Exhibit 99.1

For Immediate Release

For more information:

Rex S. Schuette

Chief Financial Officer

(706) 781-2266

Rex_Schuette@ucbi.com

UNITED COMMUNITY BANKS, INC. REPORTS

EARNINGS OF $17.6 MILLION FOR THIRD QUARTER 2014,

UP 38 PERCENT FROM A YEAR AGO

Earnings are 29 cents per diluted share, up 7 percent from second quarter and 38 percent from a year ago
Loans up $159 million, or 14 percent annualized
Net interest margin increases 11 basis points from second quarter
Core transaction deposits up $90 million, or 10 percent annualized

BLAIRSVILLE, GA – October 23, 2014 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today reported net income of $17.6 million, or 29 cents per diluted share, for the third quarter of 2014. Earnings per share were up 7 percent from the second quarter, reflecting strong loan growth, a widening net interest margin, and growth in fee revenue. For the first nine months of 2014, United reported net income of $49.4 million, or 81 cents per diluted share.

“By all measures, we had an exceptional third quarter,” said Jimmy Tallent, president and chief executive officer. “Strong loan growth and an expanding net interest margin increased net interest revenue by $2 million over the second quarter. Our return on assets rose to 95 basis points, seven basis points higher than the second quarter, and close to our goal of 1 percent. Also, our return on equity was 9.4 percent, up 200 basis points from a year ago.

“Third quarter net loan growth of $159 million was driven by strong production across all of our markets,” stated Tallent. “Our strongest area, specialized lending, increased $132 million. This category includes health care, corporate, SBA, asset-based and commercial real estate lending. We also saw solid growth in our Coastal Georgia and Tennessee markets.”

Third quarter taxable equivalent net interest revenue totaled $57.0 million, up $2.0 million from the second quarter and up $2.7 million from the third quarter of 2013. The taxable equivalent net interest margin was 3.32 percent, up 11 basis points from the second quarter and six basis points from a year ago.

“Preserving our net interest margin and growing net interest revenue, while minimizing exposure to changes in interest rates, have been top priorities for growing earnings per share,” said Tallent. “Our third quarter results confirm that we are on the right path. We remain sharply focused on growing loans and core deposits to increase net interest revenue, while expanding products to grow fee revenue. Second quarter balance sheet management activities, which included restructuring the securities portfolio, interest rate hedges and wholesale borrowings, contributed to the widening net interest margin and growth in net interest revenue. We expect our margin to stabilize at the current level into the fourth quarter and 2015. We are seeing the results of these efforts positively impact our earnings growth.”

The third quarter provision for credit losses was $2.0 million, down $200,000 from the second quarter and down $1.0 million from the third quarter of 2013. Third quarter net charge-offs were $3.16 million, compared with $4.18 million in the second quarter and $4.47 million a year ago. Nonperforming assets at quarter-end were $21.9 million, down 8 percent from the second quarter and 28 percent from a year ago. Nonperforming assets at quarter-end represented .29 percent of total assets, compared to .32 percent last quarter and .42 percent a year ago.

Third quarter fee revenue totaled $14.4 million, up $269,000 from the second quarter and $187,000 from the third quarter of 2013. Most of the increase from both prior periods resulted from our growing SBA lending business and related gains on the sales of SBA loans. In the third quarter of 2014, we generated gains on these sales of $945,000 compared with $744,000 in the second quarter. There were no gains from the sale of SBA loans in the third quarter of 2013.

Service charges and fees dipped slightly from both the second quarter and a year ago, mostly due to lower debit card interchange fees. Overdraft fees were also down from the third quarter of 2013. Mortgage fees were up $301,000 from the second quarter, but down $376,000 from a year ago, the decrease reflecting slower mortgage refinancing activity. Closed mortgage loans totaled $84.2 million in the third quarter compared with $68.5 million in the second quarter and $76.6 million in the third quarter of 2013.

Operating expenses were $41.4 million in the third quarter compared to $40.5 million in the second quarter and $40.1 million a year ago. The increase from both prior periods is mostly due to higher staff and incentive costs. Third quarter compensation expense reflects the full cost of additional personnel added through the acquisition of Business Carolina, Inc., which occurred late in the second quarter, as well as staff added for our new vertical SBA business. Occupancy expense was up from the second quarter and a year ago due to higher utilities and maintenance charges, including lease costs for new locations.

Offsetting these increases was a reduction in the deposit insurance assessment rate due to improvement in our credit measures. Additionally, advertising costs were down $245,000 due to one-time branding costs in the second quarter, and other expenses decreased $537,000 primarily due to $486,000 in branch closure and loss share asset costs that were written off last quarter.

