United Community Banks, Inc. · NYSE:UCB

United Community Banks — Q2 2011 Earnings Presentation

59 slides from United Community Banks's earnings presentation, Jul 28, 2011

  1. Slide 1: United Community Banks, Inc. Investor Presentation Second Quarter 2011

    United Community Banks, Inc. Investor Presentation Second Quarter 2011 Jimmy C. Tallent Rex S. Schuette David P. Shearrow President & CEO EVP & CFO EVP & CRO rex_schuette@ucbi.com (706) 781-2266

  2. Slide 2: Cautionary Statement

    Cautionary Statement 2 This presentation contains forward‐looking statements, as defined by Federal Securities Laws, including statements about financial outlook and business environment. These statements are provided to assist in the understanding of future financial performance. Such performance i

  3. Slide 3: Non-GAAP Measures

    Non‐GAAP Measures 3 This presentation also contains non‐GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles (“GAAP”). Such non‐GAAP financial measures include the following: net interest margin – pre credit, core net interest margin, c

  4. Slide 4: Highlights Second Quarter

    Highlights Second Quarter 4 Returned to profitability Completion of Bulk Loan Sale Conversion of Preferred Stock and Reverse Stock Split Credit Quality Continues to Improve ƒ Customer service and core deposits

  5. Slide 5: Loan Portfolio & Credit Quality

    5 LOAN PORTFOLIO & CREDIT QUALITY

  6. Slide 6: Proactively Addressing Credit Environment

    Proactively Addressing Credit Environment 6 Structure ƒ Centralized underwriting and approval process ƒ Segregated work‐out teams ƒ Highly skilled ORE disposition group ƒ Seasoned regional credit professionals Process ƒ Continuous external loan review ƒ Intensive executive management involvement: o

  7. Slide 7: Loan Portfolio (total $4.16 billion)

    Loan Portfolio (total $4.16 billion) 7 Geographic Diversity $.50B $ in millions Residential Construction $1.18B .12B East Tennessee 12% Residential Installment 6% $249 3% Mortgage 28% Gainesville MSA 7% $275 Coastal Georgia 8% $325 $2.36B Commercial Western North 57% Carolina 15% $626 Atlanta MSA 28

  8. Slide 8: Commercial Loans (total $2.36 billion)

    Commercial Loans (total $2.36 billion) 8 $.19B Geographic Diversity Comm $ in millions Const 8% $.43B East Tennessee C& I 6% $146 18% $1.01B Gainesville MSA Owner 8% $175 Occupied $.73B 46% Coastal Georgia Income 9% $217 Producing 28% Western North Carolina 9% $204 North Georgia 30% $714 Atlanta MSA

  9. Slide 9: Commercial Real Estate (by loan type)

    Commercial Real Estate (by loan type) 9 (in millions) June 30, 2011 Portfolio Characteristics Owner Income Loan Type Occupied Producing Total Percent Office Buildings $ 250 $ 203 $ 453 26 % 58% owner-occupied Retail 112 144 256 15 Small Warehouses/Storage 114 73 187 11 Small business, doctors, Churc

  10. Slide 10: Commercial Construction (by loan type)

    Commercial Construction (by loan type) 10 (in millions) June 30, 2011 Loan Type Amount Percent Land Develop - Vacant (Improved) $ 70 36 % Portfolio Characteristics Raw Land - Vacant (Unimproved) 61 31 Commercial Land Development 27 14 Average loan size: $487k Office Buildings 10 5 Retail Buildings 4

  11. Slide 11: Residential Mortgage (total $1.18 billion)

    Residential Mortgage (total $1.18 billion) 11 Geographic Diversity $.31B Home Equity $ in millions 26% Gainesville MSA Avg loan 6% $66 size: $44k Coastal Georgia $.87B 7% $79 Mortgage Avg loan 74% size: $93k East Tennessee 7% $80 Atlanta MSA 14% $164 Western North Carolina 26% $303 North Georgia Ori

  12. Slide 12: Residential Construction (total $.50 billion)

    Residential Construction (total $.50 billion) 12 Geographic Diversity La $.06B nd $.11B $ in millions Raw Developing 12% 22% East Tennessee 3% $13 $.04B Gainesville MSA Sold 5% $25 8% Developing $.22B Lot Coastal Georgia $.07B 44% 5% $24 Spec 14% Atlanta MSA Co ns 19% $96 tru c tio n Western North C

