ANNUAL
REPORT
2017
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 1
FINANCIAL HIGHLIGHTS
(in millions, except per share data)
CORE EARNINGS SUMMARY
Net interest revenue
Fee revenue
Operating expenses (excluding merger-related and other non-operating charges)
Pre-tax, pre-credit earnings
Provision for credit losses
Merger-related and other non-operating charges, net of taxes
Operating income tax expense (excl. benefit on merger, and other non-operating charges)
Net income
Preferred dividends
2017
2016
$ 355.9
$ 309.8
88.3
252.9
191.3
(3.8)
(52.5)
(67.2)
67.8
-
93.7
233.2
170.3
.8
(6.0)
(64.4)
100.7
(.1)
Net income available to common shareholders
$ 67.8
$ 100.6
PER COMMON SHARE
Diluted earnings—GAAP
Diluted earnings—operating (1)
Cash dividends declared
Book value
Tangible book value
PERFORMANCE MEASURES
Net interest margin
Allowance for loan losses to loans
Return on assets—GAAP
Return on assets—operating (1)
Return on common equity—GAAP
Return on tangible common equity—operating (1)
Average equity to average assets
Average tangible common equity to average assets
Tier 1 risk-based capital ratio
AS OF YEAR-END
Loans
Investment securities
Total assets
Deposits
Shareholders’ equity
Common shares outstanding (thousands)
Beneficial owners
Employees
Banking offices
$ .92
1.63
$ 1.40
1.48
.38
16.67
13.65
.30
15.06
12.95
3.52 %
3.36 %
.76
.62
1.09
5.67
12.02
10.71
9.29
12.24
.89
1.00
1.06
9.41
11.86
10.54
9.19
11.23
$ 7,736
$ 6,921
2,937
11,915
9,808
1,303
77,580
17,700
2,175
156
2,762
10,709
8,638
1,076
70,899
15,100
1,961
139
(1) Excludes the effect of merger-related and other non-operating charges of $14.7 million and $8.1 million, respectively, in 2017 and 2016; impact of remeasurement of net deferred
tax asset resulting from 2017 Tax Cuts and Jobs Act of $38.2 million; release of disproportionate tax effects lodged in accumulated other comprehensive income (loss) of $3.4 million in
2017; impairment charge of $1.0 million in 2016 resulting from the cancellation of nonqualified stock options.
2 | U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T
LET TER TO SHAREHOLDERS
For the past three years, I have opened this letter by describing our results as exceptional,
outstanding and transformative. Thanks to the efforts of our bankers, the commitment of our
shareholders and the goodwill and loyalty of our customers, I can characterize 2017 with all three
of those adjectives once again, and a few more as well. It was truly a momentous year:
1. After crossing the $10 billion-asset threshold, United Community Bank became regulated
as a large financial institution. This transition has caused some banks to stumble; however,
with careful planning and prudent management, we absorbed the impacts and generated
outstanding financial and operating results. We improved operating efficiency, increased
earnings and upped our dividend by 27 percent.
2. We retained our position as J.D. Power’s top-ranked bank for customer satisfaction in the
Southeast. Leading trade organizations and media recognized us as a top workplace in
Georgia and South Carolina and across our industry.
3. Organic growth and strategic acquisitions once again served us well. Our merger with Horry
County State Bank solidifies our coastal strategy in South Carolina, and the acquisition of Four
Oaks Bank & Trust Company grants entry into North Carolina’s fast-growing Raleigh-Durham
market. We increased core deposits by more than $600 million and made key decisions on the
lending side that allowed us to grow our portfolio while making a planned exit from the auto
lending business.
So what else can we say about 2017? In a year so full of success, perhaps the best thing to say is
“Thank you.” Thanks to our shareholders, our customers and our bankers for the opportunity to
deliver these results. Let’s look at how we got there.
