# EDGAR Filing Document

**Accession Number:** 0000857855
**File Stem:** 0000857855-25-000164
**Filing Date:** 2025-11
**Character Count:** 209491
**Document Hash:** 2d3ef2f8c6dfc5afb84801597de78840
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000857855-25-000164.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0000857855-25-000164

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 95

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UNITED COMMUNITY BANKS INC
- **CENTRAL INDEX KEY:** 0000857855
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 581807304
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35095
- **FILM NUMBER:** 251461813

**BUSINESS ADDRESS:**
- **STREET 1:** 200 E. CAMPERDOWN WAY
- **CITY:** GREENVILLE
- **STATE:** SC
- **ZIP:** 29601
- **BUSINESS PHONE:** 18008222651

**MAIL ADDRESS:**
- **STREET 1:** 200 E. CAMPERDOWN WAY
- **CITY:** GREENVILLE
- **STATE:** SC
- **ZIP:** 29601

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNION BANCSHARES INC /GA/
- **DATE OF NAME CHANGE:** 19600201

?xml version='1.0' encoding='ASCII'? ucbi-20250930

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the Quarterly Period Ended September 30, 2025**

**OR**

---

| | |
|:---|:---|
| ☐ | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)<br>OF THE SECURITIES EXCHANGE ACT OF 1934** |
| | **For the Transition Period from ___________ to ___________** |

---

**Commission file number 001-35095**

**UNITED COMMUNITY BANKS, INC.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Georgia** | **58-1807304** |
| **(State of incorporation)** | **(I.R.S. Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **200 East Camperdown Way**<br>**Greenville, South Carolina** | **29601** |
| **(Address of principal executive offices)** | **(Zip code)** |

---

**(800) 822-2651**

**(Registrant's telephone number, including area code)**

---

| | | |
|:---|:---|:---|
| **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** |
| **<u>Title of Each Class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of Each Exchange on Which Registered</u>** |
| **Common stock, par value $1 per share** | **UCB** | **New York Stock Exchange** |
| **Depositary shares, each representing 1/1000th interest in a share of <br>Series I Non-Cumulative Preferred Stock** | **UCB PRI** | **New York Stock Exchange** |

---

**Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.**

**Yes** ☒ **No** ☐

**Indicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).**

**Yes** ☒ **No** ☐

**Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.**

---

| | | | |
|:---|:---|:---|:---|
| **Large accelerated filer** | ☒ | **Accelerated filer** | ☐ |
| **Non-accelerated filer** | ☐ | **Smaller reporting company** | ☐ |
| | | **Emerging growth company** | ☐ |

---

**If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.** ☐

**Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).**

**Yes** ☐ **No** ☒

**There were 121,556,906 shares of the registrant's common stock, par value $1 per share, outstanding as of October 31, 2025.**

------

**UNITED COMMUNITY BANKS, INC.**

**FORM 10-Q**

**INDEX**

---

| | | |
|:---|:---|:---|
| | **<u>[Glossary of Defined Terms](#i75cb2ca2c06140859cfaf47c2bc06ae4_10)</u>** | <u>[3](#i75cb2ca2c06140859cfaf47c2bc06ae4_10)</u> |
| | **<u>[Cautionary Note Regarding Forward-looking Statements](#i75cb2ca2c06140859cfaf47c2bc06ae4_13)</u>** | <u>[4](#i75cb2ca2c06140859cfaf47c2bc06ae4_13)</u> |
| **<u>[PART I - Financial Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_16)</u>** | **<u>[PART I - Financial Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_16)</u>** | **<u>[PART I - Financial Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_16)</u>** |
| **Item 1.** | **Financial Statements** |  |
|  | **<u>[Consolidated Balance Sheets (unaudited)](#i75cb2ca2c06140859cfaf47c2bc06ae4_19)</u>** | <u>[5](#i75cb2ca2c06140859cfaf47c2bc06ae4_19)</u> |
|  | **<u>[Consolidated Statements of Income (unaudited)](#i75cb2ca2c06140859cfaf47c2bc06ae4_22)</u>** | <u>[6](#i75cb2ca2c06140859cfaf47c2bc06ae4_22)</u> |
|  | **<u>[Consolidated Statements of Comprehensive Income (unaudited)](#i75cb2ca2c06140859cfaf47c2bc06ae4_25)</u>** | <u>[7](#i75cb2ca2c06140859cfaf47c2bc06ae4_25)</u> |
|  | **<u>[Consolidated Statements of Changes in Shareholders' Equity (unaudited)](#i75cb2ca2c06140859cfaf47c2bc06ae4_28)</u>** | <u>[8](#i75cb2ca2c06140859cfaf47c2bc06ae4_28)</u> |
|  | **<u>[Consolidated Statements of Cash Flows (unaudited)](#i75cb2ca2c06140859cfaf47c2bc06ae4_31)</u>** | <u>[9](#i75cb2ca2c06140859cfaf47c2bc06ae4_31)</u> |
|  | **<u>[Notes to Consolidated Financial Statements](#i75cb2ca2c06140859cfaf47c2bc06ae4_34)</u>** | <u>[10](#i75cb2ca2c06140859cfaf47c2bc06ae4_34)</u> |
| **<u>[Item 2.](#i75cb2ca2c06140859cfaf47c2bc06ae4_91)</u>** | **<u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i75cb2ca2c06140859cfaf47c2bc06ae4_91)</u>** | <u>[35](#i75cb2ca2c06140859cfaf47c2bc06ae4_91)</u> |
| **<u>[Item 3.](#i75cb2ca2c06140859cfaf47c2bc06ae4_166)</u>** | **<u>[Quantitative and Qualitative Disclosures About Market Risk](#i75cb2ca2c06140859cfaf47c2bc06ae4_166)</u>** | <u>[51](#i75cb2ca2c06140859cfaf47c2bc06ae4_166)</u> |
| **<u>[Item 4.](#i75cb2ca2c06140859cfaf47c2bc06ae4_169)</u>** | **<u>[Controls and Procedures](#i75cb2ca2c06140859cfaf47c2bc06ae4_169)</u>** | <u>[51](#i75cb2ca2c06140859cfaf47c2bc06ae4_169)</u> |
| **<u>[PART II - Other Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_172)</u>** | **<u>[PART II - Other Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_172)</u>** | **<u>[PART II - Other Information](#i75cb2ca2c06140859cfaf47c2bc06ae4_172)</u>** |
| **<u>[Item 5.](#i75cb2ca2c06140859cfaf47c2bc06ae4_178)</u>** | **<u>[Other Information.](#i75cb2ca2c06140859cfaf47c2bc06ae4_178)</u>** | <u>[52](#i75cb2ca2c06140859cfaf47c2bc06ae4_178)</u> |
| **<u>[Item 6.](#i75cb2ca2c06140859cfaf47c2bc06ae4_196)</u>** | **<u>[Exhibits](#i75cb2ca2c06140859cfaf47c2bc06ae4_196)</u>** | <u>[52](#i75cb2ca2c06140859cfaf47c2bc06ae4_196)</u> |

---

------

**Glossary of Defined Terms**

The following terms may be used throughout this report, including the consolidated financial statements and related notes.

---

| | |
|:---|:---|
| **Term** | **Definition** |
| 2024 10-K | United's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 27, 2025 |
| ACL | Allowance for credit losses |
| AFS | Available-for-sale |
| ANB | ANB Holdings, Inc. and its wholly-owned subsidiary, American National Bank |
| AOCI | Accumulated other comprehensive income (loss) |
| Bank | United Community Bank |
| Board | United Community Banks Inc., Board of Directors |
| BOLI | Bank-owned life insurance |
| CECL | Current expected credit losses |
| CET1 | Common equity tier 1 |
| CME | Chicago Mercantile Exchange |
| CRE | Commercial real estate |
| Company | United Community Banks Inc. (interchangeable with "United" below) |
| DTA | Deferred tax asset |
| DTL | Deferred tax liability |
| FDIC | Federal Deposit Insurance Corporation |
| FDM | Modification made to borrowers experiencing financial difficulty |
| Federal Reserve | Federal Reserve Bank |
| FinTrust | Collectively, FinTrust Brokerage Services, LLC and FinTrust Capital Advisors, LLC |
| First Miami | First Miami Bancorp, Inc. and its wholly-owned subsidiary, First National Bank of South Miami |
| FHLB | Federal Home Loan Bank |
| FTE | Fully taxable equivalent |
| GAAP | Accounting principles generally accepted in the United States of America |
| GSE | U.S. government-sponsored enterprise |
| Holding Company | United Community Banks, Inc. on an unconsolidated basis |
| HTM | Held-to-maturity |
| MD&A | Management's Discussion and Analysis of Financial Condition and Results of Operations |
| MBS | Mortgage-backed securities |
| NOW | Negotiable order of withdrawal |
| NPA | Nonperforming asset |
| OCI | Other comprehensive income (loss) |
| OREO | Other real estate owned |
| PCD | Purchased credit deteriorated |
| Report | Quarterly Report on Form 10-Q for the quarterly period ending September 30, 2025 |
| SBA | United States Small Business Administration |
| SEC | United States Securities and Exchange Commission |
| United | United Community Banks, Inc. and its direct and indirect subsidiaries |
| USDA | United States Department of Agriculture |

---

------

**Cautionary Note Regarding Forward-looking Statements**

This Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither statements of historical or current fact nor are they assurances of future performance and generally can be identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "projects", "plans", "goal", "targets", "potential", "estimates", "pro forma", "seeks", "intends", or "anticipates", or similar expressions. Forward-looking statements include discussions of strategy, financial projections, guidance and estimates (including their underlying assumptions), statements regarding plans, objectives, expectations or consequences of various transactions or events, and statements about our future performance, operations, products and services, and should be viewed with caution.

Because forward-looking statements relate to the future, they are subject to known and unknown risks, uncertainties, assumptions, and changes in circumstances, many of which are beyond our control, and that are difficult to predict as to timing, extent, likelihood and degree of occurrence, and that could cause actual results to differ materially from the results implied or anticipated by the statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to the following:

• negative economic and political conditions that adversely affect the general economy, the banking sector, housing prices, the real estate market, the job market, consumer confidence, the financial condition of our borrowers and consumer spending habits, which may affect, among other things, the levels of NPAs, charge-offs and provision expense;

• changes in loan underwriting, credit review or loss policies associated with economic conditions, examination conclusions or regulatory developments;

• the potential effects of pandemics or public health conditions on the economic and business environments in which we operate, including the impact of actions taken by governmental authorities to address these conditions;

• strategic, market, operational, liquidity and interest rate risks associated with our business;

• potential fluctuations or unanticipated changes in the interest rate environment, including interest rate changes made by the Federal Reserve, replacement or reform of other interest rate benchmarks, as well as cash flow reassessments may reduce net interest margin and/or the volumes and values of loans made or held as well as the value of other financial assets;

• any unanticipated or greater than anticipated adverse conditions in the national or local economies in which we operate;

• our loan concentration in industries or sectors that may experience unanticipated or greater than anticipated adverse conditions than other industries or sectors in the national or local economies in which we operate;

• the risks of expansion into new geographic or product markets;

• risks with respect to our ability to identify and complete future mergers or acquisitions as well as our ability to successfully expand and integrate those businesses and operations that we acquire;

• our ability to attract and retain key employees;

• competition from financial institutions and other financial service providers including non-bank financial technology providers and our ability to attract customers from other financial institutions;

• losses due to fraudulent and negligent conduct of our customers, third-party service providers or employees;

• cybersecurity risks and the vulnerability of our network and online banking portals, and the systems or parties with whom we contract, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches that could adversely affect our business and financial performance or reputation;

• our reliance on third parties to provide key components of our business infrastructure and services required to operate our business;

• the risk that we may be required to make substantial expenditures to keep pace with regulatory initiatives and the rapid technological changes in the financial services market;

• the availability of and access to capital, particularly if there were to be increased capital requirements or enhanced regulatory supervision;

• legislative, regulatory or accounting changes that may adversely affect us;

• volatility in the ACL resulting from the CECL methodology, either alone or as that may be affected by conditions affecting our business;

• adverse results (including judgments, costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future legislation, litigation, regulatory proceedings, examinations, investigations, or similar matters, or developments related thereto;

• government shutdowns, the effect of which could delay legislative activities or regulatory approval processes that could be harmful to our customers, business activities and strategic initiatives;

• any matter that would cause us to conclude that there was impairment of any asset, including intangible assets, such as goodwill;

• limitations on our ability to declare and pay dividends and other distributions from the Bank to the Holding Company, which could affect Holding Company liquidity, including its ability to pay dividends to shareholders or take other capital actions;

• the potential effects of events beyond our control that may have a destabilizing effect on financial markets and the economy, such as inflation or recession, terrorist activities, wars and other foreign conflicts, climate change and weather related events,

disruptions in our customers' supply chains, disruptions in transportation, essential utility outages or trade disputes and tariffs including threats thereof, either imposed by the U.S. or other trading partners in retaliation to U.S. tariffs; and

• other risks and uncertainties disclosed in documents filed or furnished by us with or to the SEC, any of which could cause actual results to differ materially from future results expressed, implied or otherwise anticipated by such forward-looking statements.

We caution readers that the foregoing list of factors is not exclusive, is not necessarily in order of importance and readers should not place undue reliance on forward-looking statements. Additional factors that may cause actual results to differ materially from those contemplated by any forward-looking statements also may be found in our 2024 10-K (including the "Risk Factor" section of that report), Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available at the SEC's website at http://www.sec.gov. We do not intend to and, except as required by law, hereby disclaim any obligation to update or revise any forward-looking statement contained in this Report, which speaks only as of the date of its filing with the SEC, whether as a result of new information, future events, or otherwise.

------

**Part I. FINANCIAL INFORMATION**

**Item 1. Financial Statements**

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| **Consolidated Balance Sheets** *(Unaudited)* |

---

---

| | | |
|:---|:---|:---|
| *(in thousands, except share data)* | **September 30,<br>2025** | **December 31, <br>2024** |
| **ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | $205007 | $296161 |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits in banks | 408424 | 223712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 613431 | 519873 |
| &nbsp;&nbsp;&nbsp;Debt securities available-for-sale | 3889263 | 4436291 |
| &nbsp;&nbsp;Debt securities held-to-maturity (fair value $1,937,053 and $1,944,126, respectively) | 2274099 | 2368107 |
| &nbsp;&nbsp;Loans held for sale | 34802 | 57534 |
| &nbsp;&nbsp;Loans and leases held for investment | 19174794 | 18175980 |
| &nbsp;&nbsp;Less allowance for credit losses - loans and leases | (215791) | (206998) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases, net | 18959003 | 17968982 |
| &nbsp;&nbsp;&nbsp;Premises and equipment, net | 394536 | 394264 |
| &nbsp;&nbsp;&nbsp;Bank owned life insurance | 362608 | 346234 |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible assets, net | 971071 | 956643 |
| &nbsp;&nbsp;Other assets (including $109,174 and $116,020 at fair value, respectively) | 644660 | 672330 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $28143473 | $27720258 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Deposits: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $6444067 | $6211182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits | 17576551 | 17249793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 24020618 | 23460975 |
| &nbsp;&nbsp;&nbsp;Short-term borrowings |  | 195000 |
| &nbsp;&nbsp;&nbsp;Long-term debt | 155251 | 254152 |
| &nbsp;&nbsp;Accrued expense and other liabilities (including $72,128 and $93,165 at fair value, respectively) | 370753 | 378004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 24546622 | 24288131 |
| Shareholders' equity: |  |  |
| &nbsp;&nbsp;Preferred stock, $1 par value: 10,000,000 shares authorized; 0 and 3,662 shares Series I issued and <br>&nbsp;&nbsp;&nbsp;&nbsp;outstanding, respectively; $25,000 per share liquidation preference |  | 88266 |
| &nbsp;&nbsp;Common stock, $1 par value: 200,000,000 shares authorized,<br>&nbsp;&nbsp;&nbsp;&nbsp;121,553,462 and 119,364,110 shares issued and outstanding, respectively | 121553 | 119364 |
| &nbsp;&nbsp;Common stock issuable: 608,291 and 600,168 shares, respectively | 13683 | 12999 |
| &nbsp;&nbsp;&nbsp;Capital surplus | 2767143 | 2710279 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 858395 | 714138 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (163923) | (212919) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | 3596851 | 3432127 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $28143473 | $27720258 |

---

See accompanying notes to consolidated financial statements (unaudited).

------

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| **Consolidated Statements of Income** *(Unaudited)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
|<br>*(in thousands, except per share data)* | **2025** | **2024** | **2025** | **2024** |
| **Net interest revenue:** |  |  |  |  |
| &nbsp;&nbsp;Interest revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, including fees | $297929 | $291574 | $860269 | $867152 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities, including tax exempt of $1,681, $1,713, $5,030 and $5,133, respectively | 53203 | 52997 | 167915 | 149496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits in banks and short-term investments | 2718 | 4515 | 8388 | 16131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest revenue | 353850 | 349086 | 1036572 | 1032779 |
| &nbsp;&nbsp;Interest expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 118475 | 136149 | 356545 | 404395 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 25 | 27 | 1215 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances |  |  | 433 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 1721 | 3724 | 7198 | 11262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 120221 | 139900 | 365391 | 415744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest revenue | 233629 | 209186 | 671181 | 617035 |
| **Noninterest income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges and fees | 11400 | 10488 | 31057 | 30372 |
| &nbsp;&nbsp;&nbsp;Mortgage loan gains and other related fees | 7098 | 3520 | 18590 | 17830 |
| &nbsp;&nbsp;&nbsp;Wealth management fees | 4757 | 6338 | 13622 | 19037 |
| &nbsp;&nbsp;&nbsp;Net gains (losses) from sales of other loans | 2385 | (25700) | 5776 | (22867) |
| &nbsp;&nbsp;&nbsp;Lending and loan servicing fees | 4235 | 3512 | 12090 | 11050 |
| &nbsp;&nbsp;&nbsp;Securities gains, net | 49 |  | 341 |  |
| &nbsp;&nbsp;&nbsp;Other | 13295 | 9933 | 32107 | 28812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 43219 | 8091 | 113583 | 84234 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total revenue** | 276848 | 217277 | 784764 | 701269 |
| **Provision for credit losses** | 7907 | 14428 | 35144 | 39562 |
| **Noninterest expense:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 90667 | 83533 | 261931 | 254336 |
| &nbsp;&nbsp;&nbsp;Communications and equipment | 13937 | 12626 | 40968 | 36534 |
| &nbsp;&nbsp;&nbsp;Occupancy | 11502 | 11311 | 33366 | 33466 |
| &nbsp;&nbsp;&nbsp;Advertising and public relations | 2053 | 2041 | 6815 | 6401 |
| &nbsp;&nbsp;&nbsp;Postage, printing and supplies | 2735 | 2477 | 7791 | 7376 |
| &nbsp;&nbsp;&nbsp;Professional fees | 6282 | 6432 | 17822 | 18464 |
| &nbsp;&nbsp;&nbsp;Lending and loan servicing expense | 2428 | 2227 | 6745 | 6068 |
| &nbsp;&nbsp;&nbsp;Outside services - electronic banking | 3543 | 4433 | 9876 | 10163 |
| &nbsp;&nbsp;&nbsp;FDIC assessments and other regulatory charges | 4846 | 5003 | 14233 | 17036 |
| &nbsp;&nbsp;&nbsp;Amortization of intangibles | 3313 | 3528 | 9891 | 11209 |
| &nbsp;&nbsp;&nbsp;Merger-related and other charges | 3468 | 2176 | 9598 | 6420 |
| &nbsp;&nbsp;&nbsp;Other | 6094 | 7278 | 20850 | 27638 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 150868 | 143065 | 439886 | 435111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 118073 | 59784 | 309734 | 226596 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 26579 | 12437 | 68094 | 50003 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $91494 | $47347 | $241640 | $176593 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common shareholders** | $86139 | $45502 | $232290 | $170886 |
| Net income per common share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.71 | $0.38 | $1.92 | $1.43 |
| &nbsp;&nbsp;&nbsp;Diluted | 0.70 | 0.38 | 1.91 | 1.43 |
| Weighted average common shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 122116 | 119818 | 121186 | 119736 |
| &nbsp;&nbsp;&nbsp;Diluted | 122252 | 119952 | 121303 | 119827 |

---

See accompanying notes to consolidated financial statements (unaudited).

------

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| **Consolidated Statements of Comprehensive Income** *(Unaudited)* |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|<br>*(in thousands)* | **Before-tax<br>Amount** | **Tax** <br>**(Expense)**<br>**Benefit** | **Net of Tax<br>Amount** | **Before-tax<br>Amount** | **Tax<br>(Expense)<br>Benefit** | **Net of Tax<br>Amount** |
| **2025** |  |  |  |  |  |  |
| Net income | $118073 | $(26579) | $91494 | $309734 | $(68094) | $241640 |
| Other comprehensive income: |  |  |  |  |  |  |
| &nbsp;&nbsp;Unrealized gains on available-for-sale securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding gains | 16228 | (3742) | 12486 | 62875 | (14671) | 48204 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustment for gains included in net income | (49) | 13 | (36) | (341) | 83 | (258) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized gains on available-for-sale securities | 16179 | (3729) | 12450 | 62534 | (14588) | 47946 |
| &nbsp;&nbsp;&nbsp;Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 1993 | (471) | 1522 | 5918 | (1400) | 4518 |
| &nbsp;&nbsp;&nbsp;Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding gains (losses) on derivatives | 191 | (49) | 142 | (1195) | 301 | (894) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on derivative instruments realized in net income | (1143) | 289 | (854) | (3393) | 857 | (2536) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flow hedge activity | (952) | 240 | (712) | (4588) | 1158 | (3430) |
| &nbsp;&nbsp;&nbsp;Amortization of defined benefit pension plan net periodic pension cost components | (17) | 4 | (13) | (51) | 13 | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income | 17203 | (3956) | 13247 | 63813 | (14817) | 48996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive income | $135276 | $(30535) | $104741 | $373547 | $(82911) | $290636 |
| **2024** |  |  |  |  |  |  |
| Net income | $59784 | $(12437) | $47347 | $226596 | $(50003) | $176593 |
| Other comprehensive income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized gains on available-for-sale securities | 59830 | (13750) | 46080 | 61534 | (14732) | 46802 |
| &nbsp;&nbsp;&nbsp;Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 2235 | (528) | 1707 | 6772 | (1723) | 5049 |
| &nbsp;&nbsp;&nbsp;Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized holding (losses) gains on derivatives | (2632) | 665 | (1967) | 892 | (188) | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on derivative instruments realized in net income | (1441) | 364 | (1077) | (4319) | 1095 | (3224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flow hedge activity | (4073) | 1029 | (3044) | (3427) | 907 | (2520) |
| &nbsp;&nbsp;&nbsp;Amortization of defined benefit pension plan net periodic pension cost components | 44 | (11) | 33 | 134 | (34) | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other comprehensive income | 58036 | (13260) | 44776 | 65013 | (15582) | 49431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive income | $117820 | $(25697) | $92123 | $291609 | $(65585) | $226024 |

---

See accompanying notes to consolidated financial statements (unaudited).

