0000857855-24-000099 | 10-Q | XBRL Viewer | United Community Banks INC

Loans and Leases and Allowance for Credit Losses

9 Months Ended

Sep. 30, 2024

Loans and Leases and Allowance for Credit Losses

Major classifications of the loan and lease portfolio (collectively referred to as the “loan portfolio” or “loans”) are summarized as of the dates indicated as follows.


(in thousands)	September 30, 2024		December 31, 2023
Owner occupied CRE	$	3,323,398	$	3,264,051
Income producing CRE	4,258,586		4,263,952
Commercial & industrial	2,312,657		2,411,045
Commercial construction	1,784,959		1,859,538
Equipment financing	1,603,472		1,541,120
Total commercial	13,283,072		13,339,706
Residential mortgage	3,263,509		3,198,928
Home equity	1,014,544		958,987
Residential construction	188,820		301,650
Manufactured housing	2,178		336,474
Consumer	187,799		181,117


Total loans excluding fair value hedge basis adjustment	17,939,922		18,316,862

Fair value hedge basis adjustment	24,177		1,893
Total loans	17,964,099		18,318,755
Less ACL - loans	(205,290)		(208,071)

Loans, net	$	17,758,809	$	18,110,684

Accrued interest receivable related to loans totaled $59.5 million and $67.0 million on September 30, 2024 and December 31, 2023, respectively, and was reported in other assets on the consolidated balance sheets. Accrued interest receivable was excluded from the estimate of credit losses.

At September 30, 2024 and December 31, 2023, the loan portfolio included certain loans specifically pledged to the Federal Reserve as well as loans covered by a blanket lien on qualifying loan types with the FHLB to secure contingent funding sources.

The following table presents the amortized cost of certain loans held for investment that were sold in the periods indicated. The net gain or loss on these loan sales were included in noninterest income on the consolidated statements of income. During the third quarter of 2024, United sold substantially all of its portfolio of manufactured housing loans and recognized a loss of $27.2 million.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Manufactured housing loans	$	302,870	$	—	$	302,870	$	—
Guaranteed portion of SBA/USDA loans	11,385		26,381		39,084		70,223
Equipment financing receivables	21,122		37,671		57,836		76,945
Total	$	335,377	$	64,052	$	399,790	$	147,168

At September 30, 2024 and December 31, 2023, equipment financing receivables included leases of $84.2 million and $68.9 million, respectively. The components of the net investment in leases, which included both sales-type and direct financing, are presented below.


(in thousands)	September 30, 2024		December 31, 2023
Minimum future lease payments receivable	$	92,445	$	75,198
Estimated residual value of leased equipment	5,143		4,445
Initial direct costs	1,749		1,402
Security deposits	(482)		(413)

Unearned income	(14,621)		(11,711)
Net investment in leases	$	84,234	$	68,921

Minimum future lease payments expected to be received from equipment financing lease contracts as of September 30, 2024 were as follows:


(in thousands)
Year
Remainder of 2024	$	7,964
2025	30,164
2026	24,080
2027	17,836
2028	9,897
Thereafter	2,504
Total	$	92,445

Nonaccrual and Past Due Loans

The following table presents the aging of the amortized cost basis in loans by aging category and accrual status as of the dates indicated. Past due status is based on contractual terms of the loan. The accrual of interest is generally discontinued when a loan becomes 90 days past due.


	Accruing
	Current Loans		Loans Past Due
(in thousands)			30 - 59 Days		60 - 89 Days		> 90 Days		Nonaccrual Loans		Total Loans
As of September 30, 2024
Owner occupied CRE	$	3,310,503	$	5,112	$	—	$	—	$	7,783	$	3,323,398
Income producing CRE	4,223,657		3,241		466		—		31,222		4,258,586
Commercial & industrial	2,280,604		2,549		648		—		28,856		2,312,657
Commercial construction	1,776,776		721		106		—		7,356		1,784,959
Equipment financing	1,588,356		2,675		3,318		—		9,123		1,603,472
Total commercial	13,179,896		14,298		4,538		—		84,340		13,283,072
Residential mortgage	3,232,404		7,767		1,487		—		21,851		3,263,509
Home equity	1,007,023		2,177		1,233		—		4,111		1,014,544
Residential construction	187,751		170		781		—		118		188,820
Manufactured housing	289		—		81		—		1,808		2,178
Consumer	186,918		575		154		—		152		187,799
Total loans	$	17,794,281	$	24,987	$	8,274	$	—	$	112,380	$	17,939,922

As of December 31, 2023
Owner occupied CRE	$	3,258,015	$	2,942	$	—	$	—	$	3,094	$	3,264,051
Income producing CRE	4,230,140		3,684		—		—		30,128		4,263,952
Commercial & industrial	2,388,076		8,129		1,373		—		13,467		2,411,045
Commercial construction	1,857,660		—		—		—		1,878		1,859,538
Equipment financing	1,522,962		5,895		3,758		—		8,505		1,541,120
Total commercial	13,256,853		20,650		5,131		—		57,072		13,339,706
Residential mortgage	3,179,329		4,622		1,033		—		13,944		3,198,928
Home equity	950,841		4,106		268		—		3,772		958,987
Residential construction	299,230		1,255		221		—		944		301,650
Manufactured housing	304,794		12,622		3,197		—		15,861		336,474
Consumer	180,245		686		92		—		94		181,117
Total loans	$	18,171,292	$	43,941	$	9,942	$	—	$	91,687	$	18,316,862

At September 30, 2024 and December 31, 2023, United had $75.4 million and $48.5 million, respectively, in loans for which repayment is expected to be provided substantially through the operation or sale of the collateral. Estimated credit losses for these loans are based on the net realizable value of the collateral relative to the amortized cost of the loan. The majority of these loans are income producing CRE and commercial and industrial loans.

The following table presents nonaccrual loans held for investment by loan class for the periods indicated.


	Nonaccrual Loans
	September 30, 2024						December 31, 2023
(in thousands)	With no allowance		With an allowance		Total		With no allowance		With an allowance		Total
Owner occupied CRE	$	5,861	$	1,922	$	7,783	$	2,451	$	643	$	3,094
Income producing CRE	30,802		420		31,222		11,003		19,125		30,128
Commercial & industrial	20,391		8,465		28,856		11,940		1,527		13,467
Commercial construction	6,439		917		7,356		1,784		94		1,878
Equipment financing	32		9,091		9,123		57		8,448		8,505
Total commercial	63,525		20,815		84,340		27,235		29,837		57,072
Residential mortgage	3,750		18,101		21,851		1,836		12,108		13,944
Home equity	273		3,838		4,111		1,276		2,496		3,772
Residential construction	55		63		118		398		546		944
Manufactured housing	—		1,808		1,808		—		15,861		15,861
Consumer	24		128		152		2		92		94
Total	$	67,627	$	44,753	$	112,380	$	30,747	$	60,940	$	91,687

Risk Ratings

United categorizes commercial loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, public information, and current industry and economic trends, among other factors. United analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continual basis. United uses the following definitions for its risk ratings:

Pass. Loans in this category are considered to have a low probability of default and do not meet the criteria of the risk categories below.

Special Mention. Loans in this category are presently protected from apparent loss; however, weaknesses exist that could cause future impairment, including the deterioration of financial ratios, past due status and questionable management capabilities. These loans require more than the ordinary amount of supervision. Collateral values generally afford adequate coverage, but may not be immediately marketable.

Substandard. These loans are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged. Specific and well-defined weaknesses exist that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. There is the distinct possibility that United will sustain some loss if deficiencies are not corrected. If possible, immediate corrective action is taken.

Doubtful. Specific weaknesses characterized as Substandard that are severe enough to make collection in full highly questionable and improbable. There is no reliable secondary source of full repayment.

Loss. Loans categorized as Loss have the same characteristics as Doubtful; however, probability of loss is certain. Loans classified as Loss are charged off.

Consumer Purpose Loans. United applies a pass / fail grading system to all consumer purpose loans. Under this system, loans that are on nonaccrual status, become past due 90 days, or are in bankruptcy and 30 or more days past due are classified as “fail” and all other loans are classified as “pass”. For reporting purposes, loans in these categories that are classified as “fail” are reported as substandard and all other loans are reported as pass.

The following tables present the risk category of term loans and gross charge-offs by vintage year, which is the year of origination or most recent renewal, as of the date indicated. See Note 1 for description of revisions to December 31, 2023 table.



(in thousands)	Term Loans by Origination Year												Revolvers		Revolvers converted to term loans		Total
As of September 30, 2024	2024		2023		2022		2021		2020		Prior

Owner occupied CRE
Pass	$	316,117	$	559,036	$	621,603	$	581,389	$	521,698	$	462,600	$	110,319	$	20,397	$	3,193,159
Special Mention	858		13,318		9,288		8,025		6,466		8,596		5,263		434		52,248
Substandard	2,772		3,730		36,405		7,860		7,632		18,371		1,221		—		77,991

Total owner occupied CRE	$	319,747	$	576,084	$	667,296	$	597,274	$	535,796	$	489,567	$	116,803	$	20,831	$	3,323,398
Current period gross charge-offs	$	—	$	—	$	221	$	—	$	—	$	707	$	—	$	—	$	928
Income producing CRE
Pass	$	246,550	$	491,692	$	926,155	$	917,339	$	679,893	$	667,486	$	43,843	$	15,133	$	3,988,091
Special Mention	11,692		2,161		26,843		2,097		9,189		16,077		49		—		68,108
Substandard	47,610		42,175		15,675		1,270		35,052		60,605		—		—		202,387

Total income producing CRE	$	305,852	$	536,028	$	968,673	$	920,706	$	724,134	$	744,168	$	43,892	$	15,133	$	4,258,586
Current period gross charge-offs	$	—	$	3,128	$	—	$	—	$	—	$	1,691	$	—	$	—	$	4,819
Commercial & industrial
Pass	$	313,051	$	481,163	$	315,902	$	218,440	$	132,365	$	206,307	$	503,750	$	8,159	$	2,179,137
Special Mention	6,293		5,401		2,831		2,838		4,436		1,177		32,861		1,775		57,612
Substandard	3,188		14,975		9,853		15,191		2,871		7,515		16,224		6,091		75,908

Total commercial & industrial	$	322,532	$	501,539	$	328,586	$	236,469	$	139,672	$	214,999	$	552,835	$	16,025	$	2,312,657
Current period gross charge-offs	$	171	$	2,502	$	5,645	$	1,737	$	827	$	1,236	$	—	$	1,951	$	14,069
Commercial construction
Pass	$	349,313	$	404,059	$	570,301	$	216,231	$	43,844	$	75,227	$	52,181	$	1,621	$	1,712,777
Special Mention	4,850		535		44,346		4,137		—		106		2,657		—		56,631
Substandard	1,901		4,329		2,627		2,432		4,058		204		—		—		15,551

Total commercial construction	$	356,064	$	408,923	$	617,274	$	222,800	$	47,902	$	75,537	$	54,838	$	1,621	$	1,784,959
Current period gross charge-offs	$	—	$	69	$	53	$	—	$	—	$	—	$	—	$	—	$	122
Equipment financing
Pass	$	515,687	$	493,674	$	368,082	$	147,323	$	44,781	$	19,661	$	—	$	—	$	1,589,208
Special Mention	—		—		711		2,093		773		557		—		—		4,134
Substandard	324		1,961		4,656		1,915		496		778		—		—		10,130
Total equipment financing	$	516,011	$	495,635	$	373,449	$	151,331	$	46,050	$	20,996	$	—	$	—	$	1,603,472
Current period gross charge-offs	$	52	$	3,780	$	9,931	$	5,288	$	822	$	302	$	—	$	—	$	20,175
Residential mortgage
Pass	$	90,331	$	323,056	$	1,035,953	$	1,013,091	$	409,582	$	361,855	$	6	$	3,042	$	3,236,916
Substandard	2,141		3,264		6,821		1,973		2,038		10,130		—		226		26,593
Total residential mortgage	$	92,472	$	326,320	$	1,042,774	$	1,015,064	$	411,620	$	371,985	$	6	$	3,268	$	3,263,509
Current period gross charge-offs	$	—	$	50	$	70	$	2	$	—	$	10	$	—	$	—	$	132
Home equity
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	981,013	$	28,860	$	1,009,873
Substandard	—		—		—		—		—		—		—		4,671		4,671
Total home equity	$	—	$	—	$	—	$	—	$	—	$	—	$	981,013	$	33,531	$	1,014,544
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	95	$	95
Residential construction
Pass	$	51,011	$	80,832	$	37,426	$	9,393	$	4,698	$	5,162	$	—	$	91	$	188,613
Substandard	—		—		104		—		5		98		—		—		207
Total residential construction	$	51,011	$	80,832	$	37,530	$	9,393	$	4,703	$	5,260	$	—	$	91	$	188,820
Current period gross charge-offs	$	—	$	221	$	59	$	48	$	—	$	—	$	—	$	—	$	328
Manufactured housing
Pass	$	126	$	—	$	81	$	—	$	—	$	157	$	—	$	—	$	364
Substandard	289		550		241		112		203		419		—		—		1,814
Total manufactured housing	$	415	$	550	$	322	$	112	$	203	$	576	$	—	$	—	$	2,178
Current period gross charge-offs	$	—	$	1,665	$	3,518	$	2,519	$	2,512	$	4,261	$	—	$	—	$	14,475
Consumer
Pass	$	70,500	$	51,741	$	24,315	$	8,781	$	8,091	$	759	$	23,031	$	396	$	187,614
Substandard	—		71		44		46		18		4		—		2		185
Total consumer	$	70,500	$	51,812	$	24,359	$	8,827	$	8,109	$	763	$	23,031	$	398	$	187,799
Current period gross charge-offs	$	2,333	$	207	$	132	$	27	$	11	$	8	$	—	$	123	$	2,841


(in thousands)	Term Loans												Revolvers		Revolvers converted to term loans		Total
December 31, 2023 (revised)	2023		2022		2021		2020		2019		Prior
Owner occupied CRE
Pass	$	592,932	$	654,845	$	618,811	$	577,916	$	224,684	$	364,579	$	117,212	$	18,671	$	3,169,650
Special Mention	1,308		7,768		4,266		4,919		9,221		6,155		100		254		33,991
Substandard	3,266		8,037		15,975		11,544		8,437		9,042		1,421		2,688		60,410

Total owner occupied CRE	$	597,506	$	670,650	$	639,052	$	594,379	$	242,342	$	379,776	$	118,733	$	21,613	$	3,264,051
Current period gross charge-offs	$	—	$	48	$	—	$	819	$	—	$	207	$	—	$	—	$	1,074
Income producing CRE
Pass	$	464,979	$	904,015	$	863,308	$	795,143	$	362,139	$	526,968	$	50,659	$	13,247	$	3,980,458
Special Mention	7,626		31,993		18,989		26,217		19,904		27,893		—		—		132,622
Substandard	31,530		10,041		6,343		5,436		43,450		54,018		—		54		150,872

Total income producing CRE	$	504,135	$	946,049	$	888,640	$	826,796	$	425,493	$	608,879	$	50,659	$	13,301	$	4,263,952
Current period gross charge-offs	$	—	$	2,534	$	—	$	—	$	—	$	5,324	$	—	$	—	$	7,858
Commercial & industrial
Pass	$	573,391	$	431,962	$	280,372	$	136,975	$	86,300	$	169,570	$	581,871	$	13,332	$	2,273,773
Special Mention	2,908		4,449		1,642		5,430		5,473		718		14,861		274		35,755
Substandard	5,272		5,022		23,562		11,432		5,454		3,178		46,282		1,315		101,517

Total commercial & industrial	$	581,571	$	441,433	$	305,576	$	153,837	$	97,227	$	173,466	$	643,014	$	14,921	$	2,411,045
Current period gross charge-offs	$	5,430	$	1,462	$	13,271	$	2,477	$	787	$	286	$	—	$	1,825	$	25,538
Commercial construction
Pass	$	525,988	$	647,516	$	396,958	$	111,045	$	66,635	$	28,902	$	62,370	$	966	$	1,840,380
Special Mention	—		—		6		28		—		124		—		—		158
Substandard	1,109		2,408		10,018		5,188		195		82		—		—		19,000

Total commercial construction	$	527,097	$	649,924	$	406,982	$	116,261	$	66,830	$	29,108	$	62,370	$	966	$	1,859,538
Current period gross charge-offs	$	—	$	60	$	—	$	—	$	—	$	—	$	—	$	—	$	60
Equipment financing
Pass	$	673,201	$	496,336	$	233,422	$	83,507	$	41,053	$	3,722	$	—	$	—	$	1,531,241
Substandard	1,471		4,141		2,487		960		817		3		—		—		9,879

Total equipment financing	$	674,672	$	500,477	$	235,909	$	84,467	$	41,870	$	3,725	$	—	$	—	$	1,541,120
Current period gross charge-offs	$	474	$	10,902	$	9,764	$	1,960	$	786	$	320	$	—	$	—	$	24,206
Residential mortgage
Pass	$	319,604	$	975,957	$	1,032,182	$	440,287	$	130,378	$	280,357	$	6	$	3,415	$	3,182,186
Substandard	1,480		2,580		2,180		889		1,991		7,374		—		248		16,742
Total residential mortgage	$	321,084	$	978,537	$	1,034,362	$	441,176	$	132,369	$	287,731	$	6	$	3,663	$	3,198,928
Current period gross charge-offs	$	—	$	51	$	—	$	—	$	—	$	38	$	—	$	—	$	89
Home equity
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	926,596	$	28,412	$	955,008
Substandard	—		—		—		—		—		—		—		3,979		3,979
Total home equity	$	—	$	—	$	—	$	—	$	—	$	—	$	926,596	$	32,391	$	958,987
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	167	$	167
Residential construction
Pass	$	92,490	$	153,868	$	42,237	$	5,201	$	1,046	$	5,655	$	—	$	93	$	300,590
Substandard	517		243		149		6		—		145		—		—		1,060
Total residential construction	$	93,007	$	154,111	$	42,386	$	5,207	$	1,046	$	5,800	$	—	$	93	$	301,650
Current period gross charge-offs	$	—	$	1,111	$	—	$	—	$	—	$	—	$	—	$	—	$	1,111
Manufactured housing
Pass	$	45,065	$	69,424	$	48,814	$	43,735	$	31,321	$	80,284	$	—	$	—	$	318,643
Substandard	1,078		4,647		3,570		3,020		1,282		4,234		—		—		17,831
Total manufactured housing	$	46,143	$	74,071	$	52,384	$	46,755	$	32,603	$	84,518	$	—	$	—	$	336,474
Current period gross charge-offs	$	38	$	1,503	$	985	$	419	$	279	$	690	$	—	$	—	$	3,914
Consumer
Pass	$	86,049	$	39,461	$	16,369	$	10,350	$	1,214	$	668	$	26,239	$	534	$	180,884
Substandard	50		55		53		25		5		13		32		—		233
Total consumer	$	86,099	$	39,516	$	16,422	$	10,375	$	1,219	$	681	$	26,271	$	534	$	181,117
Current period gross charge-offs	$	3,245	$	241	$	233	$	38	$	15	$	1	$	5	$	204	$	3,982

Modifications to Borrowers Experiencing Financial Difficulty

The period-end amortized cost and additional information regarding loans modified under the terms of a FDM during the nine months ended September 30, 2024 and 2023 are presented in the following tables.


Nine Months Ended September 30, 2024
	New FDMs				Defaults within 12 months of modification
(dollars in thousands)	Amortized Cost		% of Total Class of Receivable















Owner occupied CRE	$	3,425	0.1	%	$	1,781
Income producing CRE	21,471		0.5		—
Commercial & industrial	23,063		1.0		329

Equipment financing	4,891		0.3		317

Residential mortgage	2,755		0.1		720


Manufactured housing	305		14.0		—
Consumer	111		0.1		—
Total	$	56,021	0.3		$	3,147

Nine Months Ended September 30, 2024

New FDMs

(dollars in thousands)

Amortized Cost

Weighted Average Modification

Extension

Owner occupied CRE

197

6 months

Commercial & industrial

19,445

1.1 years

Residential mortgage

225

10.2 years

Consumer

111

2.1 years

Total

19,978

Payment Delay

Owner occupied CRE (1)

1,631

5 months

Income producing CRE (2)

12,976

1.5 years

Commercial & industrial (1)

165

7 months

Residential mortgage

139

6 months

Total

14,911

Rate Reduction

Commercial & industrial

488

50 basis points

Payment Delay and Extension

Commercial & industrial

403

Payment delay: 4 months; Extension: 2.8 years

Equipment financing

4,891

Extension and payment delay: 8 months

Total

5,294

Rate Reduction and Extension

Income producing CRE

8,495

Rate reduction: 304 basis points; Extension: 4.8 years

Residential mortgage

2,391

Rate reduction: 448 basis points; Extension: 3.6 years

Manufactured housing

305

Rate reduction: 538 basis points; Extension: 3.6 years

Total

11,191

Rate Reduction and Payment Delay

Owner occupied CRE

1,438

Rate reduction: 75 basis points; Payment delay: 6 months

Commercial & industrial

106

Rate reduction: 150 basis points; Payment delay: 6 months

Total

1,544

Rate Reduction, Payment Delay & Extension

Owner occupied CRE

159

Rate reduction: 75 basis points; Payment delay: 6 months;

Extension: 3 years

Commercial & industrial

2,456

Rate reduction: 273 basis points; Payment delay: 6 months;

Extension: 4.6 years

Total

2,615

Total

56,021

(1) Payment delay FDMs in bankruptcy are excluded from the weighted average payment delay calculation.

(2) Payment delays in this category reflect principal payment delays, while interest payments continue in accordance with loan terms.


Nine Months Ended September 30, 2023
	New FDMs												Defaults within 12 months of modification
	Amortized Cost by Type of Modification
(dollars in thousands)	Extension		Payment Delay		Payment Delay & Extension		Rate Reduction & Extension		Total		% of Total Class of Receivable
Owner occupied CRE	$	782	$	276	$	—	$	—	$	1,058	—	%		$	—
Income producing CRE	38,139		—		—		35,369		73,508		1.8			—
Commercial & industrial	4,029		13,673		1,663		—		19,365		0.8			—
Commercial construction	—		366		—		—		366		—			—
Equipment financing	15,888		—		1,763		—		17,651		1.2			910

Residential mortgage	57		—		—		930		987		—			—

Residential construction	—		—		—		47		47		—			—
Manufactured housing	—		—		—		256		256		0.1			—

Total	$	58,895	$	14,315	$	3,426	$	36,602	$	113,238	0.6			$	910

The following paragraphs further describe the terms of FDMs executed during the nine months ended September 30, 2023:

Equipment financing FDMs typically consist of extensions and/or payment delays in which the borrower receives one or more three-month extensions and/or payment delays beyond the original maturity date. For the remainder of extension FDMs occurring during the first nine months of 2023, the weighted average extension granted was approximately 13 months.

Commercial and industrial payment delay FDMs include $2.86 million of loans in bankruptcy status. Excluding bankruptcy status loans, the remainder of FDMs in this category had a weighted average payment delay of approximately three months.

During the nine months ended September 30, 2023, income producing CRE FDMs categorized as rate reduction and extensions resulted in a decrease in weighted average interest rate of 158 basis points and extended the weighted average maturity by two years. Residential mortgage and manufactured housing FDMs resulted in a decrease in the weighted average interest rate on these FDMs of 562 basis points and extended the weighted average maturity by 17.5 years.

Allowance for Credit Losses

The ACL for loans represents management’s estimate of life of loan credit losses in the portfolio as of the end of the period. The ACL related to unfunded commitments is included in other liabilities in the consolidated balance sheet.

At both September 30, 2024 and December 31, 2023, United used a one-year reasonable and supportable forecast period. Expected credit losses were estimated using a regression model for each segment based on historical data from peer banks combined with a third party vendor’s baseline economic forecast to predict the change in credit losses. These estimates were then combined with a starting value that was based on United’s recent charge-off experience to produce an expected default rate, with the results subject to a floor. Beginning in the second quarter of 2024, United adjusted the model assumption regarding the look-back period used to determine the starting value for the expected default rate, which decreased the need for model overlays and, collectively, had no material impact on the ACL.

In the case of commercial & industrial loans, at September 30, 2024, the expected default rate was adjusted downward by a model overlay based on expectations of future performance.

At September 30, 2024, the third party vendor’s baseline economic forecast had improved slightly relative to the forecast at December 31, 2023. At September 30, 2024, United applied qualitative adjustments to the model output for the residential mortgage, owner occupied CRE, commercial and industrial, manufactured housing and equipment finance portfolios. In addition, a qualitative adjustment was made for loans in certain western North Carolina areas affected by Hurricane Helene.

For periods beyond the reasonable and supportable forecast period of one year, United reverted to historical credit loss information on a straight line basis over two years. For most collateral types, United reverted to through-the-cycle average default rates using peer data from 2000 to 2017. For loans secured by residential mortgages and manufactured housing, the peer data was adjusted for changes in lending practices designed to mitigate the magnitude of losses observed during the 2008 mortgage crisis.

The following table presents the balance and activity in the ACL by portfolio segment for the periods indicated (in thousands).


	Three Months Ended September 30,
	2024								2023
	Beginning Balance		Charge-Offs		Recoveries		(Release) Provision		Ending Balance		Beginning Balance		Initial ACL - PCD loans (1)		Charge-Offs		Recoveries		(Release) Provision		Ending Balance
Owner occupied CRE	$	21,787	$	(127)	$	311	$	(736)	$	21,235	$	21,788	$	92	$	(656)	$	74	$	2,686	$	23,984
Income producing CRE	42,894		(1,461)		52		(2,009)		39,476		38,775		3,092		(3,044)		33		6,732		45,588
Commercial & industrial	32,101		(5,999)		1,422		7,175		34,699		29,856		533		(19,702)		2,160		18,370		31,217
Commercial construction	19,617		(69)		33		(3,548)		16,033		22,276		—		—		49		(1,686)		20,639
Equipment financing	45,115		(6,282)		1,014		6,019		45,866		28,604		—		(7,215)		890		8,083		30,362
Residential mortgage	28,612		(110)		78		5,723		34,303		25,431		—		(16)		145		1,324		26,884
Home equity	9,386		(88)		52		1,415		10,765		10,609		—		(22)		2,806		(3,594)		9,799
Residential construction	1,384		(139)		28		213		1,486		3,446		—		(474)		133		(231)		2,874
Manufactured housing	11,522		(11,635)		79		564		530		9,204		—		(1,171)		3		1,342		9,378
Consumer	604		(1,064)		254		1,103		897		716		—		(863)		232		747		832
ACL - loans	213,022		(26,974)		3,323		15,919		205,290		190,705		3,717		(33,163)		6,525		33,773		201,557
ACL - unfunded commitments	11,718		—		—		(1,491)		10,227		21,572		—		—		—		(3,505)		18,067
Total ACL	$	224,740	$	(26,974)	$	3,323	$	14,428	$	215,517	$	212,277	$	3,717	$	(33,163)	$	6,525	$	30,268	$	219,624


	Nine Months Ended September 30,
	2024								2023
	Beginning Balance		Charge-Offs		Recoveries		(Release) Provision		Ending Balance		Beginning Balance		Initial ACL - PCD loans (1)		Charge- Offs		Recoveries		(Release) Provision		Ending Balance
Owner occupied CRE	$	23,542	$	(928)	$	747	$	(2,126)	$	21,235	$	19,834	$	273	$	(863)	$	396	$	4,344	$	23,984
Income producing CRE	47,755		(4,819)		237		(3,697)		39,476		32,082		3,399		(7,858)		1,357		16,608		45,588
Commercial & industrial	30,890		(14,069)		4,305		13,573		34,699		23,504		1,891		(24,353)		3,840		26,335		31,217
Commercial construction	21,741		(122)		114		(5,700)		16,033		20,120		39		—		191		289		20,639
Equipment financing	33,383		(20,175)		3,043		29,615		45,866		23,395		—		(14,994)		2,757		19,204		30,362
Residential mortgage	28,219		(132)		223		5,993		34,303		20,809		157		(61)		320		5,659		26,884
Home equity	9,647		(95)		140		1,073		10,765		8,707		534		(167)		2,977		(2,252)		9,799
Residential construction	1,833		(328)		72		(91)		1,486		2,049		124		(1,111)		162		1,650		2,874
Manufactured housing	10,339		(14,475)		200		4,466		530		8,098		—		(2,445)		29		3,696		9,378
Consumer	722		(2,841)		730		2,286		897		759		4		(3,007)		709		2,367		832
ACL - loans	208,071		(57,984)		9,811		45,392		205,290		159,357		6,421		(54,859)		12,738		77,900		201,557
ACL - unfunded commitments	16,057		—		—		(5,830)		10,227		21,163		—		—		—		(3,096)		18,067
Total ACL	$	224,128	$	(57,984)	$	9,811	$	39,562	$	215,517	$	180,520	$	6,421	$	(54,859)	$	12,738	$	74,804	$	219,624

(1) For the three months ended September 30, 2023, represents the initial ACL related to PCD loans acquired in the First Miami transaction. For the nine months ended September 30, 2023, represents the initial ACL related to PCD loans acquired in the First Miami and Progress transactions.

