger activity, grew by 1.3% annualized [4] - Loan growth was 4.2% annualized, with strong pipelines heading into the third quarter [4] - Efficiency ratio improved to 54.8%, an improvement of 222 basis points compared to last year [5] Business Line Data and Key Metrics Changes - Deposits increased by $205 million, benefiting from the American National deal [7] - Excluding public fund seasonality, deposits grew by $64 million or 1.2% annualized [8] - Loan portfolio growth continued at a 4.2% annualized pace, excluding American National [9] - Spread income grew at a 21% annualized pace, excluding American National [11] - Operating expenses increased by $2.1 million, primarily driven by merit increases [12] Market Data and Key Metrics Changes - The CET1 ratio remained stable at 13.3%, indicating strong capital position [10] - The loan to deposit ratio increased slightly to 79% due to the acquisition and solid loan growth [9] - The total deposit beta was 34% so far, with expectations for a high 30% range through the cycle [8] Company Strategy and Development Direction - The company continues to seek small, high-performing institutions for potential acquisitions [22] - Focus remains on organic growth, M&A, dividends, and buybacks, with a cautious approach to capital management [48] - The company is actively recruiting top talent to enhance its footprint and market presence [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the outlook for the rest of the year despite uncertainties related to tariffs and yield curve direction [15] - There is a positive sentiment among clients regarding economic conditions and potential tax benefits [43] Other Important Information - The company redeemed $100 million in senior notes to manage interest costs effectively [9] - The allowance for credit losses remained flat at 1.21%, with a provision of $11.8 million for the quarter [14] Q&A Session Summary Question: Inquiry about loan growth and hiring initiatives - Management confirmed there were some pay downs but remains optimistic about loan growth in Q3, expecting it to be around 6% [19] - The company is focused on recruiting top talent and has made recent hires to strengthen its team [20] Question: Update on M&A strategy - The company continues to look for small, high-performing institutions for acquisition, with a more favorable outlook compared to previous months [22] Question: Core margin and deposit beta expectations - Management anticipates continued core margin expansion, targeting about five basis points in the third quarter [25] Question: Openness to share buybacks - Currently, the company is not active in buybacks but retains authorization for future opportunities at lower prices [34] Question: Outlook on Navitas growth - Navitas had a strong quarter, and the company plans to maintain or increase loan sales for the rest of the year [38] Question: Capital management and securities restructuring - The company has significant excess capital and is evaluating options for securities restructuring but prioritizes organic growth and M&A [48][47]

Financial Data and Key Metrics Changes - Operating earnings per share for Q2 2025 was $0.66, representing a 14% year-over-year increase [3] - Net interest margin expanded to 3.50%, an improvement of 14 basis points from the previous quarter [3] - Customer deposits, excluding merger activity, grew by 1.3% annualized [4] - Loan growth was 4.2% annualized, with strong pipelines heading into Q3 [4] - Efficiency ratio improved to 54.8%, a decrease of 222 basis points compared to the previous year [5] Business Line Data and Key Metrics Changes - Deposits increased by $205 million, benefiting from the American National acquisition [6] - Public funds deposits outflows were $233 million, but excluding this, deposits grew by $64 million or 1.2% annualized [7] - The loan portfolio continued to grow at a 4.2% annualized pace, excluding the American National acquisition [8] - The cost of deposits decreased to 2.01%, achieving a 34% total deposit beta [7] Market Data and Key Metrics Changes - The CET1 ratio remained stable at 13.3%, indicating strong capital position [10] - The TCE ratio increased by 27 basis points, with all capital ratios above peers [10] - The company repurchased 507,000 shares for approximately $14 million [10] Company Strategy and Development Direction - The company aims to continue looking for small, high-performing institutions for potential acquisitions [22] - Focus remains on organic growth, M&A, dividends, and buybacks, with a strong emphasis on recruiting top talent [62][64] - The management is optimistic about the economic environment and expects continued loan growth and margin expansion [16][19] Management Comments on Operating Environment and Future Outlook - Management acknowledges uncertainties in the environment, particularly regarding tariffs and yield curve direction, but remains optimistic about the outlook for the rest of the year [16] - The sentiment among commercial borrowers has improved, with clients feeling more comfortable about economic conditions [43] Other Important Information - The company has been active in managing capital, having paid down $100 million in senior debt and repurchased $14 million in common shares [10][11] - The allowance for credit losses remained flat at 1.21%, with a loan loss provision of $11.8 million covering net charge-offs of $8.2 million [14] Q&A Session Summary Question: Inquiry about loan growth and hiring initiatives - Management confirmed there were some pay downs but expressed confidence in loan growth for Q3, expecting it to be around 6% [19] - The company is focused on recruiting top talent and has ongoing discussions to add additional lenders [19][20] Question: Core margin and future expectations - Management anticipates margin expansion of about five basis points in Q3, driven by lower deposit costs and a shift towards loans [25][26] Question: Buyback strategy and Navitas growth - Currently, the company is not active in buybacks but retains authorization for future opportunities [34] - Navitas is expected to continue strong growth, with sales of loans anticipated to remain at or above current levels [37] Question: Capital management and securities restructuring - The company has significant excess capital and is evaluating options for securities restructuring but has not made a decision yet [46][48] Question: Hiring focus and market opportunities - The company is targeting both markets with lower deposit shares and major metro areas for growth, emphasizing the importance of talent acquisition [62][64]