------

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| **Consolidated Statement of Changes in Shareholders' Equity** *(Unaudited)* |
| *(in thousands except share and per share data)*  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Shares of Common Stock** | **Preferred Stock** | **Common Stock** | **Common Stock Issuable** | **Capital Surplus** | **Retained Earnings** | **Accumulated** <br>**Other Comprehensive Loss** | **Total** |
|<br>**Three Months Ended September 30,** | | | | | | | | |
| **Balance at June 30, 2024** | 119174803 | $88266 | $119175 | $12145 | $2705345 | $652239 | $(234537) | $3342633 |
| Net income |  |  |  |  |  | 47347 |  | 47347 |
| Other comprehensive income |  |  |  |  |  |  | 44776 | 44776 |
| Preferred stock dividends |  |  |  |  |  | (1573) |  | (1573) |
| Common stock dividends ($0.24 per share) |  |  |  |  |  | (29048) |  | (29048) |
| Impact of equity-based compensation awards | 104709 |  | 105 | 375 | 1844 |  |  | 2324 |
| Impact of other United sponsored equity plans | 3250 |  | 3 | 141 | 77 |  |  | 221 |
| **Balance at September 30, 2024** | 119282762 | $88266 | $119283 | $12661 | $2707266 | $668965 | $(189761) | $3406680 |
| **Balance at June 30, 2025** | 121431262 | $88266 | $121431 | $13190 | $2764617 | $802590 | $(177170) | $3612924 |
| Net income |  |  |  |  |  | 91494 |  | 91494 |
| Other comprehensive income |  |  |  |  |  |  | 13247 | 13247 |
| Preferred stock dividends |  |  |  |  |  | (1573) |  | (1573) |
| Common stock dividends ($0.25 per share) |  |  |  |  |  | (30841) |  | (30841) |
| Redemption of preferred stock |  | (88266) |  |  |  | (3275) |  | (91541) |
| Impact of equity-based compensation awards | 119264 |  | 119 | 350 | 2440 |  |  | 2909 |
| Impact of other United sponsored equity plans | 2936 |  | 3 | 143 | 86 |  |  | 232 |
| **Balance at September 30, 2025** | 121553462 | $— | $121553 | $13683 | $2767143 | $858395 | $(163923) | $3596851 |
| **Nine Months Ended September 30,** |  |  |  |  |  |  |  |  |
| **Balance at December 31, 2023** | 119010319 | $88266 | $119010 | $13110 | $2699112 | $581219 | $(239192) | $3261525 |
| Net income |  |  |  |  |  | 176593 |  | 176593 |
| Other comprehensive income |  |  |  |  |  |  | 49431 | 49431 |
| Preferred stock dividends |  |  |  |  |  | (4719) |  | (4719) |
| Common stock dividends ($0.70 per share) |  |  |  |  |  | (84128) |  | (84128) |
| Impact of equity-based compensation awards | 219400 |  | 219 | 543 | 7250 |  |  | 8012 |
| Impact of other United sponsored equity plans | 53043 |  | 54 | (992) | 904 |  |  | (34) |
| **Balance at September 30, 2024** | 119282762 | $88266 | $119283 | $12661 | $2707266 | $668965 | $(189761) | $3406680 |
| **Balance at December 31, 2024** | 119364110 | $88266 | $119364 | $12999 | $2710279 | $714138 | $(212919) | $3432127 |
| Net income |  |  |  |  |  | 241640 |  | 241640 |
| Other comprehensive income |  |  |  |  |  |  | 48996 | 48996 |
| Impact of acquisitions | 2380952 |  | 2381 |  | 63357 |  |  | 65738 |
| Redemption of preferred stock |  | (88266) |  |  |  | (3275) |  | (91541) |
| Purchases of common stock | (506600) |  | (507) |  | (13435) |  |  | (13942) |
| Preferred stock dividends |  |  |  |  |  | (4719) |  | (4719) |
| Common stock dividends ($0.73 per share) |  |  |  |  |  | (89389) |  | (89389) |
| Impact of equity-based compensation awards | 261486 |  | 262 | 1413 | 5904 |  |  | 7579 |
| Impact of other United sponsored equity plans | 53514 |  | 53 | (729) | 1038 |  |  | 362 |
| **Balance at September 30, 2025** | 121553462 | $— | $121553 | $13683 | $2767143 | $858395 | $(163923) | $3596851 |

---

See accompanying notes to consolidated financial statements (unaudited).

------

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| **Consolidated Statements of Cash Flows** *(Unaudited)* |

---

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|<br>*(in thousands)* | **2025** | **2024** |
| **Operating activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Net income | $241640 | $176593 |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation, amortization and accretion, net | 34110 | 31547 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 35144 | 39562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 8177 | 7730 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax expense | 2120 | 3133 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains, net | (341) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (gains) losses from sales of other loans | (5776) | 22867 |
| &nbsp;&nbsp;&nbsp;&nbsp;FinTrust goodwill write-down |  | 5100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | 16874 | (21152) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expense and other liabilities | (36117) | (46946) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 22732 | (16792) |
| **Net cash provided by operating activities** | 318563 | 201642 |
| **Investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Debt securities held-to-maturity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturities and calls | 97734 | 93491 |
| &nbsp;&nbsp;&nbsp;Debt securities available-for-sale: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales | 417898 | 647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturities and calls | 555143 | 475742 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases | (292351) | (1069559) |
| &nbsp;&nbsp;&nbsp;Net (increase) decrease in loans | (709641) | 316837 |
| &nbsp;&nbsp;Payments for other investments | (29047) | (102032) |
| &nbsp;&nbsp;Proceeds from other investments | 7684 | 2417 |
| &nbsp;&nbsp;&nbsp;Purchases of premises and equipment | (21820) | (41505) |
| &nbsp;&nbsp;&nbsp;Net cash received in acquisition | 41246 |  |
| &nbsp;&nbsp;&nbsp;Other investing inflows | 16734 | 13542 |
| **Net cash provided by (used in) investing activities** | 83580 | (310420) |
| **Financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Net increase (decrease) in deposits | 185069 | (58291) |
| &nbsp;&nbsp;&nbsp;Net decrease in short-term borrowings | (195000) |  |
| &nbsp;&nbsp;&nbsp;Repayment of long-term debt | (100000) | (8557) |
| &nbsp;&nbsp;&nbsp;Proceeds from FHLB advances | 126000 | 1100 |
| &nbsp;&nbsp;&nbsp;Repayment of FHLB advances | (126000) | (1100) |
| &nbsp;&nbsp;&nbsp;Redemption of preferred stock | (91541) |  |
| &nbsp;&nbsp;&nbsp;Repurchase of common stock | (13942) |  |
| &nbsp;&nbsp;&nbsp;Cash dividends on common stock | (87677) | (83269) |
| &nbsp;&nbsp;&nbsp;Cash dividends on preferred stock | (4719) | (4719) |
| &nbsp;&nbsp;&nbsp;Other financing inflows | 2039 | 1993 |
| &nbsp;&nbsp;&nbsp;Other financing outflows | (2814) | (2215) |
| **Net cash used in financing activities** | (308585) | (155058) |
| **Net change in cash and cash equivalents** | 93558 | (263836) |
| **Cash and cash equivalents, beginning of period** | 519873 | 1003875 |
| **Cash and cash equivalents, end of period** | $613431 | $740039 |

---

See accompanying notes to consolidated financial statements (unaudited).

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**Note 1 – Basis of Presentation**

**<u>Basis of Presentation</u>**

United's accounting and financial reporting policies conform to GAAP and reporting guidelines of banking regulatory authorities. The accompanying interim consolidated financial statements have not been audited. All material intercompany balances and transactions have been eliminated. A more detailed description of United's accounting policies is included in its 2024 10-K.

In management's opinion, all necessary accounting adjustments have been made to fairly present the financial position and results of operations in the accompanying financial statements. These adjustments are normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim periods. The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in United's 2024 10-K.

**Note 2 – Supplemental Cash Flow Information**

The supplemental schedule of significant non-cash investing and financing activities for the nine months ended September 30, 2025 and 2024 is as follows.

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| *(in thousands)* | **2025** | **2024** |
| **Significant non-cash investing and financing transactions:** |  |  |
| &nbsp;&nbsp;Commitments to fund other investments | $14597 | $9214 |
| &nbsp;&nbsp;Unsettled securities purchases |  | 22400 |
| &nbsp;&nbsp;Right-of-use assets obtained in exchange for lease liabilities | 3367 | 14351 |
| &nbsp;&nbsp;Acquisitions: |  |  |
| &nbsp;&nbsp; Assets acquired | 446504 |  |
| &nbsp;&nbsp; Liabilities assumed | 380766 |  |
| &nbsp;&nbsp; Common stock issued for net assets acquired | 65738 |  |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**Note 3 – Acquisitions**

**<u>Acquisition of ANB</u>**

On May 1, 2025, United acquired all of the outstanding common stock of ANB in a stock transaction. ANB operated one banking location in Oakland Park, Florida, which facilitated United's expansion within that market. United's operating results for the three and nine months ended September 30, 2025 include the operating results of the acquired business for the period subsequent to the acquisition date of May 1, 2025.

---

| | |
|:---|:---|
| **ANB** | **ANB** |
| **Fair Value Recorded by United** <sup>(1)</sup> | **Fair Value Recorded by United** <sup>(1)</sup> |
| *(in thousands)* | **May 1, 2025** |
| **Assets** |  |
| Cash and cash equivalents | $41246 |
| Debt securities | 56503 |
| Loans held for investment | 301303 |
| Bank-owned life insurance | 13822 |
| Net deferred tax asset | 6565 |
| Core deposit intangible | 6290 |
| Other assets | 2746 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets acquired** | 428475 |
| **Liabilities** |  |
| Deposits | 374468 |
| Other liabilities | 6298 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities assumed** | 380766 |
| Total identifiable net assets | 47709 |
| **Consideration transferred** |  |
| &nbsp;&nbsp;Common stock issued (2,380,952 shares) | 65738 |
| **Goodwill** | $18029 |

---

<sup>(1)</sup> Fair values are preliminary and are subject to refinement for a period not to exceed one year after the closing date of an acquisition as information relative to closing date fair values becomes available.

Goodwill represents the intangible value of ANB's business and reputation within the markets it served and is not expected to be deductible for income tax purposes. The ANB core deposit intangible will be amortized over 10 years using the sum-of-the-years-digits method.

The following table presents additional information related to the acquired ANB loan portfolio at the acquisition date.

---

| | |
|:---|:---|
| *(in thousands)* | **May 1, 2025** |
| **PCD Loans** |  |
| Par value | $42649 |
| ACL at acquisition | (1251) |
| Non-credit discount | (2998) |
| Purchase price | $38400 |
| **Non- PCD:** |  |
| Fair value | $262903 |
| Gross contractual amounts receivable | 325973 |
| Estimate of contractual cash flows not expected to be collected | 3158 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

*Pro forma information*

The following table discloses the impact of the ANB acquisition since the acquisition date. The table also presents certain pro forma information as if ANB had been acquired on January 1, 2024. These results combine the historical results of the acquired entity with United's consolidated statement of income. Adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity; however pro forma financial results presented are not necessarily indicative of what would have occurred had the acquisition taken place in an earlier year.

For purposes of pro forma net income presented below, merger costs related to the ANB acquisition are included in the three and nine months ended September 30, 2024 and excluded from the respective periods of 2025 to align with the pro forma year of acquisition. Such costs incurred by United and ANB during the three and nine months ended September 30, 2025 totaled $3.02 million and $12.1 million, respectively. The actual results and pro forma information were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands)* | **Revenue** | **Net Income** | **Revenue** | **Net Income** |
| **2025** |  |  |  |  |
| Actual ANB results included in statement of income since acquisition date | $4365 | $2208 | $6655 | $1182 |
| Supplemental consolidated pro forma as if ANB had been acquired January 1, 2024 | 275888 | 93064 | 789100 | 247582 |
| **2024** |  |  |  |  |
| Supplemental consolidated pro forma as if ANB had been acquired January 1, 2024 | $221466 | $46492 | $713301 | $169283 |

---

**Note 4 – Investment Securities**

The amortized cost basis, unrealized gains and losses and fair value of HTM debt securities as of the dates indicated are as follows.

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands)* | **Amortized<br>Cost** | **Gross Unrealized <br>Gains** | **Gross Unrealized <br>Losses** | **Fair<br>Value** |
| **As of September 30, 2025** |  |  |  |  |
| &nbsp;&nbsp;U.S. Treasuries | $19919 | $— | $1039 | $18880 |
| &nbsp;&nbsp;U.S. Government Agencies & GSEs | 98783 |  | 11713 | 87070 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 285273 | 42 | 46327 | 238988 |
| &nbsp;&nbsp;&nbsp;Residential MBS, Agency & GSEs | 1206009 | 16 | 172538 | 1033487 |
| &nbsp;&nbsp;&nbsp;Commercial MBS, Agency & GSEs | 649115 |  | 103548 | 545567 |
| &nbsp;&nbsp;Supranational entities | 15000 |  | 1939 | 13061 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2274099 | $58 | $337104 | $1937053 |
| **As of December 31, 2024** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasuries | $19896 | $— | $1734 | $18162 |
| &nbsp;&nbsp;&nbsp;U.S. Government Agencies & GSEs | 99154 |  | 16291 | 82863 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 289492 | 10 | 55206 | 234296 |
| &nbsp;&nbsp;&nbsp;Residential MBS, Agency & GSEs | 1282174 | 1 | 223671 | 1058504 |
| &nbsp;&nbsp;&nbsp;Commercial MBS, Agency & GSEs | 662391 |  | 124409 | 537982 |
| &nbsp;&nbsp;Supranational entities | 15000 |  | 2681 | 12319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2368107 | $11 | $423992 | $1944126 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The amortized cost basis, unrealized gains and losses, and fair value of AFS debt securities as of the dates indicated are presented below.

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands)* | **Amortized<br>Cost** | **Gross Unrealized<br>Gains** | **Gross Unrealized<br>Losses** | **Fair<br>Value** |
| **As of September 30, 2025** |  |  |  |  |
| U.S. Treasuries | $414510 | $974 | $4726 | $410758 |
| U.S. Government Agencies & GSEs | 292171 | 68 | 11318 | 280921 |
| State and political subdivisions | 166983 |  | 11586 | 155397 |
| Residential MBS, Agency & GSEs | 1673608 | 5502 | 86836 | 1592274 |
| Residential MBS, Non-Agency | 284563 | 6 | 13803 | 270766 |
| Commercial MBS, Agency & GSEs | 756522 | 4647 | 25990 | 735179 |
| Commercial MBS, Non-Agency | 7965 |  | 116 | 7849 |
| Corporate bonds | 145218 | 13 | 6887 | 138344 |
| Asset-backed securities | 298532 | 296 | 1053 | 297775 |
| &nbsp;&nbsp;Total | $4040072 | $11506 | $162315 | $3889263 |
| **As of December 31, 2024** |  |  |  |  |
| U.S. Treasuries | $511994 | $874 | $9199 | $503669 |
| U.S. Government Agencies & GSEs | 334147 | 100 | 13980 | 320267 |
| State and political subdivisions | 175041 |  | 16809 | 158232 |
| Residential MBS, Agency & GSEs | 2070433 | 1431 | 125833 | 1946031 |
| Residential MBS, Non-Agency | 302318 |  | 18390 | 283928 |
| Commercial MBS, Agency & GSEs | 844302 | 851 | 35243 | 809910 |
| Commercial MBS, Non-Agency | 13323 |  | 336 | 12987 |
| Corporate bonds | 164069 | 130 | 11579 | 152620 |
| Asset-backed securities | 248673 | 501 | 527 | 248647 |
| &nbsp;&nbsp;&nbsp;Total | $4664300 | $3887 | $231896 | $4436291 |

---

As of September 30, 2025 and December 31, 2024 the carrying value of pledged securities totaled $2.50 billion and $3.20 billion, respectively. Securities were pledged primarily to secure public deposits.

The following table summarizes the fair values and gross unrealized losses of HTM debt securities as of the dates indicated based on the length of time that individual securities have been in a continuous unrealized loss position.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | | |
| | **Less than 12 Months** | **Less than 12 Months** | **12 Months or More** | **12 Months or More** | **Total** | **Total** |
| *(in thousands)* | **Fair Value** | **Unrealized<br>Loss** | **Fair Value** | **Unrealized<br>Loss** | **Fair Value** | **Unrealized<br>Loss** |
| **As of September 30, 2025** |  |  |  |  |  |  |
| U.S. Treasuries | $— | $— | $18880 | $1039 | $18880 | $1039 |
| U.S. Government Agencies & GSEs |  |  | 87071 | 11713 | 87071 | 11713 |
| State and political subdivisions | 5229 | 12 | 222344 | 46315 | 227573 | 46327 |
| Residential MBS, Agency & GSEs |  |  | 1032380 | 172538 | 1032380 | 172538 |
| Commercial MBS, Agency & GSEs |  |  | 545567 | 103548 | 545567 | 103548 |
| Supranational entities |  |  | 13061 | 1939 | 13061 | 1939 |
| &nbsp;&nbsp;&nbsp;Total | $5229 | $12 | $1919303 | $337092 | $1924532 | $337104 |
| **As of December 31, 2024** |  |  |  |  |  |  |
| U.S. Treasuries | $— | $— | $18162 | $1734 | $18162 | $1734 |
| U.S. Government Agencies & GSEs |  |  | 82863 | 16291 | 82863 | 16291 |
| State and political subdivisions | 18729 | 305 | 212356 | 54901 | 231085 | 55206 |
| Residential MBS, Agency & GSEs | 6778 | 1822 | 1051455 | 221849 | 1058233 | 223671 |
| Commercial MBS, Agency & GSEs |  |  | 537981 | 124409 | 537981 | 124409 |
| Supranational entities |  |  | 12319 | 2681 | 12319 | 2681 |
| &nbsp;&nbsp;&nbsp;Total | $25507 | $2127 | $1915136 | $421865 | $1940643 | $423992 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The following table summarizes the fair values and gross unrealized losses of AFS debt securities as of the dates indicated based on the length of time that individual securities have been in a continuous unrealized loss position.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | **Length of Time in Unrealized Loss Position** | | |
| | **Less than 12 Months** | **Less than 12 Months** | **12 Months or More** | **12 Months or More** | **Total** | **Total** |
| *(in thousands)* | **Fair Value** | **Unrealized<br>Loss** | **Fair Value** | **Unrealized<br>Loss** | **Fair Value** | **Unrealized<br>Loss** |
| **As of September 30, 2025** |  |  |  |  |  |  |
| U.S. Treasuries | $50153 | $19 | $109886 | $4707 | $160039 | $4726 |
| U.S. Government Agencies & GSEs | 80610 | 534 | 192876 | 10784 | 273486 | 11318 |
| State and political subdivisions | 25 | 1 | 154737 | 11585 | 154762 | 11586 |
| Residential MBS, Agency & GSEs | 113191 | 528 | 862218 | 86308 | 975409 | 86836 |
| Residential MBS, Non-Agency | 18158 | 109 | 252188 | 13694 | 270346 | 13803 |
| Commercial MBS, Agency & GSEs | 66263 | 160 | 357944 | 25830 | 424207 | 25990 |
| Commercial MBS, Non-Agency |  |  | 7849 | 116 | 7849 | 116 |
| Corporate bonds |  |  | 136424 | 6887 | 136424 | 6887 |
| Asset-backed securities | 107191 | 358 | 49406 | 695 | 156597 | 1053 |
| &nbsp;&nbsp;&nbsp;Total | $435591 | $1709 | $2123528 | $160606 | $2559119 | $162315 |
| **As of December 31, 2024** |  |  |  |  |  |  |
| U.S. Treasuries | $75183 | $808 | $106036 | $8391 | $181219 | $9199 |
| U.S. Government Agencies & GSEs | 101964 | 388 | 190525 | 13592 | 292489 | 13980 |
| State and political subdivisions |  |  | 157479 | 16809 | 157479 | 16809 |
| Residential MBS, Agency & GSEs | 773257 | 7593 | 896691 | 118240 | 1669948 | 125833 |
| Residential MBS, Non-Agency | 2788 | 98 | 281140 | 18292 | 283928 | 18390 |
| Commercial MBS, Agency & GSEs | 226363 | 1733 | 355852 | 33510 | 582215 | 35243 |
| Commercial MBS, Non-Agency |  |  | 12987 | 336 | 12987 | 336 |
| Corporate bonds |  |  | 150666 | 11579 | 150666 | 11579 |
| Asset-backed securities | 46870 | 98 | 64271 | 429 | 111141 | 527 |
| &nbsp;&nbsp;&nbsp;Total | $1226425 | $10718 | $2215647 | $221178 | $3442072 | $231896 |

---

At September 30, 2025, there were 506 AFS debt securities and 288 HTM debt securities that were in an unrealized loss position. United does not intend to sell nor does it believe it will be required to sell securities in an unrealized loss position prior to the recovery of their amortized cost basis. Unrealized losses at September 30, 2025 were primarily attributable to changes in interest rates.

