| Comprehensive Income |
16. COMPREHENSIVE INCOME The components of total comprehensive income for the three and nine months ended September 30, 2026 and 2025 are as follows:
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Three Months Ended
September 30 |
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Nine Months Ended
September 30 |
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2026 |
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2025 |
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2026 |
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2025 |
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| Net Income |
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$ |
128,704 |
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$ |
130,748 |
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$ |
384,281 |
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$ |
335,775 |
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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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(109,778 |
) |
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|
36,056 |
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(126,070 |
) |
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|
98,773 |
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| Related income tax effect |
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26,237 |
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|
(8,618 |
) |
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30,131 |
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(23,607 |
) |
| Net reclassification adjustment for losses included in net income |
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0 |
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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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0 |
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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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(83,541 |
) |
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27,438 |
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(88,536 |
) |
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75,166 |
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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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7,104 |
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|
414 |
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11,869 |
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(4,594 |
) |
| Related income tax effect |
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(1,698 |
) |
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|
(99 |
) |
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(2,837 |
) |
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|
1,098 |
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| Net reclassification adjustment for gains included in net income |
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(2,018 |
) |
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(2,470 |
) |
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(6,053 |
) |
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(7,387 |
) |
| Related income tax effect |
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|
483 |
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|
590 |
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|
1,447 |
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|
1,765 |
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| Net effect of cash flow hedge derivatives on other comprehensive income |
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3,871 |
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(1,565 |
) |
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4,426 |
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(9,118 |
) |
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| Defined benefit pension plan: |
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| Amortization of net actuarial loss recognized in net income |
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0 |
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52 |
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0 |
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52 |
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| Related income tax benefit |
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0 |
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(12 |
) |
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0 |
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(12 |
) |
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| Net effect of change in defined benefit pension plan asset on other comprehensive income |
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0 |
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40 |
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0 |
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40 |
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| Total change in other comprehensive income, net of tax |
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(79,670 |
) |
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25,913 |
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(84,110 |
) |
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66,088 |
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| Total Comprehensive Income |
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$ |
49,034 |
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$ |
156,661 |
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$ |
300,171 |
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$ |
401,863 |
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| The components of accumulated other comprehensive income for the nine months ended September 30, 2026 are as follows:
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| Changes in Accumulated Other Comprehensive Income (AOCI) by Component (a) |
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| For the Nine Months Ended September 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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Defined
Benefit
Pension
Items |
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Total |
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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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(95,939 |
) |
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9,032 |
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0 |
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(86,907 |
) |
| Amounts reclassified from accumulated other comprehensive income |
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7,403 |
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(4,606 |
) |
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0 |
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2,797 |
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| Net current-period other comprehensive (loss) income, net of tax |
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(88,536 |
) |
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4,426 |
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0 |
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(84,110 |
) |
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| Balance at September 30, 2026 |
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$ |
(247,034 |
) |
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$ |
28,195 |
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$ |
(4,198 |
) |
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$ |
(223,037 |
) |
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| (a) |
All amounts are net-of-tax. 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 Nine Months Ended September 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 |
| 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 |
| Cash flow hedge: |
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| Net reclassification adjustment for gains included in net income |
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(6,053 |
) |
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Interest expense |
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(6,053 |
) |
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Total before tax |
| Related income tax effect |
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|
1,447 |
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Tax expense |
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(4,606 |
) |
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Net of tax |
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| Total reclassifications for the period |
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$ |
2,797 |
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