Derivative Financial Instruments (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Notional Amount and Fair Value of Derivative Financial Instruments |
The following tables disclose the derivative instruments’ location on the Company’s Consolidated Balance Sheets and the notional amount and fair value of those instruments at September 30, 2026 and December 31, 2025.
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Asset Derivatives |
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September 30, 2026 |
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December 31, 2025 |
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Balance Sheet Location |
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Notional
Amount |
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Fair
Value |
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Balance Sheet Location |
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Notional
Amount |
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Fair
Value |
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| Derivatives designated as hedging instruments |
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| Fair Value Hedges: |
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| Interest rate swap contracts (hedging commercial loans) |
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Other assets |
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$ |
8,459 |
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$ |
543 |
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Other assets |
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$ |
9,466 |
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$ |
316 |
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| Total Fair Value Hedges |
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$ |
8,459 |
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$ |
543 |
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$ |
9,466 |
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$ |
316 |
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| Cash Flow Hedges: |
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| Interest rate swap contracts (hedging FHLB borrowings) |
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Other assets |
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$ |
250,000 |
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$ |
0 |
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Other assets |
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$ |
250,000 |
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$ |
0 |
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| Total Cash Flow Hedges |
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$ |
250,000 |
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$ |
0 |
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$ |
250,000 |
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$ |
0 |
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| Total derivatives designated as hedging instruments |
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$ |
258,459 |
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$ |
543 |
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$ |
259,466 |
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$ |
316 |
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| Derivatives not designated as hedging instruments |
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| Forward loan sales commitments |
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Other assets |
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$ |
2,341 |
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$ |
13 |
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Other assets |
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$ |
3,981 |
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$ |
15 |
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| TBA mortgage-backed securities |
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Other assets |
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30,363 |
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588 |
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Other assets |
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0 |
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0 |
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| Interest rate lock commitments |
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Other assets |
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20,800 |
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30 |
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Other assets |
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23,046 |
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458 |
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| Total derivatives not designated as hedging instruments |
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$ |
53,504 |
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$ |
631 |
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$ |
27,027 |
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$ |
473 |
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| Total asset derivatives |
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$ |
311,963 |
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$ |
1,174 |
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$ |
286,493 |
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$ |
789 |
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Liability Derivatives |
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September 30, 2026 |
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December 31, 2025 |
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Balance Sheet Location |
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Balance Sheet Location |
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| Derivatives not designated as hedging instruments |
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| TBA mortgage-backed securities |
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Other liabilities |
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$ |
0 |
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$ |
0 |
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Other liabilities |
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$ |
33,882 |
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$ |
70 |
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| Total derivatives not designated as hedging instruments |
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$ |
0 |
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$ |
0 |
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$ |
33,882 |
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$ |
70 |
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| Total liability derivatives |
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$ |
0 |
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$ |
0 |
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$ |
33,882 |
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$ |
70 |
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| Summary of Carrying Amount Hedged Assets/(Liabilities) |
The following table represents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value accounting relationship as of September 30, 2026 and December 31, 2025.
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September 30, 2026 |
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| Derivatives in Fair Value Hedging Relationships |
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Location in the Statement of Condition |
|
Carrying Amount of
the Hedged
Assets/(Liabilities) |
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|
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities) |
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|
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining for
any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued |
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| Interest rate swaps |
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Loans, net of unearned income |
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$ |
8,459 |
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$ |
(550 |
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$ |
0 |
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December 31, 2025 |
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| Derivatives in Fair Value Hedging Relationships |
|
Location in the Statement of Condition |
|
Carrying Amount of
the Hedged
Assets/(Liabilities) |
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|
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities) |
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|
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining for
any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued |
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| Interest rate swaps |
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Loans, net of unearned income |
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$ |
9,466 |
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$ |
(331 |
) |
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$ |
0 |
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| Schedule of Derivative Financial Instruments on Statements of Income |
The effect of United’s derivative financial instruments on its unaudited Consolidated Statements of Income for the three and nine months ended September 30, 2026 and 2025 are presented as follows:
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Three Months Ended |
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Income Statement Location |
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September 30,
2026 |
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September 30,
2025 |
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| Derivatives in hedging relationships |
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| Cash flow Hedges: |
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| Interest rate swap contracts |
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Interest on long-term borrowings |
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$ |
2,018 |
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$ |
2,470 |
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| Fair Value Hedges: |
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| Interest rate swap contracts |
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Interest and fees on loans |
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4 |
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0 |
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| Total derivatives in hedging
relationships |
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$ |
2,022 |
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$ |
2,470 |
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| Derivatives not designated as hedging instruments |
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| Forward loan sales commitments |
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Income from Mortgage Banking Activities |
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$ |
14 |
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$ |
(43 |
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| TBA mortgage-backed securities |
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Income from Mortgage Banking Activities |
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665 |
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659 |
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| Interest rate lock commitments |
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Income from Mortgage Banking Activities |
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(403 |
) |
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(137 |
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| Total derivatives not designated as hedging instruments |
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$ |
276 |
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$ |
479 |
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| Total derivatives |
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$ |
2,298 |
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$ |
2,949 |
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| Derivatives in hedging relationships |
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| Cash flow Hedges: |
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| Interest rate swap contracts |
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Interest on long-term borrowings |
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$ |
6,053 |
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$ |
7,387 |
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| Fair Value Hedges: |
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| Interest rate swap contracts |
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Interest and fees on loans |
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7 |
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(3 |
) |
| Total derivatives in hedging relationships |
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$ |
6,060 |
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$ |
7,384 |
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| Derivatives not designated as hedging instruments |
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| Forward loan sales commitments |
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Income from Mortgage Banking Activities |
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$ |
(1 |
) |
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$ |
21 |
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| TBA mortgage-backed securities |
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Income from Mortgage Banking Activities |
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|
657 |
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(182 |
) |
| Interest rate lock commitments |
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Income from Mortgage Banking Activities |
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(82 |
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|
198 |
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| Total derivatives not designated as hedging instruments |
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$ |
574 |
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$ |
37 |
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| Total derivatives |
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$ |
6,634 |
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$ |
7,421 |
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