At September 30, 2025 and December 31, 2024, the majority of HTM securities were considered to have a zero loss assumption for ACL purposes. For the remaining HTM securities, primarily those issued by state and political subdivisions, calculated credit losses, and, thus, the related ACL were de minimis due to the high credit quality of the portfolio. As a result, no ACL was recorded on the HTM portfolio at September 30, 2025 and December 31, 2024. In addition, based on the assessments performed at September 30, 2025 and December 31, 2024, there was no ACL required related to the AFS portfolio.

The following table presents accrued interest receivable on HTM and AFS debt securities, which was excluded from the estimate of credit losses, for the periods indicated.

---

| | | |
|:---|:---|:---|
| | **Accrued Interest Receivable** | **Accrued Interest Receivable** |
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| &nbsp;&nbsp;HTM | $5292 | $5763 |
| &nbsp;&nbsp;AFS | 17122 | 18201 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The amortized cost and fair value of AFS and HTM debt securities at September 30, 2025, by contractual maturity, are presented in the following table.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **AFS** | **AFS** | **HTM** | **HTM** |
| *(in thousands)* | **Amortized Cost** | **Fair Value** | **Amortized Cost** | **Fair Value** |
| **Within 1 year:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasuries | $199084 | $198742 | $— | $— |
| &nbsp;&nbsp;U.S. Government Agencies & GSEs | 11818 | 11536 |  |  |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 2206 | 2190 | 2500 | 2503 |
| &nbsp;&nbsp;&nbsp;Corporate bonds | 20155 | 19807 |  |  |
|  | 233263 | 232275 | 2500 | 2503 |
| **1 to 5 years:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasuries | 215426 | 212016 | 19919 | 18880 |
| &nbsp;&nbsp;&nbsp;U.S. Government Agencies & GSEs | 45691 | 42517 |  |  |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 35809 | 33711 | 35375 | 33543 |
| &nbsp;&nbsp;&nbsp;Corporate bonds | 108250 | 103192 |  |  |
|  | 405176 | 391436 | 55294 | 52423 |
| **5 to 10 years:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Agencies & GSEs | 154423 | 149049 | 75003 | 66898 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 72791 | 65897 | 80289 | 69608 |
| &nbsp;&nbsp;&nbsp;Corporate bonds | 16813 | 15345 |  |  |
| &nbsp;&nbsp;Supranational entities |  |  | 15000 | 13061 |
|  | 244027 | 230291 | 170292 | 149567 |
| **More than 10 years:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Agencies & GSEs | 80239 | 77819 | 23780 | 20172 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 56177 | 53599 | 167109 | 133334 |
|  | 136416 | 131418 | 190889 | 153506 |
| **Debt securities not due at a single maturity date:** |  |  |  |  |
| Asset-backed securities | 298532 | 297775 |  |  |
| Residential MBS | 1958171 | 1863040 | 1206009 | 1033487 |
| Commercial MBS | 764487 | 743028 | 649115 | 545567 |
|  | 3021190 | 2903843 | 1855124 | 1579054 |
| **Total** | $4040072 | $3889263 | $2274099 | $1937053 |

---

Expected maturities may differ from contractual maturities because issuers and borrowers may have the right to call or prepay obligations.

Realized gains and losses are derived using the specific identification method for determining the cost of securities sold. The following table summarizes AFS securities sales activity for the three and nine months ended September 30, 2025 and 2024*.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Proceeds from sales | $158989 | $— | $417898 | $647 |
| Gross realized gains | $439 | $— | $960 | $— |
| Gross realized losses | (390) |  | (619) |  |
| &nbsp;&nbsp;&nbsp;Securities gains, net | $49 | $— | $341 | $— |
| Income tax expense attributable to sales | $13 | $— | $83 | $— |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Equity Investments</u>**

The table below reflects the carrying value of certain equity investments, which are included in other assets on the consolidated balance sheet, as of the dates indicated.

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Federal Reserve stock | $89979 | $88008 |
| FHLB stock | 18049 | 18051 |
| Equity securities with readily determinable fair values | 2328 | 2341 |

---

**Note 5 – Loans and Leases and Allowance for Credit Losses**

Major classifications of the loan and lease portfolio (collectively referred to as the "loan portfolio" or "loans") are summarized as of the dates indicated as follows. At September 30, 2025, remaining manufactured housing loans of $1.33 million are classified as consumer because manufactured housing is no longer a significant component of loans following the sale of substantially all of that portfolio in 2024.

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Owner occupied CRE | $3678286 | $3398217 |
| Income producing CRE | 4534407 | 4360920 |
| Commercial & industrial | 2592971 | 2428376 |
| Commercial construction | 1733473 | 1655710 |
| Equipment financing | 1807907 | 1662501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 14347044 | 13505724 |
| Residential mortgage | 3197857 | 3231479 |
| Home equity | 1252087 | 1064874 |
| Residential construction | 178468 | 178405 |
| Manufactured housing |  | 1723 |
| Consumer | 191509 | 186448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans excluding fair value hedge basis adjustment | 19166965 | 18168653 |
| Fair value hedge basis adjustment | 7829 | 7327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total loans | 19174794 | 18175980 |
| Less ACL - loans | (215791) | (206998) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | $18959003 | $17968982 |

---

Accrued interest receivable related to loans totaled $55.6 million and $60.1 million at September 30, 2025 and December 31, 2024, respectively, and was reported in other assets on the consolidated balance sheets. Accrued interest receivable was excluded from the estimate of credit losses.

At September 30, 2025 and December 31, 2024, the loan portfolio included certain loans specifically pledged to the Federal Reserve as well as loans covered by a blanket lien on qualifying loan types with the FHLB to secure contingent funding sources.

The following table presents the amortized cost of certain loans held for investment that were sold in the periods indicated. The net gains or losses on these loan sales were included in noninterest income on the consolidated statements of income.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Manufactured housing loans | $— | $302870 | $— | $302870 |
| Guaranteed portion of SBA/USDA loans | 16180 | 11385 | 59889 | 39084 |
| Equipment financing receivables | 37239 | 21122 | 58288 | 57836 |
| &nbsp;&nbsp;Total | $53419 | $335377 | $118177 | $399790 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Past Due and Nonaccrual Loans</u>**

The following table presents the aging of the amortized cost basis in loans by aging category and accrual status as of the dates indicated. Past due status is based on contractual terms of the loan. The accrual of interest is generally discontinued when a loan becomes 90 days past due.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Accruing** | **Accruing** | **Accruing** | **Accruing** | | |
| | **Current Loans** | **Loans Past Due** | **Loans Past Due** | **Loans Past Due** | | |
| *(in thousands)* | **Current Loans** | **30 - 59 Days** | **60 - 89 Days** | **> 90 Days** | **Nonaccrual Loans** | **Total Loans** |
| **As of September 30, 2025** |  |  |  |  |  |  |
| Owner occupied CRE | $3662266 | $2170 | $3575 | $— | $10275 | $3678286 |
| Income producing CRE | 4518820 | 4703 |  |  | 10884 | 4534407 |
| Commercial & industrial | 2559013 | 6278 | 1926 |  | 25754 | 2592971 |
| Commercial construction | 1726531 | 3744 |  |  | 3198 | 1733473 |
| Equipment financing | 1789848 | 3813 | 4530 |  | 9716 | 1807907 |
| &nbsp;&nbsp;&nbsp;Total commercial | 14256478 | 20708 | 10031 |  | 59827 | 14347044 |
| Residential mortgage | 3161867 | 5769 | 1243 |  | 28978 | 3197857 |
| Home equity | 1241771 | 3343 | 1739 |  | 5234 | 1252087 |
| Residential construction | 177145 | 22 | 60 |  | 1241 | 178468 |
| Consumer | 189797 | 449 | 100 |  | 1163 | 191509 |
| &nbsp;&nbsp;&nbsp;Total loans | $19027058 | $30291 | $13173 | $— | $96443 | $19166965 |
| **As of December 31, 2024** |  |  |  |  |  |  |
| Owner occupied CRE | $3381622 | $4402 | $519 | $— | $11674 | $3398217 |
| Income producing CRE | 4333651 | 1705 | 207 |  | 25357 | 4360920 |
| Commercial & industrial | 2395889 | 2665 | 483 |  | 29339 | 2428376 |
| Commercial construction | 1646175 | 1693 | 442 |  | 7400 | 1655710 |
| Equipment financing | 1644721 | 5939 | 2916 |  | 8925 | 1662501 |
| &nbsp;&nbsp;&nbsp;Total commercial | 13402058 | 16404 | 4567 |  | 82695 | 13505724 |
| Residential mortgage | 3199956 | 4808 | 2100 |  | 24615 | 3231479 |
| Home equity | 1059010 | 986 | 248 |  | 4630 | 1064874 |
| Residential construction | 177371 | 133 | 844 |  | 57 | 178405 |
| Manufactured housing | 155 | 124 |  |  | 1444 | 1723 |
| Consumer | 185545 | 636 | 129 |  | 138 | 186448 |
| &nbsp;&nbsp;&nbsp;Total loans | $18024095 | $23091 | $7888 | $— | $113579 | $18168653 |

---

The following table presents nonaccrual loans held for investment by loan class for the periods indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nonaccrual Loans** | **Nonaccrual Loans** | **Nonaccrual Loans** | **Nonaccrual Loans** | **Nonaccrual Loans** | **Nonaccrual Loans** |
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(in thousands)* | **With no allowance** | **With an allowance** | **Total** | **With no allowance** | **With an allowance** | **Total** |
| Owner occupied CRE | $7841 | $2434 | $10275 | $9926 | $1748 | $11674 |
| Income producing CRE | 7885 | 2999 | 10884 | 24970 | 387 | 25357 |
| Commercial & industrial | 10305 | 15449 | 25754 | 21570 | 7769 | 29339 |
| Commercial construction | 778 | 2420 | 3198 | 6817 | 583 | 7400 |
| Equipment financing | 117 | 9599 | 9716 | 33 | 8892 | 8925 |
| &nbsp;&nbsp;&nbsp;Total commercial | 26926 | 32901 | 59827 | 63316 | 19379 | 82695 |
| Residential mortgage | 4381 | 24597 | 28978 | 6540 | 18075 | 24615 |
| Home equity | 801 | 4433 | 5234 | 231 | 4399 | 4630 |
| Residential construction | 757 | 484 | 1241 |  | 57 | 57 |
| Manufactured housing |  |  |  |  | 1444 | 1444 |
| Consumer |  | 1163 | 1163 | 36 | 102 | 138 |
| &nbsp;&nbsp;&nbsp;Total | $32865 | $63578 | $96443 | $70123 | $43456 | $113579 |

---

At September 30, 2025 and December 31, 2024, United had $51.3 million and $75.1 million, respectively, in loans for which repayment is expected to be provided substantially through the operation or sale of the collateral. Estimated credit losses for these loans are based on the net realizable value of the collateral relative to the amortized cost of the loan. The majority of these loans are income producing CRE and commercial and industrial loans.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Lease Receivables</u>**

The equipment financing portfolio includes sales-type and direct financing lease receivables. The following table presents the components of the net investment in these lease receivables as of the dates indicated.

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Minimum future lease payments receivable | $111252 | $97793 |
| Estimated residual value of leased equipment | 6976 | 5749 |
| Initial direct costs | 2199 | 1856 |
| Security deposits | (489) | (491) |
| Unearned income | (17418) | (15412) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment in leases | $102520 | $89495 |

---

Minimum future lease payments expected to be received from equipment financing lease contracts as of September 30, 2025 were as follows:

---

| | |
|:---|:---|
| *(in thousands)* |  |
| **Year** |  |
| Remainder of 2025 | $9977 |
| 2026 | 37173 |
| 2027 | 30254 |
| 2028 | 20412 |
| 2029 | 10708 |
| Thereafter | 2728 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $111252 |

---

**<u>Credit Quality Indicators</u>**

United utilizes internal risk ratings as the primary credit quality indicator as outlined below:

**Commercial Purpose Loans.** United analyzes commercial loans individually on an ongoing basis based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, public information, and current industry and economic trends, among other factors. Commercial loans are categorized by the credit risk ratings of Pass, Special Mention, Substandard and Doubtful. Special Mention, Substandard and Doubtful ratings are defined by regulatory authorities and represent an elevated level of risk due to weaknesses identified related to the credit and/or borrower. Ratings within these categories are based on the severity of the weakness and the likelihood of repayment. Pass loans are considered to have a low probability of default and do not meet the criteria of the other ratings.

**Consumer Purpose Loans.** United applies a pass/fail grading system to all consumer purpose loans. Under this system, loans generally classified as "fail" are those that are on nonaccrual status, are 90 or more days past due, or meet certain bankruptcy status criteria. All other loans are classified as "pass". For reporting purposes, loans in these categories that are classified as "fail" are reported as substandard and all other loans are reported as pass.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The following tables present the risk category of term loans and gross charge-offs by vintage year, which is the year of origination or most recent renewal, as of the date indicated.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands)* | **Term Loans by Origination Year** | **Term Loans by Origination Year** | **Term Loans by Origination Year** | **Term Loans by Origination Year** | **Term Loans by Origination Year** | **Term Loans by Origination Year** | **Revolvers** | **Revolvers converted to term loans** | **Total** |
| **As of September 30, 2025** | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Revolvers** | **Revolvers converted to term loans** | **Total** |
| **Owner occupied CRE** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $580917 | $432714 | $479347 | $596575 | $498366 | $780103 | $130300 | $23958 | $3522280 |
| &nbsp;&nbsp;&nbsp;Special Mention | 1255 | 1001 | 18572 | 13177 | 15985 | 10560 | 4294 | 231 | 65075 |
| &nbsp;&nbsp;&nbsp;Substandard | 2743 | 6790 | 19993 | 32413 | 3852 | 22505 | 2635 |  | 90931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total owner occupied CRE | $584915 | $440505 | $517912 | $642165 | $518203 | $813168 | $137229 | $24189 | $3678286 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $165 | $476 | $2162 | $— | $667 | $— | $— | $3470 |
| **Income producing CRE** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $633398 | $475452 | $468950 | $880469 | $830978 | $949790 | $48842 | $11460 | $4299339 |
| &nbsp;&nbsp;&nbsp;Special Mention | 12085 | 5036 | 2094 | 57305 | 4558 | 6301 |  |  | 87379 |
| &nbsp;&nbsp;&nbsp;Substandard | 24287 | 26709 | 37589 | 1362 | 4745 | 52997 |  |  | 147689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total income producing CRE | $669770 | $507197 | $508633 | $939136 | $840281 | $1009088 | $48842 | $11460 | $4534407 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $— | $— | $1970 | $— | $— | $— | $— | $1970 |
| **Commercial & industrial** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $478055 | $414645 | $302878 | $178122 | $162698 | $246264 | $661830 | $11045 | $2455537 |
| &nbsp;&nbsp;&nbsp;Special Mention | 2408 | 9411 | 14860 | 19022 | 2102 | 3854 | 7448 | 49 | 59154 |
| &nbsp;&nbsp;&nbsp;Substandard | 2470 | 2661 | 41360 | 6076 | 4070 | 8502 | 11610 | 1531 | 78280 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial & industrial | $482933 | $426717 | $359098 | $203220 | $168870 | $258620 | $680888 | $12625 | $2592971 |
| &nbsp;&nbsp;Current period gross charge-offs | $22 | $999 | $4042 | $1228 | $51 | $225 | $— | $1265 | $7832 |
| **Commercial construction** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $429425 | $334502 | $265152 | $373184 | $128245 | $47592 | $54110 | $2064 | $1634274 |
| &nbsp;&nbsp;&nbsp;Special Mention | 4355 | 146 | 463 | 70361 | 6607 | 93 | 280 | 109 | 82414 |
| &nbsp;&nbsp;&nbsp;Substandard | 895 | 4507 | 428 | 758 | 5571 | 4626 |  |  | 16785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial construction | $434675 | $339155 | $266043 | $444303 | $140423 | $52311 | $54390 | $2173 | $1733473 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $505 | $— | $— | $130 | $— | $— | $— | $635 |
| **Equipment financing** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $617780 | $536823 | $333765 | $219591 | $64851 | $21257 | $— | $— | $1794067 |
| &nbsp;&nbsp;&nbsp;Special Mention |  |  |  | 495 | 1628 |  |  |  | 2123 |
| &nbsp;&nbsp;&nbsp;Substandard | 604 | 2503 | 4404 | 2508 | 901 | 797 |  |  | 11717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equipment financing | $618384 | $539326 | $338169 | $222594 | $67380 | $22054 | $— | $— | $1807907 |
| &nbsp;&nbsp;Current period gross charge-offs | $141 | $2695 | $5739 | $7724 | $2005 | $506 | $— | $— | $18810 |
| **Residential mortgage** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $165117 | $115280 | $320497 | $946069 | $929101 | $685317 | $— | $2589 | $3163970 |
| &nbsp;&nbsp;&nbsp;Substandard |  | 2704 | 5525 | 10767 | 3937 | 10875 |  | 79 | 33887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential mortgage | $165117 | $117984 | $326022 | $956836 | $933038 | $696192 | $— | $2668 | $3197857 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $4 | $373 | $76 | $— | $— | $— | $5 | $458 |
| **Home equity** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $— | $— | $— | $— | $— | $— | $1213079 | $33048 | $1246127 |
| &nbsp;&nbsp;&nbsp;Substandard |  |  |  |  |  |  |  | 5960 | 5960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total home equity | $— | $— | $— | $— | $— | $— | $1213079 | $39008 | $1252087 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $— | $— | $— | $— | $— | $— | $169 | $169 |
| **Residential construction** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $64643 | $72871 | $15611 | $13039 | $3786 | $7189 | $— | $87 | $177226 |
| &nbsp;&nbsp;&nbsp;Substandard |  | 166 | 912 | 72 | 8 | 84 |  |  | 1242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential construction | $64643 | $73037 | $16523 | $13111 | $3794 | $7273 | $— | $87 | $178468 |
| &nbsp;&nbsp;Current period gross charge-offs | $— | $— | $118 | $124 | $— | $7 | $— | $— | $249 |
| **Consumer** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $76370 | $48211 | $26726 | $14907 | $3518 | $1104 | $19354 | $126 | $190316 |
| &nbsp;&nbsp;&nbsp;Substandard |  | 239 | 484 | 169 | 84 | 215 |  | 2 | 1193 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | $76370 | $48450 | $27210 | $15076 | $3602 | $1319 | $19354 | $128 | $191509 |
| &nbsp;&nbsp;Current period gross charge-offs | $2593 | $351 | $184 | $87 | $72 | $16 | $— | $98 | $3401 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands)* | **Term Loans** | **Term Loans** | **Term Loans** | **Term Loans** | **Term Loans** | **Term Loans** | **Revolvers** | **Revolvers converted to term loans** | **Total** |
| **As of December 31, 2024** | **2024** | **2023** | **2022** | **2021** | **2020** | **Prior** | **Revolvers** | **Revolvers converted to term loans** | **Total** |
| **Owner occupied CRE** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $455248 | $540913 | $621020 | $555846 | $507121 | $425932 | $120574 | $21867 | $3248521 |
| &nbsp;&nbsp;&nbsp;Special Mention | 1093 | 13414 | 13653 | 14735 | 6520 | 6496 | 4995 | 393 | 61299 |
| &nbsp;&nbsp;&nbsp;Substandard | 3285 | 5365 | 37791 | 9647 | 8519 | 22319 | 1471 |  | 88397 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total owner occupied CRE | $459626 | $559692 | $672464 | $580228 | $522160 | $454747 | $127040 | $22260 | $3398217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $— | $221 | $— | $— | $707 | $— | $— | $928 |
| **Income producing CRE** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $468247 | $477887 | $977090 | $896096 | $614584 | $606395 | $50955 | $15025 | $4106279 |
| &nbsp;&nbsp;&nbsp;Special Mention | 16852 | 2145 | 21007 | 2724 | 3538 | 10465 | 50 |  | 56781 |
| &nbsp;&nbsp;&nbsp;Substandard | 59437 | 36259 | 16758 | 3411 | 39085 | 42910 |  |  | 197860 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total income producing CRE | $544536 | $516291 | $1014855 | $902231 | $657207 | $659770 | $51005 | $15025 | $4360920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $3128 | $— | $— | $— | $1691 | $— | $— | $4819 |
| **Commercial & industrial** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $464843 | $440557 | $270459 | $198320 | $125964 | $180262 | $583147 | $8480 | $2272032 |
| &nbsp;&nbsp;&nbsp;Special Mention | 8630 | 12438 | 18832 | 2794 | 1238 | 3794 | 24286 | 1806 | 73818 |
| &nbsp;&nbsp;&nbsp;Substandard | 2428 | 22877 | 9773 | 12133 | 3986 | 7081 | 16078 | 8170 | 82526 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial & industrial | $475901 | $475872 | $299064 | $213247 | $131188 | $191137 | $623511 | $18456 | $2428376 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $842 | $2908 | $6826 | $1994 | $2282 | $1236 | $— | $3270 | $19358 |
| **Commercial construction** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $448497 | $348179 | $495712 | $153303 | $40254 | $40004 | $46863 | $1196 | $1574008 |
| &nbsp;&nbsp;&nbsp;Special Mention | 5005 | 462 | 44152 | 5253 |  | 100 | 6040 |  | 61012 |
| &nbsp;&nbsp;&nbsp;Substandard | 1900 | 3956 | 1491 | 6549 | 6621 | 173 |  |  | 20690 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial construction | $455402 | $352597 | $541355 | $165105 | $46875 | $40277 | $52903 | $1196 | $1655710 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $69 | $53 | $— | $— | $23 | $— | $— | $145 |
| **Equipment financing** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $693205 | $454501 | $328490 | $122920 | $33870 | $15788 | $— | $— | $1648774 |
| &nbsp;&nbsp;&nbsp;Special Mention |  |  | 659 | 1989 | 708 | 496 |  |  | 3852 |
| &nbsp;&nbsp;&nbsp;Substandard | 653 | 2784 | 3453 | 1828 | 527 | 630 |  |  | 9875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equipment financing | $693858 | $457285 | $332602 | $126737 | $35105 | $16914 | $— | $— | $1662501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $261 | $5489 | $13359 | $6418 | $1033 | $309 | $— | $— | $26869 |
| **Residential mortgage** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $121145 | $321804 | $1015693 | $989673 | $402894 | $347249 | $— | $2971 | $3201429 |
| &nbsp;&nbsp;&nbsp;Substandard | 2291 | 3841 | 8922 | 2410 | 1748 | 10618 |  | 220 | 30050 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential mortgage | $123436 | $325645 | $1024615 | $992083 | $404642 | $357867 | $— | $3191 | $3231479 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $87 | $124 | $71 | $3 | $— | $10 | $— | $— | $295 |
| **Home equity** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $— | $— | $— | $— | $— | $— | $1028340 | $31291 | $1059631 |
| &nbsp;&nbsp;&nbsp;Substandard |  |  |  |  |  |  |  | 5243 | 5243 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total home equity | $— | $— | $— | $— | $— | $— | $1028340 | $36534 | $1064874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $— | $— | $— | $— | $— | $— | $95 | $95 |
| **Residential construction** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $74854 | $55164 | $30216 | $8539 | $4528 | $4872 | $— | $90 | $178263 |
| &nbsp;&nbsp;&nbsp;Substandard |  |  | 49 |  | 3 | 90 |  |  | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential construction | $74854 | $55164 | $30265 | $8539 | $4531 | $4962 | $— | $90 | $178405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $221 | $73 | $48 | $— | $— | $— | $— | $342 |
| **Manufactured housing** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $124 | $— | $— | $— | $— | $150 | $— | $— | $274 |
| &nbsp;&nbsp;&nbsp;Substandard | 285 | 506 | 178 | 112 | 169 | 199 |  |  | 1449 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total manufactured housing | $409 | $506 | $178 | $112 | $169 | $349 | $— | $— | $1723 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $— | $1679 | $3570 | $2518 | $2518 | $4304 | $— | $— | $14589 |
| **Consumer** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pass | $84100 | $43889 | $20332 | $7103 | $7625 | $563 | $22508 | $100 | $186220 |
| &nbsp;&nbsp;&nbsp;Substandard | 1 | 118 | 42 | 36 | 30 | 1 |  |  | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | $84101 | $44007 | $20374 | $7139 | $7655 | $564 | $22508 | $100 | $186448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current period gross charge-offs | $3082 | $281 | $162 | $34 | $11 | $8 | $— | $152 | $3730 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Modifications to Borrowers Experiencing Financial Difficulty</u>**

