| Comprehensive Income |
16. COMPREHENSIVE INCOME The components of total comprehensive income for the three and six months ended June 30, 2026 and 2025 are as follows:
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| Net Income |
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| Available for sale (“AFS”) securities: |
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| Change in net unrealized (loss) gain on AFS securities arising during the period |
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(3,083 |
) |
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19,134 |
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(16,292 |
) |
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62,717 |
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| Related income tax effect |
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737 |
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(4,573 |
) |
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3,894 |
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(14,989 |
) |
| Net reclassification adjustment for losses included in net income |
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9,728 |
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0 |
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9,728 |
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0 |
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| Related income tax effect |
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(2,325 |
) |
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0 |
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(2,325 |
) |
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0 |
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| Net effect of AFS securities on other comprehensive income |
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| Cash flow hedge derivatives: |
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| Unrealized gain (loss) on cash flow hedge before reclassification to interest expense |
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2,925 |
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(1,846 |
) |
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4,765 |
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(5,008 |
) |
| Related income tax effect |
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(699 |
) |
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441 |
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(1,139 |
) |
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1,197 |
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| Net reclassification adjustment for gains included in net income |
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(2,016 |
) |
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(2,465 |
) |
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(4,035 |
) |
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(4,917 |
) |
| Related income tax effect |
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481 |
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589 |
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964 |
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1,175 |
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| Net effect of cash flow hedge derivatives on other comprehensive income |
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| Total change in other comprehensive income (loss), net of tax |
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| Total Comprehensive Income |
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| The components of accumulated other comprehensive income for the six months ended June 30, 2026 are as follows:
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Changes in Accumulated Other Comprehensive Income (AOCI) by Component (a) For the Six Months Ended June 30, 2026 |
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Unrealized
Gains/Losses
on AFS
Securities |
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Unrealized
Gains/Losses
on Cash Flow
Hedges |
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| Balance at January 1, 2026 |
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$ |
(158,498 |
) |
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$ |
23,769 |
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$ |
(4,198 |
) |
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$ |
(138,927 |
) |
| Other comprehensive (loss) income before reclassification |
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(12,398 |
) |
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3,626 |
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0 |
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(8,772 |
) |
| Amounts reclassified from accumulated other comprehensive income |
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7,403 |
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(3,071 |
) |
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0 |
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4,332 |
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| Net current-period other comprehensive (loss) income, net of tax |
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(4,995 |
) |
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555 |
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0 |
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(4,440 |
) |
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| Balance at June 30, 2026 |
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$ |
(163,493 |
) |
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$ |
24,324 |
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$ |
(4,198 |
) |
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$ |
(143,367 |
) |
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| (a) |
All amounts are United has adopted the portfolio approach for purposes of releasing residual tax effects within AOCI. |
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| Reclassifications out of Accumulated Other Comprehensive Income (AOCI)
For the Six Months Ended June 30, 2026 |
| Details about AOCI Components |
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Amount
Reclassified
from AOCI |
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Affected Line Item in the Statement Where Net Income is Presented |
| Available for sale (“AFS”) securities: |
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| Net reclassification adjustment for losses included in net income |
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$ |
9,728 |
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Net investment securities (losses) gains |
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9,728 |
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Total before tax |
| Related income tax effect |
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(2,325 |
) |
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Tax expense |
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7,403 |
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Net of tax |
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| Reclassifications out of Accumulated Other Comprehensive Income (AOCI)
For the Six Months Ended June 30, 2026 |
| Details about AOCI Components |
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Amount
Reclassified
from AOCI |
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Affected Line Item in the Statement Where Net Income is Presented |
| Cash flow hedge: |
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| Net reclassification adjustment for gains included in net income |
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(4,035 |
) |
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Interest expense |
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(4,035 |
) |
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Total before tax |
| Related income tax effect |
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|
964 |
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Tax expense |
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(3,071 |
) |
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Net of tax |
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| Total reclassifications for the period |
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$ |
4,332 |
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