Commitments and Contingencies - Tax Credit and Certain Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Investment, proportional amortization method, elected, statement of financial position [extensible enumeration]	Other assets (including $104,796 and $111,879 at fair value, respectively)	Other assets (including $104,796 and $111,879 at fair value, respectively)
Investments in LIHTC:
Other Commitments [Line Items]
Investments in LIHTC: Carrying amount	$ 54,161	$ 48,867
Investments in LIHTC: \| Other liabilities
Other Commitments [Line Items]
Investments in LIHTC: Amount of future funding commitments included in carrying amount	19,147	14,176
Investments in LIHTC: \| Loans and leases held for investment
Other Commitments [Line Items]
Investments in LIHTC: Lending exposure	10,988	803
Renewable energy investments:
Other Commitments [Line Items]
Amount of future funding commitments	13,214	14,406
Renewable energy investments: \| Other assets
Other Commitments [Line Items]
Carrying amount	3,373	18,631
Fintech funds and certain other equity method investments:
Other Commitments [Line Items]
Amount of future funding commitments	28,518	25,008
Fintech funds and certain other equity method investments: \| Other assets
Other Commitments [Line Items]
Carrying amount	$ 35,962	$ 33,720

Common Stock	9 Months Ended
Common Stock	Sep. 30, 2024
Equity [Abstract]
Common Stock	Common Stock In August of 2024, the Board approved an increase of the common stock repurchase authority under United’s common stock repurchase program to $100 million and approved the extension of the program through December 31, 2025. During the three and nine months ended September 30, 2024 and 2023, no shares were repurchased under the program. As of September 30, 2024, United had remaining authorization to repurchase up to $100 million of outstanding common stock under the program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Loans and Leases and Allowance for Credit Losses - Loans Held for Investment Sold (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans sold	$ 335,377	$ 64,052	$ 399,790	$ 147,168
Manufactured housing loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans sold	302,870	0	302,870	0
Guaranteed portion of SBA/USDA loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans sold	11,385	26,381	39,084	70,223
Equipment financing receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans sold	$ 21,122	$ 37,671	$ 57,836	$ 76,945

Stock-Based Compensation - Restricted Stock Unit and Option Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Shares
Beginning balance, outstanding (in shares) \| shares	406,737
Granted (in shares) \| shares	0
Released / Exercised (in shares) \| shares	(86,010)
Cancelled (in shares) \| shares	(2,353)
Ending balance, outstanding (in shares) \| shares	318,374
Vested / Exercisable (in shares) \| shares	318,374
Weighted- Average Exercise Price
Beginning balance, outstanding (in dollars per share) \| $ / shares	$ 21.19
Granted (in dollars per share) \| $ / shares	0
Released / Exercised (in dollars per share) \| $ / shares	20.37
Cancelled (in dollars per share) \| $ / shares	26.05
Ending balance, outstanding (in dollars per share) \| $ / shares	21.37
Vested / Exercisable (in dollars per share) \| $ / shares	$ 21.37
Outstanding, Weighted Average Remaining Term (in years)	4 years 6 months
Vested / Exercisable, Weighted Average Remaining Term (in years)	4 years 6 months
Released / Exercised during period, Aggregate Intrinsic Value \| $	$ 637
Outstanding, Aggregate Intrinsic Value \| $	2,454
Vested / Exercisable, Aggregate Intrinsic Value \| $	$ 2,454
Restricted Stock Unit Awards
Shares
Outstanding, beginning balance (in shares) \| shares	929,367
Granted (in shares) \| shares	514,326
Released / Exercised (in shares) \| shares	(205,034)
Cancelled (in shares) \| shares	(80,752)
Outstanding, ending balance (in shares) \| shares	1,157,907
Vested / Exercisable (in shares) \| shares	0
Weighted- Average Grant- Date Fair Value
Outstanding, beginning balance (in dollars per share) \| $ / shares	$ 28.85
Granted (in dollars per share) \| $ / shares	29.30
Released / Exercised (in dollars per share) \| $ / shares	26.70
Cancelled (in dollars per share) \| $ / shares	28.01
Outstanding, ending balance (in dollars per share) \| $ / shares	29.52
Vested / Exercisable (in dollars per share) \| $ / shares	$ 0
Aggregate Intrinsic Value, Released / Exercised \| $	$ 5,740
Aggregate Intrinsic Value, Outstanding \| $	$ 33,672

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income, Before-tax Amount	$ 59,784	$ 59,791	$ 226,596	$ 221,395
Net income, Tax (Expense) Benefit	(12,437)	(11,925)	(50,003)	(47,941)
Net income	47,347	47,866	176,593	173,454
Unrealized gains (losses) on available-for-sale securities:
Unrealized holding (losses) gains, Before-tax Amount		(38,209)		(14,683)
Unrealized holding (losses) gains, Tax (Expense) Benefit		8,900		3,398
Unrealized holding (losses) gains, Net of Tax Amount		(29,309)		(11,285)
Reclassification adjustment for losses included in net income, Before-tax Amount		0		1,644
Reclassification adjustment for losses included in net income, Tax (Expense) Benefit	0	0	0	(374)
Reclassification adjustment for losses included in net income, Net of Tax Amount		0		1,270
Net unrealized (losses) gains, Before-tax Amount	59,830	(38,209)	61,534	(13,039)
Net unrealized (losses) gains, Tax (Expense) Benefit	(13,750)		(14,732)
Net unrealized (losses) gains, Tax (Expense) Benefit		8,900		3,024
Net unrealized (losses) gains, Net of Tax Amount	46,080	(29,309)	46,802	(10,015)
Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale, Before-tax amount	2,235		6,772
Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale, Tax (Expense) Benefit	(528)		(1,723)
Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale, Net of Tax Amount	1,707		5,049
Unrealized losses on held-to-maturity securities transferred from available-for-sale:
Amortization of unrealized losses, Before-tax Amount		2,478		7,964
Amortization of unrealized losses, Tax (Expense) Benefit		(593)		(1,917)
Amortization of unrealized losses, Net of Tax Amount		1,885		6,047
Derivative instruments designated as cash flow hedges:
Unrealized holding gains (losses) on derivatives, Before-tax Amount	(2,632)	1,091	892	3,192
Unrealized holding gains (losses) on derivatives, Tax (Expense) Benefit	665	(279)	(188)	(815)
Unrealized holding gains (losses) on derivatives, Net of Tax Amount	(1,967)	812	704	2,377
Gains on derivative instruments realized in net income, Before-tax Amount	(1,441)	(42)	(4,319)	(2,098)
Gains on derivative instruments realized in net income, Tax (Expense) Benefit	364	11	1,095	536
Gains on derivative instruments realized in net income, Net of Tax Amount	(1,077)	(31)	(3,224)	(1,562)
Net cash flow hedge activity, Before-tax Amount	(4,073)	1,049	(3,427)	1,094
Net cash flow hedge activity, Tax (Expense) Benefit	1,029	(268)	907	(279)
Net cash flow hedge activity, Net of tax Amount	(3,044)	781	(2,520)	815
Amortization of defined benefit pension plan net periodic pension cost components, Before-tax Amount	44	61	134	183
Amortization of defined benefit pension plan net periodic pension cost components, Tax (Expense) Benefit	(11)	(16)	(34)	(47)
Amortization of defined benefit pension plan net periodic pension cost components, Net of Tax Amount	33	45	100	136
Total other comprehensive (loss) income, Before-tax Amount	58,036	(34,621)	65,013	(3,798)
Total other comprehensive (loss) income, Tax (Expense) Benefit	(13,260)	8,023	(15,582)	781
Total other comprehensive (loss) income, Net of Tax Amount	44,776	(26,598)	49,431	(3,017)
Comprehensive income, Before-tax Amount	117,820	25,170	291,609	217,597
Comprehensive income, Tax (Expense) Benefit	(25,697)	(3,902)	(65,585)	(47,160)
Comprehensive income, Net of Tax Amount	$ 92,123	$ 21,268	$ 226,024	$ 170,437

Earnings Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2024		2023		2024		2023
Net income	$	47,347	$	47,866	$	176,593	$	173,454
Dividends on preferred stock	(1,573)		(1,624)		(4,719)		(5,062)
Discount on preferred shares repurchased	—		792		—		792
Earnings allocated to participating securities	(272)		(259)		(988)		(939)
Net income available to common shareholders	$	45,502	$	46,775	$	170,886	$	168,245

Weighted average shares outstanding:
Basic	119,818		119,506		119,736		116,925
Effect of dilutive securities:
Stock options	84		95		75		141
Restricted stock units	50		23		16		18
Diluted	119,952		119,624		119,827		117,084

Net income per common share:
Basic	$	0.38	$	0.39	$	1.43	$	1.44
Diluted	$	0.38	$	0.39	$	1.43	$	1.44

For the three months ended September 30, 2024, no potentially dilutive shares of common stock issuable upon exercise of stock options were excluded from the computation of earnings per share because of their antidilutive effect. For the three months ended September 30, 2023, United excluded from the computation of earnings per share 1,968 potentially dilutive shares of common stock issuable upon exercise of stock options because of their antidilutive effect.

Loans and Leases and Allowance for Credit Losses - Components of Net Investment in Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Net Investment in Leases
Minimum future lease payments receivable	$ 92,445	$ 75,198
Estimated residual value of leased equipment	5,143	4,445
Initial direct costs	1,749	1,402
Security deposits	(482)	(413)
Unearned income	(14,621)	(11,711)
Net investment in leases	$ 84,234	$ 68,921

Assets and Liabilities Measured at Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents United’s assets and liabilities measured at fair value on a recurring basis as of the dates indicated, aggregated by the level in the fair value hierarchy within which those measurements fall.


(in thousands)
September 30, 2024	Level 1		Level 2		Level 3		Total
Assets:
AFS debt securities:
U.S. Treasuries	$	535,986	$	—	$	—	$	535,986
U.S. Government agencies & GSEs	—		351,807		—		351,807
State and political subdivisions	—		163,604		—		163,604
Residential MBS	—		1,731,364		—		1,731,364
Commercial MBS	—		886,683		—		886,683
Corporate bonds	—		193,294		2,226		195,520
Asset-backed securities	—		158,491		—		158,491
Equity securities with readily determinable fair values	5,794		2,100		—		7,894
Mortgage loans held for sale	—		49,800		—		49,800
Deferred compensation plan assets	14,459		—		—		14,459
Servicing rights for SBA/USDA loans	—		—		4,937		4,937
Residential mortgage servicing rights	—		—		35,378		35,378
Derivative financial instruments	—		31,973		10,155		42,128
Total assets	$	556,239	$	3,569,116	$	52,696	$	4,178,051

Liabilities:
Deferred compensation plan liability	$	14,454	$	—	$	—	$	14,454
Derivative financial instruments	—		54,037		10,557		64,594

Total liabilities	$	14,454	$	54,037	$	10,557	$	79,048


(in thousands)
December 31, 2023	Level 1		Level 2		Level 3		Total
Assets:
AFS debt securities:
U.S. Treasuries	$	387,349	$	—	$	—	$	387,349
U.S. Government agencies & GSEs	—		267,500		—		267,500
State and political subdivisions	—		164,049		—		164,049
Residential MBS	—		1,507,598		—		1,507,598
Commercial MBS	—		641,654		—		641,654
Corporate bonds	—		199,017		2,205		201,222
Asset-backed securities	—		161,712		—		161,712
Equity securities with readily determinable fair values	5,767		1,628		—		7,395
Mortgage loans held for sale	—		33,008		—		33,008
Deferred compensation plan assets	12,791		—		—		12,791
Servicing rights for SBA/USDA loans	—		—		5,444		5,444
Residential mortgage servicing rights	—		—		35,897		35,897
Derivative financial instruments	—		39,710		10,642		50,352
Total assets	$	405,907	$	3,015,876	$	54,188	$	3,475,971

Liabilities:
Deferred compensation plan liability	$	12,838	$	—	$	—	$	12,838
Derivative financial instruments	—		73,639		11,172		84,811
Total liabilities	$	12,838	$	73,639	$	11,172	$	97,649

Schedule of Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs

The following table shows a reconciliation of the beginning and ending balances for the periods indicated for assets measured at fair value on a recurring basis using significant unobservable inputs that are classified as Level 3 values.


	2024										2023
(in thousands)	Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds		Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds
Three Months Ended September 30,
Beginning balance	$	12,933	$	13,313	$	5,247	$	38,014	$	2,197	$	11,872	$	12,564	$	6,148	$	37,194	$	2,183

Additions	1,274		58		235		1,091		—		—		—		525		826		—

Sales and settlements	(2,064)		—		(197)		(1,095)		—		—		—		(418)		(534)		—
Fair value adjustments included in OCI	—		—		—		—		29		—		—		—		—		(4)
Fair value adjustments included in earnings	(1,988)		(2,814)		(348)		(2,632)		—		1,207		1,074		(824)		748		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

Nine Months Ended September 30,
Beginning balance	$	10,642	$	11,172	$	5,444	$	35,897	$	2,205	$	11,513	$	12,840	$	5,188	$	36,559	$	2,212
Business combinations	—		—		—		—		—		—		—		95		—		—
Additions	4,102		58		750		2,869		—		—		170		1,449		2,306		—

Transfers from Level 2	484		925		—		—		—		—		—		—		—		—
Sales and settlements	(4,381)		—		(751)		(2,892)		—		(11)		—		(869)		(1,482)		—
Fair value adjustments included in OCI	—		—		—		—		21		—		—		—		—		(33)
Fair value adjustments included in earnings	(692)		(1,598)		(506)		(496)		—		1,577		628		(432)		851		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

Schedule of Reconciliation of Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs


	2024										2023
(in thousands)	Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds		Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds
Three Months Ended September 30,
Beginning balance	$	12,933	$	13,313	$	5,247	$	38,014	$	2,197	$	11,872	$	12,564	$	6,148	$	37,194	$	2,183

Additions	1,274		58		235		1,091		—		—		—		525		826		—

Sales and settlements	(2,064)		—		(197)		(1,095)		—		—		—		(418)		(534)		—
Fair value adjustments included in OCI	—		—		—		—		29		—		—		—		—		(4)
Fair value adjustments included in earnings	(1,988)		(2,814)		(348)		(2,632)		—		1,207		1,074		(824)		748		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

Nine Months Ended September 30,
Beginning balance	$	10,642	$	11,172	$	5,444	$	35,897	$	2,205	$	11,513	$	12,840	$	5,188	$	36,559	$	2,212
Business combinations	—		—		—		—		—		—		—		95		—		—
Additions	4,102		58		750		2,869		—		—		170		1,449		2,306		—

Transfers from Level 2	484		925		—		—		—		—		—		—		—		—
Sales and settlements	(4,381)		—		(751)		(2,892)		—		(11)		—		(869)		(1,482)		—
Fair value adjustments included in OCI	—		—		—		—		21		—		—		—		—		(33)
Fair value adjustments included in earnings	(692)		(1,598)		(506)		(496)		—		1,577		628		(432)		851		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

Schedule of Quantitative Information About Level 3 Fair Value Measurements for Fair Value on a Recurring Basis

The following table presents quantitative information about significant Level 3 inputs for fair value on a recurring basis as of the dates indicated.


Level 3 Assets and Liabilities	Valuation Technique	Significant Unobservable Inputs	September 30, 2024			December 31, 2023
			Range	Weighted Average		Range	Weighted Average
SBA/USDA loan servicing rights	Discounted cash flow	Discount rate	4.8% - 23.5%	11.8	%	8.4% - 25.0%	16.2	%
		Prepayment rate	0.1 - 39.8	20.2		3.5 - 37.4	18.5
Residential mortgage servicing rights	Discounted cash flow	Discount rate	10.0 - 12.5	10.0		10.0 - 15.0	10.0
		Prepayment rate	6.5 - 77.7	8.7		6.5 - 29.9	8.0
Corporate bonds	Discounted cash flow	Discount rate	5.7 - 6.4	6.2		6.1 - 6.7	6.5


Derivative assets - mortgage	Internal model	Pull through rate	73.0 - 100	91.1		60.0 - 100	90.5
Derivative assets and liabilities - other	Dealer priced	Dealer priced	N/A	N/A		N/A	N/A

Schedule of Loans Held for Sale at Fair Value Under the Fair Value Option

The following tables present the fair value and outstanding principal balance of loans accounted for under the fair value option, as well as the gain or loss recognized from the change in fair value for the periods indicated.


Mortgage Loans Held for Sale
(in thousands)	September 30, 2024		December 31, 2023
Outstanding principal balance	$	48,228	$	31,788
Fair value	49,800		33,008


Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale
Location	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Mortgage loan gains and other related fees	$	180	$	209	$	352	$	473

Schedule of Presentation of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value hierarchy and carrying value of assets that were still held as of September 30, 2024 and December 31, 2023, for which a nonrecurring fair value adjustment was recorded during the year-to-date periods presented.


(in thousands)	Level 1		Level 2		Level 3		Total
September 30, 2024
Loans held for investment	$	—	$	—	$	34,468	$	34,468
FinTrust net assets held for sale	—		—		15,586		15,586

December 31, 2023
Loans held for investment	$	—	$	—	$	36,984	$	36,984

Schedule of Carrying Amount and Fair Values for Other Financial Instruments that are not Measured at Fair Value on a Recurring Basis

The carrying amount and fair values as of the dates indicated for other financial instruments that are not measured at fair value on a recurring basis are as follows.


			Fair Value Level
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
September 30, 2024
Assets:
HTM debt securities	$	2,401,877	$	18,474	$	2,042,255	$	—	$	2,060,729
Loans and leases, net	17,758,809		—		—		17,264,089		17,264,089


Liabilities:
Deposits	23,253,102		—		23,246,658		—		23,246,658

Long-term debt	316,363		—		—		305,683		305,683

December 31, 2023
Assets:
HTM debt securities	$	2,490,848	$	17,950	$	2,077,670	$	—	$	2,095,620
Loans and leases, net	18,110,684		—		—		17,585,073		17,585,073

Liabilities:
Deposits	23,310,611		—		23,305,223		—		23,305,223

Long-term debt	324,823		—		—		310,060		310,060

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total assets	$ 27,373,132			$ 27,373,132		$ 27,297,251
Goodwill	916,153	$ 916,153	$ 919,914	916,153	$ 919,914	919,914	$ 896,718	$ 751,174
Finite-lived intangible assets, net	58,964			58,964		$ 70,173
FinTrust
Finite-Lived Intangible Assets [Line Items]
Goodwill write-down				5,100	0
Disposal Group, Held-for-Sale, Not Discontinued Operations \| FinTrust
Finite-Lived Intangible Assets [Line Items]
Goodwill write-down	0	$ 5,100	$ 0	5,100	$ 0
Total assets	16,000			16,000
Goodwill	9,060			9,060
Disposal Group, Held-for-Sale, Not Discontinued Operations \| FinTrust \| Customer Lists
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 6,020			$ 6,020

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Derivatives and Hedging Activities - Effect of Derivatives in Hedging Relationships (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value Hedging \| Interest revenue- investment securities \| Interest Revenue
Fair value hedges:
Amounts related to interest settlements on derivatives	$ 3,568	$ 3,011	$ 9,544	$ 5,321
Gain (loss) recognized on derivative	(22,144)	9,139	(12,292)	23,028
Gain (loss) recognized on hedged items	22,983	(8,382)	13,495	(23,671)
Net income recognized on AFS securities fair value hedges	4,407	3,768	10,747	4,678
Fair Value Hedging \| Interest revenue - loans, including fees \| Interest Revenue
Fair value hedges:
Amounts related to interest settlements on derivatives	3,986	0	8,949	0
Gain (loss) recognized on derivative	(27,305)	0	(21,680)	0
Gain (loss) recognized on hedged items	27,931	0	22,285	0
Net income recognized on AFS securities fair value hedges	4,612	0	9,554	0
Cash flow hedging \| Interest expense- long term debt \| Interest Expense
Fair value hedges:
Net income recognized on AFS securities fair value hedges	$ 1,441	$ 42	4,319	2,098
Premium amortization expense excluded from assessment of hedge effectiveness			$ 354	$ 348

Assets and Liabilities Measured at Fair Value

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

Fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering those assumptions, United uses a fair value hierarchy that distinguishes between assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions (unobservable inputs classified within Level 3 of the hierarchy). United has processes in place to review the significant valuation inputs and to reassess how the instruments are classified in the valuation framework.

Fair Value Hierarchy

Level 1 Valuation is based upon quoted prices (unadjusted) in active markets for identical assets or liabilities that United has the ability to access.

Level 2 Valuation is based upon quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals.

Level 3 Valuation is generated from model-based techniques that use at least one significant assumption based on unobservable inputs for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity.

In instances when the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

The following is a description of the valuation methodologies used for assets and liabilities recorded at fair value.

Investment Securities

AFS debt securities and equity securities with readily determinable fair values are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include MBS issued by GSEs, municipal bonds, corporate debt securities, asset-backed securities and supranational entity securities and are valued based on observable inputs that include: quoted market prices for similar assets, quoted market prices that are not in an active market, or other inputs that are observable in the market and can be corroborated by observable market data for substantially the full term of the securities. Securities classified as Level 3 include those traded in less liquid markets and are valued based on estimates obtained from broker-dealers that are not directly observable or models which incorporate unobservable inputs.

Deferred Compensation Plan Assets and Liabilities

Included in other assets in the consolidated balance sheet are assets purchased to provide returns mirroring those promised to participants in the employee deferred compensation plan. These assets are mutual funds classified as Level 1. Deferred compensation liabilities, also classified as Level 1, are carried at the fair value of the obligation to the participant, which mirrors the fair value of the invested assets and is included in other liabilities in the consolidated balance sheet. Deferred compensation plan liabilities are unsecured general obligations of United.

Mortgage Loans Held for Sale

United has elected the fair value option for most of its newly originated mortgage loans held for sale in order to reduce certain timing differences and better match changes in fair values of the loans with changes in the value of derivative instruments used to economically hedge them. The fair value of mortgage loans held for sale is determined using quoted prices for a similar asset, adjusted for specific attributes of that loan, and are classified as Level 2.

Derivative Financial Instruments

United uses derivatives to manage interest rate risk. The valuation of these instruments is typically determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. United also uses best effort and mandatory delivery forward loan sale commitments to hedge risk in its mortgage lending business.

United incorporates CVAs as necessary to appropriately reflect the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, United has considered the effect of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees.

Management has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy. However, the CVAs associated with these derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. Generally, management’s assessment of the significance of the CVAs has indicated that they are not a significant input to the overall valuation of the derivatives. In cases when management’s assessment indicates that the CVA is a significant input, the related derivative is disclosed as a Level 3 value. In other cases, derivatives are categorized as Level 3 when there is not an observable forward-rate curve available for the duration of the contract.

Other derivatives classified as Level 3 include structured derivatives for which broker quotes, used as a key valuation input, were not observable. Risk participation agreements are classified as Level 3 instruments due to the incorporation of significant Level 3 inputs used to evaluate the probability of funding and the likelihood of customer default. Interest rate lock commitments, which relate to mortgage loan commitments, are categorized as Level 3 instruments as the fair value of these instruments is based on unobservable inputs for commitments that United does not expect to fund.

Servicing Rights for Residential and SBA/USDA Loans

United recognizes servicing rights upon the sale of residential and SBA/USDA loans sold with servicing retained. Management has elected to carry these assets at fair value. Given the nature of these assets, the key valuation inputs are unobservable and management classifies these assets as Level 3.

Assets and Liabilities Measured at Fair Value on a Recurring Basis


(in thousands)
September 30, 2024	Level 1		Level 2		Level 3		Total
Assets:
AFS debt securities:
U.S. Treasuries	$	535,986	$	—	$	—	$	535,986
U.S. Government agencies & GSEs	—		351,807		—		351,807
State and political subdivisions	—		163,604		—		163,604
Residential MBS	—		1,731,364		—		1,731,364
Commercial MBS	—		886,683		—		886,683
Corporate bonds	—		193,294		2,226		195,520
Asset-backed securities	—		158,491		—		158,491
Equity securities with readily determinable fair values	5,794		2,100		—		7,894
Mortgage loans held for sale	—		49,800		—		49,800
Deferred compensation plan assets	14,459		—		—		14,459
Servicing rights for SBA/USDA loans	—		—		4,937		4,937
Residential mortgage servicing rights	—		—		35,378		35,378
Derivative financial instruments	—		31,973		10,155		42,128
Total assets	$	556,239	$	3,569,116	$	52,696	$	4,178,051

Liabilities:
Deferred compensation plan liability	$	14,454	$	—	$	—	$	14,454
Derivative financial instruments	—		54,037		10,557		64,594

Total liabilities	$	14,454	$	54,037	$	10,557	$	79,048


(in thousands)
December 31, 2023	Level 1		Level 2		Level 3		Total
Assets:
AFS debt securities:
U.S. Treasuries	$	387,349	$	—	$	—	$	387,349
U.S. Government agencies & GSEs	—		267,500		—		267,500
State and political subdivisions	—		164,049		—		164,049
Residential MBS	—		1,507,598		—		1,507,598
Commercial MBS	—		641,654		—		641,654
Corporate bonds	—		199,017		2,205		201,222
Asset-backed securities	—		161,712		—		161,712
Equity securities with readily determinable fair values	5,767		1,628		—		7,395
Mortgage loans held for sale	—		33,008		—		33,008
Deferred compensation plan assets	12,791		—		—		12,791
Servicing rights for SBA/USDA loans	—		—		5,444		5,444
Residential mortgage servicing rights	—		—		35,897		35,897
Derivative financial instruments	—		39,710		10,642		50,352
Total assets	$	405,907	$	3,015,876	$	54,188	$	3,475,971

Liabilities:
Deferred compensation plan liability	$	12,838	$	—	$	—	$	12,838
Derivative financial instruments	—		73,639		11,172		84,811
Total liabilities	$	12,838	$	73,639	$	11,172	$	97,649


	2024										2023
(in thousands)	Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds		Derivative Assets		Derivative Liabilities		SBA/USDA loan servicing rights		Residential mortgage servicing rights		Corporate Bonds
Three Months Ended September 30,
Beginning balance	$	12,933	$	13,313	$	5,247	$	38,014	$	2,197	$	11,872	$	12,564	$	6,148	$	37,194	$	2,183

Additions	1,274		58		235		1,091		—		—		—		525		826		—

Sales and settlements	(2,064)		—		(197)		(1,095)		—		—		—		(418)		(534)		—
Fair value adjustments included in OCI	—		—		—		—		29		—		—		—		—		(4)
Fair value adjustments included in earnings	(1,988)		(2,814)		(348)		(2,632)		—		1,207		1,074		(824)		748		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

Nine Months Ended September 30,
Beginning balance	$	10,642	$	11,172	$	5,444	$	35,897	$	2,205	$	11,513	$	12,840	$	5,188	$	36,559	$	2,212
Business combinations	—		—		—		—		—		—		—		95		—		—
Additions	4,102		58		750		2,869		—		—		170		1,449		2,306		—

Transfers from Level 2	484		925		—		—		—		—		—		—		—		—
Sales and settlements	(4,381)		—		(751)		(2,892)		—		(11)		—		(869)		(1,482)		—
Fair value adjustments included in OCI	—		—		—		—		21		—		—		—		—		(33)
Fair value adjustments included in earnings	(692)		(1,598)		(506)		(496)		—		1,577		628		(432)		851		—
Ending balance	$	10,155	$	10,557	$	4,937	$	35,378	$	2,226	$	13,079	$	13,638	$	5,431	$	38,234	$	2,179

The following table presents quantitative information about significant Level 3 inputs for fair value on a recurring basis as of the dates indicated.


Level 3 Assets and Liabilities	Valuation Technique	Significant Unobservable Inputs	September 30, 2024			December 31, 2023
			Range	Weighted Average		Range	Weighted Average
SBA/USDA loan servicing rights	Discounted cash flow	Discount rate	4.8% - 23.5%	11.8	%	8.4% - 25.0%	16.2	%
		Prepayment rate	0.1 - 39.8	20.2		3.5 - 37.4	18.5
Residential mortgage servicing rights	Discounted cash flow	Discount rate	10.0 - 12.5	10.0		10.0 - 15.0	10.0
		Prepayment rate	6.5 - 77.7	8.7		6.5 - 29.9	8.0
Corporate bonds	Discounted cash flow	Discount rate	5.7 - 6.4	6.2		6.1 - 6.7	6.5


Derivative assets - mortgage	Internal model	Pull through rate	73.0 - 100	91.1		60.0 - 100	90.5
Derivative assets and liabilities - other	Dealer priced	Dealer priced	N/A	N/A		N/A	N/A

Fair Value Option

United generally records mortgage loans held for sale at fair value under the fair value option. Interest income on these loans is calculated based on the note rate of the loan and is recorded in interest revenue. The following tables present the fair value and outstanding principal balance of loans accounted for under the fair value option, as well as the gain or loss recognized from the change in fair value for the periods indicated.


Mortgage Loans Held for Sale
(in thousands)	September 30, 2024		December 31, 2023
Outstanding principal balance	$	48,228	$	31,788
Fair value	49,800		33,008


Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale
Location	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Mortgage loan gains and other related fees	$	180	$	209	$	352	$	473

Changes in fair value were mostly offset by hedging activities. An immaterial portion of these amounts was attributable to changes in instrument-specific credit risk.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

United may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from the application of the lower of the amortized cost or fair value accounting or write-downs of individual assets due to impairment. The following table presents the fair value hierarchy and carrying value of assets that were still held as of September 30, 2024 and December 31, 2023, for which a nonrecurring fair value adjustment was recorded during the year-to-date periods presented.


(in thousands)	Level 1		Level 2		Level 3		Total
September 30, 2024
Loans held for investment	$	—	$	—	$	34,468	$	34,468
FinTrust net assets held for sale	—		—		15,586		15,586

December 31, 2023
Loans held for investment	$	—	$	—	$	36,984	$	36,984

Loans held for investment that are reported above as being measured at fair value on a nonrecurring basis are generally impaired loans that have either been partially charged off or have specific reserves assigned to them. Nonaccrual loans that are collateral dependent are generally written down to net realizable value, which reflects fair value less the estimated costs to sell. Specific reserves that are established based on appraised value of collateral are considered nonrecurring fair value adjustments as well. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, United records the impaired loan as nonrecurring Level 3.

In June 2024, the net assets of FinTrust were transferred to held for sale and therefore were carried at fair value, less cost to sell as of September 30, 2024. The fair value, less cost to sell was based on a probability-weighted discounted cash flow valuation of the consideration included in a sales contract executed in June 2024, which resulted in a $5.10 million write-down to the goodwill associated with FinTrust recorded during the second quarter of 2024. The valuation of the disposal group is categorized as Level 3 as significant unobservable inputs, most notably the probability assessment of realizing revenue-related contingent consideration, were used in the determination of fair value. The sale of FinTrust was completed subsequent to the end of the third quarter on October 1, 2024.

