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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.
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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.
United Bankshares (NASDAQ: UBSI) has announced a merger agreement with Community Bankers Trust (NASDAQ: ESXB), which will create a combined entity with approximately $29 billion in assets, ranking as the 38th largest banking company in the U.S. The deal involves United acquiring 100% of Community Bankers Trust's shares at an estimated $303.3 million value. The merger is expected to enhance United's market presence in various regions while offering improved products and services to customers. Approval is pending from shareholders and regulatory bodies.
United Bankshares, Inc. appointed Charles L. Capito, Jr. to its board of directors during the Annual Meeting of Shareholders. Capito, a seasoned leader with experience as Managing Director at Wells Fargo Advisors in West Virginia, is expected to enhance the company’s commitment to local leadership and community service.
His background includes significant roles at United Bank and Citigroup, complemented by active involvement in various boards and organizations. With consolidated assets of approximately $27 billion, United Bankshares operates across multiple states and has its stock traded under the symbol UBSI.