“Our operating efficiency ratio improved to 57.96 percent in the third quarter, compared to 58.65 percent in the second quarter,” Tallent said. “We continue to focus on growing revenue while controlling costs.”

On September 30, 2014, capital ratios were as follows: Tier 1 Risk-Based of 12.1 percent; Total Risk-Based of 13.3 percent; Tier 1 Common Risk-Based of 11.0 percent; and Tier 1 Leverage of 8.7 percent.

“We are beginning to see meaningful improvement in our financial results, reflecting the successes of our strategic growth initiatives,” Tallent said. “Our focus on expanding the net interest margin and growing loans, deposits and fee revenue is driving earnings growth. In the third quarter, we saw a return of strong loan growth and meaningful margin expansion despite the ongoing challenging economic environment. Strategic investments in people and new businesses are driving our growth. We will continue investing in our future by hiring top talent to grow our business. As our third quarter results demonstrate, we are on the right track.”

Conference Call

United will hold a conference call today, Thursday, October 23, 2014, at 11 a.m. ET to discuss the contents of this news release and to share business highlights for the quarter. To access the call, dial (877) 380-5665 and use the conference number 16941301. The conference call also will be webcast and can be accessed by selecting “Calendar of Events” within the Investor Relations section of United’s website at www.ucbi.com.

About United Community Banks, Inc.

United Community Banks, Inc. (UCBI) is a bank holding company based in Blairsville, Georgia, with $7.5 billion in assets. The company's banking subsidiary, United Community Bank, is one of the Southeast's largest full-service banks, operating 103 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in personalized community banking services for individuals, small businesses and corporations. A full range of consumer and commercial banking services includes mortgage, advisory, treasury management and other products. National survey organizations consistently recognize United Community Bank for outstanding customer service. Additional information about the company and the bank's full range of products and services can be found at www.ucbi.com.

Safe Harbor

This news release contains forward-looking statements, as defined by federal securities laws, including statements about United’s financial outlook and business environment. These statements are based on current expectations and are provided to assist in the understanding of future financial performance. Such performance involves risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements. For a discussion of some of the risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to United’s filings with the Securities and Exchange Commission including its 2013 Annual Report on Form 10-K under the sections entitled “Forward-Looking Statements” and “Risk Factors.” Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements.

# # #

UNITED COMMUNITY BANKS, INC.
Financial Highlights
Selected Financial Information

																	Third			For the Nine
	2014									2013							Quarter			Months Ended							YTD
(in thousands, except per share	Third			Second			First			Fourth			Third					2014-2013		September 30,								2014-2013
data; taxable equivalent)	Quarter			Quarter			Quarter			Quarter			Quarter				Change				2014			2013			Change
INCOME SUMMARY
Interest revenue	$	63,338		$	61,783		$	60,495		$	61,695		$	61,426						$	185,616		$	185,628
Interest expense		6,371			6,833			6,326			5,816			7,169							19,530			21,866
Net interest revenue		56,967			54,950			54,169			55,879			54,257				5	%		166,086			163,762				1	%
Provision for credit losses		2,000			2,200			2,500			3,000			3,000							6,700			62,500
Fee revenue		14,412			14,143			12,176			13,519			14,225				1			40,731			43,079				(5	)
Total revenue		69,379			66,893			63,845			66,398			65,482							200,117			144,341
Operating expenses		41,364			40,532			39,050			41,614			40,097				3			120,946			132,690				(9	)
Income before income taxes		28,015			26,361			24,795			24,784			25,385				10			79,171			11,651
Income tax expense (benefit)		10,399			10,004			9,395			8,873			9,885							29,798			(245,578	)
Net income		17,616			16,357			15,400			15,911			15,500				14			49,373			257,229
Preferred dividends and discount accretion		-			-			439			2,912			3,059							439			9,166
Net income available to common shareholders	$	17,616		$	16,357		$	14,961		$	12,999		$	12,441				42		$	48,934		$	248,063

PERFORMANCE MEASURES
Per common share:
Diluted income	$	.29		$	.27		$	.25		$	.22		$	.21				38		$	.81		$	4.24
Book value		12.15			11.94			11.66			11.30			10.99				11			12.15			10.99				11
Tangible book value (2)		12.10			11.91			11.63			11.26			10.95				11			12.10			10.95				11

Key performance ratios:
Return on common equity (1)(3)		9.41	%		8.99	%		8.64	%		7.52	%		7.38		%					9.02	%		64.29		%
Return on assets (3)		.95			.88			.85			.86			.86							.89			4.93
Net interest margin (3)		3.32			3.21			3.21			3.26			3.26							3.25			3.32
Efficiency ratio		57.96			58.65			59.05			60.02			58.55							58.54			64.19
Equity to assets		9.85			9.61			9.52			11.62			11.80							9.66			9.91
Tangible equity to assets (2)		9.83			9.58			9.50			11.59			11.76							9.64			9.85
Tangible common equity to assets (2)		9.83			9.58			9.22			8.99			9.02							9.55			7.04
Tangible common equity to risk- weighted assets (2)		14.10			13.92			13.63			13.18			13.34							14.10			13.34

