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. (NASDAQ: UBSI) is a regional financial services and commercial banking company that regularly issues detailed updates on its financial performance, dividends, acquisitions, and corporate governance. As the parent company of United Bank, with more than 240 offices across Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia, the company generates frequent news relevant to investors and followers of regional banks.
This UBSI news page aggregates press releases and other coverage related to United’s quarterly and annual earnings, dividend declarations, and capital actions such as share repurchase plans. Readers will find announcements discussing record net interest income, returns on average assets and equity, changes in noninterest income and expenses, and commentary from management on business conditions. Updates on acquisitions, including the completed purchase of Atlanta-based Piedmont Bancorp, Inc., and their impact on loans, deposits, and assets are also reflected in the company’s news flow.
In addition to financial results, United’s news includes information from its annual meeting of shareholders, director elections, equity incentive plans, and presentations at investor conferences. Dividend-related releases highlight the company’s long record of consecutive dividend increases and provide specifics on per-share amounts, record dates, and payment dates. For investors tracking UBSI stock, this page offers a centralized view of the company’s publicly released information, making it easier to follow trends in earnings, credit quality, capital ratios, and strategic initiatives over time.
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.
United Bankshares, Inc. (NASDAQ: UBSI) has announced an executive management reorganization effective April 1, 2022. Chairman and CEO Richard M. Adams will transition to Executive Chairman, while Richard (Rick) Adams, Jr., currently President, will assume the role of CEO. Jim C. Consagra, Jr. will take over as President. The company had consolidated assets of approximately $29.3 billion as of December 31, 2021, and operates nearly 250 offices across multiple states, including Virginia and Maryland.
United Bankshares, Inc. (UBSI) has declared a first quarter 2022 dividend of $0.36 per share, benefiting shareholders of record as of March 11, 2022. This dividend payout totals approximately $49.3 million on 136.8 million shares, payable on April 1, 2022. This marks the 48th consecutive year of dividend increases for the company, a rare achievement among major U.S. banking firms. As of December 31, 2021, United had consolidated assets of around $29.3 billion.
United Bankshares, Inc. (NASDAQ: UBSI) reported fourth-quarter 2021 earnings of $73.9 million ($0.56 per share), down from $92.4 million ($0.71 per share) in Q4 2020. However, annual earnings reached a record $367.7 million ($2.83 per share), up from $289.0 million ($2.40 per share) in 2020. The net interest income for Q4 decreased 4% to $183.7 million. Total noninterest income also saw a decline of 43% to $54.0 million, driven by lower mortgage banking activities. The asset quality remained strong, with nonperforming loans dropping to 0.50% of total loans.