Executive Summary & Third Quarter 2025 Performance Overview of Third Quarter 2025 Results United Community Banks, Inc. reported strong third-quarter 2025 earnings, driven by significant loan growth and margin expansion | Metric | Q3 2025 (GAAP) | Q3 2025 (Operating) | Change from Q3 2024 (GAAP) | Change from Q3 2024 (Operating) | Change from Q2 2025 (GAAP) | Change from Q2 2025 (Operating) | | :-------------------------------- | :---------------- | :-------------------- | :----------------------------- | :------------------------------- | :--------------------------- | :----------------------------- | | Net Income | $91.5 million | - | - | - | Up $12.8 million | - | | Pre-tax, Pre-provision Income | $126.0 million | - | - | - | Up $13.7 million | - | | Diluted EPS | $0.70 | $0.75 | Up $0.32 | Up 32% | Up $0.07 | Up 14% | | Return on Assets | 1.29% | 1.33% | Up from 0.67% | Up from 1.01% | - | - | | Return on Common Equity | 9.2% | - | - | - | Improved | - | | Return on Tangible Common Equity | - | 13.6% | - | - | Improved | - | | Tangible Common Equity to Tangible Assets | 9.71% | - | - | - | Up 26 bps | - | - Strong 27% year-over-year revenue growth contributed to the improved financial performance2 CEO's Statement Chairman and CEO Lynn Harton expressed pride in the third-quarter financial results, highlighting solid loan and deposit growth, healthy margin expansion, and improved return metrics - Loans grew by $254 million, or 5.4% annualized, from the second quarter4 - Customer deposits, excluding seasonal public funds outflow, increased by $137 million, or 2.6% annualized4 - Non-interest bearing deposits, excluding public funds, grew at an annualized rate of 4.7%4 - Net charge-offs were $7.7 million or 0.16% annualized of average loans, down two basis points from the second quarter4 - Nonperforming assets were 0.35% of total assets, up slightly from 0.30% for the second quarter4 Key Financial Highlights The third quarter saw total revenue increase by 6% from the second quarter, reaching $276.8 million, driven by an improved net interest margin of 3.58% and higher noninterest income | Metric | Q3 2025 | Change from Q2 2025 | | :-------------------------------- | :---------------- | :------------------ | | Total Revenue | $276.8 million | Up $16.6 million (6%) | | Net Interest Margin | 3.58% | Increased 8 bps | | Noninterest Income | - | Up $8.5 million | | Provision for Credit Losses | $7.9 million | Down $3.9 million | | Allowance for Credit Losses Coverage | 1.19% of total loans | Down slightly | | Net Charge-offs | $7.7 million (0.16% annualized) | Improved 2 bps | | Noninterest Expenses (GAAP) | - | Up $2.9 million | | Noninterest Expenses (Operating) | - | Up $4.3 million | | Efficiency Ratio (GAAP) | 54.3% | Improved | | Efficiency Ratio (Operating) | 53.1% | Improved | | Loan Growth | $254 million (5.4% annualized) | - | | Mortgage Closings | $283 million | Up from $239 million (Q3 2024) | | Mortgage Rate Locks | $388 million | Up from $306 million (Q3 2024) | | Customer Deposits (excluding public funds) | Up $137 million | - | | Noninterest-bearing Demand Deposits | Up $73 million | - | | Common Dividend | $0.25 per share | Up 4% YoY | | Common Equity Tier 1 | 13.4% | Maintained strong | | Preferred Stock Redeemed | $88.3 million | All outstanding preferred shares | Financial Tables and Reconciliations Selected Financial Information This section provides a consolidated overview of key financial metrics, including income summary, performance ratios, and asset quality indicators for the third quarter and year-to-date periods, with comparisons to prior periods | Metric | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | YTD 2025 | YTD 2024 | | :----------------------------------- | :------ | :------ | :------ | :------ | :------ | :------- | :------- | | Income Summary (in thousands): | | | | | | | | | 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 | | Net income | $91,494 | $78,733 | $71,413 | $75,804 | $47,347 | $241,640 | $176,593 | | Performance Measures (per common share): | | | | | | | | | 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 | | Key Performance Ratios: | | | | | | | | | Return on assets - GAAP | 1.29% | 1.11% | 1.02% | 1.06% | 0.67% | 1.16% | 0.85% | | Net interest margin (FTE) | 3.58% | 3.50% | 3.36% | 3.26% | 3.33% | 3.48% | 3.30% | | Efficiency ratio - operating | 53.05% | 54.84% | 56.22% | 55.18% | 57.37% | 54.64% | 57.84% | | Tangible common