ASSET QUALITY *
Non-performing loans	$	18,745		$	20,724		$	25,250		$	26,819		$	26,088						$	18,745		$	26,088
Foreclosed properties		3,146			2,969			5,594			4,221			4,467							3,146			4,467
Total non-performing assets (NPAs)		21,891			23,693			30,844			31,040			30,555							21,891			30,555
Allowance for loan losses		71,928			73,248			75,223			76,762			80,372							71,928			80,372
Net charge-offs		3,155			4,175			4,039			4,445			4,473							11,369			89,265
Allowance for loan losses to loans		1.57	%		1.66	%		1.73	%		1.77	%		1.88	%						1.57	%		1.88	%
Net charge-offs to average loans (3)		.28			.38			.38			.41			.42							.35			2.84
NPAs to loans and foreclosed properties		.48			.54			.71			.72			.72							.48			.72
NPAs to total assets		.29			.32			.42			.42			.42							.29			.42

AVERAGE BALANCES ($ in millions)
Loans	$	4,446		$	4,376		$	4,356		$	4,315		$	4,250				5		$	4,393		$	4,234				4
Investment securities		2,231			2,326			2,320			2,280			2,178				2			2,292			2,160				6
Earning assets		6,820			6,861			6,827			6,823			6,615				3			6,836			6,590				4
Total assets		7,374			7,418			7,384			7,370			7,170				3			7,392			6,974				6
Deposits		6,143			6,187			6,197			6,190			5,987				3			6,176			5,972				3
Shareholders’ equity		726			713			703			856			846				(14	)		714			691				3
Common shares - basic (thousands)		60,776			60,712			60,059			59,923			59,100							60,511			58,443
Common shares - diluted (thousands)		60,779			60,714			60,061			59,925			59,202							60,513			58,444

AT PERIOD END ($ in millions)
Loans *	$	4,569		$	4,410		$	4,356		$	4,329		$	4,267				7		$	4,569		$	4,267				7
Investment securities		2,222			2,190			2,302			2,312			2,169				2			2,222			2,169				2
Total assets		7,526			7,352			7,398			7,425			7,243				4			7,526			7,243				4
Deposits		6,241			6,164			6,248			6,202			6,113				2			6,241			6,113				2
Shareholders’ equity		736			722			704			796			852				(14	)		736			852				(14	)
Common shares outstanding (thousands)		60,248			60,139			60,092			59,432			59,412							60,248			59,412

(1) Net income available to common shareholders, which is net of preferred stock dividends, divided by average realized common equity, which excludes accumulated other comprehensive income (loss). (2) Excludes effect of acquisition related intangibles and associated amortization. (3) Annualized.

* Excludes loans and foreclosed properties covered by loss sharing agreements with the FDIC.

UNITED COMMUNITY BANKS, INC.
Non-GAAP Performance Measures Reconciliation
Selected Financial Information

	2014									2013						For the Nine Months
(in thousands, except per share	Third			Second			First			Fourth			Third			Ended September 30,
data; taxable equivalent)	Quarter			Quarter			Quarter			Quarter			Quarter			2014			2013

Interest revenue reconciliation
Interest revenue - taxable equivalent	$	63,338		$	61,783		$	60,495		$	61,695		$	61,426		$	185,616		$	185,628
Taxable equivalent adjustment		(405	)		(377	)		(357	)		(380	)		(370	)		(1,139	)		(1,103	)
Interest revenue (GAAP)	$	62,933		$	61,406		$	60,138		$	61,315		$	61,056		$	184,477		$	184,525

Net interest revenue reconciliation
Net interest revenue - taxable equivalent	$	56,967		$	54,950		$	54,169		$	55,879		$	54,257		$	166,086		$	163,762
Taxable equivalent adjustment		(405	)		(377	)		(357	)		(380	)		(370	)		(1,139	)		(1,103	)
Net interest revenue (GAAP)	$	56,562		$	54,573		$	53,812		$	55,499		$	53,887		$	164,947		$	162,659

Total revenue reconciliation
Total operating revenue	$	69,379		$	66,893		$	63,845		$	66,398		$	65,482		$	200,117		$	144,341
Taxable equivalent adjustment		(405	)		(377	)		(357	)		(380	)		(370	)		(1,139	)		(1,103	)
Total revenue (GAAP)	$	68,974		$	66,516		$	63,488		$	66,018		$	65,112		$	198,978		$	143,238

