Financial Performance - As of December 31, 2025, United Community Banks, Inc. had consolidated total assets of $28.0 billion[20] - Consolidated loans amounted to $19.4 billion, representing 69% of total consolidated assets as of December 31, 2025[28] - In 2025, the bank originated $1.02 billion in residential mortgage loans, with approximately 65% sold into the secondary market[31] - The acquisition of ANB in May 2025 included $301 million in loans and $374 million in deposits[27] - The Bank paid dividends to the Holding Company totaling $356 million in 2025, $153 million in 2024, and $198 million in 2023[73] - The Holding Company declared quarterly cash dividends of $0.98 per share in 2025, $0.94 in 2024, and $0.92 in 2023[73] Capital Management - The bank redeemed all outstanding shares of its Series I preferred stock, with a carrying value of $88.3 million, as part of its capital management strategy[27] - During 2025, the bank redeemed two series of senior debentures totaling $135 million, comprising all outstanding senior debt[27] - The Holding Company must maintain a CET1 capital conservation buffer of 2.5% to avoid restrictions on capital distributions[75] - The minimum capital requirements under Basel III include a CET1 capital ratio of 4.5% and a total capital ratio of 8.0%[83] - The Bank is permitted to pay dividends of up to 100% of its current year earnings without SCBFI approval, provided certain conditions are met[76] - The Holding Company is subject to regulatory requirements that restrict dividend payments if it cannot meet its debts as they become due[74] - The Bank's capital structure must be deemed adequate by the SCBFI based on its assessment of the Bank's businesses and risks[87] - As of December 31, 2025, the Bank qualified as "well-capitalized" under regulatory capital requirements, with Tier 1 capital at least 10% and CET1 capital at least 8%[89] Regulatory Compliance - The Bank changed its primary federal regulator from the FDIC to the Federal Reserve in 2024[70] - The Federal Reserve requires bank holding companies to pay dividends only out of current operating earnings[80] - The Bank is subject to various regulatory capital requirements administered by state and federal banking agencies[82] - The Bank received a "Satisfactory" rating in its most recent Community Reinvestment Act examination, which is critical for expansion plans[110] - The Volcker Rule prohibits banks from engaging in proprietary trading and limits investments in hedge funds and private equity funds[94] - The Bank is subject to regulations that cap interchange fees for debit card transactions at $0.21 plus five basis points, with potential adjustments for fraud prevention[100] - The Bank must submit a capital restoration plan if categorized as undercapitalized, and is prohibited from declaring dividends in such cases[90] - The company is subject to a challenging regulatory environment that restricts activities and may lead to operational penalties if compliance is not maintained[169] Operational and Market Risks - The bank faces intense competition from various financial service providers, including non-traditional disruptors, which could impact its market position[132] - The bank's operational risks include evolving fraud methods and the need for effective anti-fraud measures to mitigate losses[138] - The bank's ability to grow depends on maintaining a strong operational infrastructure and managing expenses effectively[139] - Legislative and regulatory changes could materially affect the bank's operations and financial condition[125] - The company faces interest rate risk, as net interest income is dependent on the difference between interest earned on loans and interest paid on deposits[155] - A decrease in demand for loans and services could result from economic conditions, leading to higher levels of non-performing assets and charge-offs[156] - The concentration of loans in primary markets such as Georgia, South Carolina, and Florida may expose the company to higher credit losses during economic downturns[164] - The company anticipates that regulatory changes could increase compliance costs and affect its ability to pursue certain business opportunities[169] Cybersecurity and Information Security - The company has implemented a comprehensive information security program to safeguard customer information, approved by its Board[115] - The company is required to notify regulators of cybersecurity incidents within 36 hours, highlighting the importance of robust cybersecurity measures[205] - The company has implemented a comprehensive cybersecurity risk management program based on globally recognized best practices, including the Center for Internet Security's Critical Security Controls and the NIST Cybersecurity Framework[210] - The Chief Information Security Officer (CISO) oversees the cybersecurity program and reports to the Chief Information Officer, with over 20 years of experience in IT operations/security roles in the financial services industry[218] - The company conducts regular assessments of third-party vendors to manage cybersecurity risks, including security requirements based on perceived risk levels[211] - Cybersecurity threats are expected to remain significant due to the evolving nature of threats and the increasing use of technology-based products and services by customers[209] - The company has not experienced any cybersecurity incidents that materially affected its business strategy or financial condition to date[216] - Regular tabletop exercises are conducted to validate response processes and improve cross-functional coordination within the organization[217] - The Risk Committee of the Board oversees cybersecurity risks, receiving updates on security testing, audits, and key cybersecurity metrics at quarterly meetings[219] - The company employs a layered defensive approach to manage cybersecurity controls, utilizing people, processes, and technology[210] - An ongoing enterprise-wide security awareness training program is in place to protect data, systems, and networks from cyber threats[210] - The company has established incident response protocols to manage and mitigate the effects