United Community Banks reported fourth quarter 2025 revenue up 11% year-over-year, driven primarily by net interest margin expansion and 4.4% annualized loan growth. Operating earnings per share rose 13% to $0.71, while return on assets reached 1.22% and return on tangible common equity climbed to 13.3%. For the full year, operating earnings per share increased 18% to $2.71, annual revenue topped $1 billion for the first time (a 12% increase), net interest margin expanded by 23 basis points, and the efficiency ratio improved by 264 basis points compared with 2024.

Loan balances grew at a 4.4% annualized pace in the quarter, led by commercial and industrial (C&I) and home equity line of credit (HELOC) portfolios. C&I loan volume increased 12% year-over-year, while owner-occupied commercial real estate held steady. Equipment finance originations through Novitas exceeded $1 billion for the first time, representing 9.5% of total loans. SBA commitment activity set a new quarterly record despite federal funding uncertainties, and Florida markets—bolstered by two recent acquisitions—accounted for the largest share of new production.

Net interest margin rose four basis points to 3.62% for the quarter, or six basis points excluding loan accretion, supported by lower funding costs and a higher loan-to-deposit ratio of 82%. Public funds deposits increased by $293 million, while overall deposit balances were down slightly due to seasonality and selective rate reductions for high-cost accounts. The cost of deposits improved by 21 basis points to 1.76%, and CD retention remained strong at approximately 90%. The bank held $1.4 billion of maturing assets at average yields near 4.90% and maintained very limited wholesale borrowings, with a common equity tier 1 ratio of 13.4% and tangible common equity at 9.92%.

Operating expenses totaled $151.4 million, up $4 million sequentially, reflecting higher group health costs and incentive accruals tied to record loan production; management expects first-quarter expenses to be broadly flat, targeting 3–3.5% growth for 2026. Non-interest income was $40.5 million, with wealth and treasury management up while mortgage revenue declined seasonally. Net charge-offs were 34 basis points due to two loan write-offs—a $6 million franchise loan and a $4 million SBA loan—prompting procedural refinements in SBA underwriting. The bank increased its annual dividend to $1 per share, repurchased 1 million shares at sub-$30 levels, and intends to accelerate buybacks this year given a light M&A landscape and strong capital build.