The period-end amortized cost and additional information regarding loans modified under the terms of a FDM during the nine months ended September 30, 2025 and 2024 are presented in the following tables*.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **New FDMs** | **New FDMs** | **Defaults within 12 months of modification** | **New FDMs** | **New FDMs** | **Defaults within 12 months of modification** |
|<br><br>*(dollars in thousands)* | **Amortized Cost** | **% of Total Class of Receivable** | **Defaults within 12 months of modification** | **Amortized Cost** | **% of Total Class of Receivable** | **Defaults within 12 months of modification** |
| Owner occupied CRE | $894 | —% | $— | $3425 | 0.1% | $1781 |
| Income producing CRE |  |  |  | 21471 | 0.5 |  |
| Commercial & industrial | 462 |  | 107 | 23063 | 1.0 | 329 |
| Equipment financing | 11953 | 0.7 | 83 | 4891 | 0.3 | 317 |
| Residential mortgage | 5382 | 0.2 | 654 | 2755 | 0.1 | 720 |
| Home equity | 568 |  |  |  |  |  |
| Manufactured housing |  |  |  | 305 | 14.0 |  |
| Consumer | 96 | 0.1 |  | 111 | 0.1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | $19355 | 0.1 | $844 | $56021 | 0.3 | $3147 |

---

The following table presents the aging category and accrual status of loans modified under the terms of a FDM during the previous 12 months on an amortized cost basis as of September 30, 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Accruing** | **Accruing** | **Accruing** | **Accruing** | | |
| | | **Loans Past Due** | **Loans Past Due** | **Loans Past Due** | | |
| *(in thousands)* | **Current**  | **30 - 59 Days** | **60 - 89 Days** | **> 90 Days** | **Nonaccrual** | **Total** |
| **As of September 30, 2025** |  |  |  |  |  |  |
| Owner occupied CRE | $1185 | $— | $— | $— | $— | $1185 |
| Commercial & industrial | 1269 |  | 293 |  | 245 | 1807 |
| Equipment financing | 11268 | 114 | 726 |  | 969 | 13077 |
| Residential mortgage | 2368 |  |  |  | 4563 | 6931 |
| Home equity | 71 |  |  |  | 497 | 568 |
| Consumer |  |  |  |  | 96 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $16161 | $114 | $1019 | $— | $6370 | $23664 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The following table presents the amortized cost by type of FDM and the applicable weighted-average impact of the modifications for the periods indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **New FDMs** | **New FDMs** | **New FDMs** | **New FDMs** | **New FDMs** |
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|  | **2025** | **2025** | **2024** | **2024** |
| *(dollars in thousands)* | **Amortized Cost** | **Weighted Average <br>Modification** | **Amortized Cost** | **Weighted Average <br>Modification** |
| **Extension** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied CRE | $— |  | $197 | 6 months |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial | 78 | 2.0 years | 19445 | 1.1 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 242 | 6 months | 225 | 10.2 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer |  |  | 111 | 2.1 years |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 320 |  | 19978 |  |
| **Payment Delay** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied CRE <sup>(1)</sup> | 894 | 8 months | 1631 | 5 months |
| &nbsp;&nbsp;&nbsp;&nbsp;Income producing CRE <sup>(2)</sup> |  |  | 12976 | 1.5 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial <sup>(1)</sup> | 222 | 4 months | 165 | 7 months |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 2589 | 10 months | 139 | 6 months |
| &nbsp;&nbsp;&nbsp;&nbsp;HELOC | 497 | 6 months |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 4202 |  | 14911 |  |
| **Rate Reduction** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial |  |  | 488 | 50 basis points |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 341 | 242 basis points |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 71 | 400 basis points |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 412 |  | 488 |  |
| **Payment Delay and Extension** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial | 162 | Payment delay: 6 months; <br>Extension: 2.0 years | 403 | Payment delay: 4 months; <br>Extension: 2.8 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment financing | 11953 | Extension and payment delay:<br>8 months | 4891 | Extension and payment delay: 8 months |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12115 |  | 5294 |  |
| **Rate Reduction and Extension** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income producing CRE |  |  | 8495 | Rate reduction: 304 basis points; <br>Extension: 4.8 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 1851 | Rate reduction: 400 basis points; Extension: 6.3 years | 2391 | Rate reduction: 448 basis points; <br>Extension: 3.6 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Manufactured housing |  |  | 305 | Rate reduction: 538 basis points; <br>Extension: 3.6 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 96 | Rate reduction: 163 basis points; Extension: 7.9 years |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 1947 |  | 11191 |  |
| **Rate Reduction and Payment Delay** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied CRE |  |  | 1438 | Rate reduction: 75 basis points; <br>Payment delay: 6 months |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial |  |  | 106 | Rate reduction: 150 basis points; <br>Payment delay: 6 months |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 359 | Rate reduction: 50 basis points; <br>Payment delay: 4 months |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 359 |  | 1544 |  |
| **Rate Reduction, Payment Delay & Extension** | **Rate Reduction, Payment Delay & Extension** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied CRE |  |  | 159 | Rate reduction: 75 basis points; <br>Payment delay: 6 months; Extension: 3 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial |  |  | 2456 | Rate reduction: 273 basis points; <br>Payment delay: 6 months; Extension: 4.6 years |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |  | 2615 |  |
| **Total** | $19355 |  | $56021 |  |

---

<sup>(1)</sup> Payment delay FDMs in bankruptcy are excluded from the weighted average payment delay calculation. <sup>(2)</sup> Payment delays in this category reflect principal payment delays, while interest payments continue in accordance with loan terms.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Allowance for Credit Losses</u>**

The ACL for loans represents management's estimate of life of loan credit losses in the portfolio as of the end of the period. The ACL related to unfunded commitments is included in other liabilities in the consolidated balance sheet.

For all periods presented, United used a one-year reasonable and supportable forecast period. Expected credit losses were estimated using a regression model for each segment based on historical data from peer banks combined with a baseline economic forecast to predict the change in credit losses. These estimates were then combined with a starting value that was based on United's recent charge-off experience to produce an expected default rate, with the results subject to a floor.

At September 30, 2025, the baseline economic forecast had worsened slightly relative to the forecast at December 31, 2024 as the economy, especially the labor market, has slowed somewhat due to marketplace uncertainty and the forecasted impact of recently implemented tariffs. However, the decrease in United's net charge-offs lowered the initial expected default rates for some segments and thus contributed to a lower modeled ACL balance. At September 30, 2025, United applied qualitative adjustments to increase the model's calculated ACL for the income producing CRE and commercial construction portfolios. These qualitative adjustments were applied to better reflect management's expectations of future performance. In addition, at September 30, 2025, United's qualitative adjustment to estimate losses for loans to borrowers affected by Hurricane Helene added $1.88 million to the ACL balance, compared to $9.80 million at December 31, 2024.

For periods beyond the reasonable and supportable forecast period of one year, United reverted to historical credit loss information on a straight line basis over two years. For most collateral types, United reverted to through-the-cycle average default rates using peer data from 2000 to 2017. For loans secured by residential mortgages, the peer data was adjusted for changes in lending practices designed to mitigate the magnitude of losses observed during the 2008 mortgage crisis.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The following table presents the balance and activity in the ACL by portfolio segment for the periods indicated.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(in thousands)* | **Beginning Balance** | **Charge-Offs** | **Recoveries** | **(Release) Provision** | **Ending Balance** | **Beginning Balance** | **Charge-Offs** | **Recoveries** | **(Release) Provision** | **Ending Balance** |
| Owner occupied CRE | $20967 | $(2638) | $141 | $2189 | $20659 | $21787 | $(127) | $311 | $(736) | $21235 |
| Income producing CRE | 49072 |  | 106 | (2967) | 46211 | 42894 | (1461) | 52 | (2009) | 39476 |
| Commercial & industrial | 38693 | (1702) | 2834 | 4656 | 44481 | 32101 | (5999) | 1422 | 7175 | 34699 |
| Commercial construction | 15979 | (505) | 14 | (1647) | 13841 | 19617 | (69) | 33 | (3548) | 16033 |
| Equipment financing | 47900 | (6946) | 1459 | 2691 | 45104 | 45115 | (6282) | 1014 | 6019 | 45866 |
| Residential mortgage | 30217 | (37) | 296 | 797 | 31273 | 28612 | (110) | 78 | 5723 | 34303 |
| Home equity | 10812 | (98) | 79 | 563 | 11356 | 9386 | (88) | 52 | 1415 | 10765 |
| Residential construction | 1812 | (23) | 11 | (33) | 1767 | 1384 | (139) | 28 | 213 | 1486 |
| Manufactured housing <sup>(1)</sup> |  |  |  |  |  | 11522 | (11635) | 79 | 564 | 530 |
| Consumer | 1048 | (905) | 238 | 718 | 1099 | 604 | (1064) | 254 | 1103 | 897 |
| &nbsp;&nbsp;ACL - loans | 216500 | (12854) | 5178 | 6967 | 215791 | 213022 | (26974) | 3323 | 15919 | 205290 |
| &nbsp;&nbsp;ACL - unfunded commitments | 11545 |  |  | 940 | 12485 | 11718 |  |  | (1491) | 10227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total ACL | $228045 | $(12854) | $5178 | $7907 | $228276 | $224740 | $(26974) | $3323 | $14428 | $215517 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(in thousands)* | **Beginning Balance** | **Initial ACL - PCD loans** <sup>(2)</sup> | **Charge-Offs** | **Recoveries** | **(Release) Provision** | **Ending Balance** | **Beginning<br>Balance** | **Charge-<br>Offs** | **Recoveries** | **(Release)<br>Provision** | **Ending<br>Balance** |
| Owner occupied CRE | $19873 | $278 | $(3470) | $377 | $3601 | $20659 | $23542 | $(928) | $747 | $(2126) | $21235 |
| Income producing CRE | 41427 | 910 | (1970) | 425 | 5419 | 46211 | 47755 | (4819) | 237 | (3697) | 39476 |
| Commercial & industrial | 35441 | 23 | (7832) | 5490 | 11359 | 44481 | 30890 | (14069) | 4305 | 13573 | 34699 |
| Commercial construction | 16370 | 39 | (635) | 193 | (2126) | 13841 | 21741 | (122) | 114 | (5700) | 16033 |
| Equipment financing | 47415 |  | (18810) | 3318 | 13181 | 45104 | 33383 | (20175) | 3043 | 29615 | 45866 |
| Residential mortgage | 32259 |  | (458) | 405 | (933) | 31273 | 28219 | (132) | 223 | 5993 | 34303 |
| Home equity | 11247 | 1 | (169) | 284 | (7) | 11356 | 9647 | (95) | 140 | 1073 | 10765 |
| Residential construction | 1672 |  | (249) | 27 | 317 | 1767 | 1833 | (328) | 72 | (91) | 1486 |
| Manufactured housing <sup>(1)</sup> | 450 |  |  |  | (450) |  | 10339 | (14475) | 200 | 4466 | 530 |
| Consumer | 844 |  | (3401) | 967 | 2689 | 1099 | 722 | (2841) | 730 | 2286 | 897 |
| &nbsp;&nbsp;ACL - loans | 206998 | 1251 | (36994) | 11486 | 33050 | 215791 | 208071 | (57984) | 9811 | 45392 | 205290 |
| &nbsp;&nbsp;ACL - unfunded commitments | 10391 |  |  |  | 2094 | 12485 | 16057 |  |  | (5830) | 10227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total ACL | $217389 | $1251 | $(36994) | $11486 | $35144 | $228276 | $224128 | $(57984) | $9811 | $39562 | $215517 |

---

<sup>(1)</sup> The release of ACL presented for manufactured housing loans for the nine months ended September 30, 2025 represents a reclassification of the allowance to the consumer line where these loan balances are reflected as of September 30, 2025.

<sup>(2)</sup> Represents the initial ACL related to PCD loans acquired in the ANB transaction.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**Note 6 – Derivatives and Hedging Activities**

The table below presents the fair value of derivative financial instruments, which are included in other assets and other liabilities on the consolidated balance sheet, as of the dates indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Notional Amount** | **Fair Value** | **Fair Value** | **Notional Amount** | **Fair Value** | **Fair Value** |
| *(in thousands)* | **Notional Amount** | **Derivative Asset** | **Derivative Liability** | **Notional Amount** | **Derivative Asset** | **Derivative Liability** |
| Derivatives designated as hedging instruments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash flow hedge of subordinated debt | $100000 | $7124 | $— | $100000 | $11196 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash flow hedges of trust preferred securities | 20000 |  |  | 20000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value hedges of AFS debt securities | 793688 |  |  | 821507 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value hedges of loans | 2050000 |  |  | 1650000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 2963688 | 7124 |  | 2591507 | 11196 |  |
| Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer derivative positions | 1422769 | 12604 | 35206 | 1225732 | 1740 | 63703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dealer offsets to customer derivative positions | 1422769 | 10065 | 12456 | 1225732 | 21897 | 1811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Risk participations | 104493 |  | 138 | 81147 |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking - loan commitments | 57836 | 1210 |  | 52444 | 822 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking - forward sales commitment | 118599 | 226 | 191 | 77401 | 394 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bifurcated embedded derivatives | 51935 | 7200 |  | 51935 | 10834 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dealer offsets to bifurcated embedded derivatives | 51935 |  | 8568 | 51935 |  | 12274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 3230336 | 31305 | 56559 | 2766326 | 35687 | 77834 |
| Total derivatives | $6194024 | $38429 | $56559 | $5357833 | $46883 | $77834 |
| Total gross derivative instruments |  | $38429 | $56559 |  | $46883 | $77834 |
| Less: Amounts subject to master netting agreements |  | (8823) | (8823) |  | (1900) | (1900) |
| Less: Cash collateral received/pledged |  | (10735) | (12053) |  | (33005) | (12230) |
| Net amount |  | $18871 | $35683 |  | $11978 | $63704 |

---

United clears certain derivatives centrally through the CME. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than as collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero.

**<u>Hedging Derivatives</u>**

<u>Cash Flow Hedges of Interest Rate Risk</u> 

As of September 30, 2025 and December 31, 2024, United utilized interest rate caps and swaps to hedge the variability of cash flows due to changes in interest rates on certain of its variable-rate subordinated debt and trust preferred securities. Gains and losses related to changes in fair value are reclassified into earnings in the periods the hedged forecasted transactions occur. Over the next twelve months, United expects to reclassify $3.54 million of gains from AOCI into earnings related to these agreements.

<u>Fair Value Hedges of Interest Rate Risk</u> 

United uses interest rate derivatives to manage its exposure to changes in fair value attributable to changes in interest rates on certain of its fixed-rate financial instruments.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The table below presents the effect of derivatives in hedging relationships, all of which are interest rate contracts, on net interest income for the periods indicated.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Affected Income Statement Line Item Increase/(Decrease) to Earnings** | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands)* | **Affected Income Statement Line Item Increase/(Decrease) to Earnings** | **2025** | **2024** | **2025** | **2024** |
| Fair value hedges: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AFS securities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amounts related to interest settlements on derivatives |  | $1539 | $3568 | $4428 | $9544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss recognized on derivative |  | (1050) | (22144) | (14217) | (12292) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain recognized on hedged items |  | 1357 | 22983 | 14665 | 13495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income recognized on AFS securities fair value hedges | Interest revenue - investment securities | $1846 | $4407 | $4876 | $10747 |
| &nbsp;&nbsp;Loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amounts related to interest settlements on derivatives |  | $(112) | $3986 | $(999) | $8949 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain (loss) recognized on derivatives |  | 1098 | (27305) | 310 | (21680) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Loss) gain recognized on hedged items |  | (867) | 27931 | 502 | 22285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) recognized on loan fair value hedges | Interest revenue - loans, including fees | $119 | $4612 | $(187) | $9554 |
| Cash flow hedges: |  |  |  |  |  |
| &nbsp;&nbsp;Long-term debt <sup>(1)</sup> | Interest expense- long term debt | $1143 | $1441 | $3393 | $4319 |

---

 <sup>(1)</sup> Includes premium amortization expense excluded from the assessment of hedge effectiveness of $119,000 and $119,000 for the three months ended September 30, 2025 and 2024, respectively, and $353,000 and $354,000 for the nine months ended September 30, 2025 and 2024, respectively.

The table below presents the carrying amount of hedged items and cumulative fair value hedging basis adjustments for the periods presented. All fair value hedges of AFS debt securities and loans at September 30, 2025 and December 31, 2024 were designated under the portfolio layer method.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| **Balance Sheet Location** | **Carrying Amount** | **Hedge Accounting Basis Adjustment** | **Hedged Portfolio Layer** | **Carrying Amount** | **Hedge Accounting Basis Adjustment** | **Hedged Portfolio Layer** |
| Debt securities AFS <sup>(1)</sup> | $971227 | $4913 | $793688 | $1002511 | $(9752) | $821507 |
| Loans and leases held for investment | 4205598 | 7829 | 2050000 | 4628030 | 7327 | 1650000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup> Carrying amount for AFS debt securities reflects amortized cost, which excludes the hedge accounting basis adjustment.

**<u>Derivatives Not Designated as Hedging Instruments</u>** 

Customer derivative positions include swaps, caps, and collars between United and certain commercial loan customers with offsetting positions to dealers under a back-to-back program. In addition, United occasionally enters into credit risk participation agreements with counterparty banks to accept or transfer a portion of the credit risk related to interest rate swaps.

United also has three interest rate swap contracts that are economic hedges of market-linked brokered certificates of deposit, which contain embedded derivatives that are bifurcated from the host instruments. The fair value marks on the swaps and the bifurcated embedded derivatives tend to move in opposite directions and therefore provide an economic hedge.