  13. Slide 13: Residential Construction – Total Company

    Residential Construction – Total Company 13 2Q11 vs. (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 2Q10 Land Loans Developing Land $ 105 $ 116 $ 174 $ 190 $ 214 $ (109) Raw Land 62 69 99 104 110 (48) Lot Loans 218 228 275 303 311 (93) Total 385 413 548 597 635 (250) Construction Loans Spec 74 88 97 109 125

  14. Slide 14: Residential Construction – North Georgia

    Residential Construction – North Georgia 14 2Q11 vs. (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 2Q10 Land Loans Developing Land $ 58 $ 62 $ 88 $ 98 $ 113 $ (55) Raw Land 25 27 40 42 45 (20) Lot Loans 129 131 159 168 182 (53) Total 212 220 287 308 340 (128) Construction Loans Spec 18 25 31 38 44 (26) Sol

  15. Slide 15: Residential Construction – Atlanta MSA

    Residential Construction – Atlanta MSA 15 2Q11 vs. (in millions) 1Q11 1Q11 4Q10 3Q10 2Q10 2Q10 Land Loans Developing Land $ 20 $ 22 $ 30 $ 34 $ 40 $ (20) Raw Land 16 19 23 27 32 (16) Lot Loans 22 24 32 45 39 (17) Total 58 65 85 106 111 (53) Construction Loans Spec 30 34 38 42 48 (18) Sold 9 11 10 11

  16. Slide 16: Credit Quality

    Credit Quality 16 (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 (1) Operating Net Charge-offs $ 16.5 $ 231.6 $ 47.7 $ 50.0 $ 61.3 as % of Average Loans (1) 1.58 % 20.70 % 4.03 % 4.12 % 4.98 % Allowance for Loan Losses $ 127.6 $ 133.1 $ 174.7 $ 174.6 $ 174.1 as % of Total Loans 3.07 % 3.17 % 3.79 % 3.67 % 3

  17. Slide 17: Quarterly Default Rate / NPL Inflow Trends

    NPL Inflow Trends 17 Quarterly NPL Inflows and Default Rates Since 2009 $193.3 81.4% Quarterly Default Rate $200.0 Decline 4.0% NPL Inflows ($mm) $174.8 $177.7 $174.9 $155.0 from Peak 3.5% $150.0 $139.0 3.0% $119.8 2.5% $100.0 $81.0 2.0% 1.5% $54.7 $50.0 $35.9 1.0% 0.5% $0.0 0.0% Q1 '09 Q2 '09 Q3 '0

  18. Slide 18: Net Charge-offs by Loan Category

    Net Charge‐offs by Loan Category 18 (in thousands) 2Q11 % of Average Loans (Annualized) Net Charge-Offs Bulk Loan % of Avg Total Sale Other Loans (1) 1Q11 (1) 4Q10(2) 3Q10 Commercial (Sec. by RE) $ 3,259 $ (1,713) $ 4,972 1.16 .65 1.45 3.16 Commercial Construction 869 (1,332) 2,201 4.31 1.77 5.12 2.

  19. Slide 19: Net Charge-offs by Market

    Net Charge‐offs by Market 19 (in thousands) 2Q11 % of Average Loans (Annualized) Net Charge-Offs Bulk Loan % of Avg Total Sale Other Loans (1) 1Q11(1) 4Q10(2) 3Q10 Atlanta MSA $ 2,920 $ (1,955) $ 4,875 1.66 % 1.04 % 4.48 % 3.97 % Gainesville MSA 2,318 (258) 2,576 3.73 1.32 4.37 1.40 North Georgia 6,

  20. Slide 20: NPAs by Loan Category and Market

    NPAs by Loan Category and Market 20 (in thousands) 2Q11 2Q11 NPLs OREO Total NPAs NPLs OREO Total NPAs LOAN CATEGORY MARKETS Commercial (sec. by RE) $ 17,764 $ 6,796 $ 24,560 Atlanta MSA $ 14,700 $ 11,239 $ 25,939 Commercial Construction 2,782 6,764 9,546 Gainesville MSA 4,505 3,174 7,679 Commercial