of cybersecurity incidents[215] Economic and Financial Conditions - Inflationary pressures have been significant, impacting purchasing power and potentially leading to higher interest rates, which could adversely affect the company's financial condition[152] - Economic volatility may increase due to rising U.S. budget deficits, affecting demand for the company's products and services[153] - The company relies primarily on deposits, loan repayments, and cash flows from investment securities for liquidity, with secondary sources including FHLB advances and brokered deposits[179] - A downgrade in the company's credit rating could limit access to borrowings and increase borrowing costs, impacting overall financial performance[181] - Changes in accounting standards could negatively affect the company's reported earnings and financial condition, making it difficult to predict future impacts[186] - The company's stock price can be volatile, influenced by general market fluctuations and economic conditions, which may not reflect its operating results[196] - The company may need to issue additional equity securities, which could dilute current shareholders' ownership[201] - Natural disasters and climate change pose risks that could adversely affect the company's financial condition and results of operations[190]

Group 1 - United Community Banks, Inc. (UCB) is a small banking network operating in the Southeastern region of the United States [1] - The article highlights the expertise of Quad 7 Capital, a team of analysts with nearly 12 years of experience in identifying investment opportunities [1] - Quad 7 Capital has a proven track record, being 95% long and 5% short on average since May 2020, indicating a strong focus on market trends [1] Group 2 - The article emphasizes the benefits of BAD BEAT Investing, which include learning market dynamics, executing well-researched trade ideas, and access to extensive trading tools [1] - The focus is on teaching investors to become proficient traders through a structured approach, rather than just providing trades [1] - The company aims to save time for investors by offering in-depth research with clear entry and exit targets [1]

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Financial Performance - United Community Banks reported GAAP diluted earnings per share of $0.70 for 4Q25 and $2.62 for the full year[12, 19] - The operating diluted earnings per share were $0.71 for 4Q25 and $2.71 for the full year[12, 19] - The company's GAAP return on assets was 1.21% for 4Q25 and 1.17% for the full year[12, 19] - The operating return on assets was 1.22% for 4Q25 and 1.20% for the full year[14, 19] - Net interest margin was 3.62% for 4Q25, an increase of 36 bps year-over-year[12] Balance Sheet and Loan Portfolio - Total assets reached $28 billion[9] - Total deposits amounted to $23.8 billion[9] - Total loans reached $19.4 billion[9] - The loan portfolio grew by $209 million, or 4.4% annualized, from 3Q25[38] - Loans grew $1.2 billion or 6.6% from 4Q24[38]

Core Viewpoint - United Community Banks, Inc. (UCB) demonstrated strong financial performance in the fourth quarter, with significant increases in net income and earnings per share, indicating robust revenue growth and effective operational management [1]. Financial Performance - Fourth quarter net income rose to $86.5 million from $75.8 million year-over-year, reflecting a growth of approximately 14.3% [1] - Earnings per share increased to $0.70, up from $0.61, marking a growth of 14.8% [1] - On an operating basis, earnings per share was $0.71, which is a 13% increase compared to the previous year [1] - Total revenue for the fourth quarter reached $278.4 million, representing an 11% increase from the same period last year [1] Future Outlook - The CEO, Lynn Harton, expressed confidence in the company's positioning for continued success in 2026, citing strong economic conditions and effective execution across all business lines [2]

Financial Performance - Total revenue for Q4 2025 was $346.367 million, a 10% increase compared to Q4 2024's $353.850 million[7] - Net income for Q4 2025 was $78.733 million, reflecting a 30% increase from $71.413 million in Q4 2024[7] - Diluted net income per share increased by 13% to $0.70 from $0.63 in Q4 2024[7] - Net income for Q4 2025 was $86,455, compared to $75,804 in Q4 2024, reflecting a year-over-year increase of 8.7%[11] - Total revenue for the twelve months ended December 31, 2025, reached $1,063,152, an increase from $952,124 in 2024, marking an 11.7% growth[11] Income Sources - Net interest revenue increased by 13% year-over-year to $237.926 million from $233.629 million in Q4 2024[7] - Noninterest income rose to $154.045 million, up 12% from $141.099 million in Q4 2024[7] - Net interest revenue for Q4 2025 was $237,926, up from $210,333 in Q4 2024, indicating a 13.2% increase[11] - Total noninterest income for the twelve months ended December 31, 2025, was $154,045, compared to $124,756 in 2024, a growth of 23.5%[11] Loan and Asset Growth - Total loans reached $19.384 billion, an increase of $1.208 billion compared to $18.176 billion in Q4 2024[8] - Owner occupied commercial real estate loans increased by $174 million year-over-year to $3.852 billion[8] - Loans and leases held for investment increased to $19,384,317, up from $18,175,980 in the previous year, a growth of 6.6%[10] - Total assets increased to $28,002,554, up from $27,720,258 in the previous year, representing a growth of 1.02%[10] Efficiency and Profitability Metrics - The efficiency ratio improved to 54.40% from 56.69% in Q4 2024[7] - Return on common equity (GAAP) improved to 9.48% from 9.20% in Q4 2024[7] - The net interest-rate spread (FTE) improved to 2.88% in 2025 from 2.31% in 2024, suggesting better management of interest-earning assets and liabilities[12] - The efficiency ratio (GAAP) improved to 54.40% in the fourth quarter of 2024, compared to 60.24% in the fourth quarter of 2023, showing enhanced operational efficiency[15] Asset Quality - Nonperforming assets decreased to $93.498 million from $115.635 million in Q4 2024[7] - Total nonaccrual loans amounted to $91,098, a decrease from $96,443 