In addition, in connection with residential mortgage loans that are originated with the intention of selling them, United enters into commitments to originate residential mortgage loans and forward loan sales commitments.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The table below presents the gains and losses recognized in income on derivatives not designated as hedging instruments for the periods indicated.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Location of Gain (Loss) Recognized in Income on Derivatives** | **Amount of Gain (Loss) Recognized in Income on Derivatives** | **Amount of Gain (Loss) Recognized in Income on Derivatives** | **Amount of Gain (Loss) Recognized in Income on Derivatives** | **Amount of Gain (Loss) Recognized in Income on Derivatives** |
| | **Location of Gain (Loss) Recognized in Income on Derivatives** | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| *(in thousands)* | **Location of Gain (Loss) Recognized in Income on Derivatives** | **2025** | **2024** | **2025** | **2024** |
| Customer derivatives and dealer offsets | Other noninterest income | $1331 | $1165 | $3333 | $1371 |
| Bifurcated embedded derivatives and dealer offsets | Other noninterest income | (21) | (72) | (25) | (263) |
| Mortgage banking derivatives | Mortgage loan gains and other related fees | (666) | (1947) | (961) | (595) |
| Risk participations | Other noninterest income | 165 | 17 | 340 | 16 |
|  |  | $809 | $(837) | $2687 | $529 |

---

**<u>Credit-Risk-Related Contingent Features</u>** 

United manages its credit exposure on derivatives transactions by entering into a bilateral credit support agreement with each non-customer counterparty. The credit support agreements require collateralization of exposures beyond specified minimum threshold amounts. The details of these agreements, including the minimum thresholds, vary by counterparty.

United's agreements with each of its derivative counterparties provide that if either party defaults on any of its indebtedness, then it could also be declared in default on its derivative obligations. The agreements with derivative counterparties also include provisions that if not met, could result in United being declared in default. United has agreements with certain of its derivative counterparties that provide that if United fails to maintain its status as a well-capitalized institution or is subject to a prompt corrective action directive, the counterparty could terminate the derivative positions and United would be required to settle its obligations under the agreements. Derivatives that are centrally cleared do not have credit-risk-related features that would require additional collateral if United's credit rating were downgraded.

**Note 7 – Goodwill and Other Intangible Assets**

The carrying amount of goodwill and other intangible assets as of the dates indicated is summarized below*.*

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Core deposit intangible | $106984 | $100694 |
| Less: accumulated amortization | (61032) | (51141) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net core deposit intangible <sup>(1)</sup> | 45952 | 49553 |
| Goodwill | 925119 | 907090 |
| Total goodwill and other intangible assets, net | $971071 | $956643 |

---

<sup>(1)</sup> As intangible assets become fully amortized, they are excluded from balances presented.

The following table summarizes the changes in the carrying amount of goodwill for the periods indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Balance, beginning of period | $925119 | $916153 | $907090 | $919914 |
| Acquisition of ANB <sup>(1)</sup> |  |  | 18029 |  |
| Measurement period adjustment - First Miami |  |  |  | 1339 |
| FinTrust goodwill write-down |  |  |  | (5100) |
| Balance, end of period | $925119 | $916153 | $925119 | $916153 |

---

<sup>(1)</sup> See Note 3 for further details.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

The estimated aggregate amortization expense for future periods for finite-lived intangibles is as follows:

---

| | |
|:---|:---|
| *(in thousands)* |  |
| **Year** |  |
| Remainder of 2025 | $3188 |
| 2026 | 11501 |
| 2027 | 9498 |
| 2028 | 7592 |
| 2029 | 5835 |
| Thereafter | 8338 |
| Total | $45952 |

---

**Note 8 – Assets and Liabilities Measured at Fair Value** 

Accounting standards define fair value as the price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date. Fair values are categorized within a three-level measurement hierarchy:

*Level 1* Valuation is based upon quoted prices (unadjusted) in active markets for identical assets or liabilities that United has the ability to access.

*Level 2* Valuation is based upon quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.

*Level 3* Valuation is generated from model-based techniques that use at least one significant assumption based on unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity.

United has processes in place to review the significant valuation inputs and to assesses on a quarterly basis how instruments are classified within the valuation framework. Transfers into or out of fair value hierarchy levels are made as the observability of input assumptions change. During the nine months ended September 30, 2025, there were no changes to valuation approaches or techniques that warranted a hierarchy level change.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Assets and Liabilities Measured at Fair Value on a Recurring Basis</u>**

The table below presents United's assets and liabilities measured at fair value on a recurring basis as of the dates indicated, aggregated by the level in the fair value hierarchy within which those measurements fall.

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands)* |  |  |  |  |
| **September 30, 2025** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AFS debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasuries | $410758 | $— | $— | $410758 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government agencies & GSEs |  | 280921 |  | 280921 |
| &nbsp;&nbsp;&nbsp;&nbsp;State and political subdivisions |  | 155397 |  | 155397 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential MBS |  | 1863040 |  | 1863040 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial MBS |  | 743028 |  | 743028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds |  | 137855 | 489 | 138344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities |  | 297775 |  | 297775 |
| &nbsp;&nbsp;&nbsp;Equity securities |  | 2328 |  | 2328 |
| &nbsp;&nbsp;&nbsp;Mortgage loans held for sale |  | 34802 |  | 34802 |
| &nbsp;&nbsp;&nbsp;Mutual funds | 15567 |  |  | 15567 |
| &nbsp;&nbsp;&nbsp;Servicing rights for SBA/USDA loans |  |  | 4822 | 4822 |
| &nbsp;&nbsp;&nbsp;Residential mortgage servicing rights |  |  | 40792 | 40792 |
| &nbsp;&nbsp;&nbsp;Contingent consideration receivable |  |  | 7236 | 7236 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments |  | 30019 | 8410 | 38429 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $426325 | $3545165 | $61749 | $4033239 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deferred compensation plan liability | $15569 | $— | $— | $15569 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments |  | 47853 | 8706 | 56559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $15569 | $47853 | $8706 | $72128 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands)* |  |  |  |  |
| **December 31, 2024** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AFS debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasuries | $503669 | $— | $— | $503669 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government agencies & GSEs |  | 320267 |  | 320267 |
| &nbsp;&nbsp;&nbsp;&nbsp;State and political subdivisions |  | 158232 |  | 158232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential MBS |  | 2229959 |  | 2229959 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial MBS |  | 822897 |  | 822897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate bonds |  | 150394 | 2226 | 152620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-backed securities |  | 248647 |  | 248647 |
| &nbsp;&nbsp;&nbsp;Equity securities |  | 2341 |  | 2341 |
| &nbsp;&nbsp;&nbsp;Mortgage loans held for sale |  | 57534 |  | 57534 |
| &nbsp;&nbsp;&nbsp;Mutual funds | 15335 |  |  | 15335 |
| &nbsp;&nbsp;&nbsp;Servicing rights for SBA/USDA loans |  |  | 4697 | 4697 |
| &nbsp;&nbsp;&nbsp;Residential mortgage servicing rights |  |  | 39294 | 39294 |
| &nbsp;&nbsp;&nbsp;Contingent consideration receivable |  |  | 7470 | 7470 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments |  | 35227 | 11656 | 46883 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $519004 | $4025498 | $65343 | $4609845 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deferred compensation plan liability | $15331 | $— | $— | $15331 |
| &nbsp;&nbsp;&nbsp;Derivative financial instruments |  | 65548 | 12286 | 77834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $15331 | $65548 | $12286 | $93165 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

***Level 3 Fair Value Measurements***

The following table presents quantitative information about significant unobservable inputs related to United's material categories of Level 3 financial instruments measured at fair value on a recurring basis as of the dates indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Level 3 Assets and Liabilities** | **Valuation Technique** | **Significant Unobservable Inputs** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| | | | **Range** | **Weighted Average** | **Range** | **Weighted Average** |
| Residential mortgage servicing rights | Discounted cash flow | Discount rate | 9.5% - 12.5% | 9.6% | 10.0% - 14.0% | 10.1% |
|  |  | Prepayment rate | 6.5 - 25.2 | 7.6 | 6.5 - 77.6 | 7.6 |
| Derivative assets - mortgage | Internal model | Pull through rate | 65.0 - 100 | 91.6 | 70.4 - 100 | 91.6 |
| Derivative assets and liabilities - other | Dealer priced | Dealer priced | N/A | N/A | N/A | N/A |
| Contingent consideration receivable | Discounted cash flow | Discount rate | 0.0 - 7.1 | 6.4 | 0.0 - 7.1 | 6.4 |
|  |  | Probability of achievement | 89.3 - 100 | 92.6 | 89.3 - 100 | 92.6 |

---

The table below presents a reconciliation of the beginning and ending balances of Level 3 assets and liabilities measured at fair value on a recurring basis for the periods indicated.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(in thousands)* | **Derivative<br>Assets** | **Derivative<br>Liabilities** | **SBA/USDA Loan Servicing Rights** | **Residential Mortgage Servicing Rights** | **Corporate Bonds** | **Contingent Consideration Receivable** | **Derivative<br>Assets** | **Derivative<br>Liabilities** | **SBA/USDA Loan Servicing Rights** | **Residential Mortgage Servicing Rights** | **Corporate Bonds** |
| **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |  |  |  |  |  |  |  |  |  |
| Beginning balance | $9130 | $9217 | $4806 | $39677 | $1235 | $7297 | $12933 | $13313 | $5247 | $38014 | $2197 |
| &nbsp;&nbsp;&nbsp;Additions | 1202 |  | 288 | 1439 |  |  | 1274 | 58 | 235 | 1091 |  |
| &nbsp;&nbsp;&nbsp;Sales and settlements | (1464) |  | (118) | (689) | (750) | (61) | (2064) |  | (197) | (1095) |  |
| &nbsp;&nbsp;&nbsp;Fair value adjustments included in OCI |  |  |  |  | 4 |  |  |  |  |  | 29 |
| &nbsp;&nbsp;&nbsp;Fair value adjustments included in earnings | (458) | (511) | (154) | 365 |  |  | (1988) | (2814) | (348) | (2632) |  |
| Ending balance | $8410 | $8706 | $4822 | $40792 | $489 | $7236 | $10155 | $10557 | $4937 | $35378 | $2226 |
| **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |  |  |  |  |  |  |  |  |  |
| Beginning balance | $11656 | $12286 | $4697 | $39294 | $2226 | $7470 | $10642 | $11172 | $5444 | $35897 | $2205 |
| &nbsp;&nbsp;&nbsp;Additions | 4447 | 321 | 1140 | 3931 |  |  | 4102 | 58 | 750 | 2869 |  |
| &nbsp;&nbsp;&nbsp;Transfers from Level 2 |  |  |  |  |  |  | 484 | 925 |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales and settlements | (4059) |  | (476) | (1950) | (1750) | (234) | (4381) |  | (751) | (2892) |  |
| &nbsp;&nbsp;&nbsp;Fair value adjustments included in OCI |  |  |  |  | 13 |  |  |  |  |  | 21 |
| &nbsp;&nbsp;&nbsp;Fair value adjustments included in earnings | (3634) | (3901) | (539) | (483) |  |  | (692) | (1598) | (506) | (496) |  |
| Ending balance | $8410 | $8706 | $4822 | $40792 | $489 | $7236 | $10155 | $10557 | $4937 | $35378 | $2226 |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**<u>Fair Value Option</u>**

United generally records mortgage loans held for sale at fair value under the fair value option. Interest income on these loans is calculated based on the note rate of the loan and is recorded in interest revenue. The following tables present the fair value and outstanding principal balance of loans accounted for under the fair value option, as well as the gain or loss recognized from the change in fair value for the periods indicated.

---

| | | |
|:---|:---|:---|
| **Mortgage Loans Held for Sale** | **Mortgage Loans Held for Sale** | **Mortgage Loans Held for Sale** |
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Outstanding principal balance | $33814 | $56097 |
| Fair value | 34802 | 57534 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale** | **Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale** | **Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale** | **Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale** | **Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale** |
| **Location** | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Mortgage loan (losses) gains and other related fees | $(270) | $180 | $(449) | $352 |

---

Changes in fair value were mostly offset by hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk.

**<u>Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis</u>**

United may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of the lower of the amortized cost or fair value accounting or write-downs of individual assets due to impairment. The following table presents the fair value hierarchy and carrying value of assets that were still held as of September 30, 2025 and December 31, 2024, for which a nonrecurring fair value adjustment was recorded during the year-to-date periods presented.

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in thousands)* | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **September 30, 2025** |  |  |  |  |
| Loans held for investment | $— | $— | $23538 | $23538 |
| **December 31, 2024** |  |  |  |  |
| Loans held for investment | $— | $— | $27313 | $27313 |

---

Loans held for investment that are reported above are generally impaired loans that have either been partially charged off or have specific reserves assigned to them.

**<u>Assets and Liabilities Not Measured at Fair Value</u>** 

The following disclosure provides estimated fair values for financial instruments not carried at fair value on the Consolidated Balance Sheets. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect the premium or discount on any particular financial instrument that could result from the sale of United's entire holdings. All estimates are inherently subjective in nature. Changes in assumptions could significantly affect the estimates.

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Fair Value Level** | **Fair Value Level** | **Fair Value Level** | **Fair Value Level** |
| *(in thousands)* | **Carrying Amount** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **September 30, 2025** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;HTM debt securities | $2274099 | $18880 | $1918173 | $— | $1937053 |
| &nbsp;&nbsp;&nbsp;Loans and leases, net | 18959003 |  |  | 18399997 | 18399997 |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 24020618 |  | 24014897 |  | 24014897 |
| &nbsp;&nbsp;&nbsp;Long-term debt | 155251 |  |  | 152675 | 152675 |
| **December 31, 2024** |  |  |  |  |  |
| Assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;HTM debt securities | $2368107 | $18162 | $1925964 | $— | $1944126 |
| &nbsp;&nbsp;&nbsp;Loans and leases, net | 17968982 |  |  | 17325630 | 17325630 |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 23460975 |  | 23453487 |  | 23453487 |
| &nbsp;&nbsp;&nbsp;Long-term debt | 254152 |  |  | 248657 | 248657 |

---

**Note 9 – Reclassifications Out of AOCI**

The following table presents the details regarding amounts reclassified out of AOCI for the periods indicated. Amounts shown in parentheses reduce earnings.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in thousands)* |  |  |  |  |  |
| **Details about AOCI Components** | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Affected Line Item in the Statement Where Net Income is Presented** |
| **Details about AOCI Components** | **2025** | **2024** | **2025** | **2024** | **Affected Line Item in the Statement Where Net Income is Presented** |
| Realized net gains on AFS securities: | Realized net gains on AFS securities: | Realized net gains on AFS securities: | Realized net gains on AFS securities: | Realized net gains on AFS securities: | Realized net gains on AFS securities: |
|  | $49 | $— | $341 | $— | Securities gains, net |
|  | (13) |  | (83) |  | Income tax expense |
|  | $36 | $— | $258 | $— | Net of tax |
| Amortization of unrealized losses on HTM securities transferred from AFS: | Amortization of unrealized losses on HTM securities transferred from AFS: | Amortization of unrealized losses on HTM securities transferred from AFS: | Amortization of unrealized losses on HTM securities transferred from AFS: | Amortization of unrealized losses on HTM securities transferred from AFS: | Amortization of unrealized losses on HTM securities transferred from AFS: |
|  | $(1993) | $(2235) | $(5918) | $(6772) | Investment securities interest revenue |
|  | 471 | 528 | 1400 | 1723 | Income tax expense |
|  | $(1522) | $(1707) | $(4518) | $(5049) | Net of tax |
| Reclassifications related to derivative instruments accounted for as cash flow hedges: | Reclassifications related to derivative instruments accounted for as cash flow hedges: | Reclassifications related to derivative instruments accounted for as cash flow hedges: | Reclassifications related to derivative instruments accounted for as cash flow hedges: | Reclassifications related to derivative instruments accounted for as cash flow hedges: | Reclassifications related to derivative instruments accounted for as cash flow hedges: |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | $1143 | $1441 | $3393 | $4319 | Long-term debt interest expense |
|  | (289) | (364) | (857) | (1095) | Income tax expense |
|  | $854 | $1077 | $2536 | $3224 | Net of tax |
| Amortization of defined benefit pension plan net periodic pension cost components: | Amortization of defined benefit pension plan net periodic pension cost components: | Amortization of defined benefit pension plan net periodic pension cost components: | Amortization of defined benefit pension plan net periodic pension cost components: | Amortization of defined benefit pension plan net periodic pension cost components: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Prior service cost | $17 | $(44) | $51 | $(134) | Salaries and employee benefits expense |
|  | (4) | 11 | (13) | 34 | Income tax expense |
|  | $13 | $(33) | $38 | $(100) | Net of tax |
| Total reclassifications for the period | $(619) | $(663) | $(1686) | $(1925) | Net of tax |

---

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**Note 10 – Earnings Per Share**

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| *(in thousands, except per share data)* | **2025** | **2024** | **2025** | **2024** |
| Net income | $91494 | $47347 | $241640 | $176593 |
| Dividends on preferred stock | (1573) | (1573) | (4719) | (4719) |
| Deemed dividend on redemption of preferred stock | (3275) |  | (3275) |  |
| Earnings allocated to participating securities | (507) | (272) | (1356) | (988) |
| Net income available to common shareholders | $86139 | $45502 | $232290 | $170886 |
| **Weighted average shares outstanding:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 122116 | 119818 | 121186 | 119736 |
| &nbsp;&nbsp;&nbsp;Effect of dilutive securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock options | 63 | 84 | 69 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted stock units | 73 | 50 | 48 | 16 |
| &nbsp;&nbsp;&nbsp;Diluted | 122252 | 119952 | 121303 | 119827 |
| **Net income per common share:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.71 | $0.38 | $1.92 | $1.43 |
| &nbsp;&nbsp;&nbsp;Diluted | $0.70 | $0.38 | $1.91 | $1.43 |

---

No potentially dilutive shares of common stock issuable upon exercise of stock options were excluded from the computation of earnings per share because of their antidilutive effect, except for 1,968 shares for nine months ended September 30, 2024.

**Note 11 – Regulatory Matters**

As of September 30, 2025, United and the Bank were categorized as well-capitalized under the regulatory requirements in effect at that time. To be categorized as well-capitalized, United and the Bank must have exceeded the well-capitalized guideline ratios in effect at the time, as set forth in the table below, and have met certain other requirements. Management believes that United and the Bank exceeded all well-capitalized requirements at September 30, 2025, and there have been no conditions or events since quarter-end that would change the status of well-capitalized.

Regulatory capital ratios at September 30, 2025 and December 31, 2024, along with the minimum amounts required for capital adequacy purposes and to be well-capitalized under regulatory requirements in effect at such times, are presented below for United and the Bank:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | **United Community Banks, Inc.<br>(Consolidated)** | **United Community Banks, Inc.<br>(Consolidated)** | **United Community Bank** | **United Community Bank** |
| *(dollars in thousands)* | **Minimum** <sup>(1)</sup> | **Well-<br>Capitalized** | **September 30,<br>2025** | **December 31, <br>2024** | **September 30,<br>2025** | **December 31, <br>2024** |
| Risk-based ratios: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CET1 capital | 4.5% | 6.5% | 13.44% | 13.27% | 12.48% | 13.05% |
| &nbsp;&nbsp;&nbsp;Tier 1 capital | 6.0 | 8.0 | 13.44 | 13.72 | 12.48 | 13.05 |
| &nbsp;&nbsp;&nbsp;Total capital | 8.0 | 10.0 | 14.79 | 15.17 | 13.53 | 14.08 |
| Leverage ratio | 4.0 | 5.0 | 10.26 | 9.96 | 9.52 | 9.46 |
| CET1 capital |  |  | $2791739 | $2608136 | $2583132 | $2555941 |
| Tier 1 capital |  |  | 2791739 | 2696402 | 2583132 | 2555941 |
| Total capital |  |  | 3073175 | 2982273 | 2799568 | 2756811 |
| Risk-weighted assets |  |  | 20774042 | 19655227 | 20696806 | 19582815 |
| Average total assets for the leverage ratio |  |  | 27207223 | 27059513 | 27138211 | 27014385 |

---

<sup>(1)</sup> As of September 30, 2025 and December 31, 2024, the minimum ratios as presented were subject to an additional capital conservation buffer of 2.50%

------

**UNITED COMMUNITY BANKS, INC. AND SUBSIDIARIES**

**Notes to Consolidated Financial Statements (Unaudited)**

**Note 12 – Preferred Stock**

On September 15, 2025, United redeemed all outstanding shares of its 6.875% Series I non-cumulative perpetual preferred stock and corresponding depositary shares, each representing a 1/1000th interest in a preferred stock share (the "Preferred Stock"). The redemption resulted in a cash payment of $91.5 million, reflecting an aggregate liquidation preference of $25,000 per share. At the time of redemption, the Preferred Stock had a carrying value of $88.3 million, which was net of issuance costs of $3.27 million. The write-off of the issuance costs associated with the Preferred Stock was considered a deemed dividend to preferred shareholders for purposes of earnings per share.

**Note 13 – Commitments and Contingencies**

United is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. United uses the same credit policies in making commitments and conditional obligations as it uses for underwriting on-balance sheet instruments. In most cases, collateral or other security is required to support financial instruments with credit risk.

The following table summarizes the contractual amount of significant off-balance sheet instruments as of the dates indicated.

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **September 30, 2025** | **December 31, 2024** |
| Financial instruments whose contract amounts represent credit risk: |  |  |
| &nbsp;&nbsp;&nbsp;Commitments to extend credit | $4632829 | $3970991 |
| &nbsp;&nbsp;&nbsp;Letters of credit | 50137 | 57983 |

---

United, in the normal course of business, is subject to various pending and threatened lawsuits in which claims for monetary damages are asserted. Although it is not possible to predict the outcome of these lawsuits, or the range of any possible loss, management, after consultation with legal counsel, does not anticipate that the ultimate aggregate liability, if any, arising from these lawsuits will have a material adverse effect on United's financial position or results of operations.

