UNITED BANKSHARES INC/WV, 10-K filed on 2/27/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2025
Jan. 31, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Annual Report true    
Document Transition Report false    
Document Fiscal Year Focus 2025    
Document Period End Date Dec. 31, 2025    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Entity Registrant Name UNITED BANKSHARES INC/WV    
Entity Central Index Key 0000729986    
Entity Current Reporting Status Yes    
Trading Symbol UBSI    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Small Business false    
Entity Common Stock, Shares Outstanding   139,419,485  
Entity Public Float     $ 4,995,534,716
Entity Interactive Data Current Yes    
Title of 12(b) Security Common Stock    
Entity File Number 002-86947    
Security Exchange Name NASDAQ    
Entity Tax Identification Number 55-0641179    
Entity Address, Address Line One 300 United Center    
Entity Address, Address Line Two 500 Virginia Street, East    
Entity Address, City or Town Charleston    
Entity Address, State or Province WV    
Entity Address, Postal Zip Code 25301    
City Area Code 304    
Local Phone Number 424-8716    
Entity Incorporation, State or Country Code WV    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer Yes    
ICFR Auditor Attestation Flag true    
Auditor Firm ID 42    
Auditor Name Ernst & Young LLP    
Auditor Location Charleston, WV, USA    
Document Financial Statement Error Correction [Flag] false    
v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 247,613,000 $ 240,655,000
Interest-bearing deposits with other banks 2,293,279,000 2,050,321,000
Federal funds sold 1,358,000 1,268,000
Total cash and cash equivalents 2,542,250,000 2,292,244,000
Securities available for sale at estimated fair value (amortized cost-$3,264,860 at December 31, 2025 and $3,282,690 at December 31, 2024, allowance for credit losses of $0 at December 31, 2025 and December 31, 2024) 3,059,452,000 2,959,719,000
Securities held to maturity, net of allowance for credit losses of $16 at December 31, 2025 and $18 at December 31, 2024 (estimated fair value-$1,020 at December 31, 2025 and December 31, 2024) 1,004,000 1,002,000
Equity securities at estimated fair value 34,760,000 21,058,000
Other investment securities 305,184,000 277,517,000
Loans held for sale measured using fair value option 31,277,000 44,360,000
Loans and leases 24,720,620,000 21,680,498,000
Less: Unearned income (11,498,000) (7,005,000)
Loans and leases, net of unearned income 24,709,122,000 21,673,493,000
Less: Allowance for loan and lease losses (297,518,000) (271,844,000)
Net loans and leases 24,411,604,000 21,401,649,000
Bank premises and equipment 208,831,000 186,131,000
Operating lease right-of-use assets 89,312,000 81,742,000
Goodwill 2,018,848,000 1,888,889,000
Bank-owned life insurance ("BOLI") 547,127,000 497,181,000
Accrued interest receivable 109,232,000 102,412,000
Other assets 301,400,000 269,641,000
TOTAL ASSETS 33,660,281,000 30,023,545,000
Deposits:    
Noninterest-bearing 6,573,630,000 6,135,413,000
Interest-bearing 20,487,309,000 17,826,446,000
Total deposits 27,060,939,000 23,961,859,000
Borrowings:    
Securities sold under agreements to repurchase 198,573,000 176,090,000
Federal Home Loan Bank ("FHLB") borrowings 250,000,000 260,199,000
Other long-term borrowings 281,817,000 280,221,000
Reserve for lending-related commitments 35,075,000 34,911,000
Operating lease liabilities 95,392,000 86,771,000
Accrued expenses and other liabilities 242,502,000 230,271,000
TOTAL LIABILITIES 28,164,298,000 25,030,322,000
Shareholders' Equity    
Preferred stock, $1.00 par value; Authorized-50,000,000 shares, none issued 0 0
Common stock, $2.50 par value; Authorized-200,000,000 shares; issued-150,856,999 and 142,694,816 at December 31, 2025 and December 31, 2024, respectively, including 10,976,752 and 7,348,188 shares in treasury at December 31, 2025 and December 31, 2024, respectively 377,142,000 356,737,000
Surplus 3,468,869,000 3,196,154,000
Retained earnings 2,170,327,000 1,917,726,000
Accumulated other comprehensive loss (138,927,000) (223,903,000)
Treasury stock, at cost (381,428,000) (253,491,000)
TOTAL SHAREHOLDERS' EQUITY 5,495,983,000 4,993,223,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 33,660,281,000 $ 30,023,545,000
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Securities available for sale, amortized cost $ 3,264,860 $ 3,282,690
Securities held to maturity $ 1,020 $ 1,020
Preferred stock, par value $ 1 $ 1
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 0
Common stock, par value $ 2.5 $ 2.5
Common stock, shares authorized 200,000,000 200,000,000
Common stock, shares issued 150,856,999 142,694,816
Common stock, shares in treasury 10,976,752 7,348,188
Allowance for credit losses on securities held for sale $ 0 $ 0
Allowances for credit losses on securities held to maturity $ 16 $ 18
v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income      
Interest and fees on loans and leases $ 1,480,112 $ 1,302,604 $ 1,203,186
Interest on federal funds sold and other short-term investments 93,700 66,207 47,069
Interest and dividends on securities:      
Taxable 107,265 128,731 144,420
Tax-exempt 4,776 4,579 6,645
Total interest income 1,685,853 1,502,121 1,401,320
Interest expense      
Interest on deposits 554,491 539,805 391,094
Interest on short-term borrowings 5,801 7,966 6,449
Interest on long-term borrowings 23,397 43,282 83,853
Total interest expense 583,689 591,053 481,396
Net interest income 1,102,164 911,068 919,924
Provision for credit losses 53,866 25,153 31,153
Net interest income after provision for credit losses 1,048,298 885,915 888,771
Other income      
Income from bank-owned life insurance 13,199 11,225 8,330
Mortgage loan servicing income 0 8,958 13,746
Net investment securities gains (losses) 11,170 (7,720) (7,646)
Other income 7,190 7,721 11,056
Total other income 135,154 123,695 135,258
Other expense      
Employee compensation 252,054 234,618 230,809
Employee benefits 54,333 53,621 48,368
Net occupancy expense 49,794 46,084 46,426
Other real estate owned ("OREO") expense 892 576 1,355
Net gains on the sales of OREO properties (148) (75) (60)
Equipment expense 34,917 29,686 29,731
Data processing expense 32,622 29,646 29,395
Mortgage loan servicing expense and impairment 0 2,694 5,596
Bankcard processing expense 2,342 2,490 2,192
FDIC insurance expense 17,022 19,735 30,376
Other expense 156,224 125,956 136,036
Total other expense 600,052 545,031 560,224
Income before income taxes 583,400 464,579 463,805
Income taxes 118,797 91,583 97,492
Net income $ 464,603 $ 372,996 $ 366,313
Earnings per common share:      
Basic $ 3.28 $ 2.76 $ 2.72
Diluted 3.27 2.75 2.71
Dividends per common share $ 1.49 $ 1.48 $ 1.45
Average outstanding shares:      
Basic 141,497,205 134,947,592 134,505,058
Diluted 141,827,360 135,225,417 134,753,820
Fees from trust services [Member]      
Other income      
Revenue from contract $ 19,762 $ 19,450 $ 18,318
Fees from brokerage services [Member]      
Other income      
Revenue from contract 22,729 20,277 16,911
Fees from deposit services [Member]      
Other income      
Revenue from contract 38,995 37,183 37,076
Bankcard fees and merchant discounts [Member]      
Other income      
Revenue from contract 7,913 7,059 7,013
Other service charges, commissions, and fees [Member]      
Other income      
Revenue from contract 4,629 3,485 3,861
Income from mortgage banking activities [Member]      
Other income      
Revenue from contract $ 9,567 $ 16,057 $ 26,593
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
 [1]
Sep. 30, 2025
 [1]
Jun. 30, 2025
 [1]
Mar. 31, 2025
 [1]
Dec. 31, 2024
 [1]
Sep. 30, 2024
 [1]
Jun. 30, 2024
 [1]
Mar. 31, 2024
 [1]
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]                      
Net income $ 128,828 $ 130,748 $ 120,721 $ 84,306 $ 94,408 $ 95,267 $ 96,507 $ 86,814 $ 464,603 $ 372,996 $ 366,313
Other comprehensive income on available-for-sale ("AFS") securities, net of tax                 89,466 30,855 81,521
Other comprehensive loss on cash flow hedge, net of tax                 (9,937) (6,249) (13,059)
Other comprehensive income on defined benefit pension plan, net of tax                 5,447 11,172 4,589
Total comprehensive income, net of tax                 $ 549,579 $ 408,774 $ 439,364
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Consolidated Statement of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive (Loss) Income [Member]
Treasury Stock [Member]
Beginning Balance at Dec. 31, 2022 $ 4,516,193 $ 355,029 $ 3,168,874 $ 1,575,426 $ (332,732) $ (250,404)
Beginning Balance, shares at Dec. 31, 2022   142,011,560        
Net income 366,313 $ 0 0 366,313 0 0
Other comprehensive income, net of tax 73,051 0 0 0 73,051 0
Total comprehensive income, net of tax 439,364          
Stock based compensation expense 12,463 0 12,463 0 0 0
Stock grant forfeiture 0 $ 0 320 0 0 (320)
Stock grant forfeiture, shares   0        
Purchase of treasury stock (1,382) $ 0 0 0 0 (1,382)
Cash dividends (196,120) 0 0 (196,120) 0 0
Net issuance of common stock under stock-based compensation plans 722 $ 615 107 0 0 0
Net issuance of common stock under stock-based compensation plans, shares   246,086        
Ending Balance at Dec. 31, 2023 4,771,240 $ 355,644 3,181,764 1,745,619 (259,681) (252,106)
Ending Balance, shares at Dec. 31, 2023   142,257,646        
Net income 372,996 $ 0 0 372,996 0 0
Other comprehensive income, net of tax 35,778 0 0 0 35,778 0
Total comprehensive income, net of tax 408,774          
Stock based compensation expense 12,130 0 12,130 0 0 0
Stock grant forfeiture 0 $ 0 345 0 0 (345)
Stock grant forfeiture, shares   0        
Purchase of treasury stock (1,040) $ 0 0 0 0 (1,040)
Cash dividends (200,889) 0 0 (200,889) 0 0
Net issuance of common stock under stock-based compensation plans 3,008 $ 1,093 1,915 0 0 0
Net issuance of common stock under stock-based compensation plans, shares   437,170        
Ending Balance at Dec. 31, 2024 4,993,223 $ 356,737 3,196,154 1,917,726 (223,903) (253,491)
Ending Balance, shares at Dec. 31, 2024   142,694,816        
Net income 464,603 $ 0 0 464,603 0 0
Other comprehensive income, net of tax 84,976 0 0 0 84,976 0
Total comprehensive income, net of tax 549,579          
Acquisition of Piedmont Bancorp, Inc. 280,946 $ 19,652 261,294 0 0 0
Acquisition of Piedmont Bancorp, Inc., shares   7,860,831        
Stock based compensation expense 13,089 $ 0 13,089 0 0 0
Stock grant forfeiture 0 $ 0 610 0 0 (610)
Stock grant forfeiture, shares   0        
Termination of management stock bonus plan 0 $ 0 338 0 0 (338)
Purchase of treasury stock (126,989) 0 0 0 0 (126,989)
Cash dividends (212,002) 0 0 (212,002) 0 0
Net issuance of common stock under stock-based compensation plans (1,863) $ 753 (2,616) 0 0 0
Net issuance of common stock under stock-based compensation plans, shares   301,352        
Ending Balance at Dec. 31, 2025 $ 5,495,983 $ 377,142 $ 3,468,869 $ 2,170,327 $ (138,927) $ (381,428)
Ending Balance, shares at Dec. 31, 2025   150,856,999        
v3.25.4
Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash dividends per share $ 1.49 $ 1.48 $ 1.45
Common Stock [Member]      
Acquisition of Piedmont Bancorp, Inc., shares 7,860,831    
Stock grant forfeiture, shares 16,682 9,413 8,295
Cash dividends per share $ 1.49 $ 1.48 $ 1.45
Net issuance of common stock under stock-based compensation plans 301,352 437,170 246,086
Treasury Stock [Member]      
Termination of management stock bonus plan, shares 8,811    
Purchase of treasury stock, shares 3,603,071 30,192 33,850
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES      
Net income $ 464,603,000 $ 372,996,000 $ 366,313,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 53,866,000 25,153,000 31,153,000
Amortization and accretion (29,864,000) (5,313,000) 5,915,000
Loss on sales of bank premises, OREO, leases and equipment 97,000 322,000 345,000
Write-downs on bank premises, OREO, leases and equipment 55,000 219,000 945,000
Depreciation 16,813,000 15,709,000 17,191,000
(Gain) loss on securities (11,170,000) 7,720,000 7,646,000
Loans originated for sale (370,856,000) (645,942,000) (860,901,000)
Proceeds from sales of loans 393,506,000 673,906,000 887,398,000
Gain on sales of loans (9,567,000) (16,063,000) (25,879,000)
Mortgage repurchase loan reserve activity (327,000) 19,000 (304,000)
Stock-based compensation 13,089,000 12,130,000 12,463,000
Excess tax benefits from stock-based compensation arrangements 83,000 258,000 128,000
Deferred income tax expense (benefit) 16,645,000 (3,368,000) (2,921,000)
Amortization of tax credit investments 15,424,000 15,277,000 15,238,000
Originations of mortgage servicing rights 0 0 (715,000)
Gain on sale of mortgage servicing rights 0 (7,086,000) (8,306,000)
Increase in cash surrender value of bank-owned life insurance policies (14,489,000) (14,150,000) (9,267,000)
(Amortization) accretion of net periodic pension costs (2,257,000) 10,000 159,000
Changes in:      
Interest receivable (6,820,000) 9,008,000 (16,530,000)
Other assets (12,464,000) 2,056,000 (3,618,000)
Accrued expenses and other liabilities (17,461,000) 2,593,000 18,784,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 498,906,000 445,454,000 435,237,000
INVESTING ACTIVITIES      
Proceeds from sales of securities available for sale 527,000 454,993,000 181,824,000
Proceeds from maturities and calls of securities available for sale 2,260,333,000 2,459,102,000 770,389,000
Purchases of securities available for sale (2,142,828,000) (2,062,441,000) (107,866,000)
Proceeds from sales of equity securities 713,000 8,113,000 344,000
Purchases of equity securities (929,000) (1,159,000) (1,647,000)
Proceeds from sales and redemptions of other investment securities 15,396,000 160,637,000 155,299,000
Purchases of other investment securities (58,817,000) (136,392,000) (178,476,000)
Redemption of bank-owned life insurance policies 5,344,000 3,864,000 2,556,000
Purchases of bank premises and equipment (17,714,000) (12,128,000) (11,687,000)
Proceeds from sales of bank premises and equipment 1,444,000 101,000 2,542,000
Proceeds from sales of mortgage servicing rights 0 12,489,000 23,450,000
Acquisition of Piedmont Bancorp, Inc., net of cash paid 77,476,000 0 0
Proceeds from sales of OREO properties 553,000 2,355,000 3,240,000
Net change in loans and leases (1,040,810,000) (318,049,000) (800,974,000)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (899,312,000) 571,485,000 38,994,000
FINANCING ACTIVITIES      
Cash dividends paid (209,002,000) (200,727,000) (194,727,000)
Acquisition of treasury stock (126,989,000) (1,040,000) (1,382,000)
Proceeds from exercise of stock options 751,000 5,274,000 1,750,000
Repayment of long-term Federal Home Loan Bank borrowings (10,000,000) (1,500,000,000) (1,900,000,000)
Proceeds from issuance of long-term Federal Home Loan Bank borrowings 0 250,000,000 1,500,000,000
Redemption of subordinated debt (20,575,000) 0 (10,250,000)
Changes in:      
Time deposits 328,749,000 254,936,000 1,318,577,000
Other deposits 664,995,000 887,924,000 (801,305,000)
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings 22,483,000 (20,005,000) 35,397,000
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 650,412,000 (323,638,000) (51,940,000)
INCREASE IN CASH AND CASH EQUIVALENTS 250,006,000 693,301,000 422,291,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 2,292,244,000 1,598,943,000 1,176,652,000
CASH AND CASH EQUIVALENTS AT END OF YEAR 2,542,250,000 2,292,244,000 1,598,943,000
Supplemental information      
Cash paid for interest on deposits and borrowed funds 581,620,000 590,635,000 468,123,000
Cash paid for income taxes, net of refunds 114,463,000 86,221,000 105,460,000
Cash paid for amounts in the measurement of lease liabilities 19,739,000 19,900,000 21,581,000
Noncash investing activities:      
Transfers of other investment securities to equity securities 2,316,000 0 0
Transfers of loans to OREO 9,034,000 359,000 4,941,000
Right-of-use assets obtained in the exchange for lease liabilities 18,673,000 8,896,000 33,403,000
Acquisition of subsidiaries and purchase price adjustments:      
Assets acquired, net of cash 2,225,854,000 0 0
Goodwill $ 129,959,000 $ 0 $ 0
Issuance of common stock as consideration for acquisition 280,946 0 0
Subsidiaries [Member]      
Acquisition of subsidiaries and purchase price adjustments:      
Liabilities assumed $ 2,152,343,000 $ 0 $ 0
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure                      
Net Income (Loss) $ 128,828 [1] $ 130,748 [1] $ 120,721 [1] $ 84,306 [1] $ 94,408 [1] $ 95,267 [1] $ 96,507 [1] $ 86,814 [1] $ 464,603 $ 372,996 $ 366,313
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Insider Trading Arrangements
 12 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
In the ordinary course of business, United relies on electronic communications and information systems to conduct its operations and to store sensitive data. United employs an in-depth, layered, defensive approach that leverages people, processes and technology to manage and maintain cybersecurity controls. United employs a variety of preventative and detective tools to monitor, block, and provide alerts regarding suspicious activity, as well as to report on any suspected advanced persistent threats. Notwithstanding the strength of its defensive measures, the threat from cyber-attacks is severe, attacks are sophisticated and increasing in volume, and attackers respond rapidly to changes in defensive measures. While to date, United and United Bank have not experienced a material compromise, material data loss or any material financial losses related to cybersecurity attacks, United’s systems and those of its customers and third-party service providers are under constant threat and it is possible that United could experience a significant event in the future.
United recognizes the critical importance of cybersecurity in our business operations. Our cybersecurity processes are fully integrated into our overall risk management system.
We believe that effective management of cybersecurity risks is integral to the protection of our assets, reputation, and the trust of our stakeholders. Our proactive approach to cybersecurity involves numerous processes including, regular risk assessments, employee training and continuing education, incident response planning and testing, and continuous improvement in our cybersecurity practices. To ensure the robustness of our cybersecurity processes, we engage qualified assessors, consultants, and auditors on a periodic basis. These experts evaluate the effectiveness of our cybersecurity controls, identify vulnerabilities, and recommend improvements. We maintain ongoing relationships with reputable
third-party firms specializing in cybersecurity to assess our systems, conduct penetration testing, and audit our processes for compliance with industry standards and regulations.
 
United recognizes the inherent cybersecurity risks associated with third-party service providers. To manage these risks, we have implemented processes to oversee and identify material risks from cybersecurity threats linked to our use of third-party service providers. These processes include due diligence assessments, contractual provisions, and ongoing monitoring of our service providers’ cybersecurity practices. We continually assess the cybersecurity measures of our service providers to ensure they align with our own security standards and requirements.

We do not currently believe that any current cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected,
or are reasonably likely to materially affect, United, including its business strategy, results of operations or financial condition. However, risks and exposures related to cybersecurity attacks, including litigation and enforcement risks, are expected to be elevated for the foreseeable future due to the rapidly evolving nature and sophistication of these threats, as well as due to the expanding use of internet banking, mobile banking and other technology-based products and services by United and its customers. See Item 1A. Risk Factors for a further discussion of risk related to cybersecurity.
Governance
The Board of Directors’ risk
management oversight
is
provided
primarily by the Board Risk Committee. The Risk Committee oversees the Company’s Enterprise Risk Management Program and the processes established identify, measure, manage and monitor United’s significant financial and other risk exposures. In particular, the Risk Committee is responsible for oversight of information security, including cybersecurity, vendor management, and business continuity planning. The Risk Committee periodically reviews management’s strategies and policies for assessing and managing risk, including, but not limited to, the approval of the overall risk appetite and review of the risk management structure.
At the management level, the responsibility for oversight of the risk management function lies with the Chief Risk & Information Officer. The Chief Risk & Information Officer (“CIRO”) is an executive officer of the Company who reports directly to the Chief Executive Officer. The CIRO provides regular risk management reports to the Risk Committee and the full Board of Directors, as well as at meetings of the independent directors.
The management of the Company’s cybersecurity team has over 100 years of industry experience combined, holds numerous certifications, and is regularly trained through continuing professional education. Information security, and specifically cyber security, is formally discussed quarterly at the Governance Steering Committee (“GSC”). The GSC is comprised of executive management, IT internal audit, digital banking leadership, and United’s Chief Information Security Officer (“CISO”). The activities of the GSC are reported quarterly to the Board Risk Committee.
 
The CISO is responsible for leading and coordinating our daily cybersecurity efforts, including leading our Information Security department which consists of a team of qualified individuals with significant relevant experience and certifications. In addition, United’s CISO has served in various roles in Operations, Physical Security, Fraud Investigations, and Information Security for over 24 years with United. The CISO holds a Bachelor of Science in Criminal Justice and has led the Information Security department since 2014. The Information Security and IT Security teams stay up to date on industry best practices, participate in industry threat intelligence feeds, and maintain multiple professional certifications in the areas of privacy and security.
The Information Security department is integrated with vendor management, business continuity planning, disaster recovery, and incident response. Additionally, we have a formal cybersecurity program based on the NIST CSF (“National Institute of Standards and Technology Cybersecurity Framework”) and the CIS (“Center for Internet Security”) Benchmarks that identifies and assesses cybersecurity risks. We deploy a variety of preventative and detective tools to monitor, block, and provide alerts regarding suspicious activity. All employees have a responsibility to report suspected or verified incidents to the Information Security department and/or the CISO, and all employees are trained annually regarding the identification and reporting of incidents. The CISO maintains a centralized record of all incidents and reports on these quarterly to the GSC and the Board Risk Committee. The CIRO is also immediately notified of any incident that exceeds pre-defined thresholds.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity processes are fully integrated into our overall risk management system.
We believe that effective management of cybersecurity risks is integral to the protection of our assets, reputation, and the trust of our stakeholders. Our proactive approach to cybersecurity involves numerous processes including, regular risk assessments, employee training and continuing education, incident response planning and testing, and continuous improvement in our cybersecurity practices. To ensure the robustness of our cybersecurity processes, we engage qualified assessors, consultants, and auditors on a periodic basis. These experts evaluate the effectiveness of our cybersecurity controls, identify vulnerabilities, and recommend improvements. We maintain ongoing relationships with reputable
third-party firms specializing in cybersecurity to assess our systems, conduct penetration testing, and audit our processes for compliance with industry standards and regulations.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]
We do not currently believe that any current cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected,
or are reasonably likely to materially affect, United, including its business strategy, results of operations or financial condition. However, risks and exposures related to cybersecurity attacks, including litigation and enforcement risks, are expected to be elevated for the foreseeable future due to the rapidly evolving nature and sophistication of these threats, as well as due to the expanding use of internet banking, mobile banking and other technology-based products and services by United and its customers. See Item 1A. Risk Factors for a further discussion of risk related to cybersecurity.
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Board of Directors’ risk
management oversight
is
provided
primarily by the Board Risk Committee. The Risk Committee oversees the Company’s Enterprise Risk Management Program and the processes established identify, measure, manage and monitor United’s significant financial and other risk exposures. In particular, the Risk Committee is responsible for oversight of information security, including cybersecurity, vendor management, and business continuity planning. The Risk Committee periodically reviews management’s strategies and policies for assessing and managing risk, including, but not limited to, the approval of the overall risk appetite and review of the risk management structure.
At the management level, the responsibility for oversight of the risk management function lies with the Chief Risk & Information Officer. The Chief Risk & Information Officer (“CIRO”) is an executive officer of the Company who reports directly to the Chief Executive Officer. The CIRO provides regular risk management reports to the Risk Committee and the full Board of Directors, as well as at meetings of the independent directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Board of Directors’ risk
management oversight
is
provided
primarily by the Board Risk Committee. The Risk Committee oversees the Company’s Enterprise Risk Management Program and the processes established identify, measure, manage and monitor United’s significant financial and other risk exposures. In particular, the Risk Committee is responsible for oversight of information security, including cybersecurity, vendor management, and business continuity planning. The Risk Committee periodically reviews management’s strategies and policies for assessing and managing risk, including, but not limited to, the approval of the overall risk appetite and review of the risk management structure.
At the management level, the responsibility for oversight of the risk management function lies with the Chief Risk & Information Officer. The Chief Risk & Information Officer (“CIRO”) is an executive officer of the Company who reports directly to the Chief Executive Officer. The CIRO provides regular risk management reports to the Risk Committee and the full Board of Directors, as well as at meetings of the independent directors.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Board of Directors’ risk
management oversight
is
provided
primarily by the Board Risk Committee. The Risk Committee oversees the Company’s Enterprise Risk Management Program and the processes established identify, measure, manage and monitor United’s significant financial and other risk exposures. In particular, the Risk Committee is responsible for oversight of information security, including cybersecurity, vendor management, and business continuity planning. The Risk Committee periodically reviews management’s strategies and policies for assessing and managing risk, including, but not limited to, the approval of the overall risk appetite and review of the risk management structure.
At the management level, the responsibility for oversight of the risk management function lies with the Chief Risk & Information Officer. The Chief Risk & Information Officer (“CIRO”) is an executive officer of the Company who reports directly to the Chief Executive Officer. The CIRO provides regular risk management reports to the Risk Committee and the full Board of Directors, as well as at meetings of the independent directors.
The management of the Company’s cybersecurity team has over 100 years of industry experience combined, holds numerous certifications, and is regularly trained through continuing professional education. Information security, and specifically cyber security, is formally discussed quarterly at the Governance Steering Committee (“GSC”). The GSC is comprised of executive management, IT internal audit, digital banking leadership, and United’s Chief Information Security Officer (“CISO”). The activities of the GSC are reported quarterly to the Board Risk Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
NOTE A--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations:
United Bankshares, Inc. (“United”, the “Company”) is a financial holding company headquartered in Charleston, West Virginia. United considers all of West Virginia to be included in its market area. This area includes the five largest West Virginia Metropolitan Statistical Areas (“MSA”): the Parkersburg MSA, the Charleston MSA, the Huntington MSA, the Morgantown MSA and the Wheeling MSA. United serves the Ohio counties of Lawrence, Belmont, Jefferson and the Pennsylvania counties of Washington and Fayette, primarily because of their close proximity to the Ohio and Pennsylvania borders and United banking offices located in those counties in nearby West Virginia. United’s Virginia markets include the Maryland, northern Virginia and Washington, D.C. MSA, the Winchester MSA, the Harrisonburg MSA, and the Charlottesville MSA. Through its acquisition of Carolina Financial, United’s market also includes the Coastal, Midlands, and Upstate regions of South Carolina, including the Charleston (Charleston, Dorchester and Berkeley Counties), Myrtle Beach (Horry and Georgetown Counties), Columbia (Richland and Lexington Counties), and the Upstate (Greenville and Spartanburg Counties) areas as well as areas in North Carolina including Wilmington (New Hanover County), Raleigh-Durham (Durham and Wake Counties), Charlotte-Concord-Gastonia (NC and SC) and the southeastern coastal region of North Carolina (Bladen, Brunswick, Columbus, Cumberland, Duplin and Robeson Counties). Through its acquisition of Community Bankers Trust, United added new markets in Baltimore and Annapolis, Maryland and Lynchburg and Richmond, Virginia as well as the Northern Neck of Virginia. Through its acquisition of Piedmont, United added the Atlanta, Georgia MSA to its market area. United considers all of the above locations to be the primary market areas for its business.
Operating and Reporting Segments
As of December 31, 2025, United’s business activities are confined to one operating segment, United Bank, and one reportable segment, community banking. As a community banking entity, United, through United Bank, offers a full range of products and services through various delivery channels. Included among the banking products and services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, credit card, commercial, and floor plan loans; and the making of construction and real estate loans as well as the origination and sale of residential mortgages in the secondary market. Also offered are trust and brokerage services, safe deposit boxes, and wire transfers. United’s chief operating decision maker regularly reviews the operating results of United Bank in order to assess performance and make decisions about resource allocation. At December 31, 2023, United had three operating segments: United Bank, George Mason Mortgage, LLC (“George Mason”) and Crescent Mortgage Company (“Crescent”), and two reporting segments: community banking and mortgage banking. However, during the first quarter of 2024, United consolidated the mortgage origination and sales business of George Mason and Crescent with that of United Bank. United previously exited the third-party origination (“TPO”) business during the fourth quarter of 2023.
Basis of Presentation:
The consolidated financial statements and the notes to consolidated financial statements include the accounts of United and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements.
As defined in applicable accounting standards, variable interest entities (“VIEs”) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. United’s wholly owned and indirect wholly owned statutory trust subsidiaries are VIEs for which United is not the primary beneficiary. Accordingly, its accounts are not included in United’s consolidated financial statements.
 
The accounting and reporting policies of United conform with U.S. generally accepted accounting principles. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. To conform to the 2025 presentation, certain reclassifications have been made to prior period amounts, which had no impact on net income, comprehensive income or shareholders’ equity. In the opinion of management, all adjustments necessary for a fair presentation of financial position and results of operations have been made. Such adjustments are of a normal and recurring nature.
The Company has evaluated events and transactions subsequent to December 31, 2025 through the date these financial statements were issued. Based on definitions and requirements of generally accepted accounting principles for “Subsequent Events,” the Company has not identified any events that would require adjustments to, or disclosure in the financial statements.
Cash and Cash Equivalents:
United considers cash and due from banks, interest-bearing deposits with other banks and federal funds sold as cash and cash equivalents.
Debt securities
: The Company accounts for debt securities in two categories: held to maturity (“HTM”) and available for sale (“AFS”). Premiums and discounts on debt securities are deferred and recognized into income over the contractual life of the asset using the effective interest method.
HTM securities are accounted for at amortized cost, but the Company must have both the positive intent and the ability to hold those securities to maturity. There are very limited circumstances under which securities in the HTM category can be sold without jeopardizing the cost basis of accounting for the remainder of the securities in this category. Substantially all of the Company’s HTM debt securities are issued by state and political subdivisions (municipalities). As of December 31, 2025, United considers its HTM debt securities portfolio to be immaterial.
AFS securities are accounted for at fair value. Gains and losses realized on the sale of these securities are accounted for based on the specific identification method. Unrealized gains and losses for AFS securities are excluded from earnings and reported net of the related tax effect in the accumulated other comprehensive income component of shareholders’ equity.
Allowance for Credit Losses (HTM Debt Securities)
: For HTM debt securities, the Company is required to utilize a current expected credit losses (“CECL”) methodology to estimate expected credit losses. As of December 31, 2025 and 2024, the Company recorded an allowance for credit losses of $16,000 and $18,000, respectively, on its HTM debt securities portfolio.
Allowance for Credit Losses (AFS Debt Securities)
: The impairment model for available-for-sale (“AFS”) debt securities differs from the CECL methodology applied for HTM debt securities because AFS debt securities are measured at fair value rather than amortized cost. Although ASC Topic 326, “Financial Instruments – Credit Losses” replaced the legacy other-than-temporary impairment (“OTTI”) model with a credit loss model, it retained the fundamental nature of the legacy OTTI model. For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more-likely-than-not that it will be required to sell, the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS debt securities where neither of the criteria are met, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the credit rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited to the amount that the fair value is less than the amortized cost basis. Any remaining discount that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. An entity may no longer consider the length of time fair value has been less than amortized cost. Changes in the allowance for credit losses are recorded as a provision (or release) for credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of December 31, 2025, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and therefore, an allowance for credit losses was not recorded. United has the intent and the ability to hold these securities until such time as the value recovers or the securities mature.
Equity securities:
Investments in equity securities with readily determinable fair values are measured at fair value, with changes in the fair value recognized in Net investment securities gains in the Consolidated Statements of Income.
Other investment securities:
Certain security investments such as Federal Reserve Bank stock and Federal Home Loan Bank stock that do not have readily determinable fair values are accounted for at cost minus impairment, if any. For other security investments that do not have readily determinable fair values (non-marketable), they are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer, also referred to as the measurement alternative. Any adjustments to the carrying value of these investments are recorded in Other income in the Consolidated Statements of Income.
Securities Purchased Under Resale Agreements and Securities Sold Under Agreements to Repurchase:
Securities purchased under agreements to resell and securities sold under agreements to repurchase are accounted for as collateralized financing transactions. They are recorded at the amounts at which the securities were acquired or sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be repledged or sold, unless replaced, by the secured party. The fair value of the collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to United as deemed appropriate.
Loans:
Loans are reported at the principal amount outstanding, net of unearned income, except loans acquired through transfer (see below). Interest on loans is accrued and credited to operations using methods that produce a level yield on individual principal amounts outstanding. Loan origination and commitment fees and related direct loan origination costs are deferred and amortized as an adjustment of loan yield over the estimated life of the related loan. Loan fees net of costs accreted and included in interest income were $64,392,000, $36,937,000, and $39,509,000, for the
years
of 2025, 2024 and 2023, respectively.
For all loan classes, past due loans and leases are reviewed on a monthly basis to identify loans and leases for nonaccrual status. Generally, when collection in full of the principal and interest is jeopardized, the loan is placed on nonaccrual status. The accrual of interest income on commercial and most consumer loans generally is discontinued when a loan becomes 90 to 120 days past due as to principal or interest. However, regardless of delinquency status, if a loan is fully secured and in the process of collection and resolution of collection is expected in the near term (generally less than 90 days), then the loan will not be placed on nonaccrual status. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and unpaid interest accrued in prior years is charged to the allowance for credit losses. United’s method of income recognition for loans and leases that are classified as nonaccrual is to recognize interest income on a cash basis or apply the cash receipt to principal when the ultimate collectibility of principal is in doubt. Nonaccrual loans and leases will not normally be returned to accrual status unless all past due principal and interest has been paid and the borrower has evidenced their ability to meet the contractual provisions of the note.
Loans Acquired Through Transfer:
Acquired loans are recorded at fair value at the date of acquisition based on a discounted cash flow methodology that considers various factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and a discount rate reflecting the Company’s assessment of risk inherent in the cash flow estimates. Certain purchased loans are individually evaluated while certain purchased loans are grouped together according to similar risk characteristics and are treated in the aggregate when applying various valuation techniques. These cash flow evaluations are inherently subjective as they require material estimates, all of which may be susceptible to significant change.
Loans acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At the acquisition date, an estimate of expected credit losses is made for groups of PCD loans with similar risk characteristics and individual PCD loans without similar risk characteristics. This initial allowance for credit losses is allocated to individual PCD loans and added to the purchase price or acquisition date fair values to establish the initial amortized cost basis of the PCD loans. As the initial allowance for credit losses is added to the purchase price, there is no credit loss expense recognized upon acquisition of a PCD loan. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to noncredit factors and results in a discount or premium. Discounts and premiums are recognized through interest income on a level-yield method over the life of the loans.
For loans and leases acquired after the adoption of ASC Topic 326, United will likely take several factors into consideration when determining if loans and leases meet the definition of PCD. ASC Topic 326 lists some, but not all, factors for consideration in the bifurcation of PCD versus non-PCD assets:
 
  •  
Financial assets that are delinquent as of the acquisition date
  •  
Financial assets that have been downgraded since origination
  •  
Financial assets that have been placed on nonaccrual status
For acquired loans not deemed purchased credit deteriorated at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income on a level-yield basis over the lives of the related loans and an allowance for credit losses is established subsequent to the acquisition.
Loans Held for Sale:
Loans held for sale consist of one-to-four family conforming residential real estate loans originated for sale in the secondary market.
Loans held for sale are recorded under the fair value option at a fair value measured using valuations from investors for loans with similar characteristics adjusted for the Company’s actual sales experience versus the investor’s indicated pricing.
Gains and losses on sale of loans are recorded within income from mortgage banking activities.
Allowance for Loan and Lease Losses:
The allowance for loan losses is an estimate of the expected credit losses on financial assets measured at amortized cost to present the net amount expected to be collected as of the balance sheet date. Such allowance is based on the credit losses expected to arise over the life of the asset (contractual term). Assets are charged off when United determines that such financial assets are deemed uncollectible or based on regulatory requirements, whichever is earlier. Charge-offs are recognized as a deduction from the allowance for loan losses. Expected recoveries of amounts previously charged-off, not to exceed the aggregate of the amount previously charged-off, are included in determining the necessary reserve at the balance sheet date.
United made a policy election to present the accrued interest receivable balance separately in its consolidated balance sheets from the amortized cost of a loan. United estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level or term as well as reasonable and supportable forecast adjustments for changes in environmental conditions, such as changes in unemployment rates, property values or other relevant factors. A reversion to historical loss data occurs via a straight-line method during the year following the one-year reasonable and supportable forecast period.
United pools its loans and leases based on similar risk characteristics in estimating expected credit losses. United has identified the following portfolio segments and measures the allowance for credit losses using the following methods:
 
  •  
Method: Probability of Default/Loss Given Default (PD/LGD)
 
Ø
  
Commercial Real Estate Owner-Occupied
 
Ø
  
Commercial Real Estate Nonowner-Occupied
 
Ø
  
Commercial Other
  •  
Method: Cohort
 
Ø
  
Residential Real Estate
 
Ø
  
Construction & Land Development
 
Ø
  
Consumer
 
Ø
  
Bankcard
 
Risk characteristics of commercial real estate owner-occupied loans and commercial other loans and leases are similar in that they are normally dependent upon the borrower’s internal cash flow from operations to service debt. Commercial real estate nonowner-occupied loans differ in that cash flow to service debt is normally dependent on external income from third parties for use of the real estate such as rents, leases and room rates. Residential real estate loans are dependent upon individual borrowers who are affected by changes in general economic conditions, demand for housing and resulting residential real estate valuation. Construction and land development loans are impacted mainly by demand whether for new residential housing or for retail, industrial, office and other types of commercial construction within a given area. Consumer loan pool risk characteristics are influenced by general, regional and local economic conditions.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral but may also include other non-performing loans, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. These individually evaluated loans are removed from their respective pools and typically represent collateral dependent loans.
Expected credit losses are estimated over the contractual term of the loans and leases, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless management has a reasonable expectation at the reporting date that the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancelable by United.
At the acquisition date, an initial allowance for expected credit losses for non-PCD loans is estimated and recorded as credit loss expense. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans. For allowance for credit losses under ASC Topic 326 calculation purposes, United includes its acquired loans and leases in their relevant pool unless they meet the criteria for specific review.
Bank Premises and Equipment:
Bank premises and equipment are stated at cost, less allowances for depreciation and amortization. The provision for depreciation is computed principally by the straight-line method over the estimated useful lives of the respective assets. Useful lives range primarily from
three
to 15 years for furniture, fixtures and equipment and
five
to 40 years for buildings and improvements. Leasehold improvements are generally amortized over the lesser of the term of the respective leases or the estimated useful lives of the improvements.
Other Real Estate Owned
: At December 31, 2025 and 2024, other real estate owned (“OREO”) included in other assets in the Consolidated Balance Sheets was $8,857,000 and $327,000, respectively. OREO consists of real estate acquired in foreclosure or other settlement of loans. Such assets are carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. Any adjustment to the fair value at the date of transfer is charged against the allowance for loan losses. Any subsequent valuation adjustments as well as any costs relating to operating, holding or disposing of the property are recorded in other expense in the period incurred. At December 31, 2025 and 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $1,868,000 and $795,000, respectively.
Intangible Assets:
Intangible assets relating to the estimated fair value of the deposit base of the acquired institutions are being amortized on an accelerated basis over a
one
to ten-year period. Management reviews intangible assets on an annual basis, or sooner if indicators of impairment exist, and evaluates changes in facts and circumstances that may indicate impairment in the carrying value. United incurred amortization expense of $9,363,000, $3,639,000, and $5,116,000, in 2025, 2024, and 2023, respectively, related to all intangible assets.
Goodwill is tested for impairment at least annually or sooner if indicators of impairment exist. United may elect to perform a qualitative analysis to determine whether or not it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If United elects to bypass this qualitative analysis, or concludes via qualitative analysis that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying value, United may use either a market or income quantitative approach, whichever is more practical, to determine the fair value of the reporting unit to compare to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, an
 
impairment charge would be recorded for the excess, not to exceed the amount of goodwill allocated to the reporting unit. At each reporting date, the Company considers potential indicators of impairment. United utilized a qualitative approach to test goodwill for impairment as of September 30, 2025. The goodwill impairment test did not identify any indicators of goodwill impairment. As of December 31, 2025, and 2024, total goodwill approximated $
2,018,848,000
and $
1,888,889,000
, respectively.
 
Mortgage Servicing Rights, Fees and Costs:
The Company initially measures servicing assets and liabilities retained related to the sale of residential loans held for sale (“MSRs”) at fair value. For subsequent measurement purposes, the Company measures servicing assets and liabilities using the amortization method.
MSRs are amortized in proportion to, and over the period of, estimated net servicing income. The amortization of the MSRs is analyzed periodically and is adjusted to reflect changes in prepayment rates and other estimates.
The Company evaluates potential impairment of MSRs based on the difference between the carrying amount and current estimated fair value of the servicing rights. In determining impairment, the Company aggregates all servicing rights and stratifies them into tranches based on predominant risk characteristics. If impairment exists, a valuation allowance is established for any excess of amortized cost over the current estimated fair value by a charge to income. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income.
Service fee income is recorded for fees earned for servicing mortgage loans under servicing agreements with the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and certain private investors. The fees are based on a contractual percentage of the outstanding principal balance of the loans serviced and are recorded in noninterest income. Amortization of MSRs
and
mortgage servicing costs are charged to expense when incurred. During the third quarter of 2024, United sold its remaining balance of MSRs.
Accrued Interest Receivable
: In accordance with ASC Topic 326, the Company made the following elections regarding accrued interest receivable (“AIR”):
 
  •  
Presenting accrued interest receivable balances separately from their underlying instruments within the consolidated statements of financial condition.
  •  
Excluding accrued interest receivable that is included in the amortized cost of financing receivables from related disclosure requirements.
  •  
Continuing our policy to write off accrued interest receivable by reversing interest income in cases where the Company does not reasonably expect to receive payment.
  •  
Not measuring an allowance for credit losses for accrued interest receivable due to the Company’s policy of writing off uncollectible accrued interest receivable balances in a timely manner.
Revenue Recognition
: Interest and dividend income, loan fees, fees from trust and brokerage services, deposit services and bankcard fees are recognized and accrued as earned.
Descriptions of our revenue-generating activities that are within the scope of ASC Topic 606, which are presented in our Consolidated Statements of Income as components of Other Income are discussed below. There are no significant judgements relating to the amount and timing of revenue recognition for those revenue streams under the scope of ASC Topic 606.
Fees from Trust Services
Revenue from trust services primarily is comprised of fees earned from the management and administration of trusts and other customer assets. Trust services include custody of assets, investment management, escrow services, and similar fiduciary activities. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts.
 
Fees from Brokerage Services
Revenue from brokerage services are recorded as the income is earned at the time the related service is performed. In return for such services, the Company charges a commission for the sales of various securities products primarily consisting of investment company shares, annuity products, and corporate debt and equity securities, for its selling and administrative efforts. For account supervision, advisory and administrative services, revenue is recognized over a period of time as earned based on customer account balances and activity.
Fees from Deposit Services
Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, ATM activity fees, debit card fees, and other deposit account related fees. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (ATM or debit card activity).
Bankcard Fees and Merchant Discounts
Bankcard fees and merchant discounts are primarily comprised of credit card income and merchant services income. Credit card income is primarily comprised of interchange fees earned whenever the Company’s credit cards are processed through card payment networks such as Visa. Merchant services income mainly represents fees charged to merchants to process their credit card transactions. The Company’s performance obligation for bankcard fees and interchange are largely satisfied, and related revenue recognized at the time services are rendered. Payment is typically received immediately or in the following month.
Advertising Costs:
Advertising costs are generally expensed as incurred and included in Other Expense on the Consolidated Statements of Income. Advertising expense was $9,003,000, $8,336,000, and $9,330,000, for the years of 2025, 2024, and 2023, respectively.
Income Taxes:
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (excluding deferred tax assets and liabilities related to business combinations or components of other comprehensive income). Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more-likely-than-not that all of the deferred tax assets will be realized. Interest and/or penalties related to income taxes are reported as a component of income tax expense.
For uncertain income tax positions, United records a liability based on a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken on a tax return, in order for those tax positions to be recognized in the financial statements.
United files a consolidated income tax return with its subsidiaries. Federal income tax expense or benefit has been allocated to subsidiaries on a separate return basis.
Derivative Financial Instruments:
United accounts for its derivative financial instruments in accordance with ASC Topic 815 which requires all derivative instruments to be carried at fair value on the balance sheet. United has designated certain derivative instruments used to manage interest rate risk as hedge relationships with certain assets, liabilities or cash flows being hedged. Certain derivatives used for interest rate risk management are not designated in a hedge relationship.
Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges.
 
For a fair value hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to the hedged financial instrument. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a fair value hedge are offset in current period earnings either in interest income or interest expense depending on the nature of the hedged financial instrument. For a cash flow hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to accumulated other comprehensive income within shareholders’ equity, net of tax. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a cash flow hedge are offset to accumulated other comprehensive income, net of tax and reclassified into earnings in the same line associated with the forecasted transaction when the forecasted transaction affects earnings. Fair value hedges may be eligible for offset on the consolidated balance sheets because they are subject to master netting arrangements or similar agreements. United has elected not to offset the assets and liabilities subject to such arrangements on the consolidated financial statements.
At inception of a hedge relationship, United formally documents the hedged item, the particular risk management objective, the nature of the risk being hedged, the derivative being used, how effectiveness of the hedge will be assessed and how the ineffectiveness of the hedge will be measured. United also assesses hedge effectiveness at inception and on an ongoing basis using regression analysis. Hedge ineffectiveness is measured by using the change in fair value method. The change in fair value method compares the change in the fair value of the hedging derivative to the change in the fair value of the hedged exposure, attributable to changes in the benchmark rate.
United enters into interest rate lock commitments to finance residential mortgage loans with its customers. These commitments, which contain fixed expiration dates, offer the borrower an interest rate guarantee provided the loan meets underwriting guidelines and closes within the timeframe established by United. Interest rate risk arises on these commitments and subsequently closed loans if interest rates change between the time of the interest rate lock and the delivery of the loan to the investor. Market risk on interest rate lock commitments and mortgage loans held for sale is managed using corresponding forward mortgage loan sales contracts. United is a party to these forward mortgage loan sales contracts to sell loans with servicing released and short sales of mortgage-backed securities. When the interest rate is locked with the borrower, the rate lock commitment, forward sale agreement, and mortgage-backed security position are undesignated derivatives and marked to fair value through earnings. The fair value of the rate lock derivative is measured using valuations from investors for loans with similar characteristics as well as considering the probability of the loan closing (i.e. the “pull-through” rate) with some adjusted for the Company’s actual sales experience versus the investor’s indicated pricing. Fair values of TBA mortgage-backed securities are measured using valuations from investors for mortgage-backed securities with similar characteristics. Income from mortgage banking activities includes the gain recognized for the period presented and associated elements of fair value.
United is subject to the Dodd-Frank Act clearing requirement for eligible derivatives. United has executed and cleared eligible derivatives through the London Clearing House (“LCH”). Variation margin at the LCH is distinguished as settled-to-market and settled daily based on the prior day value, rather than collateralized-to-market. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument.
For derivatives that are not designated in a hedge relationship, changes in the fair value of the derivatives are recognized in earnings in the same period as the change in the fair value.
Cash flows from derivative financial instruments are classified as cash flows from operating activities on the consolidated statements of cash flows.
Off-balance-sheet credit exposures
:
United maintains a reserve for lending-related commitments such as unfunded loan commitments and letters of credit. United estimates expected credit losses over the contractual period in which United is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by United. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Methodology is based on a loss rate approach that starts with the probability of funding based on historical experience. Similar to methodology discussed previously related to the loans and leases receivable portfolio, adjustments are made to the historical losses for current conditions and reasonable and supportable forecast. Adjustments to the reserve for lending-related commitments on off-balance sheet credit exposures is recorded as other expense in the consolidated statements of income. The reserve for lending-related commitments is separately classified on the balance sheet within liabilities. The combined allowance for loan losses and reserve for lending-related commitments is considered the allowance for credit losses on loans and leases.
 
Stock-Based Compensation
: Compensation expense related to stock options, restricted stock awards (“RSA”) and restricted stock units (“RSU”) issued to participants is based upon the fair value of the award at the date of grant. The fair value of stock options is estimated at the date of grant using a binomial lattice option pricing model, while the fair value of RSAs is based upon the stock price at the date of grant. RSU grants could be time-vested RSUs, performance-vested RSUs, or a combination of both. The value of the time-vested RSUs and the performance-vested, based on a performance condition, RSUs awarded is established as the fair market value of the stock at the time of the grant. The value of the performance-vested, based on a market condition, RSUs awarded is estimated through the use of a Monte Carlo valuation model as of the grant date. Compensation expense is recognized on a straight-line basis over the vesting period for all stock-based awards and grants.
Stock-based compensation expense was $13,089,000 in 2025, $12,130,000 in 2024, and $12,463,000 in 2023.
Treasury Stock
: United records common stock purchased for treasury at cost. At the date of subsequent reissuance, the treasury stock account is reduced by the cost of such stock using the weighted-average cost method.
Trust Assets and Income:
Assets held in a fiduciary or agency capacity for customers are not included in the balance sheets since such items are not assets of the company. Trust income is reported on an accrual basis.
Earnings Per Common Share:
United calculates earnings per common share in accordance with ASC Topic 260, “Earnings Per Share,” which provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. United has determined that its outstanding non-vested restricted stock awards are participating securities.
Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. Antidilutive stock options and restricted stock outstanding of 563,090, 590,395, and 1,410,389 for the years ended December 31, 2025, 2024 and 2023, respectively, were excluded from the earnings per diluted common share calculation.
The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:
 
 
  
Year Ended December 31
 
(Dollars in thousands, except per share)
  
2025
 
  
2024
 
  
2023
 
Distributed earnings allocated to common stock
    $ 211,141      $ 200,156      $ 195,167  
Undistributed earnings allocated to common stock
      252,428        172,006        170,267  
  
 
 
     
 
 
     
 
 
  
Net earnings allocated to common shareholders
    $ 463,569      $ 372,162      $ 365,434  
  
 
 
     
 
 
     
 
 
  
Average common shares outstanding
      141,497,205        134,947,592        134,505,058  
Dilutive effect of stock compensation
      330,155        277,825        248,762  
  
 
 
     
 
 
     
 
 
  
Average diluted shares outstanding
      141,827,360        135,225,417        134,753,820  
  
 
 
     
 
 
     
 
 
  
Earnings per basic common share
    $ 3.28      $ 2.76      $ 2.72  
Earnings per diluted common share
    $ 3.27      $ 2.75      $ 2.71  
Fair Value Measurements
: United determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which also clarifies that fair value of certain assets and liabilities is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect United’s market assumptions.
 
The three levels of the fair value hierarchy based on these two types of inputs are as follows:
 
Level 1
  
-
  
Valuation is based on quoted prices in active markets for identical assets and liabilities.
Level 2
  
-
  
Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market.
Level 3
  
- 
  
Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market.
When determining the fair value measurements for assets and liabilities, United looks to active and observable markets to price identical assets or liabilities whenever possible and classifies such items in Level 1. When identical assets and liabilities are not traded in active markets, United looks to market observable data for similar assets and liabilities and classifies such items as Level 2. Nevertheless, certain assets and liabilities are not actively traded in observable markets and United must use alternative valuation techniques using unobservable inputs to determine a fair value and classifies such items as Level 3. For assets and liabilities that are not actively traded, the fair value measurement is based primarily upon estimates that require significant judgment. Therefore, the results may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there are inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future values. The level within the fair value hierarchy is based on the lowest level of input that is significant in the fair value measurement.
Recent Accounting Pronouncements
:
In December 2025, the Financial Accounting Standards Board (“FASB”) released Accounting Standards Update (“ASU”) 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements.” ASU 2025-11 is intended to improve the navigability of the guidance in ASC 270 and clarify when it applies. Under the amendments, an entity is subject to ASC 270 if it provides “interim financial statements and notes in accordance with GAAP.” The ASU also addresses the form and content of such financial statements, adds lists to ASC 270 of the interim disclosures required by all other Codification topics, and establishes a principle under which an entity must “disclose events since the end of the last annual reporting period that have a material impact on the entity.” ASU 2025-11 is effective for all public business entities for annual periods beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-11 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2025, the FASB released ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” ASU 2025-09 amends certain aspects of the hedge accounting guidance in ASC 815. In addition to addressing stakeholder concerns, the amendments are intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 is effective for all public business entities for annual periods beginning after December 15, 2026, with early adoption permitted. The ASU 2025-09 guidance should be applied prospectively for all hedging relationships as of the date of adoption. Entities must disclose the nature of and reason for the change in accounting principle, as well as the method of applying the change, in both the interim reporting period and the annual reporting period in which they adopt the ASU. The adoption of ASU 2025-09 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2025, the FASB released ASU 2025-08, “Financial Instruments—Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 makes significant changes to the accounting for certain acquired seasoned loans subject to the current expected credit loss model (CECL). No changes were made to the existing models for originated assets, purchased credit deteriorated assets (PCD) or other acquired assets. Under the ASU 2025-08, the initial allowance for credit losses recorded upon the acquisition of loans in scope is recognized as an adjustment to the amortized cost basis of the loan–similar to the PCD model. For these loans, the “day-one” credit loss estimate does not impact earnings immediately but rather is amortized over time as an adjustment to interest income. Subsequent changes in the allowance for credit losses are reported in earnings within credit loss expense. ASU 2025-08 is effective for all business entities for annual periods beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact the adoption of ASU 2025-08 may have on the Company’s financial condition or results of operations for subsequent acquisitions.
 
In September 2025, the FASB released ASU 2025-06, “Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” ASU 2025-06 modernizes the accounting for internal-use software (the existing internal-use software guidance does not contemplate more current methods of software development). The amendments in ASU 2025-06 are limited and focused on the key challenge that entities face in applying FASB ASC 350-40—applying that guidance to software that is developed using an incremental and iterative method. The amendments in ASU 2025-06 apply to all entities subject to the internal-use software guidance in FASB ASC 350-40. The amendments also apply to all entities that account for website development costs in accordance with FASB ASC 350-50, Intangibles— Goodwill and Other—Website Development Costs. ASU 2025-06 is effective for all business entities for annual periods beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-06 is not expected to have a material impact on the Company’s financial condition or results of operations.
In July 2025, the FASB released ASU 2025-05, “Measurement of Credit Losses for Accounts Receivable and Contract Assets.” ASU 2025-05 amends ASC Subtopic 326-20 to provide a practical expedient for all entities and an accounting policy election for all entities, other than public business entities, that elect the practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. ASU 2025-05 addresses concerns from stakeholders that estimating expected credit losses can be costly and complex for such transactions. ASU 2025-05 is effective for all business entities for annual periods beginning after December 15, 2025, with early adoption permitted. The adoption of ASU 2025-05 is not expected to have a material impact on the Company’s financial condition or results of operations.
In May 2025, The FASB has released ASU 2025-03, “Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity.” ASU 2025-03 is based on an EITF Issue and revises the guidance in ASC 805 to clarify that, in determining the accounting acquirer in “a business combination that is effected primarily by exchanging equity interests in which a VIE is acquired,” an entity would be required to consider the factors in ASC 805-10-55-12 through 55-15. Previously, the accounting acquirer in such transactions was always the primary beneficiary. ASU 2025-03 is effective for all business entities for annual periods beginning after December 15, 2026. The adoption of ASU 2025-03 is not expected to have a material impact on the Company’s financial condition or results of operations.
In January 2025, the FASB issued ASU 2025-01, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40).” ASU 2025-01 revised the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Entities within the ASU’s scope are permitted to early adopt. The adoption of ASU 2025-01 is not expected to have a material impact on the Company’s financial condition or results of operations but could change certain disclosures in United’s SEC filings.
In November 2024, the FASB issued Accounting Standards Update ASU 2024-04, “Induced Conversions of Convertible Debt Instruments.” ASU 2024-04 provides additional guidance on whether induced conversion or extinguishment accounting should be applied to certain settlements of convertible debt instruments that do not occur in accordance with the instruments’ preexisting terms. ASU 2024-04 requires entities to apply a preexisting contract approach. To qualify for induced conversion accounting under this approach, the inducement offer is required to preserve the form of consideration and result in an amount of consideration that is not less than that issuable pursuant to the preexisting conversion privileges. ASU 2024-04 clarifies how entities should assess the form and amount of consideration when applying this approach. ASU 2024-04 is effective for public business entities for annual periods beginning after December 15, 2025, with early adoption permitted, and can be adopted either on a prospective or retrospective basis. However, the effective date was updated by ASU 2025-01. The adoption of ASU 2024-04 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2024, the FASB issued Accounting Standards Update ASU 2024-03, “Disaggregation of Income Statement Expenses.” ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 adds ASC 220-40 to require a footnote disclosure about specific expenses by requiring public business entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities or other types of depletion expenses. Certain other expenses and gains or losses that must be disclosed under existing U.S. GAAP, and that are recorded in a relevant expense caption, must be presented in the same tabular disclosure. ASU
 
2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnote to the financial statements. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026. Entities are permitted to early adopt the standard and apply retrospectively for annual financial statements that have not yet been issued or made available for issuance. The adoption of ASU 2024-03 is not expected to have a material impact on the Company’s financial condition or results of operations but could change certain disclosures in United’s SEC filings.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures.” ASU 2023-09 enhances annual income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024. Entities are permitted to early adopt the standard for annual financial statements that have not yet been issued or made available for issuance. The adoption of ASU 2023-09 did not have a material impact on the Company’s financial condition or results of operations but did change certain disclosures in United’s SEC filings.
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in ASU 2023-07 improve reportable segment disclosure requirements, mainly through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments will enable investors to better understand an entity’s overall performance and assess potential future cash flows. ASU No. 2023-07 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption of the amendment is permitted. The adoption of ASU 2023-07 did not have an impact on the Company’s financial condition or results of operations but changed certain disclosures in United’s SEC filings.
In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” which adopts certain disclosure requirements referred by the SEC. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, the amendments will be effective two years later. The adoption of ASU 2023-06 did not have an impact on the Company’s financial condition or results of operations.
In August 2023, the FASB issued ASU 2023-05, “Business Combinations – Joint Venture Formations (Subtopic 805-60).” ASU 2023-05 requires a joint venture to apply a new basis of accounting at its formation date by valuing the net assets contributed at fair value for both business and asset transactions. The value of the net assets in total is then allocated to individual assets and liabilities by applying Topic 805 with certain exceptions. ASU 2023-05 requires certain disclosures to aid the user of the financial statements in understanding the implications of the joint venture formation. ASU 2023-05 is effective for joint venture formations with a formation date on or after January 1, 2025. The adoption of ASU 2023-05 is not expected to have an impact on the Company’s financial condition or results of operations.
In March 2023, the FASB issued Accounting ASU 2023-02, “Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The amendments in this ASU apply to all reporting entities that hold tax equity investments that meet the conditions for and elect to account for them using the proportional amortization method or an investment in a low income housing tax credit (“LIHTC”) structure through a limited liability entity that is not accounted for using the proportional amortization method and to which certain LIHTC-specific guidance removed from Subtopic 323-740 has been applied. Additionally, the disclosure requirements apply to investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method (including investments within that elected program that do not meet the conditions to apply the proportional amortization method). ASU 2023-02 was effective for United on January 1, 2024. The amendments in this update must be applied on either a modified retrospective or a retrospective basis except for LIHTC investments not accounted for using the proportional amortization method. At January 1, 2024, United chose not to elect to account for its tax equity investments using the proportional amortization method.
 