Income before taxes reconciliation
Income before taxes	$	28,015		$	26,361		$	24,795		$	24,784		$	25,385		$	79,171		$	11,651
Taxable equivalent adjustment		(405	)		(377	)		(357	)		(380	)		(370	)		(1,139	)		(1,103	)
Income before taxes (GAAP)	$	27,610		$	25,984		$	24,438		$	24,404		$	25,015		$	78,032		$	10,548

Income tax expense (benefit) reconciliation
Income tax expense (benefit)	$	10,399		$	10,004		$	9,395		$	8,873		$	9,885		$	29,798		$	(245,578	)
Taxable equivalent adjustment		(405	)		(377	)		(357	)		(380	)		(370	)		(1,139	)		(1,103	)
Income tax expense (benefit) (GAAP)	$	9,994		$	9,627		$	9,038		$	8,493		$	9,515		$	28,659		$	(246,681	)

Book value per common share reconciliation
Tangible book value per common share	$	12.10		$	11.91		$	11.63		$	11.26		$	10.95		$	12.10		$	10.95
Effect of goodwill and other intangibles		.05			.03			.03			.04			.04			.05			.04
Book value per common share (GAAP)	$	12.15		$	11.94		$	11.66		$	11.30		$	10.99		$	12.15		$	10.99

Average equity to assets reconciliation
Tangible common equity to assets		9.83	%		9.58	%		9.22	%		8.99	%		9.02	%		9.55	%		7.04	%
Effect of preferred equity		-			-			.28			2.60			2.74			.09			2.81
Tangible equity to assets		9.83			9.58			9.50			11.59			11.76			9.64			9.85
Effect of goodwill and other intangibles		.02			.03			.02			.03			.04			.02			.06
Equity to assets (GAAP)		9.85	%		9.61	%		9.52	%		11.62	%		11.80	%		9.66	%		9.91	%

Tangible common equity to risk-weighted assets reconciliation
Tangible common equity to risk-weighted assets		14.10	%		13.92	%		13.63	%		13.18	%		13.34	%		14.10	%		13.34	%
Effect of other comprehensive income		.34			.53			.36			.39			.49			.34			.49
Effect of deferred tax limitation		(3.39	)		(3.74	)		(3.92	)		(4.26	)		(4.72	)		(3.39	)		(4.72	)
Effect of trust preferred		1.02			1.04			1.03			1.04			1.09			1.02			1.09
Effect of preferred equity		-			-			-			2.39			4.01			-			4.01
Tier I capital ratio (Regulatory)		12.07	%		11.75	%		11.10	%		12.74	%		14.21	%		12.07	%		14.21	%


	2014						2013				Linked Quarter Change			Year over Year Change
	Third		Second		First		Fourth		Third
(in millions)	Quarter		Quarter		Quarter		Quarter		Quarter
LOANS BY CATEGORY
Owner occupied commercial RE	$	1,153	$	1,163	$	1,142	$	1,134	$	1,129	$	(10	)	$	24
Income producing commercial RE		605		598		624		623		614		7			(9	)
Commercial & industrial		650		554		495		472		457		96			193
Commercial construction		181		160		148		149		137		21			44
Total commercial		2,589		2,475		2,409		2,378		2,337		114			252
Residential mortgage		866		861		866		875		888		5			(22	)
Home equity lines of credit		459		451		447		441		421		8			38
Residential construction		307		302		318		328		318		5			(11	)
Consumer installment		348		321		316		307		303		27			45
Total loans	$	4,569	$	4,410	$	4,356	$	4,329	$	4,267		159			302

LOANS BY MARKET
North Georgia	$	1,168	$	1,175	$	1,205	$	1,240	$	1,262		(7	)		(94	)
Atlanta MSA		1,289		1,305		1,290		1,275		1,246		(16	)		43
North Carolina		553		555		563		572		575		(2	)		(22	)
Coastal Georgia		444		426		425		423		421		18			23
Gainesville MSA		254		257		262		255		253		(3	)		1
East Tennessee		281		270		272		280		277		11			4
South Carolina / Corporate		337		206		131		88		47		131			290
Other (2)		243		216		208		196		186		27			57
Total loans	$	4,569	$	4,410	$	4,356	$	4,329	$	4,267		159			302

RESIDENTIAL CONSTRUCTION
Dirt loans
Acquisition & development	$	36	$	34	$	37	$	39	$	40		2			(4	)
Land loans		35		36		37		38		35		(1	)		-
Lot loans		146		151		159		166		167		(5	)		(21	)
Total		217		221		233		243		242		(4	)		(25	)

House loans
Spec		18		19		19		23		30		(1	)		(12	)
Sold		72		62		66		62		46		10			26
Total		90		81		85		85		76		9			14
Total residential construction	$	307	$	302	$	318	$	328	$	318		5			(11	)

(1) Excludes total loans of $2.8 million, $3.1 million, $19.3 million, $20.3 million and $23.3 million as of September 30, 2014, June 30, 2014, March 31, 2014, December 31, 2013 and September 30, 2013, respectively, that are covered by the loss-sharing agreement with the FDIC, related to the acquisition of Southern Community Bank. (2) Includes purchased indirect auto loans that are not assigned to a geographic region.