------

**Item 2.&nbsp;&nbsp;&nbsp;&nbsp;Management's Discussion and Analysis of Financial Condition and Results of Operations**

The following is a discussion of our financial condition at September 30, 2025 and December 31, 2024 and our results of operations for the three and nine months ended September 30, 2025 and 2024. The purpose of this discussion is to focus on information about our financial condition and results of operations which is not otherwise apparent from our consolidated financial statements and is intended to provide insight into our results of operations and financial condition. The following discussion and analysis should be read along with our consolidated financial statements and related notes included in Part I - Item 1 of this Report, "Cautionary Note Regarding Forward-Looking Statements" and the risk factors discussed in our 2024 10-K and the other reports we have filed with the SEC after we filed the 2024 10-K.

Unless the context otherwise requires, the terms "we," "our," "us" refer to United on a consolidated basis.

**Overview**

We offer a wide array of commercial and consumer banking services and investment advisory solutions through a network of 199 banking offices in Georgia, South Carolina, North Carolina, Tennessee, Florida and Alabama. Our equipment finance and SBA/USDA lending businesses operate throughout the United States. At September 30, 2025, we had consolidated total assets of $28.1 billion and 3,058 full-time equivalent employees.

***Recent Developments***

On September 15, 2025, we redeemed all outstanding shares of our Series I preferred stock, which had a carrying value of $88.3 million. The redemption reflects our ongoing capital management strategy.

On July 4, 2025, the U.S. enacted the One Big Beautiful Bill Act, which includes a broad range of tax reform provisions affecting businesses. Of note, the 21% corporate tax rate provided by the Tax Cuts and Jobs Act of 2017, which was scheduled to sunset on December 31, 2025, was made permanent with the passing of this law.

On May 1, 2025, we completed the acquisition of ANB, which was headquartered in Oakland Park, Florida where it operated one banking location. We acquired $447 million of assets, including goodwill, and assumed $381 million of liabilities in the acquisition, which included $301 million in loans and $374 million in deposits. Our operating results for the three and nine months ended September 30, 2025 include ANB's operating results for the period subsequent to the acquisition date.

***Results of Operations***

We reported net income and diluted earnings per common share of $91.5 million and $0.70, respectively, for the third quarter of 2025, compared to $47.3 million and $0.38, respectively, for the same period in 2024. For the nine months ended September 30, 2025, we reported net income and diluted earnings per common share of $242 million and $1.91, respectively, compared to $177 million and $1.43, respectively, in the same periods of 2024. The third quarter and first nine months of 2024 included a $27.2 million loss on the sale of substantially all of our manufactured housing loan portfolio which lowered diluted earnings per common share for those periods by approximately 18 cents, affecting comparability between 2025 and 2024.

Net income - operating and diluted earnings per common share - operating for the third quarter of 2025 were $94.2 million and $0.75, respectively, compared to $70.5 million and $0.57, respectively, for the third quarter of 2024. For the nine months ended September 30, 2025, we reported net income - operating and diluted earnings per common share - operating of $249 million and $2.00, respectively, compared to $206 million and $1.67, respectively, for the same periods of 2024. Net income - operating for the periods of 2025 excludes merger-related and other charges, while the periods of 2024 also exclude additional items, notably the loss on the sale of the manufactured housing loans of $27.2 million discussed above. See Table 1 of MD&A for the Non-GAAP Performance Measures Reconciliation for further detail.

Net interest revenue for the third quarter and first nine months of 2025 was $234 million and $671 million, respectively, compared to $209 million and $617 million, respectively, for the same periods of 2024. The increase in net interest revenue was mostly driven by lower deposit interest expense.

Net interest margin for the third quarter and first nine months of 2025 increased to 3.58% and 3.48%, respectively, from 3.33% and 3.30%, respectively, for the comparable 2024 periods. The increases in net interest margin were primarily due to the larger decrease in interest rates paid on deposits compared to the decrease in interest rates earned on loans.

------

We recorded a provision for credit losses of $7.91 million and $35.1 million for the third quarter and first nine months of 2025, respectively. The nine months ended September 30, 2025 included $2.49 million for the initial ACL for ANB non-PCD loans and unfunded commitments. Provision expense for the comparable periods of 2024 was $14.4 million and $39.6 million, respectively, and included $9.89 million for the Hurricane Helene reserve.

Noninterest income of $43.2 million and $114 million for the third quarter and first nine months of 2025 increased by $35.1 million and $29.3 million, respectively, compared to the same periods of 2024. The periods of 2024 included a $27.2 million loss on the manufactured housing loan portfolio sale. In addition, the third quarter of 2025 included more favorable fair value adjustments to our mortgage servicing asset, which resulted in a $3.00 million increase in mortgage loan gains and related fees compared to the third quarter of 2024.

Noninterest expense of $151 million and $440 million in the third quarter and first nine months of 2025 were up 5% and 1%, respectively, compared to the same periods of 2024. Salaries and employee benefits expense contributed to much of the increase for the three and nine months of 2025, reflecting the acquisition of ANB and annual merit increases as well as higher incentive compensation reflecting improvement in financial performance. The increase for the nine months ended September 30, 2025 was partially offset by a decrease in other noninterest expense as the comparable period of 2024 included a $5.10 million goodwill write-down related to the sale of FinTrust.

Results for the third quarter and first nine months of 2025 are discussed in further detail throughout the following sections of MD&A.

**Critical Accounting Estimates**

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Our accounting and reporting estimates are in accordance with GAAP and conform to customary practices within the banking industry. Estimates that are susceptible to significant changes include accounting for the ACL and fair value measurements, both of which require significant judgments by management. Actual results could differ significantly from those estimates. Also, different assumptions in the application of these accounting estimates could result in material changes in our consolidated financial position or consolidated results of operations. Our critical accounting estimates are discussed in MD&A in our 2024 10-K.

**Non-GAAP Reconciliation and Explanation**

This Report contains financial information determined by methods other than in accordance with GAAP. Such non-GAAP financial information includes the following measures: "tangible book value per common share," and "tangible common equity to tangible assets." In addition, management presents non-GAAP operating performance measures, which exclude merger-related and other items that are not part of our ongoing business operations. Operating performance measures include "noninterest income - operating," "noninterest expense - operating," "net income – operating," "diluted income per common share – operating," "tangible book value per common share," "return on common equity – operating," "return on tangible common equity – operating," "return on assets – operating," "efficiency ratio – operating" and "tangible common equity to tangible assets" We have developed internal policies and procedures to accurately capture and account for merger-related and other charges and those charges are reviewed with the Audit Committee of our Board each quarter. We use these non-GAAP measures because we believe they provide useful supplemental information for evaluating our operations and performance over periods of time, as well as in managing and evaluating our business and in discussions about our operations and performance. We believe these non-GAAP measures may also provide users of our financial information with a meaningful measure for assessing our financial results and credit trends, as well as a comparison to financial results for prior periods. Nevertheless, non-GAAP measures have inherent limitations, are not required to be uniformly applied and are not audited. These non-GAAP measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP. In addition, because non-GAAP measures are not standardized, it may not be possible to compare our non-GAAP measures to similarly titled measures used 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 in Table 1 of MD&A.

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **UNITED COMMUNITY BANKS, INC.** | **UNITED COMMUNITY BANKS, INC.** | | | | | | | | |
| **Table 1 - Financial Highlights** | | | | | | | | | |
| *(dollars in thousands, except per share data)* | **2025** | **2025** | **2025** | **2024** | **2024** | **Third Quarter** <br>**2025 - 2024 Change** | **For the Nine Months Ended September 30,** | **For the Nine Months Ended September 30,** | **YTD Change** |
|  | **Third Quarter** | **Second Quarter** | **First Quarter** | **Fourth Quarter** | **Third Quarter** | **Third Quarter** <br>**2025 - 2024 Change** | **2025** | **2024** | **YTD Change** |
| **INCOME SUMMARY** |  |  |  |  |  |  |  |  |  |
| Interest revenue | $353850 | $347365 | $335357 | $344962 | $349086 |  | $1036572 | $1032779 |  |
| Interest expense | 120221 | 121834 | 123336 | 134629 | 139900 |  | 365391 | 415744 |  |
| &nbsp;&nbsp;&nbsp;Net interest revenue | 233629 | 225531 | 212021 | 210333 | 209186 | 12% | 671181 | 617035 | 9% |
| Noninterest income | 43219 | 34708 | 35656 | 40522 | 8091 | n/m | 113583 | 84234 | 35 |
| &nbsp;&nbsp;&nbsp;**Total revenue** | 276848 | 260239 | 247677 | 250855 | 217277 | 27 | 784764 | 701269 | 12 |
| Provision for credit losses | 7907 | 11818 | 15419 | 11389 | 14428 | (45) | 35144 | 39562 | (11) |
| Noninterest expense | 150868 | 147919 | 141099 | 143056 | 143065 | 5 | 439886 | 435111 | 1 |
| &nbsp;&nbsp;&nbsp;Income before income tax expense | 118073 | 100502 | 91159 | 96410 | 59784 | 97 | 309734 | 226596 | 37 |
| Income tax expense | 26579 | 21769 | 19746 | 20606 | 12437 | 114 | 68094 | 50003 | 36 |
| &nbsp;&nbsp;&nbsp;**Net income** | 91494 | 78733 | 71413 | 75804 | 47347 | 93 | 241640 | 176593 | 37 |
| Non-operating items | 3468 | 4833 | 1297 | 2203 | 29385 | n/m | 9598 | 38065 | n/m |
| Income tax benefit of non-operating items | (751) | (1047) | (281) | (471) | (6276) | n/m | (2079) | (8231) | n/m |
| &nbsp;&nbsp;**Net income - operating** <sup>(1)</sup> | $**94211** | $**82519** | $**72429** | $**77536** | $**70456** | 34 | $**249159** | $**206427** | 21 |
| **PERFORMANCE MEASURES** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Per common share: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted net income - GAAP | $0.70 | $0.63 | $0.58 | $0.61 | $0.38 | 84 | $1.91 | $1.43 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted net income - operating <sup>(1)</sup> | 0.75 | 0.66 | 0.59 | 0.63 | 0.57 | 32 | 2.00 | 1.67 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash dividends declared | 0.25 | 0.24 | 0.24 | 0.24 | 0.24 | 4 | 0.73 | 0.70 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value | 29.44 | 28.89 | 28.42 | 27.87 | 27.68 | 6 | 29.44 | 27.68 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible book value <sup>(3)</sup> | 21.59 | 21.00 | 20.58 | 20.00 | 19.66 | 10 | 21.59 | 19.66 | 10 |
| &nbsp;&nbsp;&nbsp;Key performance ratios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on common equity - GAAP <sup>(2)(4)</sup> | 9.20% | 8.45% | 7.89% | 8.40% | 5.20% |  | 8.53% | 6.61% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on common equity - operating <sup>(1)(2)(4)</sup> | 9.83 | 8.87 | 8.01 | 8.60 | 7.82 |  | 8.92 | 7.76 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on tangible common equity - operating <sup>(1)(2)(3)(4)</sup> | 13.56 | 12.34 | 11.21 | 12.12 | 11.17 |  | 12.57 | 11.18 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on assets - GAAP <sup>(4)</sup> | 1.29 | 1.11 | 1.02 | 1.06 | 0.67 |  | 1.16 | 0.85 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on assets - operating <sup>(1)(4)</sup> | 1.33 | 1.16 | 1.04 | 1.08 | 1.01 |  | 1.19 | 0.99 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest margin (FTE) <sup>(4)</sup> | 3.58 | 3.50 | 3.36 | 3.26 | 3.33 |  | 3.48 | 3.30 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio - GAAP | 54.30 | 56.69 | 56.74 | 56.05 | 65.51 |  | 55.86 | 61.76 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio - operating <sup>(1)</sup> | 53.05 | 54.84 | 56.22 | 55.18 | 57.37 |  | 54.64 | 57.84 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity to total assets | 12.78 | 12.86 | 12.56 | 12.38 | 12.45 |  | 12.78 | 12.45 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible common equity to tangible assets <sup>(3)</sup> | 9.71 | 9.45 | 9.18 | 8.97 | 8.93 |  | 9.71 | 8.93 |  |
| **ASSET QUALITY** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;NPAs | $97916 | $83959 | $93290 | $115635 | $114960 | (15) | $97916 | $114960 | (15) |
| &nbsp;&nbsp;&nbsp;ACL - loans | 215791 | 216500 | 211974 | 206998 | 205290 | 5 | 215791 | 205290 | 5 |
| &nbsp;&nbsp;&nbsp;Net charge-offs | 7676 | 8225 | 9607 | 9517 | 23651 | n/m | 25508 | 48173 | n/m |
| &nbsp;&nbsp;&nbsp;ACL - loans to loans | 1.13% | 1.14% | 1.15% | 1.14% | 1.14% |  | 1.13% | 1.14% |  |
| &nbsp;&nbsp;Net charge-offs to average loans <sup>(4)</sup> | 0.16 | 0.18 | 0.21 | 0.21 | 0.52 |  | 0.18 | 0.35 |  |
| &nbsp;&nbsp;&nbsp;NPAs to total assets | 0.35 | 0.30 | 0.33 | 0.42 | 0.42 |  | 0.35 | 0.42 |  |
| **AT PERIOD END** *($ in millions)* |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans | $19175 | $18921 | $18425 | $18176 | $17964 | 7 | $19175 | $17964 | 7 |
| &nbsp;&nbsp;&nbsp;Investment securities | 6163 | 6382 | 6661 | 6804 | 6425 | (4) | 6163 | 6425 | (4) |
| &nbsp;&nbsp;&nbsp;Total assets | 28143 | 28086 | 27874 | 27720 | 27373 | 3 | 28143 | 27373 | 3 |
| &nbsp;&nbsp;&nbsp;Deposits | 24021 | 23963 | 23762 | 23461 | 23253 | 3 | 24021 | 23253 | 3 |
| &nbsp;&nbsp;&nbsp;Shareholders' equity | 3597 | 3613 | 3501 | 3432 | 3407 | 6 | 3597 | 3407 | 6 |
| &nbsp;&nbsp;&nbsp;Common shares outstanding (thousands) | 121553 | 121431 | 119514 | 119364 | 119283 | 2 | 121553 | 119283 | 2 |

---

<sup>(1)</sup> Excludes non-operating items as detailed on Non-GAAP Performance Measures Reconciliation on next page. <sup>(2)</sup> Net income less preferred stock dividends, divided by average realized common equity, which excludes AOCI. <sup>(3)</sup> Excludes effect of acquisition related intangibles and associated amortization. <sup>(4)</sup> Annualized.

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **UNITED COMMUNITY BANKS, INC.** | | | | | | | |
| **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** |
| **Non-GAAP Performance Measures Reconciliation** | | | | | | | |
| ***(dollars in thousands, except per share data)*** | | | | | | | |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **For the Nine Months Ended September 30,** | **For the Nine Months Ended September 30,** |
|  | **Third Quarter** | **Second Quarter** | **First Quarter** | **Fourth Quarter** | **Third Quarter** | **2025** | **2024** |
| **Noninterest income reconciliation** |  |  |  |  |  |  |  |
| Noninterest income (GAAP) | $43219 | $34708 | $35656 | $40522 | $8091 | $113583 | $84234 |
| Loss on sale of manufactured housing loans |  |  |  |  | 27209 |  | 27209 |
| Gain on lease termination |  |  |  |  |  |  | (2400) |
| &nbsp;&nbsp;Noninterest income - operating | $43219 | $34708 | $35656 | $40522 | $35300 | $113583 | $109043 |
| **Noninterest expense reconciliation** |  |  |  |  |  |  |  |
| Noninterest expense (GAAP) | $150868 | $147919 | $141099 | $143056 | $143065 | $439886 | $435111 |
| Loss on sale of FinTrust, including goodwill impairment |  |  |  |  |  |  | (5100) |
| FDIC special assessment |  |  |  |  |  |  | (1736) |
| Merger-related and other charges | (3468) | (4833) | (1297) | (2203) | (2176) | (9598) | (6420) |
| &nbsp;&nbsp;&nbsp;Noninterest expense - operating | $147400 | $143086 | $139802 | $140853 | $140889 | $430288 | $421855 |
| **Net income to operating income reconciliation** |  |  |  |  |  |  |  |
| Net income (GAAP) | $91494 | $78733 | $71413 | $75804 | $47347 | $241640 | $176593 |
| Loss on sale of manufactured housing loans |  |  |  |  | 27209 |  | 27209 |
| Gain on lease termination |  |  |  |  |  |  | (2400) |
| Loss on sale of FinTrust, including goodwill impairment |  |  |  |  |  |  | 5100 |
| FDIC special assessment |  |  |  |  |  |  | 1736 |
| Merger-related and other charges | 3468 | 4833 | 1297 | 2203 | 2176 | 9598 | 6420 |
| Income tax benefit of non-operating items | (751) | (1047) | (281) | (471) | (6276) | (2079) | (8231) |
| &nbsp;&nbsp;&nbsp;Net income - operating | $94211 | $82519 | $72429 | $77536 | $70456 | $249159 | $206427 |
| **Diluted income per common share reconciliation** |  |  |  |  |  |  |  |
| 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 |  |  |  |  |  |  | (0.02) |
| 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 |  |
| &nbsp;&nbsp;&nbsp;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** |  |  |  |  |  |  |  |
| Book value per common share (GAAP) | $29.44 | $28.89 | $28.42 | $27.87 | $27.68 | $29.44 | $27.68 |
| Effect of goodwill and other intangibles | (7.85) | (7.89) | (7.84) | (7.87) | (8.02) | (7.85) | (8.02) |
| &nbsp;&nbsp;&nbsp;Tangible book value per common share | $21.59 | $21.00 | $20.58 | $20.00 | $19.66 | $21.59 | $19.66 |
| **Return on tangible common equity reconciliation** |  |  |  |  |  |  |  |
| 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 |
| Effect of goodwill and other intangibles | 3.73 | 3.47 | 3.20 | 3.52 | 3.35 | 3.65 | 3.42 |
| &nbsp;&nbsp;&nbsp;Return on tangible common equity - operating | 13.56% | 12.34% | 11.21% | 12.12% | 11.17% | 12.57% | 11.18% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **UNITED COMMUNITY BANKS, INC.** | | | | | | | |
| **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** | **Table 1 (Continued) - Financial Highlights** |
| **Non-GAAP Performance Measures Reconciliation** | | | | | | | |
| ***(dollars in thousands, except per share data)*** | | | | | | | |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **For the Nine Months Ended September 30,** | **For the Nine Months Ended September 30,** |
|  | **Third Quarter** | **Second Quarter** | **First Quarter** | **Fourth Quarter** | **Third Quarter** | **2025** | **2024** |
| **Return on assets reconciliation** |  |  |  |  |  |  |  |
| 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 |  |  |  |  |  |  | (0.01) |
| Loss on sale of FinTrust, including goodwill impairment |  |  |  |  |  |  | 0.02 |
| FDIC special assessment |  |  |  |  |  |  | 0.01 |
| Merger-related and other charges | 0.04 | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.02 |
| &nbsp;&nbsp;&nbsp;Return on assets - operating | 1.33% | 1.16% | 1.04% | 1.08% | 1.01% | 1.19% | 0.99% |
| **Efficiency ratio reconciliation** |  |  |  |  |  |  |  |
| 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) |
| &nbsp;&nbsp;&nbsp;Efficiency ratio - operating | 53.05% | 54.84% | 56.22% | 55.18% | 57.37% | 54.64% | 57.84% |
| **Tangible common equity to tangible assets reconciliation** |  |  |  |  |  |  |  |
| 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) |
| &nbsp;&nbsp;&nbsp;Tangible common equity to tangible assets | 9.71% | 9.45% | 9.18% | 8.97% | 8.93% | 9.71% | 8.93% |

---

**Net Interest Revenue**

***For the quarter:***

FTE net interest revenue for the third quarter of 2025 was $235 million, an increase of $24.4 million from the same period in 2024. Net interest spread and net interest margin were 2.73% and 3.58%, respectively, which were up 43 basis points and 25 basis points, respectively, compared to the third quarter of 2024. Improvement in the net interest spread and net interest margin resulted from cuts of 125 basis points in the federal funds rate beginning in September of 2024, which drove decreases in funding costs, and to a lesser extent, loan yields.

***For the nine months ended:***

FTE net interest revenue for the first nine months of 2025 and 2024 was $674 million and $620 million, respectively. During the first nine months of 2025, our net interest spread increased 35 basis points and our net interest margin increased by 18 basis points compared to the same period of 2024. Changes in net interest revenue and related metrics for the nine months ended 2025 were a result of the same factors affecting the quarter.