FINANCE & OPERATIONS
Crossing the $10 billion threshold and becoming regulated as a large financial institution under the
Dodd-Frank Act in the third and fourth quarter was a hurdle for which we had been preparing since
2016. That preparation paid off in a major way. The financial impact is significant to the tune of
$3.3 million per quarter: lost revenue of approximately $2.7 million from the impact of the Durbin
amendment—which caps the amount of interchange fees that banks can charge merchants for
accepting their debit cards–and a $600,000 increase in quarterly expense due to the large bank
deposit insurance assessment model. But not only did we absorb these impacts, we continued to
grow earnings. Our work to establish the structure to manage this impact while putting strategies
in place to enhance our strong performance is a truly monumental achievement.
Our operating financial results were strong. We earned $120 million in net operating income, or
$1.63 per share—a 10 percent increase from 2016. Operating return on assets was 1.09 percent,
up from 1.06 percent in 2016. Operating return on tangible common equity also climbed, from
11.86 percent in 2016 to 12.02 percent in 2017. Our accomplishments are even more remarkable
considering the financial impact of the Durbin amendment and associated higher FDIC expenses.
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 3
We continued to grow our loan portfolio steadily and prudently. At year-end, total loans were
$7.736 billion, up $815 million from a year ago, including $702 million in loans from acquisitions.
Masking strong organic loan growth for 2017 was our second-quarter decision to discontinue
purchases of indirect auto loans, decreasing our outstanding balances by $101 million from
last year-end. Although the credit quality of our indirect auto loans remains outstanding, rising
interest rates made the returns less attractive. Allowing those loans to run off allows us to reinvest
in higher-yielding opportunities generated by our mortgage, Commercial Banking Solutions and
traditional lending groups (more on these plans later).
We achieved strong core deposit growth in 2017, an achievement of which we are very proud.
Core deposits are the lifeblood of the banking industry, and the true value of a banking franchise
is found in its core deposit base. This is another area where our bankers truly excelled. Not only
were we able to grow our core deposits by $623 million excluding acquisitions; we were able to do
this in a rising rate environment without significantly increasing our deposit pricing. This helped
increase our net interest margin by 16 basis points year-over-year. Our cost of total deposits is 13
basis points lower than our peer group, driven primarily by the high-quality core deposit base
of our company, which we continued to grow intentionally throughout the economic downturn.
These high-quality core deposits and our year-end loan-to-deposit ratio of 79 percent allow plenty
of room for additional loan growth.
Our credit quality is among the best in our peer group, with non-performing assets to total assets
at .23 percent, down five basis points year-over-year. Our net charge-offs to average loans were
only eight basis points for the entire year—this is the best performance we have had in decades.
Fee revenue—including non-interest income—declined by 6 percent in 2017, largely due to the
cap on interchange fees imposed by the Durbin amendment, but we more than covered this gap
with strong growth in net interest revenue.
Our operating efficiency ratio improved to 56.67 percent as our bankers continued to find efficient
ways to leverage their time, talents and technology to serve our customers extraordinarily well
without adding overhead. Importantly, this improved efficiency has not come at the expense of
United’s golden rule of banking: to treat our customers as we would want to be treated. We’ve
made key investments in our online banking platform, telephone banking and branches so we can
continue to offer top-notch service no matter how our customers engage with us.
Traditional branching is still critical to serving our customers well—but it must be balanced
with advancements in the rapidly growing online and mobile space. More than 150,000 United
Community Bank customers are now enrolled in online and mobile banking, a 14 percent year-
over-year increase, with a 63 percent increase in the use of mobile banking alone in 2017. The
average online and mobile user logs into his or her account more than 15 times per month, and
in the fourth quarter we averaged 37,400 mobile deposits per month. This is a 38 percent year-
over-year increase. As our customers become increasingly comfortable with the convenience of
mobile banking technology, we must continue investing in secure, user-friendly options to meet
their needs.
4 | U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T
CULTURE & QUALITY
Our foundation is the connection between our bankers—who are the best in the business—and
our customers. We are proud that J.D. Power has once again recognized United as the top bank in
customer satisfaction in the Southeast, and one of the best in the nation. Also, Forbes has again
highlighted us as one of the nation’s top 50 banks.
