United Community Banks, Inc. Announces Senior Note Offering of $15 Million to $35 Million

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BLAIRSVILLE, GA--(Marketwired - Aug 2, 2013) - United Community Banks, Inc. (NASDAQ: UCBI) ("United"), the holding company of United Community Bank, today announced it plans to offer $15 million to $35 million of senior notes via an auction pursuant to a pricing supplement and prospectus supplement to its prospectus dated April 25, 2012.

The auction is expected to open on Monday, August 5, 2013 at 9:00AM Eastern Time and close on Wednesday, August 7, 2013 at 12:00PM Eastern Time; however, the auction could end earlier if bids for the maximum auction amount are received at the minimum coupon rate.

During the auction period, bids can be submitted for the coupon rate for the notes at or above a minimum of 5.50% (in increments of 0.05%) and up to and including the maximum coupon rate of 6.15%. The coupon rate, allocation and size of the offering will be determined by an online auction process facilitated by Zions Direct, Inc., as auction service provider. Macquarie Capital is acting as Program Arranger and Joint Book-Running Manager and Goldman Sachs is acting as Joint Book-Running Manager for the offering.

United intends to use the net cash proceeds from this offering for general corporate purposes, which may include the repurchase or replacement of certain of United's debt instruments.

The offering is subject to market conditions, and there can be no assurance as to whether the offering will be completed, or as to the actual size or terms of the offering.

A shelf registration statement relating to the public offering of the senior notes was filed previously by United with the Securities and Exchange Commission ("SEC") and is effective. A preliminary pricing supplement related to the offering has been filed with the SEC and is available on the SEC's website located at www.sec.gov. The offering may be made only by means of a prospectus and a related prospectus supplement and pricing supplement, copies of which may be obtained, when available, from Macquarie Capital (USA) Inc., 125 West 55th Street, New York, NY 10019, Attention: Prospectus Department, by email: us.prospectus@macquarie.com  or by telephone: 1-888-268-3937; or Goldman, Sachs & Co., 200 West Street, New York, NY 10282, by email: prospectus-ny@ny.email.gs.com or by telephone: 1-866-471-2526.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of United, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About United Community Banks, Inc.

Headquartered in Blairsville, United Community Banks, Inc. is the third-largest bank holding company in Georgia. United has assets of $7.2 billion and operates 103 banking offices throughout north Georgia, the Atlanta region, coastal Georgia, western North Carolina, east Tennessee and western South Carolina. United specializes in providing personalized community banking services to individuals and small to mid-size businesses and also offers the convenience of 24-hour access through a network of ATMs, telephone and on-line banking. United's common stock is listed on the Nasdaq Global Select Market under the symbol UCBI. Additional information may be found at United's website 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 SEC including its 2012 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2013 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.

Contact:
For more information:
Rex S. Schuette
Chief Financial Officer
(706) 781-2266
Email Contact

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