in the previous quarter, showing a reduction of 5.4%[9] - Net charge-offs for Q4 2025 totaled $16,418, compared to $7,676 in Q3 2025, representing a significant increase of 113.5%[9] Deposits and Liabilities - Total deposits rose to $23,798,430, compared to $23,460,975 in the previous year, reflecting a 1.4% increase[10] - Total liabilities rose to $24,697,436 million in 2025, compared to $24,453,514 million in 2024, reflecting increased borrowing[12] - Total borrowed funds decreased to $138,480 million in 2025 from $307,382 million in 2024, with a focus on reducing reliance on external financing[12] Shareholder Value - Basic earnings per common share for Q4 2025 was $0.71, compared to $0.61 in Q4 2024, an increase of 16.4%[11] - Shareholders' equity increased to $3,619,642 million in 2025 from $3,401,306 million in 2024, indicating improved financial health[12] - The book value per common share (GAAP) increased to $30.17 as of December 31, 2024, from $28.89 in 2023, reflecting a growth of 4.4%[14]

Financial Performance - Net income for the three months ended September 30, 2025, was $91,494 thousand, representing a significant increase of 93.5% compared to $47,347 thousand in the prior year[14]. - Net income for the nine months ended September 30, 2025, was $241,640,000, an increase from $176,593,000 in the same period of 2024, representing a growth of approximately 36.8%[19]. - The company reported a basic net income per common share of $0.71 for the three months ended September 30, 2025, compared to $0.38 in the prior year, marking an increase of 86.8%[14]. - For Q3 2025, net income was $91.5 million, with diluted earnings per share of $0.70, compared to $47.3 million and $0.38 in Q3 2024, representing an increase of 93% in net income[151]. - For the nine months ended September 30, 2025, net income was $242 million, up from $177 million in the same period of 2024, with diluted earnings per share increasing from $1.43 to $1.91[151]. Revenue and Income Sources - Net interest revenue for the three months ended September 30, 2025, was $233,629 thousand, up 11.7% from $209,186 thousand in the same period of 2024[14]. - Noninterest income for the nine months ended September 30, 2025, totaled $113,583 thousand, a 34.9% increase from $84,234 thousand in the same period of 2024[14]. - Noninterest income for Q3 2025 was $43.2 million, an increase of $35.1 million compared to the same period in 2024, largely due to favorable fair value adjustments[156]. - Total revenue rose by 27% year-over-year to $276,848 thousand in Q3 2025, up from $217,277 thousand in Q3 2024[161]. - Noninterest income surged by 435% year-over-year to $43,219 thousand in Q3 2025, compared to $8,091 thousand in Q3 2024[161]. Assets and Liabilities - Total assets increased to $28,143,473 thousand as of September 30, 2025, compared to $27,720,258 thousand at December 31, 2024, reflecting a growth of 1.5%[12]. - Total liabilities increased to $24,546,622 thousand as of September 30, 2025, from $24,288,131 thousand at December 31, 2024, reflecting a growth of 1.1%[12]. - The company’s retained earnings rose to $858,395 thousand as of September 30, 2025, compared to $714,138 thousand at December 31, 2024, an increase of 20.2%[12]. - The carrying value of loans held for investment as of September 30, 2025, was $18,399,997,000, an increase from $17,325,630,000 on December 31, 2024[131]. - As of September 30, 2025, total investment securities decreased to $6.16 billion from $6.80 billion, a decline of $641 million[199]. Credit Quality and Losses - The provision for credit losses decreased to $7,907 thousand for the three months ended September 30, 2025, down from $14,428 thousand in the same period of 2024, indicating improved credit quality[14]. - The company reported a provision for credit losses of $35,144,000 for the nine months ended September 30, 2025, down from $39,562,000 in 2024, indicating a decrease of 11.4%[19]. - The total Allowance for Credit Losses (ACL) for loans was $215,791,000, reflecting a decrease of $12,854,000 from the previous period[88]. - The net charge-offs for the three months ended September 30, 2025, totaled $7.68 million, compared to $23.65 million for the same period in 2024[193]. - Nonperforming Assets (NPAs) decreased to $97.92 million as of September 30, 2025, from $115.64 million at December 31, 2024, with nonaccrual loans as a percentage of total loans at 0.50%[196]. Acquisition and Market Presence - The company completed the acquisition of ANB on May 1, 2025, which is expected to enhance its market presence in Oakland Park, Florida[26]. - The acquisition of ANB resulted in actual revenue of $4.365 million and net income of $2.208 million for the three months ended September 30, 2025, with pro forma revenue of $275.888 million and net income of $93.064 million if the acquisition had occurred on January 1, 2024[32]. - The company reported net cash provided by operating activities of $318,563,000 for the nine months ended September 30, 2025, compared to $201,642,000 for the same period in 2024, indicating a significant increase of 57.9%[19]. Capital and Shareholder Returns - As of September 30, 2025, the CET1 capital ratio was 13.44%, well above the minimum requirement of 4.5%[138]. - Total capital as of September 30, 2025, was $3,073,175,000, compared to $2,982,273,000 on December 31, 2024, showing an increase of 3%[138]. - The company redeemed all outstanding shares of its 6.875% Series I non-cumulative perpetual preferred stock on September 15, 2025, for a cash payment of $91.5 million[140]. - Cash dividends declared rose to $0.25 per share in Q3 2025, up from $0.24 per share in Q3 2024[161]. Market and Economic Conditions - The corporate tax rate was made permanent at 21% with the enactment of the One Big Beautiful Bill Act on July 4, 2025, impacting future financial planning[149]. - The federal funds rate cuts of 125 basis points beginning in September 2024 contributed to the improvement in net interest spread and margin[164]. - The baseline economic forecast has worsened slightly, impacting the expected default rates, but the decrease in net charge-offs contributed to a lower modeled ACL balance[84].

