United Bankshares Inc - UBSI STOCK NEWS

United Bankshares, Inc. (NASDAQ: UBSI) has declared a first quarter 2023 dividend of $0.36 per share, amounting to approximately $48.6 million for shareholders of record as of March 10, 2023. This dividend is payable on April 3, 2023. The announcement marks 49 consecutive years of dividend increases, a feat achieved by only one other major U.S. banking company. As of December 31, 2022, United's consolidated assets were approximately $29.5 billion.

United Bankshares, Inc. (NASDAQ: UBSI) reported record earnings of $379.6 million for 2022, up from $367.7 million in 2021. Earnings per diluted share were $2.80, slightly lower than $2.83 in 2021. Q4 earnings totaled $99.8 million or $0.74 per diluted share, compared to $102.6 million in Q3. Key highlights include a record net interest income of $896.4 million for the year, driven by strong loan growth and net interest margin expansion. However, the provision for credit losses rose to $16.4 million in Q4 due to loan growth and macroeconomic forecasts. The company maintained a solid credit quality with non-performing loans at 0.29%.

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.