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Assets and Liabilities Measured at Fair Value (Tables)
 3 Months Ended
Mar. 31, 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)
March 31, 2024Level 1Level 2Level 3Total
Assets:    
AFS debt securities:    
U.S. Treasuries$398,780 $— $— $398,780 
U.S. Government agencies & GSEs— 297,426 — 297,426 
State and political subdivisions— 163,263 — 163,263 
Residential MBS— 1,517,893 — 1,517,893 
Commercial MBS— 673,081 — 673,081 
Corporate bonds— 193,740 2,160 195,900 
Asset-backed securities— 147,056 — 147,056 
Equity securities with readily determinable fair values4,553 1,787 — 6,340 
Mortgage loans held for sale— 38,140 — 38,140 
Deferred compensation plan assets13,124 — — 13,124 
Servicing rights for SBA/USDA loans— — 5,507 5,507 
Residential mortgage servicing rights— — 37,358 37,358 
Derivative financial instruments— 40,391 12,811 53,202 
Total assets$416,457 $3,072,777 $57,836 $3,547,070 
Liabilities:
Deferred compensation plan liability$13,119 $— $— $13,119 
Derivative financial instruments— 78,228 13,185 91,413 
Total liabilities$13,119 $78,228 $13,185 $104,532 

(in thousands)
December 31, 2023Level 1Level 2Level 3Total
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 values5,767 1,628 — 7,395 
Mortgage loans held for sale— 33,008 — 33,008 
Deferred compensation plan assets12,791 — — 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.
20242023
(in thousands)Derivative
Assets		Derivative
Liabilities		SBA/USDA loan servicing rightsResidential mortgage servicing rightsCorporate BondsDerivative
Assets		Derivative
Liabilities		SBA/USDA loan servicing rightsResidential mortgage servicing rightsCorporate Bonds
Three Months Ended March 31,
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 — — 
Additions1,466 — 170 718 — — 3 460 632 — 
Transfers from Level 2484 925 — — — — — — — — 
Sales and settlements(923)— (241)(760)— (11)— (220)(452)— 
Fair value adjustments included in OCI— — — — (45)— — — — 15 
Fair value adjustments included in earnings1,142 1,088 134 1,503 — (154)(1,648)766 (658)— 
Ending balance$12,811 $13,185 $5,507 $37,358 $2,160 $11,348 $11,195 $6,289 $36,081 $2,227 
Schedule of Reconciliation of Liabilities 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.
20242023
(in thousands)Derivative
Assets		Derivative
Liabilities		SBA/USDA loan servicing rightsResidential mortgage servicing rightsCorporate BondsDerivative
Assets		Derivative
Liabilities		SBA/USDA loan servicing rightsResidential mortgage servicing rightsCorporate Bonds
Three Months Ended March 31,
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 — — 
Additions1,466 — 170 718 — — 3 460 632 — 
Transfers from Level 2484 925 — — — — — — — — 
Sales and settlements(923)— (241)(760)— (11)— (220)(452)— 
Fair value adjustments included in OCI— — — — (45)— — — — 15 
Fair value adjustments included in earnings1,142 1,088 134 1,503 — (154)(1,648)766 (658)— 
Ending balance$12,811 $13,185 $5,507 $37,358 $2,160 $11,348 $11,195 $6,289 $36,081 $2,227 
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 LiabilitiesValuation TechniqueSignificant Unobservable InputsMarch 31, 2024December 31, 2023
RangeWeighted AverageRangeWeighted Average
SBA/USDA loan servicing rightsDiscounted cash flowDiscount rate
3.6% - 25.0%
12.7 %
8.4% - 25.0%
16.2 %
Prepayment rate
 2.0 - 38.0
19.3 
3.5 - 37.4
18.5 
Residential mortgage servicing rightsDiscounted cash flowDiscount rate
10.0 - 12.5
10.1 
10.0 - 15.0
10.0 
Prepayment rate
6.5 - 30.0
7.9 
6.5 - 29.9
8.0 
Corporate bondsDiscounted cash flowDiscount rate
6.6 - 7.2
7.0 
6.1 - 6.7
6.5 
Derivative assets - mortgageInternal modelPull through rate
64.0 - 100
90.5 
60.0 - 100
90.5 
Derivative assets and liabilities - otherDealer pricedDealer pricedN/AN/AN/AN/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)March 31, 2024December 31, 2023
Outstanding principal balance$36,951 $31,788 
Fair value38,140 33,008 

Gain (Loss) from Change in Fair Value on Mortgage Loans Held for Sale
LocationThree Months Ended
March 31,
(in thousands)20242023
 Mortgage loan gains and other related fees$(31)$231 
Schedule of Presentation of Assets Measured at Fair Value on Nonrecurring Basis The following table presents the fair value hierarchy and carrying value of assets that were still held as of March 31, 2024 and December 31, 2023, for which a nonrecurring fair value adjustment was recorded during the year-to-date periods presented.
(in thousands)Level 1Level 2Level 3Total
March 31, 2024    
Loans held for investment$— $— $15,579 $15,579 
December 31, 2023
Loans held for investment$— $— $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 AmountLevel 1Level 2Level 3Total
March 31, 2024     
Assets:     
HTM debt securities$2,465,133 $17,779 $2,025,133 $— $2,042,912 
Loans and leases, net18,163,910 — — 17,622,063 17,622,063 
Liabilities:
Deposits23,332,009 — 23,320,033 — 23,320,033 
Long-term debt324,854 — — 310,182 310,182 
December 31, 2023
Assets:
HTM debt securities$2,490,848 $17,950 $2,077,670 $— $2,095,620 
Loans and leases, net18,110,684 — — 17,585,073 17,585,073 
Liabilities:
Deposits23,310,611 — 23,305,223 — 23,305,223 
Long-term debt324,823 — — 310,060 310,060