Assets and Liabilities Not Measured at Fair Value

For financial instruments that have quoted market prices, those quotes are used to determine fair value. Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate, are assumed to have a fair value that approximates reported book value, after taking into consideration any applicable credit risk. If no market quotes are available, financial instruments are valued by discounting the expected cash flows using an estimated current market interest rate for the financial instrument. For off-balance sheet derivative instruments, fair value is estimated as the amount that United would receive or pay to terminate the contracts at the reporting date, taking into account the current unrealized gains or losses on open contracts.

Cash and cash equivalents and repurchase agreements have short maturities and therefore the carrying value approximates fair value. Due to the short-term settlement of accrued interest receivable and payable, the carrying amount closely approximates fair value.

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect the premium or discount on any particular financial instrument that could result from the sale of United’s entire holdings. All estimates are inherently subjective in nature. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and

liabilities that are not considered financial instruments include the mortgage banking operation, brokerage network, deferred income taxes, premises and equipment and goodwill. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Off-balance sheet instruments (commitments to extend credit and standby letters of credit) for which draws can be reasonably predicted are generally short-term in maturity and are priced at variable rates. Therefore, the estimated fair values associated with these instruments are immaterial.

The carrying amount and fair values as of the dates indicated for other financial instruments that are not measured at fair value on a recurring basis are as follows.


			Fair Value Level
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
September 30, 2024
Assets:
HTM debt securities	$	2,401,877	$	18,474	$	2,042,255	$	—	$	2,060,729
Loans and leases, net	17,758,809		—		—		17,264,089		17,264,089


Liabilities:
Deposits	23,253,102		—		23,246,658		—		23,246,658

Long-term debt	316,363		—		—		305,683		305,683

December 31, 2023
Assets:
HTM debt securities	$	2,490,848	$	17,950	$	2,077,670	$	—	$	2,095,620
Loans and leases, net	18,110,684		—		—		17,585,073		17,585,073

Liabilities:
Deposits	23,310,611		—		23,305,223		—		23,305,223

Long-term debt	324,823		—		—		310,060		310,060

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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-Topic 820
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Measurement period (in year)		1 year
Goodwill	$ 916,153		$ 919,914	$ 916,153	$ 919,914	$ 916,153	$ 919,914	$ 896,718	$ 751,174
Decrease in other assets		$ 2,060
Decrease in other liabilities		726
Goodwill, period increase		1,340
Merger-related and other charges	2,176		9,168	6,420	21,444
First Miami Bancorp, Inc
Business Acquisition [Line Items]
Other assets		18,800
Other liabilities		16,900
Goodwill		$ 24,500
Goodwill, period increase	$ 0		0	$ 1,339	0
First Miami Bancorp, Inc \| Merger-related costs
Business Acquisition [Line Items]
Merger-related and other charges			6,530		6,910
Progress \| Merger-related costs
Business Acquisition [Line Items]
Merger-related and other charges			$ 182		$ 9,960

Derivatives and Hedging Activities - Carrying Amount and Cumulative Fair Value Hedging Adjustments on Hedged Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Hedge Accounting Basis Adjustment	$ 24,177	$ 1,893
Fair Value Hedging \| Debt Securities AFS
Derivative [Line Items]
Hedged Portfolio Layer	830,955	655,511
Fair Value Hedging \| Loans and leases held for investment
Derivative [Line Items]
Hedged Portfolio Layer	1,650,000	150,000
Fair Value Hedging \| Debt Securities AFS
Derivative [Line Items]
Carrying Amount	1,010,045	789,908
Hedge Accounting Basis Adjustment	8,822	(4,673)
Fair Value Hedging \| Loans and leases held for investment
Derivative [Line Items]
Carrying Amount	4,799,235	1,017,379
Hedge Accounting Basis Adjustment	$ 24,178	$ 1,893

Investment Securities

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Investment Securities

The amortized cost basis, unrealized gains and losses and fair value of HTM debt securities as of the dates indicated are as follows.


(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
As of September 30, 2024
U.S. Treasuries	$	19,888	$	—	$	1,414	$	18,474
U.S. Government agencies & GSEs	99,090		—		12,811		86,279
State and political subdivisions	290,980		88		45,434		245,634
Residential MBS, Agency & GSEs	1,306,953		28		175,510		1,131,471

Commercial MBS, Agency & GSEs	669,966		—		103,952		566,014

Supranational entities	15,000		—		2,143		12,857
Total	$	2,401,877	$	116	$	341,264	$	2,060,729

As of December 31, 2023
U.S. Treasuries	$	19,864	$	—	$	1,914	$	17,950
U.S. Government agencies & GSEs	99,052		—		15,689		83,363
State and political subdivisions	292,705		171		50,437		242,439
Residential MBS, Agency & GSEs	1,383,294		24		206,344		1,176,974

Commercial MBS, Agency & GSEs	680,933		—		118,539		562,394

Supranational entities	$	15,000	$	—	$	2,500	$	12,500
Total	$	2,490,848	$	195	$	395,423	$	2,095,620

The amortized cost basis, unrealized gains and losses, and fair value of AFS debt securities as of the dates indicated are presented below.


(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
As of September 30, 2024
U.S. Treasuries	$	540,851	$	2,604	$	7,469	$	535,986
U.S. Government agencies & GSEs	362,749		383		11,325		351,807
State and political subdivisions	177,892		1		14,289		163,604
Residential MBS, Agency & GSEs	1,523,253		1,714		96,633		1,428,334
Residential MBS, Non-agency	317,497		48		14,515		303,030
Commercial MBS, Agency & GSEs	892,934		7,636		29,648		870,922
Commercial MBS, Non-agency	16,044		—		283		15,761
Corporate bonds	206,674		126		11,280		195,520
Asset-backed securities	159,402		89		1,000		158,491
Total	$	4,197,296	$	12,601	$	186,442	$	4,023,455

As of December 31, 2023
U.S. Treasuries	$	398,021	$	39	$	10,711	$	387,349
U.S. Government agencies & GSEs	281,708		269		14,477		267,500
State and political subdivisions	182,546		5		18,502		164,049
Residential MBS, Agency & GSEs	1,315,064		300		125,012		1,190,352
Residential MBS, Non-agency	339,330		—		22,084		317,246
Commercial MBS, Agency & GSEs	656,004		1,073		39,017		618,060
Commercial MBS, Non-agency	24,269		—		675		23,594
Corporate bonds	218,285		64		17,127		201,222
Asset-backed securities	164,728		—		3,016		161,712
Total	$	3,579,955	$	1,750	$	250,621	$	3,331,084

As of September 30, 2024 and December 31, 2023 the carrying value of pledged securities totaled $2.64 billion and $4.12 billion, respectively. At September 30, 2024 securities were pledged primarily to secure public deposits. At December 31, 2023 securities were pledged to secure public deposits and provide contingent liquidity through the Bank Term Funding Program at the FRB, a

program that was discontinued in the first quarter of 2024.

The following table summarizes the fair values and gross unrealized losses of HTM debt securities as of the dates indicated based on the length of time that individual securities have been in a continuous unrealized loss position.


	Length of Time in Unrealized Loss Position
	Less than 12 Months				12 Months or More				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
As of September 30, 2024
U.S. Treasuries	$	—	$	—	$	18,474	$	1,414	$	18,474	$	1,414
U.S. Government agencies & GSEs	—		—		86,280		12,811		86,280		12,811
State and political subdivisions	6,191		34		223,270		45,400		229,461		45,434
Residential MBS, Agency & GSEs	6,098		1,600		1,123,874		173,910		1,129,972		175,510

Commercial MBS, Agency & GSEs	—		—		566,013		103,952		566,013		103,952

Supranational entities	—		—		12,857		2,143		12,857		2,143
Total	$	12,289	$	1,634	$	2,030,768	$	339,630	$	2,043,057	$	341,264

As of December 31, 2023
U.S. Treasuries	$	—	$	—	$	17,951	$	1,914	$	17,951	$	1,914
U.S. Government agencies & GSEs	—		—		83,363		15,689		83,363		15,689
State and political subdivisions	2,986		13		217,547		50,424		220,533		50,437
Residential MBS, Agency & GSEs	311		2		1,175,263		206,342		1,175,574		206,344

Commercial MBS, Agency & GSEs	6,533		115		555,861		118,424		562,394		118,539

Supranational entities	—		—		12,500		2,500		12,500		2,500
Total	$	9,830	$	130	$	2,062,485	$	395,293	$	2,072,315	$	395,423

The following table summarizes the fair values and gross unrealized losses of AFS debt securities as of the dates indicated based on the length of time that individual securities have been in a continuous unrealized loss position.


	Length of Time in Unrealized Loss Position
	Less than 12 Months				12 Months or More				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
As of September 30, 2024
U.S. Treasuries	$	—	$	—	$	106,903	$	7,469	$	106,903	$	7,469
U.S. Government agencies & GSEs	55,534		185		182,580		11,140		238,114		11,325
State and political subdivisions	—		—		162,846		14,289		162,846		14,289
Residential MBS, Agency & GSEs	126,406		383		1,025,209		96,250		1,151,615		96,633
Residential MBS, Non-agency	—		—		291,040		14,515		291,040		14,515
Commercial MBS, Agency & GSEs	32,438		37		381,856		29,611		414,294		29,648
Commercial MBS, Non-agency	—		—		15,760		283		15,760		283
Corporate bonds	1,458		42		192,116		11,238		193,574		11,280
Asset-backed securities	30,258		139		87,893		861		118,151		1,000
Total	$	246,094	$	786	$	2,446,203	$	185,656	$	2,692,297	$	186,442

As of December 31, 2023
U.S. Treasuries	$	100,369	$	39	$	103,535	$	10,672	$	203,904	$	10,711
U.S. Government agencies & GSEs	41,960		141		184,184		14,336		226,144		14,477
State and political subdivisions	—		—		163,278		18,502		163,278		18,502
Residential MBS, Agency & GSEs	50,014		672		1,108,290		124,340		1,158,304		125,012
Residential MBS, Non-agency	—		—		317,247		22,084		317,247		22,084
Commercial MBS, Agency & GSEs	98,052		2,494		342,390		36,523		440,442		39,017
Commercial MBS, Non-agency	—		—		23,594		675		23,594		675
Corporate bonds	4,016		116		195,329		17,011		199,345		17,127
Asset-backed securities	11,855		53		149,857		2,963		161,712		3,016
Total	$	306,266	$	3,515	$	2,587,704	$	247,106	$	2,893,970	$	250,621

At September 30, 2024, there were 594 AFS debt securities and 302 HTM debt securities that were in an unrealized loss position. United does not intend to sell nor does it believe it will be required to sell securities in an unrealized loss position prior to the recovery of their amortized cost basis. Unrealized losses at September 30, 2024 were primarily attributable to changes in interest rates.

At September 30, 2024 and December 31, 2023, estimated credit losses and, thus, the related ACL on HTM debt securities were de minimis due to the high credit quality of the portfolio, which included securities issued or guaranteed by U.S. Government agencies, GSEs, high credit quality municipalities and supranational entities. As a result, no ACL was recorded on the HTM portfolio at September 30, 2024 or December 31, 2023. In addition, based on the assessments performed at September 30, 2024 and December 31, 2023, there was no ACL required related to the AFS portfolio.

The following table presents accrued interest receivable on HTM and AFS debt securities, which was excluded from the estimate of credit losses, for the periods indicated.



	Accrued Interest Receivable
(in thousands)	September 30, 2024		December 31, 2023
HTM	$	5,564	$	6,143
AFS	17,052		12,568

The amortized cost and fair value of AFS and HTM debt securities at September 30, 2024, by contractual maturity, are presented in the following table.


	AFS				HTM
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within 1 year:
U.S. Treasuries	$	227,430	$	227,725	$	—	$	—
U.S. Government agencies & GSEs	617		604		—		—
State and political subdivisions	4,071		4,026		3,701		3,710
Corporate bonds	26,708		26,276		—		—

	258,826		258,631		3,701		3,710
1 to 5 years:
U.S. Treasuries	313,421		308,261		19,888		18,474
U.S. Government agencies & GSEs	48,685		45,861		—		—
State and political subdivisions	36,189		33,623		27,701		26,498
Corporate bonds	139,442		132,341		—		—

	537,737		520,086		47,589		44,972
5 to 10 years:

U.S. Government agencies & GSEs	191,201		186,757		75,330		66,216
State and political subdivisions	60,042		53,187		52,206		45,561
Corporate bonds	39,708		35,978		—		—
Supranational entities	—		—		15,000		12,857
	290,951		275,922		142,536		124,634
More than 10 years:
U.S. Government agencies & GSEs	122,246		118,585		23,760		20,063
State and political subdivisions	77,590		72,768		207,372		169,865
Corporate bonds	816		925		—		—

	200,652		192,278		231,132		189,928
Debt securities not due at a single maturity date:
Asset-backed securities	159,402		158,491		—		—
Residential MBS	1,840,750		1,731,364		1,306,953		1,131,471
Commercial MBS	908,978		886,683		669,966		566,014
	2,909,130		2,776,538		1,976,919		1,697,485

Total	$	4,197,296	$	4,023,455	$	2,401,877	$	2,060,729

Expected maturities may differ from contractual maturities because issuers and borrowers may have the right to call or prepay obligations.

Realized gains and losses are derived using the specific identification method for determining the cost of securities sold. The following table summarizes AFS securities sales activity for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Proceeds from sales	$	—	$	214,573	$	647	$	595,234

Gross realized gains	$	—	$	—	$	—	$	1,373
Gross realized losses	—		—		—		(3,017)

Securities losses, net	$	—	$	—	$	—	$	(1,644)

Income tax benefit attributable to sales	$	—	$	—	$	—	$	(374)

Equity Investments

The table below reflects the carrying value of certain equity investments, which are included in other assets on the consolidated balance sheet, as of the dates indicated.


(in thousands)	September 30, 2024		December 31, 2023
FHLB Stock	$	18,051	$	18,104
FRB Stock	88,008		—
Equity securities with readily determinable fair values	7,894		7,395

Loans and Leases and Allowance for Credit Losses - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) extension	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in leases	$ 84,234	$ 84,234		$ 68,921
Manufactured housing loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain (loss) on sale of financing receivable	(27,200)
Commercial \| Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
ACL loans	$ 75,400	$ 75,400		48,500
Commercial \| Commercial & industrial \| Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Extended weighted average maturity		1 year 1 month 6 days
Commercial \| Commercial & industrial \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment deferral period	7 months	7 months
Commercial \| Income producing CRE \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment deferral period	1 year 6 months	1 year 6 months
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 59,500	$ 59,500		$ 67,000
Loans Receivable \| Commercial \| Commercial & industrial \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, loans In bankruptcy status modified during period			$ 2,860
Payment deferral period			3 months
Loans Receivable \| Commercial \| Equipment financing \| Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of extensions \| extension			1
Extension from modification			3 months
Financing receivable, modified, weighted average extension term granted			13 months
Loans Receivable \| Commercial \| Income producing CRE \| Rate Reduction and Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in the weighted average interest rate			1.58%
Extended weighted average maturity			2 years
Loans Receivable \| Commercial \| Residential Mortgage and Manufactured Housing \| Rate Reduction and Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in the weighted average interest rate			5.62%
Extended weighted average maturity			17 years 6 months

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost Basis, Unrealized Gains and Losses and Fair Value of HTM Debt Securities

The amortized cost basis, unrealized gains and losses and fair value of HTM debt securities as of the dates indicated are as follows.


(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
As of September 30, 2024
U.S. Treasuries	$	19,888	$	—	$	1,414	$	18,474
U.S. Government agencies & GSEs	99,090		—		12,811		86,279
State and political subdivisions	290,980		88		45,434		245,634
Residential MBS, Agency & GSEs	1,306,953		28		175,510		1,131,471

Commercial MBS, Agency & GSEs	669,966		—		103,952		566,014

Supranational entities	15,000		—		2,143		12,857
Total	$	2,401,877	$	116	$	341,264	$	2,060,729

As of December 31, 2023
U.S. Treasuries	$	19,864	$	—	$	1,914	$	17,950
U.S. Government agencies & GSEs	99,052		—		15,689		83,363
State and political subdivisions	292,705		171		50,437		242,439
Residential MBS, Agency & GSEs	1,383,294		24		206,344		1,176,974

Commercial MBS, Agency & GSEs	680,933		—		118,539		562,394

Supranational entities	$	15,000	$	—	$	2,500	$	12,500
Total	$	2,490,848	$	195	$	395,423	$	2,095,620

Schedule of Amortized Cost Basis, Unrealized Gains and Losses and Fair Value of AFS Debt Securities

The amortized cost basis, unrealized gains and losses, and fair value of AFS debt securities as of the dates indicated are presented below.


(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
As of September 30, 2024
U.S. Treasuries	$	540,851	$	2,604	$	7,469	$	535,986
U.S. Government agencies & GSEs	362,749		383		11,325		351,807
State and political subdivisions	177,892		1		14,289		163,604
Residential MBS, Agency & GSEs	1,523,253		1,714		96,633		1,428,334
Residential MBS, Non-agency	317,497		48		14,515		303,030
Commercial MBS, Agency & GSEs	892,934		7,636		29,648		870,922
Commercial MBS, Non-agency	16,044		—		283		15,761
Corporate bonds	206,674		126		11,280		195,520
Asset-backed securities	159,402		89		1,000		158,491
Total	$	4,197,296	$	12,601	$	186,442	$	4,023,455

As of December 31, 2023
U.S. Treasuries	$	398,021	$	39	$	10,711	$	387,349
U.S. Government agencies & GSEs	281,708		269		14,477		267,500
State and political subdivisions	182,546		5		18,502		164,049
Residential MBS, Agency & GSEs	1,315,064		300		125,012		1,190,352
Residential MBS, Non-agency	339,330		—		22,084		317,246
Commercial MBS, Agency & GSEs	656,004		1,073		39,017		618,060
Commercial MBS, Non-agency	24,269		—		675		23,594
Corporate bonds	218,285		64		17,127		201,222
Asset-backed securities	164,728		—		3,016		161,712
Total	$	3,579,955	$	1,750	$	250,621	$	3,331,084

Schedule of HTM Debt Securities in an Unrealized Loss Position


	Length of Time in Unrealized Loss Position
	Less than 12 Months				12 Months or More				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
As of September 30, 2024
U.S. Treasuries	$	—	$	—	$	18,474	$	1,414	$	18,474	$	1,414
U.S. Government agencies & GSEs	—		—		86,280		12,811		86,280		12,811
State and political subdivisions	6,191		34		223,270		45,400		229,461		45,434
Residential MBS, Agency & GSEs	6,098		1,600		1,123,874		173,910		1,129,972		175,510

Commercial MBS, Agency & GSEs	—		—		566,013		103,952		566,013		103,952

Supranational entities	—		—		12,857		2,143		12,857		2,143
Total	$	12,289	$	1,634	$	2,030,768	$	339,630	$	2,043,057	$	341,264

As of December 31, 2023
U.S. Treasuries	$	—	$	—	$	17,951	$	1,914	$	17,951	$	1,914
U.S. Government agencies & GSEs	—		—		83,363		15,689		83,363		15,689
State and political subdivisions	2,986		13		217,547		50,424		220,533		50,437
Residential MBS, Agency & GSEs	311		2		1,175,263		206,342		1,175,574		206,344

Commercial MBS, Agency & GSEs	6,533		115		555,861		118,424		562,394		118,539

Supranational entities	—		—		12,500		2,500		12,500		2,500
Total	$	9,830	$	130	$	2,062,485	$	395,293	$	2,072,315	$	395,423

Schedule of AFS Debt Securities in an Unrealized Loss Position


	Length of Time in Unrealized Loss Position
	Less than 12 Months				12 Months or More				Total
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
As of September 30, 2024
U.S. Treasuries	$	—	$	—	$	106,903	$	7,469	$	106,903	$	7,469
U.S. Government agencies & GSEs	55,534		185		182,580		11,140		238,114		11,325
State and political subdivisions	—		—		162,846		14,289		162,846		14,289
Residential MBS, Agency & GSEs	126,406		383		1,025,209		96,250		1,151,615		96,633
Residential MBS, Non-agency	—		—		291,040		14,515		291,040		14,515
Commercial MBS, Agency & GSEs	32,438		37		381,856		29,611		414,294		29,648
Commercial MBS, Non-agency	—		—		15,760		283		15,760		283
Corporate bonds	1,458		42		192,116		11,238		193,574		11,280
Asset-backed securities	30,258		139		87,893		861		118,151		1,000
Total	$	246,094	$	786	$	2,446,203	$	185,656	$	2,692,297	$	186,442

As of December 31, 2023
U.S. Treasuries	$	100,369	$	39	$	103,535	$	10,672	$	203,904	$	10,711
U.S. Government agencies & GSEs	41,960		141		184,184		14,336		226,144		14,477
State and political subdivisions	—		—		163,278		18,502		163,278		18,502
Residential MBS, Agency & GSEs	50,014		672		1,108,290		124,340		1,158,304		125,012
Residential MBS, Non-agency	—		—		317,247		22,084		317,247		22,084
Commercial MBS, Agency & GSEs	98,052		2,494		342,390		36,523		440,442		39,017
Commercial MBS, Non-agency	—		—		23,594		675		23,594		675
Corporate bonds	4,016		116		195,329		17,011		199,345		17,127
Asset-backed securities	11,855		53		149,857		2,963		161,712		3,016
Total	$	306,266	$	3,515	$	2,587,704	$	247,106	$	2,893,970	$	250,621

Schedule of Accrued Interest Receivable

The following table presents accrued interest receivable on HTM and AFS debt securities, which was excluded from the estimate of credit losses, for the periods indicated.



	Accrued Interest Receivable
(in thousands)	September 30, 2024		December 31, 2023
HTM	$	5,564	$	6,143
AFS	17,052		12,568

Schedule of Amortized Cost and Fair Value of AFS and HTM Securities by Contractual Maturity

The amortized cost and fair value of AFS and HTM debt securities at September 30, 2024, by contractual maturity, are presented in the following table.


	AFS				HTM
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within 1 year:
U.S. Treasuries	$	227,430	$	227,725	$	—	$	—
U.S. Government agencies & GSEs	617		604		—		—
State and political subdivisions	4,071		4,026		3,701		3,710
Corporate bonds	26,708		26,276		—		—

	258,826		258,631		3,701		3,710
1 to 5 years:
U.S. Treasuries	313,421		308,261		19,888		18,474
U.S. Government agencies & GSEs	48,685		45,861		—		—
State and political subdivisions	36,189		33,623		27,701		26,498
Corporate bonds	139,442		132,341		—		—

	537,737		520,086		47,589		44,972
5 to 10 years:

U.S. Government agencies & GSEs	191,201		186,757		75,330		66,216
State and political subdivisions	60,042		53,187		52,206		45,561
Corporate bonds	39,708		35,978		—		—
Supranational entities	—		—		15,000		12,857
	290,951		275,922		142,536		124,634
More than 10 years:
U.S. Government agencies & GSEs	122,246		118,585		23,760		20,063
State and political subdivisions	77,590		72,768		207,372		169,865
Corporate bonds	816		925		—		—

	200,652		192,278		231,132		189,928
Debt securities not due at a single maturity date:
Asset-backed securities	159,402		158,491		—		—
Residential MBS	1,840,750		1,731,364		1,306,953		1,131,471
Commercial MBS	908,978		886,683		669,966		566,014
	2,909,130		2,776,538		1,976,919		1,697,485

Total	$	4,197,296	$	4,023,455	$	2,401,877	$	2,060,729

Schedule of AFS Securities Sales Activity

The following table summarizes AFS securities sales activity for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Proceeds from sales	$	—	$	214,573	$	647	$	595,234

Gross realized gains	$	—	$	—	$	—	$	1,373
Gross realized losses	—		—		—		(3,017)

Securities losses, net	$	—	$	—	$	—	$	(1,644)

Income tax benefit attributable to sales	$	—	$	—	$	—	$	(374)

Schedule of Equity Method Investments

The table below reflects the carrying value of certain equity investments, which are included in other assets on the consolidated balance sheet, as of the dates indicated.


(in thousands)	September 30, 2024		December 31, 2023
FHLB Stock	$	18,051	$	18,104
FRB Stock	88,008		—
Equity securities with readily determinable fair values	7,894		7,395

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

+ Details

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation United’s accounting and financial reporting policies conform to GAAP and reporting guidelines of banking regulatory authorities. The accompanying interim consolidated financial statements have not been audited. All material intercompany balances and transactions have been eliminated. A more detailed description of United’s accounting policies is included in its 2023 10-K. In management’s opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments are normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim periods. The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in United’s 2023 10-K. In May 2024, United officially moved its Holding Company headquarters from Blairsville, Georgia to Greenville, South Carolina. Effective in June 2024, the Bank changed its primary federal regulator from the FDIC to the Federal Reserve. Effective August 6, 2024, United transferred the listing of its securities from NASDAQ to the New York Stock Exchange. The common shares are now listed under the trading symbol UCB and the preferred Series I depositary shares are now listed under the trading symbol UCB PRI.
Revision of Previously Issued Financial Statements	Revision of Previously Issued Financial Statements During the second quarter of 2024, management corrected an immaterial error related to the loan vintage disclosure reported in previously issued financial statements for the period presented in the 2023 10-K. The revised December 31, 2023 loan vintage disclosure was included in United’s second quarter Form 10-Q and is included in this Form 10-Q as well. The error relates to the incorrect determination of the vintage year for a population of term loans and gross charge-offs. The correction of this error resulted in the reclassification of certain term loans and gross charge-offs to older vintage categories than originally reported. The correction of this error did not result in any reclassification between risk categories presented. The revision did not change the total amount of loans or gross charge-offs reported and did not affect the Company's net income, cash flows or equity. We evaluated the aggregate effects of this error to our previously issued financial statements in accordance with SEC Staff Accounting Bulletins No. 99 and No. 108 and, based upon quantitative and qualitative factors, determined that the error was not material to the previously issued financial statements and disclosures included in our 2023 10-K.
Recently Adopted Accounting Standards	In March 2023, the FASB issued ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. The update broadens the application of PAM and related disclosures to tax equity investments other than LIHTC, providing certain conditions are met. The election to apply PAM must be made on a tax-credit-program by tax-credit-program basis rather than at the reporting entity level or to individual investments. United adopted this update using a modified retrospective transition method as of January 1, 2024, with no impact to shareholders’ equity.

