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Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Information Related to Statutory Trusts
Information related to United’s statutory trusts is presented in the table below:
 
Description
  
Issuance Date
  
Amount of
Capital
Securities Issued
 
  
Stated Interest Rate
  
Maturity Date
United Statutory Trust III
  
December 17, 2003
  
$
  20,000
 
  
3-month
LIBOR + 2.85%
  
December 17, 2033
United Statutory Trust IV
  
December 19, 2003
  
$
  25,000
 
  
3-month
LIBOR + 2.85%
  
January 23, 2034
United Statutory Trust V
  
July 12, 2007
  
$
  50,000
 
  
3-month
LIBOR + 1.55%
  
October 1, 2037
United Statutory Trust VI
  
September 20, 2007
  
$
  30,000
 
  
3-month
LIBOR + 1.30%
  
December 15, 2037
Premier Statutory Trust II
  
September 25, 2003
  
$
 6,000
 
  
3-month
LIBOR + 3.10%
  
October 8, 2033
Premier Statutory Trust III
  
May 16, 2005
  
$
  8,000
 
  
3-month
LIBOR + 1.74%
  
June 15, 2035
Premier Statutory Trust IV
  
June 20, 2006
  
$
  14,000
 
  
3-month
LIBOR + 1.55%
  
September 23, 2036
Premier Statutory Trust V
  
December 14, 2006
  
$
  10,000
 
  
3-month
LIBOR + 1.61%
  
March 1, 2037
Centra Statutory Trust I
  
September 20, 2004
  
$
  10,000
 
  
3-month
LIBOR + 2.29%
  
September 20, 2034
Centra Statutory Trust II
  
June 15, 2006
  
$
  10,000
 
  
3-month
LIBOR + 1.65%
  
July 7, 2036
Virginia Commerce Trust II
  
December 19, 2002
  
$
  15,000
 
  
6-month
LIBOR + 3.30%
  
December 19, 2032
Virginia Commerce Trust III
  
December 20, 2005
  
$
  25,000
 
  
3-month
LIBOR + 1.42%
  
February 23, 2036
Cardinal Statutory Trust I
  
July 27, 2004
  
$
  20,000
 
  
3-month
LIBOR + 2.40%
  
September 15, 2034
UFBC Capital Trust I
  
December 30, 2004
  
$
  5,000
 
  
3-month
LIBOR + 2.10%
  
March 15, 2035
Carolina Financial Capital Trust I
  
December 19, 2002
  
$
  5,000
 
  
Prime + 0.50%
  
December 31, 2032
Carolina Financial Capital Trust II
  
November 5, 2003
  
$
  10,000
 
  
3-month
LIBOR + 3.05%
  
January 7, 2034
Greer Capital Trust I
  
October 12, 2004
  
$
  6,000
 
  
3-month
LIBOR + 2.20%
  
October 18, 2034
Greer Capital Trust II
  
December 28, 2006
  
$
  5,000
 
  
3-month
LIBOR + 1.73%
  
January 30, 2037
First South Preferred Trust I
  
September 26, 2003
  
$
  10,000
 
  
3-month
LIBOR + 2.95%
  
September 30, 2033
Summary of Quantitative Information Related to Significant Involvement in Unconsolidated Variable Interest Entities
The following table summarizes quantitative information about United’s significant involvement in unconsolidated VIEs:
 
 
  
As of June 30, 2020
 
  
As of December 31, 2019
 
 
  
Aggregate

Assets
 
  
Aggregate

Liabilities
 
  
Risk Of

Loss
(1)
 
  
Aggregate

Assets
 
  
Aggregate

Liabilities
 
  
Risk Of

Loss
(1)
 
Trust preferred securities
  
$
295,263
 
  
$
284,657
 
  
$
10,606
 
  
$
257,941
 
  
$
248,680
 
  
$
9,261
 
 
(1)   Represents investment in VIEs.