In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848.” ASU 2022-06 extends the period of time financial statement preparers can utilize the reference rate reform relief guidance. In 2020, the FASB issued ASU 2020-04 to provide temporary, optional expedients related to the accounting for contract modifications and hedging transactions as a result of the global markets’ anticipated transition away from the use of LIBOR and other interbank offered rates to alternative reference rates. At the time ASU 2020-04 was issued, the United Kingdom’s Financial Conduct Authority (“FCA”) had established the intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022; 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of LIBOR in the United States would be June 30, 2023, which has now taken effect as intended. Accordingly, ASU 2022-06 defers the expiration date of ASU 848 to December 31, 2024. United implemented a comprehensive project plan to execute the transition of its LIBOR-based financial instruments to alternative reference rates. United utilized the Secured Overnight Financing Rate (“SOFR”) and Prime as the preferred alternatives to LIBOR.
In June 2022, the FASB issued ASU 2022
-
03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. ASU 2022-03 also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain new disclosures for equity securities subject to contractual sale restrictions. ASU 2022-03 was effective for United on January 1, 2024. The adoption of ASU 2022-03 did not have a material impact on the Company’s financial condition or results of operations.
v3.25.4
Mergers and Acquisitions
 12 Months Ended
Dec. 31, 2025
Business Combinations [Abstract]  
Mergers and Acquisitions
NOTE B--MERGERS AND ACQUISITIONS
On January 10, 2025 (“Acquisition Date”), United consummated its acquisition of Piedmont Bancorp, Inc. (“Piedmont”). Piedmont was merged with and into United (the “Merger”), pursuant to the terms of the Agreement and Plan of Merger, dated May 9, 2024, by and between United and Piedmont (the “Agreement”). The Merger was accounted for under the acquisition method of accounting. Piedmont was the holding company for The Piedmont Bank, a Georgia state-chartered bank, with sixteen locations in the State of Georgia.
Under the terms of the Agreement, each outstanding share of common stock of Piedmont was converted into the right to receive 0.300 shares of United common stock, par value $2.50 per share (the “Exchange Ratio”).
Also pursuant to the Agreement, as of the effective time of the Merger, each option to purchase shares of Piedmont Common Stock (each, a “Piedmont Stock Option”) that was outstanding under the Piedmont Bancorp, Inc. 2009 Stock Option Plan (the “Piedmont Stock Plan”) immediately prior to the effective time of the Merger, was, to the extent not vested, became fully vested and exercisable and was canceled in consideration for the right to receive a lump sum cash payment with respect thereto equal to the product of: (i) the excess, if any, of the product of (A) the volume-weighted average of the closing sales price on Nasdaq of United Common Stock for the 10 full trading days ending on the second trading day immediately preceding the effective date of the Merger (the “Average United Closing Price”) multiplied by (B) the Exchange Ratio, over the applicable exercise price of such Piedmont Stock Option; and (ii) the number of shares of Piedmont Common Stock subject to such Piedmont Stock Option, less any required withholding taxes.
Also pursuant to the Agreement, as of the effective time of the Merger, each warrant to purchase shares of Piedmont Common Stock (each, a “Piedmont Stock Warrant”) that was outstanding under the Piedmont Stock Plan or individual award agreement immediately prior to the Effective Time, was, to the extent not vested, became fully vested and exercisable and canceled, and in consideration therefor, received a lump sum cash payment with respect thereto equal to the product of: (A) the excess, if any, of the product of (x) the Average United Closing Price multiplied by (y) the Exchange Ratio, over the applicable exercise price of such Piedmont Stock Warrant; and (B) the number of shares of Piedmont Common Stock subject to such Piedmont Stock Warrant, less any required withholding taxes.
 
In addition, at the effective time of the Merger, each restricted stock grant, restricted stock unit grant and any other award in respect of a share of Piedmont Common Stock subject to vesting, repurchase or other lapse restriction under a Piedmont Stock Plan that was outstanding immediately prior to the Effective Time other than a Piedmont Option or a Piedmont Stock Warrant (each, a “Piedmont Stock Award”) became fully vested, cancelled and converted automatically into the right to receive the Merger Consideration (with any fractional share being entitled to receive cash in lieu thereof) in respect of each share of Piedmont Common Stock underlying such Piedmont Stock Award, less any required withholding taxes.
Immediately following the Merger, The Piedmont Bank, a wholly-owned subsidiary of Piedmont, merged with and into United Bank, a wholly-owned subsidiary of United (the “Bank Merger”) pursuant to an Agreement and Plan of Merger dated May 9, 2024 (the “Bank Plan of Merger”). United Bank survived the Bank Merger and continues to exist as a Virginia banking corporation. The former Piedmont offices operate under the DBA United Bankshares.
The Piedmont Merger was accounted for under the acquisition method of accounting. The results of operations of Piedmont are included in the consolidated results of operations from the Acquisition Date. At the Acquisition Date, Piedmont had $2,356,883,000 in total assets, $
2,079,933,000 in loans and leases, net of unearned income and $2,105,402,000 in deposits. For the year of 2025, United recorded acquisition-related
costs
for the Piedmont merger of $31,407,000, including a provision for credit losses of $18,726,000 for purchased non-credit deteriorated (“non-PCD”) loans.
The aggregate purchase price was $280,967,000, including common stock valued at $280,946,000 and cash paid for fractional shares of $21,000. The number of shares issued in the transaction was 7,860,831, which were valued based on the closing market price of $35.74 for United’s common shares on January 10, 2025. The purchase price has been allocated to the identifiable tangible and intangible assets resulting in additions to goodwill, and core deposit intangibles of $129,959,000 and $32,764,000, respectively. The goodwill recognized results from the expected synergies and potential earnings from the combination of United and Piedmont. None of the goodwill from the Piedmont acquisition is expected to be deductible for tax purposes. The core deposit intangible is expected to be amortized on an accelerated basis over ten years from the date of the merger.
United used an independent third party to help determine the fair values of the assets and liabilities acquired from Piedmont. As a result of the merger, United recorded fair value discounts of $64,065,000 on the loans and leases acquired, $24,977,000 on available-for-sale investment securities acquired, and $3,492,000 on land acquired, respectively, and premiums of $1,469,000 on buildings acquired and $408,000 on interest-bearing time deposits, respectively. United also recorded an allowance for loan and lease losses of $36,244,000 on the loans acquired split between $17,518,000 for purchased credit deteriorated (“PCD”) loans which is part of the acquisition date fair value, and $18,726,000 for non-PCD loans recorded to the provision for credit losses. In addition, United also recorded a reserve for lending-related commitments of $4,058,000 on the loan commitments acquired with an offset within other expense. The discounts and premium amounts, except for discount on the land acquired, are being accreted or amortized on an accelerated or straight-line basis, based on the type of asset or liability, over each asset’s or liability’s estimated remaining life at the time of acquisition. At December 31, 2025, the premium on the buildings had an average estimated remaining life of 30.50 years.
Portfolio loans acquired from Piedmont were recorded at their fair value at the Acquisition Date based on a discounted cash flow methodology. The estimated fair value incorporates adjustments related to market loss assumptions and prevailing market interest rates for comparable assets and other market factors such as liquidity from the perspective of a market participant. Also, acquired portfolio loans and leases were evaluated upon acquisition and classified as either PCD, which indicates that the loan has experienced a more-than-insignificant deterioration in credit quality since origination, or non-PCD. United considered a variety of factors in evaluating the acquired loans and leases for a more-than-insignificant deterioration in credit quality, including but not limited to risk grades, delinquency, nonperforming status, current or previous troubled debt restructurings or bankruptcies, watch list credits and other qualitative factors that indicated a deterioration in credit quality since origination. For PCD loans and leases, an initial allowance is determined based on the same methodology as other portfolio loans and leases. This initial allowance for loan and lease losses is allocated to individual PCD loans and leases and added to the acquisition date fair values to establish the initial amortized cost basis for the PCD loans and leases. The difference between the unpaid principal balance (“UPB”), or par value, of PCD loans and leases and the amortized cost basis is considered to relate to noncredit factors and resulted in a discount of $20,906,000 at Acquisition Date. This discount will be recognized through interest income on a level-yield method over the life of the loans which is estimated at December 31, 2025 to be a weighted-average of 5.50 years. For non-PCD
 
acquired loans and leases, the differences between the initial fair value and the UPB, or par value, are recognized as interest income on a level-yield basis over the lives of the related loans and leases which at December 31, 2025 is estimated to be a weighted-average of 4.80 years. The total fair value mark on the non-PCD loans at the Acquisition Date was $
43,159,000
. At the Acquisition Date, an initial allowance for expected loan and lease losses of $
18,726,000
was recorded with a corresponding charge to the provision for credit losses in the Consolidated Statements of Income. Subsequent changes in the allowance for credit losses related to PCD and non-PCD loans and leases are recognized in the provision for credit losses.
The following table provides a reconciliation of the difference between the purchase price and the par value of portfolio PCD loans and leases acquired from Piedmont as of the Acquisition Date:
 
(Dollars in thousands)
  
 
 
Purchase price of PCD loans and leases at acquisition
    $ 409,872  
Allowance for credit losses at acquisition
      17,518  
Non-credit discount at acquisition
      20,906  
  
 
 
  
Par value (UPB) of acquired PCD loans and leases at acquisition
    $ 448,296  
  
 
 
  
The consideration paid for Piedmont’s common equity and the amounts of acquired identifiable assets and liabilities assumed as of the Piedmont Acquisition Date were as follows:
 
(Dollars in thousands)
  
 
 
Purchase price:
  
Value of common shares issued (7,860,831 shares)
    $ 280,946  
Cash for fractional shares
      21  
    
 
 
  
Total purchase price
      280,967  
    
 
 
  
Identifiable assets:
   
Cash and cash equivalents
      77,497  
Investment securities
      94,426  
Net loans and leases
      1,998,350  
Premises and equipment
      23,816  
Operating lease right-of-use assets
      5,124  
BOLI
      40,801  
Core deposit intangible
      32,764  
Other assets
      30,573  
    
 
 
  
Total identifiable assets
    $ 2,303,351  
    
 
 
  
Identifiable liabilities:
   
Deposits
    $ 2,105,810  
Long-term borrowings
      20,000  
Operating lease liabilities
      5,744  
Other liabilities
      20,789  
    
 
 
  
Total identifiable liabilities
      2,152,343  
    
 
 
  
Fair value of net assets acquired including identifiable intangible assets
      151,008  
    
 
 
  
Resulting goodwill
    $ 129,959  
  
 
 
  
During the twelve month period subsequent to the Acquisition Date (“Measurement Period”) the Company reviewed information relating to events and circumstances existing as of the Acquisition Date that impacted the preliminary fair value estimates of the acquired assets and liabilities. In the table of acquired net assets above, the amount of net assets acquired reflect Measurement Period adjustments made since the Acquisition Date that resulted in a net increase in net assets acquired of $
4,756,000
and therefore, a corresponding decrease in resulting goodwill from the acquisition. The increase in net assets acquired was primarily driven by an increase of $
5,910,000
in deferred taxes on fair value adjustments partially offset by an increase of $
1,024,000
in accrued liabilities based on factors that were determined to be in existence as of the Acquisition Date.
The operating results of United include operating results of acquired assets and assumed liabilities subsequent to the Acquisition Date. The operations of United’s Georgia geographic area, which comprises the acquired operations of Piedmont provided $
151,925,000
in total revenues (net interest income plus other income), and $
102,675,000
in net income, excluding non-allocated items, since the Acquisition Date. These amounts are included in United’s consolidated financial statements as of December 31, 2025 and for the year of 2025. Piedmont’s results of operations prior to the Acquisition Date are not included in United’s consolidated results of operations.
 
The following table presents certain unaudited pro forma information for the results of operations for the year ended December 31, 2025 and 2024, as if the Piedmont merger had occurred on January 1, 2025 and 2024, respectively. These results combine the historical results of Piedmont into United’s consolidated statement of income and, while certain adjustments were made for the estimated impact of certain fair valuation adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on the indicated date nor are they intended to represent or be indicative of future results of operations. In particular, no adjustments have been made to eliminate the amount of Piedmont’s provision for credit losses for 2025 and 2024 that may not have been necessary had the acquired loans been recorded at fair value as of the beginning of 2025 and 2024. Additionally, United expects to achieve operating cost savings and other business synergies as a result of the acquisition which are not reflected in the pro forma amounts.
 
 
  
Proforma

Year Ended

December 31
 
(Dollars in thousands)
  
2025
 
  
2024
 
Total Revenues
(1)
    $ 1,240,758      $ 1,152,368  
Net Income
      452,896        416,376  
(1)
Represents net interest income plus other income
      
v3.25.4
Investment Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
NOTE C--INVESTMENT SECURITIES
Securities Available for Sale
Securities held for indefinite periods of time are classified as available for sale and carried at estimated fair value. The amortized cost and estimated fair values of securities available for sale are summarized as follows.
 
 
  
December 31, 2025
 
 
  
 
 
  
Gross
 
  
Gross
 
  
Allowance
 
  
Estimated
 
(Dollars in thousands)
  
Amortized
 
  
Unrealized
 
  
Unrealized
 
  
For Credit
 
  
Fair
 
 
  
Cost
 
  
Gains
 
  
Losses
 
  
Losses
 
  
Value
 
  
 
 
 
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 283,058      $ 75      $ 1,476      $ 0      $ 281,657  
State and political subdivisions
      572,217        343        55,634        0        516,926  
Residential mortgage-backed securities Agency
      1,467,436        5,517        114,317        0        1,358,636  
Non-agency
      42,792        330        4,237        0        38,885  
Commercial mortgage-backed securities Agency
      416,177        4,948        26,052        0        395,073  
Asset-backed securities
      225,617        18        2,381        0        223,254  
Single issue trust preferred securities
      13,319        0        661        0        12,658  
Other corporate securities
      244,244        0        11,881        0        232,363  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,264,860      $ 11,231      $ 216,639      $ 0      $ 3,059,452  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
December 31, 2024
 
(Dollars in thousands)
  
Amortized
Cost
 
  
Gross
Unrealized
Gains
 
  
Gross
Unrealized
Losses
 
  
Allowance
For Credit
Losses
 
  
Estimated
Fair
Value
 
  
 
 
 
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 248,867      $ 59      $ 3,084      $ 0      $ 245,842  
State and political subdivisions
      574,580        8        79,515        0        495,073  
Residential mortgage-backed securities Agency
      1,226,400        433        167,114        0        1,059,719  
Non-agency
      88,392        262        6,531        0        82,123  
Commercial mortgage-backed securities
               
Agency
      372,646        38        42,698        0        329,986  
Asset-backed securities
      476,863        166        2,047        0        474,982  
Single issue trust preferred securities
      13,296        0        1,377        0        11,919  
Other corporate securities
      281,646        0        21,571        0        260,075  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,282,690      $ 966      $ 323,937      $ 0      $ 2,959,719  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
For the adoption of ASC Topic 326, “Financial Instruments—Credit Losses,” United made a policy election to exclude accrued interest from the amortized cost basis of available-for-sale debt securities and report accrued interest separately in “Accrued interest receivable” in the consolidated balance sheets. Available-for-sale debt securities are placed on non-accrual status when we no longer expect to receive all contractual amounts due, which is generally at 90 days past due. Accrued interest receivable is reversed against interest income when a security is placed on non-accrual status. Accordingly, United does not currently recognize an allowance for credit loss against accrued interest receivable on available-for-sale debt securities. The table above excludes accrued interest receivable of $12,717,000 and $14,776,000 at December 31, 2025 and December 31, 2024, respectively, that is recorded in “Accrued interest receivable.”
The following is a summary of securities available for sale which were in an unrealized loss position at December 31, 2025 and December 31, 2024.
 
 
  
Less than 12 months
 
  
12 months or longer
 
  
Total
 
  
 
 
 
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
(Dollars in thousands)
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
 
 
 
December 31, 2025
  
  
  
  
  
  
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 133      $ 1      $ 31,485      $ 1,475      $ 31,618      $ 1,476  
State and political subdivisions
      6,177        543        483,564        55,091        489,741        55,634  
Residential mortgage-backed securities
                  
Agency
      109,848        270        795,183        114,047        905,031        114,317  
Non-agency
      0        0        21,189        4,237        21,189        4,237  
Commercial mortgage-backed securities
                  
Agency
      6,287        4        293,038        26,048        299,325        26,052  
Asset-backed securities
      50,181        154        136,940        2,227        187,121        2,381  
Single issue trust preferred securities
      0        0        12,658        661        12,658        661  
Other corporate securities
      0        0        224,942        11,881        224,942        11,881  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
Total
    $ 172,626      $ 972      $ 1,998,999      $ 215,667      $ 2,171,625      $ 216,639  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
 
  
Less than 12 months
 
  
12 months or longer
 
  
Total
 
  
 
 
 
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
(Dollars in thousands)
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
 
 
 
December 31, 2024
  
  
  
  
  
  
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 1,476      $ 3      $ 42,886      $ 3,081      $ 44,362      $ 3,084  
State and political subdivisions
      3,314        22        479,681        79,493        482,995        79,515  
Residential mortgage-backed securities
                  
Agency
      128,655        1,660        856,448        165,454        985,103        167,114  
Non-agency
      0        0        59,668        6,531        59,668        6,531  
Commercial mortgage-backed securities
                  
Agency
      0        0        319,506        42,698        319,506        42,698  
Asset-backed securities
      83,188        50        215,886        1,997        299,074        2,047  
Single issue trust preferred securities
      0        0        11,919        1,377        11,919        1,377  
Other corporate securities
      2,476        24        252,634        21,547        255,110        21,571  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
Total
    $ 219,109      $ 1,759      $ 2,238,628      $ 322,178      $ 2,457,737      $ 323,937  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
The following table shows the proceeds from maturities, sales and calls of available for sale securities and the gross realized gains and losses on sales and calls of those securities that have been included in earnings as a result of any sales and calls. Gains or losses on sales and calls of available for sale securities were recognized by the specific identification method.
 
  
Year Ended
 
(In thousands)
  
2025
 
  
2024
 
  
2023
 
Proceeds from maturities, sales and calls
    $ 2,260,860      $ 2,914,095      $ 952,213  
Gross realized gains
      0        0        0  
Gross realized losses
      0        16,296        7,659  
At December 31, 2025, gross unrealized losses on available for sale securities were $216,639,000 on 864 securities of a total portfolio of 1,045 available for sale securities. Securities with the most significant gross unrealized losses at December 31, 2025 consisted primarily of agency residential mortgage-backed securities, state and political subdivision securities, agency commercial mortgage-backed securities, and other corporate securities.
In determining whether or not a security is impaired, management considered the severity of the loss in conjunction with United’s positive intent and the more likely than not ability to hold these securities to recovery of their cost basis or maturity. Generally, the significant amount of gross unrealized losses on available for sale securities at December 31, 2025 was the result of rising interest rates.
State and political subdivisions
United’s state and political subdivisions portfolio relates to securities issued by various municipalities located throughout the United States. The total amortized cost of available for sale state and political subdivision securities was $572,217,000 at December 31, 2025. As of December 31, 2025, approximately 46% of the portfolio was supported by the general obligation of the issuing municipality, which allows for the securities to be repaid by any means available to the municipality. The majority of the portfolio was rated AA or higher, and no securities within the portfolio were rated below investment grade as of December 31, 2025. In addition to monitoring the credit ratings of these securities, management also evaluates the financial performance of the underlying issuers on an ongoing basis. Based upon management’s analysis and judgment, it was determined that none of the state and political subdivision securities had credit losses at December 31, 2025.
 
Mortgage-backed securities
The fair value of
mortgage-backed
securities is affected by changes in interest rates and prepayment speeds. When interest rates decline, prepayment speeds generally accelerate due to homeowners refinancing their mortgages at lower interest rates. This may result in the proceeds being reinvested at lower interest rates. Rising interest rates may decrease the assumed prepayment speed. Slower prepayment speeds may extend the maturity of the security beyond its estimated maturity. Therefore, investors may not be able to invest at current higher market rates due to the extended expected maturity of the security. United had a net unrealized loss of $133,811,000 on
mortgage-backed
securities at December 31, 2025. Below is a detailed discussion of mortgage-backed securities by type.
United’s agency mortgage-backed securities portfolio relates to securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae. The total amortized cost of available for sale agency mortgage-backed securities was $1,883,613,000 at December 31, 2025. Of the $1,883,613,000 amount, $416,177,000 was related to agency commercial mortgage-backed securities and $1,467,436,000 was related to agency residential mortgage-backed securities. Each of the agency mortgage-backed securities provides a guarantee of full and timely payments of principal and interest by the issuing agency. Based upon management’s analysis and judgment, it was determined that
none
of the agency mortgage-backed securities had credit losses at December 31, 2025.
United’s non-agency residential mortgage-backed securities portfolio relates to securities of various private label issuers. The total amortized cost of available for sale non-agency residential mortgage-backed securities was $42,792,000 at December 31, 2025. Of the $42,792,000, 100% was rated AAA. Based upon management’s analysis and judgment, it was determined that
none
of the non-agency residential mortgage-backed securities had credit losses at December 31, 2025.
Asset-backed securities
As of December 31, 2025, United’s asset-backed securities portfolio had a total amortized cost balance of $225,617,000. 99% of the portfolio was investment grade rated as of December 31, 2025. Approximately 64% of the portfolio relates to securities that are backed by Federal Family Education Loan Program (“FFELP”) student loan collateral which includes a minimum of a 97% government repayment guaranty, as well as additional credit support and subordination in excess of the government guaranteed portion. Approximately 36% of the portfolio relates to collateralized loan obligation securities that are all AAA rated. Upon reviewing this portfolio as of December 31, 2025, it was determined that none of the asset-backed securities had credit losses.
Single issue trust preferred securities
The majority of United’s single issue trust preferred portfolio consists of obligations from large cap banks (i.e. banks with market capitalization in excess of $10 billion). All single issue trust preferred securities are currently receiving interest payments. The amortized cost of available for sale single issue trust preferred securities as of December 31, 2025 consisted of $7,489,000 in investment grade bonds and $5,830,000 in unrated bonds. Management reviews each issuer’s current and projected earnings trends, asset quality, capitalization levels, and other key factors. Upon completing the review for the fourth quarter of 2025, it was determined that none of the single issue trust preferred securities had credit losses.
Corporate securities
As of December 31, 2025, United’s other corporate securities portfolio had a total amortized cost balance of $244,244,000. The majority of the portfolio consisted of debt issuances of corporations representing a variety of industries, including financial institutions. Of the $244,244,000, 95% had at least one rating above investment grade, 2% were below investment grade rated, and 3% were unrated. For other corporate securities, management has evaluated the near-term prospects of the investment in relation to the severity of any unrealized loss. Based upon management’s analysis and judgment, it was determined that none of the other corporate securities had credit losses at December 31, 2025.
The amortized cost and estimated fair value of securities available for sale at December 31, 2025 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because the issuers may have the right to call or prepay obligations without penalties.
 
Maturities of mortgage-backed securities with an amortized cost of $1,926,405,000 and an estimated fair value of $1,792,594,000 at December 31, 2025 are included below based upon contractual maturity.
 
(In thousands)
  
Amortized

Cost
 
  
Estimated

Fair Value
 
Due in one year or less
    $ 298,573      $ 298,193  
Due after one year through five years
      527,383        494,204  
Due after five years through ten years
      559,647        521,011  
Due after ten years
      1,879,257        1,746,044  
  
 
 
     
 
 
  
Total
    $ 3,264,860      $ 3,059,452  
  
 
 
     
 
 
  
Equity securities at fair value
Equity securities consist mainly of equity securities of financial institutions, mutual funds of Community Reinvestment Act (“CRA”) qualified investments and equity securities within a rabbi trust for the payment of benefits under a deferred compensation plan for certain key officers of United and its subsidiaries. The fair value of United’s equity securities was $34,760,000 at December 31, 2025 and $21,058,000 at December 31, 2024.
 
 
  
Year Ended
 
(In thousands)
  
December 31, 2025
 
 
December 31, 2024
 
Net gains recognized during the period on equity securities sold
    $ 0     $ 4,602  
Unrealized gains recognized during the period on equity securities still held at
period end
      11,445       4,259  
Unrealized losses recognized during the period on equity securities still held at period end
      (275 )      (285 ) 
  
 
 
    
 
 
  
Net gains recognized during the period
    $ 11,170     $ 8,576  
  
 
 
    
 
 
  
Other investment securities
During the fourth quarter of 2025, United evaluated all of its cost method investments to determine if certain events or changes in circumstances during the fourth quarter of 2025 had a significant adverse effect on the recorded value of any of its cost method securities. United determined that there was no individual security that experienced an adverse event during the fourth quarter. There were no other events or changes in circumstances during the fourth quarter which would have an adverse effect on the recorded fair value of its cost method securities.
The carrying value of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes as required or permitted by law, approximated $2,102,175,000 and $2,038,864,000 at December 31, 2025 and December 31, 2024, respectively.
v3.25.4
Loans and Leases
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans and Leases
NOTE D—LOANS AND LEASES
Major classes of loans and leases are as follows:
 
(In thousands)
  
December 31, 2025
 
  
December 31, 2024
 
Commercial, financial and agricultural:
  
  
Owner-occupied commercial real estate
    $ 2,145,921      $ 1,590,002  
Nonowner-occupied commercial real estate
      8,343,520        6,939,641  
Other commercial
      3,784,833        3,351,362  
  
 
 
     
 
 
  
Total commercial, financial & agricultural
      14,274,274        11,881,005  
Residential real estate
      6,098,262        5,507,384  
Construction & land development
      3,570,902        3,509,034  
Consumer:
      
Bankcard
      9,686        9,998  
Other consumer
      767,496        773,077  
Less: Unearned income
      (11,498 )       (7,005 ) 
  
 
 
     
 
 
  
Loans and leases, net of unearned income
    $ 24,709,122      $ 21,673,493  
  
 
 
     
 
 
  
 
The table above does not include loans held for sale of $31,277,000 and $44,360,000 at December 31, 2025 and December 31, 2024, respectively. Loans held for sale consist of single-family residential real estate loans originated for sale in the secondary market.
At December 31, 2025 and 2024, loans-in-process of $34,905,000 and $5,569,000 and overdrafts from deposit accounts of $4,331,000 and $4,919,000, respectively, are included within the appropriate loan classifications above. The outstanding loan balances in the table above also include unamortized net discounts of $56,690,000 and $26,322,000 at December 31, 2025 and December 31, 2024, respectively.
United’s subsidiary bank has made loans, in the normal course of business, to the directors and officers of United and its subsidiaries, and to their associates. The aggregate dollar amount of these loans was $42,441,000 and $22,702,000 at December 31, 2025 and 2024, respectively. During 2025, $22,432,000 of new loans were made and repayments totaled $2,693,000.
v3.25.4
Credit Quality
 12 Months Ended
Dec. 31, 2025
Text Block [Abstract]  
Credit Quality
NOTE E--CREDIT QUALITY
Management monitors the credit quality of its loans and leases on an ongoing basis. Measurement of delinquency and past due status are based on the contractual terms of each loan. United considers a loan to be past due when it is 30 days or more past its contractual payment due date.
For all loan classes, past due loans and leases are reviewed on a monthly basis to identify loans and leases for nonaccrual status. Generally, when collection in full of the principal and interest is jeopardized, the loan is placed on nonaccrual status. The accrual of interest income on commercial and most consumer loans generally is discontinued when a loan becomes 90 to 120 days past due as to principal or interest. However, regardless of delinquency status, if a loan is fully secured and in the process of collection and resolution of collection is expected in the near term (generally less than 90 days), then the loan will not be placed on nonaccrual status. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and unpaid interest accrued in prior years is charged to the allowance for credit losses. United’s method of income recognition for loans and leases that are classified as nonaccrual is to recognize interest income on a cash basis or apply the cash receipt to principal when the ultimate collectability of principal is in doubt. Nonaccrual loans and leases will not normally be returned to accrual status unless all past due principal and interest has been paid and the borrower has evidenced their ability to meet the contractual provisions of the note.
The following table sets forth United’s age analysis of its past due loans and leases, segregated by class of loans and leases:
 
Age Analysis of Past Due Loans and Leases
As of December 31, 2025
 
(In thousands)
  
30-89
Days Past
Due
 
  
90 Days or
more Past
Due
 
  
Total Past
Due
 
  
Current &
Other
 
  
Total

Financing
Receivables
 
  
90 Days or
More Past
Due &
Accruing
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 4,754      $ 1,830      $ 6,584      $ 2,139,337      $ 2,145,921      $ 81  
Nonowner-occupied
      7,598        71,038        78,636        8,264,884        8,343,520        0  
Other commercial
      2,490        6,569        9,059        3,775,774        3,784,833        591  
Residential real estate
      25,026        19,124        44,150        6,054,112        6,098,262        3,701  
Construction & land
development
      1,508        1,301        2,809        3,568,093        3,570,902        0  
Consumer:
                  
Bankcard
      28        54        82        9,604        9,686        54  
Other consumer
      13,661        1,550        15,211        752,285        767,496        547  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 55,065      $ 101,466      $ 156,531      $ 24,564,089      $ 24,720,620      $ 4,974  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
Age Analysis of Past Due Loans and Leases
As of December 31, 2024
 
(In thousands)
  
30-89
Days Past
Due
 
  
90 Days or
more Past
Due
 
  
Total Past
Due
 
  
Current &
Other
 
  
Total

Financing
Receivables
 
  
90 Days or
More

Past Due &
Accruing
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 3,767      $ 1,284      $ 5,051      $ 1,584,951      $ 1,590,002      $ 0  
Nonowner-occupied
      11,931        23,379        35,310        6,904,331        6,939,641        0  
Other commercial
      5,594        19,019        24,613        3,326,749        3,351,362        431  
Residential real estate
      33,783        20,946        54,729        5,452,655        5,507,384        12,429  
Construction & land development
      390        4,265        4,655        3,504,379        3,509,034        1,677  
Consumer:
                  
Bankcard
      63        61        124        9,874        9,998        61  
Other consumer
      28,414        4,446        32,860        740,217        773,077        2,342  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 83,942      $ 73,400      $ 157,342      $ 21,523,156      $ 21,680,498      $ 16,940  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
The following table sets forth United’s nonaccrual loans and leases, segregated by class of loans and leases:
 
 
  
At December 31, 2025
 
  
At December 31, 2024
 
(In thousands)
  
Nonaccruals
 
  
With No
Related
Allowance

for Credit
Losses
 
  
Nonaccruals
 
  
With No
Related
Allowance

for Credit
Losses
 
Commercial Real Estate:
  
  
  
  
Owner-occupied
    $ 1,749      $ 1,749      $ 1,284      $ 1,284  
Nonowner-occupied
      71,038        71,038        23,379        8,475  
Other Commercial
      5,978        3,515        18,588        584  
Residential Real Estate
      15,423        15,423        8,517        5,562  
Construction
      1,301        1,301        2,588        2,589  
Consumer:
            
Bankcard
      0        0        0        0  
Other consumer
      1,003        1,003        2,104        2,104  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 96,492      $ 94,029      $ 56,460        $20,598  
  
 
 
     
 
 
     
 
 
     
 
 
  
Interest income recognized on nonaccrual loans was insignificant during the year ended December 31, 2025 and 2024.
In some cases, United will modify a loan to a borrower experiencing financial difficulty by providing multiple types of concessions such as a term extension, principal forgiveness, an interest rate reduction or a combination thereof. The following table presents the amortized cost of loans and leases to borrowers experiencing financial difficulty modified during the years of 2025 and 2024, respectively, by class of financing receivable and by type of modification. The percentage of the amortized cost basis of loans and leases that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of financing receivable is also represented below.
 
 
  
Amortized Cost Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty
 
 
  
For the Year ended December 31, 2025
 
(Dollars in thousands)
  
Term
 Extension 
 
  
Other-

Than-
Insignificant

Payment

Delay
 
  
Interest Rate
Reduction
 
  
Term Extension &
 Interest Rate 
Reduction
 
  
Interest Rate Reduction
& Payment Delay
 
  
% of Total Class of
Financing Receivable
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 8,015      $ 0      $ 0      $ 0      $ 3,466        0.54 % 
Nonowner-
occupied
      7,460        7,160        4,616        0        0        0.23 % 
Other commercial
      0        0        0        1,000        0        0.03 % 
Residential real estate
      0        0        0        0        0        0.00 % 
Construction & land development
      0        0        0        0        0        0.00 % 
Consumer:
                  
Bankcard
      0        0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 15,475      $ 7,160      $ 4,616      $ 1,000      $ 3,466        0.13 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  

  
 
Amortized Cost Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty
 
 
  
For the Year ended December 31, 2024
 
(Dollars in thousands)
  
 
Term
 Extension 
 
 
  
 
Other-
Than-
Insignificant

Payment
Delay


 

 
 
  
 
 Interest Rate 
Reduction
 
 
  
 
Term Extension

& Interest Rate
Reduction
 

 
 
  
 
Term Extension &
Payment Delay
 
 
  
 
% of Total Class of
Financing Receivable
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 445      $ 0      $ 0      $ 0      $ 0        0.03 % 
Nonowner-occupied
      5,765        0        0        0        0        0.08 % 
Other commercial
      0        0        0        2,400        0        0.00 % 
Residential real estate
      185        0        0        0        168        0.06 % 
Construction & land development
      52        0        0        0        0        0.00 % 
Consumer:
                  
Bankcard
      0        0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 6,447      $ 0      $ 0      $ 2,400      $ 168        0.04 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2025, there was a commitment to lend additional funds of $139,000 to two debtors owing a loan receivable whose terms have been modified.
United’s estimate of future credit losses uses a lifetime methodology, derived from modeled loan performance based on the extensive historical experience of loans with similar risk characteristics, adjusted to reflect current conditions and reasonable and supportable forecasts. The historical loss experience used in United’s credit loss models includes the impact of loan modifications provided to borrowers experiencing financial difficulty, and also includes the impact of projected loss severities as a result of loan defaults.
United closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance in the 12 months after a modification made to borrowers experiencing financial difficulty presented by class of financing receivable:
 
 
  
Payment Status (Amortized Cost Basis)
 
 
  
As of December 31, 2025
 
  
As of December 31, 2024
 
(In thousands)
  
Current
 
  
30-89
 Days Past 
Due
 
  
90+
 Days Past 
Due
 
  
Current
 
  
30-89
 Days Past 
Due
 
  
90+
 Days Past 
Due
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 11,481      $ 0      $ 0      $ 445      $ 0      $ 0  
Nonowner-occupied
      14,838        4,398        0        1,366        4,399        0  
Other commercial
      1,000        0        0        2,400        0        0  
Residential real estate
      0        0        0        297        56        0  
Construction & land development
      0        0        0        52        0        0  
Consumer:
                  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 27,319      $ 4,398      $ 0      $ 4,560      $ 4,455      $ 0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
 
The following table presents the financial effect of loan and lease modifications to borrowers experiencing financial difficulty for the year ended December 31, 2025 and 2024.

 
  
For the Year Ended
 
 
  
December 31, 2025
 
  
December 31, 2024
 
 
  
Weighted-
Average
Interest Rate
Reduction
 
 
Weighted-
Average
Other-Than-

Insignificant
Payment
Delay (in
years)
 
  
Weighted
Average Term
Extension

(in years)
 
  
Weighted-
Average
Interest Rate
Reduction
 
 
Weighted
Average Term
Extension

(in years)
 
Commercial Real Estate:
  
 
  
  
Owner-occupied
        0.50 %        2.4          0.8          0.00 %        0.3  
Nonowner-occupied
      0.50 %      1.6        0.4        0.00 %      0.5  
Other Commercial
      0.00 %      0        0.3        1.00 %      0.3  
Residential Real Estate
      0.00 %      0        0        0.00 %      4.9  
Construction & land
development
      0.00 %      0        0        0.00 %      4.5  
Consumer:
             
Bankcard
      0.00 %      0        0        0.00 %      0  
Other consumer
        0.00 %      0        0        0.00 %        0  
No loan or lease modifications completed within the last 12 months to borrowers experiencing financial difficulty had a payment default during the year ended December 31, 2025. The following table presents loan or lease modifications completed within the 12-month period ended December 31, 2024 to borrowers experiencing financial difficulty had a payment default during the year ended December 31, 2024
.
 
 
  
For the Year ended December 31, 2024
 
(Dollars in thousands)
  
Term
 Extension 
 
  
 Interest Rate 
Reduction
 
  
Term
Extension &
Interest Rate
Reduction
 
  
Term
Extension &
Payment
Delay
 
  
% of Total Class of
 Financing Receivable 
 
Commercial real estate:
  
  
  
  
  
Owner-occupied
    $ 0      $ 0      $ 0      $ 0        0.00 % 
Nonowner-occupied
      0        0        0        0        0.00 % 
Other commercial
      0        0        0        0        0.00 % 
Residential real estate
      0        0        0        0        0.00 % 
Construction & land
development
      0        0        0        674        0.02 % 
Consumer:
               
Bankcard
      0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 0      $ 0      $ 0      $ 674        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
United elected the practical expedient to measure expected credit losses on collateral dependent loans and leases based on the difference between the loan’s amortized cost and the collateral’s fair value, adjusted for selling costs.
The following table presents the amortized cost basis of collateral-dependent loans and leases in which repayment is expected to be derived substantially through the operation or sale of the collateral and where the borrower is experiencing financial difficulty, by class of loans and leases as of December 31, 2025 and December 31, 2024:
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2025
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 0      $ 0      $ 0      $ 3,094      $ 19,366      $ 22,460  
Nonowner-occupied
      6,830        0        0        84,786        38,761        130,377  
Other commercial
      0        4,005        0        4,893        3,174        12,072  
Residential real estate
      6,049        0        0        0        5        6,054  
Construction & land
development
      250        0        849        0        1,170        2,269  
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2025
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Consumer:
  
  
  
  
  
  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 13,129      $ 4,005      $ 849      $ 92,773      $ 62,476      $ 173,232  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2024
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 5      $ 0      $ 0      $ 3,119      $ 6,465      $ 9,589  
Nonowner-occupied
      7,037        0        0        23,975        2,367        33,379  
Other commercial
      0        15,816        0        5,041        528        21,385  
Residential real estate
      7,348        0        0        0        11        7,359  
Construction & land
development
      0        0        2,492        0        873        3,365  
Consumer:
                  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 14,390      $ 15,816      $ 2,492      $ 32,135      $ 10,244      $ 75,077  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
United categorizes loans and leases into risk categories based on relevant information about the ability of borrowers to service their debt: current financial information, historical payment experience, credit documentation, underlying collateral (if any), public information and current economic trends, among other factors.
United uses the following definitions for risk ratings:
 
  •  
Pass
  •  
Special Mention
  •  
Substandard
  •  
Doubtful
For United’s loans with a corporate credit exposure, United analyzes loans individually to classify the loans as to credit risk. Review and analysis of criticized (special mention-rated loans in the amount of $1,000,000 or greater) and classified (substandard-rated and worse in the amount of $500,000 and greater) loans is completed once per quarter. Review of notes with committed exposure of $3,000,000 or greater is completed at least annually. For loans with a consumer credit exposure, United internally assigns a grade based upon an individual loan’s delinquency status. United reviews and updates, as necessary, these grades on a quarterly basis.
Special mention loans, with a corporate credit exposure, have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loans or in the Company’s credit position at some future date. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons for rating a credit exposure special mention include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. For loans with a consumer credit exposure, loans that are past due 30-89 days are generally considered special mention.
A substandard loan with a corporate credit exposure is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt by the borrower. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. They require more intensive supervision by
 
management. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. For some substandard loans, the likelihood of full collection of interest and principal may be in doubt and thus, placed on nonaccrual. For loans with a consumer credit exposure, loans that are 90 days or more past due or that have been placed on nonaccrual are considered substandard.
A loan with
 
corporate credit exposure is classified as doubtful if it has all the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection in full, on the basis of currently existing facts, conditions, and values, highly questionable. A doubtful loan has a high probability of total or substantial loss, but because of specific pending events that may strengthen the loan, its classification as loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral, and refinancing. Generally, there are not any loans with a consumer credit exposure that are classified as doubtful. Usually, they are charged-off prior to such a classification.
Based on the most recent analysis performed, the risk category of loans and leases as well as charge-offs and recoveries by class of loans is as follows. Loans originated in any year may be renewals of existing loans and not necessarily new loans.
 
Commercial Real Estate – Owner-occupied
 
  
Revolving

loans

converted to
term loans
 
  
 
 
 
  
Term Loans
 
 
Revolving loans
amortized cost
basis
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
Prior
 
Internal Risk Grade:
  
  
  
  
  
  
 
  
  
Pass
    $ 353,313      $ 362,198      $ 196,733      $ 301,328      $ 278,290      $ 555,204     $ 51,711      $ 0      $ 2,098,777  
Special Mention
      0        0        4,842        0        0        3,727       2,695        0        11,264  
Substandard
      0        246        4,027        3,402        0        19,671       8,220        116        35,682  
Doubtful
      0        0        0        0        0        198       0        0        198  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 353,313      $ 362,444      $ 205,602      $ 304,730      $ 278,290      $ 578,800     $ 62,626      $ 116      $ 2,145,921  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        0        0        0        0        (228 )      0        0        (228 ) 
Current-period recoveries
      0        0        0        14        0        304       0        0        318  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net recoveries
    $ 0      $ 0      $ 0      $ 14      $ 0      $ 76     $ 0      $ 0      $ 90  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
 
  
Term Loans
 
 
Revolving loans
amortized cost
basis
 
  
Revolving

loans

converted to
term loans
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2024
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
2020
 
  
Prior
 
Internal Risk Grade:
  
  
  
  
  
  
 
  
  
Pass
    $ 236,547      $ 132,095      $ 243,103      $ 225,152      $ 205,461      $ 467,417     $ 29,900      $ 0      $ 1,539,675  
Special Mention
      0        0        0        0        0        15,199       8,545        0        23,744  
Substandard
      247        0        3,493        0        307        21,744       445        121        26,357  
Doubtful
      0        0        0        0        0        226       0        0        226  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 236,794      $ 132,095      $ 246,596      $ 225,152      $ 205,768      $ 504,586     $ 38,890      $ 121      $ 1,590,002  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-
offs
      0        0        0        0        0        (116 )      0        0        (116 ) 
Current-period recoveries
      0        0        15        0        0        1,168       0        0        1,183  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
recoveries
    $
 
 
 0      $
 
 
 
 0      $
 
 
 
 
 15      $
 
 
 
 0      $
 
 
 
 0      $
 
 
 1,052     $ 0      $ 0      $ 1,067  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Commercial Real Estate – Nonowner-occupied
 
  
 
 
  
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
 
 
  
 
 
  
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
  
Revolving

loans

converted to

term loans
 
  
Total
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
Prior
 
Internal Risk Grade:
  
      
  
      
  
      
  
      
  
      
  
      
 
      
  
      
  
      
Pass
   $ 1,628,785     $ 856,235     $ 760,043     $ 1,917,759     $ 1,165,300     $ 1,397,941     $ 143,406     $ 0     $ 7,869,469  
Special Mention
     1,983       0       7,058       51,603       113,708       120,213       0       0       294,565  
Substandard
     0       0       5,431       48,950       5,323       97,607       22,175       0       179,486  
Doubtful
     0       0       0       0       0       0       0       0       0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
   $ 1,630,768     $ 856,235     $ 772,532     $ 2,018,312     $ 1,284,331     $ 1,615,761     $ 165,581     $ 0     $ 8,343,520  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period
charge-offs
     0       0       0       0       0       (35,798 )      0       0       (35,798 ) 
Current-period recoveries
     0       0       0       0       0       160       0       0       160  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Current-period net
charge-offs
   $        0            0     $        0     $        0     $        0     $ (35,638 )    $       0     $    0
  $ (35,638 ) 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
  
Revolving

loans and
leases converted
to term loans
 
  
 
 
As of December 31, 2024
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
2020
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                         
Pass
    $ 741,996      $ 485,437      $ 1,623,423      $ 1,294,232      $ 639,143     $ 1,584,833     $ 160,243      $ 78      $ 6,529,385  
Special Mention
      0        0        8,465        82,240        29,940       210,912       0        0        331,557  
Substandard
      0        0        4,085        4,020        143       48,633       21,818        0        78,699  
Doubtful
      0        0        0        0        0       0       0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 741,996      $ 485,437      $ 1,635,973      $ 1,380,492      $ 669,226     $ 1,844,378     $ 182,061      $ 78      $ 6,939,641  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        0        0        0        (751 )      (1,830 )      0        0        (2,581 ) 
Current-period recoveries
      0        0        0        0        0       200       0        0        200  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
(charge-offs) recoveries
    $ 0      $ 0      $ 0      $ 0      $ (751 )    $ (1,630 )    $ 0      $ 0      $ (2,381 ) 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Other commercial
(In thousands)
  
Term Loans and leases

Origination Year
 
 
Revolving
loans and leases
amortized cost

basis
 
 
Revolving

loans and leases

converted to

term loans
 
  
 
 
As of December 31, 2025
  
2025
 
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                     
Pass
    $ 628,597      $ 373,700     $ 472,334     $ 214,442     $ 324,424     $ 600,824     $ 1,117,879     $ 47      $ 3,732,247  
Special Mention
      5        431       117       949       1,128       9,012       458       0        12,100  
Substandard
      0        1,689       2,853       6,225       6,926       17,469       5,324       0        40,486  
Doubtful
      0        0       0       0       0       0       0       0        0  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 628,602      $ 375,820     $ 475,304     $ 221,616     $ 332,478     $ 627,305     $ 1,123,661     $ 47      $ 3,784,833  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (48 )      (150 )      (229 )      (1,625 )      (2,459 )      (913 )      0        (5,424 ) 
Current-period recoveries
      0        0       27       75       32       2,111       64       0        2,309  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net charge- offs
    $ 0      $ (48 )    $ (123 )    $ (154 )    $ (1,593 )    $ (348 )    $ (849 )    $ 0      $ (3,115 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
 
  
Term Loans and leases
 
 
Revolving loans
and leases
amortized cost
basis
 
 
Revolving

loans and leases

converted to
term loans
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2024
  
2024
 
  
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
Internal Risk Grade:
                     
Pass
    $ 403,641      $ 505,947     $ 378,072     $ 394,412     $ 164,671     $ 519,488     $ 912,293     $ 0      $ 3,278,524  
Special Mention
      81        36       1,129       339       251       18,941       4,652       0        25,429  
Substandard
      206        419       18,927       7,029       835       11,262       8,706       0        47,384  
Doubtful
      0        0       0       0       0       25       0       0        25  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 403,928      $ 506,402     $ 398,128     $ 401,780     $ 165,757     $ 549,716     $ 925,651     $ 0      $ 3,351,362  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (464 )      (252 )      (156 )      (148 )      (1,352 )      (1,217 )      0        (3,589 ) 
Current-period recoveries
      10        67       9       45       0       1,512       7       0        1,650  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net
recoveries (charge- offs)
    $ 10      $ (397 )    $ (243 )    $ (111 )    $ (148 )    $ 160     $ (1,210 )    $ 0      $ (1,939 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
Residential Real Estate
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
basis
     
Revolving

loans

converted to
term loans
         
As of December 31, 2025
   
2025
     
2024
    
2023
    
2022
    
2021
    
Prior
     
Total
  
Internal Risk Grade:
                      
Pass
    $ 746,665      $ 427,238     $ 784,994     $ 1,608,513     $ 822,932     $ 1,148,481     $ 533,509      $ 160      $ 6,072,492  
Special Mention
      0        476       104       0       0       4,048       637        0        5,265  
Substandard
      0        407       107       0       7,800       11,984       207        0        20,505  
Doubtful
      0        0       0       0       0       0       0        0        0  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 746,665      $ 428,121     $ 785,205     $ 1,608,513     $ 830,732     $ 1,164,513     $ 534,353      $ 160      $ 6,098,262  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        (67 )      (205 )      (189 )      (6 )      (532 )      0        0        (999 ) 
Current-period recoveries
      0        0       0       0       2       701       1        0        704  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
(charge- offs) recoveries
    $ 0      $ (67 )    $ (205 )    $ (189 )    $ (4 )    $ 169     $ 1      $ 0      $ (295 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving
loans
amortized
cost basis
 
 
Revolving

loans

converted to
term loans
 
  
 
 
As of December 31, 2024
  
2024
 
  
2023
 
 
2022
 
 
2021
 
  
2020
 
  
Prior
 
  
Total
 
Internal Risk Grade:
  
  
 
 
  
  
 
 
  
Pass
    $ 407,430      $ 820,059     $ 1,617,541     $ 827,395      $ 396,094      $ 971,226     $ 447,363     $ 2,467      $ 5,489,575  
Special Mention
      382        107       0       0        0        2,466       1,326       0        4,281  
Substandard
      0        0       0       508        0        12,430       507       83        13,528  
Doubtful
      0        0       0       0        0        0       0       0        0  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 407,812      $ 820,166     $ 1,617,541     $ 827,903      $ 396,094      $ 986,122     $ 449,196     $ 2,550      $ 5,507,384  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (7 )      (2 )      0        0        (359 )      (113 )      0        (481 ) 
Current-period recoveries
      0        0       0       5        0        489       1       0        495  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net (charge- offs) recoveries
    $ 0      $ (7 )    $ (2 )    $ 5      $ 0      $ 130     $ (112 )    $ 0      $ 14  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
 
Construction and Land Development
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
 
Revolving

loans

converted to
term loans
 
  
 
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
 
2022
 
  
2021
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                       
Pass
    $ 1,031,215      $ 992,846      $ 693,752     $ 401,811      $ 65,460     $ 27,716     $ 305,750     $ 0      $ 3,518,550  
Special Mention
      0        2,827        30,509       0        4,208       8,281       0       0        45,825  
Substandard
      541        0        4,468       34        0       1,484       0       0        6,527  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 1,031,756      $ 995,673      $ 728,729     $ 401,845      $ 69,668     $ 37,481     $ 305,750     $ 0      $ 3,570,902  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        (141 )      0        (103 )      (164 )      0       0        (408 ) 
Current-period recoveries
      0        0        0       0        0       225       0       0        225  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net (charge-offs) recoveries
    $ 0      $ 0      $ (141 )    $ 0      $ (103 )    $ 61     $ 0     $ 0      $ (183 ) 
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
basis
    
Revolving
loans
converted to
term loans
         
As of December 31, 2024
   
2024
     
2023
     
2022
    
2021
     
2020
    
Prior
     
Total
  
Internal Risk Grade:
                       
Pass
    $ 628,186      $ 837,662      $ 1,253,480     $ 426,662      $ 18,559     $ 18,542     $ 302,302     $ 0      $ 3,485,393  
Special Mention
      0        0        1,455       18,356        57       153       0       0        20,021  
Substandard
      0        0        0       200        1,607       1,813       0       0        3,620  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 628,186      $ 837,662      $ 1,254,935     $ 445,218      $ 20,223     $ 20,508     $ 302,302     $ 0      $ 3,509,034  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        0       0        0       (29 )      0       0        (29 ) 
Current-period recoveries
      0        0        0       0        0       319       0       0        319  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net recoveries
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 290     $ 0     $ 0      $ 290  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Bankcard
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
    
Revolving
loans
converted to
         
As of December 31, 2025
   
2025
     
2024
     
2023
    
2022
     
2021
    
Prior
    
basis
    
term loans
     
Total
  
Internal Risk Grade:
                       
Pass
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ 9,603     $ 0      $ 9,603  
Special Mention
      0        0        0       0        0       0       28       0        28  
Substandard
      0        0        0       0        0       0       55       0        55  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ 9,686     $ 0      $ 9,686  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        0       0        0       0       (320 )      0        (320 ) 
Current-period recoveries
      0        0        0       0        0       0       55       0        55  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net charge-offs
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ (265 )    $ 0      $ (265 ) 
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
 
Revolving loans
converted to
 
  
 
 
As of December 31, 2024
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
 
basis
 
 
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
  
Pass
  
$
0
 
 
$
  
0
 
 
 $
  
0
 
 
 $
  
0
 
 
 $
  
0
 
 
 $
 
0
 
 
$
9,874
 
 
$
0
 
  
$
 
9,874
 
Special Mention
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
63
 
 
 
0
 
  
 
63
 
Substandard
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
61
 
 
 
0
 
  
 
61
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Total
  
$
0
 
 
$
0
 
 
$
 
0
 
 
$
 
 
0
 
 
$
 
 
0
 
 
$
 
 
0
 
 
$
9,998
 
 
$
0
 
  
$
9,998
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period charge-offs
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
(431
) 
 
 
0
 
  
 
(431
) 
Current-period recoveries
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
19
 
 
 
0
 
  
 
19
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
(412
) 
 
$
0
 
  
$
(412
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Other Consumer
  
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
 
Revolving loans
converted to
 
  
 
 
As of December 31, 2025
  
2025
 
 
2024
 
 
2023
 
 
2022
 
 
2021
 
 
Prior
 
 
basis
 
 
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
  
Pass
  
$
346,057
 
 
$
90,623
 
 
$
79,353
 
 
$
157,220
 
 
$
57,987
 
 
$
18,929
 
 
$
2,104
 
 
$
0
 
  
$
752,273
 
Special Mention
  
 
682
 
 
 
446
 
 
 
821
 
 
 
6,741
 
 
 
3,794
 
 
 
1,171
 
 
 
13
 
 
 
0
 
  
 
13,668
 
Substandard
  
 
221
 
 
 
57
 
 
 
88
 
 
 
617
 
 
 
464
 
 
 
101
 
 
 
7
 
 
 
0
 
  
 
1,555
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Total
  
$
346,960
 
 
$
91,126
 
 
$
  
80,262
 
 
$
164,578
 
 
$
62,245
 
 
$
20,201
 
 
$
2,124
 
 
$
0
 
  
$
767,496
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period charge-offs
  
 
(15
) 
 
 
(185
) 
 
 
(507
) 
 
 
(4,547
) 
 
 
(1,698
) 
 
 
(783
) 
 
 
0
 
 
 
0
 
  
 
(7,735
) 
Current-period recoveries
  
 
0
 
 
 
7
 
 
 
78
 
 
 
642
 
 
 
273
 
 
 
429
 
 
 
0
 
 
 
0
 
  
 
1,429
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
(15
) 
 
$
(178
) 
 
$
(429
) 
 
$
(3,905
) 
 
$
(1,425
) 
 
$
(354
) 
 
$
0
 
 
$
0
 
  
$
(6,306
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
  
Revolving
loans
converted to
 
  
 
 
As of December 31, 2024
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
 
basis
 
  
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Pass
  
$
139,908
 
 
$
131,108
 
 
$
276,041
 
 
$
118,478
 
 
$
49,553
 
 
$
22,913
 
 
$
2,215
 
  
$
0
 
  
$
740,216
 
Special Mention
  
 
495
 
 
 
1,805
 
 
 
13,462
 
 
 
8,485
 
 
 
2,704
 
 
 
1,440
 
 
 
23
 
  
 
0
 
  
 
28,414
 
Substandard
  
 
76
 
 
 
182
 
 
 
2,454
 
 
 
1,106
 
 
 
358
 
 
 
261
 
 
 
10
 
  
 
0
 
  
 
4,447
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Total
  
$
140,479
 
 
$
133,095
 
 
$
291,957
 
 
$
128,069
 
 
$
52,615
 
 
$
24,614
 
 
$
2,248
 
  
$
0
 
  
$
773,077
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Current-period charge-offs
  
 
(28
) 
 
 
(206
) 
 
 
(5,724
) 
 
 
(3,096
) 
 
 
(869
) 
 
 
(380
) 
 
 
0
 
  
 
0
 
  
 
(10,303
) 
Current-period recoveries
  
 
0
 
 
 
21
 
 
 
402
 
 
 
241
 
 
 
125
 
 
 
330
 
 
 
0
 
  
 
0
 
  
 
1,119
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
(28
) 
 
$
(185
) 
 
$
(5,322
) 
 
$
(2,855
) 
 
$
(744
) 
 
$
(50
) 
 
$
0
 
  
$
0
 
  
$
(9,184
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
v3.25.4
Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Allowance for Credit Losses
N
OTE F—ALLOWANCE FOR CREDIT LOSSES
The allowance for loan losses is an estimate of the expected credit losses on financial assets measured at amortized cost to present the net amount expected to be collected as of the balance sheet date. Such allowance is based on the credit losses expected to arise over the life of the asset (contractual term). Assets are charged off when United determines that such financial assets are deemed uncollectible or based on regulatory requirements, whichever is earlier. Charge-offs are recognized as a deduction from the allowance for credit losses. Expected recoveries of amounts previously charged-off, not to exceed the aggregate of the amount previously charged-off, are included in determining the necessary reserve at the balance sheet date.
United
made a policy election to present the balance separately in its consolidated balance sheets from the amortized cost of a loan. Accrued interest receivable was $95,960,000 and $87,062,000 at December 31, 2025 and December 31, 2024, respectively, related to loans and leases are included separately in “Accrued interest receivable” in the consolidated balance sheets. For all classes of loans and leases receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due, unless the loan is well secured and in the process of collection. Interest received on nonaccrual loans and leases, generally is either applied against principal or reported as interest income, according to management’s judgment as to the collectability of principal.
 
The following table represents the accrued interest receivable as of December 31, 2025 and December 31, 2024:
 
 
 
 
 
 
 
 
 
 
 
  
Accrued Interest Receivable
 
(In thousands)
  
At December 31, 2025
 
  
At December 31, 2024
 
Commercial Real Estate:
  
      
  
      
Owner-occupied
    $ 6,922      $ 4,700  
Nonowner-occupied
      37,086        30,582  
Other Commercial
      11,822        10,512  
Residential Real Estate
      21,643        21,662  
Construction
      16,046        17,174  
Consumer:
      
Bankcard
      0        0  
Other consumer
      2,441        2,432  
  
 
 
     
 
 
  
Total
    $ 95,960      $ 87,062  
  
 
 
     
 
 
  
The following table represents the accrued interest receivables written off by reversing interest income for the year ended December 31, 2025 and December 31, 2024:
 
 
 
 
 
 
 
 
 
 
 
  
Accrued Interest Receivables Written Off
by Reversing Interest Income
 
(In thousands)
  
Year Ended
 
 
  
 2025 
 
  
 2024 
 
Commercial Real Estate:
  
      
  
      
Owner-occupied
    $ 90      $ 186  
Nonowner-occupied
      1,481        853  
Other Commercial
      82        736  
Residential Real Estate
      577        232  
Construction
      267        23  
Consumer:
      
Bankcard
      0        0  
Other consumer
      241        345  
  
 
 
     
 
 
  
Total
    $ 2,738      $ 2,375  
  
 
 
     
 
 
  
United maintains an allowance for loan losses and a reserve for lending-related commitments such as unfunded loan commitments and letters of credit. For a detailed discussion of the methodology used to estimate the reserve for lending-related commitments, see Note A, “Summary of Significant Accounting Policies.” The reserve for lending-related commitments of $35,075,000 and $34,911,000 at December 31, 2025 and December 31, 2024, respectively, is separately classified on the balance sheet within liabilities. The combined allowance for loan losses and reserve for lending-related commitments is considered the allowance for credit losses.
United continuously evaluates any risks which may impact its loan and lease portfolios. Reserves are initially determined based on losses identified from the PD/LGD and Cohort models which utilize the Company’s historical information. Then any qualitative adjustments are applied to account for the Company’s view of the future and other factors. If current conditions underlying any qualitative adjustment factor were deemed to be materially different than historical conditions, then an adjustment was made for that factor.
United’s allowance for loan and lease losses at December 31, 2025 increased $25,674,000 or 9.44% from December 31, 2024. As previously mentioned, during the year of 2025, United recorded an allowance for loan and lease losses on acquired Piedmont non-PCD loans of $18,726,000 and on acquired Piedmont PCD loans of $17,518,000.
The year of 2025 qualitative adjustments include analyses of the following:
 
 
•
 
Current conditions
– United considered the impact of changes in economic and business conditions; collateral values for dependent loans; past due, nonaccrual and adversely classified loans and leases; external environment; and concentrations of credit.
 
•
 
Reasonable and supportable forecasts
– The forecast is determined on a portfolio-by-portfolio basis by relating the correlation of real GDP and the unemployment rate to loss rates to forecasts of those variables. The reasonable and supportable forecast selection is subjective in nature and requires more judgment compared to the other components of the allowance. Assumptions for the economic variables were the following:
 
 
Ø
  
The forecast for real GDP improved in the fourth quarter, from a projection of 1.80% for 2026 as of mid-September 2025 to 2.30% for 2026 as of mid-December with a projection of 2.00% for 2027. The unemployment rate forecast remained consistent in the fourth quarter with a projection of 4.40% for 2026 as of mid-September 2025 and as of mid-December with a projection of 4.20% for 2027.
 
Ø
  
Greater risk of loss in the office portfolio due to continued hybrid and remote work that may be exacerbated by future economic conditions.
 
