Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amount and Fair Value of Derivative Financial Instruments

The following tables disclose the derivative instruments’ location on the Company’s Consolidated Balance Sheets and the notional amount and fair value of those instruments at June 30, 2018 and December 31, 2017.

	Asset Derivatives
	June 30, 2018						December 31, 2017
	Balance Sheet Location		Notional Amount		Fair Value		Balance Sheet Location		Notional Amount		Fair Value
Derivatives designated as hedging instruments Fair Value Hedges:
Interest rate swap contracts (hedging commercial loans)		Other assets	$	87,672	$	3,329		Other assets	$	71,831	$	538
Total derivatives designated as hedging instruments			$	87,672	$	3,329			$	71,831	$	538
Derivatives not designated as hedging instruments
Forward loan sales commitments		Other assets	$	22,107	$	112		Other assets	$	31,024	$	2
Interest rate lock commitments		Other assets		182,030		6,541		Other assets		148,866		4,559
Total derivatives not designated as hedging instruments			$	204,137	$	6,653			$	179,890	$	4,561
Total asset derivatives			$	291,809	$	9,982			$	251,721	$	5,099
	Liability Derivatives
	June 30, 2018						December 31, 2017
	Balance Sheet Location		Notional Amount		Fair Value		Balance Sheet Location		Notional Amount		Fair Value
Derivatives designated as hedging instruments Fair Value Hedges:
Interest rate swap contracts (hedging commercial loans)		Other liabilities	$	0	$	0		Other liabilities	$	18,795	$	165
Total derivatives designated as hedging instruments			$	0	$	0			$	18,795	$	165
Derivatives not designated as hedging instruments
TBA mortgage-backed securities		Other liabilities	$	343,000	$	1,422		Other liabilities	$	236,500	$	312
Interest rate lock commitments		Other liabilities		0		0		Other liabilities		0		0
Total derivatives not designated as hedging instruments			$	343,000	$	1,422			$	236,500	$	312
Total liability derivatives			$	343,000	$	1,422			$	255,295	$	477

Schedule of Derivative Financial Instruments on Statement of Income

The effect of United’s derivative financial instruments on its unaudited Consolidated Statements of Income for the three and six months ended June 30, 2018 and 2017 are presented as follows:

			Three Months Ended
	Income  Statement Location		June 30, 2018			June 30, 2017
Derivatives in hedging relationships Fair Value Hedges:
Interest rate swap contracts		Interest income/(expense)	$	24		$	(282	)
Total derivatives in hedging relationships			$	24		$	(282	)
Derivatives not designated as hedging instruments
Forward loan sales commitments		Income from Mortgage Banking Activities		112			(170	)
TBA mortgage-backed securities		Income from Mortgage Banking Activities		(660	)		2,784
Interest rate lock commitments		Income from Mortgage Banking Activities		2,888			1,019
Total derivatives not designated as hedging instruments			$	2,340		$	3,633
Total derivatives			$	2,364		$	3,351
			Six Months Ended
	Income Statement Location		June 30, 2018			June 30, 2017
Derivatives in fair value hedging relationships Fair Value Hedges:
Interest rate swap contracts		Interest income/(expense)	$	(18	)	$	(440	)
Cash Flow Hedges:
Forward loan sales commitments		Other income		0			0
Total derivatives in hedging relationships			$	(18	)	$	(440	)
Derivatives not designated as hedging instruments
Forward loan sales commitments		Income from Mortgage Banking Activities		185			(170	)
TBA mortgage-backed securities		Income from Mortgage Banking Activities		(1,110	)		2,784
Interest rate lock commitments		Income from Mortgage Banking Activities		1,619			1,019
Total derivatives not designated as hedging instruments			$	694		$	3,633
Total derivatives			$	676		$	3,193