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income	$ 176,593	$ 173,454
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	31,547	34,027
Provision for credit losses	39,562	74,804
Stock based compensation	7,730	7,093
Deferred income tax expense	3,133	14,645
Securities losses, net	0	1,644
Net losses (gains) from sales of other loans	22,867	(6,909)
Changes in assets and liabilities:
Other assets	(21,152)	(16,935)
Accrued expenses and other liabilities	(46,946)	11,796
Loans held for sale	(16,792)	(21,423)
Net cash provided by operating activities	201,642	272,196
Debt securities held-to-maturity:
Proceeds from maturities and calls	93,491	100,396
Debt securities available-for-sale:
Proceeds from sales	647	595,234
Proceeds from maturities and calls	475,742	421,924
Purchases	(1,069,559)	(295,054)
Net decrease (increase) in loans	316,837	(875,223)
Payments for other investments	(102,032)	(134,439)
Proceeds from other investments	2,417	124,056
Proceeds from sales of premises and equipment	631	2,529
Purchases of premises and equipment	(41,505)	(59,157)
Net cash received in acquisition	0	207,566
Net cash paid for branch disposal	0	(93,613)
Other investing inflows	12,911	3,413
Net cash used in investing activities	(310,420)	(2,368)
Financing activities:
Net (decrease) increase in deposits	(58,291)	886,440
Net decrease in short-term borrowings	0	(310,267)
Repayment of long-term debt	(8,557)	0
Proceeds from FHLB advances	1,100	2,225,000
Repayment of FHLB advances	(1,100)	(2,870,000)
Cash dividends on common stock	(83,269)	(77,352)
Cash dividends on preferred stock	(4,719)	(5,062)
Other financing inflows	1,993	5,405
Other financing outflows	(2,215)	(11,340)
Net cash used in financing activities	(155,058)	(157,176)
Net change in cash and cash equivalents	(263,836)	112,652
Cash and cash equivalents, beginning of period	1,003,875	646,853
Cash and cash equivalents, end of period	740,039	759,505
FinTrust
Adjustments to reconcile net income to net cash provided by operating activities:
FinTrust goodwill write-down	$ 5,100	$ 0

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Computation of basic and diluted earnings per share
Net income	$ 47,347	$ 47,866	$ 176,593	$ 173,454
Dividends on preferred stock	(1,573)	(1,624)	(4,719)	(5,062)
Discount on preferred shares repurchased	0	792	0	792
Earnings allocated to participating securities	(272)	(259)	(988)	(939)
Net income available to common shareholders, basic	45,502	46,775	170,886	168,245
Net income available to common shareholders, diluted	$ 45,502	$ 46,775	$ 170,886	$ 168,245
Weighted average shares outstanding:
Basic (in shares)	119,818	119,506	119,736	116,925
Effect of dilutive securities:
Diluted (in shares)	119,952	119,624	119,827	117,084
Net income per common share:
Basic (in dollars per share)	$ 0.38	$ 0.39	$ 1.43	$ 1.44
Diluted (in dollars per share)	$ 0.38	$ 0.39	$ 1.43	$ 1.44
Stock options
Effect of dilutive securities:
Restricted stock units (in shares)	84	95	75	141
Restricted stock units
Effect of dilutive securities:
Restricted stock units (in shares)	50	23	16	18

Investment Securities - Amortized Cost Basis, Unrealized Gains and Losses and Fair Value of AFS Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
AFS debt securities:
Amortized Cost	$ 4,197,296	$ 3,579,955
Gross Unrealized Gains	12,601	1,750
Gross Unrealized Losses	186,442	250,621
Fair Value	4,023,455	3,331,084
U.S. Treasuries
AFS debt securities:
Amortized Cost	540,851	398,021
Gross Unrealized Gains	2,604	39
Gross Unrealized Losses	7,469	10,711
Fair Value	535,986	387,349
U.S. Government agencies & GSEs
AFS debt securities:
Amortized Cost	362,749	281,708
Gross Unrealized Gains	383	269
Gross Unrealized Losses	11,325	14,477
Fair Value	351,807	267,500
State and political subdivisions
AFS debt securities:
Amortized Cost	177,892	182,546
Gross Unrealized Gains	1	5
Gross Unrealized Losses	14,289	18,502
Fair Value	163,604	164,049
Residential MBS, Agency & GSEs
AFS debt securities:
Amortized Cost	1,523,253	1,315,064
Gross Unrealized Gains	1,714	300
Gross Unrealized Losses	96,633	125,012
Fair Value	1,428,334	1,190,352
Residential MBS, Non-agency
AFS debt securities:
Amortized Cost	317,497	339,330
Gross Unrealized Gains	48	0
Gross Unrealized Losses	14,515	22,084
Fair Value	303,030	317,246
Commercial MBS, Agency & GSEs
AFS debt securities:
Amortized Cost	892,934	656,004
Gross Unrealized Gains	7,636	1,073
Gross Unrealized Losses	29,648	39,017
Fair Value	870,922	618,060
Commercial MBS, Non-agency
AFS debt securities:
Amortized Cost	16,044	24,269
Gross Unrealized Gains	0	0
Gross Unrealized Losses	283	675
Fair Value	15,761	23,594
Corporate bonds
AFS debt securities:
Amortized Cost	206,674	218,285
Gross Unrealized Gains	126	64
Gross Unrealized Losses	11,280	17,127
Fair Value	195,520	201,222
Asset-backed securities
AFS debt securities:
Amortized Cost	159,402	164,728
Gross Unrealized Gains	89	0
Gross Unrealized Losses	1,000	3,016
Fair Value	$ 158,491	$ 161,712

Loans and Leases and Allowance for Credit Losses - Balance and Activity in the ACL by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
ACL
ACL - loans, Beginning Balance	$ 213,022	$ 190,705	$ 208,071	$ 159,357	$ 159,357
ACL- loans, Initial ACL - PCD loans		3,717		6,421
ACL - loans, Charge-Offs	(26,974)	(33,163)	(57,984)	(54,859)
ACL - loans, Recoveries	3,323	6,525	9,811	12,738
ACL - loans, (Release) Provision	15,919	33,773	45,392	77,900
ACL - loans, Ending Balance	205,290	201,557	205,290	201,557	208,071
ACL - unfunded commitments, Beginning Balance	11,718	21,572	16,057	21,163	21,163
ACL - unfunded commitments, Provision	(1,491)	(3,505)	(5,830)	(3,096)
ACL - unfunded commitments, Ending Balance	10,227	18,067	10,227	18,067	16,057
Total ACL, Beginning Balance	224,740	212,277	224,128	180,520	180,520
Total ACL, Initial ACL - PCD loans		3,717		6,421
Total ACL, Charge-Offs	(26,974)	(33,163)	(57,984)	(54,859)
Total ACL, Recoveries	3,323	6,525	9,811	12,738
Total ACL, (Release) Provision	14,428	30,268	39,562	74,804
Total ACL, Ending Balance	215,517	219,624	215,517	219,624	224,128
Commercial \| Owner occupied CRE
ACL
ACL - loans, Charge-Offs			(928)		(1,074)
Commercial \| Income producing CRE
ACL
ACL - loans, Charge-Offs			(4,819)		(7,858)
Commercial \| Commercial & industrial
ACL
ACL - loans, Charge-Offs			(14,069)		(25,538)
Commercial \| Commercial construction
ACL
ACL - loans, Charge-Offs			(122)		(60)
Commercial \| Equipment financing
ACL
ACL - loans, Charge-Offs			(20,175)		(24,206)
Residential \| Commercial construction
ACL
ACL - loans, Charge-Offs			(328)		(1,111)
Residential \| Residential mortgage
ACL
ACL - loans, Charge-Offs			(132)		(89)
Residential \| Home equity
ACL
ACL - loans, Charge-Offs			(95)		(167)
Residential \| Manufactured housing
ACL
ACL - loans, Charge-Offs			(14,475)		(3,914)
Consumer
ACL
ACL - loans, Charge-Offs			(2,841)		(3,982)
Loans receivable \| Commercial \| Owner occupied CRE
ACL
ACL - loans, Beginning Balance	21,787	21,788	23,542	19,834	19,834
ACL- loans, Initial ACL - PCD loans		92		273
ACL - loans, Charge-Offs	(127)	(656)	(928)	(863)
ACL - loans, Recoveries	311	74	747	396
ACL - loans, (Release) Provision	(736)	2,686	(2,126)	4,344
ACL - loans, Ending Balance	21,235	23,984	21,235	23,984	23,542
Loans receivable \| Commercial \| Income producing CRE
ACL
ACL - loans, Beginning Balance	42,894	38,775	47,755	32,082	32,082
ACL- loans, Initial ACL - PCD loans		3,092		3,399
ACL - loans, Charge-Offs	(1,461)	(3,044)	(4,819)	(7,858)
ACL - loans, Recoveries	52	33	237	1,357
ACL - loans, (Release) Provision	(2,009)	6,732	(3,697)	16,608
ACL - loans, Ending Balance	39,476	45,588	39,476	45,588	47,755
Loans receivable \| Commercial \| Commercial & industrial
ACL
ACL - loans, Beginning Balance	32,101	29,856	30,890	23,504	23,504
ACL- loans, Initial ACL - PCD loans		533		1,891
ACL - loans, Charge-Offs	(5,999)	(19,702)	(14,069)	(24,353)
ACL - loans, Recoveries	1,422	2,160	4,305	3,840
ACL - loans, (Release) Provision	7,175	18,370	13,573	26,335
ACL - loans, Ending Balance	34,699	31,217	34,699	31,217	30,890
Loans receivable \| Commercial \| Commercial construction
ACL
ACL - loans, Beginning Balance	19,617	22,276	21,741	20,120	20,120
ACL- loans, Initial ACL - PCD loans		0		39
ACL - loans, Charge-Offs	(69)	0	(122)	0
ACL - loans, Recoveries	33	49	114	191
ACL - loans, (Release) Provision	(3,548)	(1,686)	(5,700)	289
ACL - loans, Ending Balance	16,033	20,639	16,033	20,639	21,741
Loans receivable \| Commercial \| Equipment financing
ACL
ACL - loans, Beginning Balance	45,115	28,604	33,383	23,395	23,395
ACL- loans, Initial ACL - PCD loans		0		0
ACL - loans, Charge-Offs	(6,282)	(7,215)	(20,175)	(14,994)
ACL - loans, Recoveries	1,014	890	3,043	2,757
ACL - loans, (Release) Provision	6,019	8,083	29,615	19,204
ACL - loans, Ending Balance	45,866	30,362	45,866	30,362	33,383
Loans receivable \| Residential \| Commercial construction
ACL
ACL - loans, Beginning Balance	1,384	3,446	1,833	2,049	2,049
ACL- loans, Initial ACL - PCD loans		0		124
ACL - loans, Charge-Offs	(139)	(474)	(328)	(1,111)
ACL - loans, Recoveries	28	133	72	162
ACL - loans, (Release) Provision	213	(231)	(91)	1,650
ACL - loans, Ending Balance	1,486	2,874	1,486	2,874	1,833
Loans receivable \| Residential \| Residential mortgage
ACL
ACL - loans, Beginning Balance	28,612	25,431	28,219	20,809	20,809
ACL- loans, Initial ACL - PCD loans		0		157
ACL - loans, Charge-Offs	(110)	(16)	(132)	(61)
ACL - loans, Recoveries	78	145	223	320
ACL - loans, (Release) Provision	5,723	1,324	5,993	5,659
ACL - loans, Ending Balance	34,303	26,884	34,303	26,884	28,219
Loans receivable \| Residential \| Home equity
ACL
ACL - loans, Beginning Balance	9,386	10,609	9,647	8,707	8,707
ACL- loans, Initial ACL - PCD loans		0		534
ACL - loans, Charge-Offs	(88)	(22)	(95)	(167)
ACL - loans, Recoveries	52	2,806	140	2,977
ACL - loans, (Release) Provision	1,415	(3,594)	1,073	(2,252)
ACL - loans, Ending Balance	10,765	9,799	10,765	9,799	9,647
Loans receivable \| Residential \| Manufactured housing
ACL
ACL - loans, Beginning Balance	11,522	9,204	10,339	8,098	8,098
ACL- loans, Initial ACL - PCD loans		0		0
ACL - loans, Charge-Offs	(11,635)	(1,171)	(14,475)	(2,445)
ACL - loans, Recoveries	79	3	200	29
ACL - loans, (Release) Provision	564	1,342	4,466	3,696
ACL - loans, Ending Balance	530	9,378	530	9,378	10,339
Loans receivable \| Consumer
ACL
ACL - loans, Beginning Balance	604	716	722	759	759
ACL- loans, Initial ACL - PCD loans		0		4
ACL - loans, Charge-Offs	(1,064)	(863)	(2,841)	(3,007)
ACL - loans, Recoveries	254	232	730	709
ACL - loans, (Release) Provision	1,103	747	2,286	2,367
ACL - loans, Ending Balance	$ 897	$ 832	$ 897	$ 832	$ 722

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Unit and Option Activity

The table below presents restricted stock unit and option activity for the nine months ended September 30, 2024.


	Restricted Stock Unit Awards			Options
	Shares	Weighted- Average Grant- Date Fair Value		Aggregate Intrinsic Value ($000)		Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value ($000)
Outstanding at December 31, 2023	929,367	$	28.85			406,737	$	21.19
Granted	514,326	29.30				—	—
Released / Exercised	(205,034)	26.70		$	5,740	(86,010)	20.37			$	637

Cancelled	(80,752)	28.01				(2,353)	26.05
Outstanding at September 30, 2024	1,157,907	29.52		33,672		318,374	21.37		4.5	2,454

Vested / Exercisable at September 30, 2024	—	—				318,374	21.37		4.5	2,454

Acquisitions - Actual Results and Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Supplemental consolidated pro forma revenue	$ 207,523	$ 667,155
Supplemental consolidated pro forma net income	55,538	197,929
Progress
Business Acquisition [Line Items]
Actual revenue included since acquisition date	16,934	41,555
Actual net income included since acquisition date	7,569	12,667
First Miami Bancorp, Inc
Business Acquisition [Line Items]
Actual revenue included since acquisition date	3,488	3,488
Actual net income included since acquisition date	$ (3,330)	$ (3,330)

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Significant Non-cash Investing and Financing Activities

The supplemental schedule of significant non-cash investing and financing activities for the nine months ended September 30, 2024 and 2023 is as follows.


	Nine Months Ended September 30,
(in thousands)	2024		2023


Significant non-cash investing and financing transactions:


Commitments to fund other investments	$	9,214	$	16,410
Unsettled securities purchases	22,400		—

Right-of-use assets obtained in exchange for lease liabilities	14,351		4,131
Acquisitions:
Assets acquired	—		2,922,243
Liabilities assumed	—		2,527,654
Net assets acquired	—		394,589
Common stock issued and options converted	—		394,140

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Cash Flow Information

The supplemental schedule of significant non-cash investing and financing activities for the nine months ended September 30, 2024 and 2023 is as follows.


	Nine Months Ended September 30,
(in thousands)	2024		2023


Significant non-cash investing and financing transactions:


Commitments to fund other investments	$	9,214	$	16,410
Unsettled securities purchases	22,400		—

Right-of-use assets obtained in exchange for lease liabilities	14,351		4,131
Acquisitions:
Assets acquired	—		2,922,243
Liabilities assumed	—		2,527,654
Net assets acquired	—		394,589
Common stock issued and options converted	—		394,140

Loans and Leases and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Major Classifications of Loan Portfolio

Major classifications of the loan and lease portfolio (collectively referred to as the “loan portfolio” or “loans”) are summarized as of the dates indicated as follows.


(in thousands)	September 30, 2024		December 31, 2023
Owner occupied CRE	$	3,323,398	$	3,264,051
Income producing CRE	4,258,586		4,263,952
Commercial & industrial	2,312,657		2,411,045
Commercial construction	1,784,959		1,859,538
Equipment financing	1,603,472		1,541,120
Total commercial	13,283,072		13,339,706
Residential mortgage	3,263,509		3,198,928
Home equity	1,014,544		958,987
Residential construction	188,820		301,650
Manufactured housing	2,178		336,474
Consumer	187,799		181,117


Total loans excluding fair value hedge basis adjustment	17,939,922		18,316,862

Fair value hedge basis adjustment	24,177		1,893
Total loans	17,964,099		18,318,755
Less ACL - loans	(205,290)		(208,071)

Loans, net	$	17,758,809	$	18,110,684

Schedule of Loans Held for Investment Sold


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Manufactured housing loans	$	302,870	$	—	$	302,870	$	—
Guaranteed portion of SBA/USDA loans	11,385		26,381		39,084		70,223
Equipment financing receivables	21,122		37,671		57,836		76,945
Total	$	335,377	$	64,052	$	399,790	$	147,168

Schedule of Components of Net Investment in Leases


(in thousands)	September 30, 2024		December 31, 2023
Minimum future lease payments receivable	$	92,445	$	75,198
Estimated residual value of leased equipment	5,143		4,445
Initial direct costs	1,749		1,402
Security deposits	(482)		(413)

Unearned income	(14,621)		(11,711)
Net investment in leases	$	84,234	$	68,921

Schedule of Minimum Future Lease Payments Expected to be Received from Equipment Financing Lease Contracts

Minimum future lease payments expected to be received from equipment financing lease contracts as of September 30, 2024 were as follows:


(in thousands)
Year
Remainder of 2024	$	7,964
2025	30,164
2026	24,080
2027	17,836
2028	9,897
Thereafter	2,504
Total	$	92,445

Schedule of Loans by Aging Category, Accrual Status and Days Past Due Category


	Accruing
	Current Loans		Loans Past Due
(in thousands)			30 - 59 Days		60 - 89 Days		> 90 Days		Nonaccrual Loans		Total Loans
As of September 30, 2024
Owner occupied CRE	$	3,310,503	$	5,112	$	—	$	—	$	7,783	$	3,323,398
Income producing CRE	4,223,657		3,241		466		—		31,222		4,258,586
Commercial & industrial	2,280,604		2,549		648		—		28,856		2,312,657
Commercial construction	1,776,776		721		106		—		7,356		1,784,959
Equipment financing	1,588,356		2,675		3,318		—		9,123		1,603,472
Total commercial	13,179,896		14,298		4,538		—		84,340		13,283,072
Residential mortgage	3,232,404		7,767		1,487		—		21,851		3,263,509
Home equity	1,007,023		2,177		1,233		—		4,111		1,014,544
Residential construction	187,751		170		781		—		118		188,820
Manufactured housing	289		—		81		—		1,808		2,178
Consumer	186,918		575		154		—		152		187,799
Total loans	$	17,794,281	$	24,987	$	8,274	$	—	$	112,380	$	17,939,922

As of December 31, 2023
Owner occupied CRE	$	3,258,015	$	2,942	$	—	$	—	$	3,094	$	3,264,051
Income producing CRE	4,230,140		3,684		—		—		30,128		4,263,952
Commercial & industrial	2,388,076		8,129		1,373		—		13,467		2,411,045
Commercial construction	1,857,660		—		—		—		1,878		1,859,538
Equipment financing	1,522,962		5,895		3,758		—		8,505		1,541,120
Total commercial	13,256,853		20,650		5,131		—		57,072		13,339,706
Residential mortgage	3,179,329		4,622		1,033		—		13,944		3,198,928
Home equity	950,841		4,106		268		—		3,772		958,987
Residential construction	299,230		1,255		221		—		944		301,650
Manufactured housing	304,794		12,622		3,197		—		15,861		336,474
Consumer	180,245		686		92		—		94		181,117
Total loans	$	18,171,292	$	43,941	$	9,942	$	—	$	91,687	$	18,316,862

Schedule of Nonaccrual Loans by Loan Class

The following table presents nonaccrual loans held for investment by loan class for the periods indicated.


	Nonaccrual Loans
	September 30, 2024						December 31, 2023
(in thousands)	With no allowance		With an allowance		Total		With no allowance		With an allowance		Total
Owner occupied CRE	$	5,861	$	1,922	$	7,783	$	2,451	$	643	$	3,094
Income producing CRE	30,802		420		31,222		11,003		19,125		30,128
Commercial & industrial	20,391		8,465		28,856		11,940		1,527		13,467
Commercial construction	6,439		917		7,356		1,784		94		1,878
Equipment financing	32		9,091		9,123		57		8,448		8,505
Total commercial	63,525		20,815		84,340		27,235		29,837		57,072
Residential mortgage	3,750		18,101		21,851		1,836		12,108		13,944
Home equity	273		3,838		4,111		1,276		2,496		3,772
Residential construction	55		63		118		398		546		944
Manufactured housing	—		1,808		1,808		—		15,861		15,861
Consumer	24		128		152		2		92		94
Total	$	67,627	$	44,753	$	112,380	$	30,747	$	60,940	$	91,687

Schedule of Amortized Cost of Loans by Risk Category by Vintage Year



(in thousands)	Term Loans by Origination Year												Revolvers		Revolvers converted to term loans		Total
As of September 30, 2024	2024		2023		2022		2021		2020		Prior

Owner occupied CRE
Pass	$	316,117	$	559,036	$	621,603	$	581,389	$	521,698	$	462,600	$	110,319	$	20,397	$	3,193,159
Special Mention	858		13,318		9,288		8,025		6,466		8,596		5,263		434		52,248
Substandard	2,772		3,730		36,405		7,860		7,632		18,371		1,221		—		77,991

Total owner occupied CRE	$	319,747	$	576,084	$	667,296	$	597,274	$	535,796	$	489,567	$	116,803	$	20,831	$	3,323,398
Current period gross charge-offs	$	—	$	—	$	221	$	—	$	—	$	707	$	—	$	—	$	928
Income producing CRE
Pass	$	246,550	$	491,692	$	926,155	$	917,339	$	679,893	$	667,486	$	43,843	$	15,133	$	3,988,091
Special Mention	11,692		2,161		26,843		2,097		9,189		16,077		49		—		68,108
Substandard	47,610		42,175		15,675		1,270		35,052		60,605		—		—		202,387

Total income producing CRE	$	305,852	$	536,028	$	968,673	$	920,706	$	724,134	$	744,168	$	43,892	$	15,133	$	4,258,586
Current period gross charge-offs	$	—	$	3,128	$	—	$	—	$	—	$	1,691	$	—	$	—	$	4,819
Commercial & industrial
Pass	$	313,051	$	481,163	$	315,902	$	218,440	$	132,365	$	206,307	$	503,750	$	8,159	$	2,179,137
Special Mention	6,293		5,401		2,831		2,838		4,436		1,177		32,861		1,775		57,612
Substandard	3,188		14,975		9,853		15,191		2,871		7,515		16,224		6,091		75,908

Total commercial & industrial	$	322,532	$	501,539	$	328,586	$	236,469	$	139,672	$	214,999	$	552,835	$	16,025	$	2,312,657
Current period gross charge-offs	$	171	$	2,502	$	5,645	$	1,737	$	827	$	1,236	$	—	$	1,951	$	14,069
Commercial construction
Pass	$	349,313	$	404,059	$	570,301	$	216,231	$	43,844	$	75,227	$	52,181	$	1,621	$	1,712,777
Special Mention	4,850		535		44,346		4,137		—		106		2,657		—		56,631
Substandard	1,901		4,329		2,627		2,432		4,058		204		—		—		15,551

Total commercial construction	$	356,064	$	408,923	$	617,274	$	222,800	$	47,902	$	75,537	$	54,838	$	1,621	$	1,784,959
Current period gross charge-offs	$	—	$	69	$	53	$	—	$	—	$	—	$	—	$	—	$	122
Equipment financing
Pass	$	515,687	$	493,674	$	368,082	$	147,323	$	44,781	$	19,661	$	—	$	—	$	1,589,208
Special Mention	—		—		711		2,093		773		557		—		—		4,134
Substandard	324		1,961		4,656		1,915		496		778		—		—		10,130
Total equipment financing	$	516,011	$	495,635	$	373,449	$	151,331	$	46,050	$	20,996	$	—	$	—	$	1,603,472
Current period gross charge-offs	$	52	$	3,780	$	9,931	$	5,288	$	822	$	302	$	—	$	—	$	20,175
Residential mortgage
Pass	$	90,331	$	323,056	$	1,035,953	$	1,013,091	$	409,582	$	361,855	$	6	$	3,042	$	3,236,916
Substandard	2,141		3,264		6,821		1,973		2,038		10,130		—		226		26,593
Total residential mortgage	$	92,472	$	326,320	$	1,042,774	$	1,015,064	$	411,620	$	371,985	$	6	$	3,268	$	3,263,509
Current period gross charge-offs	$	—	$	50	$	70	$	2	$	—	$	10	$	—	$	—	$	132
Home equity
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	981,013	$	28,860	$	1,009,873
Substandard	—		—		—		—		—		—		—		4,671		4,671
Total home equity	$	—	$	—	$	—	$	—	$	—	$	—	$	981,013	$	33,531	$	1,014,544
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	95	$	95
Residential construction
Pass	$	51,011	$	80,832	$	37,426	$	9,393	$	4,698	$	5,162	$	—	$	91	$	188,613
Substandard	—		—		104		—		5		98		—		—		207
Total residential construction	$	51,011	$	80,832	$	37,530	$	9,393	$	4,703	$	5,260	$	—	$	91	$	188,820
Current period gross charge-offs	$	—	$	221	$	59	$	48	$	—	$	—	$	—	$	—	$	328
Manufactured housing
Pass	$	126	$	—	$	81	$	—	$	—	$	157	$	—	$	—	$	364
Substandard	289		550		241		112		203		419		—		—		1,814
Total manufactured housing	$	415	$	550	$	322	$	112	$	203	$	576	$	—	$	—	$	2,178
Current period gross charge-offs	$	—	$	1,665	$	3,518	$	2,519	$	2,512	$	4,261	$	—	$	—	$	14,475
Consumer
Pass	$	70,500	$	51,741	$	24,315	$	8,781	$	8,091	$	759	$	23,031	$	396	$	187,614
Substandard	—		71		44		46		18		4		—		2		185
Total consumer	$	70,500	$	51,812	$	24,359	$	8,827	$	8,109	$	763	$	23,031	$	398	$	187,799
Current period gross charge-offs	$	2,333	$	207	$	132	$	27	$	11	$	8	$	—	$	123	$	2,841


(in thousands)	Term Loans												Revolvers		Revolvers converted to term loans		Total
December 31, 2023 (revised)	2023		2022		2021		2020		2019		Prior
Owner occupied CRE
Pass	$	592,932	$	654,845	$	618,811	$	577,916	$	224,684	$	364,579	$	117,212	$	18,671	$	3,169,650
Special Mention	1,308		7,768		4,266		4,919		9,221		6,155		100		254		33,991
Substandard	3,266		8,037		15,975		11,544		8,437		9,042		1,421		2,688		60,410

Total owner occupied CRE	$	597,506	$	670,650	$	639,052	$	594,379	$	242,342	$	379,776	$	118,733	$	21,613	$	3,264,051
Current period gross charge-offs	$	—	$	48	$	—	$	819	$	—	$	207	$	—	$	—	$	1,074
Income producing CRE
Pass	$	464,979	$	904,015	$	863,308	$	795,143	$	362,139	$	526,968	$	50,659	$	13,247	$	3,980,458
Special Mention	7,626		31,993		18,989		26,217		19,904		27,893		—		—		132,622
Substandard	31,530		10,041		6,343		5,436		43,450		54,018		—		54		150,872

Total income producing CRE	$	504,135	$	946,049	$	888,640	$	826,796	$	425,493	$	608,879	$	50,659	$	13,301	$	4,263,952
Current period gross charge-offs	$	—	$	2,534	$	—	$	—	$	—	$	5,324	$	—	$	—	$	7,858
Commercial & industrial
Pass	$	573,391	$	431,962	$	280,372	$	136,975	$	86,300	$	169,570	$	581,871	$	13,332	$	2,273,773
Special Mention	2,908		4,449		1,642		5,430		5,473		718		14,861		274		35,755
Substandard	5,272		5,022		23,562		11,432		5,454		3,178		46,282		1,315		101,517

Total commercial & industrial	$	581,571	$	441,433	$	305,576	$	153,837	$	97,227	$	173,466	$	643,014	$	14,921	$	2,411,045
Current period gross charge-offs	$	5,430	$	1,462	$	13,271	$	2,477	$	787	$	286	$	—	$	1,825	$	25,538
Commercial construction
Pass	$	525,988	$	647,516	$	396,958	$	111,045	$	66,635	$	28,902	$	62,370	$	966	$	1,840,380
Special Mention	—		—		6		28		—		124		—		—		158
Substandard	1,109		2,408		10,018		5,188		195		82		—		—		19,000

Total commercial construction	$	527,097	$	649,924	$	406,982	$	116,261	$	66,830	$	29,108	$	62,370	$	966	$	1,859,538
Current period gross charge-offs	$	—	$	60	$	—	$	—	$	—	$	—	$	—	$	—	$	60
Equipment financing
Pass	$	673,201	$	496,336	$	233,422	$	83,507	$	41,053	$	3,722	$	—	$	—	$	1,531,241
Substandard	1,471		4,141		2,487		960		817		3		—		—		9,879

Total equipment financing	$	674,672	$	500,477	$	235,909	$	84,467	$	41,870	$	3,725	$	—	$	—	$	1,541,120
Current period gross charge-offs	$	474	$	10,902	$	9,764	$	1,960	$	786	$	320	$	—	$	—	$	24,206
Residential mortgage
Pass	$	319,604	$	975,957	$	1,032,182	$	440,287	$	130,378	$	280,357	$	6	$	3,415	$	3,182,186
Substandard	1,480		2,580		2,180		889		1,991		7,374		—		248		16,742
Total residential mortgage	$	321,084	$	978,537	$	1,034,362	$	441,176	$	132,369	$	287,731	$	6	$	3,663	$	3,198,928
Current period gross charge-offs	$	—	$	51	$	—	$	—	$	—	$	38	$	—	$	—	$	89
Home equity
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	926,596	$	28,412	$	955,008
Substandard	—		—		—		—		—		—		—		3,979		3,979
Total home equity	$	—	$	—	$	—	$	—	$	—	$	—	$	926,596	$	32,391	$	958,987
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	167	$	167
Residential construction
Pass	$	92,490	$	153,868	$	42,237	$	5,201	$	1,046	$	5,655	$	—	$	93	$	300,590
Substandard	517		243		149		6		—		145		—		—		1,060
Total residential construction	$	93,007	$	154,111	$	42,386	$	5,207	$	1,046	$	5,800	$	—	$	93	$	301,650
Current period gross charge-offs	$	—	$	1,111	$	—	$	—	$	—	$	—	$	—	$	—	$	1,111
Manufactured housing
Pass	$	45,065	$	69,424	$	48,814	$	43,735	$	31,321	$	80,284	$	—	$	—	$	318,643
Substandard	1,078		4,647		3,570		3,020		1,282		4,234		—		—		17,831
Total manufactured housing	$	46,143	$	74,071	$	52,384	$	46,755	$	32,603	$	84,518	$	—	$	—	$	336,474
Current period gross charge-offs	$	38	$	1,503	$	985	$	419	$	279	$	690	$	—	$	—	$	3,914
Consumer
Pass	$	86,049	$	39,461	$	16,369	$	10,350	$	1,214	$	668	$	26,239	$	534	$	180,884
Substandard	50		55		53		25		5		13		32		—		233
Total consumer	$	86,099	$	39,516	$	16,422	$	10,375	$	1,219	$	681	$	26,271	$	534	$	181,117
Current period gross charge-offs	$	3,245	$	241	$	233	$	38	$	15	$	1	$	5	$	204	$	3,982

Schedule of Modifications to Borrowers Experiencing Financial Difficulty


Nine Months Ended September 30, 2024
	New FDMs				Defaults within 12 months of modification
(dollars in thousands)	Amortized Cost		% of Total Class of Receivable















Owner occupied CRE	$	3,425	0.1	%	$	1,781
Income producing CRE	21,471		0.5		—
Commercial & industrial	23,063		1.0		329

Equipment financing	4,891		0.3		317

Residential mortgage	2,755		0.1		720


Manufactured housing	305		14.0		—
Consumer	111		0.1		—
Total	$	56,021	0.3		$	3,147

Nine Months Ended September 30, 2024

New FDMs

(dollars in thousands)

Amortized Cost

Weighted Average Modification

Extension

Owner occupied CRE

197

6 months

Commercial & industrial

19,445

1.1 years

Residential mortgage

225

10.2 years

Consumer

111

2.1 years

Total

19,978

Payment Delay

Owner occupied CRE (1)

1,631

5 months

Income producing CRE (2)

12,976

1.5 years

Commercial & industrial (1)

165

7 months

Residential mortgage

139

6 months

Total

14,911

Rate Reduction

Commercial & industrial

488

50 basis points

Payment Delay and Extension

Commercial & industrial

403

Payment delay: 4 months; Extension: 2.8 years

Equipment financing

4,891

Extension and payment delay: 8 months

Total

5,294

Rate Reduction and Extension

Income producing CRE

8,495

Rate reduction: 304 basis points; Extension: 4.8 years

Residential mortgage

2,391

Rate reduction: 448 basis points; Extension: 3.6 years

Manufactured housing

305

Rate reduction: 538 basis points; Extension: 3.6 years

Total

11,191

Rate Reduction and Payment Delay

Owner occupied CRE

1,438

Rate reduction: 75 basis points; Payment delay: 6 months

Commercial & industrial

106

Rate reduction: 150 basis points; Payment delay: 6 months

Total

1,544

Rate Reduction, Payment Delay & Extension

Owner occupied CRE

159

Rate reduction: 75 basis points; Payment delay: 6 months;

Extension: 3 years

Commercial & industrial

2,456

Rate reduction: 273 basis points; Payment delay: 6 months;

Extension: 4.6 years

Total

2,615

Total

56,021

(1) Payment delay FDMs in bankruptcy are excluded from the weighted average payment delay calculation.