As we continue to grow, we must focus relentlessly on our heritage of recruiting and retaining
the very best people. That requires cultivating the right work environment, and it is a pleasure to
watch United Community Bank President and CEO, Lynn Harton, continue to build and reinforce
an unmatched culture. Those efforts do not go unnoticed: American Banker highlighted United as
a “Best Bank to Work For in 2017,” while consulting firms and media outlets have named us among
the top workplaces in South Carolina and metropolitan Atlanta.
Our approach combines the resources and advantages of a regional bank with the customer
service of a community bank. We may be regulated as a “big bank,” but our focus is on acting
small while providing big-bank resources. Every day, our bankers in Tennessee, Georgia, North
Carolina, South Carolina and beyond follow our golden rule of banking, reinforcing the foundation
of ‘The Bank that Service Built®’.
STRATEGY & GROWTH
While executing on financial, operational and service goals, our leadership team maintains
focus on the larger picture—the future of United. Our formula, while not complex, is difficult
to replicate: build and grow a footprint in high-growth metropolitan statistical areas (MSAs)
and in rural communities that generates core deposits and traditional and specialized lending
opportunities. Two elements are crucial to our formula’s success: a high-quality balance sheet that
provides flexibility in a rising rate environment, and our bankers’ relentless, caring customer focus.
We added more bankers that share our focus in 2017 with the completion of two mergers. One
was with Horry County State Bank in the Myrtle Beach MSA, solidifying our position as a leading
bank along the fast-growing South Carolina coast. The second merger was with Four Oaks Bank &
Trust Company, a 105-year-old bank in the Raleigh MSA, North Carolina’s fastest-growing market.
Four Oaks is ranked number 2 in market share among local community banks in the MSA and
has 12 locations in this highly attractive area. Both acquisitions are immediately accretive to fully
diluted operating earnings per share.
As a result of these moves, our footprint has grown once again, with significant operations in
four states in some of the strongest metro areas in North Carolina, Tennessee, South Carolina and
Georgia. The demographics of our markets are enviable—the anticipated five-year growth rate
within our footprint is 5.1 percent (versus 3.5 percent nationally) with projected household income
growth in those areas higher than the national average. Our ability to work in fast-growing urban
and suburban areas—more than 80 percent of our branches are in metropolitan statistical areas—
as well as strong rural communities is a hallmark of the United brand and sets us apart from many
of our competitors.
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 5
Our Commercial Banking Solutions business—now entering its fourth year—continues to
differentiate us and drive incremental growth. The power of this unit is not just the experienced
and specialized lenders who staff it, but their remarkable partnership with our community
bankers, who are able to bring large-bank products and resources to customers who often can’t
access them without big-bank headaches. Just one example is our Small Business Administration
lending efforts. Three years after starting this business and four months into the Small Business
Administration’s fiscal year, we are ranked 13th in the country in SBA approvals. We have lenders
with deep expertise focused on customers in industries from senior care to manufacturing. The
Commercial Banking Solutions group’s growth is just part of the story; our traditional lending
division—focused on real estate, construction, and small business—also continues to drive
earnings with a healthy and diverse lending income stream.
A GLANCE AHEAD
While no year is without challenges, we are optimistic that 2018 will continue to offer outstanding
opportunities for our bankers to serve their customers.
This belief is informed by several factors, but the most notable one is the Tax Cuts and Jobs Act of
2017, which has the potential to significantly benefit the economy and our business in the years
ahead. While the new tax law had a negative one-time impact on our fourth-quarter earnings (as
it did for most banks), the new lower corporate rate will directly benefit our business. Even more
importantly, if national projections and initial signs in the marketplace are accurate, the tax law
will stimulate the economy, inspire consumer confidence, and strongly encourage investments by
small, medium, and large businesses, generating the loan demand that fuels earnings growth.