  21. Slide 21: Financial Review

    Financial Review FINANCIAL RESULTS 21

  22. Slide 22: Core Earnings Summary

    Core Earnings Summary 22 (In Thousands) Variance - Fav (Unfav) 2Q11 1Q11 2Q10 (1) Net Interest Revenue $ 58,946 $ 540 $ (2,681) Fee Revenue 13,913 2,130 2,334 Gross Revenue 72,859 2,670 (347) Operating Expense (Excl OREO) 46,837 (65) (3,069) Pre-Tax, Pre-Credit (Core) $ 26,022 $ 2,605 $ (3,416) (1)

  23. Slide 23: Net Interest Margin

    Net Interest Margin 23 4.37% 4.47% NIM Characteristics 4.5% 4.24% 4.13% 4.05% 3.87% 3.71% Core margin changes 3.57% 3.58% 3.41% 3.60% 3.41% 3.0% ‐Flat with 1Q11 ‐19 bps vs. 2Q10 1.5% Maintained loan pricing Lowered core & CD pricing .0% 2Q10 3Q10 4Q10 1Q11 2Q11 NIM 2Q Excess liquidity – NIM – Core C

  24. Slide 24: Margin – Credit Costs

    Margin – Credit Costs 24 .70% .64% Credit Costs .60% .56% Impacting Margin .19% .50% .14% .47% .46% Historically 8 to 12 bps .40% .11% .11% .25% .30% Credit costs – significantly lower .30% .22% .19% .16% .05% .07% Cost 2Q11 vs. Historical – 18 bps .20% (annual earnings impact of $12.4 .10% .20% .20

  25. Slide 25: Deposit Mix (total $6.2 billion)

    Deposit Mix (total $6.2 billion) 25 ($ in millions) 2Q11 $6.2B Brokered Demand & NOW Public Funds 5% 26% 2Q11 1Q11 2Q10 4Q08 11% Demand / NOW $ 1,620 $ 1,576 $ 1,561 $ 1,457 Time >$100k MMDA / Savings 1,174 1,149 930 630 15% Core Transaction 2,794 2,725 2,491 2,087 +69 +302 MMDA & Sav. 12% Growth 19

  26. Slide 26: New Loans Funded – Category & Market

    New Loans Funded – Category & Market (quarter) 26 (in millions) CATEGORY 2Q11 1Q11 MARKET 2Q11 1Q11 Commercial RE: N. Georgia $ 32.2 $ 23.2 Owner Occupied $ 35.6 $ 15.1 Atlanta 32.3 14.6 Income Producing 29.7 2.5 North Carolina 6.3 5.5 Total Commercial RE 65.3 17.6 Coastal Georgia 26.3 4.3 Commercia

  27. Slide 27: Core Deposit Growth – Category & Market

    Core Deposit Growth – Category & Market (quarter) 27 (in millions, excluding public) CATEGORY 2Q11 1Q11 MARKET 2Q11 1Q11 Demand $ 41.1 $ 65.8 Atlanta $ (4.2) $ 41.5 NOW 3.6 (62.9) Gainesville 8.2 1.9 MM Accounts 20.4 76.4 N. Georgia 34.0 26.4 Savings 4.2 9.6 Coastal Georgia 6.2 13.2 North Carolina 1

  28. Slide 28: Fee Revenue - Core

    Fee Revenue ‐ Core 28 (In Thousands) Variance - Fav (Unfav) 2Q11 1Q11 2Q10 NSF & Overdraft Fees $ 3,658 $ 148 $ (993) ATM Fees 3,279 749 684 Other Service Charges 671 (9) (76) Total Service Charges / Fees 7,608 888 (385) Mortgage Loan & Related Fees 952 (542) (649) Brokerage Fees 691 14 105 Hedge In

  29. Slide 29: Operating Expenses - Core

    Operating Expenses ‐ Core 29 (In Thousands) Variance - Fav (Unfav) 2Q11 1Q11 2Q10 Salaries & Employee Benefits $ 25,286 $ (362) (1,696) Salaries - Severance 1,150 (1,150) (1,150) Communications & Equipment 3,378 (34) 133 Occupancy 3,805 269 31 FDIC Assessment 3,644 1,769 (78) Advertising & Public Re