Ø
  
Reversion to historical loss data occurs via a straight-line method during the year following the one-year reasonable and supportable forecast period.
A progression of the allowance for loan losses, by portfolio segment, for the periods indicated is summarized as follows:

Allowance for Loan and Lease Losses and Carrying Amount of Loans and Leases
For the Year Ended December 31, 2025
 
 
  
Commercial Real

Estate
 
 
Other
Commercial
 
 
Residential
Real
Estate
 
 
Construction
& Land
Development
 
 
Bankcard
 
 
Other
Consumer
 
 
Total
 
(In thousands)
  
Owner-

occupied
 
 
Nonowner-
occupied
 
Allowance for Loan and Lease Losses:
  
 
 
 
 
 
 
Beginning balance
   $ 11,852     $ 74,522     $ 65,105     $ 46,373     $ 63,621     $ 891     $ 9,480     $ 271,844  
Initial allowance for PCD loans (acquired during the period)
     795       11,059       872       208       4,584       0       0       17,518  
Charge-offs
     (228 )      (35,798 )      (5,424 )      (999 )      (408 )      (320 )      (7,735 )      (50,912 ) 
Recoveries
     318       160       2,309       704       225       55       1,429       5,200  
Provision
     827       46,773       (1,133 )     7,663       (10,055 )     263       9,530       53,868  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Ending balance
   $ 13,564     $ 96,716     $ 61,729     $ 53,949     $ 57,967     $ 889     $ 12,704     $ 297,518  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Allowance for Loan and Lease Losses and Carrying Amount of Loans and Leases
For the Year Ended December 31, 2024
 
(In thousands)
  
Commercial Real
Estate
 
 
Other
Commercial
 
 
Residential
Real
Estate
 
 
Construction
& Land
Development
 
 
Bankcard
 
 
Other
Consumer
 
 
Total
 
  
Owner-
occupied
 
 
Nonowner-
occupied
 
Allowance for Loan and Lease Losses:
  
 
 
 
 
 
 
Beginning balance
   $ 11,895     $ 57,935     $ 75,007     $ 41,167     $ 59,913     $ 810     $ 12,510     $ 259,237  
Charge-offs
     (116 )      (2,581 )      (3,589 )      (481 )      (29 )      (431 )      (10,303 )      (17,530 ) 
Recoveries
     1,183       200       1,650       495       319       19       1,119       4,985  
Provision
     (1,110 )     18,968       (7,963 )     5,192       3,418       493       6,154       25,152  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Ending balance
   $ 11,852     $ 74,522     $ 65,105     $ 46,373     $ 63,621     $ 891     $ 9,480     $ 271,844  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
A progression of the allowance for credit losses, which includes the allowance for loan losses and the reserve for lending-related commitments, for the periods presented is summarized as follows:
 
    
Year Ended December 31
  
(In thousands)
   
2025
     
2024
     
2023
  
Balance of allowance for loan and lease losses at beginning of period
    $ 271,844      $ 259,237      $ 234,746  
Initial allowance for acquired PCD loans
      17,518        0        0  
Gross charge-offs
      (50,912 )       (17,530 )       (11,304 ) 
Recoveries
      5,200        4,985        4,641  
  
 
 
     
 
 
     
 
 
  
Net charge-offs
      (45,712 )       (12,545 )       (6,663 ) 
Provision for loan and lease losses
      53,868        25,152        31,154  
  
 
 
     
 
 
     
 
 
  
Balance of allowance for loan and lease losses at end of period
    $ 297,518      $ 271,844      $ 259,237  
Reserve for lending-related commitments
      35,075        34,911        44,706  
  
 
 
     
 
 
     
 
 
  
Balance of allowance for credit losses at end of period
    $ 332,593      $ 306,755      $ 303,943  
  
 
 
     
 
 
     
 
 
  
v3.25.4
Bank Premises and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Bank Premises and Equipment
NOTE G—BANK PREMISES AND EQUIPMENT
Bank premises and equipment are summarized as follows:
 
    
December 31
  
(In thousands)
   
2025
     
2024
  
Land
    $ 69,573      $ 62,506  
Buildings and improvements
      234,963        206,281  
Leasehold improvements
      45,727        43,971  
Furniture, fixtures and equipment
      123,063        109,510  
  
 
 
     
 
 
  
     473,326        422,268  
Less allowance for depreciation and amortization
      (264,495 )       (236,137 ) 
  
 
 
     
 
 
  
Bank premises and equipment
    $ 208,831      $ 186,131  
  
 
 
     
 
 
  
Depreciation expense was $16,813,000, $15,709,000, and $17,191,000 for years ending December 31, 2025, 2024 and 2023, respectively, while amortization expense was $328,000, $310,000 and $310,000 for the years ended December 31, 2025, 2024 and 2023, respectively.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
NOTE H—LEASES
United determines if an arrangement is a lease at inception. United and certain subsidiaries have entered into various noncancelable-operating leases for branch and loan production offices as well as operating facilities. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the Consolidated Balance Sheets. Operating leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. Presently, United does not have any finance leases.
United’s operating leases are subject to renewal options under various terms. United’s operating leases have remaining terms of 1 to 15 years, some of which include options to extend leases generally for periods of 5 years. United rents or subleases certain real estate to third parties. Our sublease portfolio generally consists of operating leases to other organizations for former branch offices.
ROU assets represent United’s right to use an underlying asset for the lease term and lease liabilities represent United’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of United’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease terms may include options to extend the lease when it is reasonably certain that United will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
 
The components of lease expense were as follows:

 
  
 
  
Year Ended
 
  
Year Ended
 
(In thousands)
  
Classification
  
December 31,
2025
 
  
December 31,
2024
 
Operating lease cost
    Net occupancy expense    $ 20,061      $ 20,367  
Sublease income
    Net occupancy expense      (213 )       (184 ) 
     
 
 
     
 
 
  
Net lease cost
       $ 19,848      $ 20,183  
     
 
 
     
 
 
  
Supplemental balance sheet information related to leases was as follows:

(In thousands)
  
Classification
  
December 31,
2025
 
  
December 31,
2024
 
Operating lease right-of-use assets
   
Operating lease right-of-use assets
    $ 89,312     $ 81,742  
Operating lease liabilities
    Operating lease liabilities    $
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 95,392     $ 86,771  
Other information related to leases was as follows:
 
 
  
December 31,
2025
 
Weighted-average remaining lease term:
  
Operating leases
      7.59 years  
Weighted-average discount rate:
   
Operating leases
      3.62 % 
Supplemental cash flow information related to leases was as follows:
 
    
Year Ended
  
(In thousands)
   
December 31, 2025
     
December 31, 2024
  
Cash paid for amounts in the measurement of lease liabilities:
      
Operating cash flows from operating leases
    $ 19,739      $ 19,900  
ROU assets obtained in the exchange for lease liabilities
      18,673        8,896  
Maturities of lease liabilities by year and in the aggregate, under operating leases with initial or remaining terms of one year or more, for years subsequent to December 31, 2025, consists of the following:
 
Year
   
Amount
  
(Dollars in thousands)
  
2026
    $ 18,633  
2027
      17,451  
2028
      15,279  
2029
      13,147  
2030
      10,861  
Thereafter
      34,981  
  
 
 
  
Total lease payments
      110,352  
Less: imputed interest
      (14,960 ) 
  
 
 
  
Total
    $ 95,392  
  
 
 
  
v3.25.4
Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
NOTE I—INTANGIBLE ASSETS
The following is a summary of intangible assets subject to amortization and those not subject to amortization:
 
 
 
December 31, 2025
 
 
 
Community Banking
 
 
Total
 
(In thousands)
 
Gross
Carrying
Amount
 
 
Accumulated
Amortization
 
 
Gross
Carrying
Amount
 
 
Accumulated
Amortization
 
Amortized intangible assets:
 
 
 
 
Core deposit intangible assets
    $ 137,929      ($ 105,662 )    $ 137,929      ($ 105,662 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Goodwill not subject to
 
amortization
    $ 2,018,848        $ 2,018,848     
  
 
 
       
 
 
     
 
 
  
December 31, 2024
 
 
  
Community Banking
 
 
Total
 
(In thousands)
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
Amortized intangible assets:
  
  
 
  
Core deposit intangible assets
    $ 105,165      ($ 96,299 )    $ 105,165      ($ 96,299 ) 
  
 
 
     
 
 
    
 
 
     
Goodwill not subject to
 
amortization
    $ 1,888,889        $ 1,888,889     
  
 
 
       
 
 
     
The following table provides a reconciliation of goodwill:
 
(In thousands)
  
Community
Banking
 
  
Total
 
Goodwill at December 31, 2024
    $ 1,888,889      $ 1,888,889  
Addition to goodwill from Piedmont acquisition
      129,959        129,959  
  
 
 
     
 
 
  
Goodwill at December 31, 2025
    $ 2,018,848      $ 2,018,848  
  
 
 
     
 
 
  
The following table sets forth the anticipated amortization expense for intangible assets for the years subsequent to 2025:
 
Year
   
Amount
  
(Dollars in thousands)
   
2026
    $ 7,351  
2027
      5,060  
2028
      4,003  
2029
      3,518  
2030
      3,086  
2031 and thereafter
      9,249  
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Deposits
NOTE J—DEPOSITS
The book value of deposits consisted of the following:
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Noninterest-bearing accounts
    $ 6,573,630      $ 6,135,413  
Interest-bearing transaction accounts
      6,657,771        5,936,925  
Regular savings
      1,265,334        1,250,295  
Interest-bearing money market accounts
      7,835,796        7,056,897  
Time deposits under $100,000
      1,363,881        1,172,462  
Time deposits over $100,000
      3,364,527        2,409,867  
  
 
 
     
 
 
  
Total deposits
    $ 27,060,939      $ 23,961,859  
  
 
 
     
 
 
  
Included in time deposits over $100,000 at December 31, 2025 and 2024 were time deposits of $250,000 or more of $1,724,739,000 and $1,115,748,000, respectively. Interest paid on deposits approximated $552,108,000, $537,661,000, and $377,008,000 in 2025, 2024 and 2023, respectively.
United’s subsidiary banks have received deposits, in the normal course of business, from the directors and officers of United and its subsidiaries, and their associates. Such related party deposits were accepted on substantially the same terms, including interest rates and maturities, as those prevailing at the time for comparable transactions with unrelated persons. The aggregate dollar amount of these deposits was $32,822,000 and $34,197,000 at December 31, 2025 and 2024, respectively.
 
v3.25.4
Short-Term Borrowings
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Short-Term Borrowings
NOTE K—SHORT-TERM BORROWINGS
At December 31, 2025 and 2024, short-term borrowings were as follows:
 
 
 
 
 
 
 
 
 
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Federal funds purchased
    $ 0      $ 0  
Securities sold under agreements to repurchase
      198,573        176,090  
  
 
 
     
 
 
  
Total short-term borrowings
    $ 198,573      $ 176,090  
  
 
 
     
 
 
  
Federal funds purchased and securities sold under agreements to repurchase have not been a significant source of funds for the company. United has various unused lines of credit available from certain of its correspondent banks in the aggregate amount of $280,000,000. These lines of credit, which bear interest at prevailing market rates, permit United to borrow funds in the overnight market, and are renewable annually subject to certain conditions.
At December 31, 2025, all the repurchase agreements were in overnight accounts. The rates offered on these funds vary according to movements in the federal funds and
short-term
investment market rates.
United has a $20,000,000 line of credit with an unrelated financial institution to provide for general liquidity needs. The line is an unsecured, revolving line of credit. The line is renewable on a 360 day basis and carries an indexed, floating-rate of interest. The line requires compliance with various financial and nonfinancial covenants. At December 31, 2025, United had no outstanding balance under this credit.
Interest paid on short-term borrowings approximated $5,786,000, $8,063,000, and $6,390,000 in 2025, 2024 and 2023, respectively.
v3.25.4
Long-Term Borrowings
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Long-Term Borrowings
NOTE L—LONG-TERM BORROWINGS
United’s subsidiary bank is a member of the Federal Home Loan Bank (“FHLB”). Membership in the FHLB makes available short-term and long-term borrowings from collateralized advances. All FHLB borrowings are collateralized by a mix of single-family residential mortgage loans, commercial loans and investment securities. At December 31, 2025, the total carrying value of loans pledged as collateral for FHLB advances approximated $8,163,013,000. United had an unused borrowing amount as of December 31, 2025 of approximately $9,192,225,000 available subject to delivery of collateral after certain trigger points.
Advances may be called by the FHLB or redeemed by United based on predefined factors and penalties.
At December 31, 2025 and 2024, FHLB advances and the related weighted-average interest rates were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
2025
 
 
2024
 
(Dollars in thousands)
  
 Amount 
 
  
Weighted-
Average
Contractual
Rate
 
 
Weighted-
Average
Effective
Rate
 
 
 Amount 
 
  
Weighted-
Average
Contractual
Rate
 
 
Weighted-
Average
Effective
Rate
 
FHLB advances
    $ 250,000        4.05 %      0.59 %    $ 260,199        4.62 %      0.63 % 
No overnight funds were included in the $250,000,000 and $260,199,000 above at December 31, 2025 and 2024, respectively. At December 31, 2025, FHLB advances of $250,000,000 mature in 2026. The weighted-average effective rate considers the effect of any interest rate swaps designated as cash flow hedges outstanding at year-end 2025 and 2024 to manage interest rate risk on its long-term debt. Additional information is provided in Note R, Notes to Consolidated Financial Statements.
At December 31, 2025, United had a total of twenty statutory business trusts that were formed for the purpose of issuing or participating in pools of trust preferred capital securities (“Capital Securities”) with the proceeds invested in junior subordinated debt securities (“Debentures”) of United. The Debentures, which are subordinate and junior in right of payment to all present and future senior indebtedness and certain other financial obligations of United, are the sole assets of the trusts and United’s payment under the Debentures is the sole source of revenue for the trusts. At December 31, 2025 and 2024, the outstanding balance of the Debentures was $281,817,000 and $280,221,000, respectively, and was included the category of long-term debt on the Consolidated Balance Sheets entitled “Other long-term borrowings.” The
 
Capital Securities are not included as a component of shareholders’ equity in the Consolidated Balance Sheets. United fully and unconditionally guarantees each individual trust’s obligations under the Capital Securities. Under the provisions of the subordinated debt, United has the right to defer payment of interest on the subordinated debt at any time, or from time to time, for periods not exceeding five years. If interest payments on the subordinated debt are deferred, the dividends on the Capital Securities are also deferred. Interest on the subordinated debt is cumulative.
In accordance with the fully-phased in “Basel III Capital Rules” as published by United’s primary federal regulator, the Federal Reserve, United is unable to consider the Capital Securities as Tier 1 capital, but rather the Capital Securities are included as a component of United’s Tier 2 capital. United can include the Capital Securities in its Tier 2 capital on a permanent basis.
Information related to United’s statutory trusts is presented in the table below:
 
(Dollars in thousands)
Description
   
Issuance Date
   
Amount of
Capital
Securities
Issued
    
Stated Interest Rate
(1)
   
Maturity Date
United Statutory Trust III
    December 17, 2003    $ 20,000     3-month CME Term SOFR + 2.85%    December 17, 2033
United Statutory Trust IV
    December 19, 2003    $ 25,000     3-month CME Term SOFR + 2.85%    January 23, 2034
United Statutory Trust V
    July 12, 2007    $ 50,000     3-month CME Term SOFR + 1.55%    October 1, 2037
United Statutory Trust VI
    September 20, 2007    $ 30,000     3-month CME Term SOFR + 1.30%    December 15, 2037
Premier Statutory Trust II
    September 25, 2003    $ 6,000     3-month CME Term SOFR + 3.10%    October 8, 2033
Premier Statutory Trust III
    May 16, 2005    $ 8,000     3-month CME Term SOFR + 1.74%    June 15, 2035
Premier Statutory Trust IV
    June 20, 2006    $ 14,000     3-month CME Term SOFR + 1.55%    September 23, 2036
Premier Statutory Trust V
    December 14, 2006    $ 10,000     3-month CME Term SOFR + 1.61%    March 1, 2037
Centra Statutory Trust I
    September 20, 2004    $ 10,000     3-month CME Term SOFR + 2.29%    September 20, 2034
Centra Statutory Trust II
    June 15, 2006    $ 10,000     3-month CME Term SOFR + 1.65%    July 7, 2036
VCBI Capital Trust II
    December 19, 2002    $ 15,000     6-month CME Term SOFR + 3.30%    December 19, 2032
VCBI Capital Trust III
    December 20, 2005    $ 25,000     3-month CME Term SOFR + 1.42%    February 23, 2036
Cardinal Statutory Trust I
    July 27, 2004    $ 20,000     3-month CME Term SOFR + 2.40%    September 15, 2034
UFBC Capital Trust I
    December 30, 2004    $ 5,000     3-month CME Term SOFR + 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 CME Term SOFR + 3.05%    January 7, 2034
Greer Capital Trust I
    October 12, 2004    $ 6,000     3-month CME Term SOFR + 2.20%    October 18, 2034
Greer Capital Trust II
    December 28, 2006    $ 5,000     3-month CME Term SOFR + 1.73%    January 30, 2037
First South Preferred Trust I
    September 26, 2003    $ 10,000     3-month CME Term SOFR + 2.95%    September 30, 2033
BOE Statutory Trust I
    December 12, 2003    $ 4,000     3-month CME Term SOFR + 3.00%    December 12, 2033
 
  (1)
The 3-month CME Term SOFR rates have a spread adjustment of 0.26161% and the 6-month CME Term SOFR rate has a spread adjustment of 0.42826%.
At December 31, 2025 and 2024, the Debentures and their related weighted-average interest rates were as follows:
 
    
2025
    
2024
  
(Dollars in thousands)
   
Amount
     
Weighted-
Average
Rate
    
Amount
     
Weighted-
Average
Rate
  
United Statutory Trust III
     $ 20,619        6.82 %     $  20,619        7.46 % 
United Statutory Trust IV
      25,774        6.95 %      25,774        7.70 % 
United Statutory Trust V
      51,547        5.80 %      51,547        6.40 % 
United Statutory Trust VI
      30,928        5.28 %      30,928        5.92 % 
Premier Statutory Trust II
      6,186        7.27 %      6,186        8.02 % 
Premier Statutory Trust III
      8,248        5.72 %      8,248        6.95 % 
Premier Statutory Trust IV
      14,433        5.50 %      14,433        6.15 % 
Premier Statutory Trust V
      10,310        5.66 %      10,310        6.37 % 
Centra Statutory Trust I
      10,000        6.25 %      10,000        6.91 % 
Centra Statutory Trust II
      10,000        5.82 %      10,000        6.57 % 
Virginia Commerce Trust II
      13,857        7.34 %      13,627        8.31 % 
Virginia Commerce Trust III
      20,425        5.56 %      19,899        6.20 % 
Cardinal Statutory Trust I
      17,209        6.38 %      16,812        7.02 % 
UFBC Capital Trust I
      4,182        6.08 %      4,076        6.72 % 
Carolina Financial Capital Trust I
      5,058        7.25 %      5,046        8.00 % 
Carolina Financial Capital Trust II
      9,706        7.22 %      9,641        7.97 % 
Greer Capital Trust I
      5,492        6.35 %      5,419        7.09 % 
Greer Capital Trust II
      4,360        5.83 %      4,275        6.58 % 
First South Preferred Trust I
      9,656        6.90 %      9,587        7.54 % 
BOE Statutory Trust I
      3,827        6.93 %      3,794        7.59 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Total
    $ 281,817        6.19 %    $ 280,221        6.88 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
 
At December 31, 2025, the scheduled maturities of long-term borrowings were as follows:
 
Year
   
Amount
  
(Dollars in thousands)
  
2026
     $ 250,000  
2027
      0  
2028
      0  
2029
      0  
2030
      0  
2031 and thereafter
      281,817  
  
 
 
  
Total
    $  531,817  
  
 
 
  
Interest paid on long-term borrowings approximated $23,726,000, $44,911,000, and $84,775,000 in 2025, 2024 and 2023, respectively.
v3.25.4
Other Expense
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other Expense
NOTE M—OTHER EXPENSE
The following details certain items of other expense for the periods indicated:
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
  
2024
 
  
2023
 
Legal, consulting & other professional services
    $  29,444      $  24,330      $  25,604  
Franchise & other taxes not on income
      18,345        16,916        16,202  
Expense for reserve on lending-related commitments
      164        (9,795 )       (1,483 ) 
Automated Teller Machine (“ATM”) expenses
      13,485        11,885        10,914  
Amortization of income tax credits
      17,886        15,277        15,238  
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
NOTE N—INCOME TAXES
The income tax provisions included in the consolidated statements of income are summarized as follows:
 
    
Year Ended December 31
  
(In thousands)
   
2025
     
2024
     
2023
  
Current expense:
         
Federal
    $ 85,133      $ 77,347      $ 84,441  
State and local
      17,019        17,604        15,972  
  
 
 
     
 
 
     
 
 
  
Total current income tax expense
      102,152        94,951        100,413  
Deferred expense (benefit):
         
Federal
      11,764        334        (2,053 ) 
State and local
      4,881        (3,702 )       (868 ) 
  
 
 
     
 
 
     
 
 
  
Total deferred income tax expense (benefit)
      16,645        (3,368 )       (2,921 ) 
  
 
 
     
 
 
     
 
 
  
Total income tax expense:
    $ 118,797      $ 91,583      $ 97,492  
  
 
 
     
 
 
     
 
 
  
 
The following is a reconciliation of income tax expense to the amount computed by applying the statutory federal income tax rate to income before income taxes:
 
 
  
Year Ended December 31
 
(Dollars in thousands)
  
2025
 
 
2024
 
 
2023
 
 
  
Amount
 
 
%
 
 
Amount
 
 
%
 
 
Amount
 
 
%
 
Tax on income before taxes at statutory federal rate
     $  122,514       21.0 %     $  97,562       21.0 %     $  97,399       21.0 % 
State and local income taxes net of federal tax benefits
(1)
      17,137       2.9       13,591       2.9       11,847       2.6  
Domestic Federal
             
Tax Credits
             
Low income housing
      (19,030 )      (3.3 )      (15,814 )      (3.4 )      (13,557 )      (2.9 ) 
Other
      (1,303 )      (0.2 )      (706 )      (0.1 )      (1,639 )     (0.4 ) 
Nontaxable and nondeductible items
      (2,301 )      (0.4 )      (2,439 )      (0.5 )      (2,974 )      (0.6 ) 
Other
      1,780       0.4       (611 )      (0.2 )      6,416       1.3  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total income tax expense
     $ 118,797       20.4 %     $ 91,583       19.7 %     $ 97,492       21.0 % 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(1)
State taxes in West Virginia and Maryland made up the majority (greater than 50 percent) of the tax effect in this category.
For the year of 2025, United had no taxes applicable to sales and calls of securities. For years ended 2024 and 2023, United incurred a federal income tax benefit of $2,456,000 and $1,608,000, respectively, applicable to the sales and calls of securities.
The following presents a disaggregation of income taxes paid, net of refunds:
 
 
  
Year Ended December 31
 
(Dollars in thousands)
  
2025
 
 
2024
 
 
2023
 
Federal
    $ 89,800     $ 70,407     $ 89,500  
State and local
      24,663
(1)
 		     15,814
(2)
 		     15,960
(3)
 
  
 
 
    
 
 
    
 
 
  
Total income taxes paid, net of refunds
(4)
    $ 114,463     $ 86,221     $ 105,460  
  
 
 
    
 
 
    
 
 
  

(1)
For the year ended December 31, 2025, income taxes paid to West Virginia of $9,000 and Maryland of $5,950 exceeded 5% of total income taxes paid.
(2)
For the year ended December 31, 2024, income taxes paid to Maryland of $6,150 exceeded 5% of total income taxes paid.
(3)
For the year ended December 31, 2023, income taxes paid to West Virginia of $6,851 exceeded 5% of total income taxes paid.
(4)
Income taxes paid, net of refunds includes amounts paid to third parties for purchases of transferable tax credits of $11,680 in 2025 and $1,636 in 2024.
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. At December 31, 2025, United had a federal net operating loss carryforward of $2,724,000, the majority of which
has an indefinite life
, and a state tax credit of $1,406,000 which expires in 2034. Significant components of United’s deferred tax assets and liabilities (included in other assets in the Consolidated Balance Sheets) at December 31, 2025 and 2024 are as follows:
 
(In thousands)
  
2025
 
  
2024
 
Deferred tax assets:
      
Allowance for credit losses
    $ 79,490      $ 73,315  
Accrued benefits payable
      16,514        20,256  
Other accrued liabilities
      603        1,857  
Unrealized loss on securities available for sale
      49,091        77,189  
Other real estate owned
      122        127  
Lease liabilities under operating leases
      22,799        20,738  
 
(In thousands)
  
2025
 
  
2024
 
Net operating loss carryforwards
      2,724        0  
Purchase accounting intangibles
      1,159        0  
Income tax credit carryforward
      1,406        4,415  
Deferred mortgage points
      1,465        425  
  
 
 
     
 
 
  
Total deferred tax assets
      175,373        198,322  
  
 
 
     
 
 
  
Deferred tax liabilities:
      
Premises and equipment
      8,937        8,307  
Right-of-use assets under operating leases
      21,345        19,536  
Pension plan accruals
      13,050        10,743  
Derivatives
      7,367        10,487  
Purchase accounting intangibles
      0        6,626  
Other
      1,584        1,063  
  
 
 
     
 
 
  
Total deferred tax liabilities
      52,283        56,762  
  
 
 
     
 
 
  
Net deferred tax assets
    $ 123,090      $ 141,560  
  
 
 
     
 
 
  
At December 31, 2025 and 2024, United believes that all of the deferred tax amounts shown above are more likely than not to be realized based on an assessment of all available positive and negative evidence and therefore no valuation allowance has been recorded.
In accordance with ASC Topic 740, “Income Taxes,” United records a liability for uncertain income tax positions based on a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken on a tax return, in order for those tax positions to be recognized in the financial statements.
Below is a reconciliation of the total amounts of unrecognized tax benefits:
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Unrecognized tax benefits at beginning of year
     $ 2,144       $ 2,599  
Increase in unrecognized tax benefits as a result of tax positions taken during the current period
      956        323  
Decreases in the unrecognized tax benefits as a result of a lapse of the applicable statute of limitations
      (2,144 )       (778 ) 
  
 
 
     
 
 
  
Unrecognized tax benefits at end of year
     $ 956       $ 2,144  
  
 
 
     
 
 
  
The entire amount of unrecognized tax benefits, if recognized, would impact United’s effective tax rate.
United is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2022, 2023 and 2024 and certain State Taxing authorities for the years ended December 31, 2022 through 2024.
As of December 31, 2025, and 2024, the total amount of accrued interest related to uncertain tax positions was zero and $651,000, respectively. United accounts for interest and penalties related to uncertain tax positions as part of its provision for federal and state income taxes. No interest or penalties were recognized in the results of operations for the years of 2025, 2024 and 2023.
v3.25.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans
NOTE O—EMPLOYEE BENEFIT PLANS
United has a defined benefit retirement plan covering qualified employees. Pension benefits are based on years of service and the average of the employee’s highest five consecutive plan years of basic compensation paid during the ten plan years preceding the date of determination. Contributions by United are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.
In September of 2007, after a recommendation by United’s Pension Committee and approval by United’s Board of Directors, the United Bankshares, Inc. Pension Plan (the “Plan”) was amended to change the participation rules. The decision to change the participation rules for the Plan followed industry trends, as many large and medium size companies took similar steps. The amendment provided that employees hired on or after October 1, 2007, will not be eligible to participate in the Plan. However, new employees will continue to be eligible to participate in United’s Savings and Stock Investment 401(k) plan. This change had no impact on employees hired prior to October 1, 2007 as they will continue to participate in the Plan, with no change in benefit provisions, and will continue to be eligible to participate in United’s Savings and Stock Investment 401(k) Plan.
 
Net periodic pension costs, except for service cost, are recognized in employee benefits on the consolidated statements of income. Service cost is recognized in employee compensation. Net consolidated periodic pension cost included the following components:
 
(Dollars in thousands)
  
Year Ended December 31,
 
 
  
2025
 
 
2024
 
 
2023
 
Service cost
     $ 1,293      $ 1,387     $ 1,440  
Interest cost
      7,427       6,967       7,134  
Expected return on plan assets
      (11,046 )      (10,659 )      (11,762 ) 
Amortization of net actuarial loss
      69       2,315       3,347  
  
 
 
    
 
 
    
 
 
  
Net periodic pension cost (income)
     $ (2,257 )     $ 10     $ 159  
  
 
 
    
 
 
    
 
 
  
Weighted-Average Assumptions:
       
Discount rate
      5.76 %      5.07 %      5.26 % 
Expected return on assets
      6.15 %      6.25 %      7.25 % 
Rate of compensation increase (prior to age 40)
      6.00 %      5.00 %      5.00 % 
Rate if compensation increase (ages 40-49)
      5.50 %     
n/a
       n/a  
Rate of compensation increase (ages 40-54)
      n/a       4.00 %      4.00 % 
Rate if compensation increase (ages 50-54)
      5.00 %      n/a       n/a  
Rate of compensation increase (ages 55-64)
      4.00 %      n/a       n/a  
Rate of compensation increase (otherwise)
      3.00 %      3.50 %      3.50 % 
Amounts related to the Plan recognized as a component of other comprehensive income were as follows:
 
(In thousands)
  
Year Ended December 31,
 
 
  
 2025 
 
  
 2024 
 
  
 2023 
 
Net actuarial gain
     $ (7,089 )      $ (12,348 )      $ (2,635 ) 
Amortization of actuarial loss
      (69 )       (2,315 )       (3,347 ) 
  
 
 
     
 
 
     
 
 
  
Total recognized in other comprehensive income
     $ (7,158 )      $ (14,663 )      $ (5,982 ) 
  
 
 
     
 
 
     
 
 
  
Included in accumulated other comprehensive income at December 31, 2025 are unrecognized actuarial losses of $10,725,000 that have not yet been recognized in net periodic pension cost.
The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2025 and 2024 and the accumulated benefit obligation at December 31, 2025 and 2024 are as follows:
 
(Dollars in thousands)
  
December 31,
 
 
  
 2025 
 
  
 2024 
 
Change in Projected Benefit Obligation
  
  
Projected Benefit Obligation at the Beginning of the Year
    $   137,847       $   143,306  
Service Cost
      1,293        1,387  
Interest Cost
      7,427        6,967  
Actuarial Loss (Gain)
      3,088        (7,506 ) 
Benefits Paid
      (6,877 )       (6,307 ) 
  
 
 
     
 
 
  
Projected Benefit Obligation at the End of the Year
     $ 142,778       $ 137,847  
Accumulated Benefit Obligation at the End of the Year
     $ 130,900       $ 125,429  
Change in Plan Assets
      
Fair Value of Plan Assets at the Beginning of the Year
     $ 183,035       $ 173,840  
Actual Return on Plan Assets
      21,223        15,502  
Benefits Paid
      (6,877 )       (6,307 ) 
  
 
 
     
 
 
  
Fair Value of Plan Assets at End of Year
     $ 197,381       $ 183,035  
  
 
 
     
 
 
  
 
(Dollars in thousands)
  
December 31,
 
 
  
2025
 
 
2024
 
Net Amount Recognized
  
 
Funded Status
    $ 54,603     $ 45,187  
Unrecognized Actuarial Net Loss
      10,725       17,884  
  
 
 
    
 
 
  
Net Amount Recognized
    $ 65,328     $ 63,071  
  
 
 
    
 
 
  
Weighted-Average Assumptions at the End of the Year
     
Discount Rate
      5.66 %      5.76 % 
Rate of compensation Increase (prior to age 40)
      6.00 %      6.00 % 
Rate of compensation Increase (ages 40-49)
      5.50 %      5.50 % 
Rate of compensation Increase (ages 50-54)
      5.00 %      5.00 % 
Rate of compensation Increase (ages 55-64)
      4.00 %      4.00 % 
Rate of compensation Increase (otherwise)
      3.00 %      3.00 % 
Asset allocation for the defined benefit pension plan as of the measurement date, by asset category, is as follows:
 
Plan Assets
  
Target Allocation
2026
 
 
Allowable
Allocation Range
 
 
Percentage of
Plan Assets at
 
 
  
 
 
 
 
 
 
December 31,
2025
 
  
December 31,
2024
 
Equity Securities
      47 %     
20-70
 %      54%        56%  
Fixed Income Securities
      43 %     
20-50
 %      42%        41%  
Other
      10 %     
0-25
 %      4%        3%  
      
 
 
     
 
 
  
Total
          100%        100%  
      
 
 
     
 
 
  
Equity securities include United common stock in the amounts of $4,064,000 at December 31, 2025 and $3,974,000 at December 31, 2024
.
The policy, as established by the United’s Retirement Committee (formerly known as United’s Pension Committee), primarily consisting of United’s Executive Management, is to invest assets based upon the target allocations stated above. The assets are reallocated periodically to meet the above target allocations. The investment policy is reviewed at least annually, subject to the approval of the Pension Committee, to determine if the policy should be changed. Prohibited investments include, but are not limited to, futures contracts, private placements, uncovered options, real estate, the use of margin, short sales, derivatives for speculative purposes, and other investments that are speculative in nature. In order to achieve a prudent level of portfolio diversification, the securities of any one company are not to exceed 
10% of the total plan assets, and no more than the 15% of total plan assets is to be invested in any one industry (other than securities of U.S. Government or Agencies). Additionally, no more than 15% of the plan assets is to be invested in foreign securities, both equity and fixed. The expected long-term rate of return for the plan’s total assets is based on the expected return of each of the above categories, weighted based on the median of the target allocation for each class. United uses the corridor approach based on 10% of the greater of the projected benefit obligation and the market-related value of plan assets to amortize actuarial gains and losses.
At December 31, 2025, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows:

Year
  
 Amount 
 
(Dollars in thousands)
 
2026
    $ 7,433  
2027
      7,786  
2028
      8,265  
2029
      8,648  
2030
      9,000  
2031 through 2035
      48,551  
United did not contribute to the plan in 2025, 2024 or in 2023 as no contributions were required by funding regulations or law. For 2026, no contributions to the plan are required by funding regulations or law. However, United may make a discretionary contribution in 2026, the amount of which cannot be reasonably estimated at this time.
In accordance with ASC Topic 715 and using the guidance contained in ASC Topic 820, the following is a description of the valuation methodologies used to measure the plan assets at fair value.
Cash and Cash Equivalents:
These underlying assets are highly liquid U.S. government obligations. The fair value of cash and cash equivalents approximates cost (Level 1 or 2).
Debt Securities
: Securities of the U.S. Government, municipalities, private issuers and corporations are valued at the closing price reported in the active market in which the individual security is traded, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Using a market approach valuation methodology, third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that considers observable market data (Level 2).
Common and Preferred Stock:
These securities are valued at the closing price on the respective stock exchange (Level 1).
Mutual Funds:
Generally, these securities are valued at the closing price reported in the active market in which the individual mutual fund is traded (Level 1).
The following tables present the balances of the plan assets, by fair value hierarchy level, as of December 31, 2025 and 2024:

 
  
 
 
  
Fair Value Measurements at December 31, 2025 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2025
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Cash and Cash equivalents
     $ 6,505       $ 0       $ 6,505       $ 0  
Fixed Income Debt Securities:
            
U.S. Government and agencies
      29,982        0        29,982        0  
Mortgage backed & other asset-backed
securities
      7,705        0        7,705        0  
Municipal obligations
      631        0        631        0  
Corporate bonds
      9,300        0        9,300        0  
Fixed Income Mutual Funds & Exchange-Traded Funds:
            
General
      36,667        36,667        0        0  
Equity Securities:
            
Common stock
      20,187        20,187        0        0  
Equity Mutual Funds:
            
Domestic equity large cap
      38,185        38,185        0        0  
Domestic equity small cap
      13,273        13,273        0        0  
Alternative equity
      17,500        17,500        
International emerging equity
      4,304        4,304        0        0  
International equity developed
      13,142        13,142        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $   197,381      $   143,258      $ 54,123      $   0  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
 
 
  
Fair Value Measurements at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Cash and Cash equivalents
     $ 5,829       $ 5,829       $ 0       $ 0  
Fixed Income Debt Securities:
            
U.S. Government and agencies
      24,874        24,874        0        0  
Mortgage backed securities
      6,588        6,588        0        0  
Collateralized mortgage obligations
      623        623      0    0
 
  
 
 
  
Fair Value Measurements at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Municipal obligations
      707        707        0        0  
Corporate bonds
      8,394        8,394        0        0  
Fixed Income Mutual Funds:
                                    
General
      33,537        33,537        0        0  
Equity Securities:
            
Common stock
      19,539        19,539        0        0  
Equity Mutual Funds:
            
Domestic equity large cap
      37,990        37,990        0        0  
Domestic equity small cap
      13,332        13,332        0        0  
Alternative equity
      16,145        16,145        
International emerging equity
      3,993        3,993        0        0  
International equity developed
      11,484        11,484        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
     $ 183,035       $   183,035       $   0       $   0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Common stock investments are diversified amongst various industries with no industry representing more than 5% of the total plan assets.
The United Bankshares, Inc. Savings and Stock Investment Plan (the Plan) is a defined contribution plan under Section 401(k) of the Internal Revenue Code. Each employee of United, who completes ninety (90) days of qualified service, is eligible to participate in the Plan. Each participant may contribute from 1% to 100% of compensation to his/her account, subject to Internal Revenue Service maximum deferral limits. United matches 100% of the first 5% of salary deferred with United stock, subject to certain imposed limitations. Vesting is 100% for employee deferrals and the company match at the time the employee makes his/her deferral. United’s expense relating to the Plan approximated $7,829,000, $7,332,000, and $7,590,000 in 2025, 2024 and 2023, respectively.
The assets of United’s defined benefit plan and 401(k) Plan each include investments in United common stock. At December 31, 2025 and 2024, the combined plan assets included 1,879,671 and 1,810,400 shares, respectively, of United common stock with an approximate fair value of $72,179,000 and $67,981,000, respectively. Dividends paid on United common stock held by the plans approximated $2,755,000, $2,727,000, and $2,468,000 for the years ended December 31, 2025, 2024, and 2023, respectively.
United has certain other supplemental deferred compensation plans covering various key employees. Periodic charges are made to operations so that the liability due each employee is fully recorded as of the date of their retirement. Amounts charged to expense have not been significant in any year.
v3.25.4
Stock Based Compensation
 12 Months Ended
Dec. 31, 2025
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation
NOTE P—STOCK BASED COMPENSATION
On May 14, 2025, United’s shareholders approved the 2025 Equity Incentive Plan (“2025 EIP”), becoming effective on that date. The 2025 EIP replaced United’s 2020 Long-Term Incentive Plan (“2020 LTI Plan”). An award granted under the 2025 EIP may consist of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units, performance based stock awards, dividend equivalent rights and other equity-based or equity-related awards. These awards all relate to the common stock of United. The maximum number of shares of United common stock which may be issued under the 2025 EIP is 
3,000,000
. The 2025 EIP will be administered by the Compensation and Human Capital Committee of the Board (the “Committee”). Awards are subject to a minimum vesting schedule of at least twelve months following the date of grant of such award, subject to accelerated vesting on certain events, including a change in control, and 
5
% of the shares available for grant under the 2025 EIP may be granted with a shorter minimum vesting period. Awards under the 2025 EIP will be subject to the terms of the Company’s Compensation Recoupment Policy and any other clawback or recapture policy that the Company may adopt from time to time and, in accordance with such policy, may be subject to the requirement that the awards be repaid to the Company after they have been distributed to the grantee. A Form S-8 was filed on May 30, 2025 with the Securities and Exchange Commission to register all the shares available for issuance under the 2025 EIP Plan. 
 
During the year of 2025, a total of
184,515
shares of restricted stock and
256,385
of restricted stock units were granted under the 2020 LTI Plan.
No
non-qualified stock options were granted under the 2020 LTI Plan during the year of 2025. Compensation expense of $
13,089
,000, $
12,130
,000, and $
12,463
,000 related to all share-based grants and awards under United’s Long-Term Incentive Plans was incurred for the years 2025, 2024 and 2023, respectively. Compensation expense was included in employee compensation in the Consolidated Statements of Income.
Stock Options
As of December 31, 2025,
no
stock option awards have been granted under the 2025 EIP. United does have options outstanding from various plans under which stock options may be granted, including the 2020 LTI Plan (the “Prior Plans”); however, 
no
shares of United stock are available for grants under the Prior Plans as these plans have expired. Awards outstanding under the Prior Plans will remain in effect in accordance with their respective terms. The maximum term for options granted under the Prior Plans is ten (
10
) years.
A summary of activity under United’s stock option plans as of December 31, 2025, and the changes during the year of 2025 are presented below:
 
 
  
Year ended December 31, 2025
 
 
  
 
 
 
 
 
  
Weighted Average
 
(Dollars in thousands, except per share amounts)
  
 
 
 
Aggregate
Intrinsic
 
  
Remaining
Contractual
 
  
 
 
  
Exercise

Price
 
 
  
Shares
 
 
Value
 
  
Term (Yrs.)
 
Outstanding at January 1, 2025
      1,049,668           $ 36.29  
Exercised
      (36,612 )            26.07  
Forfeited or expired
      (103,540 )            35.62  
  
 
 
          
 
 
  
Outstanding at December 31, 2025
      909,516      $  3,057        2.6      $  36.78  
  
 
 
    
 
 
     
 
 
     
 
 
  
Exercisable at December 31, 2025
      909,516      $  3,057        2.6      $  36.78  
  
 
 
    
 
 
     
 
 
     
 
 
  
Cash received from options exercised under the Plans for the years ended December 31, 2025, 2024 and 2023 was $751,000, $5,274,000, and $1,750,000, respectively. During 2025 and 2024, 36,612 and 183,888
shares, respectively, were issued in connection with stock option exercises. All shares issued in connection with stock option exercises for 2025 and 2024 were issued from authorized and unissued common stock. The total intrinsic value of options exercised under the Prior Plans during the years ended December 31, 2025, 2024, and 2023 was $
453,000, $1,881,000, and $947,000, respectively.
As of December 31, 2025, there was no unrecognized compensation costs related to nonvested stock option awards.
ASC Topic 230, “Statement of Cash Flows,” requires the benefits of tax deductions in excess of recognized compensation cost to be reported as an operating cash flow. This requirement reduces net operating cash flows. While the company cannot estimate what those amounts will be in the future (because they depend on, among other things, the date employees exercise stock options), United recognized cash flows used in operating activities of $83,000, $258,000, and $128,000 from excess tax benefits related to share-based compensation arrangements for the year of 2025, 2024 and 2023, respectively.
Restricted Stock
As of December 31, 2025, no restricted stock awards have been granted under the 2025 EIP. Under the 2020 LTI Plan, United awarded restricted common shares to key employees and non-employee directors. Shares of restricted stock granted to participants were scheduled to vest no sooner than 1/3 per year over the first three anniversaries of the award. Recipients of shares of restricted stock under the Prior Plans did not pay any consideration to United for the shares, had the right to vote all shares subject to such grant and received all dividends with respect to such shares, whether or not the shares have vested. Presently, these nonvested participating securities have an immaterial impact on diluted earnings per share. Under the 2025 EIP, recipients of restricted stock will have the right to vote all shares subject to such grant, whether
 
or not the shares have vested, but any dividends paid upon any restricted stock will be retained by the Company during the period of restriction, and will be paid to the relevant grantee (without interest) when the restricted stock vests and will revert back to the Company if for any reason the restricted stock upon which such dividends were paid is forfeited by the grantee prior to vesting. As of December 31, 2025, the total unrecognized compensation cost related to nonvested restricted stock awards was $
7,097
,000
with a weighted-average expense recognition period of 
0.9
years.
The following summarizes the changes to United’s restricted common shares for the year ended December 31, 2025:

 
  
Number of
Shares
 
  
Weighted-Average

Grant Date Fair
Value Per Share
Nonvested at January 1, 2025
      310,027       $ 36.58
Granted
      184,515         36.77
Vested
      (152,433 )        36.94
Forfeited
      (16,682 )        36.54
  
 
 
     
 
Outstanding at December 31, 2025
      325,427       $ 36.52
  
 
 
     
 
Restricted Stock Units
As of December 31, 2025, no
restricted stock units have been granted under the 2025 EIP. Under the 2020 LTI Plan, United granted restricted stock units (“RSUs”) to key employees. These awards helped align the interests of these employees with the interests of the shareholders of United by providing economic value directly related to the performance of the Company. These RSU grants were time-vested RSUs, performance-vested RSUs, or a combination of both. Currently, time-vested RSUs vest ratably over three years from the date of grant. Performance-vested RSUs cliff-vest after assessment of the Company’s performance over a period of three years. The number of performance-vested RSUs outstanding as of December 31, 2025 that vest is determined by two metrics measured relative to peers: Return on Average Tangible Common Equity (“ROATCE”) and Total Shareholder Return (“TSR”). Based on ASC Topic 718, the ROATCE comparison is considered a performance condition while the TSR comparison is considered a market condition. There will be no payout of the performance-vested awards if the threshold performance is not achieved. United communicates the specific threshold, target, and maximum performance-vested RSU awards and performance targets to the applicable key employees at the beginning of a performance period. Dividend equivalents are accrued but not paid in respect to the awards until the RSUs vest. The holder does not have the right to vote the shares until shares of common stock are delivered in respect of vested RSUs. The value of the time-vested RSUs and the performance-vested, based on the performance condition, RSUs awarded is established as the fair market value of the stock at the time of the grant. The value of the performance-vested, based on the market condition, RSUs awarded is estimated through the use of a Monte Carlo valuation model as of the grant date. The Company recognizes expense on the RSUs in accordance with ASC Topic 718. 
The following table summarizes the status of United’s nonvested RSUs during the year ended December 31, 2025:

 
  
Shares
 
  
Weighted-Average

Grant Date Fair
Value Per Share
Nonvested at January 1, 2025
      490,119       $ 35.41
Granted
      256,385         35.35
Vested
      (148,597 )        35.81
Forfeited or expired
      (2,422 )        36.26
  
 
 
     
 
Nonvested at December 31, 2025
      595,485       $ 35.28
  
 
 
     
 
As of December 31, 2025, the total unrecognized compensation cost related to nonvested restricted stock units was $9,572,000 with a weighted-average expense recognition period of 1.2 years.
v3.25.4
Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities
NOTE Q—COMMITMENTS AND CONTINGENT LIABILITIES
Lending-related Commitments
United is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers and to alter its own exposure to fluctuations in interest rates. These financial instruments include loan commitments, standby letters of credit, and interest rate swap agreements. The instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements.
 
United’s maximum exposure to credit loss in the event of nonperformance by the counterparty to the financial instrument for the loan commitments and standby letters of credit is the contractual or notional amount of those instruments. United uses the same policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Collateral may be obtained, if deemed necessary, based on management’s credit evaluation of the counterparty.
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the commitment contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily, and historically do not, represent future cash requirements. The amount of collateral obtained, if deemed necessary upon the extension of credit, is based on management’s credit evaluation of the counterparty. United had approximately $6,408,827,000 and $5,886,473,000 of loan commitments outstanding as of December 31, 2025 and December 31, 2024, respectively, approximately 32.13% of which contractually expire within one year.
Commercial and standby letters of credit are agreements used by United’s customers as a means of improving their credit standing in their dealings with others. Under these agreements, United guarantees certain financial commitments of its customers. A commercial letter of credit is issued specifically to facilitate trade or commerce. Typically, under the terms of a commercial letter of credit, a commitment is drawn upon when the underlying transaction is consummated as intended between the customer and a third party. As of December 31, 2025 and December 31, 2024, United had $2,762,000 and $15,546,000 of commercial letters of credit outstanding. A standby letter of credit is generally contingent upon the failure of a customer to perform according to the terms of an underlying contract with a third party. United has issued standby letters of credit of $166,885,000 and $148,874,000 as of December 31, 2025 and December 31, 2024, respectively. In accordance with the Contingencies Topic of the FASB Accounting Standards Codification, United has determined that substantially all of its letters of credit are renewed on an annual basis and the fees associated with these letters of credit are immaterial.
Mortgage Banking
Related to its mortgage banking activities, United provides for its estimated exposure to repurchase loans previously sold to investors for which borrowers failed to provide full and accurate information on their loan application or for which appraisals have not been acceptable or where the loan was not underwritten in accordance with the loan program specified by the loan investor, and for other exposure to its investors related to loan sales activities. United evaluates the merits of each claim and estimates its reserve based on actual and expected claims received and considers the historical amounts paid to settle such claims. United’s reserve was immaterial as of December 31, 2025 and December 31, 2024.
United has derivative counter-party risk that may arise from the possible inability of United’s mortgage banking third party investors to meet the terms of their forward sales contracts. United works with mortgage banking third-party investors that are generally well-capitalized, are investment grade and exhibit strong financial performance to mitigate this risk. United does not expect any third-party investor to fail to meet its obligation.
Legal Proceedings
United and its subsidiaries are currently involved in various legal proceedings in the normal course of business. On at least a quarterly basis, United assesses its liabilities and contingencies in connection with all pending or threatened claims and litigation, utilizing the most recent information available. On a matter-by-matter basis, an accrual for loss is established for those matters which United believes it is probable that a loss may be incurred and that the amount of such loss can be reasonably estimated. Once established, each accrual is adjusted as appropriate to reflect any subsequent developments. Accordingly, management’s estimate will change from time to time, and actual losses may be more or less than the current estimate. For matters where a loss is not probable, or the amount of the loss cannot be estimated, no accrual is established.
Management is vigorously pursuing all its legal and factual defenses and, after consultation with legal counsel, believes that all such litigation will be resolved with no material effect on United’s financial statements.
 
Regulatory Matters
A variety of consumer products, including mortgage and deposit products, and certain fees and charges related to such products, have come under increased regulatory scrutiny. It is possible that regulatory authorities could bring enforcement actions, including civil money penalties, or take other actions against United in regard to these consumer products. United could also determine of its own accord, or be required by regulators, to refund or otherwise make remediation payments to customers in connection with these products. It is not possible at this time for management to assess the probability of a material adverse outcome or reasonably estimate the amount of any potential loss related to such matters.
v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
NOTE R—DERIVATIVE FINANCIAL INSTRUMENTS
United uses derivative instruments to help aid against adverse price changes or interest rate movements on the value of certain assets or liabilities and on future cash flows. These derivatives may consist of interest rate swaps, caps, floors, collars, futures, forward contracts, written and purchased options. United also executes derivative instruments with its commercial banking customers to facilitate its risk management strategies.
During 2020, United entered into two interest rate swap derivatives designated as cash flow hedges. The notional amount of these cash flow hedge derivatives totaled $500,000,000. The derivatives are intended to hedge the changes in cash flows associated with floating rate FHLB borrowings. One of these two interest rate swap derivatives matured during the third quarter of 2024.
As of December 31, 2025, United has determined that no forecasted transactions related to its cash flow hedge resulted in gains or losses pertaining to cash flow hedge reclassification from AOCI to income because the forecasted transactions became probable of not occurring. United estimates that $
7,378,000
will be reclassified from AOCI as a decrease to interest expense over the next 12-months following December 31, 2025 related to the cash flow hedge. As of December 31, 2025, the maximum length of time over which forecasted transactions are hedged is five years. 
United is subject to the Dodd-Frank Act clearing requirement for eligible derivatives. United has executed and cleared eligible derivatives through the London Clearing House (“LCH”). Variation margin at the LCH is distinguished as settled-to-market and settled daily based on the prior day value, rather than collateralized-to-market. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument. The total notional amount of interest rate swap derivatives designated as cash flow hedges cleared through the LCH include $250,000,000 for asset derivatives as of December 31, 2025. Balances related to LCH are presented as a single unit of account with the fair value of the designated cash flow interest rate swap asset being reduced by variation margin posted by (with) the applicable counterparty and reported in the following table on a net basis. The related fair value on a net basis approximates zero.
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 December 31, 2025 and December 31, 2024.

 
  
Asset Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
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      $ 9,466      $ 316        Other assets      $ 10,770      $ 644  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total Fair Value Hedges
       $ 9,466      $ 316         $ 10,770      $ 644  
Cash Flow Hedges:
                  
Interest rate swap contracts (hedging FHLB borrowings)
      Other assets      $ 250,000      $ 0        Other assets      $ 250,000      $ 0  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total Cash Flow Hedges
       $  250,000      $ 0         $ 250,000      $ 0  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives designated as hedging instruments
       $  259,466      $  316         $  260,770      $  644  
     
 
 
     
 
 
        
 
 
     
 
 
  
 
 
  
Asset Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
Derivatives not designated as hedging instruments
  
  
  
  
  
  
Forward loan sales commitments
      Other assets     
$
 3,981     
$
 15        Other assets     
$
 0     
$
 0  
TBA mortgage-backed securities
      Other assets        0        0        Other assets        54,826        278  
Interest rate lock commitments
      Other assets        23,046        458        Other assets        21,553        339  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives not designated as hedging instruments
      
$
 27,027      $  473        
$
 76,379     
$
 617  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total asset derivatives
      
$
 286,493      $ 789        
$
 337,149     
$
 1,261  
     
 
 
     
 
 
        
 
 
     
 
 
  
 
  
Liability Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
Derivatives not designated as hedging instruments
  
  
  
  
  
  
TBA mortgage-backed securities
      Other liabilities      $ 33,882      $ 70        Other liabilities      $ 0      $ 0  
Forward loan sales commitments
      Other liabilities        0        0        Other liabilities        3,186        20  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives not designated as hedging instruments
       $  33,882      $  70         $  3,186      $  20  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total liability derivatives
       $  33,882      $  70         $ 3,186      $ 20  
     
 
 
     
 
 
        
 
 
     
 
 
  
The following table represents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value accounting relationship as of December 31, 2025 and December 31, 2024.
 
 
 
 
 
December 31, 2025
 
(In thousands)
Derivatives in Fair Value
Hedging Relationships
 
Location in the Statement of
Condition
 
Carrying Amount of
the Hedged Assets/
(Liabilities)
 
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities)
 
 
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining for
any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued
 
Interest rate swaps
  
Loans, net of unearned income
    $ 9,466    $  (331)      $   0  
 
 
 
 
December 31, 2024
 
(In thousands)
Derivatives in Fair Value
Hedging Relationships
 
Location in the Statement
of Condition
 
Carrying Amount of
the Hedged

Assets/(Liabilities)
 
 
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities)
 
 
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining
for any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued
 
Interest rate swaps
  
Loans, net of unearned income
    $  10,770  
 $  (657)      $   0  
Derivative contracts involve the risk of dealing with both bank customers and institutional derivative counterparties and their ability to meet contractual terms. Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. United’s exposure is limited to the replacement value of the contracts rather than the notional amount of the contract. The Company’s agreements generally contain provisions that limit the unsecured exposure up to an agreed upon threshold. Additionally, the Company attempts to minimize credit risk through certain approval processes established by management.
 
The effect of United’s derivative financial instruments on its Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023 is presented as follows:
                             
 
 
 
 
Year Ended
 
(In thousands)
 
Income Statement
Location
 
December 31,
2025
 
 
December 31,
2024
 
 
December 31,
2023
 
Derivatives in hedging relationships
Cash Flow Hedges:
 
  
 
      
 
      
 
      
Interest rate swap contracts
 
Interest on long-term
borrowings 
(1)
 
$
9,718
 
 
$
20,932
 
 
$
23,574
 
Fair Value Hedges:
 
  
 
      
 
      
 
      
Interest rate swap contracts
 
Interest and fees on loans and leases
 
$
(2
) 
 
$
8
 
 
$
117
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives in hedging relationships
 
  
 
$
9,716
 
 
$
20,940
 
 
$
23,691
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
  
 
      
 
      
 
      
Forward loan sales commitments
   Income from Mortgage Banking Activities     35       (114 )      (127 ) 
TBA mortgage-backed securities
   Income from Mortgage Banking Activities     (348 )      956       (611 ) 
Interest rate lock commitments
   Income from Mortgage Banking Activities     (11 )      (489 )      (240 ) 
   
 
 
    
 
 
    
 
 
  
Total derivatives not designated as hedging instruments
   $ (324 )    $ 353     $ (978 ) 
   
 
 
    
 
 
    
 
 
  
Total derivatives
   $ 9,392     $ 21,293     $ 22,713  
 
 
 
    
 
 
    
 
 
  
 
(1)
Decreases or increases in interest expense are expressed as positive or negative amounts, respectively, based on their impact to net income.
For the years ended December 31, 2025, 2024 and 2023, changes in the fair value of any interest rate swaps attributed to hedge ineffectiveness were recorded, but were not significant to United’s Consolidated Statements of Income.
v3.25.4
Comprehensive Income
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Comprehensive Income
NOTE S—COMPREHENSIVE INCOME
The changes in accumulated other comprehensive income are as follows:
 
 
  
For the Years Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Net Income
   
 $
  464,603
 
  
 $
  372,996
 
  
 $
  366,313
 
Available for sale (“AFS”) securities:
       
Change in net unrealized gains on AFS securities arising during the period
      117,563       24,251       98,627  
Related income tax effect
      (28,097 )     (5,840 )      (22,980 ) 
Net reclassification adjustment for losses included in net income
      0       16,296       7,659  
Related income tax effect
      0       (3,852 )      (1,785 ) 
  
 
 
    
 
 
    
 
 
  
     89,466       30,855       81,521  
  
 
 
    
 
 
    
 
 
  
Net effect of AFS securities on other comprehensive income
   
 
89,466
 
  
 
30,855
 
  
 
81,521
 
Cash flow hedge derivatives:
       
Unrealized (loss) gain on cash flow hedge before reclassification to interest expense
      (3,340 )      12,744       6,548  
Related income tax effect
      798       (2,987 )      (1,526 ) 
Net reclassification adjustment for gains included in net income
      (9,718 )      (20,932 )      (23,574 ) 
Related income tax effect
      2,323       4,926       5,493  
  
 
 
    
 
 
    
 
 
  
Net effect of cash flow hedge derivatives on other comprehensive
income
   
 
(9,937
) 
  
 
(6,249
) 
  
 
(13,059
) 
Defined benefit pension plan:
       
Net actuarial gain during the period
      7,089       12,348       2,635  
Related income tax expense
      (1,694 )      (2,951 )      (613 ) 
Amortization of net actuarial loss recognized in net income
      69       2,315       3,347  
Related income tax effect
      (17 )      (540 )      (780 ) 
  
 
 
    
 
 
    
 
 
  
Net effect of change in defined benefit pension plan on other comprehensive
income
   
 
5,447
 
  
 
11,172
 
  
 
4,589
 
  
 
 
    
 
 
    
 
 
  
Total change in other comprehensive income, net of tax
   
 
84,976
 
  
 
35,778
 
  
 
73,051
 
  
 
 
    
 
 
    
 
 
  
Total Comprehensive Income
   
$
549,579
 
  
$
408,774
 
  
$
439,364
 
  
 
 
    
 
 
    
 
 
  
 
The components of accumulated other comprehensive income for the year ended December 31, 2025 are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in Accumulated Other Comprehensive Income (AOCI) by Component
(a)
For the Year Ended December 31, 2025
 
(Dollars in thousands)
  
Unrealized
Gains/
Losses on
AFS
Securities
 
  
Unrealized
Gains/
Losses on
Cash Flow
Hedges
 
 
Defined
Benefit
Pension

Items
 
  
Total
 
Balance at January 1, 2025
    $  (247,964)      $  33,706     $ (9,645)      $ (223,903)  
Other comprehensive income (loss) before reclassification
      89,466        (2,542 )      0        86,924  
Amounts reclassified from accumulated other comprehensive income
      0        (7,395 )      5,447        (1,948 ) 
  
 
 
     
 
 
    
 
 
     
 
 
  
Net current-period other comprehensive income (loss), net of tax
      89,466        (9,937 )      5,447        84,976  
  
 
 
     
 
 
    
 
 
     
 
 
  
Balance at December 31, 2025
    $ (158,498)      $ 23,769     $ (4,198)      $ (138,927)  
  
 
 
     
 
 
    
 
 
     
 
 
  
(a) All amounts are net-of-tax. United has adopted the portfolio approach for purposes of releasing residual tax effects within AOCI.
 