Secondly, our first-quarter 2018 acquisition of NLFC Holding Corp., the parent company of Navitas
Credit Corp., allows us to offer a product we have sought to provide to our customers for some
time. Navitas—led by founder and CEO, Gary Shivers, along with an exceptional management
team—has expertise in equipment finance that adds significant capability to our Commercial
Banking Solutions unit, covering a gap in our product mix. The commercial equipment business
is evolving, with purchasers expecting point-of-sale financing options, and Navitas is uniquely
qualified in this space. The acquisition’s timing is ideal for two reasons: 1) tax reform should lead
to an increase in equipment purchases and more demand for equipment financing; and 2) Navitas’
healthy pipeline allows us to replace the lower yielding auto loans mentioned earlier as they roll
off with higher yielding opportunities. The Navitas deal will be immediately accretive to earnings,
with strong yields as we deploy our low-cost core deposits to fund its loans.
We will continue to look for potential partners while remaining selective. Our partners must have
a talent pool and location that complement our strategy, along with a high-quality asset base,
strong leaders and a healthy culture. Navitas, Horry County and Four Oaks are ideal partners that
understand, fit and embrace the United model.
With these positive impacts, a relentless focus on customer service and a strengthening economy,
we have targeted a 1.40 percent return on assets and a 16 percent return on tangible common
equity by the end of 2018.
6 | U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T
LEADERSHIP UPDATES
In July, Lynn Harton was named CEO of United Community Bank, our banking subsidiary.
His leadership efforts to enhance our culture, drive efficiency and develop and execute our
strategy cannot be overstated. Nor can the extraordinary quality of our senior leadership team:
Chief Financial Officer, Jefferson Harralson; Chief Credit Officer, Rob Edwards; General Counsel
and Chief Risk Officer, Brad Miller; Community Banking President, Bill Gilbert; and Commercial
Banking Solutions President, Rich Bradshaw. This group makes sure we stay on-strategy and
on-target while delivering the environment and success that engage our bankers, customers
and you: our shareholders.
One key factor in our success for more than 45 years has been W.C. Nelson. Starting as a bank
director in 1973 when our bank had only one location in Union County, W.C. was one of the
original directors of United Community Banks. He has served in many capacities through the years,
including Chairman, Lead Director and Vice Chairman. On a personal note, he helped recruit me
to United Community Bank more than 35 years ago, and I can promise our shareholders that this
bank, and the communities we serve, would not be the same without him. W.C., we applaud you
not just for your time served, but for your vision and dedication, and wish you well in retirement.
As visionaries like W.C. depart, we will continue to focus on the path ahead, as he would no doubt
remind us. On behalf of every member of the United team, thank you for your support. We pledge
to you our commitment and best effort toward another exceptional year.
Sincerely,
Jimmy Tallent
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 7
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
INTEREST REVENUE
Loans, including fees
Investment securities:
Taxable
Tax exempt
Deposits in banks and short-term investments
Total interest revenue
INTEREST EXPENSE
Deposits:
NOW
Money market
Savings
Time
Total deposit interest expense
Short-term borrowings
Federal Home Loan Bank advances