(2) Payment delays in this category reflect principal payment delays, while interest payments continue in accordance with loan terms.


Nine Months Ended September 30, 2023
	New FDMs												Defaults within 12 months of modification
	Amortized Cost by Type of Modification
(dollars in thousands)	Extension		Payment Delay		Payment Delay & Extension		Rate Reduction & Extension		Total		% of Total Class of Receivable
Owner occupied CRE	$	782	$	276	$	—	$	—	$	1,058	—	%		$	—
Income producing CRE	38,139		—		—		35,369		73,508		1.8			—
Commercial & industrial	4,029		13,673		1,663		—		19,365		0.8			—
Commercial construction	—		366		—		—		366		—			—
Equipment financing	15,888		—		1,763		—		17,651		1.2			910

Residential mortgage	57		—		—		930		987		—			—

Residential construction	—		—		—		47		47		—			—
Manufactured housing	—		—		—		256		256		0.1			—

Total	$	58,895	$	14,315	$	3,426	$	36,602	$	113,238	0.6			$	910

Schedule of Balance and Activity in the ACL by Portfolio Segment

The following table presents the balance and activity in the ACL by portfolio segment for the periods indicated (in thousands).


	Three Months Ended September 30,
	2024								2023
	Beginning Balance		Charge-Offs		Recoveries		(Release) Provision		Ending Balance		Beginning Balance		Initial ACL - PCD loans (1)		Charge-Offs		Recoveries		(Release) Provision		Ending Balance
Owner occupied CRE	$	21,787	$	(127)	$	311	$	(736)	$	21,235	$	21,788	$	92	$	(656)	$	74	$	2,686	$	23,984
Income producing CRE	42,894		(1,461)		52		(2,009)		39,476		38,775		3,092		(3,044)		33		6,732		45,588
Commercial & industrial	32,101		(5,999)		1,422		7,175		34,699		29,856		533		(19,702)		2,160		18,370		31,217
Commercial construction	19,617		(69)		33		(3,548)		16,033		22,276		—		—		49		(1,686)		20,639
Equipment financing	45,115		(6,282)		1,014		6,019		45,866		28,604		—		(7,215)		890		8,083		30,362
Residential mortgage	28,612		(110)		78		5,723		34,303		25,431		—		(16)		145		1,324		26,884
Home equity	9,386		(88)		52		1,415		10,765		10,609		—		(22)		2,806		(3,594)		9,799
Residential construction	1,384		(139)		28		213		1,486		3,446		—		(474)		133		(231)		2,874
Manufactured housing	11,522		(11,635)		79		564		530		9,204		—		(1,171)		3		1,342		9,378
Consumer	604		(1,064)		254		1,103		897		716		—		(863)		232		747		832
ACL - loans	213,022		(26,974)		3,323		15,919		205,290		190,705		3,717		(33,163)		6,525		33,773		201,557
ACL - unfunded commitments	11,718		—		—		(1,491)		10,227		21,572		—		—		—		(3,505)		18,067
Total ACL	$	224,740	$	(26,974)	$	3,323	$	14,428	$	215,517	$	212,277	$	3,717	$	(33,163)	$	6,525	$	30,268	$	219,624


	Nine Months Ended September 30,
	2024								2023
	Beginning Balance		Charge-Offs		Recoveries		(Release) Provision		Ending Balance		Beginning Balance		Initial ACL - PCD loans (1)		Charge- Offs		Recoveries		(Release) Provision		Ending Balance
Owner occupied CRE	$	23,542	$	(928)	$	747	$	(2,126)	$	21,235	$	19,834	$	273	$	(863)	$	396	$	4,344	$	23,984
Income producing CRE	47,755		(4,819)		237		(3,697)		39,476		32,082		3,399		(7,858)		1,357		16,608		45,588
Commercial & industrial	30,890		(14,069)		4,305		13,573		34,699		23,504		1,891		(24,353)		3,840		26,335		31,217
Commercial construction	21,741		(122)		114		(5,700)		16,033		20,120		39		—		191		289		20,639
Equipment financing	33,383		(20,175)		3,043		29,615		45,866		23,395		—		(14,994)		2,757		19,204		30,362
Residential mortgage	28,219		(132)		223		5,993		34,303		20,809		157		(61)		320		5,659		26,884
Home equity	9,647		(95)		140		1,073		10,765		8,707		534		(167)		2,977		(2,252)		9,799
Residential construction	1,833		(328)		72		(91)		1,486		2,049		124		(1,111)		162		1,650		2,874
Manufactured housing	10,339		(14,475)		200		4,466		530		8,098		—		(2,445)		29		3,696		9,378
Consumer	722		(2,841)		730		2,286		897		759		4		(3,007)		709		2,367		832
ACL - loans	208,071		(57,984)		9,811		45,392		205,290		159,357		6,421		(54,859)		12,738		77,900		201,557
ACL - unfunded commitments	16,057		—		—		(5,830)		10,227		21,163		—		—		—		(3,096)		18,067
Total ACL	$	224,128	$	(57,984)	$	9,811	$	39,562	$	215,517	$	180,520	$	6,421	$	(54,859)	$	12,738	$	74,804	$	219,624

Investment Securities - Accrued Interest Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
HTM
Accrued interest receivable
Accrued interest receivable	$ 5,564	$ 6,143
AFS
Accrued interest receivable
Accrued interest receivable	$ 17,052	$ 12,568

Loans and Leases and Allowance for Credit Losses - Amortized Cost of Loans by Risk Category by Vintage Year (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans excluding fair value hedge basis adjustment	$ 17,939,922		$ 17,939,922		$ 18,316,862
Current period gross charge-offs, Total	26,974	$ 33,163	57,984	$ 54,859
Commercial \| Owner occupied CRE
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	319,747		319,747		597,506
Originated in prior year	576,084		576,084		670,650
Originated two years prior	667,296		667,296		639,052
Originated three years prior	597,274		597,274		594,379
Originated four years prior	535,796		535,796		242,342
Originated five or more years prior	489,567		489,567		379,776
Revolvers	116,803		116,803		118,733
Revolvers converted to term loans	20,831		20,831		21,613
Total loans excluding fair value hedge basis adjustment	3,323,398		3,323,398		3,264,051
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			0		48
Current period gross charge-offs, two years prior			221		0
Current period gross charge-offs, three years prior			0		819
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			707		207
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			928		1,074
Commercial \| Owner occupied CRE \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	316,117		316,117		592,932
Originated in prior year	559,036		559,036		654,845
Originated two years prior	621,603		621,603		618,811
Originated three years prior	581,389		581,389		577,916
Originated four years prior	521,698		521,698		224,684
Originated five or more years prior	462,600		462,600		364,579
Revolvers	110,319		110,319		117,212
Revolvers converted to term loans	20,397		20,397		18,671
Total loans excluding fair value hedge basis adjustment	3,193,159		3,193,159		3,169,650
Commercial \| Owner occupied CRE \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	858		858		1,308
Originated in prior year	13,318		13,318		7,768
Originated two years prior	9,288		9,288		4,266
Originated three years prior	8,025		8,025		4,919
Originated four years prior	6,466		6,466		9,221
Originated five or more years prior	8,596		8,596		6,155
Revolvers	5,263		5,263		100
Revolvers converted to term loans	434		434		254
Total loans excluding fair value hedge basis adjustment	52,248		52,248		33,991
Commercial \| Owner occupied CRE \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	2,772		2,772		3,266
Originated in prior year	3,730		3,730		8,037
Originated two years prior	36,405		36,405		15,975
Originated three years prior	7,860		7,860		11,544
Originated four years prior	7,632		7,632		8,437
Originated five or more years prior	18,371		18,371		9,042
Revolvers	1,221		1,221		1,421
Revolvers converted to term loans	0		0		2,688
Total loans excluding fair value hedge basis adjustment	77,991		77,991		60,410
Commercial \| Income producing CRE
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	305,852		305,852		504,135
Originated in prior year	536,028		536,028		946,049
Originated two years prior	968,673		968,673		888,640
Originated three years prior	920,706		920,706		826,796
Originated four years prior	724,134		724,134		425,493
Originated five or more years prior	744,168		744,168		608,879
Revolvers	43,892		43,892		50,659
Revolvers converted to term loans	15,133		15,133		13,301
Total loans excluding fair value hedge basis adjustment	4,258,586		4,258,586		4,263,952
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			3,128		2,534
Current period gross charge-offs, two years prior			0		0
Current period gross charge-offs, three years prior			0		0
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			1,691		5,324
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			4,819		7,858
Commercial \| Income producing CRE \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	246,550		246,550		464,979
Originated in prior year	491,692		491,692		904,015
Originated two years prior	926,155		926,155		863,308
Originated three years prior	917,339		917,339		795,143
Originated four years prior	679,893		679,893		362,139
Originated five or more years prior	667,486		667,486		526,968
Revolvers	43,843		43,843		50,659
Revolvers converted to term loans	15,133		15,133		13,247
Total loans excluding fair value hedge basis adjustment	3,988,091		3,988,091		3,980,458
Commercial \| Income producing CRE \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	11,692		11,692		7,626
Originated in prior year	2,161		2,161		31,993
Originated two years prior	26,843		26,843		18,989
Originated three years prior	2,097		2,097		26,217
Originated four years prior	9,189		9,189		19,904
Originated five or more years prior	16,077		16,077		27,893
Revolvers	49		49		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	68,108		68,108		132,622
Commercial \| Income producing CRE \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	47,610		47,610		31,530
Originated in prior year	42,175		42,175		10,041
Originated two years prior	15,675		15,675		6,343
Originated three years prior	1,270		1,270		5,436
Originated four years prior	35,052		35,052		43,450
Originated five or more years prior	60,605		60,605		54,018
Revolvers	0		0		0
Revolvers converted to term loans	0		0		54
Total loans excluding fair value hedge basis adjustment	202,387		202,387		150,872
Commercial \| Commercial & industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	322,532		322,532		581,571
Originated in prior year	501,539		501,539		441,433
Originated two years prior	328,586		328,586		305,576
Originated three years prior	236,469		236,469		153,837
Originated four years prior	139,672		139,672		97,227
Originated five or more years prior	214,999		214,999		173,466
Revolvers	552,835		552,835		643,014
Revolvers converted to term loans	16,025		16,025		14,921
Total loans excluding fair value hedge basis adjustment	2,312,657		2,312,657		2,411,045
Current period gross charge-offs, in current fiscal year			171		5,430
Current period gross charge-offs, in prior year			2,502		1,462
Current period gross charge-offs, two years prior			5,645		13,271
Current period gross charge-offs, three years prior			1,737		2,477
Current period gross charge-offs, four years prior			827		787
Current period gross charge-offs, five or more years prior			1,236		286
Revolvers			0		0
Revolvers converted to term loans			1,951		1,825
Current period gross charge-offs, Total			14,069		25,538
Commercial \| Commercial & industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	313,051		313,051		573,391
Originated in prior year	481,163		481,163		431,962
Originated two years prior	315,902		315,902		280,372
Originated three years prior	218,440		218,440		136,975
Originated four years prior	132,365		132,365		86,300
Originated five or more years prior	206,307		206,307		169,570
Revolvers	503,750		503,750		581,871
Revolvers converted to term loans	8,159		8,159		13,332
Total loans excluding fair value hedge basis adjustment	2,179,137		2,179,137		2,273,773
Commercial \| Commercial & industrial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	6,293		6,293		2,908
Originated in prior year	5,401		5,401		4,449
Originated two years prior	2,831		2,831		1,642
Originated three years prior	2,838		2,838		5,430
Originated four years prior	4,436		4,436		5,473
Originated five or more years prior	1,177		1,177		718
Revolvers	32,861		32,861		14,861
Revolvers converted to term loans	1,775		1,775		274
Total loans excluding fair value hedge basis adjustment	57,612		57,612		35,755
Commercial \| Commercial & industrial \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	3,188		3,188		5,272
Originated in prior year	14,975		14,975		5,022
Originated two years prior	9,853		9,853		23,562
Originated three years prior	15,191		15,191		11,432
Originated four years prior	2,871		2,871		5,454
Originated five or more years prior	7,515		7,515		3,178
Revolvers	16,224		16,224		46,282
Revolvers converted to term loans	6,091		6,091		1,315
Total loans excluding fair value hedge basis adjustment	75,908		75,908		101,517
Commercial \| Commercial construction
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	356,064		356,064		527,097
Originated in prior year	408,923		408,923		649,924
Originated two years prior	617,274		617,274		406,982
Originated three years prior	222,800		222,800		116,261
Originated four years prior	47,902		47,902		66,830
Originated five or more years prior	75,537		75,537		29,108
Revolvers	54,838		54,838		62,370
Revolvers converted to term loans	1,621		1,621		966
Total loans excluding fair value hedge basis adjustment	1,784,959		1,784,959		1,859,538
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			69		60
Current period gross charge-offs, two years prior			53		0
Current period gross charge-offs, three years prior			0		0
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			0		0
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			122		60
Commercial \| Commercial construction \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	349,313		349,313		525,988
Originated in prior year	404,059		404,059		647,516
Originated two years prior	570,301		570,301		396,958
Originated three years prior	216,231		216,231		111,045
Originated four years prior	43,844		43,844		66,635
Originated five or more years prior	75,227		75,227		28,902
Revolvers	52,181		52,181		62,370
Revolvers converted to term loans	1,621		1,621		966
Total loans excluding fair value hedge basis adjustment	1,712,777		1,712,777		1,840,380
Commercial \| Commercial construction \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	4,850		4,850		0
Originated in prior year	535		535		0
Originated two years prior	44,346		44,346		6
Originated three years prior	4,137		4,137		28
Originated four years prior	0		0		0
Originated five or more years prior	106		106		124
Revolvers	2,657		2,657		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	56,631		56,631		158
Commercial \| Commercial construction \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	1,901		1,901		1,109
Originated in prior year	4,329		4,329		2,408
Originated two years prior	2,627		2,627		10,018
Originated three years prior	2,432		2,432		5,188
Originated four years prior	4,058		4,058		195
Originated five or more years prior	204		204		82
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	15,551		15,551		19,000
Commercial \| Equipment financing
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	516,011		516,011		674,672
Originated in prior year	495,635		495,635		500,477
Originated two years prior	373,449		373,449		235,909
Originated three years prior	151,331		151,331		84,467
Originated four years prior	46,050		46,050		41,870
Originated five or more years prior	20,996		20,996		3,725
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	1,603,472		1,603,472		1,541,120
Current period gross charge-offs, in current fiscal year			52		474
Current period gross charge-offs, in prior year			3,780		10,902
Current period gross charge-offs, two years prior			9,931		9,764
Current period gross charge-offs, three years prior			5,288		1,960
Current period gross charge-offs, four years prior			822		786
Current period gross charge-offs, five or more years prior			302		320
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			20,175		24,206
Commercial \| Equipment financing \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	515,687		515,687		673,201
Originated in prior year	493,674		493,674		496,336
Originated two years prior	368,082		368,082		233,422
Originated three years prior	147,323		147,323		83,507
Originated four years prior	44,781		44,781		41,053
Originated five or more years prior	19,661		19,661		3,722
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	1,589,208		1,589,208		1,531,241
Commercial \| Equipment financing \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	324		324
Originated in prior year	1,961		1,961
Originated two years prior	4,656		4,656
Originated three years prior	1,915		1,915
Originated four years prior	496		496
Originated five or more years prior	778		778
Revolvers	0		0
Revolvers converted to term loans	0		0
Total loans excluding fair value hedge basis adjustment	10,130		10,130
Commercial \| Equipment financing \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		1,471
Originated in prior year	0		0		4,141
Originated two years prior	711		711		2,487
Originated three years prior	2,093		2,093		960
Originated four years prior	773		773		817
Originated five or more years prior	557		557		3
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	4,134		4,134		9,879
Residential \| Commercial construction
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	51,011		51,011		93,007
Originated in prior year	80,832		80,832		154,111
Originated two years prior	37,530		37,530		42,386
Originated three years prior	9,393		9,393		5,207
Originated four years prior	4,703		4,703		1,046
Originated five or more years prior	5,260		5,260		5,800
Revolvers	0		0		0
Revolvers converted to term loans	91		91		93
Total loans excluding fair value hedge basis adjustment	188,820		188,820		301,650
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			221		1,111
Current period gross charge-offs, two years prior			59		0
Current period gross charge-offs, three years prior			48		0
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			0		0
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			328		1,111
Residential \| Commercial construction \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	51,011		51,011		92,490
Originated in prior year	80,832		80,832		153,868
Originated two years prior	37,426		37,426		42,237
Originated three years prior	9,393		9,393		5,201
Originated four years prior	4,698		4,698		1,046
Originated five or more years prior	5,162		5,162		5,655
Revolvers	0		0		0
Revolvers converted to term loans	91		91		93
Total loans excluding fair value hedge basis adjustment	188,613		188,613		300,590
Residential \| Commercial construction \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		517
Originated in prior year	0		0		243
Originated two years prior	104		104		149
Originated three years prior	0		0		6
Originated four years prior	5		5		0
Originated five or more years prior	98		98		145
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	207		207		1,060
Residential \| Residential mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	92,472		92,472		321,084
Originated in prior year	326,320		326,320		978,537
Originated two years prior	1,042,774		1,042,774		1,034,362
Originated three years prior	1,015,064		1,015,064		441,176
Originated four years prior	411,620		411,620		132,369
Originated five or more years prior	371,985		371,985		287,731
Revolvers	6		6		6
Revolvers converted to term loans	3,268		3,268		3,663
Total loans excluding fair value hedge basis adjustment	3,263,509		3,263,509		3,198,928
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			50		51
Current period gross charge-offs, two years prior			70		0
Current period gross charge-offs, three years prior			2		0
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			10		38
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			132		89
Residential \| Residential mortgage \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	90,331		90,331		319,604
Originated in prior year	323,056		323,056		975,957
Originated two years prior	1,035,953		1,035,953		1,032,182
Originated three years prior	1,013,091		1,013,091		440,287
Originated four years prior	409,582		409,582		130,378
Originated five or more years prior	361,855		361,855		280,357
Revolvers	6		6		6
Revolvers converted to term loans	3,042		3,042		3,415
Total loans excluding fair value hedge basis adjustment	3,236,916		3,236,916		3,182,186
Residential \| Residential mortgage \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	2,141		2,141		1,480
Originated in prior year	3,264		3,264		2,580
Originated two years prior	6,821		6,821		2,180
Originated three years prior	1,973		1,973		889
Originated four years prior	2,038		2,038		1,991
Originated five or more years prior	10,130		10,130		7,374
Revolvers	0		0		0
Revolvers converted to term loans	226		226		248
Total loans excluding fair value hedge basis adjustment	26,593		26,593		16,742
Residential \| Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		0
Originated in prior year	0		0		0
Originated two years prior	0		0		0
Originated three years prior	0		0		0
Originated four years prior	0		0		0
Originated five or more years prior	0		0		0
Revolvers	981,013		981,013		926,596
Revolvers converted to term loans	33,531		33,531		32,391
Total loans excluding fair value hedge basis adjustment	1,014,544		1,014,544		958,987
Current period gross charge-offs, in current fiscal year			0		0
Current period gross charge-offs, in prior year			0		0
Current period gross charge-offs, two years prior			0		0
Current period gross charge-offs, three years prior			0		0
Current period gross charge-offs, four years prior			0		0
Current period gross charge-offs, five or more years prior			0		0
Revolvers			0		0
Revolvers converted to term loans			95		167
Current period gross charge-offs, Total			95		167
Residential \| Home equity \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		0
Originated in prior year	0		0		0
Originated two years prior	0		0		0
Originated three years prior	0		0		0
Originated four years prior	0		0		0
Originated five or more years prior	0		0		0
Revolvers	981,013		981,013		926,596
Revolvers converted to term loans	28,860		28,860		28,412
Total loans excluding fair value hedge basis adjustment	1,009,873		1,009,873		955,008
Residential \| Home equity \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		0
Originated in prior year	0		0		0
Originated two years prior	0		0		0
Originated three years prior	0		0		0
Originated four years prior	0		0		0
Originated five or more years prior	0		0		0
Revolvers	0		0		0
Revolvers converted to term loans	4,671		4,671		3,979
Total loans excluding fair value hedge basis adjustment	4,671		4,671		3,979
Residential \| Manufactured housing
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	415		415		46,143
Originated in prior year	550		550		74,071
Originated two years prior	322		322		52,384
Originated three years prior	112		112		46,755
Originated four years prior	203		203		32,603
Originated five or more years prior	576		576		84,518
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	2,178		2,178		336,474
Current period gross charge-offs, in current fiscal year			0		38
Current period gross charge-offs, in prior year			1,665		1,503
Current period gross charge-offs, two years prior			3,518		985
Current period gross charge-offs, three years prior			2,519		419
Current period gross charge-offs, four years prior			2,512		279
Current period gross charge-offs, five or more years prior			4,261		690
Revolvers			0		0
Revolvers converted to term loans			0		0
Current period gross charge-offs, Total			14,475		3,914
Residential \| Manufactured housing \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	126		126		45,065
Originated in prior year	0		0		69,424
Originated two years prior	81		81		48,814
Originated three years prior	0		0		43,735
Originated four years prior	0		0		31,321
Originated five or more years prior	157		157		80,284
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	364		364		318,643
Residential \| Manufactured housing \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	289		289		1,078
Originated in prior year	550		550		4,647
Originated two years prior	241		241		3,570
Originated three years prior	112		112		3,020
Originated four years prior	203		203		1,282
Originated five or more years prior	419		419		4,234
Revolvers	0		0		0
Revolvers converted to term loans	0		0		0
Total loans excluding fair value hedge basis adjustment	1,814		1,814		17,831
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	70,500		70,500		86,099
Originated in prior year	51,812		51,812		39,516
Originated two years prior	24,359		24,359		16,422
Originated three years prior	8,827		8,827		10,375
Originated four years prior	8,109		8,109		1,219
Originated five or more years prior	763		763		681
Revolvers	23,031		23,031		26,271
Revolvers converted to term loans	398		398		534
Total loans excluding fair value hedge basis adjustment	187,799		187,799		181,117
Current period gross charge-offs, in current fiscal year			2,333		3,245
Current period gross charge-offs, in prior year			207		241
Current period gross charge-offs, two years prior			132		233
Current period gross charge-offs, three years prior			27		38
Current period gross charge-offs, four years prior			11		15
Current period gross charge-offs, five or more years prior			8		1
Revolvers			0		5
Revolvers converted to term loans			123		204
Current period gross charge-offs, Total			2,841		3,982
Consumer \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	70,500		70,500		86,049
Originated in prior year	51,741		51,741		39,461
Originated two years prior	24,315		24,315		16,369
Originated three years prior	8,781		8,781		10,350
Originated four years prior	8,091		8,091		1,214
Originated five or more years prior	759		759		668
Revolvers	23,031		23,031		26,239
Revolvers converted to term loans	396		396		534
Total loans excluding fair value hedge basis adjustment	187,614		187,614		180,884
Consumer \| Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Originated in current fiscal year	0		0		50
Originated in prior year	71		71		55
Originated two years prior	44		44		53
Originated three years prior	46		46		25
Originated four years prior	18		18		5
Originated five or more years prior	4		4		13
Revolvers	0		0		32
Revolvers converted to term loans	2		2		0
Total loans excluding fair value hedge basis adjustment	$ 185		$ 185		$ 233

Regulatory Matters

9 Months Ended

Sep. 30, 2024

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Regulatory Matters

As of September 30, 2024, United and the Bank were categorized as well-capitalized under the regulatory requirements in effect at that time. To be categorized as well-capitalized, United and the Bank must have exceeded the well-capitalized guideline ratios in effect at the time, as set forth in the table below, and have met certain other requirements. Management believes that United and the Bank exceeded all well-capitalized requirements at September 30, 2024, and there have been no conditions or events since quarter-end that would change the status of well-capitalized.

Regulatory capital ratios at September 30, 2024 and December 31, 2023, along with the minimum amounts required for capital adequacy purposes and to be well-capitalized under regulatory requirements in effect at such times, are presented below for United and the Bank:


					United Community Banks, Inc. (Consolidated)						United Community Bank
(dollars in thousands)	Minimum (1)		Well- Capitalized		September 30, 2024			December 31, 2023			September 30, 2024			December 31, 2023
Risk-based ratios:
CET1 capital	4.5	%	6.5	%	13.07		%	12.16		%	13.06		%	12.22		%
Tier 1 capital	6.0		8.0		13.53			12.60			13.06			12.22
Total capital	8.0		10.0		15.31			14.49			14.08			13.23
Leverage ratio	4.0		5.0		9.99			9.47			9.62			9.17

CET1 capital					$	2,541,702		$	2,432,518		$	2,527,187		$	2,435,962
Tier 1 capital					2,629,968			2,520,784			2,527,187			2,435,962
Total capital					2,976,156			2,898,474			2,726,029			2,638,009
Risk-weighted assets					19,445,156			20,007,236			19,354,392			19,933,429
Average total assets for the leverage ratio					26,318,046			26,621,561			26,264,897			26,563,946

(1) As of September 30, 2024 and December 31, 2023, the minimum ratios as presented were subject to an additional capital conservation buffer of 2.50%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Debt securities, held-to-maturity, fair value	$ 2,060,729	$ 2,095,620
Other assets, fair value	104,796	111,879
Accrued expenses and other liabilities, fair value	$ 79,048	$ 97,649
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	3,662	3,662
Preferred stock, outstanding (in shares)	3,662	3,662
Preferred stock, liquidation preference	$ 25	$ 25
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	119,282,762	119,010,319
Common stock, outstanding (in shares)	119,282,762	119,010,319
Common stock, issuable (in shares)	588,296	620,108

Investment Securities - Equity Method Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
FHLB Stock	$ 18,051	$ 18,104
FRB Stock	88,008	0
Equity securities with readily determinable fair values	$ 7,894	$ 7,395

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-SubTopic 210
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-Paragraph 1
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+ Details

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest revenue:
Loans, including fees	$ 291,574	$ 273,781	$ 867,152	$ 760,696
Investment securities, including tax exempt of $1,713, $1,722, $5,133 and $5,563, respectively	52,997	44,729	149,496	125,775
Deposits in banks and short-term investments	4,515	4,637	16,131	11,938
Total interest revenue	349,086	323,147	1,032,779	898,409
Interest expense:
Deposits	136,149	116,733	404,395	263,811
Short-term borrowings	27	189	87	3,186
Federal Home Loan Bank advances	0	0	0	5,761
Long-term debt	3,724	3,669	11,262	11,339
Total interest expense	139,900	120,591	415,744	284,097
Net interest revenue	209,186	202,556	617,035	614,312
Provision for credit losses	14,428	30,268	39,562	74,804
Net interest revenue after provision for credit losses	194,758	172,288	577,473	539,508
Noninterest income:
Wealth management fees	6,338	6,451	19,037	17,775
Net (losses) gains from sales of other loans	(25,700)	2,688	(22,867)	6,909
Lending and loan servicing fees	3,512	2,985	11,050	9,979
Securities losses, net	0	0	0	(1,644)
Other	9,933	3,379	28,812	19,499
Total noninterest income	8,091	31,977	84,234	98,573
Total revenue	202,849	204,265	661,707	638,081
Noninterest expenses:
Salaries and employee benefits	83,533	81,173	254,336	236,121
Communications and equipment	12,626	10,902	36,534	31,654
Occupancy	11,311	10,941	33,466	31,024
Advertising and public relations	2,041	2,251	6,401	6,914
Postage, printing and supplies	2,477	2,386	7,376	7,305
Professional fees	6,432	7,006	18,464	19,670
Lending and loan servicing expense	2,227	2,697	6,068	7,546
Outside services - electronic banking	4,433	2,561	10,163	8,646
FDIC assessments and other regulatory charges	5,003	4,314	17,036	12,457
Amortization of intangibles	3,528	4,171	11,209	11,120
Merger-related and other charges	2,176	9,168	6,420	21,444
Other	7,278	6,904	27,638	22,785
Total noninterest expenses	143,065	144,474	435,111	416,686
Income before income taxes	59,784	59,791	226,596	221,395
Income tax expense	12,437	11,925	50,003	47,941
Net income	47,347	47,866	176,593	173,454
Net income available to common shareholders, basic	45,502	46,775	170,886	168,245
Net income available to common shareholders, diluted	$ 45,502	$ 46,775	$ 170,886	$ 168,245
Net income per common share:
Basic (in dollars per share)	$ 0.38	$ 0.39	$ 1.43	$ 1.44
Diluted (in dollars per share)	$ 0.38	$ 0.39	$ 1.43	$ 1.44
Weighted average common shares outstanding:
Basic (in shares)	119,818	119,506	119,736	116,925
Diluted (in shares)	119,952	119,624	119,827	117,084
Service charges and fees
Noninterest income:
Service charges and other related fees	$ 10,488	$ 10,315	$ 30,372	$ 28,791
Mortgage loan gains and other related fees
Noninterest income:
Service charges and other related fees	$ 3,520	$ 6,159	$ 17,830	$ 17,264

Investment Securities - AFS Debt Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	$ 246,094	$ 306,266
Unrealized Loss, Less than 12 Months	786	3,515
Fair Value, 12 Months or More	2,446,203	2,587,704
Unrealized Loss, 12 Months or More	185,656	247,106
Fair Value, Total	2,692,297	2,893,970
Unrealized Loss, Total	186,442	250,621
U.S. Treasuries
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	100,369
Unrealized Loss, Less than 12 Months	0	39
Fair Value, 12 Months or More	106,903	103,535
Unrealized Loss, 12 Months or More	7,469	10,672
Fair Value, Total	106,903	203,904
Unrealized Loss, Total	7,469	10,711
U.S. Government agencies & GSEs
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	55,534	41,960
Unrealized Loss, Less than 12 Months	185	141
Fair Value, 12 Months or More	182,580	184,184
Unrealized Loss, 12 Months or More	11,140	14,336
Fair Value, Total	238,114	226,144
Unrealized Loss, Total	11,325	14,477
State and political subdivisions
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	162,846	163,278
Unrealized Loss, 12 Months or More	14,289	18,502
Fair Value, Total	162,846	163,278
Unrealized Loss, Total	14,289	18,502
Residential MBS, Agency & GSEs
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	126,406	50,014
Unrealized Loss, Less than 12 Months	383	672
Fair Value, 12 Months or More	1,025,209	1,108,290
Unrealized Loss, 12 Months or More	96,250	124,340
Fair Value, Total	1,151,615	1,158,304
Unrealized Loss, Total	96,633	125,012
Residential MBS, Non-agency
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	291,040	317,247
Unrealized Loss, 12 Months or More	14,515	22,084
Fair Value, Total	291,040	317,247
Unrealized Loss, Total	14,515	22,084
Commercial MBS, Agency & GSEs
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	32,438	98,052
Unrealized Loss, Less than 12 Months	37	2,494
Fair Value, 12 Months or More	381,856	342,390
Unrealized Loss, 12 Months or More	29,611	36,523
Fair Value, Total	414,294	440,442
Unrealized Loss, Total	29,648	39,017
Commercial MBS, Non-agency
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	15,760	23,594
Unrealized Loss, 12 Months or More	283	675
Fair Value, Total	15,760	23,594
Unrealized Loss, Total	283	675
Corporate bonds
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	1,458	4,016
Unrealized Loss, Less than 12 Months	42	116
Fair Value, 12 Months or More	192,116	195,329
Unrealized Loss, 12 Months or More	11,238	17,011
Fair Value, Total	193,574	199,345
Unrealized Loss, Total	11,280	17,127
Asset-backed securities
Summary of AFS debt securities in an unrealized loss position
Fair Value, Less than 12 Months	30,258	11,855
Unrealized Loss, Less than 12 Months	139	53
Fair Value, 12 Months or More	87,893	149,857
Unrealized Loss, 12 Months or More	861	2,963
Fair Value, Total	118,151	161,712
Unrealized Loss, Total	$ 1,000	$ 3,016

Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments on Consolidated Balance Sheet

The table below presents the fair value of derivative financial instruments, which are included in other assets and other liabilities on the consolidated balance sheet, as of the dates indicated:


	September 30, 2024						December 31, 2023
	Notional Amount		Fair Value				Notional Amount		Fair Value
(in thousands)			Derivative Asset		Derivative Liability				Derivative Asset		Derivative Liability
Derivatives designated as hedging instruments:
Cash flow hedge of subordinated debt	$	100,000	$	9,925	$	—	$	100,000	$	13,168	$	—
Cash flow hedges of trust preferred securities	20,000		—		—		20,000		—		—
Fair value hedges of AFS debt securities	830,955		—		—		655,511		—		—
Fair value hedges of loans	1,650,000		—		—		150,000		—		—
Total	2,600,955		9,925		—		925,511		13,168		—

Derivatives not designated as hedging instruments:
Customer derivative positions	1,180,146		6,913		47,690		1,177,275		3,461		68,384
Dealer offsets to customer derivative positions	1,210,330		15,174		6,485		1,197,364		23,061		4,597
Risk participations	82,099		1		27		90,597		1		8
Mortgage banking - loan commitments	65,628		1,397		16		48,452		1,089		—
Mortgage banking - forward sales commitment	94,643		122		255		81,671		20		658
Bifurcated embedded derivatives	51,935		8,596		—		51,935		9,552		—
Dealer offsets to bifurcated embedded derivatives	51,935		—		10,121		51,935		—		11,164
Total	2,736,716		32,203		64,594		2,699,229		37,184		84,811

Total derivatives	$	5,337,671	$	42,128	$	64,594	$	3,624,740	$	50,352	$	84,811

Total gross derivative instruments			$	42,128	$	64,594			$	50,352	$	84,811
Less: Amounts subject to master netting agreements			(5,857)		(5,857)				(4,683)		(4,683)
Less: Cash collateral received/pledged			(20,280)		(11,210)				(33,921)		(11,330)
Net amount			$	15,991	$	47,527			$	11,748	$	68,798

Schedule of Effect of Derivatives in Hedging Relationships on the Consolidated Statement of Income

The table below presents the effect of derivatives in hedging relationships, all of which are interest rate contracts, on net interest income for the periods indicated.


