United Community Banks, Inc.

United Community has named Tom Speir as its new executive vice president and chief financial officer. Speir brings more than two decades of financial experience, including balance sheet management, M&A, strategic planning, and investor relations. He will join the Greenville, South Carolina-based bank on September 8, succeeding Jefferson Harralson, who announced his retirement earlier this year. Chief Executive Officer Lynn Harton said Speir's proven experience and relationships in the investment community will help the company continue to grow.

United Community Banks, Inc. completed its merger with Peach State Bancshares, Inc., effective August 1, 2026. Peach State merged into United, and its wholly-owned subsidiary Peach State Bank & Trust was subsequently merged into United Community Bank. Peach State Bank, headquartered in Gainesville, Georgia, reported total assets of $784 million, total loans of $524 million, and total deposits of $707 million as of June 30, 2026. The bank will operate under the United Community brand after systems conversion expected in the first quarter of 2027. United Community Banks, Inc. had $29.1 billion in assets as of the same date.

United Community Banks reported second-quarter operating earnings of $0.71 per share, an 8% increase from the prior year, with total revenue rising 7% to $279.3 million. Net interest margin expanded for the sixth consecutive quarter to 3.68%, up 18 basis points year-over-year, while organic loan growth excluding the Navitas portfolio reached 6.4% annualized. The company announced a $38.5 million pre-tax reserve release from reclassifying Navitas loans to held-for-sale, adding $0.25 to GAAP earnings, and noted that with Navitas sold, it will be roughly a 14.5% CET1 ratio. Management highlighted a 17% expansion in revenue producers since September 2025 and expects the pending Peach State acquisition to close early in the third quarter, with projected fourth-quarter expenses around $150 million after removing Navitas's $9 million quarterly run rate.

United Community Banks reported a second-quarter profit of $114.88 million, or 95 cents per share, up from $76.72 million, or 63 cents per share, a year earlier. Revenue increased 7.3 percent to $279.28 million from $260.23 million. On a non-GAAP basis, net operating income was $86.43 million, or 71 cents per share, compared with $82.52 million, or 66 cents per share, in the prior-year period.