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) 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.
United Bankshares, Inc. (NASDAQ: UBSI) has successfully completed its acquisition of Community Bankers Trust Corporation (NASDAQ: ESXB), which has approximately $1.7 billion in assets. This merger enhances United's position as a leading regional banking entity, bringing its total assets to approximately $29 billion and expanding its presence across key markets in Virginia and Maryland. The acquisition marks United's 33rd under its current administration and positions it as the 41st largest U.S. banking company by market capitalization. Richard M. Adams, United's CEO, expressed enthusiasm for the strategic benefits of this merger.
United Bankshares, Inc. (UBSI) declared a fourth quarter dividend of $0.36 per share, with a record date of December 2, 2021. The total dividend for 2021 amounts to $1.41 per share, marking an increase from $1.40 in 2020. The total payout of approximately $46.5 million on 129.2 million shares will be distributed on January 3, 2022. This year represents the 48th consecutive year of dividend increases, positioning United as one of only two major U.S. banking firms with such a record.
United Bankshares reported third quarter earnings of $92.2 million or $0.71 per diluted share, down from $103.8 million or $0.80 for the same period in 2020. For the first nine months, earnings rose to $293.9 million, or $2.27 per diluted share, compared to $196.7 million, or $1.68 in 2020. Credit quality remains strong with nonperforming assets at 0.39% of total assets. The company has completed all necessary regulatory approvals for its merger with Community Bankers Trust, expected to close in Q4 2021.
United Bankshares, Inc. (NASDAQ: UBSI) declared a third quarter dividend of $0.35 per share for shareholders recorded as of September 10, 2021. The total payout amounts to approximately $45.2 million on 129.2 million shares, payable on October 1, 2021. This marks the 47th consecutive year of dividend increases, a record held by only one other major banking company in the USA. As of June 30, 2021, United had consolidated assets of around $27.2 billion.
United Bankshares, Inc. (NASDAQ: UBSI) reported robust earnings for Q2 2021, with net income of $94.8 million ($0.73 per diluted share), significantly up from $52.7 million ($0.44 per diluted share) in Q2 2020. For the first half of 2021, earnings reached $201.7 million ($1.56 per diluted share), compared to $92.9 million ($0.84 per diluted share) in 2020. The earnings benefited from the Carolina Financial acquisition and lower credit loss provisions. United announced a merger agreement with Community Bankers Trust, enhancing its market position with a combined asset of approximately $29 billion.
United Bankshares, Inc. (NASDAQ: UBSI) will attend the Keefe, Bruyette & Woods Southeast Bank Conference on June 17, 2021. W. Mark Tatterson, Executive Vice President and CFO, along with Wesley Tracewell, SVP Treasury, will represent the company. An investor presentation will be available from June 16, 2021, on www.ubsi-inc.com. As of March 31, 2021, United has approximately $27 billion in assets and operates 223 offices across eight states and Washington, D.C.
On June 3, 2021, United Bankshares (NASDAQ: UBSI) announced its merger with Community Bankers Trust (NASDAQ: ESXB), valued at approximately $303.3 million. The merger will create an entity with about $29 billion in assets, making it the 38th largest banking company in the U.S. United aims to enhance its presence in the DC Metro and expand into new markets like Baltimore and Richmond. The agreement is subject to regulatory approvals and Community Bankers Trust shareholder votes, with completion expected in Q4 2021.