	Affected Income Statement Line Item Increase/(Decrease) to Earnings	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2024		2023		2024		2023



Fair value hedges:





AFS securities:
Amounts related to interest settlements on derivatives		$	3,568	$	3,011	$	9,544	5,321
Gain (loss) recognized on derivative		(22,144)		9,139		(12,292)		23,028
Gain (loss) recognized on hedged items		22,983		(8,382)		13,495		(23,671)
Net income recognized on AFS securities fair value hedges	Interest revenue- investment securities	$	4,407	$	3,768	$	10,747	$	4,678



Loans:
Amounts related to interest settlements on derivatives		$	3,986	$	—	$	8,949	$	—
Loss recognized on derivatives		(27,305)		—		(21,680)		—
Gain recognized on hedged items		27,931		—		22,285		—
Net income recognized on loan fair value hedges	Interest revenue - loans, including fees	$	4,612	$	—	$	9,554	$	—

Cash flow hedges:
Long-term debt (1)	Interest expense- long term debt	$	1,441	$	42	$	4,319	$	2,098

(1) Includes premium amortization expense excluded from the assessment of hedge effectiveness of $354,000 and $348,000 for the nine months ended September 30, 2024 and 2023, respectively.

Schedule of Fair Value Hedging Instruments, Carrying Value and Basis Adjustments

The table below presents the carrying amount of hedged items and cumulative fair value hedging basis adjustments for the periods presented. All fair value hedges of AFS debt securities and loans at September 30, 2024 and December 31, 2023 were designated under the portfolio layer method.


(in thousands)	September 30, 2024						December 31, 2023
Balance Sheet Location	Carrying Amount		Hedge Accounting Basis Adjustment		Hedged Portfolio Layer		Carrying Amount		Hedge Accounting Basis Adjustment		Hedged Portfolio Layer
Debt securities AFS (1)	$	1,010,045	$	8,822	$	830,955	$	789,908	$	(4,673)	$	655,511
Loans and leases held for investment	4,799,235		24,178		1,650,000		1,017,379		1,893		150,000

(1) Carrying amount for AFS debt securities reflects amortized cost, which excludes the hedge accounting basis adjustment.

Schedule of Gains and Losses Recognized in Income on Derivatives Not Designated as Hedging Instruments

The table below presents the gains and losses recognized in income on derivatives not designated as hedging instruments for the periods indicated.


	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
		Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2024		2023		2024		2023

Customer derivatives and dealer offsets	Other noninterest income	$	1,165	$	789	$	1,371	$	1,701
Bifurcated embedded derivatives and dealer offsets	Other noninterest income	(72)		(651)		(263)		(1,658)


Mortgage banking derivatives	Mortgage loan gains and other related fees	(1,947)		1,034		(595)		2,435
Risk participations	Other noninterest income	17		19		16		161
		$	(837)	$	1,191	$	529	$	2,639

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Derivatives and Hedging Activities - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($) contract
Derivative Instruments [Line Items]
Gains to be reclassified from accumulated other comprehensive income into earnings over the next twelve months \| $	$ 4,640
Interest rate swaps \| Economic hedge, not designated as hedging instrument
Derivative Instruments [Line Items]
Number of derivative contracts \| contract	3

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2024		2023		2024		2023
Net income	$	47,347	$	47,866	$	176,593	$	173,454
Dividends on preferred stock	(1,573)		(1,624)		(4,719)		(5,062)
Discount on preferred shares repurchased	—		792		—		792
Earnings allocated to participating securities	(272)		(259)		(988)		(939)
Net income available to common shareholders	$	45,502	$	46,775	$	170,886	$	168,245

Weighted average shares outstanding:
Basic	119,818		119,506		119,736		116,925
Effect of dilutive securities:
Stock options	84		95		75		141
Restricted stock units	50		23		16		18
Diluted	119,952		119,624		119,827		117,084

Net income per common share:
Basic	$	0.38	$	0.39	$	1.43	$	1.44
Diluted	$	0.38	$	0.39	$	1.43	$	1.44

Goodwill and Other Intangible Assets - Estimated Aggregate Amortization Expense for Future Periods (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Estimated Aggregate Amortization Expense For Future Periods
Remainder of 2024	$ 3,387
2025	12,272
2026	10,394
2027	8,516
2028	6,734
Thereafter	11,637
Total intangible assets subject to amortization	$ 52,940

Assets and Liabilities Measured at Fair Value - Loans Held for Sale at Fair Value Under the Fair Value Option (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Mortgage Loans Held for Sale
Outstanding principal balance	$ 48,228		$ 48,228		$ 31,788
Fair value	49,800		49,800		$ 33,008
Mortgage loan gains and other related fees	$ 180	$ 209	$ 352	$ 473

Investment Securities - AFS Sales Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds from sales	$ 0	$ 214,573	$ 647	$ 595,234
Gross realized gains	0	0	0	1,373
Gross realized losses	0	0	0	(3,017)
Securities losses, net	0	0	0	(1,644)
Income tax benefit attributable to sales	$ 0	$ 0	$ 0	$ (374)

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Oct. 31, 2024
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-35095
Entity Registrant Name	UNITED COMMUNITY BANKS, INC.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-1807304
Entity Address, Address Line One	200 East Camperdown Way
Entity Address, City or Town	Greenville
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29601
City Area Code	800
Local Phone Number	822-2651
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		119,286,806
Entity Central Index Key	0000857855
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common stock, par value $1 per share
Entity Listings [Line Items]
Title of 12(b) Security	Common stock, par value $1 per share
Trading Symbol	UCB
Security Exchange Name	NYSE
Depositary shares, each representing 1/1000th interest in a share of Series I Non-Cumulative Preferred Stock
Entity Listings [Line Items]
Title of 12(b) Security	Depositary shares, each representing 1/1000th interest in a share of Series I Non-Cumulative Preferred Stock
Trading Symbol	UCB PRI
Security Exchange Name	NYSE

Reclassifications Out of AOCI

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Reclassifications Out of AOCI

The following table presents the details regarding amounts reclassified out of AOCI for the periods indicated. Amounts shown in parentheses reduce earnings.



(in thousands)
Details about AOCI Components	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Statement Where Net Income is Presented
	2024		2023		2024		2023
Realized losses on AFS securities:
	$	—	$	—	$	—	$	(1,644)	Securities losses, net
	—		—		—		374		Income tax expense
	$	—	$	—	$	—	$	(1,270)	Net of tax

Amortization of unrealized losses on HTM securities transferred from AFS:
	$	(2,235)	$	(2,478)	$	(6,772)	$	(7,964)	Investment securities interest revenue
	528		593		1,723		1,917		Income tax expense
	$	(1,707)	$	(1,885)	$	(5,049)	$	(6,047)	Net of tax

Reclassifications related to derivative instruments accounted for as cash flow hedges:
Interest rate contracts	$	1,441	$	42	$	4,319	$	2,098	Long-term debt interest expense

	(364)		(11)		(1,095)		(536)		Income tax expense
	$	1,077	$	31	$	3,224	$	1,562	Net of tax




Amortization of defined benefit pension plan net periodic pension cost components:
Prior service cost	$	(44)	$	(61)	$	(134)	$	(183)	Salaries and employee benefits expense



	11		16		34		47		Income tax expense
	$	(33)	$	(45)	$	(100)	$	(136)	Net of tax

Total reclassifications for the period	$	(663)	$	(1,899)	$	(1,925)	$	(5,891)	Net of tax

Assets and Liabilities Measured at Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
Debt securities available-for-sale	$ 4,023,455	$ 3,331,084
Mortgage loans held for sale	49,800	33,008
U.S. Treasuries
Assets:
Debt securities available-for-sale	535,986	387,349
U.S. Government agencies & GSEs
Assets:
Debt securities available-for-sale	351,807	267,500
State and political subdivisions
Assets:
Debt securities available-for-sale	163,604	164,049
Corporate Bonds
Assets:
Debt securities available-for-sale	195,520	201,222
Asset-backed securities
Assets:
Debt securities available-for-sale	158,491	161,712
Recurring
Assets:
Equity securities with readily determinable fair values	7,894	7,395
Mortgage loans held for sale	49,800	33,008
Deferred compensation plan assets	14,459	12,791
Servicing rights for SBA/USDA loans	4,937	5,444
Residential mortgage servicing rights	35,378	35,897
Derivative financial instruments	42,128	50,352
Total assets	4,178,051	3,475,971
Liabilities:
Deferred compensation plan liability	14,454	12,838
Derivative financial instruments	64,594	84,811
Total liabilities	79,048	97,649
Recurring \| U.S. Treasuries
Assets:
Debt securities available-for-sale	535,986	387,349
Recurring \| U.S. Government agencies & GSEs
Assets:
Debt securities available-for-sale	351,807	267,500
Recurring \| State and political subdivisions
Assets:
Debt securities available-for-sale	163,604	164,049
Recurring \| Residential MBS
Assets:
Debt securities available-for-sale	1,731,364	1,507,598
Recurring \| Commercial MBS
Assets:
Debt securities available-for-sale	886,683	641,654
Recurring \| Corporate Bonds
Assets:
Debt securities available-for-sale	195,520	201,222
Recurring \| Asset-backed securities
Assets:
Debt securities available-for-sale	158,491	161,712
Recurring \| Level 1
Assets:
Equity securities with readily determinable fair values	5,794	5,767
Mortgage loans held for sale	0	0
Deferred compensation plan assets	14,459	12,791
Servicing rights for SBA/USDA loans	0	0
Residential mortgage servicing rights	0	0
Derivative financial instruments	0	0
Total assets	556,239	405,907
Liabilities:
Deferred compensation plan liability	14,454	12,838
Derivative financial instruments	0	0
Total liabilities	14,454	12,838
Recurring \| Level 1 \| U.S. Treasuries
Assets:
Debt securities available-for-sale	535,986	387,349
Recurring \| Level 1 \| U.S. Government agencies & GSEs
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 1 \| State and political subdivisions
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 1 \| Residential MBS
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 1 \| Commercial MBS
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 1 \| Corporate Bonds
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 1 \| Asset-backed securities
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 2
Assets:
Equity securities with readily determinable fair values	2,100	1,628
Mortgage loans held for sale	49,800	33,008
Deferred compensation plan assets	0	0
Servicing rights for SBA/USDA loans	0	0
Residential mortgage servicing rights	0	0
Derivative financial instruments	31,973	39,710
Total assets	3,569,116	3,015,876
Liabilities:
Deferred compensation plan liability	0	0
Derivative financial instruments	54,037	73,639
Total liabilities	54,037	73,639
Recurring \| Level 2 \| U.S. Treasuries
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 2 \| U.S. Government agencies & GSEs
Assets:
Debt securities available-for-sale	351,807	267,500
Recurring \| Level 2 \| State and political subdivisions
Assets:
Debt securities available-for-sale	163,604	164,049
Recurring \| Level 2 \| Residential MBS
Assets:
Debt securities available-for-sale	1,731,364	1,507,598
Recurring \| Level 2 \| Commercial MBS
Assets:
Debt securities available-for-sale	886,683	641,654
Recurring \| Level 2 \| Corporate Bonds
Assets:
Debt securities available-for-sale	193,294	199,017
Recurring \| Level 2 \| Asset-backed securities
Assets:
Debt securities available-for-sale	158,491	161,712
Recurring \| Level 3
Assets:
Equity securities with readily determinable fair values	0	0
Mortgage loans held for sale	0	0
Deferred compensation plan assets	0	0
Servicing rights for SBA/USDA loans	4,937	5,444
Residential mortgage servicing rights	35,378	35,897
Derivative financial instruments	10,155	10,642
Total assets	52,696	54,188
Liabilities:
Deferred compensation plan liability	0	0
Derivative financial instruments	10,557	11,172
Total liabilities	10,557	11,172
Recurring \| Level 3 \| U.S. Treasuries
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 3 \| U.S. Government agencies & GSEs
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 3 \| State and political subdivisions
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 3 \| Residential MBS
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 3 \| Commercial MBS
Assets:
Debt securities available-for-sale	0	0
Recurring \| Level 3 \| Corporate Bonds
Assets:
Debt securities available-for-sale	2,226	2,205
Recurring \| Level 3 \| Asset-backed securities
Assets:
Debt securities available-for-sale	$ 0	$ 0

Derivatives and Hedging Activities

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

The table below presents the fair value of derivative financial instruments, which are included in other assets and other liabilities on the consolidated balance sheet, as of the dates indicated:


	September 30, 2024						December 31, 2023
	Notional Amount		Fair Value				Notional Amount		Fair Value
(in thousands)			Derivative Asset		Derivative Liability				Derivative Asset		Derivative Liability
Derivatives designated as hedging instruments:
Cash flow hedge of subordinated debt	$	100,000	$	9,925	$	—	$	100,000	$	13,168	$	—
Cash flow hedges of trust preferred securities	20,000		—		—		20,000		—		—
Fair value hedges of AFS debt securities	830,955		—		—		655,511		—		—
Fair value hedges of loans	1,650,000		—		—		150,000		—		—
Total	2,600,955		9,925		—		925,511		13,168		—

Derivatives not designated as hedging instruments:
Customer derivative positions	1,180,146		6,913		47,690		1,177,275		3,461		68,384
Dealer offsets to customer derivative positions	1,210,330		15,174		6,485		1,197,364		23,061		4,597
Risk participations	82,099		1		27		90,597		1		8
Mortgage banking - loan commitments	65,628		1,397		16		48,452		1,089		—
Mortgage banking - forward sales commitment	94,643		122		255		81,671		20		658
Bifurcated embedded derivatives	51,935		8,596		—		51,935		9,552		—
Dealer offsets to bifurcated embedded derivatives	51,935		—		10,121		51,935		—		11,164
Total	2,736,716		32,203		64,594		2,699,229		37,184		84,811

Total derivatives	$	5,337,671	$	42,128	$	64,594	$	3,624,740	$	50,352	$	84,811

Total gross derivative instruments			$	42,128	$	64,594			$	50,352	$	84,811
Less: Amounts subject to master netting agreements			(5,857)		(5,857)				(4,683)		(4,683)
Less: Cash collateral received/pledged			(20,280)		(11,210)				(33,921)		(11,330)
Net amount			$	15,991	$	47,527			$	11,748	$	68,798

United clears certain derivatives centrally through the CME. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives’ exposure rather than as collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero.

Hedging Derivatives

Cash Flow Hedges of Interest Rate Risk

As of September 30, 2024 and December 31, 2023, United utilized interest rate caps and swaps to hedge the variability of cash flows due to changes in interest rates on certain of its variable-rate subordinated debt and trust preferred securities. Gains and losses related to changes in fair value are reclassified into earnings in the periods the hedged forecasted transactions occur. Losses representing amortization of the premium recorded on cash flow hedges, which is a component excluded from the assessment of effectiveness, are recognized in earnings on a straight-line basis in the same caption as the hedged item over the term of the hedge. Over the next twelve months, United expects to reclassify $4.64 million of gains from AOCI into earnings related to these agreements.

Fair Value Hedges of Interest Rate Risk

United uses interest rate derivatives to manage its exposure to changes in fair value attributable to changes in interest rates on certain of its fixed-rate financial instruments. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. United includes the gain or loss on the hedged items in the same income statement line item as the offsetting loss or gain on the related derivatives. During the first three quarters of 2024, United entered into additional fair value hedges on stated amounts of closed portfolios of loans and investment securities using the portfolio layer method.

The table below presents the effect of derivatives in hedging relationships, all of which are interest rate contracts, on net interest income for the periods indicated.


	Affected Income Statement Line Item Increase/(Decrease) to Earnings	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2024		2023		2024		2023



Fair value hedges:





AFS securities:
Amounts related to interest settlements on derivatives		$	3,568	$	3,011	$	9,544	5,321
Gain (loss) recognized on derivative		(22,144)		9,139		(12,292)		23,028
Gain (loss) recognized on hedged items		22,983		(8,382)		13,495		(23,671)
Net income recognized on AFS securities fair value hedges	Interest revenue- investment securities	$	4,407	$	3,768	$	10,747	$	4,678



Loans:
Amounts related to interest settlements on derivatives		$	3,986	$	—	$	8,949	$	—
Loss recognized on derivatives		(27,305)		—		(21,680)		—
Gain recognized on hedged items		27,931		—		22,285		—
Net income recognized on loan fair value hedges	Interest revenue - loans, including fees	$	4,612	$	—	$	9,554	$	—

Cash flow hedges:
Long-term debt (1)	Interest expense- long term debt	$	1,441	$	42	$	4,319	$	2,098

(1) Includes premium amortization expense excluded from the assessment of hedge effectiveness of $354,000 and $348,000 for the nine months ended September 30, 2024 and 2023, respectively.


(in thousands)	September 30, 2024						December 31, 2023
Balance Sheet Location	Carrying Amount		Hedge Accounting Basis Adjustment		Hedged Portfolio Layer		Carrying Amount		Hedge Accounting Basis Adjustment		Hedged Portfolio Layer
Debt securities AFS (1)	$	1,010,045	$	8,822	$	830,955	$	789,908	$	(4,673)	$	655,511
Loans and leases held for investment	4,799,235		24,178		1,650,000		1,017,379		1,893		150,000

(1) Carrying amount for AFS debt securities reflects amortized cost, which excludes the hedge accounting basis adjustment.

Derivatives Not Designated as Hedging Instruments

Customer derivative positions include swaps, caps, and collars between United and certain commercial loan customers with offsetting positions to dealers under a back-to-back program. In addition, United occasionally enters into credit risk participation agreements with counterparty banks to accept or transfer a portion of the credit risk related to interest rate swaps.

United also has three interest rate swap contracts that are not designated as hedging instruments but are economic hedges of market-linked brokered certificates of deposit. The market-linked brokered certificates of deposit contain embedded derivatives that are bifurcated from the host instruments and are marked to market through earnings. The fair value marks on the market-linked swaps and the bifurcated embedded derivatives tend to move in opposite directions and therefore provide an economic hedge.

In addition, United originates certain residential mortgage loans with the intention of selling these loans. Between the time United enters into an interest-rate lock commitment to originate a residential mortgage loan that is to be held for sale and the time the loan is funded and eventually sold, United is subject to the risk of variability in market prices. United enters into forward sale agreements to mitigate risk and to protect the expected gain on the eventual loan sale. The commitments to originate residential mortgage loans and

forward loan sales commitments are freestanding derivative instruments. Fair value adjustments on these derivative instruments are recorded within mortgage loan gains and other related fee income in the consolidated statements of income.

The table below presents the gains and losses recognized in income on derivatives not designated as hedging instruments for the periods indicated.


	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
		Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2024		2023		2024		2023

Customer derivatives and dealer offsets	Other noninterest income	$	1,165	$	789	$	1,371	$	1,701
Bifurcated embedded derivatives and dealer offsets	Other noninterest income	(72)		(651)		(263)		(1,658)


Mortgage banking derivatives	Mortgage loan gains and other related fees	(1,947)		1,034		(595)		2,435
Risk participations	Other noninterest income	17		19		16		161
		$	(837)	$	1,191	$	529	$	2,639

Credit-Risk-Related Contingent Features

United manages its credit exposure on derivatives transactions by entering into a bilateral credit support agreement with each non-customer counterparty. The credit support agreements require collateralization of exposures beyond specified minimum threshold amounts. The details of these agreements, including the minimum thresholds, vary by counterparty.

United’s agreements with each of its derivative counterparties provide that if either party defaults on any of its indebtedness, then it could also be declared in default on its derivative obligations. The agreements with derivative counterparties also include provisions that if not met, could result in United being declared in default. United has agreements with certain of its derivative counterparties that provide that if United fails to maintain its status as a well-capitalized institution or is subject to a prompt corrective action directive, the counterparty could terminate the derivative positions and United would be required to settle its obligations under the agreements. Derivatives that are centrally cleared do not have credit-risk-related features that would require additional collateral if United’s credit rating were downgraded.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

United is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. The contract amounts of these instruments reflect the extent of involvement United has in particular classes of financial instruments. The exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and letters of credit written is represented by the contractual amount of these instruments. United uses the same credit policies in making commitments and conditional obligations as it uses for underwriting on-balance sheet instruments. In most cases, collateral or other security is required to support financial instruments with credit risk.

The following table summarizes the contractual amount of off-balance sheet instruments as of the dates indicated.


(in thousands)	September 30, 2024		December 31, 2023
Financial instruments whose contract amounts represent credit risk:
Commitments to extend credit	$	3,922,384	$	4,305,483
Letters of credit	57,498		61,808

For certain purchase card and credit card agreements between United customers and a third party institution, in the case of the borrower’s default, United will make the holder of the loan whole. As of September 30, 2024, the outstanding balance of these purchase and credit card loans totaled $4.34 million.

United, in the normal course of business, is subject to various pending and threatened lawsuits in which claims for monetary damages are asserted. Although it is not possible to predict the outcome of these lawsuits, or the range of any possible loss, management, after consultation with legal counsel, does not anticipate that the ultimate aggregate liability, if any, arising from these lawsuits will have a material adverse effect on United’s financial position or results of operations.

Tax Credit and Certain Equity Investments

United invests in certain LIHTC partnerships throughout its market area as a means of supporting local communities, as well as in entities that promote renewable energy sources. United receives tax credits related to these investments. For certain of the investments, United provides financing during the construction and development phase of the related projects and/or permanent financing upon completion of the project. United has concluded that these partnerships are VIEs of which it is not the primary beneficiary because it does not have the power to direct the activities that most significantly impact the VIEs' financial performance and, therefore, is not required to consolidate these VIEs. United's maximum potential exposure to losses relative to investments in these VIEs is generally

limited to the sum of the outstanding investment balance, any future funding commitments and the balance of any related loans to the entity. Loans to these entities are underwritten in substantially the same manner as other loans and are generally secured.

United also has investments in and future funding commitments related to fintech fund limited partnerships, other community development entities and certain other equity method investments. United has concluded that these partnerships are VIEs of which it is not the primary beneficiary because it does not have the power to direct the activities that most significantly impact the VIEs' financial performance and, therefore, is not required to consolidate these VIEs. The risk exposure relating to such commitments is generally limited to the amount invested by United and any future funding commitments.

The following table summarizes, as of the dates indicated, tax credit and certain equity method investments:


(in thousands)	Balance Sheet Location	September 30, 2024		December 31, 2023
Investments in LIHTC:
Carrying amount	Other assets	$	54,161	$	48,867
Amount of future funding commitments included in carrying amount	Other liabilities	19,147		14,176
Lending exposure	Loans and leases held for investment	10,988		803
Renewable energy investments:
Carrying amount	Other assets	3,373		18,631

Amount of future funding commitments (1)	N/A	13,214		14,406
Fintech funds and certain other equity method investments:
Carrying amount	Other assets	35,962		33,720

Amount of future funding commitments not included in carrying amount	N/A	28,518		25,008

(1) Starting in 2024, United no longer records future funding commitments related to its renewable energy investments on the balance sheet. Prior to 2024, these commitments were included in other liabilities.

The following table presents a summary of tax credits and amortization expense associated with the United’s tax credit investment activity.


