Welcome to our dedicated page for United Bankshares West Va news (Ticker: UBSI), a resource for investors and traders seeking the latest updates and insights on United Bankshares West Va stock.
United Bankshares, Inc. reports developments as a financial holding company and parent of United Bank, a community banking institution serving markets across Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia. Its banking business includes deposits, consumer and commercial lending, construction and real estate loans, residential mortgage origination and sale, trust and brokerage services, safe deposit boxes, and wire transfers.
Recurring UBSI news covers quarterly and annual earnings, returns on assets and equity, asset quality, credit-loss provisioning, expense trends, capital allocation, common-stock dividends, and the effects of completed bank acquisitions such as Piedmont Bancorp. Company updates also include investor conference presentations and corporate objectives tied to United Bank's regional banking footprint.
United Bankshares, Inc. (NASDAQ: UBSI) declared a fourth quarter dividend of $0.36 per share, marking an increase from $1.41 in 2021 to $1.44 for 2022. The total dividend payout amounts to approximately $48.5 million, affecting 134.7 million shares, and will be paid on January 3, 2023 to shareholders of record as of December 9, 2022. This is the 49th consecutive year of dividend increases for United, making it one of only two primary banking companies in the USA with such a long history.
United Bankshares, Inc. (NASDAQ: UBSI) reported third-quarter 2022 earnings of $102.6 million, or $0.76 per diluted share, up from $95.6 million in Q2 2022. This performance was driven by a 16% annualized loan growth and a net interest margin of 3.78%, reflecting a 40 basis point increase. Non-performing loans improved to 0.35% of total loans. However, noninterest income fell by 25%, mainly due to decreased mortgage banking activities. The company remains well-capitalized with a risk-based capital ratio of 14.4%.
United Bankshares, Inc. (NASDAQ: UBSI) announced a third quarter dividend of $0.36 per share for shareholders as of September 9, 2022. This $48.5 million payout, based on 134.6 million shares, will be payable on October 3, 2022. The year 2021 marked the 48th consecutive year of dividend increases, a record matched by only one other major US banking company. As of June 30, 2022, United held approximately $28.8 billion in consolidated assets, and operates nearly 250 offices across multiple states.
United Bankshares, Inc. (NASDAQ: UBSI) reported a strong second quarter of 2022 with earnings of $95.6 million, or $0.71 per diluted share, up from $81.7 million, or $0.60 per diluted share in Q1 2022. The annualized loan growth was 15%, while net interest margin expanded to 3.38%, a 39 basis points increase. Credit quality remains robust with non-performing loans at 0.37%. The net interest income rose by 12% compared to Q1 2022, driven by rising market rates. However, noninterest income fell by 5% due to a decline in mortgage banking activities.
United Bankshares, Inc. (NASDAQ: UBSI) has declared a second quarter dividend of $0.36 per share, totaling approximately $48.7 million, payable on July 1, 2022, to shareholders of record as of June 10, 2022. This marks the 48th consecutive year of dividend increases for the company, a notable achievement shared by only one other major US banking institution. As of March 31, 2022, United reported consolidated assets of around $29.4 billion, reflecting its robust market position.
During the Annual Meeting on May 11, 2022, United Bankshares elected two new directors, Diana Lewis Jackson and Lacy I. Rice, along with the new CEO, Richard M. Adams, to its board. Jackson is the founder and CEO of Action Facilities Management, while Rice is the co-founder of Federal Capital Partners. Both bring extensive leadership experience to the company. This board refreshment aims to enhance local leadership commitment and service excellence across United's operational footprint.
United Bankshares, Inc. (UBSI) held its Annual Meeting on May 11, 2022, highlighting a record year in 2021 with before-tax earnings of $463 million and an 18% increase in earnings per share, reaching $2.83. The bank's acquisition strategy resulted in growth to nearly $30 billion in assets. United has increased dividends for 48 consecutive years, now at $1.41 per share. Recognized for its community involvement, United ranked 2nd in Newsweek's list of 'America's Most Trustworthy Companies' among banking firms. Richard M. Adams emphasized the bank's commitment to financial performance and community service.
United Bankshares, Inc. (NASDAQ: UBSI) reported first-quarter 2022 earnings of $81.7 million, or $0.60 per diluted share, up from $73.9 million, or $0.56 per diluted share in Q4 2021. The company saw strong loan growth of 11% annually, net interest margin expansion, and resumed share buybacks. Net interest income was flat year-over-year at $191.5 million, with the net interest margin at 2.99%. Noninterest income decreased by 50% year-over-year to $46.0 million, primarily due to lower mortgage banking activities. United remains well-capitalized with a risk-based capital ratio of 15.1%.
United Bankshares, Inc. has announced the promotion of Julie R. Gurtis to President, effective April 1, 2022. Gurtis, previously EVP and Chief Commercial Banking Officer, has a 31-year tenure at United, excelling in various leadership roles. Michael P. Fitzgerald will assume the role of Vice Chairman, maintaining focus on business development. As of December 31, 2021, UBSI reported consolidated assets of approximately $29.3 billion, operating nearly 250 offices across multiple states, including Virginia, Maryland, and West Virginia.
United Bankshares, Inc. (NASDAQ: UBSI) will present at the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, at 2:50 p.m. Eastern Time. CFO W. Mark Tatterson will discuss the company’s financial performance and corporate objectives during the 30-minute presentation. The event will be streamed online with an archived version available for seven days. As of December 31, 2021, United's consolidated assets were approximately $29.3 billion, with nearly 250 offices spread across multiple states including Virginia and West Virginia.