UNITED COMMUNITY BANKS INC
For the period ended Jun 30, 2024. Filed Aug 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.
Jun 30, 2024 · Filed Aug 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 June 30, · Six Months Ended June 30, | ||||||
|---|---|---|---|---|---|---|
| (in thousands) | Before-taxAmount | Tax (Expense)Benefit | Net of TaxAmount | Before-taxAmount | Tax(Expense)Benefit | Net of TaxAmount |
| Net income | $85,977 | $(19,362) | $66,615 | $166,812 | $(37,566) | $129,246 |
| Other comprehensive income: | ||||||
| Unrealized gains on available-for-sale securities | 1,348 | (773) | 575 | 1,704 | (982) | 722 |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 2,474 | (702) | 1,772 | 4,537 | (1,195) | 3,342 |
| Derivative instruments designated as cash flow hedges: | ||||||
| Unrealized holding gains on derivatives | 1,000 | (208) | 792 | 3,524 | (853) | 2,671 |
| Gains on derivative instruments realized in net income | (1,438) | 363 | (1,075) | (2,878) | 731 | (2,147) |
| Net cash flow hedge activity | (438) | 155 | (283) | 646 | (122) | 524 |
| Amortization of defined benefit pension plan net periodic pension cost components | 46 | (12) | 34 | 90 | (23) | 67 |
| Total other comprehensive income | 3,430 | (1,332) | 2,098 | 6,977 | (2,322) | 4,655 |
| Comprehensive income | $89,407 | $(20,694) | $68,713 | $173,789 | $(39,888) | $133,901 |
| Net income | $81,513 | $(18,225) | $63,288 | $161,604 | $(36,016) | $125,588 |
| Other comprehensive income: | ||||||
| Unrealized (losses) gains on available-for-sale securities: | ||||||
| Unrealized holding (losses) gains | (19,753) | 4,782 | (14,971) | 23,526 | (5,502) | 18,024 |
| Reclassification adjustment for losses included in net income | — | — | — | 1,644 | (374) | 1,270 |
| Net unrealized (losses) gains | (19,753) | 4,782 | (14,971) | 25,170 | (5,876) | 19,294 |
| Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | 2,518 | (604) | 1,914 | 5,486 | (1,324) | 4,162 |
| Derivative instruments designated as cash flow hedges: | ||||||
| Unrealized holding gains on derivatives | 3,303 | (843) | 2,460 | 2,101 | (536) | 1,565 |
| Gains on derivative instruments realized in net income | (1,234) | 315 | (919) | (2,056) | 525 | (1,531) |
| Net cash flow hedge activity | 2,069 | (528) | 1,541 | 45 | (11) | 34 |
| Amortization of defined benefit pension plan net periodic pension cost components | 61 | (15) | 46 | 122 | (31) | 91 |
| Total other comprehensive (loss) income | (15,105) | 3,635 | (11,470) | 30,823 | (7,242) | 23,581 |
| Comprehensive income | $66,408 | $(14,590) | $51,818 | $192,427 | $(43,258) | $149,169 |
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