Group 1 - The article does not provide any specific content related to a company or industry, as it appears to be a technical issue regarding browser settings and ad-blockers [1]

Financial Highlights - United Community Bank reported diluted earnings per share (EPS) of $0.70 (GAAP) and $0.75 (operating) in 3Q25[12] - The bank's return on assets (ROA) was 1.29% (GAAP) and 1.33% (operating) in 3Q25[12, 14] - The net interest margin (NIM) increased by 8 bps to 3.58% in 3Q25[12, 44] - Tangible book value (TBV) per share increased to $21.59, a 10% year-over-year improvement[12] Balance Sheet - Total assets reached $28.1 billion, with total deposits at $24.0 billion and total loans at $19.2 billion[10] - Customer deposits grew by $58 million from 2Q25, or 10% annualized[24] - Loan growth was $254 million, or 54% annualized[30] - The bank's CET1 RBC ratio stood at 134%[10, 41] Income Statement - Noninterest income increased to $432 million[47] - The operating efficiency ratio improved to 531%, driven by higher revenue growth[14, 55] Credit Quality - Net charge-offs were $77 million, representing 016% of average loans[60] - The allowance for credit losses (ACL) stood at $228276 million, with an ACL to loans ratio of 119%[61]

[Third Quarter 2025 Earnings Overview](index=1&type=section&id=1.%20Third%20Quarter%202025%20Earnings%20Overview) United Community Banks, Inc. reported strong Q3 2025 results, showcasing significant growth in net income and diluted EPS, alongside robust loan and deposit expansion and improved credit quality [Executive Summary](index=1&type=section&id=1.1%20Executive%20Summary) United Community Banks, Inc. reported strong Q3 2025 results with net income of $91.5 million and diluted EPS of $0.70, driven by loan growth, margin expansion, and improved credit quality Q3 2025 Key Financial Highlights | Metric | Q3 2025 (GAAP) | Q3 2025 (Operating) | Q3 2024 (GAAP) | Q3 2024 (Operating) | | :-------------------------------- | :------------- | :------------------ | :------------- | :------------------ | | Net Income | $91.5 million | $94.2 million | $47.3 million | $70.5 million | | Diluted EPS | $0.70 | $0.75 | $0.38 | $0.57 | | Return on Assets (ROA) | 1.29% | 1.33% | 0.67% | 1.01% | | Return on Common Equity (ROE) | 9.2% | 9.83% | 5.20% | 7.82% | | Return on Tangible Common Equity (ROTCE) | N/A | 13.6% | N/A | 11.17% | | Pre-tax, Pre-provision Income | $126.0 million | N/A | N/A | N/A | - Diluted EPS of **$0.70** for Q3 2025 increased by **$0.32** from Q3 2024 and by **$0.07** from Q2 2025. Operating diluted EPS of **$0.75** was up **32%** year-over-year[1](index=1&type=chunk)[2](index=2&type=chunk) - Tangible book value per share grew by **$0.59** from Q2 2025, representing an **11% annualized rate**[4](index=4&type=chunk) - Loans grew by **$254 million**, or **5.4% annualized**, while customer deposits (excluding seasonal public funds outflow) were up **$137 million** or **2.6% annualized**[4](index=4&type=chunk) - Net charge-offs were **$7.7 million** or **0.16% annualized** of average loans, down **two basis points** from Q2 2025[4](index=4&type=chunk) - Nonperforming assets were **0.35%** of total assets, a slight increase from **0.30%** for Q2 2025[4](index=4&type=chunk) - Provision for credit losses improved by **$3.9 million** from Q2 2025, with allowance for credit losses at **1.19%** of loans as of September 30, slightly down from **1.21%** at June 30[5](index=5&type=chunk) [Third Quarter 2025 Financial Highlights](index=2&type=section&id=1.2%20Third%20Quarter%202025%20Financial%20Highlights) Q3 2025 financial highlights include significant increases in EPS, total revenue, and net interest margin, alongside improved credit quality and capital ratios Q3 2025 Key Financial Metrics and Changes | Metric | Q3 2025 Value | QoQ Change (vs Q2 2025) | YoY Change (vs Q3 2024) | | :------------------------------------ | :-------------- | :------------------------ | :------------------------ | | EPS (GAAP) | $0.70 | Up $0.07 | Up $0.32 | | EPS (Operating) | $0.75 | Up $0.09 (14%) | Up $0.18 (32%) | | Net Income | $91.5 million | Up $12.8 million | N/A | | Pre-tax, Pre-provision Income | $126.0 million | Up $13.7 million | N/A | | Total Revenue | $276.8 million | Up $16.6 million (6%) | N/A | | Net Interest Margin | 3.58% | Up 8 basis points | N/A | | Noninterest Income | N/A | Up $8.5 million | N/A | | Provision for Credit Losses | $7.9 million | Down $3.9 million | N/A | | Net Charge-offs (annualized) | 0.16% | Improved 2 basis points | N/A | | Noninterest Expenses (GAAP) | N/A | Up $2.9 million | N/A | | Efficiency Ratio (Operating) | 53.1% | Improved | Improved | | Loan Growth (annualized) | 5.4% | N/A | N/A | | Mortgage Closings | $283 million | N/A | Up from $239 million | | Mortgage Rate Locks | $388 million | N/A | Up from $306 million | | Customer Deposits (excl. public funds) | N/A | Up $137 million | N/A | | Common Equity Tier 1 (preliminary) | 13.4% | N/A | N/A | | Quarterly Common Dividend | $0.25 per share | N/A | Up 4% | | Preferred Stock Redeemed | $88.3 million | N/A | N/A | - Net interest margin increased due to a lower cost of funds and improving asset mix[8](index=8&type=chunk) - Noninterest income growth was mostly due to gains on other investments, death benefit claims on bank owned life insurance, and a favorable mark on mortgage servicing rights asset[8](index=8&type=chunk) - Noninterest expenses increased primarily driven by performance-based incentives[8](index=8&type=chunk) [Selected Financial Information](index=3&type=section&id=2.