==========                           ========== 
 
Liabilities and 
Shareholders' Equity: 
Interest-bearing 
liabilities: 
   Interest-bearing 
   deposits: 
    NOW and 
     interest-bearing 
     demand               $ 6,014,052      175,534   2.92      $ 5,161,071      125,336   2.43 
    Money market            6,188,579      214,742   3.47        5,462,677      156,397   2.86 
    Savings                 1,146,305        2,717   0.24        1,312,469        2,866   0.22 
    Time                    3,519,461      140,229   3.98        3,106,989      100,973   3.25 
    Brokered time 
     deposits                  50,359        2,297   4.56          224,914       10,002   4.45 
                           ----------    ---------              ----------    --------- 
      Total 
       interest-bearing 
       deposits            16,918,756      535,519   3.17       15,268,120      395,574   2.59 
                           ----------    ---------              ----------    --------- 
   Federal funds 
    purchased and other 
    borrowings                  2,468          131   5.31           75,965        3,195   4.21 
   Federal Home Loan 
    Bank advances                   4           --     --          124,425        5,761   4.63 
   Long-term debt             319,163       14,723   4.61          324,753       14,812   4.56 
                           ----------    ---------              ----------    --------- 
    Total borrowed funds      321,635       14,854   4.62          525,143       23,768   4.53 
                           ----------    ---------              ----------    --------- 
    Total 
     interest-bearing 
     liabilities           17,240,391      550,373   3.19       15,793,263      419,342   2.66 
                                         ---------                            --------- 
 
Noninterest-bearing 
liabilities: 
   Noninterest-bearing 
    deposits                6,299,019                            7,091,034 
   Other liabilities          409,547                              397,337 
                           ----------                           ---------- 
    Total liabilities      23,948,957                           23,281,634 
Shareholders' equity        3,342,220                            3,170,344 
                           ----------                           ---------- 
   Total liabilities and 
    shareholders' 
    equity                $27,291,177                          $26,451,978 
                           ==========                           ========== 
 
Net interest revenue 
 (FTE)                                  $  831,660                           $  821,934 
                                         =========                            ========= 
Net interest-rate spread 
 (FTE)                                               2.27%                                2.40% 
                                                    =====                                ===== 
Net interest margin 
 (FTE) (4)                                           3.29%                                3.35% 
                                                    =====                                ===== 
 

(1) Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $4.29 million and $4.17 million, respectively, for 2024 and 2023. The tax rate used to calculate the adjustment was 25% in 2024 and 26% in 2023, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

(2) Included in the average balance of loans outstanding are loans on which the accrual of interest has been discontinued and loans that are held for sale.

(3) Unrealized gains and losses on AFS securities, including those related to the transfer from AFS to HTM, have been reclassified to other assets. Pretax unrealized losses of $306 million in 2024 and $424 million in 2023 are included in other assets for purposes of this presentation.

(4) Net interest margin is taxable equivalent net-interest revenue divided by average interest-earning assets.

About United Community Banks, Inc.

United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution that is committed to improving the financial health and well-being of its customers and the communities it serves. United Community provides a full range of banking, wealth management, and mortgage services. As of December 31, 2024, United Community Banks, Inc. had $27.7 billion in assets, 199 offices across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee, as well as a national SBA lending franchise and a national equipment lending subsidiary. In 2024, United Community became a 10-time winner of J.D. Power's award for the best customer satisfaction among consumer banks in the Southeast region and was recognized as the most trusted bank in the Southeast. In 2024, United was named by American Banker as one of the "Best Banks to Work For" for the eighth consecutive year and was recognized in the Greenwich Excellence and Best Brands Awards, receiving 15 awards that included national honors for overall satisfaction in small business banking and middle market banking. Forbes has also consistently listed United Community as one of the World's Best Banks and one of America's Best Banks. Additional information about United can be found at ucbi.com.

Non-GAAP Financial Measures

This press release, including the accompanying financial statement tables, contains financial information determined by methods other than in accordance with generally accepted accounting principles, or GAAP. This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations, such as "noninterest income -- operating", "noninterest expense - operating", "operating net income," "pre-tax, pre-provision income," "operating net income per diluted common share," "operating earnings per share," "tangible book value per common share," "operating return on common equity," "operating return on tangible common equity," "operating return on assets," "return on assets - pre-tax, pre-provision - operating," "return on assets - pre-tax, pre-provision," "operating efficiency ratio," and "tangible common equity to tangible assets." These non-GAAP measures are included because United believes they may provide useful supplemental information for evaluating United's underlying performance trends. These measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable measures as reported in accordance with GAAP are included with the accompanying financial statement tables.

Caution About Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential," or the negative of these terms or other comparable terminology, and include statements related to the expected benefits of the acquisition of ANB Holdings, Inc. ("ANB"). Forward-looking statements are not historical facts and represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.

Factors that could cause or contribute to such differences include, but are not limited to (1) the risk that the cost savings and any revenue synergies from the ANB acquisition may not be realized or take longer than anticipated to be realized, (2) disruption from the ANB acquisition of customer, supplier, employee or other business partner relationships, (3) the possibility that the costs, fees, expenses and charges related to the ANB acquisition may be greater than anticipated, (4) reputational risk and the reaction of each of the companies' customers, suppliers, employees or other business partners to the ANB acquisition, (5) the failure of the ANB acquisition to close or any unexpected delay in closing the ANB acquisition, (6) the risks relating to the integration of ANB's operations into the operations of United, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (7) the risks associated with United's pursuit of future acquisitions, (8) the risk associated with expansion into new geographic or product markets, (9) the dilution caused by United's issuance of additional shares of its common stock in the ANB acquisition, and (10) general competitive, economic, political and market conditions. Further information regarding additional factors which could affect the forward-looking statements contained in this press release can be found in the cautionary language included under the headings "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in United's Annual Report on Form 10-K for the year ended December 31, 2023, and other documents subsequently filed by United with the United States Securities and Exchange Commission

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