2Q25 Investor Presentation July 23, 2025 © 2025 United Community Bank | ucbi.com Disclosures CAUTIONARY STATEMENT This Investor Presentation 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," "pre ...

Disclosures CAUTIONARY STATEMENT © 2025 United Community Bank | ucbi.com 2Q25 Investor Presentation July 23, 2025 This Investor Presentation 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," "pre ...

Core Viewpoint - United Community Banks, Inc. reported strong financial results for the second quarter of 2025, driven by margin expansion, stable credit quality, and disciplined expense control, with net income reaching $78.7 million and diluted earnings per share increasing to $0.63 [1][5]. Financial Performance - The diluted earnings per share on an operating basis was $0.66, reflecting a 14% increase from the same quarter last year, primarily due to higher net interest income and lower provision for credit losses [2][5]. - Net income for the quarter was $78.7 million, with pre-tax, pre-provision income of $112.3 million, both showing improvements from the previous quarter [1][5]. - Total revenue for the quarter was $260 million, an increase of $13 million or 5% from the first quarter [5]. Key Ratios and Metrics - Return on assets was reported at 1.11%, with an operating return on assets of 1.16% [3][8]. - Return on common equity was 8.5%, while return on tangible common equity on an operating basis was 12.3% [3][8]. - The efficiency ratio improved to 56.7% on a GAAP basis and 54.8% on an operating basis [5][8]. Asset Quality - Net charge-offs were $8.2 million, or 0.18% of average loans, which is a decrease of 3 basis points from the first quarter [4][5]. - Nonperforming assets were 30 basis points relative to total assets, improving from 33 basis points in the previous quarter [4][5]. - The provision for credit losses was $11.8 million, down $3.6 million from the first quarter, maintaining an allowance for credit losses steady at 1.21% of loans [5][8]. Growth and Strategic Initiatives - The company successfully completed the acquisition of American National Bank on May 1, contributing to loan growth of $194 million, or 4.2% annualized, excluding loans from the acquisition [4][5]. - Tangible book value per share increased by $0.42 during the quarter [4]. - Customer deposits, excluding those from the acquisition, increased by $64 million or 1.3% annualized, despite a seasonal outflow of public funds [4][5].

Core Viewpoint - The market anticipates United Community Banks (UCB) will report a year-over-year increase in earnings driven by higher revenues for the quarter ended June 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - UCB is expected to post quarterly earnings of $0.62 per share, reflecting a year-over-year increase of +6.9% [3]. - Revenues are projected to reach $259.97 million, which is a 6% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.02% higher in the last 30 days, indicating a collective reassessment by analysts [4]. - The Most Accurate Estimate for UCB is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.21%, suggesting a bearish outlook from analysts [11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with positive readings being more reliable [6][7]. - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have historically shown a nearly 70% chance of delivering a positive surprise [8]. Historical Performance - In the last reported quarter, UCB exceeded the expected earnings of $0.56 per share by delivering $0.59, resulting in a surprise of +5.36% [12]. - Over the past four quarters, UCB has beaten consensus EPS estimates three times [13]. Conclusion - While UCB does not appear to be a strong candidate for an earnings beat based on current estimates, other factors should also be considered when evaluating the stock ahead of its earnings release [16].

Core Viewpoint - United Community Banks, Inc. is set to release its second quarter 2025 financial results on July 23, 2025, and will hold a conference call to discuss these results and the company's outlook [1][2]. Group 1: Financial Results Announcement - The financial results for the second quarter of 2025 will be released before the stock market opens on July 23, 2025 [1]. - A conference call is scheduled for 9:00 a.m. EST on the same day to discuss the financial results and business highlights [1]. Group 2: Conference Call Details - Participants can pre-register for the conference call via a provided link or by calling a designated phone number [2]. - The conference call will also be available via webcast on the company's Investor Relations website [2]. Group 3: Company Overview - United Community Banks, Inc. is a financial holding company with $27.9 billion in assets as of March 31, 2025, operating 200 offices across several states [3]. - The company has received multiple awards for customer satisfaction and workplace quality, including recognition from J.D. Power and American Banker [3]. - United Community offers a comprehensive range of banking, mortgage, and wealth management services, and has a nationally recognized SBA lending franchise [3].