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Credit Quality (1)


	Third Quarter 2014									Second Quarter 2014									First Quarter 2014
	Non-performing			Foreclosed			Total			Non-performing			Foreclosed			Total			Non-performing			Foreclosed			Total
(in thousands)	Loans			Properties			NPAs			Loans			Properties			NPAs			Loans			Properties			NPAs
NONPERFORMING ASSETS BY CATEGORY
Owner occupied CRE	$	2,156		$	1,024		$	3,180		$	2,975		$	653		$	3,628		$	3,868		$	1,167		$	5,035
Income producing CRE		1,742			42			1,784			1,032			242			1,274			1,278			1,645			2,923
Commercial & industrial		1,593			-			1,593			1,102			-			1,102			822			-			822
Commercial construction		148			-			148			95			-			95			479			-			479
Total commercial		5,639			1,066			6,705			5,204			895			6,099			6,447			2,812			9,259
Residential mortgage		8,350			1,769			10,119			10,201			1,426			11,627			13,307			2,146			15,453
Home equity lines of credit		720			90			810			510			128			638			1,106			362			1,468
Residential construction		3,543			221			3,764			4,248			520			4,768			3,805			274			4,079
Consumer installment		493			-			493			561			-			561			585			-			585
Total NPAs	$	18,745		$	3,146		$	21,891		$	20,724		$	2,969		$	23,693		$	25,250		$	5,594		$	30,844
Balance as a % of
Unpaid Principal		68.6	%		54.5	%		66.1	%		66.5	%		50.4	%		63.9	%		65.8	%		53.9	%		63.2	%

NONPERFORMING ASSETS BY MARKET
North Georgia	$	7,392		$	1,717		$	9,109		$	8,216		$	1,392		$	9,608		$	12,166		$	2,058		$	14,224
Atlanta MSA		1,724			364			2,088			3,883			510			4,393			2,916			904			3,820
North Carolina		4,919			398			5,317			5,314			615			5,929			6,501			866			7,367
Coastal Georgia		781			160			941			782			80			862			800			1,607			2,407
Gainesville MSA		1,403			85			1,488			921			49			970			1,145			-			1,145
East Tennessee		1,227			245			1,472			1,218			323			1,541			1,428			159			1,587
South Carolina / Corporate		945			177			1,122			-			-			-			-			-			-
Other (3)		354			-			354			390			-			390			294			-			294
Total NPAs	$	18,745		$	3,146		$	21,891		$	20,724		$	2,969		$	23,693		$	25,250		$	5,594		$	30,844

NONPERFORMING ASSETS ACTIVITY
Beginning Balance	$	20,724		$	2,969		$	23,693		$	25,250		$	5,594		$	30,844		$	26,819		$	4,221		$	31,040
Loans placed on non-accrual		7,665			-			7,665			9,529			-			9,529			9,303			-			9,303
Payments received		(3,129	)		-			(3,129	)		(4,027	)		-			(4,027	)		(1,666	)		-			(1,666	)
Loan charge-offs		(4,353	)		-			(4,353	)		(8,341	)		-			(8,341	)		(4,839	)		-			(4,839	)
Foreclosures		(2,162	)		2,162			-			(1,687	)		1,687			-			(4,367	)		4,367			-
Capitalized costs		-			209			209			-			-			-			-			-			-
Property sales		-			(2,350	)		(2,350	)		-			(4,430	)		(4,430	)		-			(3,238	)		(3,238	)
Write downs		-			(108	)		(108	)		-			(305	)		(305	)		-			(277	)		(277	)
Net gains (losses) on sales		-			264			264			-			423			423			-			521			521
Ending Balance	$	18,745		$	3,146		$	21,891		$	20,724		$	2,969		$	23,693		$	25,250		$	5,594		$	30,844