equity to tangible assets | 9.71% | 9.45% | 9.18% | 8.97% | 8.93% | 9.71% | 8.93% | | Asset Quality: | | | | | | | | | Nonperforming assets ("NPAs") | $97,916 | $83,959 | $93,290 | $115,635 | $114,960 | $97,916 | $114,960 | | Allowance for credit losses - loans | $215,791 | $216,500 | $211,974 | $206,998 | $205,290 | $215,791 | $205,290 | | Net charge-offs | $7,676 | $8,225 | $9,607 | $9,517 | $23,651 | $25,508 | $48,173 | | NPAs to total assets | 0.35% | 0.30% | 0.33% | 0.42% | 0.42% | 0.35% | 0.42% | | At Period End ($ in millions): | | | | | | | | | Loans | $19,175 | $18,921 | $18,425 | $18,176 | $17,964 | $19,175 | $17,964 | | Total assets | $28,143 | $28,086 | $27,874 | $27,720 | $27,373 | $28,143 | $27,373 | | Deposits | $24,021 | $23,963 | $23,762 | $23,461 | $23,253 | $24,021 | $23,253 | | Shareholders' equity | $3,597 | $3,501 | $3,432 | $3,407 | $3,597 | $3,597 | $3,407 | Non-GAAP Performance Measures Reconciliation This section provides detailed reconciliations of various non-GAAP financial measures to their most directly comparable GAAP measures, offering a clearer view of the company's underlying operational performance by excluding non-recurring items Noninterest Income Reconciliation | 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) | | Loss on sale of manufactured housing loans | - | - | - | - | $27,209 | - | $27,209 | | Noninterest income - operating | $43,219 | $34,708 | $35,656 | $40,522 | $35,300 | $113,583 | $109,043 | Noninterest Expense Reconciliation | 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 FinTrust, including goodwill impairment | - | - | - | ($5,100) | - | - | ($5,100) | | 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 | 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 | 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 | 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 | - | - | - | - | $0.31 | - | $0.10 | | Loss on sale of FinTrust, including goodwill impairment | - | - | - | - | - | - | $0.02 | | 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 | 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 | 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 | 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 | 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% | | Loss on sale of FinTrust, including goodwill impairment | - | - | - | - | - | - | 0.02% | | FDIC special assessment | - | - | - | - | - | - | 0.01% | | Merger-related and other charges | 0.02% | 0.03% | 0.01% | 0.02% | 0.01% | 0.06% | 0.04% | | Return on assets - operating | 1.33% | 1.16% | 1.04% | 1.08% | 1.01% | 1.19% | 0.99% | 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 | 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 | 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 Loan Portfolio Composition The loan portfolio demonstrated growth in several commercial and residential categories, with total loans increasing by $254 million from the second quarter and $1.211 billion year-over-year | Loan Category (in millions) | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Linked Quarter Change | Year over Year Change | | :-------------------------- | :------ | :------ | :------ | :------ | :------ | :-------------------- | :-------------------- | | Owner occupied commercial RE | $3,678 | $3,563 | $3,419 | $3,398 | $3,323 | $115 | $355 | | Income producing commercial RE | $4,534 | $4,548 | $4,416 | $4,361 | $4,259 | ($14) | $275 | | Commercial & industrial | $2,593 | $2,516 | $2,506 | $2,428 | $2,313 | $77 | $280 | | Commercial construction | $1,734 | $1,752 | $1,681 | $1,656 | $1,785 | ($18) | ($51) | | Equipment financing | $1,808 | $1,778 | $1,723 | $1,663 | $1,603 | $30 | $205 | | Total commercial | $14,347 | $14,157 | $13,745 | $13,506 | $13,283 | $190 | $1,064 | | Residential mortgage | $3,198 | $3,210 | $3,218 | $3,232 | $3,263 | ($12) | ($65) | | Home equity | $1,252 | $1,180 | $1,099 | $1,065 | $1,015 | $72 | $237 | | Residential construction | $178 | $174 | $171 | $178 | $189 | $4 | ($11) | | Consumer | $192 | $191 | $183 | $186 | $188 | $1 | $4 | | Total loans | $19,175 | $18,921 | $18,425 | $18,176 | $17,964 | $254 | $1,211 | | Loans by Market (in millions) | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Linked Quarter Change | Year over Year Change | | :---------------------------- | :------ | :------ | :------ | :------ | :------ | :-------------------- | :-------------------- | | Georgia | $4,584 | $4,551 | $4,484 | $4,447 | $4,470 | $33 | $114 | | South Carolina | $2,926 | $2,872 | $2,821 | $2,815 | $2,782 | $54 | $144 | | North Carolina | $2,676 | $2,626 | $2,666 | $2,644 | $2,586 | $50 | $90 | | Tennessee | $1,902 | $1,881 | $1,880 | $1,799 | $1,848 | $21 | $54 | | Florida | $3,040 | $2,966 | $2,572 | $2,527 | $2,423 | $74 | $617 | | Alabama | $1,054 | $1,016 | $1,009 | - | - | $38 | $28 | | Commercial Banking Solutions | $2,993 | $3,009 | $2,993 | $2,948 | $2,859 | ($16) | $134 | | Total loans | $19,175 | $18,921 | $18,425 | $18,176 | $17,964 | $254 | $1,211 | Credit Quality Metrics Credit quality metrics showed an increase in total nonaccrual loans from the prior quarter, primarily driven by commercial & industrial and residential mortgage categories | Nonaccrual Loans (in thousands) | 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) | Q3 2025 | NCOs to Average Loans (Q3 2025) | Q2 2025 | NCOs to Average Loans (Q2 2025) | Q1 2025 | NCOs to Average Loans (Q1 2025) | | :---------------------------------------------------- | :------ | :------------------------------ | :------ | :------------------------------ | :------ | :------------------------------ | | Owner occupied RE | $2,497 | 0.28% | $470 | 0.05% | $126 | 0.02% | | Income producing RE | ($106) | (0.01%) | $275 | 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 | ($258) | (0.03%) | $313 | 0.04% | ($1) | - | | Home equity | $8 | 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% | Consolidated Financial Statements Consolidated Balance Sheets The consolidated balance sheet as of September 30, 2025, shows an increase in total assets to $28.14 billion, primarily driven by growth in loans and leases held for investment | Asset (in thousands) | September 30, 2025 | December 31, 2024 | | :---------------------------------------------------- | :----------------- | :---------------- | | Cash and cash equivalents | $613,431 | $519,873 | | Debt securities available-for-sale | $3,889,263 | $4,436,291 | | Debt securities held-to-maturity | $2,274,099 | $2,368,107 | | Loans and leases held for investment | $19,174,794 | $18,175,980 | | Less allowance for credit losses - loans and leases | ($215,791) | ($206,998) | | Loans and leases, net | $18,959,003 | $17,968,982 | | Goodwill and other intangible assets, net | $971,071 | $956,643 | | Total assets | $28,143,473 | $27,720,258 | | Liabilities and Shareholders' Equity (in thousands): | | | | Noninterest-bearing demand deposits | $6,444,067 | $6,211,182 | | NOW and interest-bearing demand deposits | $5,860,653 | $6,141,342 | | Money market deposits | $6,801,387 | $6,398,144 | | Savings deposits | $1,085,237 | $1,100,591 | | Time deposits | $3,673,718 | $3,441,424 | | Brokered deposits | $155,556 | $168,292 | | Total deposits | $24,020,618 | $23,460,975 | | Short-term borrowings | - | $195,000 | | Long-term debt | $155,251 | $254,152 | | Total liabilities | $24,546,622 | $24,288,131 | | Preferred stock | - | $88,266 | | Common stock | $121,553 | $119,364 | | Total shareholders' equity | $3,596,851 | $3,432,127 | Consolidated Statements of Income The consolidated statements of income show a significant increase in net income for both the three and nine months ended September 30, 2025, compared to the prior year | Income Statement Item (in thousands) | Three Months Ended Sep 30, 2025 | Three Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2025 | Nine Months Ended Sep 30, 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 | | Net income available to common shareholders | $86,139 | $45,502 | $232,290 | $170,886 | | Diluted net income per common share | $0.70 | $0.38 | $1.91 | $1.43 | Net Interest Analysis Three Months Ended September 30, 2025 and 2024 For the third quarter, net interest revenue (FTE) increased to $234.66 million, driven by an improved net interest margin of 3.58% | Item (FTE) | Q3 2025 Average Balance (thousands) | Q3 2025 Interest (thousands) | Q3 2025 Average Rate | Q3 2024 Average Balance (thousands) | Q3 2024 Interest (thousands) | Q3 2024 Average Rate | | :----------------------------------- | :---------------------- | :--------------- | :------------------- | :---------------------- | :--------------- | :------------------- | | Interest-earning assets: | | | | | | | | Loans, net of unearned income | $19,010,663 | $297,725 | 6.21% | $18,051,741 | $291,164 | 6.42% | | Taxable securities | $6,217,693 | $51,522 | 3.31% | $6,182,164 | $51,284 | 3.32% | | Tax-exempt securities | $351,528 | $2,249 | 2.56% | $361,359 | $2,292 | 2.54% | | Total interest-earning assets | $25,993,562 | $354,885 | 5.42% | $25,101,056 | $350,180 | 5.55% | | Interest-bearing liabilities: | | | | | | | | Total interest-bearing deposits | $17,548,101 | $118,475 | 2.68% | $16,783,418 | $136,149 | 3.23% | | Total borrowed funds | $157,481 | $1,746 | 4.40% | $325,454 | $3,751 | 4.59% | | Total interest-bearing liabilities | $17,705,582 | $120,221 | 2.69% | $17,108,872 | $139,900 | 3.25% | | Net interest revenue (FTE) | - | $234,664 | - | - | $210,280 | - | | Net interest-rate spread (FTE) | - | - | 2.73% | - | - | 2.30% | | Net interest margin (FTE) | - | - | 3.58% | - | - | 3.33% | Nine Months Ended September 30, 2025 and 2024 For the nine months ended September 30, 2025, net interest revenue (FTE) increased to $674.19 million, with the net interest margin improving to 3.48% | Item (FTE) | YTD 2025 Average Balance (thousands) | YTD 2025 Interest (thousands) | YTD 2025 Average Rate | YTD 2024 Average Balance (thousands) | YTD 2024 Interest (thousands) | YTD 2024 Average Rate | | :----------------------------------- | :----------------------- | :---------------- | :-------------------- | :----------------------- | :---------------- | :-------------------- | | Interest-earning assets: | | | | | | | | Loans, net of unearned income | $18,632,384 | $859,678 | 6.17% | $18,187,790 | $866,502 | 6.36% | | Taxable securities | $6,480,641 | $162,885 | 3.35% | $5,988,368 | $144,363 | 3.21% | | Tax-exempt securities | $354,115 | $6,730 | 2.53% | $363,692 | $6,876 | 2.52% | | Total interest-earning assets | $25,889,263 | $1,039,581 | 5.37% | $25,099,636 | $1,035,997 | 5.51% | | Interest-bearing liabilities: | | | | | | | | Total interest-bearing deposits | $17,445,645 | $356,545 | 2.73% | $16,751,883 | $404,395 | 3.22% | | Total borrowed funds | $258,129 | $8,846 | 4.58% | $326,420 | $11,349 | 4.64% | | Total interest-bearing liabilities | $17,703,774 | $365,391 | 2.76% | $17,078,303 | $415,744 | 3.25% | | Net interest revenue (FTE) | - | $674,190 | - | - | $620,253 | - | | Net interest-rate spread (FTE) | - | - | 2.61% | - | - | 2.26% | | Net interest margin (FTE) | - | - | 3.48% | - | - | 3.30% | Corporate Information and Disclosures About United Community Banks, Inc. United Community Banks, Inc. is a top 100 U.S. financial institution with $28.1 billion in assets as of September 30, 2025 - United Community Banks, Inc. had $28.1 billion in assets as of September 30, 202521 - The company operates 199 offices across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee21 - United Community is an 11-time winner of J.D. Power's award for highest customer satisfaction among consumer banks in the Southeast and was named the most trusted bank in the region in 202521 Non-GAAP Financial Measures Explanation This section clarifies that the press release includes non-GAAP financial measures, such as operating performance metrics, which exclude non-recurring items - Non-GAAP measures exclude merger-related and other charges not considered part of recurring operations22 - These measures are intended to provide useful supplemental information for evaluating underlying performance trends22 - Reconciliations of non-GAAP measures to GAAP are included in the financial statement tables22 Caution About Forward-Looking Statements The document contains forward-looking statements that are subject to various assumptions, risks, and uncertainties, which could cause actual results to differ materially from those expressed or implied - Forward-looking statements are not historical facts and represent management's beliefs about future performance23 - Actual results may differ materially due to numerous assumptions, risks, and uncertainties, including competitive, economic, political, regulatory, and market conditions2324 - The company undertakes no obligation to update or revise any forward-looking statements, except as required by law26 Conference Call Details United Community Banks, Inc. hosted a conference call on Wednesday, October 22, at 9:00 a.m. ET to discuss the third-quarter earnings release and business highlights - A conference call was held on Wednesday, October 22, at 9:00 a.m. ET to discuss earnings7 - Participants could pre-register online or dial in via phone7 - A webcast of the call was accessible through the Investor Relations section of ucbi.com7
United Community Banks, Inc.(UCB) - 2025 Q3 - Quarterly Results