%20Selected%20Financial%20Information) This section provides a comprehensive overview of the company's income, performance measures, and asset quality metrics for various periods [Income Summary](index=3&type=section&id=2.1%20Income%20Summary) The income summary details interest revenue, expenses, and net income for various periods, highlighting significant year-over-year improvements Income Summary (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :----------------------- | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Interest revenue | $353,850 | $347,365 | $335,357 | $349,086 | $344,962 | $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 | $671,181 | $617,035 | | Noninterest income | $43,219 | $34,708 | $35,656 | $40,522 | $8,091 | $113,583 | $84,234 | | Total revenue | $276,848 | $260,239 | $247,677 | $250,855 | $217,277 | $784,764 | $701,269 | | 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 | $439,886 | $435,111 | | Income before income tax | $118,073 | $100,502 | $96,410 | $91,159 | $59,784 | $309,734 | $226,596 | | Income tax expense | $26,579 | $21,769 | $19,746 | $20,606 | $12,437 | $68,094 | $50,003 | | Net income | $91,494 | $78,733 | $71,413 | $75,804 | $47,347 | $241,640 | $176,593 | [Performance Measures](index=3&type=section&id=2.2%20Performance%20Measures) Key performance ratios, including EPS, book value, and return metrics, show consistent improvements across most indicators for the reported periods Key Performance Ratios | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Diluted net income - GAAP | $0.70 | $0.63 | $0.58 | $0.61 | $0.38 | $1.91 | $1.43 | | Diluted net income - operating | $0.75 | $0.66 | $0.59 | $0.63 | $0.57 | $2.00 | $1.67 | | Cash dividends declared | $0.25 | $0.24 | $0.24 | $0.24 | $0.24 | $0.73 | $0.70 | | Book value | $29.44 | $28.89 | $28.42 | $27.87 | $27.68 | $29.44 | $27.68 | | Tangible book value | $21.59 | $21.00 | $20.58 | $20.00 | $19.66 | $21.59 | $19.66 | | Return on common equity - GAAP | 9.20% | 8.45% | 7.89% | 8.40% | 5.20% | 8.53% | 6.61% | | Return on common equity - operating | 9.83% | 8.87% | 8.01% | 8.60% | 7.82% | 8.92% | 7.76% | | Return on tangible common equity - operating | 13.56% | 12.34% | 11.21% | 12.12% | 11.17% | 12.57% | 11.18% | | Return on assets - GAAP | 1.29% | 1.11% | 1.02% | 1.06% | 0.67% | 1.16% | 0.85% | | Return on assets - operating | 1.33% | 1.16% | 1.04% | 1.08% | 1.01% | 1.19% | 0.99% | | Net interest margin (FTE) | 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 | 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 | 9.71% | 9.45% | 9.18% | 8.97% | 8.93% | 9.71% | 8.93% | [Asset Quality](index=3&type=section&id=2.3%20Asset%20Quality) Key asset quality indicators, including nonperforming assets and net charge-offs, show a quarter-over-quarter increase in NPAs but an improved net charge-off ratio Asset Quality Metrics (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | | Nonperforming assets ("NPAs") | $97,916 | $83,959 | $93,290 | $97,916 | $114,960 | | Allowance for credit losses - loans | $215,791 | $216,500 | $211,974 | $206,998 | $205,290 | | Allowance for credit losses - total | $228,045 | $217,389 | $215,517 | $228,276 | $215,517 | | Net charge-offs | $7,676 | $8,225 | $9,607 | $9,517 | $8,225 | | Allowance for credit losses - loans to loans | 1.19% | 1.21% | 1.20% | 1.14% | 1.14% | | Allowance for credit losses - total to loans | 1.19% | 1.21% | 1.20% | 1.14% | 1.14% | | Net charge-offs to average loans (annualized) | 0.16% | 0.18% | 0.21% | 0.18% | 0.21% | | NPAs to total assets | 0.35% | 0.30% | 0.33% | 0.35% | 0.42% | [Non-GAAP Performance Measures Reconciliation](index=4&type=section&id=3.%20Non-GAAP%20Performance%20Measures%20Reconciliation) This section provides detailed reconciliations of GAAP financial measures to non-GAAP operating measures, adjusting for non-recurring items to present core performance [Noninterest Income Reconciliation](index=4&type=section&id=3.1%20Noninterest%20Income%20Reconciliation) This section reconciles GAAP noninterest income to operating noninterest income by adjusting for non-recurring items such as gains on lease termination and FDIC special assessments Noninterest Income Reconciliation (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :-------------------------- | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Noninterest income (GAAP) | $43,219 | $34,708 | $35,656 | $40,522 | $8,091 | $113,583 | $84,234 | | Gain on lease termination | - | - | - | - | - | - | $(2,400) | | FDIC special assessment | - | - | - | - | - | - | $(1,736) | | Noninterest income - operating | $43,219 | $34,708 | $35,656 | $40,522 | $35,300 | $113,583 | $109,043 | [Noninterest Expense Reconciliation](index=4&type=section&id=3.2%20Noninterest%20Expense%20Reconciliation) This section reconciles GAAP noninterest expense to operating noninterest expense by excluding merger-related and other charges, as well as losses from asset sales and FDIC special assessments Noninterest Expense Reconciliation (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Noninterest expense (GAAP) | $150,868 | $147,919 | $141,099 | $143,056 | $143,065 | $439,886 | $435,111 | | Loss on sale of manufactured housing loans | - | - | - | - | $(27,209) | - | $(27,209) | | Loss on sale of FinTrust, including goodwill impairment | - | - | - | $(5,100) | - | - | $(5,100) | | FDIC special assessment | - | - | - | - | $(1,736) | - | $(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](index=4&type=section&id=3.3%20Net%20Income%20to%20Operating%20Income%20Reconciliation) This section reconciles GAAP net income to operating net income by adjusting for non-operating items such as losses on asset sales, gains on lease terminations, FDIC special assessments, and merger-related charges Net Income to Operating Income Reconciliation (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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](index=4&type=section&id=3.4%20Net%20Income%20to%20Pre-tax%20Pre-provision%20Income%20Reconciliation) This section reconciles GAAP net income to pre-tax pre-provision income by adding back income tax expense and provision