Long-term debt
Total interest expense
Net interest revenue
(Release of ) provision for credit losses
Net interest revenue after provision for credit losses
FEE REVENUE
Service charges and fees
Mortgage loan and other related fees
Brokerage fees
Gains from sales of government guaranteed loans
Securities gains, net
Losses on prepayment of borrowings
Other
Total fee revenue
Total revenue
OPERATING EXPENSES
Salaries and employee benefits
Occupancy
Communications and equipment
FDIC assessments and other regulatory charges
Professional fees
Postage, printing and supplies
Advertising and public relations
Amortization of intangibles
Foreclosed property
Merger-related and other charges
Other
Total operating expenses
Income before income taxes
Income tax expense
Net income
2017
2016
2015
$ 315,050
$ 268,382
$ 223,256
70,172
2,216
2,282
389,720
3,365
7,033
135
6,529
17,062
352
6,095
10,226
33,735
355,985
3,800
352,185
38,295
18,320
4,633
10,493
42
-
16,477
88,260
440,445
153,098
20,344
19,660
6,534
12,074
5,952
4,242
4,845
1,254
13,901
25,707
267,611
172,834
105,013
67,821
63,413
614
2,611
335,020
1,903
4,982
135
3,136
10,156
399
3,676
11,005
25,236
309,784
(800)
310,584
42,113
20,292
4,280
9,545
982
-
16,485
93,697
404,281
138,789
19,603
18,355
5,866
11,822
5,382
4,426
4,182
1,051
8,122
23,691
241,289
162,992
62,336
100,656
51,143
705
3,428
278,532
1,505
3,466
98
3,756
8,825
364
1,743
10,177
21,109
257,423
3,700
253,723
36,825
13,592
5,041
6,276
2,255
(1,294)
9,834
72,529
326,252
116,688
15,372
15,273
5,106
10,175
4,273
3,667
2,444
32
17,995
20,213
211,238
115,014
43,436
71,578
Net income available to common shareholders
$ 67,250
$ 100,635
$ 71,511
Income per common share:
Basic
Diluted
Weighted average common shares outstanding:
Basic
Diluted
8 | U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T
$ .92
.92
$ 1.40
1.40
$ 1.09
1.09
73,247
73,259
71,910
71,915
65,488
65,492
CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
ASSETS
Cash and due from banks
Interest-bearing deposits in banks
Cash and cash equivalents
Securities available-for-sale
Securities held-to-maturity (fair value $321,276 and $333,170)
Mortgage loans held for sale (includes $26,252 and $27,891 at fair value)
Loans, net of unearned income
Less allowance for loan losses
Loans, net
Premises and equipment, net
Bank owned life insurance
Accrued interest receivable
Net deferred tax asset
Derivative financial instruments
Goodwill and other intangible assets
Other assets
Total assets
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Demand
NOW
Money market
Savings
Time
Brokered
Total deposits
Short-term borrowings
Federal Home Loan Bank advances
Long-term debt
Derivative financial instruments
Accrued expenses and other liabilities
Total liabilities
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $1 par value; 10,000,000 shares authorized;
Series H, $1,000 stated value; 0 shares issued and outstanding
Common stock, $1 par value; 150,000,000 shares authorized;
77,579,561 and 70,899,114 shares issued and outstanding
Common stock, non-voting, $1 par value; 26,000,000 shares authorized;
0 shares issued and outstanding
Common stock issuable; 607,869 and 519,874 shares
Capital surplus
Accumulated deficit
Accumulated other comprehensive loss
Total shareholders’ equity
Total liabilities and shareholders’ equity
2017
2016
$ 129,108
185,167
314,275
2,615,850
321,094
32,734
7,735,572
(58,914)
7,676,658
208,852
188,970
32,459
88,049
22,721
244,397
169,401
$11,915,460
$ 3,087,797
2,131,939
2,016,748
651,742
1,548,460
371,011
9,807,697
50,000
504,651
120,545
25,376
103,857
10,612,126
$ 99,489
117,859
217,348
2,432,438
329,843
29,878
6,920,636
(61,422)
6,859,214
189,938
143,543