  30. Slide 30: Net Operating Loss – From Continuing Operations

    Net Operating Loss – From 30 Continuing Operations (In Thousands) 2Q11 1Q11 2Q10 Pre-Tax, Pre-Credit (Core) $ 26,022 $ 23,417 $ 29,438 Provision for Loan Loss (11,000) - (61,500) Asset Dispositions: Provision for Loan Loss - Bulk Sale - (190,000) - Loss on Sale of NPAs - - (45,349) OREO Write-downs

  31. Slide 31: Net Income (Loss)

    Net Income (Loss) 31 (In Thousands) 2Q11 1Q11 2Q10 Net Income (Loss) $ 7,617 $ (142,486) $ (59,532) Preferred Stock Dividends (3,016) (2,778) (2,577) Net Income (Loss) Avail to Common Shareholders $ 4,601 $ (145,264) $ (62,109) Net Income (Loss) Per Share $ .08 $ (7.87) $ (3.29) Book Value 11.59 14.

  32. Slide 32: Capital Ratios

    Capital Ratios 32 Well- Capitalized Guideline JUN '11 MAR '11 DEC '10 Bank Tier 1 RBC 6% > 9% 13.6% 13.0% 10.8% Total RBC 10% > 11% 15.4 14.7 12.6 Tier I Leverage 5% > 8% 8.5 8.3 7.5 Holding Company Tier I RBC 13.9 7.7 9.7 Total RBC 16.4 15.3 12.1 Tier I Leverage 8.7 5 6.8 Tangible Equity to Assets

  33. Slide 33: Appendix

    United Community Banks.

  34. Slide 34: United at a Glance

    United at a Glance 34 Assets $7.4 Billion Banks 27 Deposits $6.2 Billion Offices 106

  35. Slide 35: Experienced Proven Leadership

    Experienced Proven Leadership 35 Joined Years in UCBI Banking Jimmy Tallent President & CEO 1984 37 Guy Freeman Chief Operating Officer 1992 53 Rex Schuette Chief Financial Officer 2001 34 David Shearrow Chief Risk Officer 2007 30 Glenn White President, Atlanta Region 2007 37 Craig Metz Marketing 20

  36. Slide 36: Business and Operating Model

    Business and Operating Model 36 “Community bank service, large bank resources” Twenty-seven “community banks” ƒ Local CEOs with deep roots in their communities ƒ Resources of $7.4 billion bank Service is point of differentiation ƒ #1 in Customer Satisfaction according to Customer Service Profiles ƒ

  37. Slide 37: Robust Demographics (fast growing markets)

    Robust Demographics (fast growing markets) 37 Population Growth (%) Population Actual Projected Markets1 (in thousands) 2000 - 2010 2010 - 2015 North Georgia 394 23 % 7% Atlanta MSA 5,611 32 10 Gainesville MSA 191 37 13 Coastal Georgia 373 11 5 Western North Carolina 429 12 4 East Tennessee 860 14 6

  38. Slide 38: Market Share Opportunities

    Market Share Opportunities 38 (excellent growth prospects) Market Deposits United Deposit Markets (in billions) (1) Deposits (2) Banks Offices Share (1) Rank(1) North Georgia $ 7.7 $ 2.2 11 23 31 % 1 Atlanta MSA 50.0 2.0 10 38 4 7 Gainesville MSA 2.5 .3 1 6 13 3 Coastal Georgia 7.3 .4 2 9 5 8 Wester

  39. Slide 39: Leading Demographics

    Leading Demographics 39 Total 2010 - 2015 Assets Population Rank Ticker Company(1) State ($ B) Growth (2) 1 CFR Cullen/Frost Bankers, Inc. TX $17.9 9.07 % 2 WAL Western Alliance Bancorporation AZ 6.4 7.86 3 FCNCA First Citizens Bancshares, Inc. NC 21.2 7.33 4 PRSP Prosperity Bancshares, Inc. TX 9.7

  40. Slide 40: Loans / Deposits – Liquidity

    Loans / Deposits – Liquidity 40 (in millions) Variance 2Q11 1Q11 2Q10 vs 1Q11 vs 2Q10 Loans $ 4,163 $ 4,194 $ 4,873 $ (31) $ (710) Core (DDA, MMDA, Savings) $ 2,794 $ 2,725 $ 2,492 $ 69 $ 302 Public Funds 649 672 630 (23) 19 CD's 2,439 2,516 2,596 (77) (157) Total Deposits (excl Brokered) $ 5,882 $