Reclassifications out of Accumulated Other Comprehensive Income (AOCI)
For the Year Ended December 31, 2025
  
(In thousands)
 
Details about AOCI Components
   
Amount

Reclassified

from AOCI
    
Affected Line Item in the Statement Where

Net Income is Presented
  
Cash flow hedge:
     
Net reclassification adjustment for gains included in net income
    $ (9,718 )      Interest expense  
  
 
 
    
     (9,718 )      Total before tax  
Related income tax effect
      2,323       Tax expense  
  
 
 
    
     (7,395 )      Net of tax  
  
 
 
    
Pension plan:
     
Recognized net actuarial gain
      7,089  (a)   
Amortization of net actuarial loss
      69  (b)   
  
 
 
    
     7,158       Total before tax  
Related income tax effect
      (1,711 )      Tax expense  
  
 
 
    
     5,447       Net of tax  
  
 
 
    
Total reclassifications for the period
    $ (1,948 )   
  
 
 
    
 
(a)
This AOCI component is included in the computation of changes in plan assets (see Note O, Employee Benefit Plans)
(b)
This AOCI component is included in the computation of net periodic pension cost (see Note O, Employee Benefit Plans)
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
United Bankshares, Inc. (Parent Company Only) Financial Information
NOTE
T--UNITED
BANKSHARES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION
 
 
 
 
 
 
 
 
 
 
Condensed
Balance
Sheets
  
 
 
 
 
 
 
  
December 31
 
(In thousands)
  
2025
 
 
2024
 
Assets
  
      
 
      
Cash and due from banks
    $ 186,446     $ 249,515  
Securities available for sale
      5,253       5,663  
Securities held to maturity
      20       20  
Equity securities
      29,434       15,897  
Other investment securities
      10,879       11,400  
Investment in subsidiaries:
     
Bank subsidiaries
      5,577,829       5,024,692  
Nonbank subsidiaries
      56,009       55,755  
Goodwill
      (16,466 )      (16,715 ) 
Other assets
      33,837       32,152  
  
 
 
    
 
 
  
Total Assets
    $ 5,883,241     $ 5,378,379  
  
 
 
    
 
 
  
Liabilities and Shareholders’ Equity
     
Junior subordinated debentures of subsidiary trusts
    $ 281,817     $ 280,221  
Accrued expenses and other liabilities
      105,441       104,935  
Shareholders’ equity (including other accumulated comprehensive losses of $138,927 and $223,903 at December 31, 2025 and 2024, respectively)
      5,495,983       4,993,223  
  
 
 
    
 
 
  
Total Liabilities and Shareholders’ Equity
    $ 5,883,241     $ 5,378,379  
  
 
 
    
 
 
  
 
Condensed Statements of Income
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Income
  
 
 
Dividends from banking subsidiaries
    $ 317,000     $ 231,000     $ 217,000  
Net interest income
      720       933       970  
Management fees:
       
Bank subsidiaries
      51,913       48,307       43,852  
Nonbank subsidiaries
      51       51       27  
Other income
      12,580       5,064       2,167  
  
 
 
    
 
 
    
 
 
  
Total Income
      382,264       285,355       264,016  
  
 
 
    
 
 
    
 
 
  
Expenses
       
Interest paid on borrowings
      767       0       0  
Operating expenses
      83,167       80,922       67,968  
  
 
 
    
 
 
    
 
 
  
Total Expenses
      83,934       80,922       67,968  
  
 
 
    
 
 
    
 
 
  
Income Before Income Taxes and Equity in Undistributed Net Income of Subsidiaries
      298,330       204,433       196,048  
Applicable income tax benefit
      (2,732 )      (5,589 )      (4,521 ) 
  
 
 
    
 
 
    
 
 
  
Income Before Equity in Undistributed Net
       
Income of Subsidiaries
      301,062       210,022       200,569  
Equity in undistributed net income of subsidiaries:
       
Bank subsidiaries
      169,335       169,778       170,997  
Nonbank subsidiaries
      (5,794 )      (6,804 )      (5,253 ) 
  
 
 
    
 
 
    
 
 
  
Net
Income
    $ 464,603     $ 372,996     $ 366,313  
  
 
 
    
 
 
    
 
 
  
 
Condensed Statements of Cash Flows
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Operating Activities
  
 
 
Net income
    $ 464,603     $ 372,996     $ 366,313  
Adjustments to reconcile net income to net cash provided by operating activities:
       
Equity in undistributed net income of subsidiaries
      (163,541 )      (162,974 )      (165,744 ) 
Amortization of net periodic pension costs
      1       141       204  
Stock-based compensation
      13,089       12,130       12,463  
Excess tax benefits from stock-based compensation arrangements
      83       258       128  
Net change in other assets and liabilities
      (14,316 )      (5,925 )      (5,420 ) 
  
 
 
    
 
 
    
 
 
  
Net Cash Provided by Operating Activities
      299,919       216,626       207,944  
  
 
 
    
 
 
    
 
 
  
Investing Activities
       
Net proceeds from sales of debt securities
      410       183       338  
 
Condensed Statements of Cash Flows
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Net (purchases) proceeds from sales of equity securities
      (216 )      130       (1,303 ) 
Net cash paid in acquisition of subsidiary
      428       0       0  
Increase in investment in subsidiaries
      (6,000 )      (8,000 )      (16,000 ) 
Change in other investment securities
      (1,795 )      (1,187 )      (1,525 ) 
  
 
 
    
 
 
    
 
 
  
Net Cash Used in Investing Activities
      (7,173 )      (8,874 )      (18,490 ) 
  
 
 
    
 
 
    
 
 
  
Financing Activities
       
Repayment of subordinated notes
      (20,575 )      0       (10,250 ) 
Cash dividends paid
      (209,002 )      (200,727 )      (194,727 ) 
Acquisition of treasury stock
      (126,989 )      (1,040 )      (1,382 ) 
Proceeds from exercise of stock options
      751       5,274       1,750  
  
 
 
    
 
 
    
 
 
  
Net Cash Used in Financing Activities
      (355,815 )      (196,493 )      (204,609 ) 
  
 
 
    
 
 
    
 
 
  
(Decrease) Increase in Cash and Cash Equivalents
      (63,069 )      11,259       (15,155 ) 
Cash and Cash Equivalents at Beginning of Year
      249,515       238,256       253,411  
  
 
 
    
 
 
    
 
 
  
Cash and Cash Equivalents at End of Year
    $ 186,446     $ 249,515     $ 238,256  
  
 
 
    
 
 
    
 
 
  
v3.25.4
Regulatory Matters
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Regulatory Matters
NOTE U—REGULATORY MATTERS
United Bank maintains average reserve balances with its Federal Reserve Bank. The average amount of those consolidated reserve balances maintained for the year ended December 31, 2025 and 2024 were approximately $2,036,744,000 and $1,184,007,000, respectively. No reserve balance for the year ended December 31, 2025 and 2024 was required.
The primary source of funds for the dividends paid by United to its shareholders is dividends received from United Bank. Dividends paid by United Bank are subject to certain regulatory limitations. Generally, the most restrictive provision requires regulatory approval if dividends declared in any year exceed that year’s net income, as defined, plus the retained net profits of the two preceding years.
During 2026, the retained net profits available for distribution to United by United Bank as dividends without regulatory approval, are approximately $339,113,000, plus net income for the interim period through the date of declaration.
Under Federal Reserve regulation, United Bank is also limited as to the amount they may loan to affiliates, including the parent company. Loans from United Bank to the parent company are limited to 10% of the banking subsidiaries’ capital and surplus, as defined, or $425,053,000 at December 31, 2025, and must be secured by qualifying collateral.
United’s subsidiary banks are subject to various regulatory capital requirements administered by federal banking agencies. Pursuant to capital adequacy guidelines, United’s subsidiary banks must meet specific capital guidelines that involve various quantitative measures of the banks’ assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. United’s subsidiary banks’ capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.
As previously mentioned, in December 2017, the Basel Committee published standards that it described as the finalization of the Basel III post-crisis regulatory reforms. The quantitative measures established by the Basel III regulation to ensure capital adequacy require United and United Bank to maintain minimum amounts and ratios of total, Tier I capital, and common Tier I capital as defined in the regulations, to risk-weighted assets, as defined, and of Tier I capital, as defined, to average assets, as defined. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on United’s financial statements. As of December 31, 2025, United exceeds all capital adequacy requirements to which it is subject.
At December 31, 2025, the most recent notification from its regulators, United and United Bank were categorized as well-capitalized. To be categorized as well-capitalized, United must maintain minimum total risk-based, Tier I risk-based, Common Tier I risk-based, and Tier I leverage ratios as set forth in the following table. There are no conditions or events since that notification that management believes would impact United’s well-capitalized status.
 
United’s and United Bank’s capital amounts (in thousands of dollars) and ratios are presented in the following table.
 
(Dollars in thousands)
  
Actual
 
 
For Capital

Adequacy Purposeas
 
 
To Be Well-

Capitalized
 
 
  
 Amount 
 
  
 Ratio 
 
 
 Amount 
 
  
 Ratio 
 
 
 Amount 
 
  
 Ratio 
 
As of December 31, 2025:
            
Total Capital (to Risk- Weighted Assets):
            
United Bankshares
   $  4,191,144       15.7 %    $  2,133,353     ≥ 8.0 %    $  2,666,691     ≥ 10.0 % 
United Bank
     3,967,217       15.0 %      2,122,625     ≥ 8.0 %      2,653,281     ≥ 10.0 % 
Tier I Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,583,795       13.4 %    $ 1,600,014     ≥ 6.0 %    $ 2,133,353     ≥ 8.0 % 
United Bank
     3,647,868       13.8 %      1,591,968     ≥ 6.0 %      2,122,625     ≥ 8.0 % 
Common Tier I Capital (to Risk Weighted Assets):
            
United Bankshares
   $ 3,583,795       13.4 %    $ 1,200,011     ≥ 4.5 %    $ 1,733,349     ≥ 6.5 % 
United Bank
     3,647,868       13.8 %      1,193,976     ≥ 4.5 %      1,724,632     ≥ 6.5 % 
Tier I Capital (to Average Assets):
            
United Bankshares
   $ 3,583,795       11.3 %    $ 1,270,832     ≥ 4.0 %    $ 1,588,540     ≥ 5.0 % 
United Bank
     3,647,868       11.5 %      1,265,588     ≥ 4.0 %      1,581,985     ≥ 5.0 % 
As of December 31, 2024:
Total Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,897,755       16.5 %    $ 1,887,433     ≥ 8.0 %    $ 2,359,292     ≥ 10.0 % 
United Bank
     3,620,657       15.4 %      1,877,704     ≥ 8.0 %      2,347,131     ≥ 10.0 % 
Tier I Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,335,667       14.1 %    $ 1,415,575     ≥ 6.0 %    $ 1,887,433     ≥ 8.0 % 
United Bank
     3,348,071       14.3 %      1,408,278     ≥ 6.0 %      1,877,704     ≥ 8.0 % 
Common Tier I Capital (to Risk Weighted Assets):
            
United Bankshares
   $ 3,335,667       14.1 %    $ 1,061,681     ≥ 4.5 %    $ 1,533,540     ≥ 6.5 % 
United Bank
     3,348,071       14.3 %      1,056,209     ≥ 4.5 %      1,525,635     ≥ 6.5 % 
Tier I Capital (to Average Assets):
            
United Bankshares
   $ 3,335,667       11.7 %    $ 1,136,661     ≥ 4.0 %    $ 1,420,827     ≥ 5.0 % 
United Bank
     3,348,071       11.8 %      1,132,023     ≥ 4.0 %      1,415,029     ≥ 5.0 % 
v3.25.4
Fair Values of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments
NOTE V—FAIR VALUES OF FINANCIAL INSTRUMENTS
In accordance with ASC Topic 820, the following describes the valuation techniques used by United to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements.
Securities available for sale and equity securities
: Securities available for sale and equity securities are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (“Level 1”). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Using a market approach valuation methodology, third party vendors compile prices based on observable market inputs, which include benchmark yields, reported trades, issuer spreads, benchmark securities, and “To Be Announced” prices (“Level 2”). Management internally reviews the fair values provided by third party vendors on a monthly basis. Management also performs a quarterly price testing analysis at the individual security level which compares the pricing provided by the third party vendors to an independent pricing source’s valuation of the same securities. Variances that are deemed to be material are reviewed by management. Additionally, to further assess the reliability of the information received from third party vendors, management obtains documentation from third party vendors related to the sources, methodologies, and inputs utilized in valuing securities classified as Level 2. Management analyzes this information to ensure the underlying assumptions appear reasonable. Management also obtains an independent service auditor’s report
from third party vendors to provide reasonable assurance that appropriate controls are in place over the valuation process. Upon completing its review of the pricing from third party vendors at December 31, 2025, management determined that the prices provided by its third party pricing sources were reasonable and in line with management’s expectations for the market values of these securities. Therefore, prices obtained from third party vendors that did not reflect forced liquidation or distressed sales were not adjusted materially by management at December 31, 2025. Management utilizes a number of factors to determine if a market is inactive, all of which may require a significant level of judgment. Factors that management considers include: a significant widening of the bid-ask spread, a considerable decline in the volume and level of trading activity in the instrument, a significant variance in prices among market participants, and a significant reduction in the level of observable inputs. Any securities available for sale not valued based upon quoted market prices or third party pricing models that consider observable market data are considered Level 3. Currently, United does not have any available-for-sale securities considered as Level 3.
Loans held for sale
: For residential mortgage loans sold, the loans closed are recorded at fair value using the fair value option which is measured using valuations from investors for loans with similar characteristics (“Level 2”) with some adjusted for the Company’s actual sales experience versus the investor’s indicated pricing (“Level 3”). The unobservable input for Level 3 valuations is the Company’s historical sales prices. For December 31, 2025, the range of historical sales prices increased the investor’s indicated pricing by a range of 0.11% to 0.45% with a weighted average increase of 0.10%.
Derivatives
: United utilizes interest rate swaps to hedge exposure to interest rate risk and variability of cash flows associated to changes in the underlying interest rate of the hedged item. These hedging interest rate swaps are classified as either a fair value hedge or a cash flow hedge. United utilizes third-party vendors for derivative valuation purposes. These vendors determine the appropriate fair value based on a net present value calculation of the cash flows related to the interest rate swaps using primarily observable market inputs such as interest rate yield curves (“Level 2”). Valuation adjustments to derivative fair values for liquidity and credit risk are also taken into consideration, as well as the likelihood of default by United and derivative counterparties, the net counterparty exposure and the remaining maturities of the positions. Values obtained from third party vendors are typically not adjusted by management. Management internally reviews the derivative values provided by third party vendors on a quarterly basis. All derivative values are tested for reasonableness by management utilizing a net present value calculation.
For a fair value hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to the hedged financial instrument. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a fair value hedge are offset in current period earnings either in interest income or interest expense depending on the nature of the hedged financial instrument. For a cash flow hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to accumulated other comprehensive income within shareholders’ equity, net of tax. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a cash flow hedge are offset to accumulated other comprehensive income, net of tax and reclassified into earnings in the same line associated with the forecasted transaction when the forecasted transaction affects earnings.
The Company records its interest rate lock commitments and forward loan sales commitments at fair value determined as the amount that would be required to settle each of these derivative financial instruments at the balance sheet date. In the normal course of business, United enters into contractual interest rate lock commitments to extend credit to borrowers with fixed expiration dates. The commitments become effective when the borrowers “lock-in” a specified interest rate within the timeframes established by the mortgage companies. All borrowers are evaluated for credit worthiness prior to the extension of the commitment. Interest rate risk arises if interest rates move adversely between the time of the interest rate lock by the borrower and the sale date of the loan to the investor. To mitigate the effect of the interest rate risk inherent in providing rate lock commitments to borrowers, United enters into either a forward sales contract to sell loans to investors or a TBA mortgage-backed security. Fair values of TBA mortgage-backed securities are measured using valuations from investors for mortgage-backed securities with similar characteristics (“Level 2”). The forward sales contracts lock in an interest rate and price for the sale of loans similar to the specific rate lock commitments. These valuations fall into a Level 2 category. The interest rate lock commitments are recorded at fair value which is measured using valuations from investors for loans with similar characteristics (“Level 2”) with some adjusted for the Company’s actual sales experience versus the investor’s indicated pricing (“Level 3”). The unobservable input for Level 3 valuations is the Company’s historical sales prices. For December 31, 2025, the range of historical sales prices increased the investor’s indicated pricing by a range of 0.11% to 0.45% with a weighted average increase of 0.10%.
For derivatives that are not designated in a hedge relationship, changes in the fair value of these derivatives are recognized in income from mortgage banking activities in the same period as the change in the fair value. Unrealized gains and losses due to changes in the fair value of other derivative financial instruments not in hedge relationship, if any, are included in noninterest income and noninterest expense, respectively.
The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and 2024, segregated by the level of the valuation inputs within the fair value hierarchy:
 
 
  
 
 
  
Fair Value at December 31, 2025 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,

2025
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
            
Available for sale debt securities:
            
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 281,657      $ 0      $ 281,657      $ 0  
State and political subdivisions
      516,926        0        516,926        0  
Residential mortgage-backed securities
            
Agency
      1,358,636        0        1,358,636        0  
Non-agency
      38,885        0        38,885        0  
Commercial mortgage-backed securities
            
Agency
      395,073        0        395,073        0  
Asset-backed securities
      223,254        0        223,254        0  
Single issue trust preferred securities
      12,658        0        12,658        0  
Other corporate securities
      232,363        4,678        227,685        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total available for sale securities
      3,059,452        4,678        3,054,774        0  
Equity securities:
            
Financial services industry
      25,825        20,421        5,404        0  
Equity mutual funds (1)
      3,610        3,610        0        0  
Fixed income mutual funds
      5,325        5,325        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total equity securities
      34,760        29,356        5,404        0  
Loans held for sale
      31,277        0        0        31,277  
Derivative financial assets:
            
Interest rate swap contracts
      316        0        316        0  
Forward loan sales commitments
      15        0        0        15  
Interest rate lock commitments
      458        0        0        458  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial assets
      789        0        316        473  
Liabilities
            
Derivative financial liabilities:
            
TBA mortgage-backed securities
      70        0        0        70  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial liabilities
      70        0        0        70  
 
 
  
 
 
  
Fair Value at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,

2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
            
Available for sale debt securities:
            
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 245,842      $ 0      $ 245,842      $     0  
State and political subdivisions
      495,073        0        495,073        0  
Residential mortgage-backed securities
            
Agency
      1,059,719        0        1,059,719        0  
Non-agency
      82,123        0        82,123        0  
Commercial mortgage-backed securities
            
 
 
  
 
 
  
Fair Value at December 31, 2024 Using
 
(In thousands)
Description
  
Balance as of

December 31,

2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Agency
  
 
329,986
 
  
 
0
 
  
 
329,986
 
  
 
0
 
Asset-backed securities
  
 
474,982
 
  
 
0
 
  
 
474,982
 
  
 
0
 
Single issue trust preferred securities
  
 
11,919
 
  
 
0
 
  
 
11,919
 
  
 
0
 
Other corporate securities
      260,075        4,965        255,110        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total available for sale securities
      2,959,719        4,965        2,954,754        0  
Equity securities:
            
Financial services industry
      12.504        12,504        0        0  
Equity mutual funds (1)
      3,394        3,394        0        0  
Fixed income mutual funds
      5,160        5,160        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total equity securities
      21,058        21,058        0        0  
Loans held for sale
      44,360        0        0        44,360  
Derivative financial assets:
            
Interest rate swap contracts
      644        0        644        0  
TBA mortgage-backed securities
      278        0        0        278  
Interest rate lock commitments
      339        0        0        339  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial assets
      1,261        0        644        617  
Liabilities
            
Derivative financial liabilities:
            
Forward sales commitments
      20        0        0        20  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial liabilities
      20        0        0        20  
 
 
(1)
The equity mutual funds are within a rabbi trust for the payment of benefits under a deferred compensation plan for certain key officers of United and its subsidiaries.
There were no transfers between Level 1, Level 2 and Level 3 for financial assets and liabilities measured at fair value on a recurring basis during the year ended December 31, 2025 and 2024.
The following tables present additional information about financial assets and liabilities measured at fair value at December 31, 2025 and 2024 on a recurring basis and for which United has utilized Level 3 inputs to determine fair value. The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses related to assets still held at the reporting date are recorded in Income from mortgage banking activities in the Consolidated Statements of Income.
 
  
 
 
 
Derivative Assets
 
  
Derivative Liabilities
 
(In thousands)
 
December 31, 2025
  
Loans Held
for Sale
 
 
TBA
Securities
 
 
Forward Sales

Commitments
 
  
Interest Rate
Lock
Commitments
 
  
TBA
Securities
 
  
Forward

Sales
Commitments
 
Balance, beginning of period
     $ 44,360      $ 278      $ 0       $ 339       $ 0       $ 20  
Originations
      370,856       0       0        0        0        0  
Sales
      (393,506 )      0       0        0        0        0  
Transfers other
      0       (278 )      15        119        70        (20 ) 
Total gains during the period recognized in earnings
      9,567       0       0        0        0        0  
  
 
 
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Balance, end of
period
     $ 31,277      $ 0      $ 15       $ 458       $ 70       $ 0  
  
 
 
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
  
The amount of total (losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date
     $ 48      $ 0      $ 15       $ 458       $ 70       $ 0  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Derivative Assets
 
 
Derivative Liabilities
 
(In thousands)
 
December 31, 2024
  
Loans
Held for

Sale
 
 
TBA
Securities
 
  
Forward Sales
Commitments
 
 
Interest Rate
Lock
Commitments
 
 
TBA
Securities
 
 
Forward
Sales
Commitments
 
Balance, beginning of period
     $ 51,978      $ 0       $ 33      $ 1,005      $ 667      $ 0  
Originations
      607,383       0        0       0       0       0  
Sales
      (630,244 )      0        0       0       0       0  
Transfers other
      0       278        (33 )      (666 )      (667 )      20  
Total gains during the period recognized in earnings
      15,243       0        0       0       0       0  
  
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Balance, end of period
     $ 44,360     $ 278       $ 0      $ 339      $ 0      $ 20  
  
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
The amount of total (losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date
     $ (1,133 )    $ 278       $ 0      $ 339      $ 0      $ 20  
Fair Value Option
The following table reflects the change in fair value included in earnings of financial instruments for which the fair value option has been elected:
 
 
 
 
 
 
(In thousands)
Description
  
Year Ended

December 31, 2025
 
Year Ended

December 31, 2024
Income from mortgage banking activities
    $ 48    $ (1,222)
The following table reflects the difference between the aggregate fair value and the remaining contractual principal outstanding for financial instruments for which the fair value option has been elected:
 
    
December 31, 2025
     
December 31, 2024
  
(In thousands)
 
Description
   
Unpaid
Principal
Balance
     
Fair Value
     
Fair Value
Over/(Under)
Unpaid
Principal
Balance
     
Unpaid
Principal
Balance
     
Fair Value
     
Fair Value
Over/(Under)
Unpaid
Principal
Balance
  
Loans held for sale
     $  30,567       $  31,277       $  710       $  43,698       $  44,360       $  662  
No loans held for sale were past due or on nonaccrual status as of December 31, 2025 and 2024.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Certain financial assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets.
The following describes the valuation techniques used by United to measure certain financial assets recorded at fair value on a nonrecurring basis in the financial statements.
Individually assessed loans
: In the determination of the allowance for loan losses, loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Fair value is measured using a market approach based on the value of the collateral securing the
 
loans. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined utilizing an appraisal conducted by an independent, licensed appraiser outside of the Company using comparable property sales (“Level 2”). However, if the collateral is a house or building in the process of construction or if an appraisal of the real estate property is over two years old, then the fair value is considered Level 3. The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value on the applicable business’ financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (“Level 3”). For individually assessed loans, a specific reserve is established through the allowance for loan losses, if necessary, by estimating the fair value of the underlying collateral on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as provision for credit losses expense on the Consolidated Statements of Income.
OREO
: OREO consists of real estate acquired in foreclosure or other settlement of loans. Such assets are carried on the balance sheet at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. Fair value is determined by one of two market approach methods depending on whether the property has been vacated and an appraisal can be conducted. If the property has yet to be vacated and thus an appraisal cannot be performed, a Brokers Price Opinion (i.e. BPO), is obtained. A BPO represents a best estimate valuation performed by a realtor based on knowledge of current property values and a visual examination of the exterior condition of the property. Once the property is subsequently vacated, a formal appraisal is obtained and the recorded asset value appropriately adjusted. On the other hand, if the OREO property has been vacated and an appraisal can be conducted, the fair value of the property is determined based upon the appraisal using a market approach. An authorized independent appraiser conducts appraisals for United. Appraisals for property other than ongoing construction are based on consideration of comparable property sales (“Level 2”). In contrast, valuation of ongoing construction assets requires some degree of professional judgment. In conducting an appraisal for ongoing construction property, the appraiser develops two appraised amounts: an “as is” appraised value and a “completed” value. Based on professional judgment and their knowledge of the particular situation, management determines the appropriate fair value to be utilized for such property (“Level 3”). As a matter of policy, valuations are reviewed at least annually and appraisals are generally updated on a bi-annual basis with values lowered as necessary.
Intangible Assets
: For United, intangible assets consist of goodwill and core deposit intangibles. Goodwill is tested for impairment at least annually or sooner if indicators of impairment exist. United may elect to perform a qualitative analysis to determine whether or not it is more-likely-than not that the fair value of a reporting unit is less than its carrying amount. If United elects to bypass this qualitative analysis, or concludes via qualitative analysis that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying value, United may use either a market or income quantitative approach to determine the fair value of the reporting unit. If the fair value of the reporting unit is less than its carrying value, an impairment charge would be recorded for the difference, not to exceed the amount of goodwill allocated to the reporting unit. At each reporting date, the Company considers potential indicators of impairment. United performed its annual goodwill impairment test on the Company’s reporting units as of September 30, 2025. The goodwill impairment test did not identify any goodwill impairment. In subsequent periods, economic uncertainty, market volatility and the performance of the Company’s stock as well as possible other impairment indicators could cause us to perform a goodwill impairment test which could result in an impairment charge being recorded for that period if the carrying value of goodwill was found to exceed fair value. Core deposit intangibles relate to the estimated value of the deposit base of acquired institutions. Management reviews core deposit intangible assets on an annual basis, or sooner if indicators of impairment exist, and evaluates changes in facts and circumstances that may indicate impairment in the carrying value. Other than those intangible assets recorded in the acquisition of Piedmont in the year of 2025, no other fair value measurement of intangible assets was made during the year of 2025 and 2024.
 
The following table summarizes United’s financial assets that were measured at fair value on a nonrecurring basis during the period:
 
(In thousands)
 
Description
  
Balance as of

December 31,
2025
 
  
Fair Value at December 31, 2025
 
  
YTD
Gains
(Losses)
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1 )
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
               
Individually assessed loans
    $  51,485      $  0      $  49,870      $  1,615      $  1,172  
OREO
      8,857        0        8,857        0        0  

(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Fair Value at December 31, 2024
 
  
YTD
Gains

(Losses)
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
               
Individually assessed loans
    $ 40,701      $ 0      $ 21,725      $ 18,976      $ (231 ) 
OREO
      327        0        240        87        0  
Fair Value of Other Financial Instruments
The following methods and assumptions were used by United in estimating its fair value disclosures for other financial instruments:
Cash and Cash Equivalents:
The carrying amounts reported in the balance sheet for cash and cash equivalents approximate those assets’ fair values.
Securities held to maturity and other securities
: The estimated fair values of securities held to maturity are based on quoted market prices, where available. If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that consider observable market data. Any securities held to maturity, not valued based upon the methods above, are valued based on a discounted cash flow methodology using appropriately adjusted discount rates reflecting nonperformance and liquidity risks. Other securities consist mainly of shares of Federal Home Loan Bank and Federal Reserve Bank stock as well as investment tax credits that do not have readily determinable fair values and are carried at cost.
Loans and leases
: The fair values of certain mortgage loans (e.g., one-to-four family residential), credit card loans, and other consumer loans are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. The fair values of other loans and leases (e.g., commercial real estate and rental property mortgage loans, commercial and industrial loans, financial institution loans and agricultural loans) are estimated using discounted cash flow analyses, using market interest rates currently being offered for loans and leases with similar terms to borrowers of similar creditworthiness, which include adjustments for liquidity concerns. For acquired PCD loans, fair value is assumed to equal United’s carrying value, which represents the present value of expected future principal and interest cash flows, as adjusted for any Allowance for Credit Losses recorded for these loans.
Deposits
: The fair values of demand deposits (e.g., interest and noninterest checking, regular savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The carrying amounts of variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date. Fair values of fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits.
 
Short-term Borrowings:
The carrying amounts of federal funds purchased, borrowings under repurchase agreements and any other short-term borrowings approximate their fair values.
Long-term Borrowings:
The fair values of United’s Federal Home Loan Bank borrowings and trust preferred securities are estimated using discounted cash flow analyses, based on United’s current incremental borrowing rates for similar types of borrowing arrangements.
Summary of Fair Values for All Financial Instruments
The estimated fair values of United’s financial instruments are summarized below:
 
 
  
 
 
  
 
 
  
Fair Value Measurements
 
(In thousands)
 
  
 Carrying 
Amount
 
  
  Fair Value  
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
December 31, 2025
               
Cash and cash equivalents
    $ 2,542,250      $ 2,542,250      $ 0      $ 2,542,250      $ 0  
Securities available for sale
      3,059,452        3,059,452        4,678        3,054,774        0  
Securities held to maturity
      1,004        1,020        0        0        1,020  
Equity securities
      34,760        34,760        29,356        5,404        0  
Other securities
      305,184        289,925        0        0        289,925  
Loans held for sale
      31,277        31,277        0        0        31,277  
Net loans
      24,411,604        24,432,980        0        0        24,432,980  
Derivative financial assets,
      789        789        0        316        473  
Deposits
      27,060,939        27,031,873        0        27,031,873        0  
Short-term borrowings
      198,573        198,573        0        198,573        0  
Long-term borrowings
      531,817        524,281        0        524,281        0  
Derivative financial liabilities
      70        70        0        70        0  
December 31, 2024
               
Cash and cash equivalents
    $ 2,292,244      $ 2,292,244      $ 0      $ 2,292,244      $ 0  
Securities available for sale
      2,959,719        2,959,719        4,965        2,954,754        0  
Securities held to maturity
      1,002        1,020        0        0        1,020  
Equity securities
      21,058        21,058        21,058        0        0  
Other securities
      277,517        263,641        0        0        263,641  
Loans held for sale
      44,360        44,360        0        0        44,360  
Net loans
      21,401,649        20,868,239        0        0        20,868,239  
Derivative financial assets,
      1,261        1,261        0        644        617  
Deposits
      23,961,859        23,922,063        0        23,922,063        0  
Short-term borrowings
      176,090        176,090        0        176,090        0  
Long-term borrowings
      540,420        505,305        0        505,305        0  
Derivative financial liabilities
      20        20        0        0        20  
v3.25.4
Variable Interest Entities
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities
NOTE W—VARIABLE INTEREST ENTITIES
Variable interest entities (“VIEs”) are entities that either have a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support or whose equity investors lack the characteristics of a controlling financial interest (i.e., ability to make significant decisions, through voting rights, right to receive the expected residual returns of the entity, and obligation to absorb the expected losses of the entity). VIEs can be structured as corporations, trusts, partnerships, or other legal entities. United’s business practices include relationships with certain VIEs. For United, the business purpose of these relationships primarily consists of funding activities in the form of issuing trust preferred securities.
United currently sponsors twenty
statutory business trusts that were created for the purpose of raising funds that originally qualified for Tier I regulatory capital. As previously discussed, these trusts now are considered Tier II regulatory capital. These trusts, of which several were acquired through bank acquisitions, issued or participated in pools of trust preferred
 
capital securities to third-party investors with the proceeds invested in junior subordinated debt securities of United. The Company, through a small capital contribution, owns
100% of the voting equity shares of each trust. The assets, liabilities, operations, and cash flows of each trust are solely related to the issuance, administration, and repayment of the preferred equity securities held by third-party investors. United fully and unconditionally guarantees the obligations of each trust and is obligated to redeem the junior subordinated debentures upon maturity.
As defined in applicable accounting standards, VIEs are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. United’s wholly owned and indirect wholly owned statutory trust subsidiaries are VIEs for which United is not the primary beneficiary. Accordingly, its accounts are not included in United’s consolidated financial statements. At December 31, 2025 and 2024, United’s investment (maximum exposure to loss) in these trusts were $12,686,000 and $12,238,000, respectively.
United, through its banking subsidiary, also makes limited partner equity investments in various low income housing, community development and other partnerships sponsored by independent third-parties. United invests in these partnerships to either realize tax credits on its consolidated federal income tax return or for purposes of earning a return on its investment. These partnerships are considered VIEs as the limited partners lack a controlling financial interest in the entities through their inability to make decisions that have a significant effect on the operations and success of the partnerships. These partnerships are not consolidated as United is not deemed to be the primary beneficiary. At December 31, 2025 and 2024, United’s investment (maximum exposure to loss) in these low income housing, community development and other partnerships were $
129,861,000
and $
98,441,000
, respectively, while related unfunded commitments were $
103,184,000
and $
89,292,000
,
respectively. The total amount of these unfunded commitments in low income housing, community development and other partnerships at December 31, 2025 includes $5,000,000 to a related interest of a director of the Company. As of December 31, 2025, United expects to recover its remaining investments through the use of the tax credits that are generated by the investments.
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information
NOTE X—SEGMENT INFORMATION
United operates in one reportable segment, community banking. Through its community banking segment, United offers a full range of products and services through various delivery channels. Included among the banking products and services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, credit card, commercial, and floor plan loans; and the making of construction and real estate loans as well as the origination and sale of residential mortgages in the secondary market. Also offered are trust and brokerage services, safe deposit boxes, and wire transfers. The community banking segment derives revenues mainly from interest income on loans to customers, investment securities held and other short-term investments in addition to fees and income derived related to the services listed above.
The accounting policies of the community banking segment are the same as those described in the summary of significant accounting policies. United’s chief operating decision maker (“CODM”) is its chief executive officer who maintains responsibility for the day-to-day management of the Company including regularly reviewing the operating results of the community banking segment in order to assess performance and make decisions about resource allocation based on net income that also is reported on the income statement as consolidated net income. The measure of community banking segment assets is reported on the Consolidated Balance Sheets as total assets.
The CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the community banking segment or into other parts of the entity, such as for acquisitions or to pay dividends. Net income is used to monitor budget versus actual results as well as comparing to prior year’s results. The comparative analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment.
 
Information about the community banking segment for the years ended December 31, 2025, 2024 and 2023 is as follows:

 
  
For the Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Total Assets
    $ 33,660,281     $ 30,023,545     $ 29,926,482  
  
 
 
    
 
 
    
 
 
  
Net interest income
    $ 1,102,164     $ 911,068     $ 919,924  
Provision for credit losses
      53,866       25,153       31,153  
Other income
      135,154       123,695       135,258  
Other expense
       
Employee compensation
      252,054       234,618       230,809  
Employee benefits
      54,333       53,621       48,368  
Net occupancy expense
      49,794       46,084       46,426  
OREO expense
      892       576       1,355  
Net gains on the sales of OREO properties
      (148 )      (75 )      (60 ) 
Equipment expense
      34,917       29,686       29,731  
Data processing expense
      32,622       29,646       29,395  
Mortgage loan servicing expense and impairment
      0       2,694       5,596  
Bankcard processing expense
      2,342       2,490       2,192  
FDIC insurance expense
      17,022       19,735       30,376  
Other segment expense
(a)
      156,224       125,956       136,036  
  
 
 
    
 
 
    
 
 
  
Total other expense
      600,052       545,031       560,224  
  
 
 
    
 
 
    
 
 
  
Income before income taxes
      583,400       464,579       463,805  
Income taxes
      118,797       91,583       97,492  
  
 
 
    
 
 
    
 
 
  
Segment net income
      464,603       372,996       366,313  
Reconciliation of profit or loss
       
Adjustments and reconciling items
      0       0       0  
  
 
 
    
 
 
    
 
 
  
Consolidated net income
    $ 464,603     $ 372,996     $ 366,313  
  
 
 
    
 
 
    
 
 
  
 
(a)
Other segment expense includes legal, consulting and other professional services expense, franchise and other taxes not on income, expense for reserve on lending-related commitments, ATM expenses, marketing expense, core deposits amortization, and other general operating expenses.
v3.25.4
Quarterly Financial Data
 12 Months Ended
Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
NOTE Y—QUARTERLY FINANCIAL DATA (UNAUDITED)
Quarterly financial data for 2025 and 2024 is summarized below:

(Dollars in thousands, except per share data)
  
1st Quarter
 
  
2nd Quarter
 
  
3rd Quarter
 
  
4th Quarter
 
2025
  
  
  
  
Interest income
    $ 403,647     $ 421,196     $ 430,957     $ 430,053  
Interest expense
      143,592       146,659       150,842       142,596  
Net interest income
      260,055       274,537       280,115       287,457  
Provision for credit losses
      29,103       5,889       12,095       6,779  
Mortgage banking income
      2,479       2,603       2,495       1,990  
Securities gains(losses), net
      521       425       10,442       (218 ) 
Other noninterest income
      26,554       28,432       30,267       29,164  
Noninterest expense
      153,573       148,020       146,741       151,718  
Income taxes
      22,627       31,367       33,735       31,068  
Net income
(1)
      84,306       120,721       130,748       128,828  
Per share data:
         
Average shares outstanding (000s):
         
Basic
      142,331       142,207       141,548       140,481  
Diluted
      142,698       142,444       141,961       140,980  
Net income per share:
         
Basic
    $ 0.59     $ 0.85     $ 0.92     $ 0.92  
Diluted
    $ 0.59     $ 0.85     $ 0.92     $ 0.91  
Dividends per share
    $ 0.37     $ 0.37     $ 0.37     $ 0.38  
2024
                              
Interest income
    $ 369,180     $ 374,184     $ 382,723     $ 376,034  
Interest expense
      146,691       148,469       152,467       143,426  
Net interest income
      222,489       225,715       230,256       232,608  
Provision for credit losses
      5,740       5,779       6,943       6,691  
Mortgage banking income
      5,298       3,901       4,544       2,314  
(Dollars in thousands, except per share data)
  
1st
Quarter
 
 
2nd
Quarter
 
 
3rd
Quarter
 
 
4th
Quarter
 
Securities losses, net
      (99 )      (218 )      (6,715 )      (688 ) 
Other noninterest income
      27,013       26,540       34,113       27,692  
Noninterest expense
      140,742       134,774       135,339       134,176  
Income taxes
      21,405       18,878       24,649       26,651  
Net income
(1)
      86,814       96,507       95,267       94,408  
Per share data:
         
Average shares outstanding (000s):
         
Basic
      134,809       135,138       135,158       135,236  
Diluted
      135,121       135,315       135,505       135,732  
Net income per share:
         
Basic
    $ 0.64     $ 0.71     $ 0.70     $ 0.70  
Diluted
    $ 0.64     $ 0.71     $ 0.70     $ 0.69  
Dividends per share
    $ 0.37     $ 0.37     $ 0.37     $ 0.37  
 
 
(1)
For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Nature of Operations
Nature of Operations:
United Bankshares, Inc. (“United”, the “Company”) is a financial holding company headquartered in Charleston, West Virginia. United considers all of West Virginia to be included in its market area. This area includes the five largest West Virginia Metropolitan Statistical Areas (“MSA”): the Parkersburg MSA, the Charleston MSA, the Huntington MSA, the Morgantown MSA and the Wheeling MSA. United serves the Ohio counties of Lawrence, Belmont, Jefferson and the Pennsylvania counties of Washington and Fayette, primarily because of their close proximity to the Ohio and Pennsylvania borders and United banking offices located in those counties in nearby West Virginia. United’s Virginia markets include the Maryland, northern Virginia and Washington, D.C. MSA, the Winchester MSA, the Harrisonburg MSA, and the Charlottesville MSA. Through its acquisition of Carolina Financial, United’s market also includes the Coastal, Midlands, and Upstate regions of South Carolina, including the Charleston (Charleston, Dorchester and Berkeley Counties), Myrtle Beach (Horry and Georgetown Counties), Columbia (Richland and Lexington Counties), and the Upstate (Greenville and Spartanburg Counties) areas as well as areas in North Carolina including Wilmington (New Hanover County), Raleigh-Durham (Durham and Wake Counties), Charlotte-Concord-Gastonia (NC and SC) and the southeastern coastal region of North Carolina (Bladen, Brunswick, Columbus, Cumberland, Duplin and Robeson Counties). Through its acquisition of Community Bankers Trust, United added new markets in Baltimore and Annapolis, Maryland and Lynchburg and Richmond, Virginia as well as the Northern Neck of Virginia. Through its acquisition of Piedmont, United added the Atlanta, Georgia MSA to its market area. United considers all of the above locations to be the primary market areas for its business.
Operating and Reporting Segments
Operating and Reporting Segments
As of December 31, 2025, United’s business activities are confined to one operating segment, United Bank, and one reportable segment, community banking. As a community banking entity, United, through United Bank, offers a full range of products and services through various delivery channels. Included among the banking products and services offered are the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, credit card, commercial, and floor plan loans; and the making of construction and real estate loans as well as the origination and sale of residential mortgages in the secondary market. Also offered are trust and brokerage services, safe deposit boxes, and wire transfers. United’s chief operating decision maker regularly reviews the operating results of United Bank in order to assess performance and make decisions about resource allocation. At December 31, 2023, United had three operating segments: United Bank, George Mason Mortgage, LLC (“George Mason”) and Crescent Mortgage Company (“Crescent”), and two reporting segments: community banking and mortgage banking. However, during the first quarter of 2024, United consolidated the mortgage origination and sales business of George Mason and Crescent with that of United Bank. United previously exited the third-party origination (“TPO”) business during the fourth quarter of 2023.
Basis of Presentation
Basis of Presentation:
The consolidated financial statements and the notes to consolidated financial statements include the accounts of United and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements.
As defined in applicable accounting standards, variable interest entities (“VIEs”) are entities that lack one or more of the characteristics of a voting interest entity. A controlling financial interest in a VIE is present when an enterprise has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and an obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The enterprise with a controlling financial interest, known as the primary beneficiary, consolidates the VIE. United’s wholly owned and indirect wholly owned statutory trust subsidiaries are VIEs for which United is not the primary beneficiary. Accordingly, its accounts are not included in United’s consolidated financial statements.
 
The accounting and reporting policies of United conform with U.S. generally accepted accounting principles. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. To conform to the 2025 presentation, certain reclassifications have been made to prior period amounts, which had no impact on net income, comprehensive income or shareholders’ equity. In the opinion of management, all adjustments necessary for a fair presentation of financial position and results of operations have been made. Such adjustments are of a normal and recurring nature.
The Company has evaluated events and transactions subsequent to December 31, 2025 through the date these financial statements were issued. Based on definitions and requirements of generally accepted accounting principles for “Subsequent Events,” the Company has not identified any events that would require adjustments to, or disclosure in the financial statements.
Cash and Cash Equivalents
Cash and Cash Equivalents:
United considers cash and due from banks, interest-bearing deposits with other banks and federal funds sold as cash and cash equivalents.
Debt securities
Debt securities
: The Company accounts for debt securities in two categories: held to maturity (“HTM”) and available for sale (“AFS”). Premiums and discounts on debt securities are deferred and recognized into income over the contractual life of the asset using the effective interest method.
HTM securities are accounted for at amortized cost, but the Company must have both the positive intent and the ability to hold those securities to maturity. There are very limited circumstances under which securities in the HTM category can be sold without jeopardizing the cost basis of accounting for the remainder of the securities in this category. Substantially all of the Company’s HTM debt securities are issued by state and political subdivisions (municipalities). As of December 31, 2025, United considers its HTM debt securities portfolio to be immaterial.
AFS securities are accounted for at fair value. Gains and losses realized on the sale of these securities are accounted for based on the specific identification method. Unrealized gains and losses for AFS securities are excluded from earnings and reported net of the related tax effect in the accumulated other comprehensive income component of shareholders’ equity.
Allowance for Credit Losses
Allowance for Credit Losses (HTM Debt Securities)
: For HTM debt securities, the Company is required to utilize a current expected credit losses (“CECL”) methodology to estimate expected credit losses. As of December 31, 2025 and 2024, the Company recorded an allowance for credit losses of $16,000 and $18,000, respectively, on its HTM debt securities portfolio.
Allowance for Credit Losses (AFS Debt Securities)
: The impairment model for available-for-sale (“AFS”) debt securities differs from the CECL methodology applied for HTM debt securities because AFS debt securities are measured at fair value rather than amortized cost. Although ASC Topic 326, “Financial Instruments – Credit Losses” replaced the legacy other-than-temporary impairment (“OTTI”) model with a credit loss model, it retained the fundamental nature of the legacy OTTI model. For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more-likely-than-not that it will be required to sell, the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS debt securities where neither of the criteria are met, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the credit rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited to the amount that the fair value is less than the amortized cost basis. Any remaining discount that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. An entity may no longer consider the length of time fair value has been less than amortized cost. Changes in the allowance for credit losses are recorded as a provision (or release) for credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of December 31, 2025, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and therefore, an allowance for credit losses was not recorded. United has the intent and the ability to hold these securities until such time as the value recovers or the securities mature.
Equity securities
Equity securities:
Investments in equity securities with readily determinable fair values are measured at fair value, with changes in the fair value recognized in Net investment securities gains in the Consolidated Statements of Income.
Other investment securities
Other investment securities:
Certain security investments such as Federal Reserve Bank stock and Federal Home Loan Bank stock that do not have readily determinable fair values are accounted for at cost minus impairment, if any. For other security investments that do not have readily determinable fair values (non-marketable), they are accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer, also referred to as the measurement alternative. Any adjustments to the carrying value of these investments are recorded in Other income in the Consolidated Statements of Income.
Securities Purchased Under Resale Agreements and Securities Sold Under Agreements to Repurchase
Securities Purchased Under Resale Agreements and Securities Sold Under Agreements to Repurchase:
Securities purchased under agreements to resell and securities sold under agreements to repurchase are accounted for as collateralized financing transactions. They are recorded at the amounts at which the securities were acquired or sold plus accrued interest. Securities, generally U.S. government and federal agency securities, pledged as collateral under these financing arrangements cannot be repledged or sold, unless replaced, by the secured party. The fair value of the collateral either received from or provided to a third party is continually monitored and additional collateral is obtained or is requested to be returned to United as deemed appropriate.
Loans
Loans:
Loans are reported at the principal amount outstanding, net of unearned income, except loans acquired through transfer (see below). Interest on loans is accrued and credited to operations using methods that produce a level yield on individual principal amounts outstanding. Loan origination and commitment fees and related direct loan origination costs are deferred and amortized as an adjustment of loan yield over the estimated life of the related loan. Loan fees net of costs accreted and included in interest income were $64,392,000, $36,937,000, and $39,509,000, for the
years
of 2025, 2024 and 2023, respectively.
For all loan classes, past due loans and leases are reviewed on a monthly basis to identify loans and leases for nonaccrual status. Generally, when collection in full of the principal and interest is jeopardized, the loan is placed on nonaccrual status. The accrual of interest income on commercial and most consumer loans generally is discontinued when a loan becomes 90 to 120 days past due as to principal or interest. However, regardless of delinquency status, if a loan is fully secured and in the process of collection and resolution of collection is expected in the near term (generally less than 90 days), then the loan will not be placed on nonaccrual status. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and unpaid interest accrued in prior years is charged to the allowance for credit losses. United’s method of income recognition for loans and leases that are classified as nonaccrual is to recognize interest income on a cash basis or apply the cash receipt to principal when the ultimate collectibility of principal is in doubt. Nonaccrual loans and leases will not normally be returned to accrual status unless all past due principal and interest has been paid and the borrower has evidenced their ability to meet the contractual provisions of the note.
Loans Acquired Through Transfer
Loans Acquired Through Transfer:
Acquired loans are recorded at fair value at the date of acquisition based on a discounted cash flow methodology that considers various factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and a discount rate reflecting the Company’s assessment of risk inherent in the cash flow estimates. Certain purchased loans are individually evaluated while certain purchased loans are grouped together according to similar risk characteristics and are treated in the aggregate when applying various valuation techniques. These cash flow evaluations are inherently subjective as they require material estimates, all of which may be susceptible to significant change.
Loans acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At the acquisition date, an estimate of expected credit losses is made for groups of PCD loans with similar risk characteristics and individual PCD loans without similar risk characteristics. This initial allowance for credit losses is allocated to individual PCD loans and added to the purchase price or acquisition date fair values to establish the initial amortized cost basis of the PCD loans. As the initial allowance for credit losses is added to the purchase price, there is no credit loss expense recognized upon acquisition of a PCD loan. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to noncredit factors and results in a discount or premium. Discounts and premiums are recognized through interest income on a level-yield method over the life of the loans.
For loans and leases acquired after the adoption of ASC Topic 326, United will likely take several factors into consideration when determining if loans and leases meet the definition of PCD. ASC Topic 326 lists some, but not all, factors for consideration in the bifurcation of PCD versus non-PCD assets:
 
  •  
Financial assets that are delinquent as of the acquisition date
  •  
Financial assets that have been downgraded since origination
  •  
Financial assets that have been placed on nonaccrual status
For acquired loans not deemed purchased credit deteriorated at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income on a level-yield basis over the lives of the related loans and an allowance for credit losses is established subsequent to the acquisition.
Loans Held for Sale
Loans Held for Sale:
Loans held for sale consist of one-to-four family conforming residential real estate loans originated for sale in the secondary market.
Loans held for sale are recorded under the fair value option at a fair value measured using valuations from investors for loans with similar characteristics adjusted for the Company’s actual sales experience versus the investor’s indicated pricing.
Gains and losses on sale of loans are recorded within income from mortgage banking activities.
Allowance for Loan and Lease Losses
Allowance for Loan and Lease Losses:
The allowance for loan losses is an estimate of the expected credit losses on financial assets measured at amortized cost to present the net amount expected to be collected as of the balance sheet date. Such allowance is based on the credit losses expected to arise over the life of the asset (contractual term). Assets are charged off when United determines that such financial assets are deemed uncollectible or based on regulatory requirements, whichever is earlier. Charge-offs are recognized as a deduction from the allowance for loan losses. Expected recoveries of amounts previously charged-off, not to exceed the aggregate of the amount previously charged-off, are included in determining the necessary reserve at the balance sheet date.
United made a policy election to present the accrued interest receivable balance separately in its consolidated balance sheets from the amortized cost of a loan. United estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level or term as well as reasonable and supportable forecast adjustments for changes in environmental conditions, such as changes in unemployment rates, property values or other relevant factors. A reversion to historical loss data occurs via a straight-line method during the year following the one-year reasonable and supportable forecast period.
United pools its loans and leases based on similar risk characteristics in estimating expected credit losses. United has identified the following portfolio segments and measures the allowance for credit losses using the following methods:
 
  •  
Method: Probability of Default/Loss Given Default (PD/LGD)
 
Ø
  
Commercial Real Estate Owner-Occupied
 
Ø
  
Commercial Real Estate Nonowner-Occupied
 
Ø
  
Commercial Other
  •  
Method: Cohort
 
Ø
  
Residential Real Estate
 
Ø
  
Construction & Land Development
 
Ø
  
Consumer
 
Ø
  
Bankcard
 
Risk characteristics of commercial real estate owner-occupied loans and commercial other loans and leases are similar in that they are normally dependent upon the borrower’s internal cash flow from operations to service debt. Commercial real estate nonowner-occupied loans differ in that cash flow to service debt is normally dependent on external income from third parties for use of the real estate such as rents, leases and room rates. Residential real estate loans are dependent upon individual borrowers who are affected by changes in general economic conditions, demand for housing and resulting residential real estate valuation. Construction and land development loans are impacted mainly by demand whether for new residential housing or for retail, industrial, office and other types of commercial construction within a given area. Consumer loan pool risk characteristics are influenced by general, regional and local economic conditions.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral but may also include other non-performing loans, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. These individually evaluated loans are removed from their respective pools and typically represent collateral dependent loans.
Expected credit losses are estimated over the contractual term of the loans and leases, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless management has a reasonable expectation at the reporting date that the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancelable by United.
At the acquisition date, an initial allowance for expected credit losses for non-PCD loans is estimated and recorded as credit loss expense. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans. For allowance for credit losses under ASC Topic 326 calculation purposes, United includes its acquired loans and leases in their relevant pool unless they meet the criteria for specific review.
Bank Premises and Equipment
Bank Premises and Equipment:
Bank premises and equipment are stated at cost, less allowances for depreciation and amortization. The provision for depreciation is computed principally by the straight-line method over the estimated useful lives of the respective assets. Useful lives range primarily from
three
to 15 years for furniture, fixtures and equipment and
five
to 40 years for buildings and improvements. Leasehold improvements are generally amortized over the lesser of the term of the respective leases or the estimated useful lives of the improvements.
Other Real Estate Owned
Other Real Estate Owned
: At December 31, 2025 and 2024, other real estate owned (“OREO”) included in other assets in the Consolidated Balance Sheets was $8,857,000 and $327,000, respectively. OREO consists of real estate acquired in foreclosure or other settlement of loans. Such assets are carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. Any adjustment to the fair value at the date of transfer is charged against the allowance for loan losses. Any subsequent valuation adjustments as well as any costs relating to operating, holding or disposing of the property are recorded in other expense in the period incurred. At December 31, 2025 and 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $1,868,000 and $795,000, respectively.
Intangible Assets
Intangible Assets:
Intangible assets relating to the estimated fair value of the deposit base of the acquired institutions are being amortized on an accelerated basis over a
one
to ten-year period. Management reviews intangible assets on an annual basis, or sooner if indicators of impairment exist, and evaluates changes in facts and circumstances that may indicate impairment in the carrying value. United incurred amortization expense of $9,363,000, $3,639,000, and $5,116,000, in 2025, 2024, and 2023, respectively, related to all intangible assets.
Goodwill is tested for impairment at least annually or sooner if indicators of impairment exist. United may elect to perform a qualitative analysis to determine whether or not it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. If United elects to bypass this qualitative analysis, or concludes via qualitative analysis that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying value, United may use either a market or income quantitative approach, whichever is more practical, to determine the fair value of the reporting unit to compare to its carrying value. If the estimated fair value of the reporting unit is less than its carrying value, an
 
impairment charge would be recorded for the excess, not to exceed the amount of goodwill allocated to the reporting unit. At each reporting date, the Company considers potential indicators of impairment. United utilized a qualitative approach to test goodwill for impairment as of September 30, 2025. The goodwill impairment test did not identify any indicators of goodwill impairment. As of December 31, 2025, and 2024, total goodwill approximated $
2,018,848,000
and $
1,888,889,000
, respectively.
Mortgage Servicing Rights, Fees and Costs
 
Mortgage Servicing Rights, Fees and Costs:
The Company initially measures servicing assets and liabilities retained related to the sale of residential loans held for sale (“MSRs”) at fair value. For subsequent measurement purposes, the Company measures servicing assets and liabilities using the amortization method.
MSRs are amortized in proportion to, and over the period of, estimated net servicing income. The amortization of the MSRs is analyzed periodically and is adjusted to reflect changes in prepayment rates and other estimates.
The Company evaluates potential impairment of MSRs based on the difference between the carrying amount and current estimated fair value of the servicing rights. In determining impairment, the Company aggregates all servicing rights and stratifies them into tranches based on predominant risk characteristics. If impairment exists, a valuation allowance is established for any excess of amortized cost over the current estimated fair value by a charge to income. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income.
Service fee income is recorded for fees earned for servicing mortgage loans under servicing agreements with the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and certain private investors. The fees are based on a contractual percentage of the outstanding principal balance of the loans serviced and are recorded in noninterest income. Amortization of MSRs
and
mortgage servicing costs are charged to expense when incurred. During the third quarter of 2024, United sold its remaining balance of MSRs.
Accrued Interest Receivable
Accrued Interest Receivable
: In accordance with ASC Topic 326, the Company made the following elections regarding accrued interest receivable (“AIR”):
 
  •  
Presenting accrued interest receivable balances separately from their underlying instruments within the consolidated statements of financial condition.
  •  
Excluding accrued interest receivable that is included in the amortized cost of financing receivables from related disclosure requirements.
  •  
Continuing our policy to write off accrued interest receivable by reversing interest income in cases where the Company does not reasonably expect to receive payment.
  •  
Not measuring an allowance for credit losses for accrued interest receivable due to the Company’s policy of writing off uncollectible accrued interest receivable balances in a timely manner.
Revenue Recognition
Revenue Recognition
: Interest and dividend income, loan fees, fees from trust and brokerage services, deposit services and bankcard fees are recognized and accrued as earned.
Descriptions of our revenue-generating activities that are within the scope of ASC Topic 606, which are presented in our Consolidated Statements of Income as components of Other Income are discussed below. There are no significant judgements relating to the amount and timing of revenue recognition for those revenue streams under the scope of ASC Topic 606.
Fees from Trust Services
Revenue from trust services primarily is comprised of fees earned from the management and administration of trusts and other customer assets. Trust services include custody of assets, investment management, escrow services, and similar fiduciary activities. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts.
 
Fees from Brokerage Services
Revenue from brokerage services are recorded as the income is earned at the time the related service is performed. In return for such services, the Company charges a commission for the sales of various securities products primarily consisting of investment company shares, annuity products, and corporate debt and equity securities, for its selling and administrative efforts. For account supervision, advisory and administrative services, revenue is recognized over a period of time as earned based on customer account balances and activity.
Fees from Deposit Services
Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, ATM activity fees, debit card fees, and other deposit account related fees. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (ATM or debit card activity).
Bankcard Fees and Merchant Discounts
Bankcard fees and merchant discounts are primarily comprised of credit card income and merchant services income. Credit card income is primarily comprised of interchange fees earned whenever the Company’s credit cards are processed through card payment networks such as Visa. Merchant services income mainly represents fees charged to merchants to process their credit card transactions. The Company’s performance obligation for bankcard fees and interchange are largely satisfied, and related revenue recognized at the time services are rendered. Payment is typically received immediately or in the following month.
Advertising Costs
Advertising Costs:
Advertising costs are generally expensed as incurred and included in Other Expense on the Consolidated Statements of Income. Advertising expense was $9,003,000, $8,336,000, and $9,330,000, for the years of 2025, 2024, and 2023, respectively.
Income Taxes
Income Taxes:
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (excluding deferred tax assets and liabilities related to business combinations or components of other comprehensive income). Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more-likely-than-not that all of the deferred tax assets will be realized. Interest and/or penalties related to income taxes are reported as a component of income tax expense.
For uncertain income tax positions, United records a liability based on a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken on a tax return, in order for those tax positions to be recognized in the financial statements.
United files a consolidated income tax return with its subsidiaries. Federal income tax expense or benefit has been allocated to subsidiaries on a separate return basis.
Derivative Financial Instruments
Derivative Financial Instruments:
United accounts for its derivative financial instruments in accordance with ASC Topic 815 which requires all derivative instruments to be carried at fair value on the balance sheet. United has designated certain derivative instruments used to manage interest rate risk as hedge relationships with certain assets, liabilities or cash flows being hedged. Certain derivatives used for interest rate risk management are not designated in a hedge relationship.
Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges.
 