28,018
154,336
23,688
156,222
144,189
$10,708,655
$ 2,637,004
1,989,763
1,846,440
549,713
1,287,142
327,496
8,637,558
5,000
709,209
175,078
27,648
78,427
9,632,920
-
-
77,580
70,899
-
9,083
1,451,814
(209,902)
(25,241)
1,303,334
$11,915,460
-
7,327
1,275,849
(251,857)
(26,483)
1,075,735
$10,708,655
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 9
SELECTED DATA—QUARTERLY SUMMARY
(in millions, except per share data)
EARNINGS SUMMARY
Net interest revenue
Fee revenue
Total revenue
Operating expenses (1)
Pre-tax, pre-credit earnings (1)
Provision for credit losses
Merger-related and other non-operating charges, net of tax effect
Operating income tax expense (2)
Net income
PERFORMANCE MEASURES
Per common share:
Diluted net income—GAAP
Diluted net income—operating (3)
Cash dividends declared
Book value
Tangible book value (4)
Key performance ratios:
Net interest margin (5)
Return on assets —GAAP (5)
Return on assets—operating (3)(5)
Return on common equity—GAAP (5)(6)
Return on common equity—operating (3)(5)(6)
Return on tangible common equity—operating (3)(4)(5)(6)
Average equity to assets
Average tangible equity to assets (4)
Average tangible common equity to assets (4)
ASSET QUALITY
Non-performing loans
Foreclosed properties
Total non-performing assets (NPAs)
Allowance for loan losses
Net charge-offs
Allowance for loan losses to loans
Net charge-offs to average loans (5)
NPAs to loans and foreclosed properties
NPAs to total assets
AT PERIOD END
Loans
Investment securities
Total assets
Deposits
Shareholders’ equity
Common shares outstanding
2017
Q4
Q3
Q2
Q1
$ 97.5
21.9
119.4
68.5
50.9
(1.2)
(1.2)
(44.4)
(17.3)
(12.0)
(12.0)
$ 89.8
20.6
110.4
62.3
48.1
(1.0)
(1.0)
(2.3)
(16.8)
28.0
$ 85.1
23.7
108.8
61.4
47.4
(.8)
(.8)
(1.1)
(17.2)
28.3
$ 83.5
22.1
105.6
60.7
44.9
(.8)
(.8)
(4.7)
(15.9)
23.5
2016
Q4
$ 80.9
25.2
106.1
60.2
45.9
-
(1.7)
(17.0)
27.2
$ (.16)
(.16)
.42
.10
16.67
13.65
$ .38
.41
.10
16.50
14.11
$ .39
.41
.09
15.83
13.74
$ .33
.39
.09
15.40
13.30
$ .38
.40
.08
15.06
12.95
3.63 %
(.40)
(.40)
1.10
(3.57)
(3.57)
9.73
11.93
11.21
9.52
9.52
3.54 %
1.01
1.09
9.22
9.97
11.93
10.86
9.45
9.45
3.47 %
1.06
1.10
9.98
10.39
12.19
10.49
9.23
9.23
3.45 %
.89
1.07
8.54
10.25
12.10
10.24
8.96
8.96
3.34 %
1.03
1.10
9.89
10.51
12.47
10.35
9.04
9.04
$ 23.7
3.2
26.9
58.9
1.1
.76 %
.06
.35
.23
$ 23.0
2.7
25.7
58.6
1.6
.81 %
.09
.36
.23
$ 23.1
2.7
25.8
60.0
1.6
.85 %
.09
.37
.24
$ 19.8
5.1
24.9
60.5
2.7
.87 %
.10
.36
.23
$ 21.5
8.0
29.5
61.4
1.5
.89 %
.09
.43
.28
$ 7,736
2,937
11,915
9,808
1,303
77.6
$ 7,203
2,847
11,129
9,127
1,221
73.4
$ 7,041
2,787
10,837
8,736
1,133
71.0
$ 6,965
2,767
10,732
8,752
1,102
71.0
$ 6,921
2,762
10,709
8,638
1,076
70.9
(1) Excludes merger-related and other non-operating charges. (2) Excludes the fourth quarter 2017 impact of remeasurement of United’s net deferred tax asset following the
passage of tax reform legislation, a first quarter 2017 release of disproportionate tax effects lodged in accumulated other comprehensive income (loss) and a fourth quarter 2016
deferred tax asset impairment charge related to cancelled non-qualified stock options. (3) Excludes the impact of remeasurement of United net deferred tax asset following the
passage of tax reform legislation and release of disproportionate tax effects lodged in accumulated other comprehensive income (loss) and after-tax effect of merger-related charges
and a charge for impairment of deferred tax assets related to cancelled nonqualified stock options. (4) Excluded the effect of acquisition related intangible assets. (5) Annualized.
(6) Net income divided by average realized common equity, which excludes accumulated other comprehensive income (loss).