	Third Quarter 2014						Second Quarter 2014						First Quarter 2014
				Net Charge-						Net Charge-					Net Charge-
				Offs to						Offs to					Offs to
	Net			Average			Net			Average			Net		Average
(in thousands)	Charge-Offs			Loans (2)			Charge-Offs			Loans (2)			Charge-Offs		Loans (2)
NET CHARGE-OFFS BY CATEGORY
Owner occupied CRE	$	746			.26	%	$	(1,836	)		(.64	)%	$	278		.10	%
Income producing CRE		104			.07			435			.29			205		.13
Commercial & industrial		(341	)		(.23	)		662			.52			421		.35
Commercial construction		103			.24			131			.34			-		-
Total commercial		612			.10			(608	)		(.10	)		904		.15
Residential mortgage		1,116			.52			2,509			1.17			1,515		.71
Home equity lines of credit		356			.31			466			.42			993		.90
Residential construction		712			.94			1,671			2.13			212		.27
Consumer installment		359			.43			137			.18			415		.54
Total	$	3,155			.28		$	4,175			.38		$	4,039		.38

NET CHARGE-OFFS BY MARKET
North Georgia	$	1,861			.63	%	$	(741	)		(.25	)%	$	1,272		.42	%
Atlanta MSA		(250	)		(.08	)		1,481			.46			1,232		.39
North Carolina		656			.47			2,161			1.55			577		.41
Coastal Georgia		228			.21			116			.11			512		.49
Gainesville MSA		259			.40			797			1.23			141		.22
East Tennessee		230			.33			288			.42			239		.35
South Carolina / Corporate		5			.01			-			-			-		-
Other (3)		166			.31			73			.14			66		.14
Total	$	3,155			.28		$	4,175			.38		$	4,039		.38

(1) Excludes non-performing loans and foreclosed properties covered by the loss-sharing agreement with the FDIC, related to the acquisition of Southern Community Bank.

(2) Annualized.

(3) Includes purchased indirect auto loans that are not assigned to a geographic region.

UNITED COMMUNITY BANKS, INC.
Consolidated Statement of Income (Unaudited)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2014		2013		2014			2013
Interest revenue:
Loans, including fees	$	49,653	$	50,162	$	145,602		$	151,827
Investment securities, including tax exempt of $177, $202, $558 and $624		12,346		9,887		36,118			29,905
Deposits in banks and short-term investments		934		1,007		2,757			2,793
Total interest revenue		62,933		61,056		184,477			184,525

Interest expense:
Deposits:
NOW		365		413		1,216			1,286
Money market		872		545		2,192			1,641
Savings		20		37		61			109
Time		1,721		2,630		5,510			8,871
Total deposit interest expense		2,978		3,625		8,979			11,907
Short-term borrowings		316		525		2,064			1,563
Federal Home Loan Bank advances		435		16		573			65
Long-term debt		2,642		3,003		7,914			8,331
Total interest expense		6,371		7,169		19,530			21,866
Net interest revenue		56,562		53,887		164,947			162,659
Provision for credit losses		2,000		3,000		6,700			62,500
Net interest revenue after provision for credit losses		54,562		50,887		158,247			100,159

Fee revenue:
Service charges and fees		8,202		8,456		24,627			23,831
Mortgage loan and other related fees		2,178		2,554		5,409			8,212
Brokerage fees		1,209		1,274		3,631			3,104
Securities gains, net		11		-		4,663			116
Loss from prepayment of debt		-		-		(4,446	)		-
Other		2,812		1,941		6,847			7,816
Total fee revenue		14,412		14,225		40,731			43,079
Total revenue		68,974		65,112		198,978			143,238

Operating expenses:
Salaries and employee benefits		25,666		23,090		74,349			71,416
Communications and equipment		3,094		3,305		9,370			9,819
Occupancy		3,425		3,379		10,065			10,195
Advertising and public relations		894		962		2,659			2,937
Postage, printing and supplies		876		644		2,456			2,401
Professional fees		2,274		2,650		5,873			7,515
Foreclosed property		285		194		503			7,678
FDIC assessments and other regulatory charges		1,131		2,405		3,909			7,415
Amortization of intangibles		313		427		1,061			1,623
Other		3,406		3,041		10,701			11,691
Total operating expenses		41,364		40,097		120,946			132,690
Net income before income taxes		27,610		25,015		78,032			10,548
Income tax expense (benefit)		9,994		9,515		28,659			(246,681	)
Net income		17,616		15,500		49,373			257,229
Preferred stock dividends and discount accretion		-		3,059		439			9,166
Net income available to common shareholders	$	17,616	$	12,441	$	48,934		$	248,063

Earnings per common share:
Basic	$	.29	$	.21	$	.81		$	4.24
Diluted		.29		.21		.81			4.24
Weighted average common shares outstanding:
Basic		60,776		59,100		60,511			58,443
Diluted		60,779		59,202		60,513			58,444