For a fair value hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to the hedged financial instrument. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a fair value hedge are offset in current period earnings either in interest income or interest expense depending on the nature of the hedged financial instrument. For a cash flow hedge, the fair value of the interest rate swap is recognized on the balance sheet as either a freestanding asset or liability with a corresponding adjustment to accumulated other comprehensive income within shareholders’ equity, net of tax. Subsequent adjustments due to changes in the fair value of a derivative that qualifies as a cash flow hedge are offset to accumulated other comprehensive income, net of tax and reclassified into earnings in the same line associated with the forecasted transaction when the forecasted transaction affects earnings. Fair value hedges may be eligible for offset on the consolidated balance sheets because they are subject to master netting arrangements or similar agreements. United has elected not to offset the assets and liabilities subject to such arrangements on the consolidated financial statements.
At inception of a hedge relationship, United formally documents the hedged item, the particular risk management objective, the nature of the risk being hedged, the derivative being used, how effectiveness of the hedge will be assessed and how the ineffectiveness of the hedge will be measured. United also assesses hedge effectiveness at inception and on an ongoing basis using regression analysis. Hedge ineffectiveness is measured by using the change in fair value method. The change in fair value method compares the change in the fair value of the hedging derivative to the change in the fair value of the hedged exposure, attributable to changes in the benchmark rate.
United enters into interest rate lock commitments to finance residential mortgage loans with its customers. These commitments, which contain fixed expiration dates, offer the borrower an interest rate guarantee provided the loan meets underwriting guidelines and closes within the timeframe established by United. Interest rate risk arises on these commitments and subsequently closed loans if interest rates change between the time of the interest rate lock and the delivery of the loan to the investor. Market risk on interest rate lock commitments and mortgage loans held for sale is managed using corresponding forward mortgage loan sales contracts. United is a party to these forward mortgage loan sales contracts to sell loans with servicing released and short sales of mortgage-backed securities. When the interest rate is locked with the borrower, the rate lock commitment, forward sale agreement, and mortgage-backed security position are undesignated derivatives and marked to fair value through earnings. The fair value of the rate lock derivative is measured using valuations from investors for loans with similar characteristics as well as considering the probability of the loan closing (i.e. the “pull-through” rate) with some adjusted for the Company’s actual sales experience versus the investor’s indicated pricing. Fair values of TBA mortgage-backed securities are measured using valuations from investors for mortgage-backed securities with similar characteristics. Income from mortgage banking activities includes the gain recognized for the period presented and associated elements of fair value.
United is subject to the Dodd-Frank Act clearing requirement for eligible derivatives. United has executed and cleared eligible derivatives through the London Clearing House (“LCH”). Variation margin at the LCH is distinguished as settled-to-market and settled daily based on the prior day value, rather than collateralized-to-market. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument.
For derivatives that are not designated in a hedge relationship, changes in the fair value of the derivatives are recognized in earnings in the same period as the change in the fair value.
Cash flows from derivative financial instruments are classified as cash flows from operating activities on the consolidated statements of cash flows.
Off-balance-sheet credit exposures
Off-balance-sheet credit exposures
:
United maintains a reserve for lending-related commitments such as unfunded loan commitments and letters of credit. United estimates expected credit losses over the contractual period in which United is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by United. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Methodology is based on a loss rate approach that starts with the probability of funding based on historical experience. Similar to methodology discussed previously related to the loans and leases receivable portfolio, adjustments are made to the historical losses for current conditions and reasonable and supportable forecast. Adjustments to the reserve for lending-related commitments on off-balance sheet credit exposures is recorded as other expense in the consolidated statements of income. The reserve for lending-related commitments is separately classified on the balance sheet within liabilities. The combined allowance for loan losses and reserve for lending-related commitments is considered the allowance for credit losses on loans and leases.
Stock-Based Compensation
Stock-Based Compensation
: Compensation expense related to stock options, restricted stock awards (“RSA”) and restricted stock units (“RSU”) issued to participants is based upon the fair value of the award at the date of grant. The fair value of stock options is estimated at the date of grant using a binomial lattice option pricing model, while the fair value of RSAs is based upon the stock price at the date of grant. RSU grants could be time-vested RSUs, performance-vested RSUs, or a combination of both. The value of the time-vested RSUs and the performance-vested, based on a performance condition, RSUs awarded is established as the fair market value of the stock at the time of the grant. The value of the performance-vested, based on a market condition, RSUs awarded is estimated through the use of a Monte Carlo valuation model as of the grant date. Compensation expense is recognized on a straight-line basis over the vesting period for all stock-based awards and grants.
Stock-based compensation expense was $13,089,000 in 2025, $12,130,000 in 2024, and $12,463,000 in 2023.
Treasury Stock
Treasury Stock
: United records common stock purchased for treasury at cost. At the date of subsequent reissuance, the treasury stock account is reduced by the cost of such stock using the weighted-average cost method.
Trust Assets and Income
Trust Assets and Income:
Assets held in a fiduciary or agency capacity for customers are not included in the balance sheets since such items are not assets of the company. Trust income is reported on an accrual basis.
Earnings Per Common Share
Earnings Per Common Share:
United calculates earnings per common share in accordance with ASC Topic 260, “Earnings Per Share,” which provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. United has determined that its outstanding non-vested restricted stock awards are participating securities.
Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. Antidilutive stock options and restricted stock outstanding of 563,090, 590,395, and 1,410,389 for the years ended December 31, 2025, 2024 and 2023, respectively, were excluded from the earnings per diluted common share calculation.
The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:
 
 
  
Year Ended December 31
 
(Dollars in thousands, except per share)
  
2025
 
  
2024
 
  
2023
 
Distributed earnings allocated to common stock
    $ 211,141      $ 200,156      $ 195,167  
Undistributed earnings allocated to common stock
      252,428        172,006        170,267  
  
 
 
     
 
 
     
 
 
  
Net earnings allocated to common shareholders
    $ 463,569      $ 372,162      $ 365,434  
  
 
 
     
 
 
     
 
 
  
Average common shares outstanding
      141,497,205        134,947,592        134,505,058  
Dilutive effect of stock compensation
      330,155        277,825        248,762  
  
 
 
     
 
 
     
 
 
  
Average diluted shares outstanding
      141,827,360        135,225,417        134,753,820  
  
 
 
     
 
 
     
 
 
  
Earnings per basic common share
    $ 3.28      $ 2.76      $ 2.72  
Earnings per diluted common share
    $ 3.27      $ 2.75      $ 2.71  
Fair Value Measurements
Fair Value Measurements
: United determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which also clarifies that fair value of certain assets and liabilities is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
ASC Topic 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect United’s market assumptions.
 
The three levels of the fair value hierarchy based on these two types of inputs are as follows:
 
Level 1
  
-
  
Valuation is based on quoted prices in active markets for identical assets and liabilities.
Level 2
  
-
  
Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market.
Level 3
  
- 
  
Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market.
When determining the fair value measurements for assets and liabilities, United looks to active and observable markets to price identical assets or liabilities whenever possible and classifies such items in Level 1. When identical assets and liabilities are not traded in active markets, United looks to market observable data for similar assets and liabilities and classifies such items as Level 2. Nevertheless, certain assets and liabilities are not actively traded in observable markets and United must use alternative valuation techniques using unobservable inputs to determine a fair value and classifies such items as Level 3. For assets and liabilities that are not actively traded, the fair value measurement is based primarily upon estimates that require significant judgment. Therefore, the results may not be realized in an actual sale or immediate settlement of the asset or liability. Additionally, there are inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future values. The level within the fair value hierarchy is based on the lowest level of input that is significant in the fair value measurement.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
:
In December 2025, the Financial Accounting Standards Board (“FASB”) released Accounting Standards Update (“ASU”) 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements.” ASU 2025-11 is intended to improve the navigability of the guidance in ASC 270 and clarify when it applies. Under the amendments, an entity is subject to ASC 270 if it provides “interim financial statements and notes in accordance with GAAP.” The ASU also addresses the form and content of such financial statements, adds lists to ASC 270 of the interim disclosures required by all other Codification topics, and establishes a principle under which an entity must “disclose events since the end of the last annual reporting period that have a material impact on the entity.” ASU 2025-11 is effective for all public business entities for annual periods beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-11 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2025, the FASB released ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” ASU 2025-09 amends certain aspects of the hedge accounting guidance in ASC 815. In addition to addressing stakeholder concerns, the amendments are intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 is effective for all public business entities for annual periods beginning after December 15, 2026, with early adoption permitted. The ASU 2025-09 guidance should be applied prospectively for all hedging relationships as of the date of adoption. Entities must disclose the nature of and reason for the change in accounting principle, as well as the method of applying the change, in both the interim reporting period and the annual reporting period in which they adopt the ASU. The adoption of ASU 2025-09 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2025, the FASB released ASU 2025-08, “Financial Instruments—Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 makes significant changes to the accounting for certain acquired seasoned loans subject to the current expected credit loss model (CECL). No changes were made to the existing models for originated assets, purchased credit deteriorated assets (PCD) or other acquired assets. Under the ASU 2025-08, the initial allowance for credit losses recorded upon the acquisition of loans in scope is recognized as an adjustment to the amortized cost basis of the loan–similar to the PCD model. For these loans, the “day-one” credit loss estimate does not impact earnings immediately but rather is amortized over time as an adjustment to interest income. Subsequent changes in the allowance for credit losses are reported in earnings within credit loss expense. ASU 2025-08 is effective for all business entities for annual periods beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact the adoption of ASU 2025-08 may have on the Company’s financial condition or results of operations for subsequent acquisitions.
 
In September 2025, the FASB released ASU 2025-06, “Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” ASU 2025-06 modernizes the accounting for internal-use software (the existing internal-use software guidance does not contemplate more current methods of software development). The amendments in ASU 2025-06 are limited and focused on the key challenge that entities face in applying FASB ASC 350-40—applying that guidance to software that is developed using an incremental and iterative method. The amendments in ASU 2025-06 apply to all entities subject to the internal-use software guidance in FASB ASC 350-40. The amendments also apply to all entities that account for website development costs in accordance with FASB ASC 350-50, Intangibles— Goodwill and Other—Website Development Costs. ASU 2025-06 is effective for all business entities for annual periods beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-06 is not expected to have a material impact on the Company’s financial condition or results of operations.
In July 2025, the FASB released ASU 2025-05, “Measurement of Credit Losses for Accounts Receivable and Contract Assets.” ASU 2025-05 amends ASC Subtopic 326-20 to provide a practical expedient for all entities and an accounting policy election for all entities, other than public business entities, that elect the practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. ASU 2025-05 addresses concerns from stakeholders that estimating expected credit losses can be costly and complex for such transactions. ASU 2025-05 is effective for all business entities for annual periods beginning after December 15, 2025, with early adoption permitted. The adoption of ASU 2025-05 is not expected to have a material impact on the Company’s financial condition or results of operations.
In May 2025, The FASB has released ASU 2025-03, “Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity.” ASU 2025-03 is based on an EITF Issue and revises the guidance in ASC 805 to clarify that, in determining the accounting acquirer in “a business combination that is effected primarily by exchanging equity interests in which a VIE is acquired,” an entity would be required to consider the factors in ASC 805-10-55-12 through 55-15. Previously, the accounting acquirer in such transactions was always the primary beneficiary. ASU 2025-03 is effective for all business entities for annual periods beginning after December 15, 2026. The adoption of ASU 2025-03 is not expected to have a material impact on the Company’s financial condition or results of operations.
In January 2025, the FASB issued ASU 2025-01, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40).” ASU 2025-01 revised the effective date of ASU 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Entities within the ASU’s scope are permitted to early adopt. The adoption of ASU 2025-01 is not expected to have a material impact on the Company’s financial condition or results of operations but could change certain disclosures in United’s SEC filings.
In November 2024, the FASB issued Accounting Standards Update ASU 2024-04, “Induced Conversions of Convertible Debt Instruments.” ASU 2024-04 provides additional guidance on whether induced conversion or extinguishment accounting should be applied to certain settlements of convertible debt instruments that do not occur in accordance with the instruments’ preexisting terms. ASU 2024-04 requires entities to apply a preexisting contract approach. To qualify for induced conversion accounting under this approach, the inducement offer is required to preserve the form of consideration and result in an amount of consideration that is not less than that issuable pursuant to the preexisting conversion privileges. ASU 2024-04 clarifies how entities should assess the form and amount of consideration when applying this approach. ASU 2024-04 is effective for public business entities for annual periods beginning after December 15, 2025, with early adoption permitted, and can be adopted either on a prospective or retrospective basis. However, the effective date was updated by ASU 2025-01. The adoption of ASU 2024-04 is not expected to have a material impact on the Company’s financial condition or results of operations.
In November 2024, the FASB issued Accounting Standards Update ASU 2024-03, “Disaggregation of Income Statement Expenses.” ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 adds ASC 220-40 to require a footnote disclosure about specific expenses by requiring public business entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities or other types of depletion expenses. Certain other expenses and gains or losses that must be disclosed under existing U.S. GAAP, and that are recorded in a relevant expense caption, must be presented in the same tabular disclosure. ASU
 
2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnote to the financial statements. ASU 2024-03 is effective for public business entities for annual periods beginning after December 15, 2026. Entities are permitted to early adopt the standard and apply retrospectively for annual financial statements that have not yet been issued or made available for issuance. The adoption of ASU 2024-03 is not expected to have a material impact on the Company’s financial condition or results of operations but could change certain disclosures in United’s SEC filings.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures.” ASU 2023-09 enhances annual income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024. Entities are permitted to early adopt the standard for annual financial statements that have not yet been issued or made available for issuance. The adoption of ASU 2023-09 did not have a material impact on the Company’s financial condition or results of operations but did change certain disclosures in United’s SEC filings.
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in ASU 2023-07 improve reportable segment disclosure requirements, mainly through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments will enable investors to better understand an entity’s overall performance and assess potential future cash flows. ASU No. 2023-07 is effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption of the amendment is permitted. The adoption of ASU 2023-07 did not have an impact on the Company’s financial condition or results of operations but changed certain disclosures in United’s SEC filings.
In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative,” which adopts certain disclosure requirements referred by the SEC. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, the amendments will be effective two years later. The adoption of ASU 2023-06 did not have an impact on the Company’s financial condition or results of operations.
In August 2023, the FASB issued ASU 2023-05, “Business Combinations – Joint Venture Formations (Subtopic 805-60).” ASU 2023-05 requires a joint venture to apply a new basis of accounting at its formation date by valuing the net assets contributed at fair value for both business and asset transactions. The value of the net assets in total is then allocated to individual assets and liabilities by applying Topic 805 with certain exceptions. ASU 2023-05 requires certain disclosures to aid the user of the financial statements in understanding the implications of the joint venture formation. ASU 2023-05 is effective for joint venture formations with a formation date on or after January 1, 2025. The adoption of ASU 2023-05 is not expected to have an impact on the Company’s financial condition or results of operations.
In March 2023, the FASB issued Accounting ASU 2023-02, “Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The amendments in this ASU apply to all reporting entities that hold tax equity investments that meet the conditions for and elect to account for them using the proportional amortization method or an investment in a low income housing tax credit (“LIHTC”) structure through a limited liability entity that is not accounted for using the proportional amortization method and to which certain LIHTC-specific guidance removed from Subtopic 323-740 has been applied. Additionally, the disclosure requirements apply to investments that generate income tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method (including investments within that elected program that do not meet the conditions to apply the proportional amortization method). ASU 2023-02 was effective for United on January 1, 2024. The amendments in this update must be applied on either a modified retrospective or a retrospective basis except for LIHTC investments not accounted for using the proportional amortization method. At January 1, 2024, United chose not to elect to account for its tax equity investments using the proportional amortization method.
 
In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848.” ASU 2022-06 extends the period of time financial statement preparers can utilize the reference rate reform relief guidance. In 2020, the FASB issued ASU 2020-04 to provide temporary, optional expedients related to the accounting for contract modifications and hedging transactions as a result of the global markets’ anticipated transition away from the use of LIBOR and other interbank offered rates to alternative reference rates. At the time ASU 2020-04 was issued, the United Kingdom’s Financial Conduct Authority (“FCA”) had established the intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022; 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of LIBOR in the United States would be June 30, 2023, which has now taken effect as intended. Accordingly, ASU 2022-06 defers the expiration date of ASU 848 to December 31, 2024. United implemented a comprehensive project plan to execute the transition of its LIBOR-based financial instruments to alternative reference rates. United utilized the Secured Overnight Financing Rate (“SOFR”) and Prime as the preferred alternatives to LIBOR.
In June 2022, the FASB issued ASU 2022
-
03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. ASU 2022-03 also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain new disclosures for equity securities subject to contractual sale restrictions. ASU 2022-03 was effective for United on January 1, 2024. The adoption of ASU 2022-03 did not have a material impact on the Company’s financial condition or results of operations.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Reconciliation of Numerator and Denominator of Basic Earnings Per Share with that of Diluted Earnings Per Share
The reconciliation of the numerator and denominator of basic earnings per share with that of diluted earnings per share is presented as follows:
 
 
  
Year Ended December 31
 
(Dollars in thousands, except per share)
  
2025
 
  
2024
 
  
2023
 
Distributed earnings allocated to common stock
    $ 211,141      $ 200,156      $ 195,167  
Undistributed earnings allocated to common stock
      252,428        172,006        170,267  
  
 
 
     
 
 
     
 
 
  
Net earnings allocated to common shareholders
    $ 463,569      $ 372,162      $ 365,434  
  
 
 
     
 
 
     
 
 
  
Average common shares outstanding
      141,497,205        134,947,592        134,505,058  
Dilutive effect of stock compensation
      330,155        277,825        248,762  
  
 
 
     
 
 
     
 
 
  
Average diluted shares outstanding
      141,827,360        135,225,417        134,753,820  
  
 
 
     
 
 
     
 
 
  
Earnings per basic common share
    $ 3.28      $ 2.76      $ 2.72  
Earnings per diluted common share
    $ 3.27      $ 2.75      $ 2.71  
v3.25.4
Mergers and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combinations [Abstract]  
Summary of purchase price and the par value of portfolio PCD
The following table provides a reconciliation of the difference between the purchase price and the par value of portfolio PCD loans and leases acquired from Piedmont as of the Acquisition Date:
 
(Dollars in thousands)
  
 
 
Purchase price of PCD loans and leases at acquisition
    $ 409,872  
Allowance for credit losses at acquisition
      17,518  
Non-credit discount at acquisition
      20,906  
  
 
 
  
Par value (UPB) of acquired PCD loans and leases at acquisition
    $ 448,296  
  
 
 
  
Summary of assets and liabilities assumed as of the Piedmont Acquisition Date
The consideration paid for Piedmont’s common equity and the amounts of acquired identifiable assets and liabilities assumed as of the Piedmont Acquisition Date were as follows:
 
(Dollars in thousands)
  
 
 
Purchase price:
  
Value of common shares issued (7,860,831 shares)
    $ 280,946  
Cash for fractional shares
      21  
    
 
 
  
Total purchase price
      280,967  
    
 
 
  
Identifiable assets:
   
Cash and cash equivalents
      77,497  
Investment securities
      94,426  
Net loans and leases
      1,998,350  
Premises and equipment
      23,816  
Operating lease right-of-use assets
      5,124  
BOLI
      40,801  
Core deposit intangible
      32,764  
Other assets
      30,573  
    
 
 
  
Total identifiable assets
    $ 2,303,351  
    
 
 
  
Identifiable liabilities:
   
Deposits
    $ 2,105,810  
Long-term borrowings
      20,000  
Operating lease liabilities
      5,744  
Other liabilities
      20,789  
    
 
 
  
Total identifiable liabilities
      2,152,343  
    
 
 
  
Fair value of net assets acquired including identifiable intangible assets
      151,008  
    
 
 
  
Resulting goodwill
    $ 129,959  
  
 
 
  
Business combination revenue and net income
 
 
  
Proforma

Year Ended

December 31
 
(Dollars in thousands)
  
2025
 
  
2024
 
Total Revenues
(1)
    $ 1,240,758      $ 1,152,368  
Net Income
      452,896        416,376  
(1)
Represents net interest income plus other income
      
v3.25.4
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Estimated Fair Values of Available for Sale Securities
Securities held for indefinite periods of time are classified as available for sale and carried at estimated fair value. The amortized cost and estimated fair values of securities available for sale are summarized as follows.
 
 
  
December 31, 2025
 
 
  
 
 
  
Gross
 
  
Gross
 
  
Allowance
 
  
Estimated
 
(Dollars in thousands)
  
Amortized
 
  
Unrealized
 
  
Unrealized
 
  
For Credit
 
  
Fair
 
 
  
Cost
 
  
Gains
 
  
Losses
 
  
Losses
 
  
Value
 
  
 
 
 
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 283,058      $ 75      $ 1,476      $ 0      $ 281,657  
State and political subdivisions
      572,217        343        55,634        0        516,926  
Residential mortgage-backed securities Agency
      1,467,436        5,517        114,317        0        1,358,636  
Non-agency
      42,792        330        4,237        0        38,885  
Commercial mortgage-backed securities Agency
      416,177        4,948        26,052        0        395,073  
Asset-backed securities
      225,617        18        2,381        0        223,254  
Single issue trust preferred securities
      13,319        0        661        0        12,658  
Other corporate securities
      244,244        0        11,881        0        232,363  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,264,860      $ 11,231      $ 216,639      $ 0      $ 3,059,452  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
December 31, 2024
 
(Dollars in thousands)
  
Amortized
Cost
 
  
Gross
Unrealized
Gains
 
  
Gross
Unrealized
Losses
 
  
Allowance
For Credit
Losses
 
  
Estimated
Fair
Value
 
  
 
 
 
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 248,867      $ 59      $ 3,084      $ 0      $ 245,842  
State and political subdivisions
      574,580        8        79,515        0        495,073  
Residential mortgage-backed securities Agency
      1,226,400        433        167,114        0        1,059,719  
Non-agency
      88,392        262        6,531        0        82,123  
Commercial mortgage-backed securities
               
Agency
      372,646        38        42,698        0        329,986  
Asset-backed securities
      476,863        166        2,047        0        474,982  
Single issue trust preferred securities
      13,296        0        1,377        0        11,919  
Other corporate securities
      281,646        0        21,571        0        260,075  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 3,282,690      $ 966      $ 323,937      $ 0      $ 2,959,719  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Summary of Securities Available for Sale in an Unrealized Loss Position
The following is a summary of securities available for sale which were in an unrealized loss position at December 31, 2025 and December 31, 2024.
 
 
  
Less than 12 months
 
  
12 months or longer
 
  
Total
 
  
 
 
 
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
(Dollars in thousands)
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
 
 
 
December 31, 2025
  
  
  
  
  
  
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 133      $ 1      $ 31,485      $ 1,475      $ 31,618      $ 1,476  
State and political subdivisions
      6,177        543        483,564        55,091        489,741        55,634  
Residential mortgage-backed securities
                  
Agency
      109,848        270        795,183        114,047        905,031        114,317  
Non-agency
      0        0        21,189        4,237        21,189        4,237  
Commercial mortgage-backed securities
                  
Agency
      6,287        4        293,038        26,048        299,325        26,052  
Asset-backed securities
      50,181        154        136,940        2,227        187,121        2,381  
Single issue trust preferred securities
      0        0        12,658        661        12,658        661  
Other corporate securities
      0        0        224,942        11,881        224,942        11,881  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
Total
    $ 172,626      $ 972      $ 1,998,999      $ 215,667      $ 2,171,625      $ 216,639  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
 
  
Less than 12 months
 
  
12 months or longer
 
  
Total
 
  
 
 
 
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
  
Fair
 
  
Unrealized
 
(Dollars in thousands)
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
Value
 
  
Losses
 
  
 
 
 
December 31, 2024
  
  
  
  
  
  
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 1,476      $ 3      $ 42,886      $ 3,081      $ 44,362      $ 3,084  
State and political subdivisions
      3,314        22        479,681        79,493        482,995        79,515  
Residential mortgage-backed securities
                  
Agency
      128,655        1,660        856,448        165,454        985,103        167,114  
Non-agency
      0        0        59,668        6,531        59,668        6,531  
Commercial mortgage-backed securities
                  
Agency
      0        0        319,506        42,698        319,506        42,698  
Asset-backed securities
      83,188        50        215,886        1,997        299,074        2,047  
Single issue trust preferred securities
      0        0        11,919        1,377        11,919        1,377  
Other corporate securities
      2,476        24        252,634        21,547        255,110        21,571  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
Total
    $ 219,109      $ 1,759      $ 2,238,628      $ 322,178      $ 2,457,737      $ 323,937  
  
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
Summary of Gains or Losses on Proceeds from Maturities, Sales and Calls of Available for Sale Securities by Specific Identification Method
The following table shows the proceeds from maturities, sales and calls of available for sale securities and the gross realized gains and losses on sales and calls of those securities that have been included in earnings as a result of any sales and calls. Gains or losses on sales and calls of available for sale securities were recognized by the specific identification method.
 
  
Year Ended
 
(In thousands)
  
2025
 
  
2024
 
  
2023
 
Proceeds from maturities, sales and calls
    $ 2,260,860      $ 2,914,095      $ 952,213  
Gross realized gains
      0        0        0  
Gross realized losses
      0        16,296        7,659  
Summary of Maturities of Debt Securities Held to Maturity by Amortized Cost and Estimated Fair Value
 
(In thousands)
  
Amortized

Cost
 
  
Estimated

Fair Value
 
Due in one year or less
    $ 298,573      $ 298,193  
Due after one year through five years
      527,383        494,204  
Due after five years through ten years
      559,647        521,011  
Due after ten years
      1,879,257        1,746,044  
  
 
 
     
 
 
  
Total
    $ 3,264,860      $ 3,059,452  
  
 
 
     
 
 
  
Summary of Equity Securities
 
 
  
Year Ended
 
(In thousands)
  
December 31, 2025
 
 
December 31, 2024
 
Net gains recognized during the period on equity securities sold
    $ 0     $ 4,602  
Unrealized gains recognized during the period on equity securities still held at
period end
      11,445       4,259  
Unrealized losses recognized during the period on equity securities still held at period end
      (275 )      (285 ) 
  
 
 
    
 
 
  
Net gains recognized during the period
    $ 11,170     $ 8,576  
  
 
 
    
 
 
  
v3.25.4
Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Major Classes of Loans And Leases
(In thousands)
  
December 31, 2025
 
  
December 31, 2024
 
Commercial, financial and agricultural:
  
  
Owner-occupied commercial real estate
    $ 2,145,921      $ 1,590,002  
Nonowner-occupied commercial real estate
      8,343,520        6,939,641  
Other commercial
      3,784,833        3,351,362  
  
 
 
     
 
 
  
Total commercial, financial & agricultural
      14,274,274        11,881,005  
Residential real estate
      6,098,262        5,507,384  
Construction & land development
      3,570,902        3,509,034  
Consumer:
      
Bankcard
      9,686        9,998  
Other consumer
      767,496        773,077  
Less: Unearned income
      (11,498 )       (7,005 ) 
  
 
 
     
 
 
  
Loans and leases, net of unearned income
    $ 24,709,122      $ 21,673,493  
  
 
 
     
 
 
  
v3.25.4
Credit Quality (Tables)
 12 Months Ended
Dec. 31, 2025
Text Block [Abstract]  
Schedule of Age Analysis of its Past Due Loans, Segregated by Class of Loans and Leases
The following table sets forth United’s age analysis of its past due loans and leases, segregated by class of loans and leases:
 
Age Analysis of Past Due Loans and Leases
As of December 31, 2025
 
(In thousands)
  
30-89
Days Past
Due
 
  
90 Days or
more Past
Due
 
  
Total Past
Due
 
  
Current &
Other
 
  
Total

Financing
Receivables
 
  
90 Days or
More Past
Due &
Accruing
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 4,754      $ 1,830      $ 6,584      $ 2,139,337      $ 2,145,921      $ 81  
Nonowner-occupied
      7,598        71,038        78,636        8,264,884        8,343,520        0  
Other commercial
      2,490        6,569        9,059        3,775,774        3,784,833        591  
Residential real estate
      25,026        19,124        44,150        6,054,112        6,098,262        3,701  
Construction & land
development
      1,508        1,301        2,809        3,568,093        3,570,902        0  
Consumer:
                  
Bankcard
      28        54        82        9,604        9,686        54  
Other consumer
      13,661        1,550        15,211        752,285        767,496        547  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 55,065      $ 101,466      $ 156,531      $ 24,564,089      $ 24,720,620      $ 4,974  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
Age Analysis of Past Due Loans and Leases
As of December 31, 2024
 
(In thousands)
  
30-89
Days Past
Due
 
  
90 Days or
more Past
Due
 
  
Total Past
Due
 
  
Current &
Other
 
  
Total

Financing
Receivables
 
  
90 Days or
More

Past Due &
Accruing
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 3,767      $ 1,284      $ 5,051      $ 1,584,951      $ 1,590,002      $ 0  
Nonowner-occupied
      11,931        23,379        35,310        6,904,331        6,939,641        0  
Other commercial
      5,594        19,019        24,613        3,326,749        3,351,362        431  
Residential real estate
      33,783        20,946        54,729        5,452,655        5,507,384        12,429  
Construction & land development
      390        4,265        4,655        3,504,379        3,509,034        1,677  
Consumer:
                  
Bankcard
      63        61        124        9,874        9,998        61  
Other consumer
      28,414        4,446        32,860        740,217        773,077        2,342  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 83,942      $ 73,400      $ 157,342      $ 21,523,156      $ 21,680,498      $ 16,940  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Nonaccrual Loans, Segregated by Class of Loans and Leases
The following table sets forth United’s nonaccrual loans and leases, segregated by class of loans and leases:
 
 
  
At December 31, 2025
 
  
At December 31, 2024
 
(In thousands)
  
Nonaccruals
 
  
With No
Related
Allowance

for Credit
Losses
 
  
Nonaccruals
 
  
With No
Related
Allowance

for Credit
Losses
 
Commercial Real Estate:
  
  
  
  
Owner-occupied
    $ 1,749      $ 1,749      $ 1,284      $ 1,284  
Nonowner-occupied
      71,038        71,038        23,379        8,475  
Other Commercial
      5,978        3,515        18,588        584  
Residential Real Estate
      15,423        15,423        8,517        5,562  
Construction
      1,301        1,301        2,588        2,589  
Consumer:
            
Bankcard
      0        0        0        0  
Other consumer
      1,003        1,003        2,104        2,104  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 96,492      $ 94,029      $ 56,460        $20,598  
  
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Amortized Cost Basis of Loan Modifications Made to Borrowers
 
  
Amortized Cost Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty
 
 
  
For the Year ended December 31, 2025
 
(Dollars in thousands)
  
Term
 Extension 
 
  
Other-

Than-
Insignificant

Payment

Delay
 
  
Interest Rate
Reduction
 
  
Term Extension &
 Interest Rate 
Reduction
 
  
Interest Rate Reduction
& Payment Delay
 
  
% of Total Class of
Financing Receivable
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 8,015      $ 0      $ 0      $ 0      $ 3,466        0.54 % 
Nonowner-
occupied
      7,460        7,160        4,616        0        0        0.23 % 
Other commercial
      0        0        0        1,000        0        0.03 % 
Residential real estate
      0        0        0        0        0        0.00 % 
Construction & land development
      0        0        0        0        0        0.00 % 
Consumer:
                  
Bankcard
      0        0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 15,475      $ 7,160      $ 4,616      $ 1,000      $ 3,466        0.13 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
  
For the Year ended December 31, 2024
 
(Dollars in thousands)
  
Term
 Extension 
 
  
 Interest Rate 
Reduction
 
  
Term
Extension &
Interest Rate
Reduction
 
  
Term
Extension &
Payment
Delay
 
  
% of Total Class of
 Financing Receivable 
 
Commercial real estate:
  
  
  
  
  
Owner-occupied
    $ 0      $ 0      $ 0      $ 0        0.00 % 
Nonowner-occupied
      0        0        0        0        0.00 % 
Other commercial
      0        0        0        0        0.00 % 
Residential real estate
      0        0        0        0        0.00 % 
Construction & land
development
      0        0        0        674        0.02 % 
Consumer:
               
Bankcard
      0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 0      $ 0      $ 0      $ 674        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  

  
 
Amortized Cost Basis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty
 
 
  
For the Year ended December 31, 2024
 
(Dollars in thousands)
  
 
Term
 Extension 
 
 
  
 
Other-
Than-
Insignificant

Payment
Delay


 

 
 
  
 
 Interest Rate 
Reduction
 
 
  
 
Term Extension

& Interest Rate
Reduction
 

 
 
  
 
Term Extension &
Payment Delay
 
 
  
 
% of Total Class of
Financing Receivable
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 445      $ 0      $ 0      $ 0      $ 0        0.03 % 
Nonowner-occupied
      5,765        0        0        0        0        0.08 % 
Other commercial
      0        0        0        2,400        0        0.00 % 
Residential real estate
      185        0        0        0        168        0.06 % 
Construction & land development
      52        0        0        0        0        0.00 % 
Consumer:
                  
Bankcard
      0        0        0        0        0        0.00 % 
Other consumer
      0        0        0        0        0        0.00 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 6,447      $ 0      $ 0      $ 2,400      $ 168        0.04 % 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Amortized Cost Basis Payment Status
 
  
Payment Status (Amortized Cost Basis)
 
 
  
As of December 31, 2025
 
  
As of December 31, 2024
 
(In thousands)
  
Current
 
  
30-89
 Days Past 
Due
 
  
90+
 Days Past 
Due
 
  
Current
 
  
30-89
 Days Past 
Due
 
  
90+
 Days Past 
Due
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 11,481      $ 0      $ 0      $ 445      $ 0      $ 0  
Nonowner-occupied
      14,838        4,398        0        1,366        4,399        0  
Other commercial
      1,000        0        0        2,400        0        0  
Residential real estate
      0        0        0        297        56        0  
Construction & land development
      0        0        0        52        0        0  
Consumer:
                  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 27,319      $ 4,398      $ 0      $ 4,560      $ 4,455      $ 0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Financial Effect of Loan and Lease Modifications
The following table presents the financial effect of loan and lease modifications to borrowers experiencing financial difficulty for the year ended December 31, 2025 and 2024.

 
  
For the Year Ended
 
 
  
December 31, 2025
 
  
December 31, 2024
 
 
  
Weighted-
Average
Interest Rate
Reduction
 
 
Weighted-
Average
Other-Than-

Insignificant
Payment
Delay (in
years)
 
  
Weighted
Average Term
Extension

(in years)
 
  
Weighted-
Average
Interest Rate
Reduction
 
 
Weighted
Average Term
Extension

(in years)
 
Commercial Real Estate:
  
 
  
  
Owner-occupied
        0.50 %        2.4          0.8          0.00 %        0.3  
Nonowner-occupied
      0.50 %      1.6        0.4        0.00 %      0.5  
Other Commercial
      0.00 %      0        0.3        1.00 %      0.3  
Residential Real Estate
      0.00 %      0        0        0.00 %      4.9  
Construction & land
development
      0.00 %      0        0        0.00 %      4.5  
Consumer:
             
Bankcard
      0.00 %      0        0        0.00 %      0  
Other consumer
        0.00 %      0        0        0.00 %        0  
Schedule of Amortized Cost Loans and Leases Pledged As Collateral
The following table presents the amortized cost basis of collateral-dependent loans and leases in which repayment is expected to be derived substantially through the operation or sale of the collateral and where the borrower is experiencing financial difficulty, by class of loans and leases as of December 31, 2025 and December 31, 2024:
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2025
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 0      $ 0      $ 0      $ 3,094      $ 19,366      $ 22,460  
Nonowner-occupied
      6,830        0        0        84,786        38,761        130,377  
Other commercial
      0        4,005        0        4,893        3,174        12,072  
Residential real estate
      6,049        0        0        0        5        6,054  
Construction & land
development
      250        0        849        0        1,170        2,269  
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2025
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Consumer:
  
  
  
  
  
  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 13,129      $ 4,005      $ 849      $ 92,773      $ 62,476      $ 173,232  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
Collateral Dependent Loans and Leases
 
 
  
At December 31, 2024
 
(In thousands)
  
Residential
Property
 
  
Business
Assets
 
  
Land
 
  
Commercial
Property
 
  
Other
 
  
Total
 
Commercial real estate:
  
  
  
  
  
  
Owner-occupied
    $ 5      $ 0      $ 0      $ 3,119      $ 6,465      $ 9,589  
Nonowner-occupied
      7,037        0        0        23,975        2,367        33,379  
Other commercial
      0        15,816        0        5,041        528        21,385  
Residential real estate
      7,348        0        0        0        11        7,359  
Construction & land
development
      0        0        2,492        0        873        3,365  
Consumer:
                  
Bankcard
      0        0        0        0        0        0  
Other consumer
      0        0        0        0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 14,390      $ 15,816      $ 2,492      $ 32,135      $ 10,244      $ 75,077  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Schedule of Risk Category of Loans by Class of Loans and Leases
Based on the most recent analysis performed, the risk category of loans and leases as well as charge-offs and recoveries by class of loans is as follows. Loans originated in any year may be renewals of existing loans and not necessarily new loans.
 
Commercial Real Estate – Owner-occupied
 
  
Revolving

loans

converted to
term loans
 
  
 
 
 
  
Term Loans
 
 
Revolving loans
amortized cost
basis
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
Prior
 
Internal Risk Grade:
  
  
  
  
  
  
 
  
  
Pass
    $ 353,313      $ 362,198      $ 196,733      $ 301,328      $ 278,290      $ 555,204     $ 51,711      $ 0      $ 2,098,777  
Special Mention
      0        0        4,842        0        0        3,727       2,695        0        11,264  
Substandard
      0        246        4,027        3,402        0        19,671       8,220        116        35,682  
Doubtful
      0        0        0        0        0        198       0        0        198  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 353,313      $ 362,444      $ 205,602      $ 304,730      $ 278,290      $ 578,800     $ 62,626      $ 116      $ 2,145,921  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        0        0        0        0        (228 )      0        0        (228 ) 
Current-period recoveries
      0        0        0        14        0        304       0        0        318  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net recoveries
    $ 0      $ 0      $ 0      $ 14      $ 0      $ 76     $ 0      $ 0      $ 90  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
 
  
Term Loans
 
 
Revolving loans
amortized cost
basis
 
  
Revolving

loans

converted to
term loans
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2024
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
2020
 
  
Prior
 
Internal Risk Grade:
  
  
  
  
  
  
 
  
  
Pass
    $ 236,547      $ 132,095      $ 243,103      $ 225,152      $ 205,461      $ 467,417     $ 29,900      $ 0      $ 1,539,675  
Special Mention
      0        0        0        0        0        15,199       8,545        0        23,744  
Substandard
      247        0        3,493        0        307        21,744       445        121        26,357  
Doubtful
      0        0        0        0        0        226       0        0        226  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 236,794      $ 132,095      $ 246,596      $ 225,152      $ 205,768      $ 504,586     $ 38,890      $ 121      $ 1,590,002  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-
offs
      0        0        0        0        0        (116 )      0        0        (116 ) 
Current-period recoveries
      0        0        15        0        0        1,168       0        0        1,183  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
recoveries
    $
 
 
 0      $
 
 
 
 0      $
 
 
 
 
 15      $
 
 
 
 0      $
 
 
 
 0      $
 
 
 1,052     $ 0      $ 0      $ 1,067  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Commercial Real Estate – Nonowner-occupied
 
  
 
 
  
 
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
 
 
  
 
 
  
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
  
Revolving

loans

converted to

term loans
 
  
Total
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
Prior
 
Internal Risk Grade:
  
      
  
      
  
      
  
      
  
      
  
      
 
      
  
      
  
      
Pass
   $ 1,628,785     $ 856,235     $ 760,043     $ 1,917,759     $ 1,165,300     $ 1,397,941     $ 143,406     $ 0     $ 7,869,469  
Special Mention
     1,983       0       7,058       51,603       113,708       120,213       0       0       294,565  
Substandard
     0       0       5,431       48,950       5,323       97,607       22,175       0       179,486  
Doubtful
     0       0       0       0       0       0       0       0       0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Total
   $ 1,630,768     $ 856,235     $ 772,532     $ 2,018,312     $ 1,284,331     $ 1,615,761     $ 165,581     $ 0     $ 8,343,520  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
     
 
 
     
 
 
  
Current-period
charge-offs
     0       0       0       0       0       (35,798 )      0       0       (35,798 ) 
Current-period recoveries
     0       0       0       0       0       160       0       0       160  
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Current-period net
charge-offs
   $        0            0     $        0     $        0     $        0     $ (35,638 )    $       0     $    0
  $ (35,638 ) 
 
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
  
Revolving

loans and
leases converted
to term loans
 
  
 
 
As of December 31, 2024
  
2024
 
  
2023
 
  
2022
 
  
2021
 
  
2020
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                         
Pass
    $ 741,996      $ 485,437      $ 1,623,423      $ 1,294,232      $ 639,143     $ 1,584,833     $ 160,243      $ 78      $ 6,529,385  
Special Mention
      0        0        8,465        82,240        29,940       210,912       0        0        331,557  
Substandard
      0        0        4,085        4,020        143       48,633       21,818        0        78,699  
Doubtful
      0        0        0        0        0       0       0        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 741,996      $ 485,437      $ 1,635,973      $ 1,380,492      $ 669,226     $ 1,844,378     $ 182,061      $ 78      $ 6,939,641  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        0        0        0        (751 )      (1,830 )      0        0        (2,581 ) 
Current-period recoveries
      0        0        0        0        0       200       0        0        200  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
(charge-offs) recoveries
    $ 0      $ 0      $ 0      $ 0      $ (751 )    $ (1,630 )    $ 0      $ 0      $ (2,381 ) 
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Other commercial
(In thousands)
  
Term Loans and leases

Origination Year
 
 
Revolving
loans and leases
amortized cost

basis
 
 
Revolving

loans and leases

converted to

term loans
 
  
 
 
As of December 31, 2025
  
2025
 
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                     
Pass
    $ 628,597      $ 373,700     $ 472,334     $ 214,442     $ 324,424     $ 600,824     $ 1,117,879     $ 47      $ 3,732,247  
Special Mention
      5        431       117       949       1,128       9,012       458       0        12,100  
Substandard
      0        1,689       2,853       6,225       6,926       17,469       5,324       0        40,486  
Doubtful
      0        0       0       0       0       0       0       0        0  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 628,602      $ 375,820     $ 475,304     $ 221,616     $ 332,478     $ 627,305     $ 1,123,661     $ 47      $ 3,784,833  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (48 )      (150 )      (229 )      (1,625 )      (2,459 )      (913 )      0        (5,424 ) 
Current-period recoveries
      0        0       27       75       32       2,111       64       0        2,309  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net charge- offs
    $ 0      $ (48 )    $ (123 )    $ (154 )    $ (1,593 )    $ (348 )    $ (849 )    $ 0      $ (3,115 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
 
  
Term Loans and leases
 
 
Revolving loans
and leases
amortized cost
basis
 
 
Revolving

loans and leases

converted to
term loans
 
  
Total
 
(In thousands)
  
Origination Year
 
As of December 31, 2024
  
2024
 
  
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
Internal Risk Grade:
                     
Pass
    $ 403,641      $ 505,947     $ 378,072     $ 394,412     $ 164,671     $ 519,488     $ 912,293     $ 0      $ 3,278,524  
Special Mention
      81        36       1,129       339       251       18,941       4,652       0        25,429  
Substandard
      206        419       18,927       7,029       835       11,262       8,706       0        47,384  
Doubtful
      0        0       0       0       0       25       0       0        25  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 403,928      $ 506,402     $ 398,128     $ 401,780     $ 165,757     $ 549,716     $ 925,651     $ 0      $ 3,351,362  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (464 )      (252 )      (156 )      (148 )      (1,352 )      (1,217 )      0        (3,589 ) 
Current-period recoveries
      10        67       9       45       0       1,512       7       0        1,650  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net
recoveries (charge- offs)
    $ 10      $ (397 )    $ (243 )    $ (111 )    $ (148 )    $ 160     $ (1,210 )    $ 0      $ (1,939 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
Residential Real Estate
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
basis
     
Revolving

loans

converted to
term loans
         
As of December 31, 2025
   
2025
     
2024
    
2023
    
2022
    
2021
    
Prior
     
Total
  
Internal Risk Grade:
                      
Pass
    $ 746,665      $ 427,238     $ 784,994     $ 1,608,513     $ 822,932     $ 1,148,481     $ 533,509      $ 160      $ 6,072,492  
Special Mention
      0        476       104       0       0       4,048       637        0        5,265  
Substandard
      0        407       107       0       7,800       11,984       207        0        20,505  
Doubtful
      0        0       0       0       0       0       0        0        0  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Total
    $ 746,665      $ 428,121     $ 785,205     $ 1,608,513     $ 830,732     $ 1,164,513     $ 534,353      $ 160      $ 6,098,262  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period charge-offs
      0        (67 )      (205 )      (189 )      (6 )      (532 )      0        0        (999 ) 
Current-period recoveries
      0        0       0       0       2       701       1        0        704  
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
Current-period net
(charge- offs) recoveries
    $ 0      $ (67 )    $ (205 )    $ (189 )    $ (4 )    $ 169     $ 1      $ 0      $ (295 ) 
  
 
 
     
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
     
 
 
  
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving
loans
amortized
cost basis
 
 
Revolving

loans

converted to
term loans
 
  
 
 
As of December 31, 2024
  
2024
 
  
2023
 
 
2022
 
 
2021
 
  
2020
 
  
Prior
 
  
Total
 
Internal Risk Grade:
  
  
 
 
  
  
 
 
  
Pass
    $ 407,430      $ 820,059     $ 1,617,541     $ 827,395      $ 396,094      $ 971,226     $ 447,363     $ 2,467      $ 5,489,575  
Special Mention
      382        107       0       0        0        2,466       1,326       0        4,281  
Substandard
      0        0       0       508        0        12,430       507       83        13,528  
Doubtful
      0        0       0       0        0        0       0       0        0  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 407,812      $ 820,166     $ 1,617,541     $ 827,903      $ 396,094      $ 986,122     $ 449,196     $ 2,550      $ 5,507,384  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        (7 )      (2 )      0        0        (359 )      (113 )      0        (481 ) 
Current-period recoveries
      0        0       0       5        0        489       1       0        495  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net (charge- offs) recoveries
    $ 0      $ (7 )    $ (2 )    $ 5      $ 0      $ 130     $ (112 )    $ 0      $ 14  
  
 
 
     
 
 
    
 
 
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
     
 
 
  
 
Construction and Land Development
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost

basis
 
 
Revolving

loans

converted to
term loans
 
  
 
 
As of December 31, 2025
  
2025
 
  
2024
 
  
2023
 
 
2022
 
  
2021
 
 
Prior
 
  
Total
 
Internal Risk Grade:
                       
Pass
    $ 1,031,215      $ 992,846      $ 693,752     $ 401,811      $ 65,460     $ 27,716     $ 305,750     $ 0      $ 3,518,550  
Special Mention
      0        2,827        30,509       0        4,208       8,281       0       0        45,825  
Substandard
      541        0        4,468       34        0       1,484       0       0        6,527  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 1,031,756      $ 995,673      $ 728,729     $ 401,845      $ 69,668     $ 37,481     $ 305,750     $ 0      $ 3,570,902  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        (141 )      0        (103 )      (164 )      0       0        (408 ) 
Current-period recoveries
      0        0        0       0        0       225       0       0        225  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net (charge-offs) recoveries
    $ 0      $ 0      $ (141 )    $ 0      $ (103 )    $ 61     $ 0     $ 0      $ (183 ) 
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
basis
    
Revolving
loans
converted to
term loans
         
As of December 31, 2024
   
2024
     
2023
     
2022
    
2021
     
2020
    
Prior
     
Total
  
Internal Risk Grade:
                       
Pass
    $ 628,186      $ 837,662      $ 1,253,480     $ 426,662      $ 18,559     $ 18,542     $ 302,302     $ 0      $ 3,485,393  
Special Mention
      0        0        1,455       18,356        57       153       0       0        20,021  
Substandard
      0        0        0       200        1,607       1,813       0       0        3,620  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 628,186      $ 837,662      $ 1,254,935     $ 445,218      $ 20,223     $ 20,508     $ 302,302     $ 0      $ 3,509,034  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        0       0        0       (29 )      0       0        (29 ) 
Current-period recoveries
      0        0        0       0        0       319       0       0        319  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net recoveries
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 290     $ 0     $ 0      $ 290  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Bankcard
  
(In thousands)
   
Term Loans

Origination Year
    
Revolving loans
amortized cost
    
Revolving
loans
converted to
         
As of December 31, 2025
   
2025
     
2024
     
2023
    
2022
     
2021
    
Prior
    
basis
    
term loans
     
Total
  
Internal Risk Grade:
                       
Pass
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ 9,603     $ 0      $ 9,603  
Special Mention
      0        0        0       0        0       0       28       0        28  
Substandard
      0        0        0       0        0       0       55       0        55  
Doubtful
      0        0        0       0        0       0       0       0        0  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Total
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ 9,686     $ 0      $ 9,686  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period charge-offs
      0        0        0       0        0       0       (320 )      0        (320 ) 
Current-period recoveries
      0        0        0       0        0       0       55       0        55  
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Current-period net charge-offs
    $ 0      $ 0      $ 0     $ 0      $ 0     $ 0     $ (265 )    $ 0      $ (265 ) 
  
 
 
     
 
 
     
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
 
Revolving loans
converted to
 
  
 
 
As of December 31, 2024
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
 
basis
 
 
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
  
Pass
  
$
0
 
 
$
  
0
 
 
 $
  
0
 
 
 $
  
0
 
 
 $
  
0
 
 
 $
 
0
 
 
$
9,874
 
 
$
0
 
  
$
 
9,874
 
Special Mention
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
63
 
 
 
0
 
  
 
63
 
Substandard
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
61
 
 
 
0
 
  
 
61
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Total
  
$
0
 
 
$
0
 
 
$
 
0
 
 
$
 
 
0
 
 
$
 
 
0
 
 
$
 
 
0
 
 
$
9,998
 
 
$
0
 
  
$
9,998
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period charge-offs
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
(431
) 
 
 
0
 
  
 
(431
) 
Current-period recoveries
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
19
 
 
 
0
 
  
 
19
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
0
 
 
$
(412
) 
 
$
0
 
  
$
(412
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Other Consumer
  
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
 
Revolving loans
converted to
 
  
 
 
As of December 31, 2025
  
2025
 
 
2024
 
 
2023
 
 
2022
 
 
2021
 
 
Prior
 
 
basis
 
 
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
  
Pass
  
$
346,057
 
 
$
90,623
 
 
$
79,353
 
 
$
157,220
 
 
$
57,987
 
 
$
18,929
 
 
$
2,104
 
 
$
0
 
  
$
752,273
 
Special Mention
  
 
682
 
 
 
446
 
 
 
821
 
 
 
6,741
 
 
 
3,794
 
 
 
1,171
 
 
 
13
 
 
 
0
 
  
 
13,668
 
Substandard
  
 
221
 
 
 
57
 
 
 
88
 
 
 
617
 
 
 
464
 
 
 
101
 
 
 
7
 
 
 
0
 
  
 
1,555
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Total
  
$
346,960
 
 
$
91,126
 
 
$
  
80,262
 
 
$
164,578
 
 
$
62,245
 
 
$
20,201
 
 
$
2,124
 
 
$
0
 
  
$
767,496
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period charge-offs
  
 
(15
) 
 
 
(185
) 
 
 
(507
) 
 
 
(4,547
) 
 
 
(1,698
) 
 
 
(783
) 
 
 
0
 
 
 
0
 
  
 
(7,735
) 
Current-period recoveries
  
 
0
 
 
 
7
 
 
 
78
 
 
 
642
 
 
 
273
 
 
 
429
 
 
 
0
 
 
 
0
 
  
 
1,429
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
(15
) 
 
$
(178
) 
 
$
(429
) 
 
$
(3,905
) 
 
$
(1,425
) 
 
$
(354
) 
 
$
0
 
 
$
0
 
  
$
(6,306
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
  
Term Loans

Origination Year
 
 
Revolving loans
amortized cost
 
  
Revolving
loans
converted to
 
  
 
 
As of December 31, 2024
  
2024
 
 
2023
 
 
2022
 
 
2021
 
 
2020
 
 
Prior
 
 
basis
 
  
term loans
 
  
Total
 
Internal Risk Grade:
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Pass
  
$
139,908
 
 
$
131,108
 
 
$
276,041
 
 
$
118,478
 
 
$
49,553
 
 
$
22,913
 
 
$
2,215
 
  
$
0
 
  
$
740,216
 
Special Mention
  
 
495
 
 
 
1,805
 
 
 
13,462
 
 
 
8,485
 
 
 
2,704
 
 
 
1,440
 
 
 
23
 
  
 
0
 
  
 
28,414
 
Substandard
  
 
76
 
 
 
182
 
 
 
2,454
 
 
 
1,106
 
 
 
358
 
 
 
261
 
 
 
10
 
  
 
0
 
  
 
4,447
 
Doubtful
  
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
 
 
0
 
  
 
0
 
  
 
0
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Total
  
$
140,479
 
 
$
133,095
 
 
$
291,957
 
 
$
128,069
 
 
$
52,615
 
 
$
24,614
 
 
$
2,248
 
  
$
0
 
  
$
773,077
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Current-period charge-offs
  
 
(28
) 
 
 
(206
) 
 
 
(5,724
) 
 
 
(3,096
) 
 
 
(869
) 
 
 
(380
) 
 
 
0
 
  
 
0
 
  
 
(10,303
) 
Current-period recoveries
  
 
0
 
 
 
21
 
 
 
402
 
 
 
241
 
 
 
125
 
 
 
330
 
 
 
0
 
  
 
0
 
  
 
1,119
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
Current-period net charge-offs
  
$
(28
) 
 
$
(185
) 
 
$
(5,322
) 
 
$
(2,855
) 
 
$
(744
) 
 
$
(50
) 
 
$
0
 
  
$
0
 
  
$
(9,184
) 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
 
v3.25.4
Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule Of Credit Losses Related To Accrued Interest Receivables and Written Off
 
 
 
 
 
 
 
 
 
 
 
  
Accrued Interest Receivable
 
(In thousands)
  
At December 31, 2025
 
  
At December 31, 2024
 
Commercial Real Estate:
  
      
  
      
Owner-occupied
    $ 6,922      $ 4,700  
Nonowner-occupied
      37,086        30,582  
Other Commercial
      11,822        10,512  
Residential Real Estate
      21,643        21,662  
Construction
      16,046        17,174  
Consumer:
      
Bankcard
      0        0  
Other consumer
      2,441        2,432  
  
 
 
     
 
 
  
Total
    $ 95,960      $ 87,062  
  
 
 
     
 
 
  
Schedule of Accrued Interest Receivables Written off by Reversing Interest
The following table represents the accrued interest receivables written off by reversing interest income for the year ended December 31, 2025 and December 31, 2024:
 
 
 
 
 
 
 
 
 
 
 
  
Accrued Interest Receivables Written Off
by Reversing Interest Income
 
(In thousands)
  
Year Ended
 
 
  
 2025 
 
  
 2024 
 
Commercial Real Estate:
  
      
  
      
Owner-occupied
    $ 90      $ 186  
Nonowner-occupied
      1,481        853  
Other Commercial
      82        736  
Residential Real Estate
      577        232  
Construction
      267        23  
Consumer:
      
Bankcard
      0        0  
Other consumer
      241        345  
  
 
 
     
 
 
  
Total
    $ 2,738      $ 2,375  
  
 
 
     
 
 
  
Schedule of Allowance for Loan Losses and Carrying Amount of Loans
A progression of the allowance for loan losses, by portfolio segment, for the periods indicated is summarized as follows:

Allowance for Loan and Lease Losses and Carrying Amount of Loans and Leases
For the Year Ended December 31, 2025
 
 
  
Commercial Real

Estate
 
 
Other
Commercial
 
 
Residential
Real
Estate
 
 
Construction
& Land
Development
 
 
Bankcard
 
 
Other
Consumer
 
 
Total
 
(In thousands)
  
Owner-

occupied
 
 
Nonowner-
occupied
 
Allowance for Loan and Lease Losses:
  
 
 
 
 
 
 
Beginning balance
   $ 11,852     $ 74,522     $ 65,105     $ 46,373     $ 63,621     $ 891     $ 9,480     $ 271,844  
Initial allowance for PCD loans (acquired during the period)
     795       11,059       872       208       4,584       0       0       17,518  
Charge-offs
     (228 )      (35,798 )      (5,424 )      (999 )      (408 )      (320 )      (7,735 )      (50,912 ) 
Recoveries
     318       160       2,309       704       225       55       1,429       5,200  
Provision
     827       46,773       (1,133 )     7,663       (10,055 )     263       9,530       53,868  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Ending balance
   $ 13,564     $ 96,716     $ 61,729     $ 53,949     $ 57,967     $ 889     $ 12,704     $ 297,518  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
Allowance for Loan and Lease Losses and Carrying Amount of Loans and Leases
For the Year Ended December 31, 2024
 
(In thousands)
  
Commercial Real
Estate
 
 
Other
Commercial
 
 
Residential
Real
Estate
 
 
Construction
& Land
Development
 
 
Bankcard
 
 
Other
Consumer
 
 
Total
 
  
Owner-
occupied
 
 
Nonowner-
occupied
 
Allowance for Loan and Lease Losses:
  
 
 
 
 
 
 
Beginning balance
   $ 11,895     $ 57,935     $ 75,007     $ 41,167     $ 59,913     $ 810     $ 12,510     $ 259,237  
Charge-offs
     (116 )      (2,581 )      (3,589 )      (481 )      (29 )      (431 )      (10,303 )      (17,530 ) 
Recoveries
     1,183       200       1,650       495       319       19       1,119       4,985  
Provision
     (1,110 )     18,968       (7,963 )     5,192       3,418       493       6,154       25,152  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Ending balance
   $ 11,852     $ 74,522     $ 65,105     $ 46,373     $ 63,621     $ 891     $ 9,480     $ 271,844  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
A progression of the allowance for credit losses, which includes the allowance for loan losses and the reserve for lending-related commitments, for the periods presented is summarized as follows:
Progression of Allowance for Credit Losses Including Allowance for Loan Losses and Reserve for Lending-Related Commitment
 
    
Year Ended December 31
  
(In thousands)
   
2025
     
2024
     
2023
  
Balance of allowance for loan and lease losses at beginning of period
    $ 271,844      $ 259,237      $ 234,746  
Initial allowance for acquired PCD loans
      17,518        0        0  
Gross charge-offs
      (50,912 )       (17,530 )       (11,304 ) 
Recoveries
      5,200        4,985        4,641  
  
 
 
     
 
 
     
 
 
  
Net charge-offs
      (45,712 )       (12,545 )       (6,663 ) 
Provision for loan and lease losses
      53,868        25,152        31,154  
  
 
 
     
 
 
     
 
 
  
Balance of allowance for loan and lease losses at end of period
    $ 297,518      $ 271,844      $ 259,237  
Reserve for lending-related commitments
      35,075        34,911        44,706  
  
 
 
     
 
 
     
 
 
  
Balance of allowance for credit losses at end of period
    $ 332,593      $ 306,755      $ 303,943  
  
 
 
     
 
 
     
 
 
  
v3.25.4
Bank Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Bank Premises and Equipment
Bank premises and equipment are summarized as follows:
 
    
December 31
  
(In thousands)
   
2025
     
2024
  
Land
    $ 69,573      $ 62,506  
Buildings and improvements
      234,963        206,281  
Leasehold improvements
      45,727        43,971  
Furniture, fixtures and equipment
      123,063        109,510  
  
 
 
     
 
 
  
     473,326        422,268  
Less allowance for depreciation and amortization
      (264,495 )       (236,137 ) 
  
 
 
     
 
 
  
Bank premises and equipment
    $ 208,831      $ 186,131  
  
 
 
     
 
 
  
Depreciation expense was $16,813,000, $15,709,000, and $17,191,000 for years ending December 31, 2025, 2024 and 2023, respectively, while amortization expense was $328,000, $310,000 and $310,000 for the years ended December 31, 2025, 2024 and 2023, respectively.
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Components of Lease Expense
The components of lease expense were as follows:

 
  
 
  
Year Ended
 
  
Year Ended
 
(In thousands)
  
Classification
  
December 31,
2025
 
  
December 31,
2024
 
Operating lease cost
    Net occupancy expense    $ 20,061      $ 20,367  
Sublease income
    Net occupancy expense      (213 )       (184 ) 
     
 
 
     
 
 
  
Net lease cost
       $ 19,848      $ 20,183  
     
 
 
     
 
 
  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:

(In thousands)
  
Classification
  
December 31,
2025
 
  
December 31,
2024
 
Operating lease right-of-use assets
   
Operating lease right-of-use assets
    $ 89,312     $ 81,742  
Operating lease liabilities
    Operating lease liabilities    $
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 95,392     $ 86,771  
Other Information Related to Leases
Other information related to leases was as follows:
 
 
  
December 31,
2025
 
Weighted-average remaining lease term:
  
Operating leases
      7.59 years  
Weighted-average discount rate:
   
Operating leases
      3.62 % 
Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows:
 
    
Year Ended
  
(In thousands)
   
December 31, 2025
     
December 31, 2024
  
Cash paid for amounts in the measurement of lease liabilities:
      
Operating cash flows from operating leases
    $ 19,739      $ 19,900  
ROU assets obtained in the exchange for lease liabilities
      18,673        8,896  
Maturities of Lease Liabilities by Year
Maturities of lease liabilities by year and in the aggregate, under operating leases with initial or remaining terms of one year or more, for years subsequent to December 31, 2025, consists of the following:
 
Year
   
Amount
  
(Dollars in thousands)
  
2026
    $ 18,633  
2027
      17,451  
2028
      15,279  
2029
      13,147  
2030
      10,861  
Thereafter
      34,981  
  
 
 
  
Total lease payments
      110,352  
Less: imputed interest
      (14,960 ) 
  
 
 
  
Total
    $ 95,392  
  
 
 
  
v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets
The following is a summary of intangible assets subject to amortization and those not subject to amortization:
 
 
 
December 31, 2025
 
 
 
