UCB · United Community Banks, Inc.

United Community Banks, Inc. has entered into a definitive merger agreement with Peach State Bancshares, Inc., both Georgia corporations, marking a strategic consolidation in the regional banking sector. Under the terms, Peach State will merge directly into United, with United continuing as the surviving entity, followed immediately by the merger of Peach State's wholly-owned subsidiary, Peach State Bank & Trust (a Georgia state-chartered bank), into United's wholly-owned subsidiary, United Community Bank (a South Carolina state-chartered bank), with United Community Bank surviving. This structure facilitates a seamless integration of operations and customer bases. The announcement was accompanied by a joint press release (Exhibit 99.1) and an investor presentation (Exhibit 99.2) providing supplemental details on the transaction. While specific financial terms such as consideration, valuation, or expected closing timeline are not detailed in the filing body, the merger is conditioned on standard terms outlined in the Merger Agreement, underscoring its materiality for United shareholders through potential expansion of market presence, asset growth, and earnings accretion, pending regulatory approvals and other closing conditions.