$UCB

UNITED COMMUNITY BANKS INC

CIK:0000857855|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest revenue:
Loans, including fees	$ 295,612	$ 288,284	$ 581,689	$ 562,340
Taxable	44,647	54,191	89,130	111,363
Tax-exempt	1,671	1,671	3,317	3,349
Other	2,441	3,219	4,196	5,670
Investment securities interest revenue	344,371	347,365	678,332	682,722
Interest expense:
Deposits	98,103	119,136	196,132	238,070
Short-term borrowings	1,553	83	2,551	1,190
Federal Home Loan Bank advances	3,014	0	3,983	433
Long-term debt	801	2,615	2,002	5,477
Total interest expense	103,471	121,834	204,668	245,170
Net interest revenue	240,900	225,531	473,664	437,552
Noninterest income:
Wealth management fees	4,932	4,400	9,561	8,865
Net gains from sales of other loans	947	1,995	2,840	3,391
Lending and loan servicing fees	4,098	3,690	8,069	7,855
Securities (losses) gains, net	(2)	286	131	292
Other	11,250	8,845	26,796	18,812
Total noninterest income	38,380	34,708	82,126	70,364
Total revenue	279,280	260,239	555,790	507,916
Provision for credit losses	(29,803)	11,818	(18,950)	27,237
Noninterest expense:
Salaries and employee benefits	96,242	86,997	197,491	171,264
Communications and equipment	13,743	13,332	27,845	27,031
Occupancy	11,232	10,935	22,957	21,864
Advertising and public relations	2,708	2,881	5,105	4,762
Postage, printing and supplies	2,744	2,495	5,501	5,056
Professional fees	6,868	5,609	12,444	11,540
Lending and loan servicing expense	3,105	2,330	5,687	4,317
Outside services - electronic banking	3,555	3,570	7,114	6,333
FDIC assessments and other regulatory charges	4,327	4,745	6,596	9,387
Amortization of intangibles	2,938	3,292	6,001	6,578
Merger-related and other charges	895	4,833	1,768	6,130
Other	11,558	6,900	18,708	14,756
Total noninterest expense	159,915	147,919	317,217	289,018
Income before income taxes	149,168	100,502	257,523	191,661
Income tax expense	33,530	21,769	57,596	41,515
Net income	115,638	78,733	199,927	150,146
Net income available to common shareholders, basic	114,880	76,722	198,618	146,150
Net income available to common shareholders, diluted	$ 114,880	$ 76,722	$ 198,618	$ 146,150
Net income per common share:
Basic (in dollars per share)	$ 0.95	$ 0.63	$ 1.65	$ 1.21
Diluted (in dollars per share)	$ 0.95	$ 0.63	$ 1.65	$ 1.21
Weighted average common shares outstanding:
Basic (in shares)	120,303	121,377	120,400	120,714
Diluted (in shares)	120,442	121,432	120,583	120,820
Service charges and fees
Noninterest income:
Service charges and other related fees	$ 10,375	$ 10,122	$ 19,920	$ 19,657
Mortgage loan gains and other related fees
Noninterest income:
Service charges and other related fees	$ 6,780	$ 5,370	$ 14,809	$ 11,492

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 199,927	$ 150,146
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	38,936	23,326
Provision for credit losses	(18,950)	27,237
Stock-based compensation	7,055	5,208
Deferred income tax expense	18,158	3,550
Securities gains, net	(131)	(292)
Net gains from sales of other loans	(2,840)	(3,391)
Changes in assets and liabilities:
Trading securities	(91,377)	0
Mortgage loans held for sale	(14,137)	20,391
Other assets	27,642	9,247
Accrued expense and other liabilities	35,626	(39,954)
Net cash provided by operating activities	199,909	195,468
Debt securities held-to-maturity:
Proceeds from maturities and calls	60,541	63,865
Debt securities available-for-sale:
Proceeds from sales	25,395	258,909
Proceeds from maturities and calls	422,442	407,365
Purchases	(813,733)	(192,605)
Net increase in loans	(584,035)	(453,439)
Payments for other investments	(84,361)	(21,947)
Proceeds from other investments	43,133	7,241
Purchases of premises and equipment	(16,138)	(16,434)
Net cash received in acquisition	0	41,246
Other, net	4,184	8,936
Net cash (used in) provided by investing activities	(942,572)	103,137
Financing activities:
Net (decrease) increase in deposits	(74,267)	127,494
Net increase (decrease) in short-term borrowings	275,000	(195,000)
Repayment of long-term debt	(100,000)	(100,000)
Proceeds from FHLB advances	2,115,000	126,000
Repayment of FHLB advances	(1,315,000)	(126,000)
Repurchase of common stock	(37,093)	(13,942)
Cash dividends on common stock	(60,971)	(58,136)
Cash dividends on preferred stock	0	(3,146)
Other, net	(663)	(792)
Net cash provided by (used in) financing activities	802,006	(243,522)
Net change in cash and cash equivalents	59,343	55,083
Cash and cash equivalents, beginning of period	395,754	519,873
Cash and cash equivalents, end of period	$ 455,097	$ 574,956

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 129,113,000	$ 202,586,000
Interest-bearing deposits in banks	325,984,000	193,168,000
Cash and cash equivalents	455,097,000	395,754,000
Trading securities	91,377,000	0
Debt securities available-for-sale	4,106,366,000	3,750,863,000
Debt securities held-to-maturity (fair value $1,848,900 and $1,918,426, respectively)	2,179,043,000	2,237,356,000
Mortgage loans held for sale	53,518,000	39,381,000
Equipment financing receivables held for sale	1,909,186,000	0
Loans and leases held for investment	18,024,130,000	19,384,317,000
Less allowance for credit losses - loans and leases	(168,705,000)	(210,429,000)
Loans and leases, net	17,855,425,000	19,173,888,000
Premises and equipment, net	394,343,000	393,714,000
Bank-owned life insurance	367,506,000	364,184,000
Goodwill and other intangible assets, net	961,881,000	967,882,000
Other assets (including $100,421 and $107,583 at fair value, respectively)	677,400,000	679,532,000
Total assets	29,051,142,000	28,002,554,000
Deposits:
Noninterest-bearing demand	6,449,517,000	6,252,252,000
Interest-bearing deposits	17,274,692,000	17,546,178,000
Total deposits	23,724,209,000	23,798,430,000
Short-term borrowings	360,000,000	85,000,000
Federal Home Loan Bank advances	800,000,000	0
Long-term debt	20,602,000	120,400,000
Accrued expense and other liabilities (including $68,210 and $69,482 at fair value, respectively)	401,327,000	360,038,000
Total liabilities	25,306,138,000	24,363,868,000
Shareholders' equity:
Common stock, $1 par value: 200,000,000 shares authorized, 119,763,827 and 120,598,266 shares issued and outstanding, respectively	119,764,000	120,598,000
Capital surplus	2,724,530,000	2,754,399,000
Retained earnings	1,053,438,000	914,261,000
Accumulated other comprehensive loss	(152,728,000)	(150,572,000)
Total shareholders' equity	3,745,004,000	3,638,686,000
Total liabilities and shareholders' equity	$ 29,051,142,000	$ 28,002,554,000