1 0 | U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T
CORPORATE INFORMATION
FINANCIAL INFORMATION
Analysts and investors seeking financial
information should contact:
Jefferson L. Harralson
Executive Vice President and CFO
864-240-6208
jefferson_harralson@ucbi.com
This Annual Report contains forward-looking
statements that involve risk and uncertainty
and actual results could differ materially from
the anticipated results or other expectations
expressed in the forward-looking statements.
A discussion of factors that could cause actual
results to differ materially from those expressed
in the forward-looking statements is included in
the Annual Report on Form 10-K filed with the
Securities and Exchange Commission.
This Annual Report also contains financial
measures that were prepared on a basis
different from accounting principles generally
accepted in the United States (“GAAP”).
References to operating performance measures
are non-GAAP financial measures. Management
has included such non-GAAP financial measures
because such non-GAAP measures exclude
certain non-recurring revenue and expense
items and therefore provide a meaningful basis
for analyzing financial trends. A reconciliation
of these measures to financial measures
determined using GAAP is included in the
Annual Report on Form 10-K filed with the
Securities and Exchange Commission.
STOCK PRICE
Quarter
High
Low
Close
Average Daily
Volume
2016
2017
4th
1st
2nd
3rd
4th
$ 30.22
$ 20.26
$ 29.62
532,944
$ 30.47
$ 25.29
$ 27.69
28.57
29.02
29.60
25.39
24.47
25.76
27.80
28.54
28.14
459,018
402,802
365,102
365,725
INVESTOR INFORMATION
Investor information including this
report, Form 10-K, quarterly financial
results, press releases and various other
reports are available at ir.ucbi.com.
Alternatively, shareholders may contact
Investor Relations at 866-270-5900 or
investor_relations@ucbi.com.
LEGAL COUNSEL
Troutman Sanders LLP, Atlanta, GA
REGISTRAR TRANSFER AGENT
Continental Stock Transfer & Trust Co.
17 Battery Park, 8th Floor
New York, NY 10004
212-509-4000 | continentalstock.com
STOCK EXCHANGE
United Community Banks, Inc. (Ticker:
UCBI) common stock is listed for trading on
the NASDAQ Global Select Market.
INDEPENDENT REGISTERED
PUBLIC ACCOUNTANTS
PricewaterhouseCoopers LLP, Atlanta, GA
EQUAL OPPORTUNITY
EMPLOYER
United Community Banks is an equal
opportunity employer. All matters
regarding recruiting, hiring, training,
compensation, benefits, promotions,
transfers and other personnel policies will
remain free from discriminatory practices.
BOARD OF DIRECTORS
Thomas A. Richlovsky
Lead Director
Retired Chief Financial
Officer and Treasurer
National City Corporation
Jimmy C. Tallent
Chairman, Chief Executive Officer
Robert H. Blalock
Chief Executive Officer
Blalock Insurance Agency, Inc.
L. Cathy Cox
Dean
School of Law, Mercer University
Kenneth L. Daniels
Retired Chief Credit Risk
and Policy Officer
BB&T Corporation
H. Lynn Harton
President, Chief Operating Officer
W.C. Nelson, Jr.
Co-Owner and Operator
Nelson Tractor Co.
David C. Shaver
Chief Executive Officer
Cost Segregation Advisors, LLC
Tim R. Wallis
Owner and President
Wallis Printing Company
David H. Wilkins
Partner
Nelson, Mullins, Riley & Scarborough, LLP
EXECUTIVE OFFICERS
Jimmy C. Tallent
Chairman, Chief Executive Officer
H. Lynn Harton
President, Chief Operating Officer
Jefferson L. Harralson
Executive Vice President,
Chief Financial Officer
Bill M. Gilbert
President of Community Banking
Robert A. Edwards
Executive Vice President,
Chief Credit Officer
Bradley J. Miller
Executive Vice President,
Chief Risk Officer, General Counsel
Richard W. Bradshaw
President of Commercial
Banking Solutions
U N I T E D C O M M U N I T Y B A N K S , I N C . 2017 A N N UA L R E P O R T | 11
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