------

---

| |
|:---|
| **Table 2 - Average Consolidated Balance Sheets and Net Interest Analysis** |
| For the Three Months Ended September 30, |
| *(dollars in thousands, (FTE))* |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **Average Balance** | **Interest** | **Average Rate** | **Average Balance** | **Interest** | **Average Rate** |
| **Assets:** |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans, net of unearned income (FTE) <sup>(1)(2)</sup> | $19010663 | $297725 | 6.21% | $18051741 | $291164 | 6.42% |
| &nbsp;&nbsp;Taxable securities <sup>(3)</sup> | 6217693 | 51522 | 3.31 | 6182164 | 51284 | 3.32 |
| &nbsp;&nbsp;Tax-exempt securities (FTE) <sup>(1)(3)</sup> | 351528 | 2249 | 2.56 | 361359 | 2292 | 2.54 |
| &nbsp;&nbsp;&nbsp;Federal funds sold and other interest-earning assets | 413678 | 3389 | 3.25 | 505792 | 5440 | 4.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets (FTE)** | 25993562 | 354885 | 5.42 | 25101056 | 350180 | 5.55 |
| Noninterest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses | (220805) |  |  | (215008) |  |  |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | 206772 |  |  | 206995 |  |  |
| &nbsp;&nbsp;&nbsp;Premises and equipment | 397490 |  |  | 399262 |  |  |
| &nbsp;&nbsp;Other assets <sup>(3)</sup> | 1664648 |  |  | 1615468 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $28041667 |  |  | $27107773 |  |  |
| **Liabilities and Shareholders' Equity:** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;NOW and interest-bearing demand | $5825997 | 35050 | 2.39 | $5797845 | 43401 | 2.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 6907894 | 50661 | 2.91 | 6342455 | 56874 | 3.57 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 1107509 | 641 | 0.23 | 1126774 | 672 | 0.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time | 3656172 | 31602 | 3.43 | 3465980 | 34560 | 3.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokered time deposits | 50529 | 521 | 4.09 | 50364 | 642 | 5.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 17548101 | 118475 | 2.68 | 16783418 | 136149 | 3.23 |
| &nbsp;&nbsp;&nbsp;Federal funds purchased and other borrowings | 2284 | 25 | 4.34 | 1899 | 27 | 5.66 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances |  |  |  | 11 |  |  |
| &nbsp;&nbsp;&nbsp;Long-term debt | 155197 | 1721 | 4.40 | 323544 | 3724 | 4.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 157481 | 1746 | 4.40 | 325454 | 3751 | 4.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 17705582 | 120221 | 2.69 | 17108872 | 139900 | 3.25 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 6366723 |  |  | 6239926 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 334443 |  |  | 391574 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 24406748 |  |  | 23740372 |  |  |
| Shareholders' equity | 3634919 |  |  | 3367401 |  |  |
| &nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $28041667 |  |  | $27107773 |  |  |
| **Net interest revenue (FTE)** |  | $234664 |  |  | $210280 |  |
| Net interest-rate spread (FTE) |  |  | 2.73% |  |  | 2.30% |
| Net interest margin (FTE) <sup>(4)</sup> |  |  | 3.58% |  |  | 3.33% |

---

<sup>(1)</sup> Interest revenue on tax-exempt securities and loans includes a taxable-equivalent adjustment to reflect comparable interest on taxable securities and loans. The FTE adjustment totaled $1.04 million and $1.09 million, respectively, for the three months ended September 30, 2025 and 2024. The tax rate used to calculate the adjustment was 25%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

<sup>(2)</sup> 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.

<sup>(3)</sup> Unrealized losses on AFS securities, including those related to the transfer from AFS to HTM, have been reclassified to other assets. Pretax unrealized losses of $223 million in 2025 and $295 million in 2024 are included in other assets for purposes of this presentation.

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

------

---

| |
|:---|
| **Table 3 - Average Consolidated Balance Sheets and Net Interest Analysis** |
| For the Nine Months Ended September 30, |
| *(dollars in thousands, (FTE))* |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | **Average Balance** | **Interest** | **Average Rate** | **Average Balance** | **Interest** | **Average Rate** |
| **Assets:** |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans, net of unearned income (FTE) <sup>(1)(2)</sup> | $18632384 | $859678 | 6.17% | $18187790 | $866502 | 6.36% |
| &nbsp;&nbsp;Taxable securities <sup>(3)</sup> | 6480641 | 162885 | 3.35 | 5988368 | 144363 | 3.21 |
| &nbsp;&nbsp;Tax-exempt securities (FTE) <sup>(1)(3)</sup> | 354115 | 6730 | 2.53 | 363692 | 6876 | 2.52 |
| &nbsp;&nbsp;&nbsp;Federal funds sold and other interest-earning assets | 422123 | 10288 | 3.26 | 559786 | 18256 | 4.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets (FTE)** | 25889263 | 1039581 | 5.37 | 25099636 | 1035997 | 5.51 |
| Non-interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Allowance for loan losses | (217050) |  |  | (214372) |  |  |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | 210027 |  |  | 210982 |  |  |
| &nbsp;&nbsp;&nbsp;Premises and equipment | 397395 |  |  | 392561 |  |  |
| &nbsp;&nbsp;Other assets <sup>(3)</sup> | 1637493 |  |  | 1613118 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $27917128 |  |  | $27101925 |  |  |
| **Liabilities and Shareholders' Equity:** |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;NOW and interest-bearing demand | $6002702 | 109396 | 2.44 | $5913566 | 133522 | 3.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 6713585 | 149805 | 2.98 | 6092649 | 160883 | 3.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 1133078 | 2722 | 0.32 | 1159982 | 2065 | 0.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time | 3545792 | 93029 | 3.51 | 3535343 | 106199 | 4.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokered time deposits | 50488 | 1593 | 4.22 | 50343 | 1726 | 4.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 17445645 | 356545 | 2.73 | 16751883 | 404395 | 3.22 |
| &nbsp;&nbsp;&nbsp;Federal funds purchased and other borrowings | 29865 | 1215 | 5.44 | 2001 | 87 | 5.81 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 12824 | 433 | 4.51 | 5 |  |  |
| &nbsp;&nbsp;&nbsp;Long-term debt | 215440 | 7198 | 4.47 | 324414 | 11262 | 4.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 258129 | 8846 | 4.58 | 326420 | 11349 | 4.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 17703774 | 365391 | 2.76 | 17078303 | 415744 | 3.25 |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 6304792 |  |  | 6306919 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 350211 |  |  | 394323 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 24358777 |  |  | 23779545 |  |  |
| Shareholders' equity | 3558351 |  |  | 3322380 |  |  |
| &nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $27917128 |  |  | $27101925 |  |  |
| **Net interest revenue (FTE)** |  | $674190 |  |  | $620253 |  |
| Net interest-rate spread (FTE) |  |  | 2.61% |  |  | 2.26% |
| Net interest margin (FTE) <sup>(4)</sup> |  |  | 3.48% |  |  | 3.30% |

---

<sup>(1)</sup> 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 $3.01 million and $3.22 million, respectively, for the nine months ended September 30, 2025 and 2024. The tax rate used to calculate the adjustment was 25%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

<sup>(2)</sup> 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.

<sup>(3)</sup> 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 $244 million and $320 million in 2025 and 2024, respectively, are included in other assets for purposes of this presentation.

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

------

***Noninterest Income***

The following table presents the components of noninterest income for the periods indicated.

---

| |
|:---|
| **Table 4 - Noninterest Income** |
| *(dollars in thousands)* |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Change** | **Change** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **Amount** | **Percent** | **2025** | **2024** | **Amount** | **Percent** |
| Service charges and fees: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Overdraft fees | $3573 | $3603 | $(30) | (1)% | $9894 | $9977 | $(83) | (1)% |
| &nbsp;&nbsp;&nbsp;ATM and debit card fees | 4232 | 3833 | 399 | 10 | 11987 | 11277 | 710 | 6 |
| &nbsp;&nbsp;&nbsp;Other service charges and fees | 3595 | 3052 | 543 | 18 | 9176 | 9118 | 58 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total service charges and fees | 11400 | 10488 | 912 | 9 | 31057 | 30372 | 685 | 2 |
| Mortgage loan gains and related fees | 7098 | 3520 | 3578 | n/m | 18590 | 17830 | 760 | 4 |
| Wealth management fees | 4757 | 6338 | (1581) | (25) | 13622 | 19037 | (5415) | (28) |
| Net gains (losses) on sales of other loans | 2385 | (25700) | 28085 | n/m | 5776 | (22867) | 28643 | n/m |
| Lending and loan servicing fees | 4235 | 3512 | 723 | 21 | 12090 | 11050 | 1040 | 9 |
| Securities gains, net | 49 |  | 49 | n/m | 341 |  | 341 | n/m |
| Other noninterest income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Customer derivative fees | 1454 | 1139 | 315 | 28 | 3611 | 1577 | 2034 | n/m |
| &nbsp;&nbsp;&nbsp;Other investment income | 2233 | 1182 | 1051 | n/m | 2304 | 4130 | (1826) | n/m |
| &nbsp;&nbsp;&nbsp;BOLI | 3557 | 2571 | 986 | 38 | 7692 | 7375 | 317 | 4 |
| &nbsp;&nbsp;Treasury management income | 2197 | 1755 | 442 | 25 | 6155 | 4943 | 1212 | 25 |
| &nbsp;&nbsp;&nbsp;Other | 3854 | 3286 | 568 | 17 | 12345 | 10787 | 1558 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other noninterest income | 13295 | 9933 | 3362 | 34 | 32107 | 28812 | 3295 | 11 |
| &nbsp;&nbsp;&nbsp;Total noninterest income | $43219 | $8091 | $35128 | n/m | $113583 | $84234 | $29349 | 35 |

---

The increase in mortgage loan gains and related fees for the three months ended September 30, 2025 compared to the same period of 2024 was primarily a result of more favorable fair value adjustments to our mortgage servicing asset which provided an increase of $3.00 million compared to 2024. The following table provides an overview of mortgage metrics for the periods presented.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** | **Table 5 - Mortgage Loan Metrics** |
| *(dollars in thousands)* | *(dollars in thousands)* | *(dollars in thousands)* | *(dollars in thousands)* | *(dollars in thousands)* | *(dollars in thousands)* | *(dollars in thousands)* |
|  | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
|  | **2025** | **2024** | **% Change** | **2025** | **2024** | **% Change** |
| Mortgage rate locks | $377494 | $306281 | 23% | $1066455 | $860793 | 24% |
| Mortgage loans sold | $174859 | $171692 | 2 | $491020 | $442282 | 11 |
| Mortgage loans originated: |  |  |  |  |  |  |
| &nbsp;&nbsp;Purchases | $241159 | $212470 | 14 | $656026 | $551755 | 19 |
| &nbsp;&nbsp;Refinances | 41497 | 26186 | 58 | 98892 | 72737 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $282656 | $238656 | 18 | $754918 | $624492 | 21 |

---

The decrease in wealth management fees reflects the decrease in assets under management and advisement as a result of the FinTrust sale in the fourth quarter of 2024. Assets under management and advisement totaled $3.46 billion and $5.59 billion at September 30, 2025 and 2024, respectively.

The change in gains on sales of other loans for the three and nine months ended September 30, 2025 was primarily driven by the periods of 2024 including a $27.2 million loss on the sale of substantially all of our manufactured housing portfolio.

------

Customer derivative fees for the three and nine months ended September 30, 2025 were up due to stronger loan growth and increased product demand, attributable to the lower interest rate environment compared to the same periods of 2024.

During the third quarter of 2025, other investment income increased, due to stronger investment performance, particularly our limited partnership and mutual fund investments, compared to the same period of 2024. The decrease for the nine months ended September 30, 2025 was driven by weaker market conditions during the first six months of 2025, particularly related to our mutual fund and other equity investments. Our other investment portfolio includes mutual funds, equity securities, fintech and other limited partnership investments. Gains and losses from these investments are generally unrealized.

The increase in BOLI earnings during the third quarter of 2025 was driven by higher death benefits received during the period compared to the third quarter of 2024.

The increase in other noninterest income was largely driven by a positive change in collateral charges related to derivative positions.

***Provision for Credit Losses***

We recorded provisions for credit losses of $7.91 million and $35.1 million for the three and nine months ended September 30, 2025, compared to $14.4 million and $39.6 million for the same periods of 2024. The provision expense for the three and nine months ended September 30, 2025 reflected the partial release of the 2024 Hurricane Helene reserve of $2.54 million and $7.92 million, respectively. In addition, provision expense for the nine months ended September 30, 2025 included $2.49 million for ANB's non-PCD loans and unfunded commitments. The three and nine months ended September 30, 2024 included $9.89 million of provision expense related to the establishment of the Hurricane Helene reserve.

Additional discussion on credit quality and the ACL is included in the "Asset Quality and Risk Elements" section of MD&A in this Report.

***Noninterest Expense***

The following table presents the components of noninterest expense for the periods indicated.

---

| |
|:---|
| **Table 6 - Noninterest Expense** |
| *(dollars in thousands)* |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Change** | **Change** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Change** | **Change** |
| | **2025** | **2024** | **Amount** | **Percent** | **2025** | **2024** | **Amount** | **Percent** |
| Salaries and employee benefits | $90667 | $83533 | $7134 | 9% | $261931 | $254336 | $7595 | 3% |
| Communications and equipment | 13937 | 12626 | 1311 | 10 | 40968 | 36534 | 4434 | 12 |
| Occupancy | 11502 | 11311 | 191 | 2 | 33366 | 33466 | (100) |  |
| Advertising and public relations | 2053 | 2041 | 12 | 1 | 6815 | 6401 | 414 | 6 |
| Postage, printing and supplies | 2735 | 2477 | 258 | 10 | 7791 | 7376 | 415 | 6 |
| Professional fees | 6282 | 6432 | (150) | (2) | 17822 | 18464 | (642) | (3) |
| Lending and loan servicing expense | 2428 | 2227 | 201 | 9 | 6745 | 6068 | 677 | 11 |
| Outside services - electronic banking | 3543 | 4433 | (890) | (20) | 9876 | 10163 | (287) | (3) |
| FDIC assessments and other regulatory charges | 4846 | 5003 | (157) | (3) | 14233 | 17036 | (2803) | (16) |
| Amortization of intangibles | 3313 | 3528 | (215) | (6) | 9891 | 11209 | (1318) | (12) |
| Merger-related and other charges | 3468 | 2176 | 1292 | n/m | 9598 | 6420 | 3178 | n/m |
| Other | 6094 | 7278 | (1184) | (16) | 20850 | 27638 | (6788) | (25) |
| &nbsp;&nbsp;&nbsp;Total noninterest expense | $150868 | $143065 | $7803 | 5 | $439886 | $435111 | $4775 | 1 |

---

The increase in salaries and employee benefits for the third quarter and first nine months of 2025 compared to the same periods of 2024 was mostly driven by annual merit increases that went into effect on April 1, 2025, higher performance-related incentive compensation and the addition of ANB employees on May 1, 2025.

------

Communications and equipment expense for the third quarter and first nine months of 2025 compared to the same periods of 2024 increased primarily due to new software contracts and incremental software contract costs on existing contracts, including volume based increases.

FDIC assessments and other regulatory charges decreased for the first nine months of 2025 as the comparative period of 2024 included $1.74 million of FDIC special assessment accrued expense.

The decrease in amortization of intangibles was primarily driven by the natural decline in amortization expense of our core deposit intangibles over time. This decrease was partially offset by ANB core deposit intangible amortization expense starting in May 2025.

The increase in merger-related and other charges for the third quarter and first nine months of 2025 was primarily driven by ANB merger-related costs.

Other noninterest expense for the nine months ended 2025 decreased compared to the same period of last year as 2024 included a goodwill write-down of $5.10 million related to the sale of FinTrust. In addition, for the three and nine months ended September 30, 2025, fraud losses declined compared to the same periods of 2024.

***Income Tax Expense***

The following table presents income tax expense and the effective tax rate for the periods indicated.

**Table 7 - Income Tax Expense**

*(dollars in thousands)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Income before income taxes | $118073 | $59784 | $309734 | $226596 |
| Income tax expense | 26579 | 12437 | 68094 | 50003 |
| Effective tax rate | 22.5% | 20.8% | 22.0% | 22.1% |

---

**Balance Sheet Review**

Total assets at September 30, 2025 and December 31, 2024 were $28.1 billion and $27.7 billion, respectively. Total liabilities at September 30, 2025 and December 31, 2024 were $24.5 billion and $24.3 billion, respectively. Shareholders' equity totaled $3.60 billion and $3.43 billion at September 30, 2025 and December 31, 2024, respectively.

------

***Loans***

Our loan portfolio is our largest category of interest-earning assets. The following table presents the loan portfolio and the allocation of the ACL by loan type for the periods indicated.

**Table 8 - Loan Portfolio Composition and ACL Allocation**

*(dollars in thousands)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Loans** | **% of portfolio** | **ACL** | **ACL to Loans** | **Loans** | **% of portfolio** | **ACL** | **ACL to Loans** |
| Owner occupied CRE | $3678286 | 19% | $20659 | 0.56% | $3398217 | 19% | $19873 | 0.58% |
| Income producing CRE | 4534407 | 24 | 46211 | 1.02 | 4360920 | 24 | 41427 | 0.95 |
| Commercial & industrial | 2592971 | 14 | 44481 | 1.72 | 2428376 | 13 | 35441 | 1.46 |
| Commercial construction | 1733473 | 9 | 13841 | 0.80 | 1655710 | 9 | 16370 | 0.99 |
| Equipment financing | 1807907 | 9 | 45104 | 2.49 | 1662501 | 9 | 47415 | 2.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 14347044 | 75 | 170296 | 1.19 | 13505724 | 74 | 160526 | 1.19 |
| Residential mortgage | 3197857 | 17 | 31273 | 0.98 | 3231479 | 18 | 32259 | 1.00 |
| Home equity | 1252087 | 6 | 11356 | 0.91 | 1064874 | 6 | 11247 | 1.06 |
| Residential construction | 178468 | 1 | 1767 | 0.99 | 178405 | 1 | 1672 | 0.94 |
| Manufactured housing <sup>(2)</sup> |  |  |  |  | 1723 |  | 450 | 26.12 |
| Consumer | 191509 | 1 | 1099 | 0.57 | 186448 | 1 | 844 | 0.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total <sup>(1)</sup> | $19166965 |  | $215791 | 1.13 | $18168653 |  | $206998 | 1.14 |

---

<sup>(1)</sup> Loans presented exclude fair value hedge basis adjustments.

<sup>(2)</sup> In 2025, manufactured housing loans were included in consumer loans.

The following table provides industry concentrations of our non-owner occupied CRE loans, which include the income producing CRE portfolio and non-owner occupied commercial construction loans as of the dates indicated.

**Table 9 - Industry Concentrations of Non-Owner Occupied CRE Loans**

*(dollars in thousands)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
|  | **Total** | **% of loans in category** | **Total** | **% of loans in category** |
| Retail | $1380779 | 23% | $1221168 | 21% |
| Office | 897582 | 15 | 836419 | 15 |
| Multifamily | 895952 | 15 | 973065 | 17 |
| Warehouse and industrial | 636075 | 11 | 584659 | 10 |
| Hotel | 516336 | 9 | 485093 | 9 |
| Builder finance | 374514 | 6 | 329349 | 6 |
| Rental 1-4 family | 326078 | 5 | 325189 | 6 |
| Self storage | 287780 | 5 | 257770 | 5 |
| Other | 241409 | 4 | 250261 | 4 |
| Senior care | 239578 | 4 | 311112 | 5 |
| Land | 168932 | 3 | 140527 | 2 |
| &nbsp;&nbsp;**Total** | $5965015 | 100% | $5714612 | 100% |

---

***Asset Quality and Risk Elements***

We manage asset quality and control credit risk through review and oversight of the loan portfolio as well as adherence to policies designed to promote sound underwriting and loan monitoring practices. Our credit risk management function is responsible for monitoring asset quality and Board approved portfolio concentration limits, establishing credit policies and procedures and enforcing the consistent application of these policies and procedures.

The ACL reflects our assessment of the life of loan expected credit losses in the loan portfolio and unfunded loan commitments. This assessment involves uncertainty and judgment and is subject to change in future periods. See the *Critical Accounting Estimates* section of MD&A in our 2024 10-K for additional information on the ACL.

------

The ACL for loans at September 30, 2025 totaled $216 million compared to $207 million at December 31, 2024 and the ACL for loans as a percentage of total loans decreased slightly to 1.13% from 1.14%. The increase in the ACL was primarily attributable to loan growth and the initial allowance established for ANB, partially offset by a reduction in the Hurricane Helene related allowance based on our latest assessment of potential storm related-loan losses. The initial ACL for ANB loans totaled $3.65 million, $1.25 million of which was reclassified from the fair value of PCD loans with no impact to earnings. The Hurricane Helene related reserve totaled $1.88 million and $9.80 million at September 30, 2025 and December 31, 2024, respectively. Our ACL for unfunded commitments, which totaled $12.5 million, increased $2.09 million compared to December 31, 2024 mostly due to an increase in our construction commitments.

The following table provides a summary of net charge-offs to average loans for the periods indicated.

---

| |
|:---|
| **Table 10 - Net Charge-offs to Average Loans** |
| *(dollars in thousands)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>September 30,** | **Three Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** | **Nine Months Ended<br>September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Net charge-offs (recoveries)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied CRE | $2497 | $(184) | $3093 | $181 |
| &nbsp;&nbsp;&nbsp;Income producing CRE | (106) | 1409 | 1545 | 4582 |
| &nbsp;&nbsp;&nbsp;Commercial & industrial | (1132) | 4577 | 2342 | 9764 |
| &nbsp;&nbsp;&nbsp;Commercial construction | 491 | 36 | 442 | 8 |
| &nbsp;&nbsp;&nbsp;Equipment financing | 5487 | 5268 | 15492 | 17132 |
| &nbsp;&nbsp;&nbsp;Residential mortgage | (259) | 32 | 53 | (91) |
| &nbsp;&nbsp;&nbsp;Home equity | 19 | 36 | (115) | (45) |
| &nbsp;&nbsp;&nbsp;Residential construction | 12 | 111 | 222 | 256 |
| &nbsp;&nbsp;&nbsp;Manufactured housing |  | 11556 |  | 14275 |
| &nbsp;&nbsp;&nbsp;Consumer | 667 | 810 | 2434 | 2111 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net charge-offs** | $7676 | $23651 | $25508 | $48173 |
| **Average loans** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied CRE | $3596119 | $3305391 | $3465214 | $3290993 |
| &nbsp;&nbsp;&nbsp;Income producing CRE | 4558960 | 4152421 | 4518396 | 4163423 |
| &nbsp;&nbsp;&nbsp;Commercial & industrial | 2547228 | 2302556 | 2502676 | 2348293 |
| &nbsp;&nbsp;&nbsp;Commercial construction | 1759235 | 1896616 | 1712303 | 1918449 |
| &nbsp;&nbsp;&nbsp;Equipment financing | 1771095 | 1590140 | 1716466 | 1561859 |
| &nbsp;&nbsp;&nbsp;Residential mortgage | 3203555 | 3260024 | 3218995 | 3236507 |
| &nbsp;&nbsp;&nbsp;Home equity | 1206131 | 998335 | 1135693 | 977571 |
| &nbsp;&nbsp;&nbsp;Residential construction | 178286 | 199850 | 176550 | 237167 |
| &nbsp;&nbsp;&nbsp;Manufactured housing |  | 161246 |  | 271492 |
| &nbsp;&nbsp;&nbsp;Consumer | 190054 | 185162 | 186091 | 182036 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total average loans** | $19010663 | $18051741 | $18632384 | $18187790 |
| **Net charge-offs to average loans** <sup>(1)</sup> |  |  |  |  |
| &nbsp;&nbsp;Owner occupied CRE | 0.28% | (0.02)% | 0.12% | 0.01% |
| &nbsp;&nbsp;Income producing CRE | (0.01) | 0.13 | 0.05 | 0.15 |
| &nbsp;&nbsp;Commercial & industrial | (0.18) | 0.79 | 0.13 | 0.56 |
| &nbsp;&nbsp;Commercial construction | 0.11 | 0.01 | 0.03 |  |
| &nbsp;&nbsp;Equipment financing | 1.23 | 1.32 | 1.21 | 1.47 |
| &nbsp;&nbsp;Residential mortgage | (0.03) |  |  |  |
| &nbsp;&nbsp;Home equity | 0.01 | 0.01 | (0.01) | (0.01) |
| &nbsp;&nbsp;Residential construction | 0.03 | 0.22 | 0.17 | 0.14 |
| &nbsp;&nbsp;Manufactured housing |  | 28.51 |  | 7.02 |
| &nbsp;&nbsp;Consumer | 1.39 | 1.74 | 1.75 | 1.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | 0.16 | 0.52 | 0.18 | 0.35 |

---

<sup>(1)</sup> Annualized.