Community Banking
 
 
Total
 
(In thousands)
 
Gross
Carrying
Amount
 
 
Accumulated
Amortization
 
 
Gross
Carrying
Amount
 
 
Accumulated
Amortization
 
Amortized intangible assets:
 
 
 
 
Core deposit intangible assets
    $ 137,929      ($ 105,662 )    $ 137,929      ($ 105,662 ) 
 
 
 
    
 
 
    
 
 
    
 
 
  
Goodwill not subject to
 
amortization
    $ 2,018,848        $ 2,018,848     
  
 
 
       
 
 
     
 
 
  
December 31, 2024
 
 
  
Community Banking
 
 
Total
 
(In thousands)
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
Amortized intangible assets:
  
  
 
  
Core deposit intangible assets
    $ 105,165      ($ 96,299 )    $ 105,165      ($ 96,299 ) 
  
 
 
     
 
 
    
 
 
     
Goodwill not subject to
 
amortization
    $ 1,888,889        $ 1,888,889     
  
 
 
       
 
 
     
Schedule of Reconciliation of Goodwill
The following table provides a reconciliation of goodwill:
 
(In thousands)
  
Community
Banking
 
  
Total
 
Goodwill at December 31, 2024
    $ 1,888,889      $ 1,888,889  
Addition to goodwill from Piedmont acquisition
      129,959        129,959  
  
 
 
     
 
 
  
Goodwill at December 31, 2025
    $ 2,018,848      $ 2,018,848  
  
 
 
     
 
 
  
Schedule of Anticipated Amortization Expense
The following table sets forth the anticipated amortization expense for intangible assets for the years subsequent to 2025:
 
Year
   
Amount
  
(Dollars in thousands)
   
2026
    $ 7,351  
2027
      5,060  
2028
      4,003  
2029
      3,518  
2030
      3,086  
2031 and thereafter
      9,249  
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Summary of Book Value of Deposits
The book value of deposits consisted of the following:
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Noninterest-bearing accounts
    $ 6,573,630      $ 6,135,413  
Interest-bearing transaction accounts
      6,657,771        5,936,925  
Regular savings
      1,265,334        1,250,295  
Interest-bearing money market accounts
      7,835,796        7,056,897  
Time deposits under $100,000
      1,363,881        1,172,462  
Time deposits over $100,000
      3,364,527        2,409,867  
  
 
 
     
 
 
  
Total deposits
    $ 27,060,939      $ 23,961,859  
  
 
 
     
 
 
  
v3.25.4
Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Funds Purchased and Securities Sold Under Agreements to Repurchase and Weighted-Average Interest Rates
At December 31, 2025 and 2024, short-term borrowings were as follows:
 
 
 
 
 
 
 
 
 
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Federal funds purchased
    $ 0      $ 0  
Securities sold under agreements to repurchase
      198,573        176,090  
  
 
 
     
 
 
  
Total short-term borrowings
    $ 198,573      $ 176,090  
  
 
 
     
 
 
  
v3.25.4
Long-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
FHLB Advances and Related Weighted Average Interest Rates
At December 31, 2025 and 2024, FHLB advances and the related weighted-average interest rates were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
2025
 
 
2024
 
(Dollars in thousands)
  
 Amount 
 
  
Weighted-
Average
Contractual
Rate
 
 
Weighted-
Average
Effective
Rate
 
 
 Amount 
 
  
Weighted-
Average
Contractual
Rate
 
 
Weighted-
Average
Effective
Rate
 
FHLB advances
    $ 250,000        4.05 %      0.59 %    $ 260,199        4.62 %      0.63 % 
Information Related to Statutory Trusts
Information related to United’s statutory trusts is presented in the table below:
 
(Dollars in thousands)
Description
   
Issuance Date
   
Amount of
Capital
Securities
Issued
    
Stated Interest Rate
(1)
   
Maturity Date
United Statutory Trust III
    December 17, 2003    $ 20,000     3-month CME Term SOFR + 2.85%    December 17, 2033
United Statutory Trust IV
    December 19, 2003    $ 25,000     3-month CME Term SOFR + 2.85%    January 23, 2034
United Statutory Trust V
    July 12, 2007    $ 50,000     3-month CME Term SOFR + 1.55%    October 1, 2037
United Statutory Trust VI
    September 20, 2007    $ 30,000     3-month CME Term SOFR + 1.30%    December 15, 2037
Premier Statutory Trust II
    September 25, 2003    $ 6,000     3-month CME Term SOFR + 3.10%    October 8, 2033
Premier Statutory Trust III
    May 16, 2005    $ 8,000     3-month CME Term SOFR + 1.74%    June 15, 2035
Premier Statutory Trust IV
    June 20, 2006    $ 14,000     3-month CME Term SOFR + 1.55%    September 23, 2036
Premier Statutory Trust V
    December 14, 2006    $ 10,000     3-month CME Term SOFR + 1.61%    March 1, 2037
Centra Statutory Trust I
    September 20, 2004    $ 10,000     3-month CME Term SOFR + 2.29%    September 20, 2034
Centra Statutory Trust II
    June 15, 2006    $ 10,000     3-month CME Term SOFR + 1.65%    July 7, 2036
VCBI Capital Trust II
    December 19, 2002    $ 15,000     6-month CME Term SOFR + 3.30%    December 19, 2032
VCBI Capital Trust III
    December 20, 2005    $ 25,000     3-month CME Term SOFR + 1.42%    February 23, 2036
Cardinal Statutory Trust I
    July 27, 2004    $ 20,000     3-month CME Term SOFR + 2.40%    September 15, 2034
UFBC Capital Trust I
    December 30, 2004    $ 5,000     3-month CME Term SOFR + 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 CME Term SOFR + 3.05%    January 7, 2034
Greer Capital Trust I
    October 12, 2004    $ 6,000     3-month CME Term SOFR + 2.20%    October 18, 2034
Greer Capital Trust II
    December 28, 2006    $ 5,000     3-month CME Term SOFR + 1.73%    January 30, 2037
First South Preferred Trust I
    September 26, 2003    $ 10,000     3-month CME Term SOFR + 2.95%    September 30, 2033
BOE Statutory Trust I
    December 12, 2003    $ 4,000     3-month CME Term SOFR + 3.00%    December 12, 2033
 
  (1)
The 3-month CME Term SOFR rates have a spread adjustment of 0.26161% and the 6-month CME Term SOFR rate has a spread adjustment of 0.42826%.
Debentures and Related Weighted Average Interest Rates
At December 31, 2025 and 2024, the Debentures and their related weighted-average interest rates were as follows:
 
    
2025
    
2024
  
(Dollars in thousands)
   
Amount
     
Weighted-
Average
Rate
    
Amount
     
Weighted-
Average
Rate
  
United Statutory Trust III
     $ 20,619        6.82 %     $  20,619        7.46 % 
United Statutory Trust IV
      25,774        6.95 %      25,774        7.70 % 
United Statutory Trust V
      51,547        5.80 %      51,547        6.40 % 
United Statutory Trust VI
      30,928        5.28 %      30,928        5.92 % 
Premier Statutory Trust II
      6,186        7.27 %      6,186        8.02 % 
Premier Statutory Trust III
      8,248        5.72 %      8,248        6.95 % 
Premier Statutory Trust IV
      14,433        5.50 %      14,433        6.15 % 
Premier Statutory Trust V
      10,310        5.66 %      10,310        6.37 % 
Centra Statutory Trust I
      10,000        6.25 %      10,000        6.91 % 
Centra Statutory Trust II
      10,000        5.82 %      10,000        6.57 % 
Virginia Commerce Trust II
      13,857        7.34 %      13,627        8.31 % 
Virginia Commerce Trust III
      20,425        5.56 %      19,899        6.20 % 
Cardinal Statutory Trust I
      17,209        6.38 %      16,812        7.02 % 
UFBC Capital Trust I
      4,182        6.08 %      4,076        6.72 % 
Carolina Financial Capital Trust I
      5,058        7.25 %      5,046        8.00 % 
Carolina Financial Capital Trust II
      9,706        7.22 %      9,641        7.97 % 
Greer Capital Trust I
      5,492        6.35 %      5,419        7.09 % 
Greer Capital Trust II
      4,360        5.83 %      4,275        6.58 % 
First South Preferred Trust I
      9,656        6.90 %      9,587        7.54 % 
BOE Statutory Trust I
      3,827        6.93 %      3,794        7.59 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Total
    $ 281,817        6.19 %    $ 280,221        6.88 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Schedule of Maturities of Long-term Borrowings
At December 31, 2025, the scheduled maturities of long-term borrowings were as follows:
 
Year
   
Amount
  
(Dollars in thousands)
  
2026
     $ 250,000  
2027
      0  
2028
      0  
2029
      0  
2030
      0  
2031 and thereafter
      281,817  
  
 
 
  
Total
    $  531,817  
  
 
 
  
v3.25.4
Other Expense (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other Expense
The following details certain items of other expense for the periods indicated:
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
  
2024
 
  
2023
 
Legal, consulting & other professional services
    $  29,444      $  24,330      $  25,604  
Franchise & other taxes not on income
      18,345        16,916        16,202  
Expense for reserve on lending-related commitments
      164        (9,795 )       (1,483 ) 
Automated Teller Machine (“ATM”) expenses
      13,485        11,885        10,914  
Amortization of income tax credits
      17,886        15,277        15,238  
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Tax Provisions Included in the Consolidated Statements of Income
The income tax provisions included in the consolidated statements of income are summarized as follows:
 
    
Year Ended December 31
  
(In thousands)
   
2025
     
2024
     
2023
  
Current expense:
         
Federal
    $ 85,133      $ 77,347      $ 84,441  
State and local
      17,019        17,604        15,972  
  
 
 
     
 
 
     
 
 
  
Total current income tax expense
      102,152        94,951        100,413  
Deferred expense (benefit):
         
Federal
      11,764        334        (2,053 ) 
State and local
      4,881        (3,702 )       (868 ) 
  
 
 
     
 
 
     
 
 
  
Total deferred income tax expense (benefit)
      16,645        (3,368 )       (2,921 ) 
  
 
 
     
 
 
     
 
 
  
Total income tax expense:
    $ 118,797      $ 91,583      $ 97,492  
  
 
 
     
 
 
     
 
 
  
Reconciliation of Income Tax Expense to the Amount Computed by Applying the Statutory Federal Income Tax Rate
The following is a reconciliation of income tax expense to the amount computed by applying the statutory federal income tax rate to income before income taxes:
 
 
  
Year Ended December 31
 
(Dollars in thousands)
  
2025
 
 
2024
 
 
2023
 
 
  
Amount
 
 
%
 
 
Amount
 
 
%
 
 
Amount
 
 
%
 
Tax on income before taxes at statutory federal rate
     $  122,514       21.0 %     $  97,562       21.0 %     $  97,399       21.0 % 
State and local income taxes net of federal tax benefits
(1)
      17,137       2.9       13,591       2.9       11,847       2.6  
Domestic Federal
             
Tax Credits
             
Low income housing
      (19,030 )      (3.3 )      (15,814 )      (3.4 )      (13,557 )      (2.9 ) 
Other
      (1,303 )      (0.2 )      (706 )      (0.1 )      (1,639 )     (0.4 ) 
Nontaxable and nondeductible items
      (2,301 )      (0.4 )      (2,439 )      (0.5 )      (2,974 )      (0.6 ) 
Other
      1,780       0.4       (611 )      (0.2 )      6,416       1.3  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total income tax expense
     $ 118,797       20.4 %     $ 91,583       19.7 %     $ 97,492       21.0 % 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(1)
State taxes in West Virginia and Maryland made up the majority (greater than 50 percent) of the tax effect in this category.
Components of United's Deferred Tax Assets and Liabilities Significant components of United’s deferred tax assets and liabilities (included in other assets in the Consolidated Balance Sheets) at December 31, 2025 and 2024 are as follows:
 
(In thousands)
  
2025
 
  
2024
 
Deferred tax assets:
      
Allowance for credit losses
    $ 79,490      $ 73,315  
Accrued benefits payable
      16,514        20,256  
Other accrued liabilities
      603        1,857  
Unrealized loss on securities available for sale
      49,091        77,189  
Other real estate owned
      122        127  
Lease liabilities under operating leases
      22,799        20,738  
 
(In thousands)
  
2025
 
  
2024
 
Net operating loss carryforwards
      2,724        0  
Purchase accounting intangibles
      1,159        0  
Income tax credit carryforward
      1,406        4,415  
Deferred mortgage points
      1,465        425  
  
 
 
     
 
 
  
Total deferred tax assets
      175,373        198,322  
  
 
 
     
 
 
  
Deferred tax liabilities:
      
Premises and equipment
      8,937        8,307  
Right-of-use assets under operating leases
      21,345        19,536  
Pension plan accruals
      13,050        10,743  
Derivatives
      7,367        10,487  
Purchase accounting intangibles
      0        6,626  
Other
      1,584        1,063  
  
 
 
     
 
 
  
Total deferred tax liabilities
      52,283        56,762  
  
 
 
     
 
 
  
Net deferred tax assets
    $ 123,090      $ 141,560  
  
 
 
     
 
 
  
Reconciliation of the Total Amounts of Unrecognized Tax Benefits
Below is a reconciliation of the total amounts of unrecognized tax benefits:
 
 
  
December 31
 
(In thousands)
  
2025
 
  
2024
 
Unrecognized tax benefits at beginning of year
     $ 2,144       $ 2,599  
Increase in unrecognized tax benefits as a result of tax positions taken during the current period
      956        323  
Decreases in the unrecognized tax benefits as a result of a lapse of the applicable statute of limitations
      (2,144 )       (778 ) 
  
 
 
     
 
 
  
Unrecognized tax benefits at end of year
     $ 956       $ 2,144  
  
 
 
     
 
 
  
Disaggregation Of Income Taxes Paid Net Of Refunds [Table Text Block]
The following presents a disaggregation of income taxes paid, net of refunds:
 
 
  
Year Ended December 31
 
(Dollars in thousands)
  
2025
 
 
2024
 
 
2023
 
Federal
    $ 89,800     $ 70,407     $ 89,500  
State and local
      24,663
(1)
 		     15,814
(2)
 		     15,960
(3)
 
  
 
 
    
 
 
    
 
 
  
Total income taxes paid, net of refunds
(4)
    $ 114,463     $ 86,221     $ 105,460  
  
 
 
    
 
 
    
 
 
  

(1)
For the year ended December 31, 2025, income taxes paid to West Virginia of $9,000 and Maryland of $5,950 exceeded 5% of total income taxes paid.
(2)
For the year ended December 31, 2024, income taxes paid to Maryland of $6,150 exceeded 5% of total income taxes paid.
(3)
For the year ended December 31, 2023, income taxes paid to West Virginia of $6,851 exceeded 5% of total income taxes paid.
(4)
Income taxes paid, net of refunds includes amounts paid to third parties for purchases of transferable tax credits of $11,680 in 2025 and $1,636 in 2024.
v3.25.4
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Net Periodic Pension Cost Net consolidated periodic pension cost included the following components:
 
(Dollars in thousands)
  
Year Ended December 31,
 
 
  
2025
 
 
2024
 
 
2023
 
Service cost
     $ 1,293      $ 1,387     $ 1,440  
Interest cost
      7,427       6,967       7,134  
Expected return on plan assets
      (11,046 )      (10,659 )      (11,762 ) 
Amortization of net actuarial loss
      69       2,315       3,347  
  
 
 
    
 
 
    
 
 
  
Net periodic pension cost (income)
     $ (2,257 )     $ 10     $ 159  
  
 
 
    
 
 
    
 
 
  
Weighted-Average Assumptions:
       
Discount rate
      5.76 %      5.07 %      5.26 % 
Expected return on assets
      6.15 %      6.25 %      7.25 % 
Rate of compensation increase (prior to age 40)
      6.00 %      5.00 %      5.00 % 
Rate if compensation increase (ages 40-49)
      5.50 %     
n/a
       n/a  
Rate of compensation increase (ages 40-54)
      n/a       4.00 %      4.00 % 
Rate if compensation increase (ages 50-54)
      5.00 %      n/a       n/a  
Rate of compensation increase (ages 55-64)
      4.00 %      n/a       n/a  
Rate of compensation increase (otherwise)
      3.00 %      3.50 %      3.50 % 
Schedule of Amounts Related to Plan recognized as Component of Other Comprehensive Income
Amounts related to the Plan recognized as a component of other comprehensive income were as follows:
 
(In thousands)
  
Year Ended December 31,
 
 
  
 2025 
 
  
 2024 
 
  
 2023 
 
Net actuarial gain
     $ (7,089 )      $ (12,348 )      $ (2,635 ) 
Amortization of actuarial loss
      (69 )       (2,315 )       (3,347 ) 
  
 
 
     
 
 
     
 
 
  
Total recognized in other comprehensive income
     $ (7,158 )      $ (14,663 )      $ (5,982 ) 
  
 
 
     
 
 
     
 
 
  
Reconciliation of the Beginning and Ending Balances of the Projected Benefit Obligation and the Fair Value of Plan Assets and the Accumulated Benefit Obligation
The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2025 and 2024 and the accumulated benefit obligation at December 31, 2025 and 2024 are as follows:
 
(Dollars in thousands)
  
December 31,
 
 
  
 2025 
 
  
 2024 
 
Change in Projected Benefit Obligation
  
  
Projected Benefit Obligation at the Beginning of the Year
    $   137,847       $   143,306  
Service Cost
      1,293        1,387  
Interest Cost
      7,427        6,967  
Actuarial Loss (Gain)
      3,088        (7,506 ) 
Benefits Paid
      (6,877 )       (6,307 ) 
  
 
 
     
 
 
  
Projected Benefit Obligation at the End of the Year
     $ 142,778       $ 137,847  
Accumulated Benefit Obligation at the End of the Year
     $ 130,900       $ 125,429  
Change in Plan Assets
      
Fair Value of Plan Assets at the Beginning of the Year
     $ 183,035       $ 173,840  
Actual Return on Plan Assets
      21,223        15,502  
Benefits Paid
      (6,877 )       (6,307 ) 
  
 
 
     
 
 
  
Fair Value of Plan Assets at End of Year
     $ 197,381       $ 183,035  
  
 
 
     
 
 
  
 
(Dollars in thousands)
  
December 31,
 
 
  
2025
 
 
2024
 
Net Amount Recognized
  
 
Funded Status
    $ 54,603     $ 45,187  
Unrecognized Actuarial Net Loss
      10,725       17,884  
  
 
 
    
 
 
  
Net Amount Recognized
    $ 65,328     $ 63,071  
  
 
 
    
 
 
  
Weighted-Average Assumptions at the End of the Year
     
Discount Rate
      5.66 %      5.76 % 
Rate of compensation Increase (prior to age 40)
      6.00 %      6.00 % 
Rate of compensation Increase (ages 40-49)
      5.50 %      5.50 % 
Rate of compensation Increase (ages 50-54)
      5.00 %      5.00 % 
Rate of compensation Increase (ages 55-64)
      4.00 %      4.00 % 
Rate of compensation Increase (otherwise)
      3.00 %      3.00 % 
Asset Allocation for the Defined Benefit Pension Plan as of the Measurement Date, by Asset Category
Asset allocation for the defined benefit pension plan as of the measurement date, by asset category, is as follows:
 
Plan Assets
  
Target Allocation
2026
 
 
Allowable
Allocation Range
 
 
Percentage of
Plan Assets at
 
 
  
 
 
 
 
 
 
December 31,
2025
 
  
December 31,
2024
 
Equity Securities
      47 %     
20-70
 %      54%        56%  
Fixed Income Securities
      43 %     
20-50
 %      42%        41%  
Other
      10 %     
0-25
 %      4%        3%  
      
 
 
     
 
 
  
Total
          100%        100%  
      
 
 
     
 
 
  
Expected Benefit Payments
At December 31, 2025, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows:

Year
  
 Amount 
 
(Dollars in thousands)
 
2026
    $ 7,433  
2027
      7,786  
2028
      8,265  
2029
      8,648  
2030
      9,000  
2031 through 2035
      48,551  
Balances of the Plan Assets, by Fair Value Hierarchy Level
The following tables present the balances of the plan assets, by fair value hierarchy level, as of December 31, 2025 and 2024:

 
  
 
 
  
Fair Value Measurements at December 31, 2025 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2025
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Cash and Cash equivalents
     $ 6,505       $ 0       $ 6,505       $ 0  
Fixed Income Debt Securities:
            
U.S. Government and agencies
      29,982        0        29,982        0  
Mortgage backed & other asset-backed
securities
      7,705        0        7,705        0  
Municipal obligations
      631        0        631        0  
Corporate bonds
      9,300        0        9,300        0  
Fixed Income Mutual Funds & Exchange-Traded Funds:
            
General
      36,667        36,667        0        0  
Equity Securities:
            
Common stock
      20,187        20,187        0        0  
Equity Mutual Funds:
            
Domestic equity large cap
      38,185        38,185        0        0  
Domestic equity small cap
      13,273        13,273        0        0  
Alternative equity
      17,500        17,500        
International emerging equity
      4,304        4,304        0        0  
International equity developed
      13,142        13,142        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $   197,381      $   143,258      $ 54,123      $   0  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
 
  
 
 
  
Fair Value Measurements at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Cash and Cash equivalents
     $ 5,829       $ 5,829       $ 0       $ 0  
Fixed Income Debt Securities:
            
U.S. Government and agencies
      24,874        24,874        0        0  
Mortgage backed securities
      6,588        6,588        0        0  
Collateralized mortgage obligations
      623        623      0    0
 
  
 
 
  
Fair Value Measurements at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Municipal obligations
      707        707        0        0  
Corporate bonds
      8,394        8,394        0        0  
Fixed Income Mutual Funds:
                                    
General
      33,537        33,537        0        0  
Equity Securities:
            
Common stock
      19,539        19,539        0        0  
Equity Mutual Funds:
            
Domestic equity large cap
      37,990        37,990        0        0  
Domestic equity small cap
      13,332        13,332        0        0  
Alternative equity
      16,145        16,145        
International emerging equity
      3,993        3,993        0        0  
International equity developed
      11,484        11,484        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total
     $ 183,035       $   183,035       $   0       $   0  
  
 
 
     
 
 
     
 
 
     
 
 
  
v3.25.4
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Plans
A summary of activity under United’s stock option plans as of December 31, 2025, and the changes during the year of 2025 are presented below:
 
 
  
Year ended December 31, 2025
 
 
  
 
 
 
 
 
  
Weighted Average
 
(Dollars in thousands, except per share amounts)
  
 
 
 
Aggregate
Intrinsic
 
  
Remaining
Contractual
 
  
 
 
  
Exercise

Price
 
 
  
Shares
 
 
Value
 
  
Term (Yrs.)
 
Outstanding at January 1, 2025
      1,049,668           $ 36.29  
Exercised
      (36,612 )            26.07  
Forfeited or expired
      (103,540 )            35.62  
  
 
 
          
 
 
  
Outstanding at December 31, 2025
      909,516      $  3,057        2.6      $  36.78  
  
 
 
    
 
 
     
 
 
     
 
 
  
Exercisable at December 31, 2025
      909,516      $  3,057        2.6      $  36.78  
  
 
 
    
 
 
     
 
 
     
 
 
  
Changes to United's Restricted Common Shares
The following summarizes the changes to United’s restricted common shares for the year ended December 31, 2025:

 
  
Number of
Shares
 
  
Weighted-Average

Grant Date Fair
Value Per Share
Nonvested at January 1, 2025
      310,027       $ 36.58
Granted
      184,515         36.77
Vested
      (152,433 )        36.94
Forfeited
      (16,682 )        36.54
  
 
 
     
 
Outstanding at December 31, 2025
      325,427       $ 36.52
  
 
 
     
 
Status of United's Nonvested Stock Option Awards
The following table summarizes the status of United’s nonvested RSUs during the year ended December 31, 2025:

 
  
Shares
 
  
Weighted-Average

Grant Date Fair
Value Per Share
Nonvested at January 1, 2025
      490,119       $ 35.41
Granted
      256,385         35.35
Vested
      (148,597 )        35.81
Forfeited or expired
      (2,422 )        36.26
  
 
 
     
 
Nonvested at December 31, 2025
      595,485       $ 35.28
  
 
 
     
 
v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
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 December 31, 2025 and December 31, 2024.

 
  
Asset Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
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      $ 9,466      $ 316        Other assets      $ 10,770      $ 644  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total Fair Value Hedges
       $ 9,466      $ 316         $ 10,770      $ 644  
Cash Flow Hedges:
                  
Interest rate swap contracts (hedging FHLB borrowings)
      Other assets      $ 250,000      $ 0        Other assets      $ 250,000      $ 0  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total Cash Flow Hedges
       $  250,000      $ 0         $ 250,000      $ 0  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives designated as hedging instruments
       $  259,466      $  316         $  260,770      $  644  
     
 
 
     
 
 
        
 
 
     
 
 
  
 
 
  
Asset Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
Derivatives not designated as hedging instruments
  
  
  
  
  
  
Forward loan sales commitments
      Other assets     
$
 3,981     
$
 15        Other assets     
$
 0     
$
 0  
TBA mortgage-backed securities
      Other assets        0        0        Other assets        54,826        278  
Interest rate lock commitments
      Other assets        23,046        458        Other assets        21,553        339  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives not designated as hedging instruments
      
$
 27,027      $  473        
$
 76,379     
$
 617  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total asset derivatives
      
$
 286,493      $ 789        
$
 337,149     
$
 1,261  
     
 
 
     
 
 
        
 
 
     
 
 
  
 
  
Liability Derivatives
 
 
  
December 31, 2025
 
  
December 31, 2024
 
(In thousands)
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
  
Balance

Sheet

Location
 
  
Notional

Amount
 
  
Fair

Value
 
Derivatives not designated as hedging instruments
  
  
  
  
  
  
TBA mortgage-backed securities
      Other liabilities      $ 33,882      $ 70        Other liabilities      $ 0      $ 0  
Forward loan sales commitments
      Other liabilities        0        0        Other liabilities        3,186        20  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total derivatives not designated as hedging instruments
       $  33,882      $  70         $  3,186      $  20  
     
 
 
     
 
 
        
 
 
     
 
 
  
Total liability derivatives
       $  33,882      $  70         $ 3,186      $ 20  
     
 
 
     
 
 
        
 
 
     
 
 
  
Summary of Carrying Amount Hedged Assets/(Liabilities)
The following table represents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value accounting relationship as of December 31, 2025 and December 31, 2024.
 
 
 
 
 
December 31, 2025
 
(In thousands)
Derivatives in Fair Value
Hedging Relationships
 
Location in the Statement of
Condition
 
Carrying Amount of
the Hedged Assets/
(Liabilities)
 
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities)
 
 
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining for
any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued
 
Interest rate swaps
  
Loans, net of unearned income
    $ 9,466    $  (331)      $   0  
 
 
 
 
December 31, 2024
 
(In thousands)
Derivatives in Fair Value
Hedging Relationships
 
Location in the Statement
of Condition
 
Carrying Amount of
the Hedged

Assets/(Liabilities)
 
 
Cumulative Amount
of Fair Value Hedging
Adjustment Included
in the Carrying
Amount of the Hedged
Assets/(Liabilities)
 
 
Cumulative Amount of
Fair Value Hedging
Adjustment Remaining
for any Hedged Assets/
(Liabilities) for which
Hedge Accounting has
been Discontinued
 
Interest rate swaps
  
Loans, net of unearned income
    $  10,770  
 $  (657)      $   0  
Schedule of Derivative Financial Instruments on Statement of Income
The effect of United’s derivative financial instruments on its Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023 is presented as follows:
                             
 
 
 
 
Year Ended
 
(In thousands)
 
Income Statement
Location
 
December 31,
2025
 
 
December 31,
2024
 
 
December 31,
2023
 
Derivatives in hedging relationships
Cash Flow Hedges:
 
  
 
      
 
      
 
      
Interest rate swap contracts
 
Interest on long-term
borrowings 
(1)
 
$
9,718
 
 
$
20,932
 
 
$
23,574
 
Fair Value Hedges:
 
  
 
      
 
      
 
      
Interest rate swap contracts
 
Interest and fees on loans and leases
 
$
(2
) 
 
$
8
 
 
$
117
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
Total derivatives in hedging relationships
 
  
 
$
9,716
 
 
$
20,940
 
 
$
23,691
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
  
 
      
 
      
 
      
Forward loan sales commitments
   Income from Mortgage Banking Activities     35       (114 )      (127 ) 
TBA mortgage-backed securities
   Income from Mortgage Banking Activities     (348 )      956       (611 ) 
Interest rate lock commitments
   Income from Mortgage Banking Activities     (11 )      (489 )      (240 ) 
   
 
 
    
 
 
    
 
 
  
Total derivatives not designated as hedging instruments
   $ (324 )    $ 353     $ (978 ) 
   
 
 
    
 
 
    
 
 
  
Total derivatives
   $ 9,392     $ 21,293     $ 22,713  
 
 
 
    
 
 
    
 
 
  
 
(1)
Decreases or increases in interest expense are expressed as positive or negative amounts, respectively, based on their impact to net income.
v3.25.4
Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Components of Total Comprehensive Income
The changes in accumulated other comprehensive income are as follows:
 
 
  
For the Years Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Net Income
   
 $
  464,603
 
  
 $
  372,996
 
  
 $
  366,313
 
Available for sale (“AFS”) securities:
       
Change in net unrealized gains on AFS securities arising during the period
      117,563       24,251       98,627  
Related income tax effect
      (28,097 )     (5,840 )      (22,980 ) 
Net reclassification adjustment for losses included in net income
      0       16,296       7,659  
Related income tax effect
      0       (3,852 )      (1,785 ) 
  
 
 
    
 
 
    
 
 
  
     89,466       30,855       81,521  
  
 
 
    
 
 
    
 
 
  
Net effect of AFS securities on other comprehensive income
   
 
89,466
 
  
 
30,855
 
  
 
81,521
 
Cash flow hedge derivatives:
       
Unrealized (loss) gain on cash flow hedge before reclassification to interest expense
      (3,340 )      12,744       6,548  
Related income tax effect
      798       (2,987 )      (1,526 ) 
Net reclassification adjustment for gains included in net income
      (9,718 )      (20,932 )      (23,574 ) 
Related income tax effect
      2,323       4,926       5,493  
  
 
 
    
 
 
    
 
 
  
Net effect of cash flow hedge derivatives on other comprehensive
income
   
 
(9,937
) 
  
 
(6,249
) 
  
 
(13,059
) 
Defined benefit pension plan:
       
Net actuarial gain during the period
      7,089       12,348       2,635  
Related income tax expense
      (1,694 )      (2,951 )      (613 ) 
Amortization of net actuarial loss recognized in net income
      69       2,315       3,347  
Related income tax effect
      (17 )      (540 )      (780 ) 
  
 
 
    
 
 
    
 
 
  
Net effect of change in defined benefit pension plan on other comprehensive
income
   
 
5,447
 
  
 
11,172
 
  
 
4,589
 
  
 
 
    
 
 
    
 
 
  
Total change in other comprehensive income, net of tax
   
 
84,976
 
  
 
35,778
 
  
 
73,051
 
  
 
 
    
 
 
    
 
 
  
Total Comprehensive Income
   
$
549,579
 
  
$
408,774
 
  
$
439,364
 
  
 
 
    
 
 
    
 
 
  
Components of Accumulated Other Comprehensive Income
The components of accumulated other comprehensive income for the year ended December 31, 2025 are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in Accumulated Other Comprehensive Income (AOCI) by Component
(a)
For the Year Ended December 31, 2025
 
(Dollars in thousands)
  
Unrealized
Gains/
Losses on
AFS
Securities
 
  
Unrealized
Gains/
Losses on
Cash Flow
Hedges
 
 
Defined
Benefit
Pension

Items
 
  
Total
 
Balance at January 1, 2025
    $  (247,964)      $  33,706     $ (9,645)      $ (223,903)  
Other comprehensive income (loss) before reclassification
      89,466        (2,542 )      0        86,924  
Amounts reclassified from accumulated other comprehensive income
      0        (7,395 )      5,447        (1,948 ) 
  
 
 
     
 
 
    
 
 
     
 
 
  
Net current-period other comprehensive income (loss), net of tax
      89,466        (9,937 )      5,447        84,976  
  
 
 
     
 
 
    
 
 
     
 
 
  
Balance at December 31, 2025
    $ (158,498)      $ 23,769     $ (4,198)      $ (138,927)  
  
 
 
     
 
 
    
 
 
     
 
 
  
(a) All amounts are net-of-tax. United has adopted the portfolio approach for purposes of releasing residual tax effects within AOCI.
 
Reclassifications Out of Accumulated Other Comprehensive Income
Reclassifications out of Accumulated Other Comprehensive Income (AOCI)
For the Year Ended December 31, 2025
  
(In thousands)
 
Details about AOCI Components
   
Amount

Reclassified

from AOCI
    
Affected Line Item in the Statement Where

Net Income is Presented
  
Cash flow hedge:
     
Net reclassification adjustment for gains included in net income
    $ (9,718 )      Interest expense  
  
 
 
    
     (9,718 )      Total before tax  
Related income tax effect
      2,323       Tax expense  
  
 
 
    
     (7,395 )      Net of tax  
  
 
 
    
Pension plan:
     
Recognized net actuarial gain
      7,089  (a)   
Amortization of net actuarial loss
      69  (b)   
  
 
 
    
     7,158       Total before tax  
Related income tax effect
      (1,711 )      Tax expense  
  
 
 
    
     5,447       Net of tax  
  
 
 
    
Total reclassifications for the period
    $ (1,948 )   
  
 
 
    
 
(a)
This AOCI component is included in the computation of changes in plan assets (see Note O, Employee Benefit Plans)
(b)
This AOCI component is included in the computation of net periodic pension cost (see Note O, Employee Benefit Plans)
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheets
 
 
 
 
 
 
 
 
 
 
Condensed
Balance
Sheets
  
 
 
 
 
 
 
  
December 31
 
(In thousands)
  
2025
 
 
2024
 
Assets
  
      
 
      
Cash and due from banks
    $ 186,446     $ 249,515  
Securities available for sale
      5,253       5,663  
Securities held to maturity
      20       20  
Equity securities
      29,434       15,897  
Other investment securities
      10,879       11,400  
Investment in subsidiaries:
     
Bank subsidiaries
      5,577,829       5,024,692  
Nonbank subsidiaries
      56,009       55,755  
Goodwill
      (16,466 )      (16,715 ) 
Other assets
      33,837       32,152  
  
 
 
    
 
 
  
Total Assets
    $ 5,883,241     $ 5,378,379  
  
 
 
    
 
 
  
Liabilities and Shareholders’ Equity
     
Junior subordinated debentures of subsidiary trusts
    $ 281,817     $ 280,221  
Accrued expenses and other liabilities
      105,441       104,935  
Shareholders’ equity (including other accumulated comprehensive losses of $138,927 and $223,903 at December 31, 2025 and 2024, respectively)
      5,495,983       4,993,223  
  
 
 
    
 
 
  
Total Liabilities and Shareholders’ Equity
    $ 5,883,241     $ 5,378,379  
  
 
 
    
 
 
  
Condensed Statements of Income
 
Condensed Statements of Income
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Income
  
 
 
Dividends from banking subsidiaries
    $ 317,000     $ 231,000     $ 217,000  
Net interest income
      720       933       970  
Management fees:
       
Bank subsidiaries
      51,913       48,307       43,852  
Nonbank subsidiaries
      51       51       27  
Other income
      12,580       5,064       2,167  
  
 
 
    
 
 
    
 
 
  
Total Income
      382,264       285,355       264,016  
  
 
 
    
 
 
    
 
 
  
Expenses
       
Interest paid on borrowings
      767       0       0  
Operating expenses
      83,167       80,922       67,968  
  
 
 
    
 
 
    
 
 
  
Total Expenses
      83,934       80,922       67,968  
  
 
 
    
 
 
    
 
 
  
Income Before Income Taxes and Equity in Undistributed Net Income of Subsidiaries
      298,330       204,433       196,048  
Applicable income tax benefit
      (2,732 )      (5,589 )      (4,521 ) 
  
 
 
    
 
 
    
 
 
  
Income Before Equity in Undistributed Net
       
Income of Subsidiaries
      301,062       210,022       200,569  
Equity in undistributed net income of subsidiaries:
       
Bank subsidiaries
      169,335       169,778       170,997  
Nonbank subsidiaries
      (5,794 )      (6,804 )      (5,253 ) 
  
 
 
    
 
 
    
 
 
  
Net
Income
    $ 464,603     $ 372,996     $ 366,313  
  
 
 
    
 
 
    
 
 
  
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Operating Activities
  
 
 
Net income
    $ 464,603     $ 372,996     $ 366,313  
Adjustments to reconcile net income to net cash provided by operating activities:
       
Equity in undistributed net income of subsidiaries
      (163,541 )      (162,974 )      (165,744 ) 
Amortization of net periodic pension costs
      1       141       204  
Stock-based compensation
      13,089       12,130       12,463  
Excess tax benefits from stock-based compensation arrangements
      83       258       128  
Net change in other assets and liabilities
      (14,316 )      (5,925 )      (5,420 ) 
  
 
 
    
 
 
    
 
 
  
Net Cash Provided by Operating Activities
      299,919       216,626       207,944  
  
 
 
    
 
 
    
 
 
  
Investing Activities
       
Net proceeds from sales of debt securities
      410       183       338  
 
Condensed Statements of Cash Flows
  
 
 
 
 
 
 
 
 
 
  
Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Net (purchases) proceeds from sales of equity securities
      (216 )      130       (1,303 ) 
Net cash paid in acquisition of subsidiary
      428       0       0  
Increase in investment in subsidiaries
      (6,000 )      (8,000 )      (16,000 ) 
Change in other investment securities
      (1,795 )      (1,187 )      (1,525 ) 
  
 
 
    
 
 
    
 
 
  
Net Cash Used in Investing Activities
      (7,173 )      (8,874 )      (18,490 ) 
  
 
 
    
 
 
    
 
 
  
Financing Activities
       
Repayment of subordinated notes
      (20,575 )      0       (10,250 ) 
Cash dividends paid
      (209,002 )      (200,727 )      (194,727 ) 
Acquisition of treasury stock
      (126,989 )      (1,040 )      (1,382 ) 
Proceeds from exercise of stock options
      751       5,274       1,750  
  
 
 
    
 
 
    
 
 
  
Net Cash Used in Financing Activities
      (355,815 )      (196,493 )      (204,609 ) 
  
 
 
    
 
 
    
 
 
  
(Decrease) Increase in Cash and Cash Equivalents
      (63,069 )      11,259       (15,155 ) 
Cash and Cash Equivalents at Beginning of Year
      249,515       238,256       253,411  
  
 
 
    
 
 
    
 
 
  
Cash and Cash Equivalents at End of Year
    $ 186,446     $ 249,515     $ 238,256  
  
 
 
    
 
 
    
 
 
  
v3.25.4
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Capital Amounts and Ratios
United’s and United Bank’s capital amounts (in thousands of dollars) and ratios are presented in the following table.
 
(Dollars in thousands)
  
Actual
 
 
For Capital

Adequacy Purposeas
 
 
To Be Well-

Capitalized
 
 
  
 Amount 
 
  
 Ratio 
 
 
 Amount 
 
  
 Ratio 
 
 
 Amount 
 
  
 Ratio 
 
As of December 31, 2025:
            
Total Capital (to Risk- Weighted Assets):
            
United Bankshares
   $  4,191,144       15.7 %    $  2,133,353     ≥ 8.0 %    $  2,666,691     ≥ 10.0 % 
United Bank
     3,967,217       15.0 %      2,122,625     ≥ 8.0 %      2,653,281     ≥ 10.0 % 
Tier I Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,583,795       13.4 %    $ 1,600,014     ≥ 6.0 %    $ 2,133,353     ≥ 8.0 % 
United Bank
     3,647,868       13.8 %      1,591,968     ≥ 6.0 %      2,122,625     ≥ 8.0 % 
Common Tier I Capital (to Risk Weighted Assets):
            
United Bankshares
   $ 3,583,795       13.4 %    $ 1,200,011     ≥ 4.5 %    $ 1,733,349     ≥ 6.5 % 
United Bank
     3,647,868       13.8 %      1,193,976     ≥ 4.5 %      1,724,632     ≥ 6.5 % 
Tier I Capital (to Average Assets):
            
United Bankshares
   $ 3,583,795       11.3 %    $ 1,270,832     ≥ 4.0 %    $ 1,588,540     ≥ 5.0 % 
United Bank
     3,647,868       11.5 %      1,265,588     ≥ 4.0 %      1,581,985     ≥ 5.0 % 
As of December 31, 2024:
Total Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,897,755       16.5 %    $ 1,887,433     ≥ 8.0 %    $ 2,359,292     ≥ 10.0 % 
United Bank
     3,620,657       15.4 %      1,877,704     ≥ 8.0 %      2,347,131     ≥ 10.0 % 
Tier I Capital (to Risk- Weighted Assets):
            
United Bankshares
   $ 3,335,667       14.1 %    $ 1,415,575     ≥ 6.0 %    $ 1,887,433     ≥ 8.0 % 
United Bank
     3,348,071       14.3 %      1,408,278     ≥ 6.0 %      1,877,704     ≥ 8.0 % 
Common Tier I Capital (to Risk Weighted Assets):
            
United Bankshares
   $ 3,335,667       14.1 %    $ 1,061,681     ≥ 4.5 %    $ 1,533,540     ≥ 6.5 % 
United Bank
     3,348,071       14.3 %      1,056,209     ≥ 4.5 %      1,525,635     ≥ 6.5 % 
Tier I Capital (to Average Assets):
            
United Bankshares
   $ 3,335,667       11.7 %    $ 1,136,661     ≥ 4.0 %    $ 1,420,827     ≥ 5.0 % 
United Bank
     3,348,071       11.8 %      1,132,023     ≥ 4.0 %      1,415,029     ≥ 5.0 % 
v3.25.4
Fair Values of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value
 
  
 
 
  
Fair Value at December 31, 2025 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,

2025
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
            
Available for sale debt securities:
            
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 281,657      $ 0      $ 281,657      $ 0  
State and political subdivisions
      516,926        0        516,926        0  
Residential mortgage-backed securities
            
Agency
      1,358,636        0        1,358,636        0  
Non-agency
      38,885        0        38,885        0  
Commercial mortgage-backed securities
            
Agency
      395,073        0        395,073        0  
Asset-backed securities
      223,254        0        223,254        0  
Single issue trust preferred securities
      12,658        0        12,658        0  
Other corporate securities
      232,363        4,678        227,685        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total available for sale securities
      3,059,452        4,678        3,054,774        0  
Equity securities:
            
Financial services industry
      25,825        20,421        5,404        0  
Equity mutual funds (1)
      3,610        3,610        0        0  
Fixed income mutual funds
      5,325        5,325        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total equity securities
      34,760        29,356        5,404        0  
Loans held for sale
      31,277        0        0        31,277  
Derivative financial assets:
            
Interest rate swap contracts
      316        0        316        0  
Forward loan sales commitments
      15        0        0        15  
Interest rate lock commitments
      458        0        0        458  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial assets
      789        0        316        473  
Liabilities
            
Derivative financial liabilities:
            
TBA mortgage-backed securities
      70        0        0        70  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial liabilities
      70        0        0        70  
 
 
  
 
 
  
Fair Value at December 31, 2024 Using
 
(In thousands)
 
Description
  
Balance as of

December 31,

2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
            
Available for sale debt securities:
            
U.S. Treasury securities and obligations of U.S. Government corporations and agencies
    $ 245,842      $ 0      $ 245,842      $     0  
State and political subdivisions
      495,073        0        495,073        0  
Residential mortgage-backed securities
            
Agency
      1,059,719        0        1,059,719        0  
Non-agency
      82,123        0        82,123        0  
Commercial mortgage-backed securities
            
 
 
  
 
 
  
Fair Value at December 31, 2024 Using
 
(In thousands)
Description
  
Balance as of

December 31,

2024
 
  
Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Agency
  
 
329,986
 
  
 
0
 
  
 
329,986
 
  
 
0
 
Asset-backed securities
  
 
474,982
 
  
 
0
 
  
 
474,982
 
  
 
0
 
Single issue trust preferred securities
  
 
11,919
 
  
 
0
 
  
 
11,919
 
  
 
0
 
Other corporate securities
      260,075        4,965        255,110        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total available for sale securities
      2,959,719        4,965        2,954,754        0  
Equity securities:
            
Financial services industry
      12.504        12,504        0        0  
Equity mutual funds (1)
      3,394        3,394        0        0  
Fixed income mutual funds
      5,160        5,160        0        0  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total equity securities
      21,058        21,058        0        0  
Loans held for sale
      44,360        0        0        44,360  
Derivative financial assets:
            
Interest rate swap contracts
      644        0        644        0  
TBA mortgage-backed securities
      278        0        0        278  
Interest rate lock commitments
      339        0        0        339  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial assets
      1,261        0        644        617  
Liabilities
            
Derivative financial liabilities:
            
Forward sales commitments
      20        0        0        20  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total derivative financial liabilities
      20        0        0        20  
 
 
(1)
The equity mutual funds are within a rabbi trust for the payment of benefits under a deferred compensation plan for certain key officers of United and its subsidiaries.
Schedule of Additional Information about Financial Assets and Liabilities Measured at Fair Value Utilized Level 3
The following tables present additional information about financial assets and liabilities measured at fair value at December 31, 2025 and 2024 on a recurring basis and for which United has utilized Level 3 inputs to determine fair value. The amount of total gains or losses for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses related to assets still held at the reporting date are recorded in Income from mortgage banking activities in the Consolidated Statements of Income.
 
  
 
 
 
Derivative Assets
 
  
Derivative Liabilities
 
(In thousands)
 
December 31, 2025
  
Loans Held
for Sale
 
 
TBA
Securities
 
 
Forward Sales

Commitments
 
  
Interest Rate
Lock
Commitments
 
  
TBA
Securities
 
  
Forward

Sales
Commitments
 
Balance, beginning of period
     $ 44,360      $ 278      $ 0       $ 339       $ 0       $ 20  
Originations
      370,856       0       0        0        0        0  
Sales
      (393,506 )      0       0        0        0        0  
Transfers other
      0       (278 )      15        119        70        (20 ) 
Total gains during the period recognized in earnings
      9,567       0       0        0        0        0  
  
 
 
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Balance, end of
period
     $ 31,277      $ 0      $ 15       $ 458       $ 70       $ 0  
  
 
 
    
 
 
    
 
 
     
 
 
     
 
 
     
 
 
  
The amount of total (losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date
     $ 48      $ 0      $ 15       $ 458       $ 70       $ 0  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
Derivative Assets
 
 
Derivative Liabilities
 
(In thousands)
 
December 31, 2024
  
Loans
Held for

Sale
 
 
TBA
Securities
 
  
Forward Sales
Commitments
 
 
Interest Rate
Lock
Commitments
 
 
TBA
Securities
 
 
Forward
Sales
Commitments
 
Balance, beginning of period
     $ 51,978      $ 0       $ 33      $ 1,005      $ 667      $ 0  
Originations
      607,383       0        0       0       0       0  
Sales
      (630,244 )      0        0       0       0       0  
Transfers other
      0       278        (33 )      (666 )      (667 )      20  
Total gains during the period recognized in earnings
      15,243       0        0       0       0       0  
  
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Balance, end of period
     $ 44,360     $ 278       $ 0      $ 339      $ 0      $ 20  
  
 
 
    
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
The amount of total (losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date
     $ (1,133 )    $ 278       $ 0      $ 339      $ 0      $ 20  
Schedule of Changes in Fair Value Included in Earnings of Financial Instruments for which Fair Value Option has been Elected
The following table reflects the change in fair value included in earnings of financial instruments for which the fair value option has been elected:
 
 
 
 
 
 
(In thousands)
Description
  
Year Ended

December 31, 2025
 
Year Ended

December 31, 2024
Income from mortgage banking activities
    $ 48    $ (1,222)
Summary of Difference Between Aggregate Fair Value and Remaining Contractual Principal Outstanding for Financial Instruments for which Fair Value Option has been Elected
The following table reflects the difference between the aggregate fair value and the remaining contractual principal outstanding for financial instruments for which the fair value option has been elected:
 
    
December 31, 2025
     
December 31, 2024
  
(In thousands)
 
Description
   
Unpaid
Principal
Balance
     
Fair Value
     
Fair Value
Over/(Under)
Unpaid
Principal
Balance
     
Unpaid
Principal
Balance
     
Fair Value
     
Fair Value
Over/(Under)
Unpaid
Principal
Balance
  
Loans held for sale
     $  30,567       $  31,277       $  710       $  43,698       $  44,360       $  662  
Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis
The following table summarizes United’s financial assets that were measured at fair value on a nonrecurring basis during the period:
 
(In thousands)
 
Description
  
Balance as of

December 31,
2025
 
  
Fair Value at December 31, 2025
 
  
YTD
Gains
(Losses)
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1 )
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
               
Individually assessed loans
    $  51,485      $  0      $  49,870      $  1,615      $  1,172  
OREO
      8,857        0        8,857        0        0  

(In thousands)
 
Description
  
Balance as of

December 31,
2024
 
  
Fair Value at December 31, 2024
 
  
YTD
Gains

(Losses)
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
Assets
               
Individually assessed loans
    $ 40,701      $ 0      $ 21,725      $ 18,976      $ (231 ) 
OREO
      327        0        240        87        0  
Summary of Estimated Fair Values of Financial Instruments
The estimated fair values of United’s financial instruments are summarized below:
 
 
  
 
 
  
 
 
  
Fair Value Measurements
 
(In thousands)
 
  
 Carrying 
Amount
 
  
  Fair Value  
 
  
 Quoted Prices 

in Active

Markets for

Identical

Assets

(Level 1)
 
  
Significant

Other

Observable

Inputs

(Level 2)
 
  
Significant

Unobservable

Inputs

(Level 3)
 
December 31, 2025
               
Cash and cash equivalents
    $ 2,542,250      $ 2,542,250      $ 0      $ 2,542,250      $ 0  
Securities available for sale
      3,059,452        3,059,452        4,678        3,054,774        0  
Securities held to maturity
      1,004        1,020        0        0        1,020  
Equity securities
      34,760        34,760        29,356        5,404        0  
Other securities
      305,184        289,925        0        0        289,925  
Loans held for sale
      31,277        31,277        0        0        31,277  
Net loans
      24,411,604        24,432,980        0        0        24,432,980  
Derivative financial assets,
      789        789        0        316        473  
Deposits
      27,060,939        27,031,873        0        27,031,873        0  
Short-term borrowings
      198,573        198,573        0        198,573        0  
Long-term borrowings
      531,817        524,281        0        524,281        0  
Derivative financial liabilities
      70        70        0        70        0  
December 31, 2024
               
Cash and cash equivalents
    $ 2,292,244      $ 2,292,244      $ 0      $ 2,292,244      $ 0  
Securities available for sale
      2,959,719        2,959,719        4,965        2,954,754        0  
Securities held to maturity
      1,002        1,020        0        0        1,020  
Equity securities
      21,058        21,058        21,058        0        0  
Other securities
      277,517        263,641        0        0        263,641  
Loans held for sale
      44,360        44,360        0        0        44,360  
Net loans
      21,401,649        20,868,239        0        0        20,868,239  
Derivative financial assets,
      1,261        1,261        0        644        617  
Deposits
      23,961,859        23,922,063        0        23,922,063        0  
Short-term borrowings
      176,090        176,090        0        176,090        0  
Long-term borrowings
      540,420        505,305        0        505,305        0  
Derivative financial liabilities
      20        20        0        0        20  
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Summary of Community Banking Segment Information
Information about the community banking segment for the years ended December 31, 2025, 2024 and 2023 is as follows:

 
  
For the Year Ended December 31
 
(In thousands)
  
2025
 
 
2024
 
 
2023
 
Total Assets
    $ 33,660,281     $ 30,023,545     $ 29,926,482  
  
 
 
    
 
 
    
 
 
  
Net interest income
    $ 1,102,164     $ 911,068     $ 919,924  
Provision for credit losses
      53,866       25,153       31,153  
Other income
      135,154       123,695       135,258  
Other expense
       
Employee compensation
      252,054       234,618       230,809  
Employee benefits
      54,333       53,621       48,368  
Net occupancy expense
      49,794       46,084       46,426  
OREO expense
      892       576       1,355  
Net gains on the sales of OREO properties
      (148 )      (75 )      (60 ) 
Equipment expense
      34,917       29,686       29,731  
Data processing expense
      32,622       29,646       29,395  
Mortgage loan servicing expense and impairment
      0       2,694       5,596  
Bankcard processing expense
      2,342       2,490       2,192  
FDIC insurance expense
      17,022       19,735       30,376  
Other segment expense
(a)
      156,224       125,956       136,036  
  
 
 
    
 
 
    
 
 
  
Total other expense
      600,052       545,031       560,224  
  
 
 
    
 
 
    
 
 
  
Income before income taxes
      583,400       464,579       463,805  
Income taxes
      118,797       91,583       97,492  
  
 
 
    
 
 
    
 
 
  
Segment net income
      464,603       372,996       366,313  
Reconciliation of profit or loss
       
Adjustments and reconciling items
      0       0       0  
  
 
 
    
 
 
    
 
 
  
Consolidated net income
    $ 464,603     $ 372,996     $ 366,313  
  
 
 
    
 
 
    
 
 
  
 
(a)
Other segment expense includes legal, consulting and other professional services expense, franchise and other taxes not on income, expense for reserve on lending-related commitments, ATM expenses, marketing expense, core deposits amortization, and other general operating expenses.
v3.25.4
Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
Quarterly financial data for 2025 and 2024 is summarized below:

(Dollars in thousands, except per share data)
  
1st Quarter
 
  
2nd Quarter
 
  
3rd Quarter
 
  
4th Quarter
 
2025
  
  
  
  
Interest income
    $ 403,647     $ 421,196     $ 430,957     $ 430,053  
Interest expense
      143,592       146,659       150,842       142,596  
Net interest income
      260,055       274,537       280,115       287,457  
Provision for credit losses
      29,103       5,889       12,095       6,779  
Mortgage banking income
      2,479       2,603       2,495       1,990  
Securities gains(losses), net
      521       425       10,442       (218 ) 
Other noninterest income
      26,554       28,432       30,267       29,164  
Noninterest expense
      153,573       148,020       146,741       151,718  
Income taxes
      22,627       31,367       33,735       31,068  
Net income
(1)
      84,306       120,721       130,748       128,828  
Per share data:
         
Average shares outstanding (000s):
         
Basic
      142,331       142,207       141,548       140,481  
Diluted
      142,698       142,444       141,961       140,980  
Net income per share:
         
Basic
    $ 0.59     $ 0.85     $ 0.92     $ 0.92  
Diluted
    $ 0.59     $ 0.85     $ 0.92     $ 0.91  
Dividends per share
    $ 0.37     $ 0.37     $ 0.37     $ 0.38  
2024
                              
Interest income
    $ 369,180     $ 374,184     $ 382,723     $ 376,034  
Interest expense
      146,691       148,469       152,467       143,426  
Net interest income
      222,489       225,715       230,256       232,608  
Provision for credit losses
      5,740       5,779       6,943       6,691  
Mortgage banking income
      5,298       3,901       4,544       2,314  
(Dollars in thousands, except per share data)
  
1st
Quarter
 
 
2nd
Quarter
 
 
3rd
Quarter
 
 
4th
Quarter
 
Securities losses, net
      (99 )      (218 )      (6,715 )      (688 ) 
Other noninterest income
      27,013       26,540       34,113       27,692  
Noninterest expense
      140,742       134,774       135,339       134,176  
Income taxes
      21,405       18,878       24,649       26,651  
Net income
(1)
      86,814       96,507       95,267       94,408  
Per share data:
         
Average shares outstanding (000s):
         
Basic
      134,809       135,138       135,158       135,236  
Diluted
      135,121       135,315       135,505       135,732  
Net income per share:
         
Basic
    $ 0.64     $ 0.71     $ 0.70     $ 0.70  
Diluted
    $ 0.64     $ 0.71     $ 0.70     $ 0.69  
Dividends per share
    $ 0.37     $ 0.37     $ 0.37     $ 0.37  
 