UNITED COMMUNITY BANKS, INC.
Consolidated Balance Sheet (Unaudited)
	September 30,			December 31,			September 30,
(in thousands, except share and per share data)	2014			2013			2013

ASSETS
Cash and due from banks	$	75,268		$	71,230		$	70,986
Interest-bearing deposits in banks		117,399			119,669			131,147
Short-term investments		23,397			37,999			62,000
Cash and cash equivalents		216,064			228,898			264,133
Securities available for sale		1,789,667			1,832,217			1,963,424
Securities held to maturity (fair value $440,311, $485,585 and $214,651)		432,418			479,742			205,613
Mortgage loans held for sale		20,004			10,319			11,987
Loans, net of unearned income		4,568,886			4,329,266			4,267,067
Less allowance for loan losses		(71,928	)		(76,762	)		(80,372	)
Loans, net		4,496,958			4,252,504			4,186,695
Assets covered by loss sharing agreements with the FDIC		3,253			22,882			31,207
Premises and equipment, net		160,454			163,589			165,993
Bank owned life insurance		81,101			80,670			80,537
Accrued interest receivable		19,908			19,598			18,199
Goodwill and other intangible assets		3,910			3,480			3,888
Foreclosed property		3,146			4,221			4,467
Net deferred tax asset		224,734			258,518			269,784
Derivative financial instruments		22,221			23,833			8,092
Other assets		52,051			44,948			29,274
Total assets	$	7,525,889		$	7,425,419		$	7,243,293
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Demand	$	1,561,020		$	1,388,512		$	1,418,782
NOW		1,399,449			1,427,939			1,279,134
Money market		1,281,526			1,227,575			1,197,495
Savings		287,797			251,125			249,044
Time:
Less than $100,000		774,201			892,961			925,089
Greater than $100,000		531,428			588,689			624,019
Brokered		405,308			424,704			419,344
Total deposits		6,240,729			6,201,505			6,112,907
Short-term borrowings		6,001			53,241			53,769
Federal Home Loan Bank advances		330,125			120,125			125
Long-term debt		129,865			129,865			129,865
Derivative financial instruments		36,171			46,232			37,269
Unsettled securities purchases		-			29,562			11,610
Accrued expenses and other liabilities		46,573			49,174			45,531
Total liabilities		6,789,464			6,629,704			6,391,076
Shareholders’ equity:
Preferred stock, $1 par value; 10,000,000 shares authorized;
Series A; $10 stated value; 0, 0 and 21,700 shares issued and outstanding		-			-			217
Series B; $1,000 stated value; 0, 105,000 and 180,000 shares issued and outstanding		-			105,000			179,714
Series D; $1,000 stated value; 0, 16,613 and 16,613 shares issued and outstanding		-			16,613			16,613
Common stock, $1 par value; 100,000,000 shares authorized;50,167,191, 46,243,345 and 45,222,839 shares issued and outstanding		50,167			46,243			45,223
Common stock, non-voting, $1 par value; 26,000,000 shares authorized;10,080,787, 13,188,206 and 14,189,006 shares issued and outstanding		10,081			13,188			14,189
Common stock issuable; 354,961, 241,832 and 242,262 shares		5,116			3,930			3,979
Capital surplus		1,091,555			1,078,676			1,077,536
Accumulated deficit		(402,773	)		(448,091	)		(461,090	)
Accumulated other comprehensive loss		(17,721	)		(19,844	)		(24,164	)
Total shareholders’ equity		736,425			795,715			852,217
Total liabilities and shareholders’ equity	$	7,525,889		$	7,425,419		$	7,243,293

UNITED COMMUNITY BANKS, INC.
Average Consolidated Balance Sheets and Net Interest Analysis
For the Three Months Ended September 30,
	2014								2013
	Average					Avg.			Average					Avg.
(dollars in thousands, taxable equivalent)	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (1)(2)	$	4,445,947		$	49,853		4.45	%	$	4,249,892		$	50,265		4.69	%
Taxable securities (3)		2,212,116			12,169		2.20			2,157,448			9,685		1.80
Tax-exempt securities (1)(3)		18,794			290		6.17			20,913			331		6.32
Federal funds sold and other interest-earning assets		143,169			1,026		2.87			186,544			1,145		2.46
Total interest-earning assets		6,820,026			63,338		3.69			6,614,797			61,426		3.69
Non-interest-earning assets:
Allowance for loan losses		(74,146	)							(83,408	)
Cash and due from banks		71,224								63,890
Premises and equipment		161,315								166,906
Other assets (3)		395,184								407,912
Total assets	$	7,373,603							$	7,170,097