We completed the sale of substantially all of our manufactured housing loan portfolio in the third quarter of 2024. In connection with the sale, we recorded an $11.0 million charge-off in the third quarter and first nine months of 2024. For the third quarter and first nine

------

months of 2025, the average balance and net charge-offs related to the remaining manufactured housing loans are reflected in consumer loans.

***Nonperforming Assets***

The table below summarizes NPAs for the periods indicated. NPAs include nonaccrual loans, OREO and repossessed assets. Notably, we had two payoffs of senior care loans (included in income producing CRE) totaling $14.6 million.

---

| |
|:---|
| **Table 11 - NPAs** |
| *(dollars in thousands)* |

---

---

| | | | |
|:---|:---|:---|:---|
| | **September 30,<br>2025** | **December 31, <br>2024** | **$ Change** |
| Nonaccrual loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied CRE | $10275 | $11674 | $(1399) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income producing CRE | 10884 | 25357 | (14473) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial | 25754 | 29339 | (3585) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 3198 | 7400 | (4202) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment financing | 9716 | 8925 | 791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 59827 | 82695 | (22868) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 28978 | 24615 | 4363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 5234 | 4630 | 604 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential construction | 1241 | 57 | 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;Manufactured housing <sup>(1)</sup> |  | 1444 | (1444) |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 1163 | 138 | 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 96443 | 113579 | (17136) |
| OREO and repossessed assets | 1473 | 2056 | (583) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total NPAs | $97916 | $115635 | $(17719) |
| Nonaccrual loans as a percentage of total loans | 0.50% | 0.62% |  |
| NPAs as a percentage of total assets | 0.35 | 0.42 |  |
| ACL - loans to nonaccrual loans coverage ratio | 2.24 | 1.82 |  |

---

<sup>(1)</sup> In 2025, manufactured housing loans were included in consumer loans.

***Investment Securities***

The composition of the investment securities portfolio reflects our investment strategy of maintaining an appropriate level of liquidity while providing a relatively stable source of revenue. The investment securities portfolio also provides a balance to interest rate risk and credit risk in other categories of the balance sheet while providing a vehicle for the investment of available funds, furnishing liquidity, and supplying securities to pledge as required collateral for certain deposits and borrowings. The table below summarizes the carrying value of our securities portfolio and other relevant portfolio metrics including weighted-average life and effective duration as of the dates presented. Effective duration represents the expected change in the price of a security when rates change by 100 basis points.

------

**Table 12 - Investment Securities**

*(dollars in thousands)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | |
| | **Carrying Value** | **% of portfolio** | **Carrying Value** | **% of portfolio** |<br>**$ Change** |
| AFS | $3889263 | 63% | $4436291 | 65% | $(547028) |
| HTM | 2274099 | 37 | 2368107 | 35 | (94008) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | $6163362 |  | $6804398 |  | $(641036) |
| Investment securities as a % of total assets | 22% |  | 25% |  |  |
| Weighted average life | 5.4 years |  | 5.7 years |  |  |
| Swap adjusted effective duration | 3.6% |  | 3.5% |  |  |
| Effective duration | 4.0 |  | 3.9 |  |  |

---

We utilize fair value hedges on a portion of our AFS securities portfolio in order to mitigate the impact of potential future unrealized losses on our tangible common equity. Gains and losses related to the hedge and hedged item are reflected in investment securities interest income. The changes in the fair value of the hedge and the hedged item substantially offset each other. See Note 6 to the financial statements for further detail.

At September 30, 2025, HTM debt securities had a fair value of $1.94 billion, indicating net unrealized losses of $337 million (pre-tax). Additional unrealized losses on HTM debt securities of $53.5 million (pre-tax) were included in AOCI as a result of the transfer of AFS debt securities to HTM in 2022. Unrealized losses were primarily attributable to changes in interest rates.

See Note 4 to the consolidated financial statements for additional detail.

***Goodwill and Other Intangible Assets***

As of September 30, 2025 and December 31, 2024, goodwill and other intangibles totaled $971 million and $957 million, respectively. In connection with the acquisition of ANB in the second quarter of 2025, we recorded goodwill and a core deposit intangible of $18.0 million and $6.29 million, respectively. See Notes 3 and 7 to the financial statements for further information.

***Deposits***

Customer deposits are the primary source of funds for the continued growth of our earning assets. We believe our high level of service, as evidenced by our strong customer satisfaction scores, is instrumental in attracting and retaining customer deposit accounts, which has continued to contribute to our organic deposit growth. Since December 31, 2024, customer deposits increased $572 million, which includes deposits of $374 million acquired in the ANB transaction as of the acquisition date. As of September 30, 2025, we had approximately $9.85 billion of uninsured deposits, of which $2.73 billion was collateralized by investment securities.

---

| |
|:---|
| **Table 13 - Deposits** |
| *(dollars in thousands)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| | **Balance** | **% of Total** | **Balance** | **% of Total** |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $6444067 | 27% | $6211182 | 26% |
| &nbsp;&nbsp;&nbsp;NOW and interest-bearing demand | 5860653 | 24 | 6141342 | 26 |
| &nbsp;&nbsp;&nbsp;Money market and savings | 7886624 | 33 | 7498735 | 32 |
| &nbsp;&nbsp;&nbsp;Time | 3673718 | 15 | 3441424 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total customer deposits | 23865062 | 99 | 23292683 | 99 |
| &nbsp;&nbsp;&nbsp;Brokered deposits | 155556 | 1 | 168292 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $24020618 |  | $23460975 |  |

---

------

***Borrowing Activities***

At September 30, 2025 and December 31, 2024, we had long-term debt outstanding of $155 million and $254 million, respectively, which includes senior debentures, subordinated debentures, and trust preferred securities. During the second quarter of 2025, we redeemed our $100 million 2030 senior debentures. On September 30, 2025, holders of our $35.0 million senior debt were notified that the debt would be redeemed on November 14, 2025. At September 30, 2025 there were no short-term borrowings outstanding. At December 31, 2024, there were $195 million in short-term borrowings outstanding. The need to utilize wholesale funding sources has decreased because our liquidity needs have been met by our deposit and cash balances.

***Contractual Obligations and Off-Balance Sheet Arrangements***

There have not been any material changes to our contractual obligations and off-balance sheet arrangements since December 31, 2024.

**Interest Rate Sensitivity Management**

Interest rate sensitivity is a function of the repricing characteristics of the portfolio of assets and liabilities. Repricing characteristics are the time frames within which the interest rates on interest-earning assets and interest-bearing liabilities are subject to change either at replacement, repricing or maturity.

Management uses an asset/liability simulation model to measure the potential change in net interest revenue over time using multiple interest rate scenarios. Our modeling is based on the 12-month impact on net interest revenue simulations with various interest rate shocks and ramps, which are compared to a base scenario that assumes rates remain unchanged. In the shock scenarios, rates immediately change the full amount at the scenario onset. In the ramp scenarios, rates change by 25 basis points per month until they reach the predetermined levels.

The following table presents our interest sensitivity position at the dates indicated. The scenario results presented assume parallel movements in the yield curve, which may differ from actual future curve behavior. Other than an assumption for the runoff of estimated surge deposits, which is assumed to be replaced with higher cost wholesale funding, this presentation generally assumes no change in deposit portfolio size or composition.

**Table 14 - Interest Sensitivity**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Increase (Decrease) in Net Interest Revenue from Base Scenario at** | **Increase (Decrease) in Net Interest Revenue from Base Scenario at** | **Increase (Decrease) in Net Interest Revenue from Base Scenario at** | **Increase (Decrease) in Net Interest Revenue from Base Scenario at** |
| | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** |
|<br>**Change in Rates** | **Shock** | **Ramp** | **Shock** | **Ramp** |
| 200 basis point increase | 3.32% | 1.61% | 2.01% | 0.92% |
| 100 basis point increase | 1.83 | 1.15 | 1.19 | 0.66 |
| 100 basis point decrease | (3.02) | (2.00) | (2.27) | (1.46) |
| 200 basis point decrease | (7.24) | (3.17) | (6.00) | (2.38) |

---

The change in results from December 31, 2024 to September 30, 2025 reflects more floating interest rate loans and a slight shortening of asset duration to address rising interest rate risk concerns. In addition, the balance sheet became slightly more asset sensitive at September 30, 2025 due to higher cash balances on hand at quarter-end.

**Liquidity Management**

The Bank's main source of liquidity is customer interest-bearing and noninterest-bearing deposit accounts. Liquidity is also available from wholesale funding sources consisting primarily of repurchase agreements, Federal funds purchased, FHLB advances, and brokered deposits. These sources of liquidity are generally short-term in nature and are used as necessary to fund asset growth and meet other short-term liquidity needs. As part of our liquidity management, we focus on maximizing the amount of securities and loans available as collateral for contingent liquidity sources and calibrating our assumptions in our liquidity stress test on an ongoing basis, particularly as it relates to deposit duration. At September 30, 2025 and December 31, 2024, we had sufficient liquid funds and qualifying collateral to support additional borrowings, which are detailed in the table below.

------

---

| | | |
|:---|:---|:---|
| **Table 15 - Liquid Funds and Unused Borrowing Capacity** | **Table 15 - Liquid Funds and Unused Borrowing Capacity** | |
| *(in thousands)* |  |  |
|  | **September 30, 2025** | **December 31, 2024** |
| **Available liquid funds:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $613431 | $519873 |
| **Availability of borrowings** <sup>(1)</sup>**:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB | 1951358 | 1917905 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Reserve - Discount Window | 2425183 | 2267139 |
| **Unpledged securities available as collateral for additional borrowings** | 3661185 | 3603885 |

---

<sup>(1)</sup> Based on collateral pledged.

In addition, because the Holding Company is a separate entity and apart from the Bank, it must provide for its own liquidity. The Holding Company is responsible for the payment of dividends declared for its common and preferred shareholders, and interest and principal on any outstanding debt or trust preferred securities. The Holding Company currently has sufficient liquid assets to meet these obligations. Holding Company liquidity is maintained at a level of at least 125% of the next 12 months of forecasted cash obligations.

In the opinion of management, our liquidity position at September 30, 2025 was sufficient to meet our expected cash flow requirements for the foreseeable future. See the consolidated statement of cash flows for further detail.

**Capital Resources and Dividends**

Shareholders' equity at September 30, 2025 was $3.60 billion, an increase of $165 million from December 31, 2024 primarily due to year-to-date earnings, other comprehensive income and the issuance of stock for the ANB acquisition, partially offset by the redemption of our preferred stock and dividends declared on common and preferred stock.

The following table shows capital ratios, as calculated under applicable regulatory guidelines, at September 30, 2025 and December 31, 2024. As of September 30, 2025, capital levels remained characterized as "well-capitalized" under regulatory requirements in effect at the time. Additional information related to capital ratios is provided in Note 11 to the consolidated financial statements.

**Table 16 - Capital Ratios**<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **United Community Banks, Inc.<br>(Consolidated)** | **United Community Banks, Inc.<br>(Consolidated)** | **United Community Bank** | **United Community Bank** |
| | **Minimum** | **Well-<br>Capitalized** | **Minimum Capital Plus Capital Conservation Buffer** | **September 30,<br>2025** | **December 31, <br>2024** | **September 30,<br>2025** | **December 31, <br>2024** |
| Risk-based ratios: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;CET1 capital | 4.5% | 6.5% | 7.0% | 13.44% | 13.27% | 12.48% | 13.05% |
| &nbsp;&nbsp;&nbsp;Tier 1 capital | 6.0 | 8.0 | 8.5 | 13.44 | 13.72 | 12.48 | 13.05 |
| &nbsp;&nbsp;&nbsp;Total capital | 8.0 | 10.0 | 10.5 | 14.79 | 15.17 | 13.53 | 14.08 |
| Leverage ratio | 4.0 | 5.0 | N/A | 10.26 | 9.96 | 9.52 | 9.46 |

---

------

The following table shows capital composition as of September 30, 2025 and December 31, 2024.

**Table 17 - Capital Composition under Basel III**

*(in thousands)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **United Community Banks, Inc. (Consolidated)** | **United Community Banks, Inc. (Consolidated)** | **United Community Bank** | **United Community Bank** |
|  | **September 30, 2025** | **December 31, 2024** | **September 30, 2025** | **December 31, 2024** |
| Total common shareholders' equity | $3596851 | $3343861 | $3381511 | $3282263 |
| CECL transitional amount |  | 3334 |  | 3334 |
| Goodwill | (925119) | (907090) | (925119) | (907090) |
| Intangibles, other than goodwill and mortgage servicing rights, net of associated DTLs | (39474) | (42334) | (39474) | (42334) |
| DTAs arising from net operating loss and tax credit carryforwards | (4441) | (2554) | (3248) | (1988) |
| Net unrealized losses on AFS securities | 129697 | 177645 | 128961 | 176777 |
| Accumulated net gains on cash flow hedges | (6276) | (9705) |  |  |
| Net unrealized losses on HTM securities that are included in AOCI | 40612 | 45129 | 40612 | 45129 |
| Other | (111) | (150) | (111) | (150) |
| &nbsp;&nbsp;**CET1 capital** | 2791739 | 2608136 | 2583132 | 2555941 |
| Preferred stock, net of issuance cost |  | 88266 |  |  |
| &nbsp;&nbsp;**Tier 1 capital** | 2791739 | 2696402 | 2583132 | 2555941 |
| Tier 2 capital instruments | 65000 | 85000 |  |  |
| Qualifying ACL | 216436 | 200871 | 216436 | 200870 |
| &nbsp;&nbsp;**Total capital** | $3073175 | $2982273 | $2799568 | $2756811 |

---

**Effect of Inflation and Changing Prices**

A bank's asset and liability structure is substantially different from that of an industrial firm in that primarily all assets and liabilities of a bank are monetary in nature with relatively little investment in fixed assets or inventories. Management believes the effect of inflation on financial results depends on our ability to react to changes in interest rates, and by such reaction, reduce the inflationary effect on performance. We have an asset/liability management program to manage interest rate sensitivity. In addition, periodic reviews of banking services and products are conducted to adjust pricing in view of current and expected costs.

**Item 3.&nbsp;&nbsp;&nbsp;&nbsp;Quantitative and Qualitative Disclosure About Market Risk**

There have been no material changes in our market risk as of September 30, 2025 from that presented in our 2024 10-K. Our interest rate sensitivity position at September 30, 2025 is set forth in Table 14 in MD&A of this Report and incorporated herein by this reference.

**Item 4.&nbsp;&nbsp;&nbsp;&nbsp;Controls and Procedures**

&nbsp;&nbsp;&nbsp;&nbsp;(a) *Disclosure Controls and Procedures.* Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures (as such term is defined in Exchange Act Rule 13a-15(e)) as of September 30, 2025. Based on that evaluation, our principal executive officer and chief financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Report.

&nbsp;&nbsp;&nbsp;&nbsp;(b) *Changes in Internal Control Over Financial Reporting.* No change in our internal control over financial reporting (as such term is defined in Exchange Act Rule 13a-15(f)) occurred during the fiscal quarter ended September 30, 2025 that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

------

**Part II. OTHER INFORMATION** 

**Item 5. Other Information**

During the quarter ended September 30, 2025, no director or officer of the Company adopted, modified or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

**Item 6. Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) &nbsp;&nbsp;&nbsp;&nbsp;Exhibits.** See Exhibit Index below.

---

| | |
|:---|:---|
| **EXHIBIT INDEX** | **EXHIBIT INDEX** |
| **Exhibit No.** | **Description** |
| <u>[3.1](https://www.sec.gov/Archives/edgar/data/857855/000085785521000109/ucbi93021ex31restatedartic.htm)</u> | <u>[Restated Articles of Incorporation of United Community Banks, Inc. as amended through August 13, 2021 (incorporated herein by reference to Exhibit 3.1 to United Community Bank Inc.'s Quarterly Report on Form 10-Q for the period ended September 30, 2021, filed on November 5, 2021).](https://www.sec.gov/Archives/edgar/data/857855/000085785521000109/ucbi93021ex31restatedartic.htm)</u> |
| <u>[3.2](https://www.sec.gov/Archives/edgar/data/857855/000157104915003882/t82199_ex3-2.htm)</u> | <u>[Amended and Restated Bylaws of United Community Banks, Inc., as amended (incorporated herein by reference to Exhibit 3.2 to United Community Banks, Inc.'s Quarterly Report on Form 10-Q for the period ended March 31, 2015, filed with the SEC on May 11, 2015).](https://www.sec.gov/Archives/edgar/data/857855/000157104915003882/t82199_ex3-2.htm)</u> |
| <u>[31.1](ucbi9302510-qexhibit311.htm)</u> | <u>[Certification by H. Lynn Harton, President and Chief Executive Officer of United Community Banks, Inc., pursuant to Exchange Act Rule 13a-14(a).](ucbi9302510-qexhibit311.htm)</u> |
| <u>[31.2](ucb9302510-qexhibit312.htm)</u> | <u>[Certification by Jefferson L. Harralson, Executive Vice President and Chief Financial Officer of United Community Banks, Inc., pursuant to Exchange Act Rule 13a-14(a).](ucb9302510-qexhibit312.htm)</u> |
| <u>[32](ucb9302510-qexhibit32.htm)</u> | <u>[Certification of CEO and CFO pursuant to 18 U.S.C. Section 1350.](ucb9302510-qexhibit32.htm)</u> |
| 101 | Interactive data files for United Community Bank, Inc.'s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, formatted in Inline XBRL: (i) the Consolidated Balance Sheets (unaudited); (ii) the Consolidated Statements of Income (unaudited); (iii) the Consolidated Statements of Comprehensive Income (unaudited); (iv) the Consolidated Statements of Changes in Shareholders' Equity (unaudited); (v) the Consolidated Statements of Cash Flows (unaudited); and (vi) the Notes to Consolidated Financial Statements (unaudited). |
| 104 | The cover page from United Community Bank's Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 (formatted in Inline XBRL and included in Exhibit 101) |

---

------

**Signatures**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| |
|:---|
| **UNITED COMMUNITY BANKS, INC.** |
| /s/ H. Lynn Harton |
| H. Lynn Harton |
| President and Chief Executive Officer |
| (Principal Executive Officer) |
| /s/ Jefferson L. Harralson |
| Jefferson L. Harralson |
| Executive Vice President and Chief Financial Officer |
| (Principal Financial Officer) |
| /s/ Alan H. Kumler |
| Alan H. Kumler |
| Senior Vice President and Chief Accounting Officer |
| (Principal Accounting Officer) |
| Date: November 7, 2025 |

---

## Exhibit 31.1

**Exhibit 31.1**

I, H. Lynn Harton, certify that:

1. I have reviewed this quarterly report on Form 10-Q of United Community Banks, Inc. (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: November 7, 2025 | |
| | /s/ H. Lynn Harton |
| | H. Lynn Harton |
| | President and Chief Executive Officer of the Registrant |

---

## Exhibit 31.2

**Exhibit 31.2**

I, Jefferson L. Harralson, certify that:

1. I have reviewed this quarterly report on Form 10-Q of United Community Banks, Inc. (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: November 7, 2025 | |
| | /s/ Jefferson L. Harralson |
| | Jefferson L. Harralson |
| | Executive Vice President and Chief Financial Officer of the Registrant |

---

## Ex-32

**Exhibit 32**

**CERTIFICATIONS PURSUANT TO**

**18 U.S.C. SECTION 1350,**

**AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of United Community Banks, Inc. ("United") on Form 10-Q for the period ending September 30, 2025 filed with the Securities and Exchange Commission on the date hereof (the "Report"), each of the undersigned officers of United certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of United.

---

| | |
|:---|:---|
| | /s/ H. Lynn Harton |
| Name: | H. Lynn Harton |
| Title: | President and Chief Executive Officer |
| Date: | November 7, 2025 |
| | /s/ Jefferson L. Harralson |
| Name: | Jefferson L. Harralson |
| Title: | Executive Vice President and Chief Financial Officer |
| Date: | November 7, 2025 |

---

<br>