for credit losses, providing a view of profitability before these items Net Income to Pre-tax Pre-provision Income Reconciliation (in thousands) | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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](index=4&type=section&id=3.5%20Diluted%20Income%20Per%20Common%20Share%20Reconciliation) This section reconciles GAAP diluted income per common share to operating diluted income per common share by adjusting for non-operating items, providing a clearer view of per-share earnings from core operations Diluted Income Per Common Share Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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 | - | - | - | - | - | - | $(0.01) | | 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](index=4&type=section&id=3.6%20Book%20Value%20Per%20Common%20Share%20Reconciliation) This section provides the reconciliation of GAAP book value per common share to tangible book value per common share, adjusting for goodwill and other intangible assets Book Value Per Common Share Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Book value per common share (GAAP) | $29.44 | $28.89 | $28.42 | $27.87 | $27.68 | $29.44 | $27.68 | | Tangible book value per common share | $21.59 | $21.00 | $20.58 | $20.00 | $19.66 | $21.59 | $19.66 | [Return on Common Equity Reconciliation](index=4&type=section&id=3.7%20Return%20on%20Common%20Equity%20Reconciliation) This section reconciles GAAP return on common equity to operating return on common equity by adjusting for non-operating items, providing a clearer measure of profitability from core operations relative to common equity Return on Common Equity Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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% | [Return on Tangible Common Equity Reconciliation](index=4&type=section&id=3.8%20Return%20on%20Tangible%20Common%20Equity%20Reconciliation) This section reconciles operating return on common equity to operating return on tangible common equity by adjusting for the effect of goodwill and other intangibles, providing a more precise measure of profitability relative to tangible common equity Return on Tangible Common Equity Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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](index=4&type=section&id=3.9%20Return%20on%20Assets%20Reconciliation) This section reconciles GAAP return on assets to operating return on assets by adjusting for non-operating items such as losses on asset sales, FDIC special assessments, and merger-related charges, providing a clearer measure of asset utilization efficiency from core operations Return on Assets Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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 | - | - | - | - | - | - | (0.02)% | | Loss on sale of FinTrust, including goodwill impairment | - | - | - | - | - | - | 0.02% | | FDIC special assessment | - | - | - | - | - | - | 0.01% | | Merger-related and other charges | 0.05% | 0.04% | 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](index=5&type=section&id=3.10%20Return%20on%20Assets%20to%20Return%20on%20Assets%20-%20Pre-tax%20Pre-provision%20Reconciliation) This section reconciles GAAP return on assets to pre-tax pre-provision operating return on assets by adding back income tax expense, provision for credit losses, and adjusting for non-operating items, providing a measure of core operating profitability before taxes and credit provisions Return on Assets to Return on Assets - Pre-tax Pre-provision Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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](index=5&type=section&id=3.11%20Efficiency%20Ratio%20Reconciliation) This section reconciles GAAP efficiency ratio to operating efficiency ratio by adjusting for non-operating items, providing a clearer measure of operational efficiency from core activities Efficiency Ratio Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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](index=5&type=section&id=3.12%20Tangible%20Common%20Equity%20to%20Tangible%20Assets%20Reconciliation) This section reconciles GAAP equity to total assets to tangible common equity to tangible assets by adjusting for goodwill and other intangibles, and the effect of preferred equity, providing a more conservative measure of capital strength Tangible Common Equity to Tangible Assets Reconciliation | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :-------- | :-------- | :-------- | :--------- | :--------- | | 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% | [Loan Portfolio and Credit Quality](index=6&type=section&id=4.%20Loan%20Portfolio%20and%20Credit%20Quality) This section analyzes the company's loan portfolio composition and key credit quality metrics, including nonaccrual loans and net charge-offs [Loan Portfolio Composition at Period-End](index=6&type=section&id=4.1%20Loan%20Portfolio%20Composition%20at%20Period-End) The loan portfolio shows continued growth, primarily driven by commercial loans and home equity, with notable expansion in Florida and South Carolina markets Loan Portfolio Composition (in millions) | Loan Category | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | | :-------------------------- | :-------- | :-------- | :-------- | :-------- | :-------- | | Owner occupied commercial RE | $3,678 | $3,563 | $3,419 | $3,398 | $3,323 | | Income producing commercial RE | $4,534 | $4,548 | $4,416 | $4,361 | $4,259 | | Commercial & industrial | $2,593 | $2,516 | $2,506 | $2,428 | $2,313 | | Commercial construction | $1,734 | $1,752 | $1,681 | $1,656 | $1,785 | | Equipment financing | $1,808 | $1,778 | $1,723 | $1,663 | $1,603 | | **Total commercial** | **$14,347** | **$14,157** | **$13,745** | **$13,506** | **$13,283** | | Residential mortgage | $3,198 | $3,210 | $3,218 | $3,232 | $3,263 | | Home equity | $1,252 | $1,180 | $1,099 | $1,065 | $1,015 | | Residential construction | $178 | $174 | $171 | $178 | $189 | | Manufactured housing (1) | - | - | - | $2 | $2 | | Consumer | $192 | $191 | $183 | $186 | $188 | | Other | $8 | $9 | $9 | $7 | $24 | | **Total loans** | **$19,175** | **$18,921** | **$18,425** | **$18,176** | **$17,964** | Loan Growth by Market (in millions) | Market | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | | :-------------------------- | :-------- | :-------- | :-------- | :-------- | :-------- | | Georgia | $4,584 | $4,551 | $4,484 | $4,447 | $4,470 | | South Carolina | $2,926 | $2,872 | $2,821 | $2,815 | $2,782 | | North Carolina | $2,676 | $2,626 | $2,666 | $2,644 | $2,586 | | Tennessee | $1,902 | $1,881 | $1,880 | $1,799 | $1,848 | | Florida | $3,040 | $2,966 | $2,572 | $2,527 | $2,423 | | Alabama | $1,054 | $1,016 | $1,009 | N/A | N/A | | Commercial Banking Solutions | $2,993 | $3,009 | $2,993 | $2,948 | $2,859 | | **Total loans** | **$19,175** | **$18,921** | **$18,425** | **$18,176** | **$17,964** | [Credit Quality Metrics](index=7&type=section&id=4.2%20Credit%20Quality%20Metrics) Nonaccrual loans increased quarter-over-quarter, particularly in commercial and residential mortgage categories, while net charge-offs decreased Nonaccrual Loans and NPAs (in thousands) | Category | Q3 2025 | Q2 2025 | Q1 2025 | | :-------------------------- | :-------- | :-------- | :-------- | | 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** | Net Charge-Offs (Recoveries) by Category (in thousands) | Category | Q3 2025 Net Charge-Offs | Q3 2025 NCOs to Avg Loans (1) | Q2 2025 Net Charge-Offs | Q2 2025 NCOs to Avg Loans (1) | Q1 2025 Net Charge-Offs | Q1 2025 NCOs to Avg Loans (1) | | :-------------------------- | :---------------------- | :---------------------------- | :---------------------- | :---------------------------- | :---------------------- | :---------------------------- | | Owner occupied RE | $2,497 | 0.28% | $470 | 0.05% | $126 | 0.02% | | Income producing RE | $(106) | (0.01)% | $270 | 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 | $(250) | (0.03)% | $313 | 0.04% | $(1) | - | | Home equity | $80 | 0.01% | $(72) | (0.03)% | $(62) | (0.02)% | | Residential construction | $12 | 0.03% | $(8) | (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 [Consolidated Financial Statements (Unaudited)](index=8&type=section&id=5.%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated balance sheets and statements of income, along with a detailed net interest analysis [Consolidated Balance Sheets](index=8&type=section&id=5.1%20Consolidated%20Balance%20Sheets) The balance sheet shows increased total assets, driven by loan and deposit growth, and strengthened common shareholders' equity through preferred stock redemption Consolidated Balance Sheets (in thousands) | Asset/Liability/Equity | Sep 30, 2025 | Dec 31, 2024 | Change | | :------------------------------------ | :----------- | :----------- | :----- | | Cash and cash equivalents | $613,431 | $519,873 | Up $93,558 | | Debt securities available-for-sale | $3,889,263 | $4,436,291 | Down $547,028 | | Debt securities held-to-maturity | $2,274,099 | $2,368,107 | Down $94,008 | | Loans and leases held for investment | $19,174,794 | $18,175,980 | Up $998,814 | | Loans and leases, net | $18,959,003 | $17,968,982 | Up $990,021 | | Goodwill and other intangible assets, net | $971,071 | $956,643 | Up $14,428 | | **Total assets** | **$28,143,473** | **$27,720,258** | **Up $423,215** | | Noninterest-bearing demand deposits | $6,444,067 | $6,211,182 | Up $232,885 | | NOW and interest-bearing demand deposits | $5,860,653 | $6,141,342 | Down $280,689 | | Money market deposits | $6,801,387 | $6,398,144 | Up $403,243 | | Savings deposits | $1,085,237 | $1,100,591 | Down $15,354 | | Time deposits | $3,673,718 | $3,441,424 | Up $232,294 | | Brokered deposits | $155,556 | $168,292 | Down $12,736 | | **Total deposits** | **$24,020,618** | **$23,460,975** | **Up $559,643** | | Short-term borrowings | - | $195,000 | Down $195,000 | | Long-term debt | $155,251 | $254,152 | Down $98,901 | | **Total liabilities** | **$24,546,622** | **$24,288,131** | **Up $258,491** | | Preferred stock | - | $88,266 | Down $88,266 | | Common stock | $121,553 | $119,364 | Up $2,189 | | Retained earnings | $858,395 | $714,138 | Up $144,257 | | Accumulated other comprehensive loss | $(163,923) | $(212,919) | Up $48,996 | | **Total shareholders' equity** | **$3,596,851** | **$3,432,127** | **Up $164,724** | [Consolidated Statements of Income](index=9&type=section&id=5.2%20Consolidated%20Statements%20of%20Income) The income statement reflects strong year-over-year growth in net interest revenue and noninterest income, leading to significant increases in total revenue and net income Consolidated Statements of Income (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :-------- | :-------- | :--------- | :--------- | | Total interest revenue | $353,850 | $349,086 | $1,036,572 | $1,032,779 | | Total interest expense | $120,221 | $139,900 | $365,391 | $415,744 | | **Net interest revenue** | **$233,629** | **$209,186** | **$671,181** | **$617,035** | | 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 | | 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 | $888 | | **Net income available to common shareholders** | **$86,139** | **$45,502** | **$232,290** | **$170,886** | | Basic EPS | $0.71 | $0.38 | $1.92 | $1.43 | | Diluted EPS | $0.70 | $0.38 | $1.91 | $1.43 | [Average Consolidated Balance Sheets and Net Interest Analysis](index=10&type=section&id=5.3%20Average%20Consolidated%20Balance%20Sheets%20and%20Net%20Interest%20Analysis) Net interest analysis highlights improved net interest margin and spread for the quarter and year-to-date, driven by lower interest-bearing