| Components of Total 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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| |
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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 |
|
$ |
128,704 |
|
|
$ |
130,748 |
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|
$ |
384,281 |
|
|
$ |
335,775 |
|
| Available for sale (“AFS”) securities: |
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| Change in net unrealized (loss) gain on AFS securities arising during the period |
|
|
(109,778 |
) |
|
|
36,056 |
|
|
|
(126,070 |
) |
|
|
98,773 |
|
| Related income tax effect |
|
|
26,237 |
|
|
|
(8,618 |
) |
|
|
30,131 |
|
|
|
(23,607 |
) |
| Net reclassification adjustment for losses included in net income |
|
|
0 |
|
|
|
0 |
|
|
|
9,728 |
|
|
|
0 |
|
| Related income tax effect |
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|
0 |
|
|
|
0 |
|
|
|
(2,325 |
) |
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|
0 |
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|
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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 |
|
|
|
(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 |
|
|
|
11,869 |
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|
|
(4,594 |
) |
| Related income tax effect |
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|
(1,698 |
) |
|
|
(99 |
) |
|
|
(2,837 |
) |
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|
1,098 |
|
| Net reclassification adjustment for gains included in net income |
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|
(2,018 |
) |
|
|
(2,470 |
) |
|
|
(6,053 |
) |
|
|
(7,387 |
) |
| Related income tax effect |
|
|
483 |
|
|
|
590 |
|
|
|
1,447 |
|
|
|
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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| Components of Accumulated Other Comprehensive Income |
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 |
|
$ |
(158,498 |
) |
|
$ |
23,769 |
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|
$ |
(4,198 |
) |
|
$ |
(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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|
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|
|
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|
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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 |
) |
|
$ |
(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 |
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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 |
|
|
(2,325 |
) |
|
Tax expense |
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|
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|
|
|
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|
7,403 |
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|
Net of tax |
| Cash flow hedge: |
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|
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| Net reclassification adjustment for gains included in net income |
|
|
(6,053 |
) |
|
Interest expense |
|
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|
|
|
|
|
|
|
|
(6,053 |
) |
|
Total before tax |
| Related income tax effect |
|
|
1,447 |
|
|
Tax expense |
|
|
|
|
|
|
|
|
|
|
(4,606 |
) |
|
Net of tax |
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| Total reclassifications for the period |
|
$ |
2,797 |
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