  41. Slide 41: Wholesale Borrowings – Liquidity

    Wholesale Borrowings ‐ Liquidity 41 (in millions) Unused Variance Capacity 2Q11 1Q11 2Q10 vs 1Q11 vs 2Q10 Wholesale Borrowings Brokered Deposits $ 1,551 $ 301 $ 684 $ 612 $ (383) $ (311) FHLB 1,387 41 55 104 (14) (63) Fed Funds 50 - - - - - Other Wholesale 142 104 102 104 2 - Total $ 3,130 $ 446 $ 8

  42. Slide 42: Business Mix – Deposits

    Business Mix – Deposits (at quarter‐end) 42 (in millions) 1Q11 vs. DEPOSITS BY CATEGORY 2Q11 1Q11 4Q10 3Q10 2Q10 1Q10 Demand & Now $ 1,620 $ 1,576 $ 1,573 $ 1,582 $ 1,561 $ 59 MMDA & Savings 1,174 1,149 1,063 977 930 244 Core Transaction Deposits 2,794 2,725 2,636 2,559 2,491 303 Time < $100,000 1,5

  43. Slide 43: Core Transaction Deposits

    Core Transaction Deposits 43 Geographic Diversity 2Q 10 2Q 11 Core Transactions / Total Deposits (%) $ in millions 2Q11 2Q10 Eastern Tennessee $124 Atlanta MSA 50.4 % 48.0 % $160 North Georgia 42.8 38.8 Coastal Georgia $144 Western NC 50.3 45.2 $171 Gainesville MSA 53.1 48.8 Gainesville MSA $167 Coa

  44. Slide 44: Performing Classified Loans

    Performing Classified Loans 44 (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 LOANS BY CATEGORY Commercial (Sec. by RE) $ 118 $ 120 $ 157 $ 157 $ 141 Commercial Construction 31 35 90 103 78 Commercial & Industrial 17 16 17 22 22 TOTAL COMMERCIAL 166 171 264 282 241 Consumer / Installment 3 2 3 4 4 Residenti

  45. Slide 45: Business Mix Loans (at quarter-end)

    Business Mix Loans (at quarter‐end) 45 2Q11 vs. (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 2Q10 LOANS BY CATEGORY Commercial (Sec. by RE) $ 1,742 $ 1,692 $ 1,761 $ 1,781 $ 1,780 $ (38) Commercial Construction 195 213 297 310 342 (147) Commercial & Industrial 428 431 441 456 441 (13) Total Commercial 2,3

  46. Slide 46: Loans – Markets Served (at quarter-end)

    Loans – Markets Served (at quarter‐end) 46 2Q11 vs. (in millions) 2Q11 1Q11 4Q10 3Q10 2Q10 2Q10 LOANS BY MARKET Atlanta MSA $ 1,188 $ 1,179 $ 1,310 $ 1,365 $ 1,373 $ (185) Gainesville MSA 275 282 312 316 343 (68) North Georgia 1,500 1,531 1,689 1,755 1,808 (308) Western North Carolina 626 640 702 71

  47. Slide 47: Business Mix Loans (at year-end)

    Business Mix Loans (at year‐end) 47 (in millions) 2010 2009 2008 2007 2006 LOANS BY CATEGORY Commercial (Sec. by RE) $ 1,761 $ 1,779 $ 1,627 $ 1,476 $ 1,230 Commercial Construction 297 363 500 527 469 Commercial & Industrial 441 390 410 418 296 Total Commercial 2,499 2,532 2,537 2,421 1,995 Resident

  48. Slide 48: Loans – Markets Served (at year-end)

    Loans – Markets Served (at year‐end) 48 (in millions) 2010 2009 2008 2007 2006 LOANS BY MARKET Atlanta MSA $ 1,310 $ 1,435 $ 1,706 $ 2,002 $ 1,651 Gainesville MSA 312 390 420 399 354 North Georgia 1,689 1,884 2,040 2,060 2,034 Western North Carolina 702 772 810 806 773 Coastal Georgia 335 405 464 41

  49. Slide 49: Lending – Credit Summary

    Lending – Credit Summary 49 (in millions) Legal lending limit $222 House lending limit 20 9Project lending limit 12 Top 25 relationships 410 910.0% of total loans Regional credit review – Standard underwriting

