UNITED COMMUNITY BANKS INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
UCB$37.42-0.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Comprehensive Income (unaudited)
UNITED COMMUNITY BANKS, INC.
Consolidated Statements of Comprehensive Income (Unaudited)
| Three Months Ended March 31, | |||
|---|---|---|---|
| (in thousands) | Before-taxAmount | Tax(Expense)Benefit | Net of TaxAmount |
| Net income | $80,835 | $(18,204) | $62,631 |
| Other comprehensive income: | |||
| Unrealized gains on available-for-sale securities | 356 | (209) | 147 |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 2,063 | (493) | 1,570 |
| Derivative instruments designated as cash flow hedges: | |||
| Unrealized holding gains on derivatives | 2,524 | (645) | 1,879 |
| Gains on derivative instruments realized in net income | (1,440) | 368 | (1,072) |
| Net cash flow hedge activity | 1,084 | (277) | 807 |
| Amortization of defined benefit pension plan net periodic pension cost components | 44 | (11) | 33 |
| Total other comprehensive income | 3,547 | (990) | 2,557 |
| Comprehensive income | $84,382 | $(19,194) | $65,188 |
| Net income | $80,091 | $(17,791) | $62,300 |
| Other comprehensive income: | |||
| Unrealized gains on available-for-sale securities: | |||
| Unrealized holding gains | 43,279 | (10,284) | 32,995 |
| Reclassification adjustment for losses included in net income | 1,644 | (374) | 1,270 |
| Net unrealized gains | 44,923 | (10,658) | 34,265 |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 2,968 | (720) | 2,248 |
| Derivative instruments designated as cash flow hedges: | |||
| Unrealized holding losses on derivatives | (1,202) | 307 | (895) |
| Gains on derivative instruments realized in net income | (822) | 210 | (612) |
| Net cash flow hedge activity | (2,024) | 517 | (1,507) |
| Amortization of defined benefit pension plan net periodic pension cost components | 61 | (16) | 45 |
| Total other comprehensive income | 45,928 | (10,877) | 35,051 |
| Comprehensive income | $126,019 | $(28,668) | $97,351 |
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