 
(1)
For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Summary of Significant Accounting Policies - Reconciliation of Numerator and Denominator of Basic Earnings Per Share with that of Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]                      
Distributed earnings allocated to common stock                 $ 211,141 $ 200,156 $ 195,167
Undistributed earnings allocated to common stock                 252,428 172,006 170,267
Net earnings allocated to common shareholders                 $ 463,569 $ 372,162 $ 365,434
Average common shares outstanding 140,481,000 141,548,000 142,207,000 142,331,000 135,236,000 135,158,000 135,138,000 134,809,000 141,497,205 134,947,592 134,505,058
Dilutive effect of stock compensation                 330,155 277,825 248,762
Average diluted shares outstanding 140,980,000 141,961,000 142,444,000 142,698,000 135,732,000 135,505,000 135,315,000 135,121,000 141,827,360 135,225,417 134,753,820
Earnings per basic common share $ 0.92 $ 0.92 $ 0.85 $ 0.59 $ 0.7 $ 0.7 $ 0.71 $ 0.64 $ 3.28 $ 2.76 $ 2.72
Earnings per diluted common share $ 0.91 $ 0.92 $ 0.85 $ 0.59 $ 0.69 $ 0.7 $ 0.71 $ 0.64 $ 3.27 $ 2.75 $ 2.71
v3.25.4
Summary of Significant Accounting Policies - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2025
USD ($)
Region
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Number Of Metropolitan Statistical Areas | Region 5    
Loan fees net of costs amortized and included in interest income $ 64,392,000 $ 36,937,000 $ 39,509,000
Minimum days, related to accrual of interest on discontinued commercial and consumer loans 90 days    
Maximum days, related to accrual of interest on discontinued commercial and consumer loans 120 days    
Real estate acquired in foreclosure or other settlement of loans $ 8,857,000,000 327,000,000  
Recorded investment of consumer mortgage loans 1,868,000,000 795,000,000  
Advertising Expense 9,003,000 8,336,000 9,330,000
Amortization expense on intangible assets 9,363,000 3,639,000 5,116,000
Total goodwill 2,018,848,000 1,888,889,000  
Stock based compensation expense $ 13,089,000 $ 12,130,000 $ 12,463,000
Antidilutive stock options and restricted stock outstanding shares | shares 563,090 590,395 1,410,389
Allowances for credit losses on securities held to maturity $ 16,000 $ 18,000  
Allowance for credit losses on securities held for sale 0 0  
Restricted Stock Units (RSUs) [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Stock based compensation expense $ 13,089,000 $ 12,130,000 $ 12,463,000
Minimum [Member] | Core Deposit Intangible Assets [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Intangible assets amortization period 1 year    
Maximum [Member] | Core Deposit Intangible Assets [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Intangible assets amortization period 10 years    
Furniture, Fixtures and Equipment [Member] | Minimum [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Bank premises and equipment, useful life 3 years    
Furniture, Fixtures and Equipment [Member] | Maximum [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Bank premises and equipment, useful life 15 years    
Buildings and Improvements [Member] | Minimum [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Bank premises and equipment, useful life 5 years    
Buildings and Improvements [Member] | Maximum [Member]      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Bank premises and equipment, useful life 40 years    
v3.25.4
Mergers and Acquisitions - Additional Information (Detail)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Jan. 10, 2025
USD ($)
shares
Sep. 05, 2024
Offices
May 09, 2024
$ / shares
Dec. 31, 2025
USD ($)
$ / shares
Sep. 30, 2025
USD ($)
 [1]
Jun. 30, 2025
USD ($)
 [1]
Mar. 31, 2025
USD ($)
 [1]
Dec. 31, 2024
USD ($)
$ / shares
Sep. 30, 2024
USD ($)
 [1]
Jun. 30, 2024
USD ($)
 [1]
Mar. 31, 2024
USD ($)
 [1]
Dec. 31, 2025
USD ($)
$ / shares
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
Business Acquisition [Line Items]                            
Par value of Share | $ / shares       $ 2.5       $ 2.5       $ 2.5 $ 2.5  
Assets       $ 33,660,281       $ 30,023,545       $ 33,660,281 $ 30,023,545  
Business combination intangible assets acquired goodwill                       129,959 0 $ 0
Financing receivable, purchased with credit deterioration, discount (premium)                       20,906    
Business acquisition allowances for loans and lease losses including reserve for unfunded commitments for assets with credit deterioration                       17,518 0 0
Net income (loss)       128,828 [1] $ 130,748 $ 120,721 $ 84,306 94,408 [1] $ 95,267 $ 96,507 $ 86,814 464,603 372,996 366,313
Contract with Customer, Asset, Allowance for Credit Loss       297,518       271,844       $ 297,518 271,844 $ 259,237
Business combination separately recognized transaction acquisition related cost expensed statement of income or comprehensive income extensible enumeration not disclosed flag                       true    
Loans at consummation       24,720,620       $ 21,680,498       $ 24,720,620 $ 21,680,498  
Piedmont Bancorp [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Par value of Share | $ / shares     $ 0.025                      
Business combination aggregate purchase consideration                       280,967    
Business combination purchase consideration equity shares issued or issuable value                       280,946    
Business combination intangible assets acquired goodwill                       129,959    
Net income (loss) $ 102,675                          
Revenues 151,925                          
Business combination, recognized identifiable assets acquired and liabilities assumed, noncurrent liabilities, other       1,024               1,024    
Business combination, recognized identifiable assets acquired and liabilities assumed, deferred tax liabilities       5,910               5,910    
Business combination, recognized identifiable assets acquired and liabilities assumed, net       4,756               4,756    
Accounts and Financing Receivable, Allowance for Credit Loss $ 18,726                          
Acquired Loan Commitments Reserve                       4,058    
Contract with Customer, Asset, Allowance for Credit Loss       $ 36,244               36,244    
Fair value premiums of interest bearing time deposit                       408    
Fair value premiums of building acquired                       1,469    
Fair value discounts of land acquired                       3,492    
Fair Value Discounts Of Available For Sale Of Securities                       24,977    
Fair value discounts of loans and leases acquired                       64,065    
Business combination consideration transferred for fractional shares                       21    
Stock issued during period, shares, acquisitions | shares 7,860,831                          
Core deposit intangible acquired                       32,764    
Deposit Assets $ 2,105,402                          
Loans at consummation 2,079,933                          
Number of trading days for determining the consideration for options and warrants   10 days                        
Stockholders equity stock split conversion ratio     0.003                      
Number of Businesses Acquired | Offices   16                        
PCD Loan [Member] | Piedmont Bancorp [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Financing receivable, purchased with credit deterioration, discount (premium)                       20,906    
Business acquisition allowances for loans and lease losses including reserve for unfunded commitments for assets with credit deterioration                       17,518    
Non PDC Loans [Member] | Piedmont Bancorp [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Business acquisition allowances for loans and lease losses including reserve for unfunded commitments for assets with credit deterioration                       $ 18,726    
Fair value financing receivable purchased with credit deterioration at acquisition date 43,159                          
Business combination unamortized discount on debt useful life                       4 years 9 months 18 days    
Provision for other credit losses                       $ 18,726    
Business combination, separately recognized transactions, additional disclosures, acquisition cost expensed 31,407                          
Piedmont Bank [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Assets $ 2,356,883                          
Piedmont Bank [Member] | Piedmont Bancorp [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Business Acquisition, Share Price | $ / shares       $ 35.74               $ 35.74    
Piedmont Bank [Member] | PCD Loan [Member] | Merger Agreement [Member]                            
Business Acquisition [Line Items]                            
Business combination unamortized discount on debt useful life                       5 years 6 months    
Piedmont Bank [Member] | Trust Preferred Securities Subject to Mandatory Redemption [Member]                            
Business Acquisition [Line Items]                            
Business combination unamortized discount on debt useful life                       30 years 6 months    
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Mergers and Acquisitions - Summary of Reconciliation of Difference Between Purchase Price and Par Value of Purchase Credit Loans Acquired (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disclosure Detail of Reconciliation of Difference Between Purchase Price and Par Value of Purchase Credit Loans Acquired [Line Items]      
Purchase price of PCD loans and leases at acquisition $ 409,872    
Allowance for credit losses at acquisition 17,518 $ 0 $ 0
Non-credit discount at acquisition 20,906    
Par value (UPB) of acquired PCD loans and leases at acquisition $ 448,296    
v3.25.4
Mergers and Acquisitions - Summary of Business Acquisitions, by Acquisition (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Identifiable liabilities:    
Resulting goodwill $ 2,018,848,000 $ 1,888,889,000
UBSI Piedmont Bancorp [Member]    
Purchase price:    
Value of common shares issued 280,946,000  
Cash for fractional shares 21,000  
Total purchase price 280,967,000  
Identifiable assets:    
Cash and cash equivalents 77,497,000  
Investment securities 94,426,000  
Net loans and leases 1,998,350,000  
Premises and equipment 23,816,000  
Operating lease right-of-use asset 5,124,000  
BOLI 40,801,000  
Core deposit intangible 32,764,000  
Other assets 30,573,000  
Total identifiable assets 2,303,351,000  
Identifiable liabilities:    
Deposits 2,105,810,000  
Long-term borrowings 20,000,000  
Operating lease liability 5,744,000  
Other liabilities 20,789,000  
Total identifiable liabilities 2,152,343,000  
Fair value of net assets acquired including identifiable intangible assets 151,008,000  
Resulting goodwill $ 129,959,000  
v3.25.4
Mergers and Acquisitions - Summary Of Operating Cost Savings And Other Business Synergies (Detail) - UBSI Piedmont Bancorp [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Acquisition Proforma Information [Line Items]    
Total Revenues [1] $ 1,240,758 $ 1,152,368
Net Income $ 452,896 $ 416,376
[1] Represents net interest income plus other income
v3.25.4
Investment Securities - Summary of Amortized Cost and Estimated Fair Values of Available for Sale Securities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Amortized Cost $ 3,264,860 $ 3,282,690
Gross Unrealized Gains 11,231 966
Gross Unrealized Losses 216,639 323,937
Allowance For Credit Losses 0 0
Estimated Fair Value 3,059,452 2,959,719
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 283,058 248,867
Gross Unrealized Gains 75 59
Gross Unrealized Losses 1,476 3,084
Allowance For Credit Losses 0 0
Estimated Fair Value 281,657 245,842
State and Political Subdivisions [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 572,217 574,580
Gross Unrealized Gains 343 8
Gross Unrealized Losses 55,634 79,515
Allowance For Credit Losses 0 0
Estimated Fair Value 516,926 495,073
Residential mortgage-backed securities Agency [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 1,467,436 1,226,400
Gross Unrealized Gains 5,517 433
Gross Unrealized Losses 114,317 167,114
Allowance For Credit Losses 0 0
Estimated Fair Value 1,358,636 1,059,719
Residential Mortgage-Backed Securities, Non-agency [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 42,792 88,392
Gross Unrealized Gains 330 262
Gross Unrealized Losses 4,237 6,531
Allowance For Credit Losses 0 0
Estimated Fair Value 38,885 82,123
Commercial Mortgage-Backed Securities Agency [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 416,177 372,646
Gross Unrealized Gains 4,948 38
Gross Unrealized Losses 26,052 42,698
Allowance For Credit Losses 0 0
Estimated Fair Value 395,073 329,986
Asset-backed Securities [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 225,617 476,863
Gross Unrealized Gains 18 166
Gross Unrealized Losses 2,381 2,047
Allowance For Credit Losses 0 0
Estimated Fair Value 223,254 474,982
Single Issue Trust Preferred Securities [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 13,319 13,296
Gross Unrealized Gains 0 0
Gross Unrealized Losses 661 1,377
Allowance For Credit Losses 0 0
Estimated Fair Value 12,658 11,919
Other Corporate Securities [Member]    
Schedule of Investments [Line Items]    
Amortized Cost 244,244 281,646
Gross Unrealized Gains 0 0
Gross Unrealized Losses 11,881 21,571
Allowance For Credit Losses 0 0
Estimated Fair Value $ 232,363 $ 260,075
v3.25.4
Investment Securities - Summary of Securities Available for Sale in an Unrealized Loss Position (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value $ 172,626 $ 219,109
Less than 12 months, Unrealized Losses 972 1,759
12 months or longer, Fair Value 1,998,999 2,238,628
12 months or longer, Unrealized Losses 215,667 322,178
Total, Fair Value 2,171,625 2,457,737
Total, Unrealized Losses 216,639 323,937
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 133 1,476
Less than 12 months, Unrealized Losses 1 3
12 months or longer, Fair Value 31,485 42,886
12 months or longer, Unrealized Losses 1,475 3,081
Total, Fair Value 31,618 44,362
Total, Unrealized Losses 1,476 3,084
State and Political Subdivisions [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 6,177 3,314
Less than 12 months, Unrealized Losses 543 22
12 months or longer, Fair Value 483,564 479,681
12 months or longer, Unrealized Losses 55,091 79,493
Total, Fair Value 489,741 482,995
Total, Unrealized Losses 55,634 79,515
Residential Mortgage-Backed Securities, Agency [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 109,848 128,655
Less than 12 months, Unrealized Losses 270 1,660
12 months or longer, Fair Value 795,183 856,448
12 months or longer, Unrealized Losses 114,047 165,454
Total, Fair Value 905,031 985,103
Total, Unrealized Losses 114,317 167,114
Residential Mortgage-Backed Securities, Non-agency [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 0 0
Less than 12 months, Unrealized Losses 0 0
12 months or longer, Fair Value 21,189 59,668
12 months or longer, Unrealized Losses 4,237 6,531
Total, Fair Value 21,189 59,668
Total, Unrealized Losses 4,237 6,531
Commercial Mortgage-Backed Securities Agency [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 6,287 0
Less than 12 months, Unrealized Losses 4 0
12 months or longer, Fair Value 293,038 319,506
12 months or longer, Unrealized Losses 26,048 42,698
Total, Fair Value 299,325 319,506
Total, Unrealized Losses 26,052 42,698
Asset-backed Securities [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 50,181 83,188
Less than 12 months, Unrealized Losses 154 50
12 months or longer, Fair Value 136,940 215,886
12 months or longer, Unrealized Losses 2,227 1,997
Total, Fair Value 187,121 299,074
Total, Unrealized Losses 2,381 2,047
Single Issue Trust Preferred Securities [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 0 0
Less than 12 months, Unrealized Losses 0 0
12 months or longer, Fair Value 12,658 11,919
12 months or longer, Unrealized Losses 661 1,377
Total, Fair Value 12,658 11,919
Total, Unrealized Losses 661 1,377
Other Corporate Securities [Member]    
Schedule of Investments [Line Items]    
Less than 12 months, Fair Value 0 2,476
Less than 12 months, Unrealized Losses 0 24
12 months or longer, Fair Value 224,942 252,634
12 months or longer, Unrealized Losses 11,881 21,547
Total, Fair Value 224,942 255,110
Total, Unrealized Losses $ 11,881 $ 21,571
v3.25.4
Investment Securities - Summary of Gains or Losses on Proceeds from Maturities, Sales and Calls of Available for Sale Securities by Specific Identification Method (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Proceeds from maturities, sales and calls $ 2,260,860 $ 2,914,095 $ 952,213
Gross realized gains 0 0 0
Gross realized losses $ 0 $ 16,296 $ 7,659
v3.25.4
Investment Securities - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2025
USD ($)
Contract
Dec. 31, 2024
USD ($)
Schedule of Investments [Line Items]    
Accrued interest receivable $ 12,717,000 $ 14,776,000
Gross unrealized losses on available for sale securities $ 216,639,000 323,937,000
Available for sale securities in unrealized loss position | Contract 864  
Available for sale securities in portfolio, number | Contract 1,045  
Capitalization of banks, equal to or greater than, in the single-issue trust preferred portfolio $ 10,000,000,000  
Equity securities at estimated fair value 34,760,000 21,058,000
Carrying value of securities pledged 2,102,175,000 2,038,864,000
Held-to-maturity securities amortized cost 1,004,000 1,002,000
Held-to-maturity securities estimated fair value $ 1,020,000 1,020,000
Fitch, AAA Rating [Member]    
Schedule of Investments [Line Items]    
Percentage of asset backed securities with credit rating 36.00%  
Federal Family Education Loan Program [Member] | Fitch, AA+ Rating [Member]    
Schedule of Investments [Line Items]    
Percentage of asset backed securities with credit rating 64.00%  
Minimum [Member] | Federal Family Education Loan Program [Member] | Fitch, AA+ Rating [Member]    
Schedule of Investments [Line Items]    
Percentage of repayment guaranteed by the government 97.00%  
Non Agency Residential Mortgage Backed Securities [Member]    
Schedule of Investments [Line Items]    
Amortized cost of available for sale single issue trust preferred securities $ 42,792,000  
Available for sale debt securities $ 0  
Investment Grade [Member]    
Schedule of Investments [Line Items]    
Percentage of asset backed securities with credit rating 99.00%  
Amortized cost of available for sale single issue trust preferred securities $ 7,489,000  
Unrated Bonds Investment Grade [Member]    
Schedule of Investments [Line Items]    
Amortized cost of available for sale single issue trust preferred securities 5,830,000  
State and Political Subdivisions [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities $ 55,634,000 79,515,000
Percent of portfolio with credit support 46.00%  
Amortized cost of available for sale single issue trust preferred securities $ 572,217,000  
Agency Mortgage Backed Securities [Member]    
Schedule of Investments [Line Items]    
Amortized cost of available for sale single issue trust preferred securities 1,883,613,000  
Commercial Mortgage-Backed Securities [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities 26,052,000 42,698,000
Amortized cost of available for sale single issue trust preferred securities 416,177,000  
Residential Mortgage-Backed Securities, Agency [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities 114,317,000 167,114,000
Amortized cost of available for sale single issue trust preferred securities 1,467,436,000  
Residential Mortgage-Backed Securities, Non-agency [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities 4,237,000 6,531,000
Amortized cost of available for sale single issue trust preferred securities $ 42,792,000  
Residential Mortgage-Backed Securities, Non-agency [Member] | AAA [Member]    
Schedule of Investments [Line Items]    
Percentage of asset backed securities with credit rating 100.00%  
Corporate Bonds [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities $ 11,881,000 21,571,000
Amortized cost of available for sale single issue trust preferred securities $ 244,244,000  
Corporate Bonds [Member] | Investment Grade [Member]    
Schedule of Investments [Line Items]    
Percent of corporate securities portfolio 95.00%  
Corporate Bonds [Member] | Below Investment Grade [Member]    
Schedule of Investments [Line Items]    
Percent of corporate securities portfolio 2.00%  
Corporate Bonds [Member] | Unrated Bonds Investment Grade [Member]    
Schedule of Investments [Line Items]    
Percent of corporate securities portfolio 3.00%  
Mortgage Backed Securities [Member]    
Schedule of Investments [Line Items]    
Net unrealized gains $ 133,811,000  
Held-to-maturity securities amortized cost 1,926,405,000  
Held-to-maturity securities estimated fair value 1,792,594,000  
Asset-backed Securities [Member]    
Schedule of Investments [Line Items]    
Gross unrealized losses on available for sale securities 2,381,000 $ 2,047,000
Amortized cost of available for sale single issue trust preferred securities 225,617,000  
Asset-backed Securities [Member] | Federal Family Education Loan Program [Member] | Fitch, AA+ Rating [Member]    
Schedule of Investments [Line Items]    
Available for sale debt securities $ 0  
v3.25.4
Investment Securities - Summary of Maturities of Securities Available for Sale by Amortized Cost and Estimated Fair Value (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Due in one year or less, Amortized Cost $ 298,573  
Due after one year through five years, Amortized Cost 527,383  
Due after five years through ten years, Amortized Cost 559,647  
Due after ten years, Amortized Cost 1,879,257  
Amortized Cost 3,264,860 $ 3,282,690
Due in one year or less, Estimated Fair Value 298,193  
Due after one year through five years, Estimated Fair Value 494,204  
Due after five years through ten years, Estimated Fair Value 521,011  
Due after ten years, Estimated Fair Value 1,746,044  
Total available for sale securities $ 3,059,452 $ 2,959,719
v3.25.4
Investment Securities - Summary of Equity Securities (Detail) - Equity Securities [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]    
Net gains recognized during the period on equity securities sold $ 0 $ 4,602
Unrealized gains recognized during the period on equity securities still held at period end 11,445 4,259
Unrealized losses recognized during the period on equity securities still held at period end (275) (285)
Net gains recognized during the period $ 11,170 $ 8,576
v3.25.4
Loans and Leases - Major Classes of Loans And Leases (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Commercial, financial and agricultural:    
Total commercial, financial & agricultural $ 14,274,274 $ 11,881,005
Residential real estate 6,098,262 5,507,384
Construction & land development 3,570,902 3,509,034
Consumer:    
Bankcard 9,686 9,998
Other consumer 767,496 773,077
Less: Unearned income (11,498) (7,005)
Loans and leases, net of unearned income 24,709,122 21,673,493
Owner-Occupied Commercial Real Estate [Member]    
Commercial, financial and agricultural:    
Total commercial, financial & agricultural 2,145,921 1,590,002
Nonowner-Occupied Commercial Real Estate [Member]    
Commercial, financial and agricultural:    
Total commercial, financial & agricultural 8,343,520 6,939,641
Other Commercial Loans And Leases [Member]    
Commercial, financial and agricultural:    
Total commercial, financial & agricultural $ 3,784,833 $ 3,351,362
v3.25.4
Loans and Leases - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans held for sale $ 31,277,000 $ 44,360,000
unamortized loan fees 56,690,000 26,322,000
Loans-in-process 34,905,000 5,569,000
Overdrafts from deposit accounts 4,331,000 4,919,000
Related party loans 42,441,000 $ 22,702,000
Directors and Officers [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Additional amount of loan 22,432,000  
Repayment of Loan $ 2,693,000  
v3.25.4
Credit Quality - Additional Information (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Receivables [Abstract]  
Minimum days for discontinue of accrual interest on commercial and consumer loan 90 days
Maximum days for discontinue of accrual interest on commercial and consumer loan 120 days
Minimum number of days required for special mention 30 days
Maximum number of days required for special mention 89 days
Number of days required for substandard 90 days
Description of Credit Risk Exposure For United’s loans with a corporate credit exposure, United analyzes loans individually to classify the loans as to credit risk. Review and analysis of criticized (special mention-rated loans in the amount of $1,000,000 or greater) and classified (substandard-rated and worse in the amount of $500,000 and greater) loans is completed once per quarter. Review of notes with committed exposure of $3,000,000 or greater is completed at least annually.
Modification additional funds recorded investment $ 139,000
v3.25.4
Credit Quality - Schedule of Age Analysis of its Past Due Loans, Segregated by Class of Loans and Leases (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Loans, Past Due $ 24,720,620 $ 21,680,498
Loans, Recorded Investment >90 Days & Accruing 4,974 16,940
30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 55,065 83,942
90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 101,466 73,400
Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 156,531 157,342
Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 24,564,089 21,523,156
Construction & Land Development [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 3,570,902 3,509,034
Loans, Recorded Investment >90 Days & Accruing 0 1,677
Construction & Land Development [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 1,508 390
Construction & Land Development [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 1,301 4,265
Construction & Land Development [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 2,809 4,655
Construction & Land Development [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 3,568,093 3,504,379
Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 2,145,921 1,590,002
Loans, Recorded Investment >90 Days & Accruing 81 0
Commercial Real Estate [Member] | Owner-Occupied [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 4,754 3,767
Commercial Real Estate [Member] | Owner-Occupied [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 1,830 1,284
Commercial Real Estate [Member] | Owner-Occupied [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 6,584 5,051
Commercial Real Estate [Member] | Owner-Occupied [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 2,139,337 1,584,951
Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 8,343,520 6,939,641
Loans, Recorded Investment >90 Days & Accruing 0 0
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 7,598 11,931
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 71,038 23,379
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 78,636 35,310
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 8,264,884 6,904,331
Other Commercial [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 3,784,833 3,351,362
Loans, Recorded Investment >90 Days & Accruing 591 431
Other Commercial [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 2,490 5,594
Other Commercial [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 6,569 19,019
Other Commercial [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 9,059 24,613
Other Commercial [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 3,775,774 3,326,749
Residential Real Estate [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 6,098,262 5,507,384
Loans, Recorded Investment >90 Days & Accruing 3,701 12,429
Residential Real Estate [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 25,026 33,783
Residential Real Estate [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 19,124 20,946
Residential Real Estate [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 44,150 54,729
Residential Real Estate [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 6,054,112 5,452,655
Consumer [Member] | Bankcard [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 9,686 9,998
Loans, Recorded Investment >90 Days & Accruing 54 61
Consumer [Member] | Bankcard [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 28 63
Consumer [Member] | Bankcard [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 54 61
Consumer [Member] | Bankcard [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 82 124
Consumer [Member] | Bankcard [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 9,604 9,874
Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 767,496 773,077
Loans, Recorded Investment >90 Days & Accruing 547 2,342
Consumer [Member] | Other Consumer [Member] | 30-89 Days Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 13,661 28,414
Consumer [Member] | Other Consumer [Member] | 90 Days or more Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 1,550 4,446
Consumer [Member] | Other Consumer [Member] | Total Past Due [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due 15,211 32,860
Consumer [Member] | Other Consumer [Member] | Current & Other [Member]    
Financing Receivable, Past Due [Line Items]    
Loans, Past Due $ 752,285 $ 740,217
v3.25.4
Credit Quality - Schedule of Nonaccrual Loans, Segregated by Class of Loans and Leases (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Nonaccruals $ 96,492 $ 56,460
With No Related Allowance for Credit Losses 94,029 20,598
Other Commercial [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 5,978 18,588
With No Related Allowance for Credit Losses 3,515 584
Residential Real Estate [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 15,423 8,517
With No Related Allowance for Credit Losses 15,423 5,562
Owner-Occupied [Member] | Commercial Real Estate [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 1,749 1,284
With No Related Allowance for Credit Losses 1,749 1,284
Nonowner-Occupied [Member] | Commercial Real Estate [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 71,038 23,379
With No Related Allowance for Credit Losses 71,038 8,475
Construction [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 1,301 2,588
With No Related Allowance for Credit Losses 1,301 2,589
Bankcard [Member] | Consumer [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 0 0
With No Related Allowance for Credit Losses 0 0
Other Consumer [Member] | Consumer [Member]    
Financing Receivable, Past Due [Line Items]    
Nonaccruals 1,003 2,104
With No Related Allowance for Credit Losses $ 1,003 $ 2,104
v3.25.4
Credit Quality - Schedule of Amortized Cost Basis of Loan Modifications Made to Borrowers (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction $ 1,000 $ 2,400
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 3,466 $ 168
% of Total Class of Financing Receivable 0.13% 0.04%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 674
% of Total Class of Financing Receivable   0.00%
Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 15,475 $ 6,447
Financing Receivable, Modified, Subsequent Default   0
Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 7,160 0
Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 4,616 0
Financing Receivable, Modified, Subsequent Default   0
Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 3,466 $ 0
% of Total Class of Financing Receivable 0.54% 0.03%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Commercial Real Estate [Member] | Owner-Occupied [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 8,015 $ 445
Financing Receivable, Modified, Subsequent Default   0
Commercial Real Estate [Member] | Owner-Occupied [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Commercial Real Estate [Member] | Owner-Occupied [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Financing Receivable, Modified, Subsequent Default   0
Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 0
% of Total Class of Financing Receivable 0.23% 0.08%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 7,460 $ 5,765
Financing Receivable, Modified, Subsequent Default   0
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 7,160 0
Commercial Real Estate [Member] | Nonowner-Occupied [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 4,616 0
Financing Receivable, Modified, Subsequent Default   0
Other Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 1,000 2,400
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 0
% of Total Class of Financing Receivable 0.03% 0.00%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Other Commercial [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 $ 0
Financing Receivable, Modified, Subsequent Default   0
Other Commercial [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Other Commercial [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Financing Receivable, Modified, Subsequent Default   0
Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 168
% of Total Class of Financing Receivable 0.00% 0.06%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Residential Real Estate [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 $ 185
Financing Receivable, Modified, Subsequent Default   0
Residential Real Estate [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Residential Real Estate [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Financing Receivable, Modified, Subsequent Default   0
Construction & Land Development [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 0
% of Total Class of Financing Receivable 0.00% 0.00%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 674
% of Total Class of Financing Receivable   0.02%
Construction & Land Development [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 $ 52
Financing Receivable, Modified, Subsequent Default   0
Construction & Land Development [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Construction & Land Development [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Financing Receivable, Modified, Subsequent Default   0
Consumer [Member] | Bankcard [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 0
% of Total Class of Financing Receivable 0.00% 0.00%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Consumer [Member] | Bankcard [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 $ 0
Financing Receivable, Modified, Subsequent Default   0
Consumer [Member] | Bankcard [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Consumer [Member] | Bankcard [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Financing Receivable, Modified, Subsequent Default   0
Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Modifications [Line Items]    
Amortized Cost Basis Loan Modification Term Extension And Interest Rate Reduction 0 0
Amortized Cost Basis Loan Modification Term Extension And Permanent Delay $ 0 $ 0
% of Total Class of Financing Receivable 0.00% 0.00%
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Interest Rate Reduction   $ 0
Amortized Cost Basis of Modified Loans that Subsequently Defaulted in Term Extension Payment Delay   $ 0
% of Total Class of Financing Receivable   0.00%
Consumer [Member] | Other Consumer [Member] | Term Extension [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 $ 0
Financing Receivable, Modified, Subsequent Default   0
Consumer [Member] | Other Consumer [Member] | Other than insignificant payment delay [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified 0 0
Consumer [Member] | Other Consumer [Member] | Interest Rate Reduction [Member]    
Financing Receivable, Modifications [Line Items]    
Financing Receivable, Modified $ 0 0
Financing Receivable, Modified, Subsequent Default   $ 0
v3.25.4
Credit Quality - Schedule of Amortized Cost Basis Payment Status (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) $ 27,319 $ 4,560
Current [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 11,481 445
Current [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 14,838 1,366
Current [Member] | Other Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 1,000 2,400
Current [Member] | Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 297
Current [Member] | Construction & Land Development [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 52
Current [Member] | Consumer [Member] | Bankcard [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
Current [Member] | Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
30-89 Days Past Due [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 4,398 4,455
30-89 Days Past Due [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
30-89 Days Past Due [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 4,398 4,399
30-89 Days Past Due [Member] | Other Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
30-89 Days Past Due [Member] | Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 56
30-89 Days Past Due [Member] | Construction & Land Development [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
30-89 Days Past Due [Member] | Consumer [Member] | Bankcard [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
30-89 Days Past Due [Member] | Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Other Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Construction & Land Development [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Consumer [Member] | Bankcard [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) 0 0
90+ Days Past Due [Member] | Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Modifications [Line Items]    
Payment Status (Amortized Cost Basis) $ 0 $ 0
v3.25.4
Credit Quality - Schedule of Financial Effect of Loan and Lease Modifications (Detail)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Commercial Real Estate [Member] | Owner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.50% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 2 years 4 months 24 days  
Weighted Average Term Extension (in years) 9 months 18 days 3 months 18 days
Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.50% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 1 year 7 months 6 days  
Weighted Average Term Extension (in years) 4 months 24 days 6 months
Other Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.00% 1.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 0 years  
Weighted Average Term Extension (in years) 3 months 18 days 3 months 18 days
Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.00% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 0 years  
Weighted Average Term Extension (in years) 0 years 4 years 10 months 24 days
Construction & Land Development [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.00% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 0 years  
Weighted Average Term Extension (in years) 0 years 4 years 6 months
Consumer [Member] | Bankcard [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.00% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 0 years  
Weighted Average Term Extension (in years) 0 years 0 years
Consumer [Member] | Other Consumer [Member]    
Financing Receivable, Modifications [Line Items]    
Weighted-Average Interest Rate Reduction 0.00% 0.00%
Weighted-Average Other-Than- Insignificant Payment Delay (in years) 0 years  
Weighted Average Term Extension (in years) 0 years 0 years
v3.25.4
Credit Quality - Schedule of Amortized Cost Loans and Leases Pledged As Collateral (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral $ 173,232 $ 75,077
Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 22,460 9,589
Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 130,377 33,379
Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 12,072 21,385
Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 6,054 7,359
Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 2,269 3,365
Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 13,129 14,390
Residential Real Estate [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 5
Residential Real Estate [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 6,830 7,037
Residential Real Estate [Member] | Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Residential Real Estate [Member] | Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 6,049 7,348
Residential Real Estate [Member] | Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 250 0
Residential Real Estate [Member] | Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Residential Real Estate [Member] | Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 4,005 15,816
Business Assets [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member] | Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 4,005 15,816
Business Assets [Member] | Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member] | Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member] | Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Business Assets [Member] | Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 849 2,492
Land [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member] | Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member] | Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member] | Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 849 2,492
Land [Member] | Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Land [Member] | Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Commercial Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 92,773 32,135
Commercial Real Estate [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 3,094 3,119
Commercial Real Estate [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 84,786 23,975
Commercial Real Estate [Member] | Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 4,893 5,041
Commercial Real Estate [Member] | Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Commercial Real Estate [Member] | Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Commercial Real Estate [Member] | Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Commercial Real Estate [Member] | Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Other Assets [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 62,476 10,244
Other Assets [Member] | Commercial Real Estate [Member] | Owner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 19,366 6,465
Other Assets [Member] | Commercial Real Estate [Member] | Nonowner-Occupied [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 38,761 2,367
Other Assets [Member] | Other Commercial [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 3,174 528
Other Assets [Member] | Residential Real Estate [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 5 11
Other Assets [Member] | Construction & Land Development [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 1,170 873
Other Assets [Member] | Consumer [Member] | Bankcard [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral 0 0
Other Assets [Member] | Consumer [Member] | Other Consumer [Member]    
Amortized Cost Collateral Dependent Loans [Line Items]    
Amortized Cost Loans and Leases Pledged As Collateral $ 0 $ 0
v3.25.4
Credit Quality - Schedule of Risk Category of Loans by Class of Loans and Leases (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
Total $ 14,274,274 $ 11,881,005
Owner-Occupied [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 353,313  
2024 362,444 236,794
2023 205,602 132,095
2022 304,730 246,596
2021 278,290 225,152
2020   205,768
Prior 578,800 504,586
Revolving loans amortized cost basis 62,626 38,890
Revolving loans converted to term loans 116 121
Total 2,145,921 1,590,002
Owner-Occupied [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 353,313  
2024 362,198 236,547
2023 196,733 132,095
2022 301,328 243,103
2021 278,290 225,152
2020   205,461
Prior 555,204 467,417
Revolving loans amortized cost basis 51,711 29,900
Revolving loans converted to term loans 0 0
Total 2,098,777 1,539,675
Owner-Occupied [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 4,842 0
2022 0 0
2021 0 0
2020   0
Prior 3,727 15,199
Revolving loans amortized cost basis 2,695 8,545
Revolving loans converted to term loans 0 0
Total 11,264 23,744
Owner-Occupied [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 246 247
2023 4,027 0
2022 3,402 3,493
2021 0 0
2020   307
Prior 19,671 21,744
Revolving loans amortized cost basis 8,220 445
Revolving loans converted to term loans 116 121
Total 35,682 26,357
Owner-Occupied [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 198 226
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 198 226
Owner-Occupied [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior (228) (116)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (228) (116)
Owner-Occupied [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 14 15
2021 0 0
2020   0
Prior 304 1,168
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 318 1,183
Owner-Occupied [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 14 15
2021 0 0
2020   0
Prior 76 1,052
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 90 1,067
Nonowner-Occupied [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 1,630,768  
2024 856,235 741,996
2023 772,532 485,437
2022 2,018,312 1,635,973
2021 1,284,331 1,380,492
2020   669,226
Prior 1,615,761 1,844,378
Revolving loans amortized cost basis 165,581 182,061
Revolving loans converted to term loans 0 78
Total 8,343,520 6,939,641
Nonowner-Occupied [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 1,628,785  
2024 856,235 741,996
2023 760,043 485,437
2022 1,917,759 1,623,423
2021 1,165,300 1,294,232
2020   639,143
Prior 1,397,941 1,584,833
Revolving loans amortized cost basis 143,406 160,243
Revolving loans converted to term loans 0 78
Total 7,869,469 6,529,385
Nonowner-Occupied [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 1,983  
2024 0 0
2023 7,058 0
2022 51,603 8,465
2021 113,708 82,240
2020   29,940
Prior 120,213 210,912
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 294,565 331,557
Nonowner-Occupied [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 5,431 0
2022 48,950 4,085
2021 5,323 4,020
2020   143
Prior 97,607 48,633
Revolving loans amortized cost basis 22,175 21,818
Revolving loans converted to term loans 0 0
Total 179,486 78,699
Nonowner-Occupied [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 0
Nonowner-Occupied [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   (751)
Prior (35,798) (1,830)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (35,798) (2,581)
Nonowner-Occupied [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 160 200
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 160 200
Nonowner-Occupied [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   (751)
Prior (35,638) (1,630)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (35,638) (2,381)
Other Commercial Loans [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 628,602  
2024 375,820 403,928
2023 475,304 506,402
2022 221,616 398,128
2021 332,478 401,780
2020   165,757
Prior 627,305 549,716
Revolving loans amortized cost basis 1,123,661 925,651
Revolving loans converted to term loans 47 0
Total 3,784,833 3,351,362
Other Commercial Loans [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 628,597  
2024 373,700 403,641
2023 472,334 505,947
2022 214,442 378,072
2021 324,424 394,412
2020   164,671
Prior 600,824 519,488
Revolving loans amortized cost basis 1,117,879 912,293
Revolving loans converted to term loans 47 0
Total 3,732,247 3,278,524
Other Commercial Loans [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 5  
2024 431 81
2023 117 36
2022 949 1,129
2021 1,128 339
2020   251
Prior 9,012 18,941
Revolving loans amortized cost basis 458 4,652
Revolving loans converted to term loans 0 0
Total 12,100 25,429
Other Commercial Loans [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 1,689 206
2023 2,853 419
2022 6,225 18,927
2021 6,926 7,029
2020   835
Prior 17,469 11,262
Revolving loans amortized cost basis 5,324 8,706
Revolving loans converted to term loans 0 0
Total 40,486 47,384
Other Commercial Loans [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 25
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 25
Other Commercial Loans [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 (48) 0
2023 (150) (464)
2022 (229) (252)
2021 (1,625) (156)
2020   (148)
Prior (2,459) (1,352)
Revolving loans amortized cost basis (913) (1,217)
Revolving loans converted to term loans 0 0
Total (5,424) (3,589)
Other Commercial Loans [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 10
2023 27 67
2022 75 9
2021 32 45
2020   0
Prior 2,111 1,512
Revolving loans amortized cost basis 64 7
Revolving loans converted to term loans 0 0
Total 2,309 1,650
Other Commercial Loans [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 (48) 10
2023 (123) (397)
2022 (154) (243)
2021 (1,593) (111)
2020   (148)
Prior (348) 160
Revolving loans amortized cost basis (849) (1,210)
Revolving loans converted to term loans 0 0
Total (3,115) (1,939)
Residential Real Estate [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 746,665  
2024 428,121 407,812
2023 785,205 820,166
2022 1,608,513 1,617,541
2021 830,732 827,903
2020   396,094
Prior 1,164,513 986,122
Revolving loans amortized cost basis 534,353 449,196
Revolving loans converted to term loans 160 2,550
Total 6,098,262 5,507,384
Residential Real Estate [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 746,665  
2024 427,238 407,430
2023 784,994 820,059
2022 1,608,513 1,617,541
2021 822,932 827,395
2020   396,094
Prior 1,148,481 971,226
Revolving loans amortized cost basis 533,509 447,363
Revolving loans converted to term loans 160 2,467
Total 6,072,492 5,489,575
Residential Real Estate [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 476 382
2023 104 107
2022 0 0
2021 0 0
2020   0
Prior 4,048 2,466
Revolving loans amortized cost basis 637 1,326
Revolving loans converted to term loans 0 0
Total 5,265 4,281
Residential Real Estate [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 407 0
2023 107 0
2022 0 0
2021 7,800 508
2020   0
Prior 11,984 12,430
Revolving loans amortized cost basis 207 507
Revolving loans converted to term loans 0 83
Total 20,505 13,528
Residential Real Estate [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 0
Residential Real Estate [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 (67) 0
2023 (205) (7)
2022 (189) (2)
2021 (6) 0
2020   0
Prior (532) (359)
Revolving loans amortized cost basis 0 (113)
Revolving loans converted to term loans 0 0
Total (999) (481)
Residential Real Estate [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 2 5
2020   0
Prior 701 489
Revolving loans amortized cost basis 1 1
Revolving loans converted to term loans 0 0
Total 704 495
Residential Real Estate [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 (67) 0
2023 (205) (7)
2022 (189) (2)
2021 (4) 5
2020   0
Prior 169 130
Revolving loans amortized cost basis 1 (112)
Revolving loans converted to term loans 0 0
Total (295) 14
Construction & Land Development [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 1,031,756  
2024 995,673 628,186
2023 728,729 837,662
2022 401,845 1,254,935
2021 69,668 445,218
2020   20,223
Prior 37,481 20,508
Revolving loans amortized cost basis 305,750 302,302
Revolving loans converted to term loans 0 0
Total 3,570,902 3,509,034
Construction & Land Development [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 1,031,215  
2024 992,846 628,186
2023 693,752 837,662
2022 401,811 1,253,480
2021 65,460 426,662
2020   18,559
Prior 27,716 18,542
Revolving loans amortized cost basis 305,750 302,302
Revolving loans converted to term loans 0 0
Total 3,518,550 3,485,393
Construction & Land Development [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 2,827 0
2023 30,509 0
2022 0 1,455
2021 4,208 18,356
2020   57
Prior 8,281 153
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 45,825 20,021
Construction & Land Development [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 541  
2024 0 0
2023 4,468 0
2022 34 0
2021 0 200
2020   1,607
Prior 1,484 1,813
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 6,527 3,620
Construction & Land Development [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 0
Construction & Land Development [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 (141) 0
2022 0 0
2021 (103) 0
2020   0
Prior (164) (29)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (408) (29)
Construction & Land Development [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 225 319
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 225 319
Construction & Land Development [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 (141) 0
2022 0 0
2021 (103) 0
2020   0
Prior 61 290
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (183) 290
Bankcard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 9,686 9,998
Revolving loans converted to term loans 0 0
Total 9,686 9,998
Bankcard [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 9,603 9,874
Revolving loans converted to term loans 0 0
Total 9,603 9,874
Bankcard [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 28 63
Revolving loans converted to term loans 0 0
Total 28 63
Bankcard [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 55 61
Revolving loans converted to term loans 0 0
Total 55 61
Bankcard [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 0
Bankcard [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis (320) (431)
Revolving loans converted to term loans 0 0
Total (320) (431)
Bankcard [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 55 19
Revolving loans converted to term loans 0 0
Total 55 19
Bankcard [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis (265) (412)
Revolving loans converted to term loans 0 0
Total (265) (412)
Other Consumer [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 346,960  
2024 91,126 140,479
2023 80,262 133,095
2022 164,578 291,957
2021 62,245 128,069
2020   52,615
Prior 20,201 24,614
Revolving loans amortized cost basis 2,124 2,248
Revolving loans converted to term loans 0 0
Total 767,496 773,077
Other Consumer [Member] | Pass [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 346,057  
2024 90,623 139,908
2023 79,353 131,108
2022 157,220 276,041
2021 57,987 118,478
2020   49,553
Prior 18,929 22,913
Revolving loans amortized cost basis 2,104 2,215
Revolving loans converted to term loans 0 0
Total 752,273 740,216
Other Consumer [Member] | Special Mention [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 682  
2024 446 495
2023 821 1,805
2022 6,741 13,462
2021 3,794 8,485
2020   2,704
Prior 1,171 1,440
Revolving loans amortized cost basis 13 23
Revolving loans converted to term loans 0 0
Total 13,668 28,414
Other Consumer [Member] | Substandard [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 221  
2024 57 76
2023 88 182
2022 617 2,454
2021 464 1,106
2020   358
Prior 101 261
Revolving loans amortized cost basis 7 10
Revolving loans converted to term loans 0 0
Total 1,555 4,447
Other Consumer [Member] | Doubtful [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 0 0
2023 0 0
2022 0 0
2021 0 0
2020   0
Prior 0 0
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 0 0
Other Consumer [Member] | Current-period charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 (15)  
2024 (185) (28)
2023 (507) (206)
2022 (4,547) (5,724)
2021 (1,698) (3,096)
2020   (869)
Prior (783) (380)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total (7,735) (10,303)
Other Consumer [Member] | Current-period recoveries [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 0  
2024 7 0
2023 78 21
2022 642 402
2021 273 241
2020   125
Prior 429 330
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total 1,429 1,119
Other Consumer [Member] | Current-period net charge-offs [Member]    
Disclosure Details Of Loans And Leases By Risk Category [Line Items]    
2025 (15)  
2024 (178) (28)
2023 (429) (185)
2022 (3,905) (5,322)
2021 (1,425) (2,855)
2020   (744)
Prior (354) (50)
Revolving loans amortized cost basis 0 0
Revolving loans converted to term loans 0 0
Total $ (6,306) $ (9,184)
v3.25.4
Allowance for Credit Losses - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]        
Reserve for lending-related commitments $ 35,075,000 $ 35,075,000 $ 34,911,000 $ 44,706,000
Maximum Period Related To Accrual Of Interest On Discontinued Loans   90 days    
Accrued interest receivable net of allowance for credit loss $ 109,232,000 $ 109,232,000 102,412,000  
Allowance for credit losses at acquisition   $ 17,518,000 0 $ 0
Percentage Of Allowance For Loan And Lease Losses   9.44%    
Allowance for Loan and Lease Losses, Period Increase (Decrease)   $ 25,674,000    
UBSI Piedmont Bancorp [Member]        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Allowance for credit losses at acquisition   18,726,000    
Financing receivable non purchased with credit deterioration allowance for credit loss at acquisition date   17,518,000    
2027 [member]        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Percentage of projection for real GDP 2.00%      
Percentage of unemployment rate 4.20%      
2026 [Member]        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Percentage Points Increase In Unemployment Rate 4.40%      
Percentage points reduction in gdp projection. 2.30%      
Percentage of projection for real GDP 1.80%      
Accrued Income Receivable [Member]        
Financing Receivable, Allowance for Credit Losses [Line Items]        
Accrued interest receivable net of allowance for credit loss $ 95,960,000,000 $ 95,960,000,000 $ 87,062,000,000  
v3.25.4
Allowance for Credit Losses - Schedule Of Credit Losses Related To Accrued Interest Receivables and Written Off (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accrued Interest Receivables And Written Off Status [Line Items]    
Total $ 95,960 $ 87,062
Other Commercial [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 11,822 10,512
Residential Real Estate [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 21,643 21,662
Owner-Occupied [Member] | Commercial Real Estate [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 6,922 4,700
Nonowner-Occupied [Member] | Commercial Real Estate [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 37,086 30,582
Construction [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 16,046 17,174
Bankcard [Member] | Consumer [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable 0 0
Other Consumer [Member] | Consumer [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivable $ 2,441 $ 2,432
v3.25.4
Allowance for Credit Losses - Schedule of Accrued Interest Receivables Written off by Reversing Interest (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income $ 2,738 $ 2,375
Construction [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 267 23
Commercial Real Estate [Member] | Owner-occupied [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 90 186
Commercial Real Estate [Member] | Nonowner-occupied [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 1,481 853
Other Commercial [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 82 736
Residential Real Estate [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 577 232
Consumer [Member] | Bankcard [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income 0 0
Consumer [Member] | Other consumer [Member]    
Accrued Interest Receivables And Written Off Status [Line Items]    
Accrued Interest Receivables Written Off by Reversing Interest Income $ 241 $ 345
v3.25.4
Allowance for Credit Losses - Schedule of Allowance for Loan Losses and Carrying Amount of Loans (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance $ 271,844 $ 259,237  
Initial allowance for PCD loans (acquired during the period) 17,518 0 $ 0
Charge-offs (50,912) (17,530)  
Recoveries 5,200 4,985  
Provision 53,868 25,152 31,154
Allowance for Loan and Lease Losses Ending balance 297,518 271,844 259,237
Construction & Land Development [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 63,621 59,913  
Initial allowance for PCD loans (acquired during the period) 4,584    
Charge-offs (408) (29)  
Recoveries 225 319  
Provision (10,055) 3,418  
Allowance for Loan and Lease Losses Ending balance 57,967 63,621 59,913
Bank Card [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 891 810  
Initial allowance for PCD loans (acquired during the period) 0    
Charge-offs (320) (431)  
Recoveries 55 19  
Provision 263 493  
Allowance for Loan and Lease Losses Ending balance 889 891 810
Commercial Real Estate [Member] | Owner-Occupied [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 11,852 11,895  
Initial allowance for PCD loans (acquired during the period) 795    
Charge-offs (228) (116)  
Recoveries 318 1,183  
Provision 827 (1,110)  
Allowance for Loan and Lease Losses Ending balance 13,564 11,852 11,895
Commercial Real Estate [Member] | Nonowner-Occupied [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 74,522 57,935  
Initial allowance for PCD loans (acquired during the period) 11,059    
Charge-offs (35,798) (2,581)  
Recoveries 160 200  
Provision 46,773 18,968  
Allowance for Loan and Lease Losses Ending balance 96,716 74,522 57,935
Other Commercial [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 65,105 75,007  
Initial allowance for PCD loans (acquired during the period) 872    
Charge-offs (5,424) (3,589)  
Recoveries 2,309 1,650  
Provision (1,133) (7,963)  
Allowance for Loan and Lease Losses Ending balance 61,729 65,105 75,007
Residential Real Estate [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 46,373 41,167  
Initial allowance for PCD loans (acquired during the period) 208    
Charge-offs (999) (481)  
Recoveries 704 495  
Provision 7,663 5,192  
Allowance for Loan and Lease Losses Ending balance 53,949 46,373 41,167
Other Consumer [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan and Lease Losses Beginning balance 9,480 12,510  
Initial allowance for PCD loans (acquired during the period) 0    
Charge-offs (7,735) (10,303)  
Recoveries 1,429 1,119  
Provision 9,530 6,154  
Allowance for Loan and Lease Losses Ending balance $ 12,704 $ 9,480 $ 12,510
v3.25.4
Allowance for Credit Losses - Progression of Allowance for Credit Losses Including Allowance for Loan Losses and Reserve for Lending-Related Commitments (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]      
Balance of allowance for loan losses at beginning of period $ 271,844,000 $ 259,237,000 $ 234,746,000
Initial allowance for PCD loans (acquired during the period) 17,518,000 0 0
Gross charge-offs (50,912,000) (17,530,000) (11,304,000)
Recoveries 5,200,000 4,985,000 4,641,000
Net charge-offs (45,712,000) (12,545,000) (6,663,000)
Provision for loan and lease losses 53,868,000 25,152,000 31,154,000
Balance of allowance for loan losses at end of period 297,518,000 271,844,000 259,237,000
Reserve for lending-related commitments 35,075,000 34,911,000 44,706,000
Balance of allowance for credit losses at end of period $ 332,593,000 $ 306,755,000 $ 303,943,000
v3.25.4
Bank Premises and Equipment - Bank Premises and Equipment (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Bank premises and equipment, Gross $ 473,326 $ 422,268
Less allowance for depreciation and amortization (264,495) (236,137)
Bank premises and equipment 208,831 186,131
Land [Member]    
Property, Plant and Equipment [Line Items]    
Bank premises and equipment, Gross 69,573 62,506
Buildings and Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Bank premises and equipment, Gross 234,963 206,281
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Bank premises and equipment, Gross 45,727 43,971
Furniture, Fixtures and Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Bank premises and equipment, Gross $ 123,063 $ 109,510
v3.25.4
Bank Premises and Equipment - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 16,813,000 $ 15,709,000 $ 17,191,000
Amortization expense $ 328,000 $ 310,000 $ 310,000
v3.25.4
Leases - Additional Information (Detail)
Dec. 31, 2025
Lessee, Lease, Description [Line Items]  
Operating leases, option to extend term 5 years
Minimum [Member]  
Lessee, Lease, Description [Line Items]  
Operating lease remaining lease term 1 year
Maximum [Member]  
Lessee, Lease, Description [Line Items]  
Operating lease remaining lease term 15 years
v3.25.4
Leases - Components of Lease Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease cost $ 20,061 $ 20,367
Sublease income (213) (184)
Net lease cost $ 19,848 $ 20,183
v3.25.4
Leases - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease right-of-use assets $ 89,312 $ 81,742
Operating lease liabilities $ 95,392 $ 86,771
v3.25.4
Leases - Other Information Related to Leases (Detail)
Dec. 31, 2025
Weighted-average remaining lease term:  
Operating leases 7 years 7 months 2 days
Weighted-average discount rate:  
Operating leases 3.62%
v3.25.4
Leases - Supplemental Cash Flow Information Related to Leases (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts in the measurement of lease liabilities:      
Operating cash flows from operating leases $ 19,739 $ 19,900 $ 21,581
ROU assets obtained in the exchange for lease liabilities $ 18,673 $ 8,896 $ 33,403
v3.25.4
Leases - Maturities of Lease Liabilities by Year (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 18,633  
2027 17,451  
2028 15,279  
2029 13,147  
2030 10,861  
Thereafter 34,981  
Total lease payments 110,352  
Less: imputed interest (14,960)  
Total $ 95,392 $ 86,771
v3.25.4
Intangible Assets - Summary of Intangible Assets (Detail) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Goodwill not subject to amortization $ 2,018,848,000 $ 1,888,889,000
Core Deposit Intangible Assets [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 137,929,000 105,165,000
Accumulated Amortization (105,662,000) (96,299,000)
Community Banking [Member]    
Finite-Lived Intangible Assets [Line Items]    
Goodwill not subject to amortization 2,018,848,000 1,888,889,000
Community Banking [Member] | Core Deposit Intangible Assets [Member]    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 137,929,000 105,165,000
Accumulated Amortization $ (105,662,000) $ (96,299,000)
v3.25.4
Intangible Assets - Schedule of Reconciliation of Goodwill (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Goodwill at December 31, 2024 $ 1,888,889,000    
Addition to goodwill from Piedmont acquisition 129,959,000 $ 0 $ 0
Goodwill at December 31, 2025 2,018,848,000 1,888,889,000  
Community Banking [Member]      
Goodwill [Line Items]      
Goodwill at December 31, 2024 1,888,889,000    
Addition to goodwill from Piedmont acquisition 129,959,000    
Goodwill at December 31, 2025 $ 2,018,848,000 $ 1,888,889,000  
v3.25.4
Intangible Assets - Schedule of Anticipated Amortization Expense (Detail)
$ in Thousands
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 7,351
2027 5,060
2028 4,003
2029 3,518
2030 3,086
2031 and thereafter $ 9,249
v3.25.4
Deposits - Summary of Book Value of Deposits (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deposits [Abstract]    
Noninterest-bearing accounts $ 6,573,630 $ 6,135,413
Interest-bearing transaction accounts 6,657,771 5,936,925
Regular savings 1,265,334 1,250,295
Interest-bearing money market accounts 7,835,796 7,056,897
Time deposits under $100,000 1,363,881 1,172,462
Time deposits over $100,000 3,364,527 2,409,867
Total deposits $ 27,060,939 $ 23,961,859
v3.25.4
Deposits - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deposits [Line Items]      
Time deposits over $250,000 $ 1,724,739,000 $ 1,115,748,000  
Deposits 27,060,939,000 23,961,859,000  
Subsidiaries [Member]      
Deposits [Line Items]      
Deposits 32,822,000 34,197,000  
Deposits [Member]      
Deposits [Line Items]      
Interest paid $ 552,108,000 $ 537,661,000 $ 377,008,000
v3.25.4
Short-Term Borrowings - Short-Term Borrowings and the Related Weighted-Average Interest Rates (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Short-Term Debt [Line Items]    
Short-term borrowings $ 198,573 $ 176,090
Federal Funds Purchased [Member]    
Short-Term Debt [Line Items]    
Short-term borrowings 0 0
Securities Sold Under Agreements to Repurchase [Member]    
Short-Term Debt [Line Items]    
Short-term borrowings $ 198,573 $ 176,090
v3.25.4
Short-Term Borrowings - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]      
Unused lines of credit $ 280,000,000    
Short-Term Borrowings [Member]      
Short-term Debt [Line Items]      
Interest paid 5,786,000 $ 8,063,000 $ 6,390,000
Unrelated Financial Institution [Member]      
Short-term Debt [Line Items]      
Unused lines of credit $ 20,000,000    
Renewal period of line of credit 360 days    
Amount of outstanding balance under line of credit $ 0    
v3.25.4
Long-Term Borrowings - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2025
Debt Instrument [Line Items]        
Carrying value of loans pledged as collateral for FHLB advances $ 24,411,604,000 $ 21,401,649,000    
Unused borrowing amount       $ 9,192,225,000
FHLB advances 250,000,000 260,199,000    
Outstanding balances of debentures $ 281,817,000 280,221,000    
Maximum time to defer payment of interest on subordinate debt 5 years      
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances $ 250,000,000 260,199,000    
Two Thousand And Twenty Five [Member]        
Debt Instrument [Line Items]        
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances 250,000,000      
Long-Term Borrowings [Member]        
Debt Instrument [Line Items]        
Interest paid 23,726,000 $ 44,911,000 $ 84,775,000  
Federal Home Loan Bank Borrowings [Member] | Federal Home Loan Bank Advances [Member]        
Debt Instrument [Line Items]        
Carrying value of loans pledged as collateral for FHLB advances $ 8,163,013,000      
v3.25.4
Long-Term Borrowings - FHLB Advances and Related Weighted Average Interest Rates (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
FHLB advances, Amount $ 250,000 $ 260,199
FHLB advances, Weighted-Average Contractual Rate 4.05% 4.62%
FHLB advances, Weighted-Average Effective Rate 0.59% 0.63%
v3.25.4
Long -Term Borrowings - Information Related to Statutory Trusts (Detail)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
United Statutory Trust III [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 17, 2003
Amount of Capital Securities Issued $ 20,000
Stated Interest Rate 3-month CME Term SOFR + 2.85%
Maturity Date Dec. 17, 2033
United Statutory Trust IV [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 19, 2003
Amount of Capital Securities Issued $ 25,000
Stated Interest Rate 3-month CME Term SOFR + 2.85%
Maturity Date Jan. 23, 2034
United Statutory Trust V [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Jul. 12, 2007
Amount of Capital Securities Issued $ 50,000
Stated Interest Rate 3-month CME Term SOFR + 1.55%
Maturity Date Oct. 01, 2037
United Statutory Trust VI [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Sep. 20, 2007
Amount of Capital Securities Issued $ 30,000
Stated Interest Rate 3-month CME Term SOFR + 1.30%
Maturity Date Dec. 15, 2037
Premier Statutory Trust II [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Sep. 25, 2003
Amount of Capital Securities Issued $ 6,000
Stated Interest Rate 3-month CME Term SOFR + 3.10%
Maturity Date Oct. 08, 2033
Premier Statutory Trust III [Member]  
Variable Interest Entity [Line Items]  
Issuance Date May 16, 2005
Amount of Capital Securities Issued $ 8,000
Stated Interest Rate 3-month CME Term SOFR + 1.74%
Maturity Date Jun. 15, 2035
Premier Statutory Trust IV [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Jun. 20, 2006
Amount of Capital Securities Issued $ 14,000
Stated Interest Rate 3-month CME Term SOFR + 1.55%
Maturity Date Sep. 23, 2036
Premier Statutory Trust V [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 14, 2006
Amount of Capital Securities Issued $ 10,000
Stated Interest Rate 3-month CME Term SOFR + 1.61%
Maturity Date Mar. 01, 2037
Centra Statutory Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Sep. 20, 2004
Amount of Capital Securities Issued $ 10,000
Stated Interest Rate 3-month CME Term SOFR + 2.29%
Maturity Date Sep. 20, 2034
Centra Statutory Trust II [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Jun. 15, 2006
Amount of Capital Securities Issued $ 10,000
Stated Interest Rate 3-month CME Term SOFR + 1.65%
Maturity Date Jul. 07, 2036
VCBI Capital Trust II [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 19, 2002
Amount of Capital Securities Issued $ 15,000
Stated Interest Rate 6-month CME Term SOFR + 3.30%
Maturity Date Dec. 19, 2032
VCBI Capital Trust III [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 20, 2005
Amount of Capital Securities Issued $ 25,000
Stated Interest Rate 3-month CME Term SOFR + 1.42%
Maturity Date Feb. 23, 2036
Cardinal Statutory Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Jul. 27, 2004
Amount of Capital Securities Issued $ 20,000
Stated Interest Rate 3-month CME Term SOFR + 2.40%
Maturity Date Sep. 15, 2034
UFBC Capital Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 30, 2004
Amount of Capital Securities Issued $ 5,000
Stated Interest Rate 3-month CME Term SOFR + 2.10%
Maturity Date Mar. 15, 2035
Carolina Financial Capital Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 19, 2002
Amount of Capital Securities Issued $ 5,000
Stated Interest Rate Prime + 0.50%
Maturity Date Dec. 31, 2032
Carolina Financial Capital Trust II [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Nov. 05, 2003
Amount of Capital Securities Issued $ 10,000
Stated Interest Rate 3-month CME Term SOFR + 3.05%
Maturity Date Jan. 07, 2034
Greer Capital Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Oct. 12, 2004
Amount of Capital Securities Issued $ 6,000
Stated Interest Rate 3-month CME Term SOFR + 2.20%
Maturity Date Oct. 18, 2034
Greer Capital Trust II [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 28, 2006
Amount of Capital Securities Issued $ 5,000
Stated Interest Rate 3-month CME Term SOFR + 1.73%
Maturity Date Jan. 30, 2037
First South Preferred Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Sep. 26, 2003
Amount of Capital Securities Issued $ 10,000
Stated Interest Rate 3-month CME Term SOFR + 2.95%
Maturity Date Sep. 30, 2033