  50. Slide 50: NPAs by Loan Category, Market, and Activity

    NPAs by Loan Category, Market, and Activity 50 Credit Quality (1) Second Quarter 2011 First Quarter 2011 (2) Fourth Quarter 2010 Non-performing Foreclosed Total Non-performing Foreclosed Total Non-performing Foreclosed Total (in thousands) Loans Properties NPAs Loans Properties NPAs Loans Properties

  51. Slide 51: Net Charge-offs by Category and Market

    Net Charge‐offs by Category and Market 51 Credit Quality S econd Quarter 2011 (1) First Quarter 2011 (1) Fourth Quarter 2010 (2) Net Charge- Net Charge- Net Charge- Offs to Offs to Offs to Net Average Net Average Net Average (in thousands) Charge-Offs Loans (3) Charge-Offs Loans (3) Charge-Offs Loan

  52. Slide 52: Net Charge-offs by Category and Market – Asset Disposition Plan

    Net Charge‐offs by Category and Market 52 Asset Disposition Plan as of March 31, 2011 Credit Quality - Net Charge-Offs First Quarter 2011 (1) Asset Disposition Plan Bulk Loan Sale (2) First Quarter Performing Nonperforming Other Bulk Loan Foreclosure Other Net 2011 Net Charge- (in thousands) Loans L

  53. Slide 53: Credit Quality – Bulk Loan Sale Summary

    Credit Quality – Bulk Loan Sale Summary 53 as of March 31, 2011 Credit Quality - Bulk Loan Sale Summary (1) Performing Loans Nonperforming Loans Total Loans Carrying Charge- Loans Held Carrying Charge- Loans Held Carrying Charge- Loans Held (in thousands) Amount (2) Offs (3) for Sale (4) Amount (2)

  54. Slide 54: NPA Sale in 2Q10

    NPA Sale in 2Q10 54 Sold $103 Million NPA’s – With a $65 Million Capital Option and Warrant ƒ Completed sale on April 30, 2010 ƒ Accelerates disposition of the more illiquid assets CATEGORY (in millions) MARKETS (in millions) Commercial $ 29.4 Atlanta $ 10.7 Commercial Construction 11.3 Gainesville

  55. Slide 55: NPA Sale – Fair Value Accounting 2Q10

    NPA Sale – Fair Value Accounting 2Q10 55 Fair Value Accounting – Warrant / Option to Purchase Equity ƒ Increase to Capital Surplus ‐ $39.8 million ƒ Pre‐tax expense charge ‐ $45.3 million; after‐tax cost ‐ $30.0 million ƒ GAAP Capital +$9.8million – Slight Negative to “Regulatory Capital” (DTA) (in

  56. Slide 56: Non-GAAP Reconciliation Tables

    Non‐GAAP Reconciliation Tables 56 (in thousands except EPS) Operating Earnings to GAAP Earnings Reconciliation 2Q11 1Q11 2Q10 Core net interest revenue reconciliation (1) Core net interest revenue $ 58,946 $ 58,406 $ 61,627 Interest reversals on performing loans transferred to held for sale - (2,014

  57. Slide 57: Non-GAAP Reconciliation Tables

    Non‐GAAP Reconciliation Tables 57 Operating Earnings to GAAP Earnings Reconciliation 2Q11 1Q11 2Q10 Net interest margin - pre credit reconciliation Net interest margin - pre credit 3.71 % 3.87 % 4.24 % Effect of interest reversals, lost interest, and carry costs of NPAs (.30) (.46) (.64) Core net in

  58. Slide 58: Analyst Coverage

    Analyst Coverage 58 FBR Capital Raymond James & Assoc. (Market Perform ‐ Mar 17, 2011) (Market Perform ‐ May 3, 2011) FIG Partners Sandler O'Neill & Partners (Market Perform ‐ Mar 18, 2011) (Buy ‐ Jun 20, 2011) Guggenheim Securities, LLC Stephens, Inc. (Neutral ‐ May 5, 2011) (Equal Weight ‐ Apr 29,

  59. Slide 59: United Community Banks, Inc.

    59 United Community Banks, Inc. Investor Presentation Second Quarter 2011 Copyright 2011 United Community Banks, Inc. All rights reserved.

United Community Banks — Q2 2011 Earnings Presentation on 6ix