(in thousands)	Income Statement Location	Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024


Investments in LIHTC:
Income tax credits and other income tax benefits	Income tax expense	$	(1,996)		$	(5,989)
Amortization expense	Income tax expense	1,831			5,398

Stock-Based Compensation - Narrative (Details) - USD ($) shares in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan vesting period (in years)	4 years
Plan exercisable period (in years)	10 years
Additional awards remaining available under plan (in shares)	1,810
Income tax benefit related to expense for share-based awards	$ 1,950,000	$ 1,810,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	0	0
Restricted stock units and performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 26,500,000
Recognition period for unrecognized compensation expense (in years)	2 years 8 months 12 days
Restricted stock units and performance stock units \| Employees \| Salaries and employee benefits expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 7,180,000	6,540,000
Restricted stock units and performance stock units \| Directors \| Other operating expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 546,000	$ 555,000

Loans and Leases and Allowance for Credit Losses - Minimum Future Lease Payments Expected to be Received from Equipment Financing Lease Contracts (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Minimum future lease payments expected to be received
Remainder of 2024	$ 7,964
2025	30,164
2026	24,080
2027	17,836
2028	9,897
Thereafter	2,504
Total	$ 92,445

Derivatives and Hedging Activities - Gains and Losses Recognized in Income on Derivatives Not Designated as Hedging Instruments (Details) - Not designated as hedging instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ (837)	$ 1,191	$ 529	$ 2,639
Customer derivatives and dealer offsets
Derivative Instruments [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	1,165	789	1,371	1,701
Bifurcated embedded derivatives and dealer offsets
Derivative Instruments [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(72)	(651)	(263)	(1,658)
Mortgage banking derivatives
Derivative Instruments [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(1,947)	1,034	(595)	2,435
Risk participations
Derivative Instruments [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 17	$ 19	$ 16	$ 161

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Preferred Stock	Common Stock Issuable	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		106,222,758
Beginning balance at Dec. 31, 2022	$ 2,700,674	$ 106,223	$ 96,422	$ 12,307	$ 2,306,366	$ 508,844	$ (329,488)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	173,454					173,454
Other comprehensive (loss) income	(3,017)						(3,017)
Impact of acquisitions (in shares)		12,279,135
Impact of acquisitions	394,140	$ 12,279			381,861
Preferred stock dividends	(5,062)					(5,062)
Common stock dividends	(81,411)					(81,411)
Purchases of preferred stock	(5,312)		(6,139)		35
Impact of equity-based compensation awards (in shares)		430,002
Impact of equity-based compensation awards	10,248	$ 430		1,034	8,784
Impact of other United sponsored equity plans (in shares)		43,757
Impact of other United sponsored equity plans	110	$ 44		(559)	625
Ending balance (in shares) at Sep. 30, 2023		118,975,652
Ending balance at Sep. 30, 2023	3,183,824	$ 118,976	90,283	12,782	2,697,671	596,617	(332,505)
Beginning balance (in shares) at Jun. 30, 2023		115,265,912
Beginning balance at Jun. 30, 2023	3,105,591	$ 115,266	96,165	12,228	2,610,523	577,316	(305,907)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,866					47,866
Other comprehensive (loss) income	(26,598)						(26,598)
Impact of acquisitions (in shares)		3,508,604
Impact of acquisitions	87,679	$ 3,508			84,171
Preferred stock dividends	(1,624)					(1,624)
Common stock dividends	(27,733)					(27,733)
Purchases of preferred stock	(5,090)		(5,882)			792
Impact of equity-based compensation awards (in shares)		197,700
Impact of equity-based compensation awards	3,504	$ 198		411	2,895
Impact of other United sponsored equity plans (in shares)		3,436
Impact of other United sponsored equity plans	229	$ 4		143	82
Ending balance (in shares) at Sep. 30, 2023		118,975,652
Ending balance at Sep. 30, 2023	$ 3,183,824	$ 118,976	90,283	12,782	2,697,671	596,617	(332,505)
Beginning balance (in shares) at Dec. 31, 2023	119,010,319	119,010,319
Beginning balance at Dec. 31, 2023	$ 3,261,525	$ 119,010	88,266	13,110	2,699,112	581,219	(239,192)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	176,593					176,593
Other comprehensive (loss) income	49,431						49,431
Impact of acquisitions	0
Preferred stock dividends	(4,719)					(4,719)
Common stock dividends	(84,128)					(84,128)
Impact of equity-based compensation awards (in shares)		219,400
Impact of equity-based compensation awards	8,012	$ 219		543	7,250
Impact of other United sponsored equity plans (in shares)		53,043
Impact of other United sponsored equity plans	$ (34)	$ 54		(992)	904
Ending balance (in shares) at Sep. 30, 2024	119,282,762	119,282,762
Ending balance at Sep. 30, 2024	$ 3,406,680	$ 119,283	88,266	12,661	2,707,266	668,965	(189,761)
Beginning balance (in shares) at Jun. 30, 2024		119,174,803
Beginning balance at Jun. 30, 2024	3,342,633	$ 119,175	88,266	12,145	2,705,345	652,239	(234,537)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,347					47,347
Other comprehensive (loss) income	44,776						44,776
Preferred stock dividends	(1,573)					(1,573)
Common stock dividends	(29,048)					(29,048)
Impact of equity-based compensation awards (in shares)		104,709
Impact of equity-based compensation awards	2,324	$ 105		375	1,844
Impact of other United sponsored equity plans (in shares)		3,250
Impact of other United sponsored equity plans	$ 221	$ 3		141	77
Ending balance (in shares) at Sep. 30, 2024	119,282,762	119,282,762
Ending balance at Sep. 30, 2024	$ 3,406,680	$ 119,283	$ 88,266	$ 12,661	$ 2,707,266	$ 668,965	$ (189,761)

Assets and Liabilities Measured at Fair Value - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum remaining maturity of financial instruments having no defined maturity				180 days
FinTrust
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
FinTrust goodwill write-down				$ 5,100	$ 0
Disposal Group, Held-for-Sale, Not Discontinued Operations \| FinTrust
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
FinTrust goodwill write-down	$ 0	$ 5,100	$ 0	$ 5,100	$ 0

Investment Securities - Amortized Cost and Fair value of AFS and HTM Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
AFS, Amortized Cost
AFS, Amortized Cost, Within 1 year	$ 258,826
AFS, Amortized Cost, 1 to 5 years	537,737
AFS, Amortized Cost, 5 to 10 years	290,951
AFS, Amortized Cost, More than 10 years	200,652
AFS, Amortized Cost, Not due at single maturity	2,909,130
Amortized Cost	4,197,296	$ 3,579,955
AFS, Fair Value
AFS, Fair Value, Within 1 year	258,631
AFS, Fair Value, 1 to 5 years	520,086
AFS, Fair Value, 5 to 10 years	275,922
AFS, Fair Value, More than 10 years	192,278
AFS, Fair Value, Not due at single maturity	2,776,538
Fair Value	4,023,455	3,331,084
HTM, Amortized Cost
HTM, Amortized Cost, Within 1 year	3,701
HTM, Amortized Cost, 1 to 5 years	47,589
HTM, Amortized Cost, 5 to 10 years	142,536
HTM, Amortized Cost, More than 10 years	231,132
HTM, Amortized Cost, Not due at single maturity	1,976,919
Amortized Cost	2,401,877	2,490,848
HTM, Fair Value
HTM, Fair Value, Within 1 year	3,710
HTM, Fair Value, 1 to 5 years	44,972
HTM, Fair Value, 5 to 10 years	124,634
HTM, Fair Value, More than 10 years	189,928
HTM, Fair Value, Not due at single maturity	1,697,485
Fair value	2,060,729	2,095,620
U.S. Treasuries
AFS, Amortized Cost
AFS, Amortized Cost, Within 1 year	227,430
AFS, Amortized Cost, 1 to 5 years	313,421
Amortized Cost	540,851	398,021
AFS, Fair Value
AFS, Fair Value, Within 1 year	227,725
AFS, Fair Value, 1 to 5 years	308,261
Fair Value	535,986	387,349
HTM, Amortized Cost
HTM, Amortized Cost, Within 1 year	0
HTM, Amortized Cost, 1 to 5 years	19,888
Amortized Cost	19,888	19,864
HTM, Fair Value
HTM, Fair Value, Within 1 year	0
HTM, Fair Value, 1 to 5 years	18,474
Fair value	18,474	17,950
U.S. Government agencies & GSEs
AFS, Amortized Cost
AFS, Amortized Cost, Within 1 year	617
AFS, Amortized Cost, 1 to 5 years	48,685
AFS, Amortized Cost, 5 to 10 years	191,201
AFS, Amortized Cost, More than 10 years	122,246
Amortized Cost	362,749	281,708
AFS, Fair Value
AFS, Fair Value, Within 1 year	604
AFS, Fair Value, 1 to 5 years	45,861
AFS, Fair Value, 5 to 10 years	186,757
AFS, Fair Value, More than 10 years	118,585
Fair Value	351,807	267,500
HTM, Amortized Cost
HTM, Amortized Cost, Within 1 year	0
HTM, Amortized Cost, 1 to 5 years	0
HTM, Amortized Cost, 5 to 10 years	75,330
HTM, Amortized Cost, More than 10 years	23,760
Amortized Cost	99,090	99,052
HTM, Fair Value
HTM, Fair Value, Within 1 year	0
HTM, Fair Value, 1 to 5 years	0
HTM, Fair Value, 5 to 10 years	66,216
HTM, Fair Value, More than 10 years	20,063
Fair value	86,279	83,363
State and political subdivisions
AFS, Amortized Cost
AFS, Amortized Cost, Within 1 year	4,071
AFS, Amortized Cost, 1 to 5 years	36,189
AFS, Amortized Cost, 5 to 10 years	60,042
AFS, Amortized Cost, More than 10 years	77,590
Amortized Cost	177,892	182,546
AFS, Fair Value
AFS, Fair Value, Within 1 year	4,026
AFS, Fair Value, 1 to 5 years	33,623
AFS, Fair Value, 5 to 10 years	53,187
AFS, Fair Value, More than 10 years	72,768
Fair Value	163,604	164,049
HTM, Amortized Cost
HTM, Amortized Cost, Within 1 year	3,701
HTM, Amortized Cost, 1 to 5 years	27,701
HTM, Amortized Cost, 5 to 10 years	52,206
HTM, Amortized Cost, More than 10 years	207,372
Amortized Cost	290,980	292,705
HTM, Fair Value
HTM, Fair Value, Within 1 year	3,710
HTM, Fair Value, 1 to 5 years	26,498
HTM, Fair Value, 5 to 10 years	45,561
HTM, Fair Value, More than 10 years	169,865
Fair value	245,634	242,439
Corporate bonds
AFS, Amortized Cost
AFS, Amortized Cost, Within 1 year	26,708
AFS, Amortized Cost, 1 to 5 years	139,442
AFS, Amortized Cost, 5 to 10 years	39,708
AFS, Amortized Cost, More than 10 years	816
Amortized Cost	206,674	218,285
AFS, Fair Value
AFS, Fair Value, Within 1 year	26,276
AFS, Fair Value, 1 to 5 years	132,341
AFS, Fair Value, 5 to 10 years	35,978
AFS, Fair Value, More than 10 years	925
Fair Value	195,520	201,222
HTM, Amortized Cost
HTM, Amortized Cost, Within 1 year	0
HTM, Amortized Cost, 1 to 5 years	0
HTM, Amortized Cost, 5 to 10 years	0
HTM, Amortized Cost, More than 10 years	0
HTM, Fair Value
HTM, Fair Value, Within 1 year	0
HTM, Fair Value, 1 to 5 years	0
HTM, Fair Value, 5 to 10 years	0
HTM, Fair Value, More than 10 years	0
Supranational entities
AFS, Amortized Cost
AFS, Amortized Cost, 5 to 10 years	0
AFS, Fair Value
AFS, Fair Value, 5 to 10 years	0
HTM, Amortized Cost
HTM, Amortized Cost, 5 to 10 years	15,000
Amortized Cost	15,000	15,000
HTM, Fair Value
HTM, Fair Value, 5 to 10 years	12,857
Fair value	12,857	12,500
Asset-backed securities
AFS, Amortized Cost
AFS, Amortized Cost, Not due at single maturity	159,402
Amortized Cost	159,402	164,728
AFS, Fair Value
AFS, Fair Value, Not due at single maturity	158,491
Fair Value	158,491	$ 161,712
HTM, Amortized Cost
HTM, Amortized Cost, Not due at single maturity	0
HTM, Fair Value
HTM, Fair Value, Not due at single maturity	0
Residential MBS
AFS, Amortized Cost
AFS, Amortized Cost, Not due at single maturity	1,840,750
AFS, Fair Value
AFS, Fair Value, Not due at single maturity	1,731,364
HTM, Amortized Cost
HTM, Amortized Cost, Not due at single maturity	1,306,953
HTM, Fair Value
HTM, Fair Value, Not due at single maturity	1,131,471
Commercial MBS
AFS, Amortized Cost
AFS, Amortized Cost, Not due at single maturity	908,978
AFS, Fair Value
AFS, Fair Value, Not due at single maturity	886,683
HTM, Amortized Cost
HTM, Amortized Cost, Not due at single maturity	669,966
HTM, Fair Value
HTM, Fair Value, Not due at single maturity	$ 566,014

Investment Securities - Narrative (Details)	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Debt Securities, Available For Sale And Held To Maturity [Line Items]
Number of AFS debt securities in unrealized loss position \| security	594
Number of HTM debt securities in unrealized loss position \| security	302
Allowance for credit losses, HTM portfolio	$ 0	$ 0
Allowance for credit losses, AFS portfolio	0	0
Pledged securities \| Interest expense- deposits
Debt Securities, Available For Sale And Held To Maturity [Line Items]
Securities	$ 2,640,000,000	$ 4,120,000,000

Reclassifications Out of AOCI (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Reclassifications Out of AOCI

The following table presents the details regarding amounts reclassified out of AOCI for the periods indicated. Amounts shown in parentheses reduce earnings.



(in thousands)
Details about AOCI Components	Three Months Ended September 30,				Nine Months Ended September 30,				Affected Line Item in the Statement Where Net Income is Presented
	2024		2023		2024		2023
Realized losses on AFS securities:
	$	—	$	—	$	—	$	(1,644)	Securities losses, net
	—		—		—		374		Income tax expense
	$	—	$	—	$	—	$	(1,270)	Net of tax

Amortization of unrealized losses on HTM securities transferred from AFS:
	$	(2,235)	$	(2,478)	$	(6,772)	$	(7,964)	Investment securities interest revenue
	528		593		1,723		1,917		Income tax expense
	$	(1,707)	$	(1,885)	$	(5,049)	$	(6,047)	Net of tax

Reclassifications related to derivative instruments accounted for as cash flow hedges:
Interest rate contracts	$	1,441	$	42	$	4,319	$	2,098	Long-term debt interest expense

	(364)		(11)		(1,095)		(536)		Income tax expense
	$	1,077	$	31	$	3,224	$	1,562	Net of tax




Amortization of defined benefit pension plan net periodic pension cost components:
Prior service cost	$	(44)	$	(61)	$	(134)	$	(183)	Salaries and employee benefits expense



	11		16		34		47		Income tax expense
	$	(33)	$	(45)	$	(100)	$	(136)	Net of tax

Total reclassifications for the period	$	(663)	$	(1,899)	$	(1,925)	$	(5,891)	Net of tax

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill and Other Intangible Assets

The carrying amount of goodwill and other intangible assets as of the dates indicated is summarized below.


(in thousands)	September 30, 2024		December 31, 2023
Core deposit intangible	$	100,694	$	104,174
Less: accumulated amortization	(47,779)		(40,495)
Net core deposit intangible	52,915		63,679
Customer relationship intangible	8,400		8,400
Less: accumulated amortization	(2,351)		(1,906)
Net customer relationship intangible	6,049		6,494
Total intangibles subject to amortization, net (1)	58,964		70,173
Goodwill	916,153		919,914
Total goodwill and other intangible assets, net	$	975,117	$	990,087

(1) As intangible assets become fully amortized, they are excluded from balances presented.

Schedule of Changes in the Carrying Amounts of Goodwill

The following table summarizes the changes in the carrying amounts of goodwill for the periods indicated.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023

Balance, beginning of period (1)	$	916,153	$	896,718	$	919,914	$	751,174
Acquisitions	—		23,196		—		168,740
Measurement period adjustment - First Miami (2)	—		—		1,339		—
FinTrust goodwill write-down	—		—		(5,100)		—
Balance, end of period (1)	$	916,153	$	919,914	$	916,153	$	919,914

(1) Goodwill balances are shown net of accumulated impairment losses of $306 million incurred prior to 2023.

(2) See Note 4 for further details.

Schedule of Estimated Aggregate Amortization Expense for Future Periods

The estimated aggregate amortization expense for future periods for finite-lived intangibles, excluding the customer relationship intangible associated with FinTrust, is as follows:


(in thousands)
Year
Remainder of 2024	$	3,387
2025	12,272
2026	10,394
2027	8,516
2028	6,734
Thereafter	11,637
Total	$	52,940

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and due from banks	$ 202,644	$ 200,781
Interest-bearing deposits in banks	537,395	803,094
Cash and cash equivalents	740,039	1,003,875
Debt securities available-for-sale	4,023,455	3,331,084
Debt securities held-to-maturity (fair value $2,060,729 and $2,095,620, respectively)	2,401,877	2,490,848
Loans held for sale	49,800	33,008
Loans and leases held for investment	17,964,099	18,318,755
Allowance for credit losses - loans and leases	(205,290)	(208,071)
Loans and leases, net	17,758,809	18,110,684
Premises and equipment, net	396,696	378,421
Bank owned life insurance	345,703	345,371
Goodwill and other intangible assets, net	975,117	990,087
Other assets (including $104,796 and $111,879 at fair value, respectively)	681,636	613,873
Total assets	27,373,132	27,297,251
Deposits:
Noninterest-bearing demand	6,222,518	6,534,307
Interest-bearing deposits	17,030,584	16,776,304
Total deposits	23,253,102	23,310,611
Long-term debt	316,363	324,823
Accrued expenses and other liabilities (including $79,048 and $97,649 at fair value, respectively)	396,987	400,292
Total liabilities	23,966,452	24,035,726
Shareholders' equity:
Preferred stock, $1 par value: 10,000,000 shares authorized; 3,662 shares Series I issued and outstanding; $25,000 per share liquidation preference	88,266	88,266
Common stock, $1 par value: 200,000,000 shares authorized, 119,282,762 and 119,010,319 shares issued and outstanding, respectively	119,283	119,010
Common stock issuable: 588,296 and 620,108 shares, respectively	12,661	13,110
Capital surplus	2,707,266	2,699,112
Retained earnings	668,965	581,219
Accumulated other comprehensive loss	(189,761)	(239,192)
Total shareholders' equity	3,406,680	3,261,525
Total liabilities and shareholders' equity	$ 27,373,132	$ 27,297,251

Investment Securities - Amortized Cost Basis, Unrealized Gains and Losses and Fair value of HTM Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
HTM debt securities:
Amortized Cost	$ 2,401,877	$ 2,490,848
Gross Unrealized Gains	116	195
Gross Unrealized Losses	341,264	395,423
Fair Value	2,060,729	2,095,620
U.S. Treasuries
HTM debt securities:
Amortized Cost	19,888	19,864
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,414	1,914
Fair Value	18,474	17,950
U.S. Government agencies & GSEs
HTM debt securities:
Amortized Cost	99,090	99,052
Gross Unrealized Gains	0	0
Gross Unrealized Losses	12,811	15,689
Fair Value	86,279	83,363
State and political subdivisions
HTM debt securities:
Amortized Cost	290,980	292,705
Gross Unrealized Gains	88	171
Gross Unrealized Losses	45,434	50,437
Fair Value	245,634	242,439
Residential MBS, Agency & GSEs
HTM debt securities:
Amortized Cost	1,306,953	1,383,294
Gross Unrealized Gains	28	24
Gross Unrealized Losses	175,510	206,344
Fair Value	1,131,471	1,176,974
Commercial MBS, Agency & GSEs
HTM debt securities:
Amortized Cost	669,966	680,933
Gross Unrealized Gains	0	0
Gross Unrealized Losses	103,952	118,539
Fair Value	566,014	562,394
Supranational entities
HTM debt securities:
Amortized Cost	15,000	15,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2,143	2,500
Fair Value	$ 12,857	$ 12,500

Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2024

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Schedule of Minimum Amounts Required for Capital Adequacy Purposes


					United Community Banks, Inc. (Consolidated)						United Community Bank
(dollars in thousands)	Minimum (1)		Well- Capitalized		September 30, 2024			December 31, 2023			September 30, 2024			December 31, 2023
Risk-based ratios:
CET1 capital	4.5	%	6.5	%	13.07		%	12.16		%	13.06		%	12.22		%
Tier 1 capital	6.0		8.0		13.53			12.60			13.06			12.22
Total capital	8.0		10.0		15.31			14.49			14.08			13.23
Leverage ratio	4.0		5.0		9.99			9.47			9.62			9.17

CET1 capital					$	2,541,702		$	2,432,518		$	2,527,187		$	2,435,962
Tier 1 capital					2,629,968			2,520,784			2,527,187			2,435,962
Total capital					2,976,156			2,898,474			2,726,029			2,638,009
Risk-weighted assets					19,445,156			20,007,236			19,354,392			19,933,429
Average total assets for the leverage ratio					26,318,046			26,621,561			26,264,897			26,563,946

(1) As of September 30, 2024 and December 31, 2023, the minimum ratios as presented were subject to an additional capital conservation buffer of 2.50%

Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities losses, net	$ 0	$ 0	$ 0	$ (1,644)
Income tax expense	(12,437)	(11,925)	(50,003)	(47,941)
Investment securities interest revenue	349,086	323,147	1,032,779	898,409
Long-term debt interest expense	(3,724)	(3,669)	(11,262)	(11,339)
Salaries and employee benefits expense	(83,533)	(81,173)	(254,336)	(236,121)
Net of tax	47,347	47,866	176,593	173,454
Reclassifications Out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	(663)	(1,899)	(1,925)	(5,891)
Reclassifications Out of AOCI \| Realized losses on AFS securities:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities losses, net	0	0	0	(1,644)
Income tax expense	0	0	0	374
Net of tax	0	0	0	(1,270)
Reclassifications Out of AOCI \| Amortization of unrealized losses on HTM securities transferred from AFS:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	528	593	1,723	1,917
Investment securities interest revenue	(2,235)	(2,478)	(6,772)	(7,964)
Net of tax	(1,707)	(1,885)	(5,049)	(6,047)
Reclassifications Out of AOCI \| Reclassifications related to derivative instruments accounted for as cash flow hedges:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	(364)	(11)	(1,095)	(536)
Long-term debt interest expense	1,441	42	4,319	2,098
Net of tax	1,077	31	3,224	1,562
Reclassifications Out of AOCI \| Amortization of defined benefit pension plan net periodic pension cost components:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	11	16	34	47
Net of tax	(33)	(45)	(100)	(136)
Reclassifications Out of AOCI \| Prior service cost
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Salaries and employee benefits expense	$ (44)	$ (61)	$ (134)	$ (183)

Goodwill and Other Intangible Assets - Carrying Amount (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Goodwill and other intangible assets
Total intangible assets subject to amortization	$ 58,964		$ 70,173
Goodwill	916,153	$ 916,153	919,914	$ 919,914	$ 896,718	$ 751,174
Total goodwill and other intangible assets, net	975,117		990,087
Core deposit intangible
Goodwill and other intangible assets
Intangibles subject to amortization, gross	100,694		104,174
Less: accumulated amortization	(47,779)		(40,495)
Total intangible assets subject to amortization	52,915		63,679
Customer relationship intangible
Goodwill and other intangible assets
Intangibles subject to amortization, gross	8,400		8,400
Less: accumulated amortization	(2,351)		(1,906)
Total intangible assets subject to amortization	$ 6,049		$ 6,494

- Definition

+ References

+ Details

Common Stock (Details) - Common Stock - USD ($)	3 Months Ended		9 Months Ended
Common Stock (Details) - Common Stock - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Aug. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchase program authorized amount					$ 100,000,000
Shares repurchased (in shares)	0	0	0	0
Repurchase program remaining authorization	$ 100,000,000		$ 100,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Investment Securities - HTM Debt Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	$ 12,289	$ 9,830
Unrealized Loss, Less than 12 Months	1,634	130
Fair Value, 12 Months or More	2,030,768	2,062,485
Unrealized Loss, 12 Months or More	339,630	395,293
Fair Value, Total	2,043,057	2,072,315
Unrealized Loss, Total	341,264	395,423
U.S. Treasuries
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	18,474	17,951
Unrealized Loss, 12 Months or More	1,414	1,914
Fair Value, Total	18,474	17,951
Unrealized Loss, Total	1,414	1,914
U.S. Government agencies & GSEs
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	86,280	83,363
Unrealized Loss, 12 Months or More	12,811	15,689
Fair Value, Total	86,280	83,363
Unrealized Loss, Total	12,811	15,689
State and political subdivisions
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	6,191	2,986
Unrealized Loss, Less than 12 Months	34	13
Fair Value, 12 Months or More	223,270	217,547
Unrealized Loss, 12 Months or More	45,400	50,424
Fair Value, Total	229,461	220,533
Unrealized Loss, Total	45,434	50,437
Residential MBS, Agency & GSEs
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	6,098	311
Unrealized Loss, Less than 12 Months	1,600	2
Fair Value, 12 Months or More	1,123,874	1,175,263
Unrealized Loss, 12 Months or More	173,910	206,342
Fair Value, Total	1,129,972	1,175,574
Unrealized Loss, Total	175,510	206,344
Commercial MBS, Agency & GSEs
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	6,533
Unrealized Loss, Less than 12 Months	0	115
Fair Value, 12 Months or More	566,013	555,861
Unrealized Loss, 12 Months or More	103,952	118,424
Fair Value, Total	566,013	562,394
Unrealized Loss, Total	103,952	118,539
Supranational entities
Summary of HTM debt securities in an unrealized loss position
Fair Value, Less than 12 Months	0	0
Unrealized Loss, Less than 12 Months	0	0
Fair Value, 12 Months or More	12,857	12,500
Unrealized Loss, 12 Months or More	2,143	2,500
Fair Value, Total	12,857	12,500
Unrealized Loss, Total	$ 2,143	$ 2,500

Acquisitions

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions

Acquisition of First Miami

On July 1, 2023, United acquired all of the outstanding common stock of First Miami in a stock transaction. Information related to the fair value of assets and liabilities acquired is included in the 2023 10-K. During the first quarter of 2024, within the one-year measurement period related to the acquisition of First Miami, United received additional information regarding the lack of realizability of certain tax credits. As a result, the provisional fair value assigned to acquired other assets was adjusted to $18.8 million, other liabilities was adjusted to $16.9 million and goodwill was adjusted to $24.5 million, which represents a decrease of $2.06 million, a decrease of $726,000 and an increase of $1.34 million, respectively.

Pro forma information

On January 3, 2023 and July 1, 2023, United acquired all of the outstanding common stock of Progress and First Miami, respectively, in stock transactions. The following table discloses certain pro forma information as if Progress and First Miami had been acquired on January 1, 2022. These results combine the historical results of the acquired entities with United’s consolidated statement of income. Adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity; however pro forma financial results presented are not necessarily indicative of what would have occurred had the acquisitions taken place in earlier years.

Merger-related costs related to the First Miami acquisition for the three and nine months ended September 30, 2023 of $6.53 million and $6.91 million, respectively, have been excluded from the pro forma information for those periods presented below. Merger-related costs related to the Progress acquisition for the three and nine months ended September 30, 2023 of $182,000 and $9.96 million, respectively, have been excluded from the pro forma information for those periods presented below. The actual results and pro forma information were as follows:


	Three Months Ended September 30, 2023				Nine Months Ended September 30, 2023
(in thousands)	Revenue		Net Income		Revenue		Net Income






Actual Progress results included in statement of income since acquisition date	$	16,934	$	7,569	$	41,555	$	12,667
Actual First Miami results included in statement of income since acquisition date	$	3,488	$	(3,330)	3,488		(3,330)
Supplemental consolidated pro forma as if Progress and First Miami had been acquired January 1, 2022	$	207,523	$	55,538	667,155		197,929

Commitments and Contingencies - Contractual Amount of Off-balance Sheet Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commitments to extend credit
Financial instruments whose contract amounts represent credit risk:
Financial instruments whose contract amounts represent credit risk:	$ 3,922,384	$ 4,305,483
Letters of credit
Financial instruments whose contract amounts represent credit risk:
Financial instruments whose contract amounts represent credit risk:	$ 57,498	$ 61,808

Regulatory Matters (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CET1 capital, Minimum	0.045
CET1 capital, Well-Capitalized	0.065
CET1 capital	0.1307	0.1216
Tier 1 capital, Minimum	0.060
Tier 1 capital, Well-Capitalized	0.080
Tier 1 capital	0.1353	0.1260
Total capital, Minimum	0.080
Total capital, Well-Capitalized	0.100
Total capital	0.1531	0.1449
Leverage ratio, Minimum	0.040
Leverage ratio, Well-Capitalized	0.050
Leverage ratio	0.0999	0.0947
CET1 capital	$ 2,541,702	$ 2,432,518
Tier 1 capital	2,629,968	2,520,784
Total capital	2,976,156	2,898,474
Risk-weighted assets	19,445,156	20,007,236
Average total assets for the leverage ratio	$ 26,318,046	$ 26,621,561
United Community Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
CET1 capital	0.1306	0.1222
Tier 1 capital	0.1306	0.1222
Total capital	0.1408	0.1323
Leverage ratio	0.0962	0.0917
CET1 capital	$ 2,527,187	$ 2,435,962
Tier 1 capital	2,527,187	2,435,962
Total capital	2,726,029	2,638,009
Risk-weighted assets	19,354,392	19,933,429
Average total assets for the leverage ratio	$ 26,264,897	$ 26,563,946

Loans and Leases and Allowance for Credit Losses - Major classifications of loan portfolio (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Classifications of loans
Total loans excluding fair value hedge basis adjustment	$ 17,939,922		$ 18,316,862
Fair value hedge basis adjustment	24,177		1,893
Total loans	17,964,099		18,318,755
Less ACL - loans	(205,290)	$ (213,022)	(208,071)	$ (201,557)	$ (190,705)	$ (159,357)
Loans and leases, net	17,758,809		18,110,684
Commercial \| Owner occupied CRE
Classifications of loans
Total loans excluding fair value hedge basis adjustment	3,323,398		3,264,051
Commercial \| Income producing CRE
Classifications of loans
Total loans excluding fair value hedge basis adjustment	4,258,586		4,263,952
Commercial \| Commercial & industrial
Classifications of loans
Total loans excluding fair value hedge basis adjustment	2,312,657		2,411,045
Commercial \| Commercial construction
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,784,959		1,859,538
Commercial \| Equipment financing
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,603,472		1,541,120
Residential \| Commercial construction
Classifications of loans
Total loans excluding fair value hedge basis adjustment	188,820		301,650
Residential \| Residential mortgage
Classifications of loans
Total loans excluding fair value hedge basis adjustment	3,263,509		3,198,928
Residential \| Home equity
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,014,544		958,987
Residential \| Manufactured housing
Classifications of loans
Total loans excluding fair value hedge basis adjustment	2,178		336,474
Consumer
Classifications of loans
Total loans excluding fair value hedge basis adjustment	187,799		181,117
Loans receivable
Classifications of loans
Total loans excluding fair value hedge basis adjustment	17,939,922		18,316,862
Loans receivable \| Commercial
Classifications of loans
Total loans excluding fair value hedge basis adjustment	13,283,072		13,339,706
Loans receivable \| Commercial \| Owner occupied CRE
Classifications of loans
Total loans excluding fair value hedge basis adjustment	3,323,398		3,264,051
Less ACL - loans	(21,235)	(21,787)	(23,542)	(23,984)	(21,788)	(19,834)
Loans receivable \| Commercial \| Income producing CRE
Classifications of loans
Total loans excluding fair value hedge basis adjustment	4,258,586		4,263,952
Less ACL - loans	(39,476)	(42,894)	(47,755)	(45,588)	(38,775)	(32,082)
Loans receivable \| Commercial \| Commercial & industrial
Classifications of loans
Total loans excluding fair value hedge basis adjustment	2,312,657		2,411,045
Less ACL - loans	(34,699)	(32,101)	(30,890)	(31,217)	(29,856)	(23,504)
Loans receivable \| Commercial \| Commercial construction
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,784,959		1,859,538
Less ACL - loans	(16,033)	(19,617)	(21,741)	(20,639)	(22,276)	(20,120)
Loans receivable \| Commercial \| Equipment financing
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,603,472		1,541,120
Less ACL - loans	(45,866)	(45,115)	(33,383)	(30,362)	(28,604)	(23,395)
Loans receivable \| Residential \| Commercial construction
Classifications of loans
Total loans excluding fair value hedge basis adjustment	188,820		301,650
Less ACL - loans	(1,486)	(1,384)	(1,833)	(2,874)	(3,446)	(2,049)
Loans receivable \| Residential \| Residential mortgage
Classifications of loans
Total loans excluding fair value hedge basis adjustment	3,263,509		3,198,928
Less ACL - loans	(34,303)	(28,612)	(28,219)	(26,884)	(25,431)	(20,809)
Loans receivable \| Residential \| Home equity
Classifications of loans
Total loans excluding fair value hedge basis adjustment	1,014,544		958,987
Less ACL - loans	(10,765)	(9,386)	(9,647)	(9,799)	(10,609)	(8,707)
Loans receivable \| Residential \| Manufactured housing
Classifications of loans
Total loans excluding fair value hedge basis adjustment	2,178		336,474
Less ACL - loans	(530)	(11,522)	(10,339)	(9,378)	(9,204)	(8,098)
Loans receivable \| Consumer
Classifications of loans
Total loans excluding fair value hedge basis adjustment	187,799		181,117
Less ACL - loans	$ (897)	$ (604)	$ (722)	$ (832)	$ (716)	$ (759)