liability costs Net Interest Analysis (Q3 2025 vs Q3 2024, in thousands, FTE) | Metric | Q3 2025 Average Balance | Q3 2025 Interest | Q3 2025 Average Rate | Q3 2024 Average Balance | Q3 2024 Interest | Q3 2024 Average Rate | | :------------------------------------ | :---------------------- | :--------------- | :------------------- | :---------------------- | :--------------- | :------------------- | | Total interest-earning assets | $25,993,562 | $354,885 | 5.42% | $25,101,056 | $350,180 | 5.55% | | Total interest-bearing liabilities | $17,705,582 | $120,221 | 2.69% | $17,108,872 | $139,900 | 3.25% | | Net interest revenue (FTE) | N/A | $234,664 | N/A | N/A | $210,280 | N/A | | Net interest-rate spread (FTE) | N/A | N/A | 2.73% | N/A | N/A | 2.30% | | Net interest margin (FTE) | N/A | N/A | 3.58% | N/A | N/A | 3.33% | Net Interest Analysis (YTD 2025 vs YTD 2024, in thousands, FTE) | Metric | YTD 2025 Average Balance | YTD 2025 Interest | YTD 2025 Average Rate | YTD 2024 Average Balance | YTD 2024 Interest | YTD 2024 Average Rate | | :------------------------------------ | :--------------------- | :--------------- | :------------------- | :--------------------- | :--------------- | :------------------- | | Total interest-earning assets | $25,889,263 | $1,039,581 | 5.37% | $25,099,636 | $1,035,997 | 5.51% | | Total interest-bearing liabilities | $17,703,774 | $365,391 | 2.76% | $17,078,303 | $415,744 | 3.25% | | Net interest revenue (FTE) | N/A | $674,190 | N/A | N/A | $620,253 | N/A | | Net interest-rate spread (FTE) | N/A | N/A | 2.61% | N/A | N/A | 2.26% | | Net interest margin (FTE) | N/A | N/A | 3.48% | N/A | N/A | 3.30% | - The FTE adjustment for interest revenue on tax-exempt securities and loans totaled **$1.04 million** for Q3 2025 and **$3.01 million** for YTD 2025, using a **25% tax rate**[16](index=16&type=chunk)[19](index=19&type=chunk) [Company Information and Disclosures](index=2&type=section&id=6.%20Company%20Information%20and%20Disclosures) This section provides details on the company's conference call, corporate profile, non-GAAP financial measures, and forward-looking statement cautions [Conference Call Information](index=2&type=section&id=6.1%20Conference%20Call%20Information) United Community Banks, Inc. scheduled a conference call for October 22 at 9:00 a.m. ET to discuss the earnings release and business highlights, with options for pre-registration, dial-in, and webcast access - Conference call to discuss Q3 2025 earnings and business highlights was scheduled for **Wednesday, October 22 at 9:00 a.m. ET**[7](index=7&type=chunk) - Participants could pre-register online or dial in by calling **1-844-676-1337**. A webcast was also available on the company's website, ucbi.com[7](index=7&type=chunk) [About United Community Banks, Inc.](index=12&type=section&id=6.2%20About%20United%20Community%20Banks,%20Inc.) United Community Banks, Inc. is a top 100 U.S. financial institution with $28.1 billion in assets, operating 199 offices across six Southeastern states - United Community Banks, Inc. (NYSE: UCB) is a **top 100 U.S. financial institution**[21](index=21&type=chunk) - As of September 30, 2025, the company had **$28.1 billion in assets** and operated **199 offices** across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee[21](index=21&type=chunk) - The company offers banking, mortgage, and wealth management services, and manages a nationally recognized SBA lending franchise and a national equipment finance subsidiary[21](index=21&type=chunk) - United Community is an **11-time winner** of J.D. Power's award for highest customer satisfaction in the Southeast and was named the **most trusted bank in the region in 2025**[21](index=21&type=chunk) [Non-GAAP Financial Measures (Explanation)](index=12&type=section&id=6.3%20Non-GAAP%20Financial%20Measures%20(Explanation)) This section clarifies non-GAAP financial measures provide supplemental information for evaluating underlying performance trends by excluding non-recurring items - The press release contains financial information determined by methods other than in accordance with GAAP, referred to as **non-GAAP measures**[22](index=22&type=chunk) - These non-GAAP measures exclude merger-related and other charges not considered part of recurring operations, aiming to provide useful supplemental information for evaluating underlying performance trends[22](index=22&type=chunk) - Examples of non-GAAP measures include 'operating net income,' 'tangible book value per common share,' and 'operating efficiency ratio'[22](index=22&type=chunk) - These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and may not be comparable to non-GAAP measures presented by other companies[22](index=22&type=chunk) [Caution About Forward-Looking Statements](index=13&type=section&id=6.4%20Caution%20About%20Forward-Looking%20Statements) This section warns that forward-looking statements are subject to numerous assumptions, risks, and uncertainties, and actual results may differ materially - The press release contains 'forward-looking statements' identifiable by words such as 'may,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'will,' 'should,' 'plan,' 'estimate,' 'continue,' and 'potential'[23](index=23&type=chunk) - Forward-looking statements are not historical facts and represent management's beliefs, but are not guarantees of future performance; actual results may differ materially[23](index=23&type=chunk) - These statements are subject to numerous assumptions, risks, and uncertainties, including general competitive, economic, political, regulatory, and market conditions[23](index=23&type=chunk)[24](index=24&type=chunk) - Shareholders and investors should not place undue reliance on forward-looking statements, and United undertakes no obligation to update or revise them, except as required by law[26](index=26&type=chunk)