Liabilities and Shareholders’ Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,331,806			365		.11		$	1,222,334			413		.13
Money market		1,387,042			872		.25			1,328,661			545		.16
Savings		282,746			20		.03			248,937			37		.06
Time less than $100,000		791,289			876		.44			952,320			1,369		.57
Time greater than $100,000		542,216			827		.61			644,264			1,229		.76
Brokered time deposits		278,330			18		.03			233,842			32		.05
Total interest-bearing deposits		4,613,429			2,978		.26			4,630,358			3,625		.31

Federal funds purchased and other borrowings		53,713			316		2.33			67,292			525		3.10
Federal Home Loan Bank advances		227,190			435		.76			32,082			16		.20
Long-term debt		129,865			2,642		8.07			144,601			3,003		8.24
Total borrowed funds		410,768			3,393		3.28			243,975			3,544		5.76
Total interest-bearing liabilities		5,024,197			6,371		.50			4,874,333			7,169		.58
Non-interest-bearing liabilities:
Non-interest-bearing deposits		1,530,011								1,356,792
Other liabilities		92,986								93,247
Total liabilities		6,647,194								6,324,372
Shareholders’ equity		726,409								845,725
Total liabilities and shareholders’ equity	$	7,373,603							$	7,170,097

Net interest revenue				$	56,967							$	54,257
Net interest-rate spread							3.19	%							3.11	%

Net interest margin (4)							3.32	%							3.26	%

(1) Interest revenue on tax-exempt securities and loans has been increased to reflect comparable interest on taxable securities and loans. The rate used was 39%, reflecting the statutory federal income tax rate and the federal tax adjusted state income tax rate.

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

(3) Securities available for sale are shown at amortized cost. Pretax unrealized gains of $7.42 million in 2014 and pretax unrealized losses of $10.6 million in 2013 are included in other assets for purposes of this presentation.

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

UNITED COMMUNITY BANKS, INC.
Average Consolidated Balance Sheets and Net Interest Analysis
For the Nine Months Ended September 30,
	2014								2013
	Average					Avg.			Average					Avg.
(dollars in thousands, taxable equivalent)	Balance			Interest		Rate			Balance			Interest		Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (1)(2)	$	4,392,895		$	146,156		4.45	%	$	4,233,531		$	152,073		4.80	%
Taxable securities (3)		2,272,639			35,560		2.09			2,138,725			29,281		1.83
Tax-exempt securities (1)(3)		19,515			914		6.24			21,411			1,022		6.36
Federal funds sold and other interest-earning assets		150,782			2,986		2.64			196,445			3,252		2.21
Total interest-earning assets		6,835,831			185,616		3.63			6,590,112			185,628		3.76
Non-interest-earning assets:
Allowance for loan losses		(76,148	)							(100,154	)
Cash and due from banks		65,744								63,879
Premises and equipment		161,843								168,144
Other assets (3)		404,654								252,275
Total assets	$	7,391,924							$	6,974,256

Liabilities and Shareholders’ Equity:
Interest-bearing liabilities:
Interest-bearing deposits:
NOW	$	1,367,713			1,216		.12		$	1,256,684			1,286		.14
Money market		1,375,064			2,192		.21			1,297,792			1,641		.17
Savings		272,696			61		.03			242,807			109		.06
Time less than $100,000		828,694			2,822		.46			997,193			4,686		.63
Time greater than $100,000		561,167			2,610		.62			670,821			4,086		.81
Brokered time deposits		300,374			78		.03			201,599			99		.07
Total interest-bearing deposits		4,705,708			8,979		.26			4,666,896			11,907		.34
Federal funds purchased and other borrowings		91,320			2,064		3.02			70,512			1,563		2.96
Federal Home Loan Bank advances		169,392			573		.45			41,352			65		.21
Long-term debt		129,865			7,914		8.15			131,491			8,331		8.47
Total borrowed funds		390,577			10,551		3.61			243,355			9,959		5.47
Total interest-bearing liabilities		5,096,285			19,530		.51			4,910,251			21,866		.60
Non-interest-bearing liabilities:
Non-interest-bearing deposits		1,469,967								1,305,133
Other liabilities		111,522								68,312
Total liabilities		6,677,774								6,283,696
Shareholders’ equity		714,150								690,560
Total liabilities and shareholders’ equity	$	7,391,924							$	6,974,256
Net interest revenue				$	166,086							$	163,762
Net interest-rate spread							3.12	%							3.16	%

Net interest margin (4)							3.25	%							3.32	%

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

(3) Securities available for sale are shown at amortized cost. Pretax unrealized gains of $1.59 million in 2014 and pretax unrealized gains of $7.96 million in 2013 are included in other assets for purposes of this presentation.

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

UNITED COMMUNITY BANKS, INC.

Financial Highlights

Loan Portfolio Composition at Period-End (1)