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Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Information Related to Statutory Trusts
Information related to United’s statutory trusts is presented in the table
below:
 
Description
  
Issuance Date
  
Amount of
Capital
Securities Issued
 
  
Stated Interest Rate
  
Maturity Date
United Statutory Trust III
   December 17, 2003    $ 20,000     
3-month LIBOR + 2.85%
   December 17, 2033
United Statutory Trust IV
   December 19, 2003    $ 25,000     
3-month
LIBOR + 2.85%
   January 23, 2034
United Statutory Trust V
   July 12, 2007    $ 50,000     
3-month
LIBOR + 1.55%
   October 1, 2037
United Statutory Trust VI
   September 20, 2007    $ 30,000     
3-month
LIBOR + 1.30%
   December 15, 2037
Premier Statutory Trust II
   September 25, 2003    $ 6,000     
3-month
LIBOR + 3.10%
   October 8, 2033
Premier Statutory Trust III
   May 16, 2005    $ 8,000     
3-month
LIBOR + 1.74%
   June 15, 2035
Premier Statutory Trust IV
   June 20, 2006    $ 14,000     
3-month
LIBOR + 1.55%
   September 23, 2036
Premier Statutory Trust V
   December 14, 2006    $ 10,000     
3-month
LIBOR + 1.61%
   March 1, 2037
Centra Statutory Trust I
   September 20, 2004    $ 10,000     
3-month
LIBOR + 2.29%
   September 20, 2034
Centra Statutory Trust II
   June 15, 2006    $ 10,000     
3-month
LIBOR + 1.65%
   July 7, 2036
Virginia Commerce Trust II
   December 19, 2002    $ 15,000     
6-month
LIBOR + 3.30%
   December 19, 2032
Virginia Commerce Trust III
   December 20, 2005    $ 25,000     
3-month
LIBOR + 1.42%
   February 23, 2036
Cardinal Statutory Trust I
   July 27, 2004    $ 20,000     
3-month
LIBOR + 2.40%
   September 15, 2034
UFBC Capital Trust I
   December 30, 2004    $ 5,000     
3-month
LIBOR + 2.10%
   March 15, 2035
Carolina Financial Capital Trust I
   December 19, 2002    $ 5,000      Prime + 0.50%    December 31, 2032
Carolina Financial Capital Trust II
   November 5, 2003    $ 10,000     
3-month
LIBOR + 3.05%
   January 7, 2034
Greer Capital Trust I
   October 12, 2004    $ 6,000     
3-month
LIBOR + 2.20%
   October 18, 2034
Greer Capital Trust II
   December 28, 2006    $ 5,000     
3-month
LIBOR + 1.73%
   January 30, 2037
First South Preferred Trust I
   September 26, 2003    $ 10,000     
3-month
LIBOR + 2.95%
   September 30, 2033
BOE Statutory Trust I
   December 12, 2003    $ 4,000     
3-month
LIBOR + 3.00%
   December 12, 2033
Summary of Quantitative Information Related to Significant Involvement in Unconsolidated Variable Interest Entities
The following table summarizes quantitative information about United’s significant involvement in unconsolidated VIEs:
 
    
As of June 30, 2022
    
As of December 31, 2021
 
    
Aggregate

Assets
    
Aggregate

Liabilities
    
Risk Of

Loss
(1)
    
Aggregate

Assets
    
Aggregate

Liabilities
    
Risk Of

Loss
(1)
 
Trust preferred securities
   $ 299,748      $ 288,634      $ 11,114      $ 299,531      $ 288,499      $ 11,032  
 
(1)
Represents investment in VIEs.