Loans and Leases and Allowance for Credit Losses - Nonaccrual Loans by Loan Class (Details) - Loans receivable - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Nonaccrual loans
Nonaccrual loans with no allowance	$ 67,627	$ 30,747
Nonaccrual loans with an allowance	44,753	60,940
Nonaccrual loans	112,380	91,687
Commercial
Nonaccrual loans
Nonaccrual loans with no allowance	63,525	27,235
Nonaccrual loans with an allowance	20,815	29,837
Nonaccrual loans	84,340	57,072
Commercial \| Owner occupied CRE
Nonaccrual loans
Nonaccrual loans with no allowance	5,861	2,451
Nonaccrual loans with an allowance	1,922	643
Nonaccrual loans	7,783	3,094
Commercial \| Income producing CRE
Nonaccrual loans
Nonaccrual loans with no allowance	30,802	11,003
Nonaccrual loans with an allowance	420	19,125
Nonaccrual loans	31,222	30,128
Commercial \| Commercial & industrial
Nonaccrual loans
Nonaccrual loans with no allowance	20,391	11,940
Nonaccrual loans with an allowance	8,465	1,527
Nonaccrual loans	28,856	13,467
Commercial \| Commercial construction
Nonaccrual loans
Nonaccrual loans with no allowance	6,439	1,784
Nonaccrual loans with an allowance	917	94
Nonaccrual loans	7,356	1,878
Commercial \| Equipment financing
Nonaccrual loans
Nonaccrual loans with no allowance	32	57
Nonaccrual loans with an allowance	9,091	8,448
Nonaccrual loans	9,123	8,505
Residential \| Commercial construction
Nonaccrual loans
Nonaccrual loans with no allowance	55	398
Nonaccrual loans with an allowance	63	546
Nonaccrual loans	118	944
Residential \| Residential mortgage
Nonaccrual loans
Nonaccrual loans with no allowance	3,750	1,836
Nonaccrual loans with an allowance	18,101	12,108
Nonaccrual loans	21,851	13,944
Residential \| Home equity
Nonaccrual loans
Nonaccrual loans with no allowance	273	1,276
Nonaccrual loans with an allowance	3,838	2,496
Nonaccrual loans	4,111	3,772
Residential \| Manufactured housing
Nonaccrual loans
Nonaccrual loans with no allowance	0	0
Nonaccrual loans with an allowance	1,808	15,861
Nonaccrual loans	1,808	15,861
Consumer
Nonaccrual loans
Nonaccrual loans with no allowance	24	2
Nonaccrual loans with an allowance	128	92
Nonaccrual loans	$ 152	$ 94

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Lynn Harton [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 11, 2024, Lynn Harton, our President and Chief Executive Officer, entered into a 10b5-1 trading arrangement with a brokerage firm, intended to satisfy the affirmative defense of Rule 10b5-1(c), providing for the sale of 35,000 shares of United common stock beginning February 7, 2025 and continuing until February 28, 2025, or such earlier time as all shares covered by the trading arrangement are sold.
Name	Lynn Harton
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 11, 2024
Expiration Date	February 28, 2025
Arrangement Duration	170 days
Aggregate Available	35,000	35,000
Rich Bradshaw [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 13, 2024, Rich Bradshaw, President and Chief Banking Officer of United Community Bank, entered into a 10b5-1 trading arrangement with a brokerage firm, intended to satisfy the affirmative defense of Rule 10b5-1(c), providing for the sale of approximately $50,000 of United common stock during each of five designated periods of time between January 24, 2025 and February 23, 2026.
Name	Rich Bradshaw
Title	President and Chief Banking Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 13, 2024
Expiration Date	February 23, 2026
Arrangement Duration	528 days

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contractual Amount of Off-balance Sheet Instruments

The following table summarizes the contractual amount of off-balance sheet instruments as of the dates indicated.


(in thousands)	September 30, 2024		December 31, 2023
Financial instruments whose contract amounts represent credit risk:
Commitments to extend credit	$	3,922,384	$	4,305,483
Letters of credit	57,498		61,808

Schedule of Tax Credit and Certain Equity Method Investments

The following table summarizes, as of the dates indicated, tax credit and certain equity method investments:


(in thousands)	Balance Sheet Location	September 30, 2024		December 31, 2023
Investments in LIHTC:
Carrying amount	Other assets	$	54,161	$	48,867
Amount of future funding commitments included in carrying amount	Other liabilities	19,147		14,176
Lending exposure	Loans and leases held for investment	10,988		803
Renewable energy investments:
Carrying amount	Other assets	3,373		18,631

Amount of future funding commitments (1)	N/A	13,214		14,406
Fintech funds and certain other equity method investments:
Carrying amount	Other assets	35,962		33,720

Amount of future funding commitments not included in carrying amount	N/A	28,518		25,008

The following table presents a summary of tax credits and amortization expense associated with the United’s tax credit investment activity.


(in thousands)	Income Statement Location	Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024


Investments in LIHTC:
Income tax credits and other income tax benefits	Income tax expense	$	(1,996)		$	(5,989)
Amortization expense	Income tax expense	1,831			5,398

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Significant non-cash investing and financing transactions:
Commitments to fund other investments		$ 9,214	$ 16,410
Unsettled securities purchases		22,400	0
Right-of-use assets obtained in exchange for lease liabilities		14,351	4,131
Acquisitions:
Assets acquired		0	2,922,243
Liabilities assumed		0	2,527,654
Net assets acquired		0	394,589
Common stock issued and options converted	$ 87,679	$ 0	$ 394,140

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.24	$ 0.23	$ 0.70	$ 0.69

Assets and Liabilities Measured at Fair Value - Reconciliation of Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - Level 3 - Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Liabilities
Liabilities:
Beginning balance	$ 13,313	$ 12,564	$ 11,172	$ 12,840
Business combinations			0	0
Additions	58	0	58	170
Transfers from Level 2			925	0
Sales and settlements	0	0	0	0
Fair value adjustments included in OCI	0	0	0	0
Fair value adjustments included in earnings	(2,814)	1,074	(1,598)	628
Ending balance	10,557	13,638	10,557	13,638
Derivative Assets
Assets:
Beginning balance	12,933	11,872	10,642	11,513
Business combinations			0	0
Additions	1,274	0	4,102	0
Transfers from Level 2			484	0
Sales and settlements	(2,064)	0	(4,381)	(11)
Fair value adjustments included in OCI	0	0	0	0
Fair value adjustments included in earnings	(1,988)	1,207	(692)	1,577
Ending balance	10,155	13,079	10,155	13,079
SBA/USDA loan servicing rights
Assets:
Beginning balance	5,247	6,148	5,444	5,188
Business combinations			0	95
Additions	235	525	750	1,449
Transfers from Level 2			0	0
Sales and settlements	(197)	(418)	(751)	(869)
Fair value adjustments included in OCI	0	0	0	0
Fair value adjustments included in earnings	(348)	(824)	(506)	(432)
Ending balance	4,937	5,431	4,937	5,431
Residential mortgage servicing rights
Assets:
Beginning balance	38,014	37,194	35,897	36,559
Business combinations			0	0
Additions	1,091	826	2,869	2,306
Transfers from Level 2			0	0
Sales and settlements	(1,095)	(534)	(2,892)	(1,482)
Fair value adjustments included in OCI	0	0	0	0
Fair value adjustments included in earnings	(2,632)	748	(496)	851
Ending balance	35,378	38,234	35,378	38,234
Corporate Bonds
Assets:
Beginning balance	2,197	2,183	2,205	2,212
Business combinations			0	0
Additions	0	0	0	0
Transfers from Level 2			0	0
Sales and settlements	0	0	0	0
Fair value adjustments included in OCI	29	(4)	21	(33)
Fair value adjustments included in earnings	0	0	0	0
Ending balance	$ 2,226	$ 2,179	$ 2,226	$ 2,179

Derivatives and Hedging Activities - Fair Value of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional Amount	$ 5,337,671	$ 3,624,740
Derivative Asset
Total gross derivative instruments	42,128	50,352
Less: Amounts subject to master netting agreements	(5,857)	(4,683)
Less: Cash collateral received/pledged	(20,280)	(33,921)
Net amount	15,991	11,748
Derivative Liability
Total gross derivative instruments	64,594	84,811
Less: Amounts subject to master netting agreements	(5,857)	(4,683)
Less: Cash collateral received/pledged	(11,210)	(11,330)
Net amount	47,527	68,798
Derivative assets
Derivative Asset
Total gross derivative instruments	42,128	50,352
Derivative liabilities
Derivative Liability
Total gross derivative instruments	64,594	84,811
Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	2,600,955	925,511
Designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives designated as hedging instruments	9,925	13,168
Designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives designated as hedging instruments	0	0
Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	2,736,716	2,699,229
Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	32,203	37,184
Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	64,594	84,811
Cash flow hedge of subordinated debt \| Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	100,000	100,000
Cash flow hedge of subordinated debt \| Designated as hedging instrument \| Derivative assets
Derivative Asset
Cash flow hedge	9,925	13,168
Cash flow hedge of subordinated debt \| Designated as hedging instrument \| Derivative liabilities
Derivative Liability
Cash flow hedge	0	0
Cash flow hedges of trust preferred securities \| Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	20,000	20,000
Cash flow hedges of trust preferred securities \| Designated as hedging instrument \| Derivative assets
Derivative Asset
Cash flow hedge	0	0
Cash flow hedges of trust preferred securities \| Designated as hedging instrument \| Derivative liabilities
Derivative Liability
Cash flow hedge	0	0
Fair value hedges of AFS debt securities \| Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	830,955	655,511
Fair value hedges of AFS debt securities \| Designated as hedging instrument \| Derivative assets
Derivative Asset
Fair value hedge	0	0
Fair value hedges of AFS debt securities \| Designated as hedging instrument \| Derivative liabilities
Derivative Liability
Fair value hedge	0	0
Fair value hedges of loans \| Designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	1,650,000	150,000
Fair value hedges of loans \| Designated as hedging instrument \| Derivative assets
Derivative Asset
Fair value hedge	0	0
Fair value hedges of loans \| Designated as hedging instrument \| Derivative liabilities
Derivative Liability
Fair value hedge	0	0
Customer derivative positions \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	1,180,146	1,177,275
Customer derivative positions \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	6,913	3,461
Customer derivative positions \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	47,690	68,384
Dealer offsets to customer derivative positions \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	1,210,330	1,197,364
Dealer offsets to customer derivative positions \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	15,174	23,061
Dealer offsets to customer derivative positions \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	6,485	4,597
Risk participations \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	82,099	90,597
Risk participations \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	1	1
Risk participations \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	27	8
Mortgage banking - loan commitments \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	65,628	48,452
Mortgage banking - loan commitments \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	1,397	1,089
Mortgage banking - loan commitments \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	16	0
Mortgage banking - forward sales commitment \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	94,643	81,671
Mortgage banking - forward sales commitment \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	122	20
Mortgage banking - forward sales commitment \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	255	658
Bifurcated embedded derivatives \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	51,935	51,935
Bifurcated embedded derivatives \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	8,596	9,552
Bifurcated embedded derivatives \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	0	0
Dealer offsets to bifurcated embedded derivatives \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Notional Amount	51,935	51,935
Dealer offsets to bifurcated embedded derivatives \| Not designated as hedging instrument \| Derivative assets
Derivative Asset
Derivatives not designated as hedging instruments	0	0
Dealer offsets to bifurcated embedded derivatives \| Not designated as hedging instrument \| Derivative liabilities
Derivative Liability
Derivatives not designated as hedging instruments	$ 10,121	$ 11,164

Assets and Liabilities Measured at Fair Value - Presentation of Assets Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	$ 34,468	$ 36,984
FinTrust net assets held for sale	15,586
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	0	0
FinTrust net assets held for sale	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	0	0
FinTrust net assets held for sale	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	34,468	$ 36,984
FinTrust net assets held for sale	$ 15,586

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 916,153		$ 919,914	$ 896,718	$ 919,914	$ 751,174
Acquisitions	0			23,196	0	168,740
Measurement period adjustment - First Miami			1,340
Goodwill, ending balance	916,153	$ 916,153		919,914	916,153	919,914
Accumulated impairment losses on goodwill	306,000	306,000		306,000	306,000	306,000	$ 306,000	$ 306,000	$ 306,000
FinTrust
Goodwill [Roll Forward]
FinTrust goodwill write-down					(5,100)	0
Disposal Group, Held-for-Sale, Not Discontinued Operations \| FinTrust
Goodwill [Roll Forward]
FinTrust goodwill write-down	0	(5,100)		0	(5,100)	0
Goodwill, ending balance	9,060				9,060
First Miami Bancorp, Inc
Goodwill [Roll Forward]
Goodwill, beginning balance		$ 24,500
Measurement period adjustment - First Miami	$ 0			$ 0	$ 1,339	$ 0
Goodwill, ending balance			$ 24,500

- Definition

+ References

+ Details

Commitments and Contingencies - Tax Credits and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Other Commitments [Line Items]
Investment program, proportional amortization method, applied, amortization expense, statement of income or comprehensive income [extensible enumeration]	Income Tax Expense (Benefit)	Income Tax Expense (Benefit)
Investments in LIHTC:
Other Commitments [Line Items]
Income tax credits and other income tax benefits	$ (1,996)	$ (5,989)
Amortization expense	$ 1,831	$ 5,398

Commitment and Contingencies - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase and credit card loans	$ 4,340

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
Earnings Per Share - Narrative (Details) - shares	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Potentially dilutive instruments outstanding not included in EPS analysis (in shares)	0	1,968

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net of tax	$ 47,347	$ 47,866	$ 176,593	$ 173,454

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Assets and Liabilities Measured at Fair Value - Quantitative Information About Level 3 Fair Value Measurements for Fair Value on a Recurring Basis (Details) - Level 3 - Recurring	Sep. 30, 2024	Dec. 31, 2023
Minimum \| SBA/USDA loan servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.048	0.084
Minimum \| SBA/USDA loan servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.001	0.035
Minimum \| Residential mortgage servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.100	0.100
Minimum \| Residential mortgage servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.065	0.065
Minimum \| Corporate bonds \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Corporate bonds, measurement input	0.057	0.061
Minimum \| Derivative assets - mortgage \| Pull through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets, measurement input	0.730	0.600
Maximum \| SBA/USDA loan servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.235	0.250
Maximum \| SBA/USDA loan servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.398	0.374
Maximum \| Residential mortgage servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.125	0.150
Maximum \| Residential mortgage servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.777	0.299
Maximum \| Corporate bonds \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Corporate bonds, measurement input	0.064	0.067
Maximum \| Derivative assets - mortgage \| Pull through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets, measurement input	1	1
Weighted Average \| SBA/USDA loan servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.118	0.162
Weighted Average \| SBA/USDA loan servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing rights for SBA/USDA loans, measurement input	0.202	0.185
Weighted Average \| Residential mortgage servicing rights \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.100	0.100
Weighted Average \| Residential mortgage servicing rights \| Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Residential mortgage servicing rights, measurement input	0.087	0.080
Weighted Average \| Corporate bonds \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Corporate bonds, measurement input	0.062	0.065
Weighted Average \| Derivative assets - mortgage \| Pull through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets, measurement input	0.911	0.905

Assets and Liabilities Measured at Fair Value - Carrying Amount and Fair Values for Other Financial Instruments that are not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets:
HTM debt securities	$ 2,060,729	$ 2,095,620
Carrying Amount
Assets:
HTM debt securities	2,401,877	2,490,848
Loans and leases, net	17,758,809	18,110,684
Liabilities:
Deposits	23,253,102	23,310,611
Long-term debt	316,363	324,823
Fair Value
Assets:
HTM debt securities	2,060,729	2,095,620
Loans and leases, net	17,264,089	17,585,073
Liabilities:
Deposits	23,246,658	23,305,223
Long-term debt	305,683	310,060
Fair Value \| Level 1
Assets:
HTM debt securities	18,474	17,950
Loans and leases, net	0	0
Liabilities:
Deposits	0	0
Long-term debt	0	0
Fair Value \| Level 2
Assets:
HTM debt securities	2,042,255	2,077,670
Loans and leases, net	0	0
Liabilities:
Deposits	23,246,658	23,305,223
Long-term debt	0	0
Fair Value \| Level 3
Assets:
HTM debt securities	0	0
Loans and leases, net	17,264,089	17,585,073
Liabilities:
Deposits	0	0
Long-term debt	$ 305,683	$ 310,060

Stock-Based Compensation

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

United has an equity compensation plan that allows for grants of various share-based compensation. The general terms of the plan include a vesting period (usually four years) with an exercise period not to exceed ten years. Certain options and restricted stock unit awards provide for accelerated vesting if there is a change in control (as defined in the plan document). As of September 30, 2024, the plan covered 1.81 million shares that could be issued pursuant to additional awards granted under the plan.

The table below presents restricted stock unit and option activity for the nine months ended September 30, 2024.


	Restricted Stock Unit Awards			Options
	Shares	Weighted- Average Grant- Date Fair Value		Aggregate Intrinsic Value ($000)		Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value ($000)
Outstanding at December 31, 2023	929,367	$	28.85			406,737	$	21.19
Granted	514,326	29.30				—	—
Released / Exercised	(205,034)	26.70		$	5,740	(86,010)	20.37			$	637

Cancelled	(80,752)	28.01				(2,353)	26.05
Outstanding at September 30, 2024	1,157,907	29.52		33,672		318,374	21.37		4.5	2,454

Vested / Exercisable at September 30, 2024	—	—				318,374	21.37		4.5	2,454

No compensation expense relating to options was included in earnings for the nine months ended September 30, 2024 and 2023.

Compensation expense for restricted stock units and performance stock units without market conditions is based on the market value of United’s common stock on the date of grant. Compensation expense for performance stock units with market conditions is based on the grant date per share fair value, which was estimated using the Monte Carlo Simulation valuation model. United recognizes the impact of forfeitures as they occur. The value of restricted stock unit and performance stock unit awards is amortized into expense over the service period.

For the nine months ended September 30, 2024 and 2023, expense of $7.18 million and $6.54 million, respectively, was recognized related to restricted stock unit and performance stock unit awards granted to United employees, which was included in salaries and employee benefits expense. In addition, for the nine months ended September 30, 2024 and 2023, $546,000 and $555,000, respectively, was recognized in other expense for restricted stock unit awards granted to members of United’s Board.

A deferred income tax benefit related to stock-based compensation expense of $1.95 million and $1.81 million was included in the determination of income tax expense for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, there was $26.5 million of unrecognized expense related to non-vested restricted stock unit and performance stock unit awards granted under the plan. That cost is expected to be recognized over a weighted-average period of 2.7 years.

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Actual Results and Pro Forma Information

The actual results and pro forma information were as follows:


	Three Months Ended September 30, 2023				Nine Months Ended September 30, 2023
(in thousands)	Revenue		Net Income		Revenue		Net Income






Actual Progress results included in statement of income since acquisition date	$	16,934	$	7,569	$	41,555	$	12,667
Actual First Miami results included in statement of income since acquisition date	$	3,488	$	(3,330)	3,488		(3,330)
Supplemental consolidated pro forma as if Progress and First Miami had been acquired January 1, 2022	$	207,523	$	55,538	667,155		197,929

Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Investment securities, including tax exempt	$ 1,713	$ 1,722	$ 5,133	$ 5,563

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation United’s accounting and financial reporting policies conform to GAAP and reporting guidelines of banking regulatory authorities. The accompanying interim consolidated financial statements have not been audited. All material intercompany balances and transactions have been eliminated. A more detailed description of United’s accounting policies is included in its 2023 10-K. In management’s opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments are normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim periods. The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in United’s 2023 10-K. In May 2024, United officially moved its Holding Company headquarters from Blairsville, Georgia to Greenville, South Carolina. Effective in June 2024, the Bank changed its primary federal regulator from the FDIC to the Federal Reserve. Effective August 6, 2024, United transferred the listing of its securities from NASDAQ to the New York Stock Exchange. The common shares are now listed under the trading symbol UCB and the preferred Series I depositary shares are now listed under the trading symbol UCB PRI. Revision of Previously Issued Financial Statements During the second quarter of 2024, management corrected an immaterial error related to the loan vintage disclosure reported in previously issued financial statements for the period presented in the 2023 10-K. The revised December 31, 2023 loan vintage disclosure was included in United’s second quarter Form 10-Q and is included in this Form 10-Q as well. The error relates to the incorrect determination of the vintage year for a population of term loans and gross charge-offs. The correction of this error resulted in the reclassification of certain term loans and gross charge-offs to older vintage categories than originally reported. The correction of this error did not result in any reclassification between risk categories presented. The revision did not change the total amount of loans or gross charge-offs reported and did not affect the Company's net income, cash flows or equity. We evaluated the aggregate effects of this error to our previously issued financial statements in accordance with SEC Staff Accounting Bulletins No. 99 and No. 108 and, based upon quantitative and qualitative factors, determined that the error was not material to the previously issued financial statements and disclosures included in our 2023 10-K.

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The carrying amount of goodwill and other intangible assets as of the dates indicated is summarized below.


(in thousands)	September 30, 2024		December 31, 2023
Core deposit intangible	$	100,694	$	104,174
Less: accumulated amortization	(47,779)		(40,495)
Net core deposit intangible	52,915		63,679
Customer relationship intangible	8,400		8,400
Less: accumulated amortization	(2,351)		(1,906)
Net customer relationship intangible	6,049		6,494
Total intangibles subject to amortization, net (1)	58,964		70,173
Goodwill	916,153		919,914
Total goodwill and other intangible assets, net	$	975,117	$	990,087

(1) As intangible assets become fully amortized, they are excluded from balances presented.

At September 30, 2024, FinTrust met the criteria to be classified as held for sale. In the second quarter of 2024, at the time of transfer to held for sale, the carrying amount of FinTrust’s net assets held for sale was compared to fair value, less cost to sell, which resulted in a $5.10 million write-down to the goodwill associated with FinTrust. The write-down is reflected in other noninterest expense for the nine months ended September 30, 2024 in the Consolidated Statements of Income. As of September 30, 2024, FinTrust had total assets of $16.0 million, including $9.06 million of goodwill and a $6.02 million customer relationship intangible included in the table above. When United closed on the sale of FinTrust on October 1, 2024, the related intangibles were disposed of as of that date.

The following table summarizes the changes in the carrying amounts of goodwill for the periods indicated.


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023

Balance, beginning of period (1)	$	916,153	$	896,718	$	919,914	$	751,174
Acquisitions	—		23,196		—		168,740
Measurement period adjustment - First Miami (2)	—		—		1,339		—
FinTrust goodwill write-down	—		—		(5,100)		—
Balance, end of period (1)	$	916,153	$	919,914	$	916,153	$	919,914

(1) Goodwill balances are shown net of accumulated impairment losses of $306 million incurred prior to 2023.

(2) See Note 4 for further details.

The estimated aggregate amortization expense for future periods for finite-lived intangibles, excluding the customer relationship intangible associated with FinTrust, is as follows:


(in thousands)
Year
Remainder of 2024	$	3,387
2025	12,272
2026	10,394
2027	8,516
2028	6,734
Thereafter	11,637
Total	$	52,940

Recently Adopted Accounting Standards	9 Months Ended
Recently Adopted Accounting Standards	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In March 2023, the FASB issued ASU No. 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. The update broadens the application of PAM and related disclosures to tax equity investments other than LIHTC, providing certain conditions are met. The election to apply PAM must be made on a tax-credit-program by tax-credit-program basis rather than at the reporting entity level or to individual investments. United adopted this update using a modified retrospective transition method as of January 1, 2024, with no impact to shareholders’ equity.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
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-Section 65
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-7

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
-Paragraph 1
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
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+ Details

Loans and Leases and Allowance for Credit Losses - Loans by Aging Category and Accrual Status (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	$ 17,939,922	$ 18,316,862
Commercial \| Owner occupied CRE
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,323,398	3,264,051
Commercial \| Income producing CRE
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	4,258,586	4,263,952
Commercial \| Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,312,657	2,411,045
Commercial \| Commercial construction
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,784,959	1,859,538
Commercial \| Equipment financing
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,603,472	1,541,120
Residential \| Commercial construction
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	188,820	301,650
Residential \| Residential mortgage
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,263,509	3,198,928
Residential \| Home equity
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,014,544	958,987
Residential \| Manufactured housing
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,178	336,474
Consumer
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	187,799	181,117
Loans receivable
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	17,939,922	18,316,862
Nonaccrual Loans	112,380	91,687
Loans receivable \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	17,794,281	18,171,292
Loans receivable \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	24,987	43,941
Loans receivable \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	8,274	9,942
Loans receivable \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	13,283,072	13,339,706
Nonaccrual Loans	84,340	57,072
Loans receivable \| Commercial \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	13,179,896	13,256,853
Loans receivable \| Commercial \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	14,298	20,650
Loans receivable \| Commercial \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	4,538	5,131
Loans receivable \| Commercial \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial \| Owner occupied CRE
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,323,398	3,264,051
Nonaccrual Loans	7,783	3,094
Loans receivable \| Commercial \| Owner occupied CRE \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,310,503	3,258,015
Loans receivable \| Commercial \| Owner occupied CRE \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	5,112	2,942
Loans receivable \| Commercial \| Owner occupied CRE \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	0	0
Loans receivable \| Commercial \| Owner occupied CRE \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial \| Income producing CRE
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	4,258,586	4,263,952
Nonaccrual Loans	31,222	30,128
Loans receivable \| Commercial \| Income producing CRE \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	4,223,657	4,230,140
Loans receivable \| Commercial \| Income producing CRE \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,241	3,684
Loans receivable \| Commercial \| Income producing CRE \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	466	0
Loans receivable \| Commercial \| Income producing CRE \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial \| Commercial & industrial
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,312,657	2,411,045
Nonaccrual Loans	28,856	13,467
Loans receivable \| Commercial \| Commercial & industrial \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,280,604	2,388,076
Loans receivable \| Commercial \| Commercial & industrial \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,549	8,129
Loans receivable \| Commercial \| Commercial & industrial \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	648	1,373
Loans receivable \| Commercial \| Commercial & industrial \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial \| Commercial construction
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,784,959	1,859,538
Nonaccrual Loans	7,356	1,878
Loans receivable \| Commercial \| Commercial construction \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,776,776	1,857,660
Loans receivable \| Commercial \| Commercial construction \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	721	0
Loans receivable \| Commercial \| Commercial construction \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	106	0
Loans receivable \| Commercial \| Commercial construction \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Commercial \| Equipment financing
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,603,472	1,541,120
Nonaccrual Loans	9,123	8,505
Loans receivable \| Commercial \| Equipment financing \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,588,356	1,522,962
Loans receivable \| Commercial \| Equipment financing \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,675	5,895
Loans receivable \| Commercial \| Equipment financing \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,318	3,758
Loans receivable \| Commercial \| Equipment financing \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Residential \| Commercial construction
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	188,820	301,650
Nonaccrual Loans	118	944
Loans receivable \| Residential \| Commercial construction \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	187,751	299,230
Loans receivable \| Residential \| Commercial construction \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	170	1,255
Loans receivable \| Residential \| Commercial construction \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	781	221
Loans receivable \| Residential \| Commercial construction \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Residential \| Residential mortgage
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,263,509	3,198,928
Nonaccrual Loans	21,851	13,944
Loans receivable \| Residential \| Residential mortgage \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	3,232,404	3,179,329
Loans receivable \| Residential \| Residential mortgage \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	7,767	4,622
Loans receivable \| Residential \| Residential mortgage \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,487	1,033
Loans receivable \| Residential \| Residential mortgage \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Residential \| Home equity
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,014,544	958,987
Nonaccrual Loans	4,111	3,772
Loans receivable \| Residential \| Home equity \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,007,023	950,841
Loans receivable \| Residential \| Home equity \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,177	4,106
Loans receivable \| Residential \| Home equity \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	1,233	268
Loans receivable \| Residential \| Home equity \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Residential \| Manufactured housing
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	2,178	336,474
Nonaccrual Loans	1,808	15,861
Loans receivable \| Residential \| Manufactured housing \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	289	304,794
Loans receivable \| Residential \| Manufactured housing \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	0	12,622
Loans receivable \| Residential \| Manufactured housing \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	81	3,197
Loans receivable \| Residential \| Manufactured housing \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	0	0
Loans receivable \| Consumer
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	187,799	181,117
Nonaccrual Loans	152	94
Loans receivable \| Consumer \| Current Loans
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	186,918	180,245
Loans receivable \| Consumer \| Loans Past Due, 30 - 59 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	575	686
Loans receivable \| Consumer \| Loans Past Due, 60 - 89 Days
Financing Receivable, Past Due [Line Items]
Total loans excluding fair value hedge basis adjustment	154	92
Loans receivable \| Consumer \| Loans Past Due, > 90 Days
Financing Receivable, Past Due [Line Items]
Total loans	$ 0	$ 0