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United Bankshares Inc (UBSI) delivers community-focused banking services across multiple states, combining traditional relationship banking with modern financial solutions. This news hub provides investors and stakeholders with timely updates on the company’s strategic developments and market position.
Access official press releases and curated news coverage spanning earnings announcements, regulatory milestones, and community banking initiatives. Our repository ensures you stay informed about leadership changes, financial product updates, and regional expansion efforts without promotional bias.
Bookmark this page for streamlined access to UBSI’s latest corporate communications, including merger activity disclosures, dividend declarations, and service enhancements. All content is verified for accuracy and relevance to support informed decision-making.
United Bankshares, Inc. (NASDAQ: UBSI) reported Q2 2024 earnings of $96.5 million, or $0.71 per diluted share. This represents an increase from Q1 2024 earnings of $86.8 million. Key highlights include:
- Annualized returns on average assets, equity, and tangible equity of 1.32%, 7.99%, and 13.12% respectively
- Net interest income increased $3.2 million from Q1 2024
- Noninterest expense decreased $6.0 million from Q1 2024
- Non-performing loans decreased $9.1 million from Q1 2024
- Strong capital position with estimated risk-based capital ratio of 15.8%
The company also announced a merger agreement with Piedmont Bancorp, Inc., expected to close in late Q4 2024 or early Q1 2025.
United Bankshares (NASDAQ: UBSI) held its Annual Meeting of Shareholders on May 15, 2024. The company reported significant achievements in 2023, including growth in loans, deposits, and net interest margin. United also delivered above-peer performance in return on average assets and efficiency ratio while reducing non-performing assets and bolstering capital levels.
Despite a tough year for bank stocks, UBSI traded at a premium and increased dividends for the 50th consecutive year. The company was named the Most Trustworthy Bank by Newsweek. United's first-quarter 2024 results were rated 'Outperform' by Raymond James with a $41.00 price target.
The company announced the acquisition of Piedmont Bancorp, enhancing its presence in Atlanta. Additionally, shareholders elected directors and approved key proposals, including ratifying Ernst & Young as their auditing firm.
United Bankshares (NASDAQ: UBSI) announced that its Board of Directors declared a second quarter dividend of $0.37 per share. Shareholders of record as of June 14, 2024, will receive the dividend payout on July 1, 2024. The total payout amounts to approximately $52.7 million across 135.2 million shares. United Bankshares has an impressive record of 50 consecutive years of dividend increases, a feat matched by only one other major banking company in the USA. As of March 31, 2024, United reported consolidated assets of about $30 billion. The company operates more than 225 offices across multiple states in the USA.
United Bankshares, Inc. has announced the acquisition of Piedmont Bancorp, Inc., bringing together two high-performing banking companies. The merger will strengthen United's presence in the Southeast and Mid-Atlantic regions, making it the 39th largest banking company in the U.S. based on market capitalization. The transaction, United's 34th acquisition, will result in a combined organization with over $32 billion in assets and a network of over 240 locations across eight states and Washington, D.C.
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