BOE Statutory Trust I [Member]  
Variable Interest Entity [Line Items]  
Issuance Date Dec. 12, 2003
Amount of Capital Securities Issued $ 4,000
Stated Interest Rate 3-month CME Term SOFR + 3.00%
Maturity Date Dec. 12, 2033
v3.25.4
Long -Term Borrowings - Information Related to Statutory Trusts Parenthetical (Detail)
 12 Months Ended
Dec. 31, 2024
3-month [Member]  
Variable Interest Entity [Line Items]  
Debt instrument, basis spread on variable rate 0.26161%
6-month [Member]  
Variable Interest Entity [Line Items]  
Debt instrument, basis spread on variable rate 0.42826%
v3.25.4
Long -Term Borrowings - Debentures and Related Weighted Average Interest Rates (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Amount $ 281,817 $ 280,221
Weighted-Average Rate 6.19% 6.88%
United Statutory Trust III [Member]    
Debt Instrument [Line Items]    
Amount $ 20,619 $ 20,619
Weighted-Average Rate 6.82% 7.46%
United Statutory Trust IV [Member]    
Debt Instrument [Line Items]    
Amount $ 25,774 $ 25,774
Weighted-Average Rate 6.95% 7.70%
United Statutory Trust V [Member]    
Debt Instrument [Line Items]    
Amount $ 51,547 $ 51,547
Weighted-Average Rate 5.80% 6.40%
United Statutory Trust VI [Member]    
Debt Instrument [Line Items]    
Amount $ 30,928 $ 30,928
Weighted-Average Rate 5.28% 5.92%
Premier Statutory Trust II [Member]    
Debt Instrument [Line Items]    
Amount $ 6,186 $ 6,186
Weighted-Average Rate 7.27% 8.02%
Premier Statutory Trust III [Member]    
Debt Instrument [Line Items]    
Amount $ 8,248 $ 8,248
Weighted-Average Rate 5.72% 6.95%
Premier Statutory Trust IV [Member]    
Debt Instrument [Line Items]    
Amount $ 14,433 $ 14,433
Weighted-Average Rate 5.50% 6.15%
Premier Statutory Trust V [Member]    
Debt Instrument [Line Items]    
Amount $ 10,310 $ 10,310
Weighted-Average Rate 5.66% 6.37%
Centra Statutory Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 10,000 $ 10,000
Weighted-Average Rate 6.25% 6.91%
Centra Statutory Trust II [Member]    
Debt Instrument [Line Items]    
Amount $ 10,000 $ 10,000
Weighted-Average Rate 5.82% 6.57%
Virginia Commerce Trust II [Member]    
Debt Instrument [Line Items]    
Amount $ 13,857 $ 13,627
Weighted-Average Rate 7.34% 8.31%
Virginia Commerce Trust III [Member]    
Debt Instrument [Line Items]    
Amount $ 20,425 $ 19,899
Weighted-Average Rate 5.56% 6.20%
Cardinal Statutory Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 17,209 $ 16,812
Weighted-Average Rate 6.38% 7.02%
UFBC Capital Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 4,182 $ 4,076
Weighted-Average Rate 6.08% 6.72%
Carolina Financial Capital Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 5,058 $ 5,046
Weighted-Average Rate 7.25% 8.00%
Carolina Financial Capital Trust II [Member]    
Debt Instrument [Line Items]    
Amount $ 9,706 $ 9,641
Weighted-Average Rate 7.22% 7.97%
Greer Capital Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 5,492 $ 5,419
Weighted-Average Rate 6.35% 7.09%
Greer Capital Trust II [Member]    
Debt Instrument [Line Items]    
Amount $ 4,360 $ 4,275
Weighted-Average Rate 5.83% 6.58%
First South Preferred Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 9,656 $ 9,587
Weighted-Average Rate 6.90% 7.54%
BOE Statutory Trust I [Member]    
Debt Instrument [Line Items]    
Amount $ 3,827 $ 3,794
Weighted-Average Rate 6.93% 7.59%
v3.25.4
Long -Term Borrowings - Schedule of Maturities of Long-term Borrowings (Detail)
$ in Thousands
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 250,000
2027 0
2028 0
2029 0
2030 0
2031 and thereafter 281,817
Total $ 531,817
v3.25.4
Other Expense - Other Expense (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]      
Legal, consulting & other professional services $ 29,444 $ 24,330 $ 25,604
Franchise & other taxes not on income 18,345 16,916 16,202
Expense for reserve on lending-related commitments 164 9,795 1,483
Automated Teller Machine ("ATM") expenses 13,485 11,885 10,914
Amortization of income tax credits $ 17,886 $ 15,277 $ 15,238
v3.25.4
Income Taxes - Income Tax Provisions Included in the Consolidated Statements of Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current expense:                      
Federal                 $ 85,133 $ 77,347 $ 84,441
State                 17,019 17,604 15,972
Total current income tax expense                 102,152 94,951 100,413
Deferred expense (benefit):                      
Federal                 11,764 334 (2,053)
State                 4,881 (3,702) (868)
Total deferred income tax expense (benefit)                 16,645 (3,368) (2,921)
Total income taxes $ 31,068 $ 33,735 $ 31,367 $ 22,627 $ 26,651 $ 24,649 $ 18,878 $ 21,405 $ 118,797 $ 91,583 $ 97,492
v3.25.4
Income Taxes - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Taxes [Line Items]      
Federal income tax (benefit) expense applicable to sales and calls of securities   $ 2,456,000 $ 1,608,000
State net operating loss carryforwards $ 2,724,000    
Valuation allowance recorded 0 0  
Accrued interest related to uncertain tax positions 0 651,000  
Interest or penalties were recognized 0 $ 0 $ 0
Deferred Tax Assets, Operating Loss Carryforwards, State and Local $ 1,406,000    
v3.25.4
Income Taxes - Reconciliation of Income Tax Expense to the Amount Computed by Applying the Statutory Federal Income Tax Rate (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]                      
Tax on income before taxes at statutory federal rate                 $ 122,514 $ 97,562 $ 97,399
Tax Jurisdiction of Domicile [Extensible Enumeration]                 State and Local Jurisdiction [Member] State and Local Jurisdiction [Member] State and Local Jurisdiction [Member]
State income taxes net of federal tax benefits                 $ 17,137 $ 13,591 $ 11,847
Low income housing (Amount)                 (19,030) (15,814) (13,557)
Other (Amount)                 (1,303) (706) (1,639)
Nontaxable and nondeductible items (Amount)                 (2,301) (2,439) (2,974)
Other                 1,780 (611) 6,416
Total income taxes $ 31,068 $ 33,735 $ 31,367 $ 22,627 $ 26,651 $ 24,649 $ 18,878 $ 21,405 $ 118,797 $ 91,583 $ 97,492
Tax on income before taxes at statutory federal rate, rate                 21.00% 21.00% 21.00%
State income taxes net of federal tax benefits, rate                 2.90% 2.90% 2.60%
Low income housing (Percent)                 (3.30%) (3.40%) (2.90%)
Other (Percent)                 (0.20%) (0.10%) (0.40%)
Nontaxable and nondeductible items (Percent)                 (0.40%) (0.50%) (0.60%)
Other (Percent)                 0.40% (0.20%) 1.30%
Income taxes, rate                 20.40% 19.70% 21.00%
v3.25.4
Income Taxes - Components of United's Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Allowance for credit losses $ 79,490 $ 73,315
Accrued benefits payable 16,514 20,256
Other accrued liabilities 603 1,857
Unrealized loss on securities available for sale 49,091 77,189
Other real estate owned 122 127
Lease liabilities under operating leases 22,799 20,738
Income tax credit carryforward 1,406 4,415
Deferred mortgage points 1,465 425
Net operating loss carryforwards 2,724 0
Purchase accounting intangibles 1,159 0
Total deferred tax assets 175,373 198,322
Deferred tax liabilities:    
Premises and equipment 8,937 8,307
Right-of-use assets under operating leases 21,345 19,536
Pension plan accruals 13,050 10,743
Derivatives 7,367 10,487
Purchase accounting intangibles 0 6,626
Other 1,584 1,063
Total deferred tax liabilities 52,283 56,762
Net deferred tax assets $ 123,090 $ 141,560
v3.25.4
Income Taxes - Reconciliation of the Total Amounts of Unrecognized Tax Benefits (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Unrecognized tax benefits at beginning of year $ 2,144 $ 2,599
Increase in unrecognized tax benefits as a result of tax positions taken during the current period 956 323
Decreases in the unrecognized tax benefits as a result of a lapse of the applicable statute of limitations (2,144) (778)
Unrecognized tax benefits at end of year $ 956 $ 2,144
v3.25.4
Income Taxes - Schedule Of Disaggregation Of Income Taxes Paid Net Of Refunds (Parenthetical) (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Taxes [Line Items]      
Income Tax Credits and Adjustments $ 11,680 $ 1,636  
Income Taxes Paid, Net $ 114,463 $ 86,221 $ 105,460
Percentage Of Income Tax Paid Net 5.00% 5.00% 5.00%
Maryland [Member]      
Income Taxes [Line Items]      
Income Taxes Paid, Net $ 5,950 $ 6,150  
West Virginia [Member]      
Income Taxes [Line Items]      
Income Taxes Paid, Net $ 9,000   $ 6,851
v3.25.4
Income Taxes - Schedule Of Disaggregation Of Income Taxes Paid Net Of Refunds (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation Of Income Taxes Paid Net Of Refunds [Line Items]      
Total income taxes paid, net of refunds $ 114,463 $ 86,221 $ 105,460
State and Local Jurisdiction [Member]      
Disaggregation Of Income Taxes Paid Net Of Refunds [Line Items]      
State and local 24,663 [1] 15,814 [2] 15,960 [3]
Domestic Tax Jurisdiction [Member]      
Disaggregation Of Income Taxes Paid Net Of Refunds [Line Items]      
Federal $ 89,800 $ 70,407 $ 89,500
[1] For the year ended December 31, 2025, income taxes paid to West Virginia of $9,000 and Maryland of $5,950 exceeded 5% of total income taxes paid.
[2] For the year ended December 31, 2024, income taxes paid to Maryland of $6,150 exceeded 5% of total income taxes paid.
[3] For the year ended December 31, 2023, income taxes paid to West Virginia of $6,851 exceeded 5% of total income taxes paid.
v3.25.4
Employee Benefit Plans - Additional Information (Detail) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]        
Unrecognized actuarial gains (losses), before tax   $ 10,725,000,000    
Amount of United common stock held in the pension plan   $ 197,381,000 $ 183,035,000 $ 173,840,000
Percentage of projected benefit obligation   10.00%    
Minimum number of days required to be eligible for the participation in the plan   90 days    
Percentage of salary deferred under condition one of contribution by company 100.00%      
First percentage of salary deferred under condition one of contribution by company 5.00%      
Vesting percentage of employee deferrals 100.00%      
Cost related to savings and stock investment plan   $ 7,829,000 $ 7,332,000 7,590,000
Employer contribution in shares of common stock   1,879,671 1,810,400  
Dividends paid on United common stock   $ 2,755,000 $ 2,727,000 $ 2,468,000
Minimum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage allowed as of contribution to respective accounts by participants 1.00%      
Maximum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage allowed as of contribution to respective accounts by participants 100.00%      
Equity Securities [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Amount of United common stock held in the pension plan   $ 4,064,000 3,974,000  
Maximum percentage limit of common stock to invest in portfolio for any industry   47.00%    
Approximate fair value of plan assets   $ 72,179,000 $ 67,981,000  
Equity Securities [Member] | Minimum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage limit of common stock to invest in portfolio for any industry   20.00%    
Equity Securities [Member] | Maximum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage limit of common stock to invest in portfolio for any industry   70.00%    
Individual Company [Member] | Maximum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage limit of common stock to invest in portfolio for any industry   10.00%    
Industry [Member] | Maximum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage limit of common stock to invest in portfolio for any industry   15.00%    
Securities of U.S. Government or Agencies [Member] | Maximum [Member]        
Defined Benefit Plan Disclosure [Line Items]        
Maximum percentage limit of common stock to invest in portfolio for any industry   15.00%    
v3.25.4
Employee Benefit Plans - Net Periodic Pension Cost (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 1,293 $ 1,387 $ 1,440
Interest cost $ 7,427 6,967 7,134
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest Expense, Deposits    
Expected return on plan assets $ (11,046) (10,659) (11,762)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and Dividend Income, Operating    
Amortization of net actuarial loss $ 69 2,315 3,347
Net periodic pension cost (income) $ (2,257) $ 10 $ 159
Weighted-Average Assumptions:      
Discount rate 5.76% 5.07% 5.26%
Expected return on assets 6.15% 6.25% 7.25%
Prior to Age 40 [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase 6.00% 5.00% 5.00%
Ages 40-49 [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase 5.50%    
Ages 40-54 [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase   4.00% 4.00%
Ages 50-54 [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase 5.00%    
Ages 55-64 [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase 4.00%    
Otherwise [Member]      
Weighted-Average Assumptions:      
Rate of Compensation increase 3.00% 3.50% 3.50%
v3.25.4
Employee Benefit Plans - Schedule of Amounts Related to Plan recognized as Component of Other Comprehensive Income (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Net actuarial gain $ (7,089) $ (12,348) $ (2,635)
Amortization of actuarial loss (69) (2,315) (3,347)
Total recognized in other comprehensive income $ (7,158) $ (14,663) $ (5,982)
v3.25.4
Employee Benefit Plans - Reconciliation of the Beginning and Ending Balances of the Projected Benefit Obligation and the Fair Value of Plan Assets and the Accumulated Benefit Obligation (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Change in Projected Benefit Obligation      
Projected Benefit Obligation at the Beginning of the Year $ 137,847 $ 143,306  
Service cost 1,293 1,387 $ 1,440
Interest cost 7,427 6,967 7,134
Actuarial (Gain) Loss 3,088 (7,506)  
Benefits Paid (6,877) (6,307)  
Projected Benefit Obligation at the End of the Year 142,778 137,847 143,306
Accumulated Benefit Obligation at the End of the Year 130,900 125,429  
Change in Plan Assets      
Fair Value of Plan Assets at the Beginning of the Year 183,035 173,840  
Actual Return on Plan Assets 21,223 15,502  
Benefits Paid (6,877) (6,307)  
Fair Value of Plan Assets at End of Year 197,381 183,035 $ 173,840
Net Amount Recognized      
Funded Status 54,603 45,187  
Unrecognized Actuarial Net Loss 10,725 17,884  
Net Amount Recognized $ 65,328 $ 63,071  
Weighted-Average Assumptions at the End of the Year      
Discount Rate 5.66% 5.76%  
Prior to Age 40 [Member]      
Weighted-Average Assumptions at the End of the Year      
Rate of Compensation Increase 6.00% 6.00%  
Ages 40-49 [Member]      
Weighted-Average Assumptions at the End of the Year      
Rate of Compensation Increase 5.50% 5.50%  
Ages 50-54 [Member]      
Weighted-Average Assumptions at the End of the Year      
Rate of Compensation Increase 5.00% 5.00%  
Ages 40-54 [Member]      
Weighted-Average Assumptions at the End of the Year      
Rate of Compensation Increase 4.00% 4.00%  
Ages 55-64 [Member]      
Weighted-Average Assumptions at the End of the Year      
Rate of Compensation Increase 3.00% 3.00%  
v3.25.4
Employee Benefit Plans - Asset Allocation for the Defined Benefit Pension Plan as of the Measurement Date, by Asset Category (Detail)
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Percentage of Plan Assets 100.00% 100.00%
Equity Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 47.00%  
Percentage of Plan Assets 54.00% 56.00%
Fixed Income Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 43.00%  
Percentage of Plan Assets 42.00% 41.00%
Other [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 10.00%  
Percentage of Plan Assets 4.00% 3.00%
Minimum [Member] | Equity Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 20.00%  
Minimum [Member] | Fixed Income Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 20.00%  
Minimum [Member] | Other [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 0.00%  
Maximum [Member] | Equity Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 70.00%  
Maximum [Member] | Fixed Income Securities [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 50.00%  
Maximum [Member] | Other [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Target Allocation 25.00%  
v3.25.4
Employee Benefit Plans - Expected Benefit Payments (Detail)
$ in Thousands
Dec. 31, 2025
USD ($)
Retirement Benefits [Abstract]  
2026 $ 7,433
2027 7,786
2028 8,265
2029 8,648
2030 9,000
2031 through 2035 $ 48,551
v3.25.4
Employee Benefit Plans - Balances of the Plan Assets, by Fair Value Hierarchy Level (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value $ 197,381 $ 183,035 $ 173,840
Cash and Cash Equivalents [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 6,505 5,829  
U.S. Government and Agencies [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 29,982 24,874  
Mortgage Backed Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 7,705 6,588  
Collateralized Mortgage Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value   623  
Municipal Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 631 707  
Corporate Bonds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 9,300 8,394  
General [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 36,667 33,537  
Common Stock [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 20,187 19,539  
Equity Mutual Funds Domestic Equity Large Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 38,185 37,990  
Equity Mutual Funds Domestic Equity Small Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 13,273 13,332  
Equity Mutual Funds Alternative Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 17,500 16,145  
Equity Mutual Funds International Emerging Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 4,304 3,993  
Equity Mutual Funds International Equity Developed [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 13,142 11,484  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 143,258 183,035  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash and Cash Equivalents [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 5,829  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government and Agencies [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 24,874  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage Backed Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 6,588  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized Mortgage Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value   623  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 707  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Bonds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 8,394  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | General [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 36,667 33,537  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Common Stock [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 20,187 19,539  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds Domestic Equity Large Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 38,185 37,990  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds Domestic Equity Small Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 13,273 13,332  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds Alternative Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 17,500 16,145  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds International Emerging Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 4,304 3,993  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds International Equity Developed [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 13,142 11,484  
Significant Other Observable Inputs (Level 2) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 54,123 0  
Significant Other Observable Inputs (Level 2) [Member] | Cash and Cash Equivalents [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 6,505 0  
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government and Agencies [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 29,982 0  
Significant Other Observable Inputs (Level 2) [Member] | Mortgage Backed Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 7,705 0  
Significant Other Observable Inputs (Level 2) [Member] | Collateralized Mortgage Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value   0  
Significant Other Observable Inputs (Level 2) [Member] | Municipal Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 631 0  
Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 9,300 0  
Significant Other Observable Inputs (Level 2) [Member] | General [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Other Observable Inputs (Level 2) [Member] | Common Stock [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Other Observable Inputs (Level 2) [Member] | Equity Mutual Funds Domestic Equity Large Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Other Observable Inputs (Level 2) [Member] | Equity Mutual Funds Domestic Equity Small Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Other Observable Inputs (Level 2) [Member] | Equity Mutual Funds International Emerging Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Other Observable Inputs (Level 2) [Member] | Equity Mutual Funds International Equity Developed [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Cash and Cash Equivalents [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government and Agencies [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Mortgage Backed Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Collateralized Mortgage Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value   0  
Significant Unobservable Inputs (Level 3) [Member] | Municipal Obligations [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | General [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Common Stock [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Equity Mutual Funds Domestic Equity Large Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Equity Mutual Funds Domestic Equity Small Cap [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Equity Mutual Funds International Emerging Equity [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value 0 0  
Significant Unobservable Inputs (Level 3) [Member] | Equity Mutual Funds International Equity Developed [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Asset at fair value $ 0 $ 0  
v3.25.4
Stock Based Compensation - Additional Information (Detail) - USD ($)
 12 Months Ended
May 14, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Authorized shares of stock, option plan, maximum 3,000,000      
Vesting period of awards   1/3 per year    
Number of Options granted   0    
Recognition of compensation expense   $ 13,089,000 $ 12,130,000 $ 12,463,000
Number of share available for grant for prior plans   0    
Maximum term for awards granted (years)   10 years    
Cash received from options exercised under the plans   $ 751,000 $ 5,274,000 1,750,000
Shares issued related stock option exercises   36,612 183,888  
Total intrinsic value of options exercised   $ 453,000 $ 1,881,000 947,000
Excess tax benefits from stock-based compensation arrangements   $ 83,000 $ 258,000 $ 128,000
Equity Incentive Plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage 5.00%      
Restricted Stock [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of shares granted   184,515    
Total unrecognized compensation cost related to nonvested option awards   $ 7,097,000    
Weighted-average expense recognition period   10 months 24 days    
Vesting period   3 years    
Restricted Stock [Member] | 2025 Equity incentive plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of Options granted   0    
Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of Options granted   256,385    
Number of shares granted   256,385    
Total unrecognized compensation cost related to nonvested option awards   $ 9,572,000    
Weighted-average expense recognition period   1 year 2 months 12 days    
Restricted Stock Units (RSUs) [Member] | 2025 Equity incentive plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of Options granted   0    
Employee Stock Option [Member] | 2025 Equity incentive plan [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of Options granted   0    
v3.25.4
Stock Based Compensation - Summary of Stock Option Plans (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Disclosure Stock Based Compensation Stock Option Plan [Abstract]      
Shares, Outstanding, Beginning balance 1,049,668 1,049,668  
Shares, Exercised   (36,612) (183,888)
Shares, Forfeited or expired   (103,540)  
Shares, Outstanding, Ending balance   909,516 1,049,668
Shares, Exercisable at December 31, 2023   909,516  
Aggregate Intrinsic Value, Outstanding at December 31, 2023   $ 3,057  
Aggregate Intrinsic Value, Exercisable at December 31, 2023   $ 3,057  
Weighted Average Remaining Contractual Term, Outstanding at December 31, 2023 2 years 7 months 6 days    
Weighted Average Remaining Contractual Term, Exercisable at December 31, 2023   2 years 7 months 6 days  
Weighted Average Exercise Price, Outstanding, Beginning balance $ 36.29 $ 36.29  
Weighted Average Exercise Price, Exercised   26.07  
Weighted Average Exercise Price, Forfeited or expired   35.62  
Weighted Average Exercise Price, Outstanding, Ending balance   36.78 $ 36.29
Weighted Average Exercise Price, Exercisable   $ 36.78  
v3.25.4
Stock Based Compensation - Status of United's Nonvested Stock Option Awards (Detail)
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Shares, Nonvested, Beginning balance 310,027
Shares, Granted 0
Weighted-Average Grant Date Fair Value Per Share, Nonvested Beginning balance | $ / shares $ 36.58
Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Shares, Nonvested, Beginning balance 490,119
Shares, Granted 256,385
Shares, Vested (148,597)
Shares, Forfeited or expired (2,422)
Shares, Nonvested, Ending balance 595,485
Weighted-Average Grant Date Fair Value Per Share, Nonvested Beginning balance | $ / shares $ 35.41
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares 35.35
Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares 35.81
Weighted-Average Grant Date Fair Value Per Share, Forfeited or expired | $ / shares 36.26
Weighted-Average Grant Date Fair Value Per Share, Nonvested Ending balance | $ / shares $ 35.28
v3.25.4
Stock Based Compensation - Changes to United's Restricted Common Shares (Detail) - Restricted Stock [Member]
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of Shares, Outstanding, Beginning balance | shares 325,427
Shares, Granted | shares 184,515
Shares, Vested | shares (152,433)
Shares, Forfeited | shares (16,682)
Weighted-Average Grant Date Fair Value Per Share, Outstanding, Beginning balance | $ / shares $ 36.52
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares 36.77
Weighted-Average Grant Date Fair Value Per Share, Vested | $ / shares 36.94
Weighted-Average Grant Date Fair Value Per Share, Forfeited | $ / shares $ 36.54
v3.25.4
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Loan commitments outstanding $ 6,408,827,000 $ 5,886,473,000
Loan commitments expiry period 1 year  
Commercial Letters of Credit [Member]    
Loss Contingencies [Line Items]    
Letters of credit issued $ 2,762,000 15,546,000
Standby Letters of Credit [Member]    
Loss Contingencies [Line Items]    
Letters of credit issued $ 166,885,000 $ 148,874,000
v3.25.4
Derivative Financial Instruments - Additional information (Detail) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2020
Derivative [Line Items]      
Derivative liabilities notional amount $ 33,882,000 $ 3,186,000  
Derivative Asset, Notional Amount 286,493,000 $ 337,149,000  
Interest Rate Cash Flow Hedge [Member]      
Derivative [Line Items]      
Derivative Asset, Notional Amount 250,000,000    
Federal Home Loan Bank Borrowings [Member]      
Derivative [Line Items]      
Fair value of interest rate swaps liability net 0    
Federal Home Loan Bank Borrowings [Member] | Interest Rate Cash Flow Hedge [Member]      
Derivative [Line Items]      
Derivative liabilities notional amount     $ 500,000,000
Cash flow hedge reclassification amount to be reclassified from aoci to income in the next twelve months $ 7,378,000    
v3.25.4
Derivative Financial Instruments - Schedule of Notional Amount and Fair Value Derivative Financial Instruments (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Asset derivatives, notional amount $ 286,493 $ 337,149
Liability derivatives, notional amount 33,882 3,186
Total asset derivatives 789 1,261
Liability derivatives not designated as hedging instruments 70 20
Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 259,466 260,770
Asset derivatives not designated as hedging instruments 316 644
Not Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 27,027 76,379
Liability derivatives, notional amount 33,882 3,186
Asset derivatives not designated as hedging instruments 473 617
Liability derivatives not designated as hedging instruments 70 20
Fair Value Hedging [Member] | Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 9,466 10,770
Asset derivatives designated as hedging instruments 316 644
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 250,000 250,000
Asset derivatives designated as hedging instruments 0 0
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | TBA Mortgage Backed Securities [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 0 54,826
Asset derivatives not designated as hedging instruments 0 278
Other Assets [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Lock Commitments [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 23,046 21,553
Asset derivatives not designated as hedging instruments 458 339
Other Liabilities [Member] | TBA Mortgage Backed Securities [Member]    
Derivative [Line Items]    
Liability derivatives not designated as hedging instruments 70 0
Other Liabilities [Member] | Not Designated as Hedging Instrument [Member] | TBA Mortgage Backed Securities [Member]    
Derivative [Line Items]    
Liability derivatives, notional amount 33,882 0
Interest Rate Swap Contracts [Member] | Other Assets [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Hedged Commercial Loans [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 9,466 10,770
Asset derivatives designated as hedging instruments 316 644
Interest Rate Swap Contracts [Member] | Other Assets [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Hedged Commercial Loans Federal Home Loan Bank [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 250,000 250,000
Asset derivatives designated as hedging instruments 0 0
Forward Loan Sale Commitments [Member]    
Derivative [Line Items]    
Liability derivatives, notional amount 0 3,186
Liability derivatives not designated as hedging instruments 0 20
Forward Loan Sale Commitments [Member] | Other Assets [Member] | Not Designated as Hedging Instrument [Member]    
Derivative [Line Items]    
Asset derivatives, notional amount 3,981 0
Asset derivatives not designated as hedging instruments $ 15 $ 0
v3.25.4
Derivative Financial Instruments - Summary of Carrying Amount Hedged Assets/(Liabilities) (Detail) - Designated as Hedging Instrument [Member] - Interest rate swaps [Member] - Loans And Leases Net Of Unearned Income [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Carrying Amount Hedged Assets Liabilities [Line Items]    
Carrying Amount of the Hedged Assets/(Liabilities) $ 9,466 $ 10,770
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) (331) (657)
Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets/(Liabilities) for which Hedge Accounting has been Discontinued $ 0 $ 0
v3.25.4
Derivative Financial Instruments - Schedule of Derivative Financial Instruments on Statements of Income (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Derivatives in hedging relationships $ 9,392 $ 21,293 $ 22,713
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest Income (Expense), after Provision for Loan Loss    
Designated as Hedging Instrument [Member]      
Derivative [Line Items]      
Derivatives in hedging relationships $ 9,716 20,940 23,691
Designated as Hedging Instrument [Member] | Interest on long-term borrowings [Member] | Interest Rate Contracts [Member] | Cash Flow Hedging [Member]      
Derivative [Line Items]      
Derivatives in hedging relationships 9,718 20,932 23,574
Designated as Hedging Instrument [Member] | Interest And Fees On Loans And Leases [Member] | Interest Rate Contracts [Member] | Fair Value Hedging [Member]      
Derivative [Line Items]      
Derivatives in hedging relationships (2) 8 117
Not Designated as Hedging Instrument [Member]      
Derivative [Line Items]      
Derivatives not designated as hedging instruments (324) 353 (978)
Not Designated as Hedging Instrument [Member] | Income from Mortgage Banking Activities [Member] | TBA Mortgage Backed Securities [Member]      
Derivative [Line Items]      
Derivatives not designated as hedging instruments (348) 956 (611)
Not Designated as Hedging Instrument [Member] | Income from Mortgage Banking Activities [Member] | Interest Rate Lock Commitments [Member]      
Derivative [Line Items]      
Derivatives not designated as hedging instruments (11) (489) (240)
Not Designated as Hedging Instrument [Member] | Income from Mortgage Banking Activities [Member] | Forward Loan Sale Commitments [Member]      
Derivative [Line Items]      
Derivatives not designated as hedging instruments $ 35 $ (114) $ (127)
v3.25.4
Comprehensive Income - Components of Total Comprehensive Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
 [1]
Sep. 30, 2025
 [1]
Jun. 30, 2025
 [1]
Mar. 31, 2025
 [1]
Dec. 31, 2024
 [1]
Sep. 30, 2024
 [1]
Jun. 30, 2024
 [1]
Mar. 31, 2024
 [1]
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]                      
Net Income $ 128,828 $ 130,748 $ 120,721 $ 84,306 $ 94,408 $ 95,267 $ 96,507 $ 86,814 $ 464,603 $ 372,996 $ 366,313
Available for sale ("AFS") securities:                      
Change in net unrealized gains on AFS securities arising during the period                 117,563 24,251 98,627
Related income tax effect                 (28,097) (5,840) (22,980)
Net reclassification adjustment for losses included in net income                 0 16,296 7,659
Related income tax effect                 0 (3,852) (1,785)
Total AFS securities - all other                 89,466 30,855 81,521
Net effect of AFS securities on other comprehensive income                 89,466 30,855 81,521
Cash flow hedge derivatives:                      
Unrealized (loss) gain on cash flow hedge before reclassification to interest expense                 (3,340) 12,744 6,548
Related income tax effect                 798 (2,987) (1,526)
Net reclassification adjustment for gains included in net income                 (9,718) (20,932) (23,574)
Related income tax effect                 2,323 4,926 5,493
Net effect of cash flow hedge derivatives on other comprehensive income                 (9,937) (6,249) (13,059)
Defined benefit pension plan:                      
Net actuarial gain during the period                 7,089 12,348 2,635
Related income tax expense                 (1,694) (2,951) (613)
Related income tax effect                 (17) (540) (780)
Amortization of net actuarial loss recognized in net income                 69 2,315 3,347
Net effect of change in defined benefit pension plan on other comprehensive income                 5,447 11,172 4,589
Net current-period other comprehensive income (loss), net of tax                 84,976 35,778 73,051
Total Comprehensive Income                 $ 549,579 $ 408,774 $ 439,364
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance $ 4,993,223 $ 4,771,240 $ 4,516,193
Net current-period other comprehensive income (loss), net of tax 84,976 35,778 73,051
Ending Balance 5,495,983 4,993,223 4,771,240
Defined Benefit Pension Item [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance (9,645)    
Other comprehensive income (loss) before reclassification 0    
Amounts reclassified from accumulated other comprehensive income 5,447    
Net current-period other comprehensive income (loss), net of tax 5,447    
Ending Balance (4,198) (9,645)  
Unrealized Gains/Losses on AFS Securities [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance (247,964)    
Other comprehensive income (loss) before reclassification 89,466    
Amounts reclassified from accumulated other comprehensive income 0    
Net current-period other comprehensive income (loss), net of tax 89,466    
Ending Balance (158,498) (247,964)  
Accumulated Other Comprehensive Income (Loss) [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance (223,903) (259,681) (332,732)
Other comprehensive income (loss) before reclassification 86,924    
Amounts reclassified from accumulated other comprehensive income (1,948)    
Net current-period other comprehensive income (loss), net of tax 84,976 35,778 73,051
Ending Balance (138,927) (223,903) $ (259,681)
Unrealized Gains/Losses on Cash Flow Hedges [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Beginning Balance 33,706    
Other comprehensive income (loss) before reclassification (2,542)    
Amounts reclassified from accumulated other comprehensive income (7,395)    
Net current-period other comprehensive income (loss), net of tax (9,937)    
Ending Balance $ 23,769 $ 33,706  
v3.25.4
Comprehensive Income - Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flow hedge:                      
Income before income taxes                 $ 583,400 $ 464,579 $ 463,805
Related income tax effect $ (31,068) $ (33,735) $ (31,367) $ (22,627) $ (26,651) $ (24,649) $ (18,878) $ (21,405) (118,797) (91,583) (97,492)
Net income (loss) 128,828 [1] 130,748 [1] 120,721 [1] 84,306 [1] 94,408 [1] 95,267 [1] 96,507 [1] 86,814 [1] 464,603 372,996 366,313
Pension plan:                      
Net actuarial loss                 7,089 12,348 2,635
Amortization of net actuarial loss                 69 2,315 3,347
Income before income taxes                 583,400 464,579 463,805
Related income tax effect (31,068) (33,735) (31,367) (22,627) (26,651) (24,649) (18,878) (21,405) (118,797) (91,583) (97,492)
Net income (loss) $ 128,828 [1] $ 130,748 [1] $ 120,721 [1] $ 84,306 [1] $ 94,408 [1] $ 95,267 [1] $ 96,507 [1] $ 86,814 [1] 464,603 $ 372,996 $ 366,313
Reclassification out of Accumulated Other Comprehensive Income [Member]                      
Cash flow hedge:                      
Net income (loss)                 (1,948)    
Pension plan:                      
Net income (loss)                 (1,948)    
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain Loss Net Cash Flow Hedge Parent [Member]                      
Cash flow hedge:                      
Net reclassification adjustment for losses                 (9,718)    
Income before income taxes                 (9,718)    
Related income tax effect                 2,323    
Net income (loss)                 (7,395)    
Pension plan:                      
Income before income taxes                 (9,718)    
Related income tax effect                 2,323    
Net income (loss)                 (7,395)    
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member]                      
Cash flow hedge:                      
Income before income taxes                 7,158    
Related income tax effect                 (1,711)    
Net income (loss)                 5,447    
Pension plan:                      
Net actuarial loss [2]                 7,089    
Amortization of net actuarial loss [3]                 69    
Income before income taxes                 7,158    
Related income tax effect                 (1,711)    
Net income (loss)                 $ 5,447    
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
[2] This AOCI component is included in the computation of changes in plan assets (see Note O, Employee Benefit Plans)
[3] This AOCI component is included in the computation of net periodic pension cost (see Note O, Employee Benefit Plans)
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information - Condensed Balance Sheets (Detail) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]        
Cash and due from banks $ 247,613,000 $ 240,655,000    
Securities available for sale 3,059,452,000 2,959,719,000    
Securities held to maturity 1,020,000 1,020,000    
Equity securities 34,760,000 21,058,000    
Other investment securities 305,184,000 277,517,000    
Goodwill 2,018,848,000 1,888,889,000    
Other assets 301,400,000 269,641,000    
Total Assets 33,660,281,000 30,023,545,000    
Accrued expenses and other liabilities 242,502,000 230,271,000    
Shareholders' equity (including other accumulated comprehensive losses of $138,927 and $223,903 at December 31, 2025 and 2024, respectively) 5,495,983,000 4,993,223,000 $ 4,771,240,000 $ 4,516,193,000
Total Liabilities and Shareholders' Equity 33,660,281,000 30,023,545,000    
United Bankshares [Member]        
Condensed Balance Sheet Statements, Captions [Line Items]        
Cash and due from banks 186,446,000 249,515,000    
Securities available for sale 5,253,000 5,663,000    
Securities held to maturity 20,000 20,000    
Equity securities 29,434,000 15,897,000    
Other investment securities 10,879,000 11,400,000    
Bank subsidiaries 5,577,829,000 5,024,692,000    
Nonbank subsidiaries 56,009,000 55,755,000    
Goodwill (16,466,000) (16,715,000)    
Other assets 33,837,000 32,152,000    
Total Assets 5,883,241,000 5,378,379,000    
Junior subordinated debentures of subsidiary trusts 281,817,000 280,221,000    
Accrued expenses and other liabilities 105,441,000 104,935,000    
Shareholders' equity (including other accumulated comprehensive losses of $138,927 and $223,903 at December 31, 2025 and 2024, respectively) 5,495,983,000 4,993,223,000    
Total Liabilities and Shareholders' Equity $ 5,883,241,000 $ 5,378,379,000    
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information - Condensed Balance Sheets (Parenthetical) (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Condensed Balance Sheet Statements, Captions [Line Items]    
Accumulated other comprehensive loss $ 138,927 $ 223,903
United Bankshares [Member]    
Condensed Balance Sheet Statements, Captions [Line Items]    
Accumulated other comprehensive loss $ 138,927 $ 223,903
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information - Condensed Statements of Income (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Income Statements, Captions [Line Items]                      
Net interest income $ 287,457 $ 280,115 $ 274,537 $ 260,055 $ 232,608 $ 230,256 $ 225,715 $ 222,489 $ 1,102,164 $ 911,068 $ 919,924
Income before income taxes and Equity in Undistributed Net Income of Subsidiaries                 583,400 464,579 463,805
Applicable income tax benefit 31,068 33,735 31,367 22,627 26,651 24,649 18,878 21,405 118,797 91,583 97,492
Net Income $ 128,828 [1] $ 130,748 [1] $ 120,721 [1] $ 84,306 [1] $ 94,408 [1] $ 95,267 [1] $ 96,507 [1] $ 86,814 [1] 464,603 372,996 366,313
United Bankshares [Member]                      
Condensed Income Statements, Captions [Line Items]                      
Bank subsidiaries                 317,000 231,000 217,000
Net interest income                 720 933 970
Bank subsidiaries                 51,913 48,307 43,852
Nonbank subsidiaries                 51 51 27
Other income                 12,580 5,064 2,167
Total Income                 382,264 285,355 264,016
Interest paid on borrowings                 767 0 0
Operating expenses                 83,167 80,922 67,968
Total Expenses                 83,934 80,922 67,968
Income before income taxes and Equity in Undistributed Net Income of Subsidiaries                 298,330 204,433 196,048
Applicable income tax benefit                 (2,732) (5,589) (4,521)
Income of Subsidiaries                 301,062 210,022 200,569
Bank subsidiaries                 169,335 169,778 170,997
Nonbank subsidiaries                 (5,794) (6,804) (5,253)
Net Income                 $ 464,603 $ 372,996 $ 366,313
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
United Bankshares, Inc. (Parent Company Only) Financial Information - Condensed Statements of Cash Flows (Detail) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
 [1]
Jun. 30, 2025
 [1]
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
 [1]
Jun. 30, 2024
 [1]
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Line Items]                      
Net income (loss) $ 128,828,000 [1] $ 130,748,000 $ 120,721,000 $ 84,306,000 [1] $ 94,408,000 [1] $ 95,267,000 $ 96,507,000 $ 86,814,000 [1] $ 464,603,000 $ 372,996,000 $ 366,313,000
Stock-based compensation                 13,089,000 12,130,000 12,463,000
Excess tax benefits from stock-based compensation arrangements                 (83,000) (258,000) (128,000)
Net proceeds from sales of debt securities                 713,000 8,113,000 344,000
Repayment of subordinated notes                 20,575,000 0 10,250,000
Cash dividends paid                 (209,002,000) (200,727,000) (194,727,000)
Acquisition of treasury stock                 (126,989,000) (1,040,000) (1,382,000)
Proceeds from exercise of stock options                 751,000 5,274,000 1,750,000
Cash and Cash Equivalents at Beginning of Year       2,292,244,000         2,292,244,000    
Cash and Cash Equivalents at End of Year 2,542,250,000       2,292,244,000       2,542,250,000 2,292,244,000  
United Bankshares [Member]                      
Supplemental Cash Flow Information [Line Items]                      
Net income (loss)                 464,603,000 372,996,000 366,313,000
Equity in undistributed net income of subsidiaries                 (163,541,000) (162,974,000) (165,744,000)
Amortization of net periodic pension costs                 1,000 141,000 204,000
Stock-based compensation                 13,089,000 12,130,000 12,463,000
Excess tax benefits from stock-based compensation arrangements                 83,000 258,000 128,000
Net change in other assets and liabilities                 (14,316,000) (5,925,000) (5,420,000)
Net Cash Provided by Operating Activities                 299,919,000 216,626,000 207,944,000
Net proceeds from sales of debt securities                 410,000 183,000 338,000
Net (purchases) proceeds from sales of equity securities                 (216,000) 130,000 (1,303,000)
Net cash paid in acquisition of subsidiary                 428,000 0 0
Increase in investment in subsidiaries                 (6,000,000) (8,000,000) (16,000,000)
Change in other investment securities                 (1,795,000) (1,187,000) (1,525,000)
Net Cash Used in Investing Activities                 (7,173,000) (8,874,000) (18,490,000)
Repayment of subordinated notes                 (20,575,000) 0 (10,250,000)
Cash dividends paid                 (209,002,000) (200,727,000) (194,727,000)
Acquisition of treasury stock                 (126,989,000) (1,040,000) (1,382,000)
Proceeds from exercise of stock options                 751,000 5,274,000 1,750,000
Net Cash Used in Financing Activities                 (355,815,000) (196,493,000) (204,609,000)
(Decrease) Increase in Cash and Cash Equivalents                 (63,069,000) 11,259,000 (15,155,000)
Cash and Cash Equivalents at Beginning of Year       $ 249,515,000       $ 238,256,000 249,515,000 238,256,000 253,411,000
Cash and Cash Equivalents at End of Year $ 186,446,000       $ 249,515,000       $ 186,446,000 $ 249,515,000 $ 238,256,000
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
v3.25.4
Regulatory Matters - Additional Information (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Regulatory Matters [Line Items]      
Average reserve balances to be maintained by subsidiary banks   $ 2,036,744,000 $ 1,184,007,000
Average reserve balances required by subsidiary banks   $ 0 $ 0
Retained net profits available for distribution to United Bankshares, Inc. by its banking subsidiaries as dividends $ 339,113,000    
Maximum loan to parent company by subsidiaries as percentage it's of capital and surplus   10.00%  
Maximum amount of loan to parent company by subsidiaries   $ 425,053,000  
v3.25.4
Regulatory Matters - Capital Amounts and Ratios (Detail)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
United Bankshares [Member]    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total Capital to Risk-Weighted Assets, Actual Amount $ 4,191,144 $ 3,897,755
Tier 1 Capital to Risk-Weighted Assets, Actual Amount 3,583,795 3,335,667
Common Tier I Capital to Risk Weighted Assets, Actual Amount 3,583,795 3,335,667
Tier 1 Capital to Average Assets, Actual Amount $ 3,583,795 $ 3,335,667
Total Capital to Risk-Weighted Assets, Actual Ratio 15.7 16.5
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio 13.4 14.1
Common Tier I Capital to Risk Weighted Assets, Actual Ratio 13.4 14.1
Tier 1 Capital to Average Assets, Actual Ratio 11.3 11.7
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount $ 2,133,353 $ 1,887,433
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount 1,600,014 1,415,575
Common Tier I Capital to Risk Weighted Assets, For Capital Adequacy Purposes, Amount 1,200,011 1,061,681
Tier 1 Capital to Average Assets, For Capital Adequacy Purposes, Amount $ 1,270,832 $ 1,136,661
Total Capital to Risk-Weighted Assets, For Capital Adequacy, Ratio 8 8
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio 6 6
Common Tier I Capital to Risk Weighted Assets, For Capital Adequacy Purposes, Ratio 450.00% 450.00%
Tier 1 Capital to Average Assets, For Capital Adequacy Purposes, Ratio 4 4
Total Capital to Risk-Weighted Assets, To Be Well Capitalized, Amount $ 2,666,691 $ 2,359,292
Tier 1 Capital to Risk-Weighted Assets, To Be Well Capitalized, Amount 2,133,353 1,887,433
Common Tier I Capital to Risk Weighted Assets, To Be Well Capitalized, Amount 1,733,349 1,533,540
Tier 1 Capital to Average Assets, To Be Well Capitalized, Amount $ 1,588,540 $ 1,420,827
Total Capital to Risk-Weighted Assets, To Be Well Capitalized, Ratio 10 10
Tier 1 Capital to Risk-Weighted Assets, To Be Well Capitalized, Ratio 8 8
Common Tier I Capital to Risk Weighted Assets, To Be Well Capitalized, Ratio 650.00% 650.00%
Tier 1 Capital to Average Assets To Be Well Capitalized, Ratio 5 5
United Bank [Member]    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total Capital to Risk-Weighted Assets, Actual Amount $ 3,967,217 $ 3,620,657
Tier 1 Capital to Risk-Weighted Assets, Actual Amount 3,647,868 3,348,071
Common Tier I Capital to Risk Weighted Assets, Actual Amount 3,647,868 3,348,071
Tier 1 Capital to Average Assets, Actual Amount $ 3,647,868 $ 3,348,071
Total Capital to Risk-Weighted Assets, Actual Ratio 15 15.4
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio 13.8 14.3
Common Tier I Capital to Risk Weighted Assets, Actual Ratio 13.8 14.3
Tier 1 Capital to Average Assets, Actual Ratio 11.5 11.8
Total Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount $ 2,122,625 $ 1,877,704
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Amount 1,591,968 1,408,278
Common Tier I Capital to Risk Weighted Assets, For Capital Adequacy Purposes, Amount 1,193,976 1,056,209
Tier 1 Capital to Average Assets, For Capital Adequacy Purposes, Amount $ 1,265,588 $ 1,132,023
Total Capital to Risk-Weighted Assets, For Capital Adequacy, Ratio 8 8
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Purposes, Ratio 6 6
Common Tier I Capital to Risk Weighted Assets, For Capital Adequacy Purposes, Ratio 450.00% 450.00%
Tier 1 Capital to Average Assets, For Capital Adequacy Purposes, Ratio 4 4
Total Capital to Risk-Weighted Assets, To Be Well Capitalized, Amount $ 2,653,281 $ 2,347,131
Tier 1 Capital to Risk-Weighted Assets, To Be Well Capitalized, Amount 2,122,625 1,877,704
Common Tier I Capital to Risk Weighted Assets, To Be Well Capitalized, Amount 1,724,632 1,525,635
Tier 1 Capital to Average Assets, To Be Well Capitalized, Amount $ 1,581,985 $ 1,415,029
Total Capital to Risk-Weighted Assets, To Be Well Capitalized, Ratio 10 10
Tier 1 Capital to Risk-Weighted Assets, To Be Well Capitalized, Ratio 8 8
Common Tier I Capital to Risk Weighted Assets, To Be Well Capitalized, Ratio 650.00% 650.00%
Tier 1 Capital to Average Assets To Be Well Capitalized, Ratio 5 5
v3.25.4
Fair Values of Financial Instruments - Additional Information (Detail) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Transfers from Level 1 to Level 3 for financial assets $ 0 $ 0
Transfers from Level 3 to Level 1 for financial assets 0 0
Transfers from Level 2 to Level 3 for financial assets 0 0
Transfers from Level 3 to Level 2 for financial assets 0 0
Transfers from Level 1 to Level 3 for financial liabilities 0 0
Transfers from Level 3 to Level 1 for financial liabilities 0 0
Transfers from Level 2 to Level 3 for financial liabilities 0 0
Transfers from Level 3 to Level 2 for financial liabilities 0 0
Fair value measurement of intangible assets 0 0
Loans held for sale 31,277,000 44,360,000
Loans Held For Sale [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans held for sale $ 0 $ 0
Loans Held For Sale [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.11%  
Loans Held For Sale [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.45%  
Loans Held For Sale [Member] | Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.10%  
Derivatives [Member] | Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.11%  
Derivatives [Member] | Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.45%  
Derivatives [Member] | Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Sales price of loans held for sale increase percentage 0.10%  
v3.25.4
Fair Values of Financial Instruments - Schedule of Financial Assets and Liabilities Measured at Fair Value (Detail) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities $ 34,760,000 $ 21,058,000
Loans held for sale 31,277,000 44,360,000
Derivative financial assets 789,000 1,261,000
Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 3,059,452,000 2,959,719,000
Available for sale equity securities 34,760,000 21,058,000
Loans held for sale 31,277,000 44,360,000
Derivative financial assets 789,000 1,261,000
Derivative financial liabilities $ 70,000 $ 20,000
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Assets Assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Liabilities Liabilities
U.S. Treasury securities and obligations of U.S. Government corporations and agencies [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities $ 281,657,000 $ 245,842,000
State and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 516,926,000 495,073,000
Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 1,358,636,000 1,059,719,000
Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Non-Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 38,885,000 82,123,000
Commercial Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 395,073,000 329,986,000
Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 223,254,000 474,982,000
Single Issue Trust Preferred Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 12,658,000 11,919,000
Other corporate securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 232,363,000 260,075,000
Financial Services Industry [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 25,825,000 12,504
Fixed Income Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 5,325,000 5,160,000
Interest Rate Swap Contracts [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 316,000 644,000
Forward Sales Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 15,000  
Derivative financial liabilities   20,000
Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 458,000 339,000
TBA Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets   278,000
Derivative financial liabilities 70,000  
Equity Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 3,610,000 3,394,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans held for sale 0 0
Derivative financial assets 0 0
Derivative financial liabilities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 4,678,000 4,965,000
Available for sale equity securities 29,356,000 21,058,000
Loans held for sale 0 0
Derivative financial assets 0 0
Derivative financial liabilities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Treasury securities and obligations of U.S. Government corporations and agencies [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | State and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Non-Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other corporate securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 4,678,000 4,965,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Financial Services Industry [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 20,421,000 12,504,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fixed Income Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 5,325,000 5,160,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Interest Rate Swap Contracts [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Forward Sales Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0  
Derivative financial liabilities   0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | TBA Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets   0
Derivative financial liabilities 0  
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 3,610,000 3,394,000
Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans held for sale 0 0
Derivative financial assets 316,000 644,000
Derivative financial liabilities 70,000 0
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 3,054,774,000 2,954,754,000
Available for sale equity securities 5,404,000 0
Loans held for sale 0 0
Derivative financial assets 316,000 644,000
Derivative financial liabilities 0 0
Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury securities and obligations of U.S. Government corporations and agencies [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 281,657,000 245,842,000
Significant Other Observable Inputs (Level 2) [Member] | State and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 516,926,000 495,073,000
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 1,358,636,000 1,059,719,000
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Non-Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 38,885,000 82,123,000
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 395,073,000 329,986,000
Significant Other Observable Inputs (Level 2) [Member] | Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 223,254,000 474,982,000
Significant Other Observable Inputs (Level 2) [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 12,658,000 11,919,000
Significant Other Observable Inputs (Level 2) [Member] | Other corporate securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 227,685,000 255,110,000
Significant Other Observable Inputs (Level 2) [Member] | Financial Services Industry [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 5,404,000 0
Significant Other Observable Inputs (Level 2) [Member] | Fixed Income Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 0 0
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swap Contracts [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 316,000 644,000
Significant Other Observable Inputs (Level 2) [Member] | Forward Sales Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0  
Derivative financial liabilities   0
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0 0
Significant Other Observable Inputs (Level 2) [Member] | TBA Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets   0
Derivative financial liabilities 0  
Significant Other Observable Inputs (Level 2) [Member] | Equity Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 0 0
Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans held for sale 31,277,000 44,360,000
Derivative financial assets 473,000 617,000
Derivative financial liabilities 0 20,000
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Available for sale equity securities 0 0
Loans held for sale 31,277,000 44,360,000
Derivative financial assets 473,000 617,000
Derivative financial liabilities 70,000 20,000
Significant Unobservable Inputs (Level 3) [Member] | U.S. Treasury securities and obligations of U.S. Government corporations and agencies [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | State and Political Subdivisions [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Non-Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Agency [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Asset-Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Single Issue Trust Preferred Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Other corporate securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale debt securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Financial Services Industry [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Fixed Income Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities 0 0
Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Swap Contracts [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 0 0
Significant Unobservable Inputs (Level 3) [Member] | Forward Sales Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 15,000  
Derivative financial liabilities   20,000
Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Lock Commitments [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets 458,000 339,000
Significant Unobservable Inputs (Level 3) [Member] | TBA Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative financial assets   278,000
Derivative financial liabilities 70,000  
Significant Unobservable Inputs (Level 3) [Member] | Equity Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Available for sale equity securities $ 0 $ 0
v3.25.4
Fair Values of Financial Instruments - Schedule of Additional Information about Financial Assets and Liabilities Measured at Fair Value Utilized Level 3 (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Loans Held For Sale [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period $ 44,360 $ 51,978
Originations 370,856 607,383
Sales (393,506) (630,244)
Transfers other 0 0
Total gains during the period recognized in earnings 9,567 15,243
Balance, end of period 31,277 44,360
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date 48 (1,133)
Derivative Financial Assets Tba Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period 278 0
Originations 0 0
Sales 0 0
Transfers other (278) 278
Total gains during the period recognized in earnings 0 0
Balance, end of period 0 278
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date 0 278
Derivative Financial Assets Forward Sales Commitments [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period 0 33
Originations 0 0
Sales 0 0
Transfers other 15 (33)
Total gains during the period recognized in earnings 0 0
Balance, end of period 15 0
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date 15 0
Interest Rate Lock Commitments [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period 339 1,005
Originations 0 0
Sales 0 0
Transfers other 119 (666)
Total gains during the period recognized in earnings 0 0
Balance, end of period 458 339
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date 458 339
Derivative Financial Liabilities Tba Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period 0 667
Originations 0 0
Sales 0 0
Transfers other 70 (667)
Total gains during the period recognized in earnings 0 0
Balance, end of period 70 0
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date 70 0
Derivative Financial Liabilities Forward Sales Commitments [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Balance, beginning of period 20 0
Originations 0 0
Sales 0 0
Transfers other (20) 20
Total gains during the period recognized in earnings 0 0
Balance, end of period 0 20
The amount of total (Losses) gains for the period included in earnings (or changes in net assets) attributable to the change in unrealized gains or losses relating to assets still held at reporting date $ 0 $ 20
v3.25.4
Fair Values of Financial Instruments - Schedule of Changes in Fair Value Included in Earnings of Financial Instruments for which Fair Value Option has been Elected (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Mortgage Banking [Member]    
Fair Value, Option, Quantitative Disclosures [Line Items]    
Income from mortgage banking activities $ 48 $ (1,222)
v3.25.4
Fair Values of Financial Instruments - Summary of Difference Between Aggregate Fair Value and Remaining Contractual Principal Outstanding for Financial Instruments for which Fair Value Option has been Elected (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]    
Loans held for sale, unpaid principal balance $ 30,567 $ 43,698
Loans held for sale, fair value 31,277 44,360
Loans held for sale, fair value over/(under) unpaid principal balance $ 710 $ 662
v3.25.4
Fair Values of Financial Instruments - Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
YTD Losses, Individually assessed loans $ 1,172 $ (231)
YTD Losses, OREO 0 0
OREO 8,857,000 327,000
Fair Value, Measurements, Nonrecurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Individually assessed loans 51,485 40,701
OREO 8,857 327
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Individually assessed loans 0 0
OREO 0 0
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Individually assessed loans 49,870 21,725
OREO 8,857 240
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Individually assessed loans 1,615 18,976
OREO $ 0 $ 87
v3.25.4
Fair Values of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents $ 2,542,250 $ 2,292,244
Securities available for sale 3,059,452 2,959,719
Securities held to maturity 1,004 1,002
Other securities 305,184 277,517
Loans held for sale 31,277 44,360
Net loans 24,709,122 21,673,493
Derivative financial assets 789 1,261
Deposits 27,060,939 23,961,859
Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 2,542,250 2,292,244
Securities available for sale 3,059,452 2,959,719
Securities held to maturity 1,004 1,002
Other securities 305,184 277,517
Loans held for sale 31,277 44,360
Net loans 24,411,604 21,401,649
Derivative financial assets 789 1,261
Deposits 27,060,939 23,961,859
Short-term borrowings 198,573 176,090
Long-term borrowings 531,817 540,420
Derivative financial liabilities 70 20
Carrying Amount [Member] | Marketable Equity Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 34,760 21,058
Fair Value [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 2,542,250 2,292,244
Securities available for sale 3,059,452 2,959,719
Securities held to maturity 1,020 1,020
Other securities 289,925 263,641
Loans held for sale 31,277 44,360
Net loans 24,432,980 20,868,239
Derivative financial assets 789 1,261
Deposits 27,031,873 23,922,063
Short-term borrowings 198,573 176,090
Long-term borrowings 524,281 505,305
Derivative financial liabilities 70 20
Fair Value [Member] | Marketable Equity Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 34,760 21,058
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 0 0
Securities available for sale 4,678 4,965
Securities held to maturity 0 0
Other securities 0 0
Loans held for sale 0 0
Net loans 0 0
Derivative financial assets 0 0
Deposits 0 0
Short-term borrowings 0 0
Long-term borrowings 0 0
Derivative financial liabilities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Marketable Equity Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 29,356 21,058
Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 2,542,250 2,292,244
Securities available for sale 3,054,774 2,954,754
Securities held to maturity 0 0
Other securities 0 0
Loans held for sale 0 0
Net loans 0 0
Derivative financial assets 316 644
Deposits 27,031,873 23,922,063
Short-term borrowings 198,573 176,090
Long-term borrowings 524,281 505,305
Derivative financial liabilities 70 0
Significant Other Observable Inputs (Level 2) [Member] | Marketable Equity Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 5,404 0
Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 0 0
Securities available for sale 0 0
Securities held to maturity 1,020 1,020
Other securities 289,925 263,641
Loans held for sale 31,277 44,360
Net loans 24,432,980 20,868,239
Derivative financial assets 473 617
Deposits 0 0
Short-term borrowings 0 0
Long-term borrowings 0 0
Derivative financial liabilities 0 20
Significant Unobservable Inputs (Level 3) [Member] | Marketable Equity Securities [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities $ 0 $ 0
v3.25.4
Variable Interest Entities - Additional Information (Detail)
 12 Months Ended
Dec. 31, 2025
USD ($)
Trust
Dec. 31, 2024
USD ($)
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]    
Number of statutory business trusts | Trust 20  
Percentage of equity shares of each trust owned by the company 100.00%  
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount $ 129,861,000 $ 98,441,000
Trust Preferred Securities Subject to Mandatory Redemption [Member]    
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]    
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount 12,686,000 12,238,000
Unfunded Loan Commitment [Member]    
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]    
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount $ 103,184,000 $ 89,292,000
v3.25.4
Segment Information - Summary Of Community Banking Segment Information (Detail) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]                      
Total Assets $ 33,660,281       $ 30,023,545       $ 33,660,281 $ 30,023,545  
Net interest income 287,457 $ 280,115 $ 274,537 $ 260,055 232,608 $ 230,256 $ 225,715 $ 222,489 1,102,164 911,068 $ 919,924
Provision for credit losses 6,779 12,095 5,889 29,103 6,691 6,943 5,779 5,740 53,866 25,153 31,153
Other income                 135,154 123,695 135,258
Employee compensation                 252,054 234,618 230,809
Employee benefits                 54,333 53,621 48,368
Net occupancy expense                 49,794 46,084 46,426
OREO expense                 892 576 1,355
Net gains on the sales of OREO properties                 148 75 60
Equipment Expense                 34,917 29,686 29,731
Data processing expense                 32,622 29,646 29,395
Mortgage loan servicing expense and impairment                 0 2,694 5,596
Bankcard Processing Expense                 2,342 2,490 2,192
FDIC insurance expense                 17,022 19,735 30,376
Income before income taxes                 583,400 464,579 463,805
Income taxes 31,068 33,735 31,367 22,627 26,651 24,649 18,878 21,405 118,797 91,583 97,492
Segment net income                 464,603 372,996 366,313
Net Income (Loss) 128,828 [1] $ 130,748 [1] $ 120,721 [1] $ 84,306 [1] 94,408 [1] $ 95,267 [1] $ 96,507 [1] $ 86,814 [1] 464,603 372,996 366,313
Operating Segments [Member] | Community Banking [Member]                      
Segment Reporting Information [Line Items]                      
Total Assets $ 33,660,281       $ 30,023,545       33,660,281 30,023,545 29,926,482
Net interest income                 1,102,164 911,068 919,924
Provision for credit losses                 53,866 25,153 31,153
Other income                 135,154 123,695 135,258
Employee compensation                 252,054 234,618 230,809
Employee benefits                 54,333 53,621 48,368
Net occupancy expense                 49,794 46,084 46,426
OREO expense                 892 576 1,355
Net gains on the sales of OREO properties                 (148) (75) (60)
Equipment Expense                 34,917 29,686 29,731
Data processing expense                 32,622 29,646 29,395
Mortgage loan servicing expense and impairment                 0 2,694 5,596
Bankcard Processing Expense                 2,342 2,490 2,192
FDIC insurance expense                 17,022 19,735 30,376
Other segment expense [2]                 156,224 125,956 136,036
Total other expense                 600,052 545,031 560,224
Income before income taxes                 583,400 464,579 463,805
Income taxes                 118,797 91,583 97,492
Segment net income                 464,603 372,996 366,313
Adjustments and reconciling items                 0 0 0
Net Income (Loss)                 $ 464,603 $ 372,996 $ 366,313
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.
[2] Other segment expense includes legal, consulting and other professional services expense, franchise and other taxes not on income, expense for reserve on lending-related commitments, ATM expenses, marketing expense, core deposits amortization, and other general operating expenses.
v3.25.4
Quarterly Financial Data - Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]                      
Interest income $ 430,053 $ 430,957 $ 421,196 $ 403,647 $ 376,034 $ 382,723 $ 374,184 $ 369,180 $ 1,685,853 $ 1,502,121 $ 1,401,320
Interest expense 142,596 150,842 146,659 143,592 143,426 152,467 148,469 146,691      
Net interest income 287,457 280,115 274,537 260,055 232,608 230,256 225,715 222,489 1,102,164 911,068 919,924
Provision for credit losses 6,779 12,095 5,889 29,103 6,691 6,943 5,779 5,740 53,866 25,153 31,153
Mortgage banking income 1,990 2,495 2,603 2,479 2,314 4,544 3,901 5,298      
Securities gains(losses), net (218) 10,442 425 521 (688) (6,715) (218) (99) 11,170 (7,720) (7,646)
Other noninterest income 29,164 30,267 28,432 26,554 27,692 34,113 26,540 27,013      
Noninterest expense 151,718 146,741 148,020 153,573 134,176 135,339 134,774 140,742 600,052 545,031 560,224
Income taxes 31,068 33,735 31,367 22,627 26,651 24,649 18,878 21,405 118,797 91,583 97,492
Net income $ 128,828 [1] $ 130,748 [1] $ 120,721 [1] $ 84,306 [1] $ 94,408 [1] $ 95,267 [1] $ 96,507 [1] $ 86,814 [1] $ 464,603 $ 372,996 $ 366,313
Average shares outstanding (000s):                      
Basic 140,481,000 141,548,000 142,207,000 142,331,000 135,236,000 135,158,000 135,138,000 134,809,000 141,497,205 134,947,592 134,505,058
Diluted 140,980,000 141,961,000 142,444,000 142,698,000 135,732,000 135,505,000 135,315,000 135,121,000 141,827,360 135,225,417 134,753,820
Net income per share:                      
Basic $ 0.92 $ 0.92 $ 0.85 $ 0.59 $ 0.7 $ 0.7 $ 0.71 $ 0.64 $ 3.28 $ 2.76 $ 2.72
Diluted 0.91 0.92 0.85 0.59 0.69 0.7 0.71 0.64 3.27 2.75 2.71
Dividends per share $ 0.38 $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 0.37 $ 1.49 $ 1.48 $ 1.45
[1] For further information, see the related discussion “Quarterly Results” included in Management’s Discussion and Analysis.