United Bankshares Inc - UBSI STOCK NEWS

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.

United Bankshares, a $27 billion financial services firm, held its Annual Meeting on May 12, 2021, where CEO Richard M. Adams highlighted the company's resilience during the COVID-19 pandemic. United was recognized with the 'CEO of the Year COVID-19 Response Leader Award' for its support of the community and its employees. The firm executed the largest merger in its history, acquiring Carolina Financial Corporation, and reported a record net income of $289 million in 2020. Additionally, it increased dividends for the 47th consecutive year, affirming its strong commitment to shareholders.

United Bankshares, Inc. (NASDAQ: UBSI) declared a second quarter dividend of $0.35 per share, payable on July 1, 2021, to shareholders of record by June 11, 2021. This payout totals approximately $45.2 million on 129.2 million shares and marks the 47th consecutive year of dividend increases for United, a notable achievement among major U.S. banking companies. As of March 31, 2021, United's consolidated assets stood at around $27.0 billion, proving its strong position as the largest community bank in the D.C. Metro region.

United Bankshares, Inc. (NASDAQ: UBSI) reported record earnings of $106.9 million or $0.83 per diluted share for Q1 2021, significantly up from $40.2 million or $0.40 per share in Q1 2020. The surge was driven by increased income from mortgage banking and the acquisition of Carolina Financial Corporation. Key metrics include a return on average assets of 1.64% and a net interest income of $191 million, up 35% year-over-year. Noninterest income rose 152% to $92.6 million. Credit quality remains strong with a decrease in nonperforming loans to 0.67%.

United Bankshares, Inc. (NASDAQ: UBSI) has declared a first quarter 2021 dividend of $0.35 per share, totaling approximately $45.2 million for shareholders of record as of March 12, 2021. This dividend will be payable on April 1, 2021. With this announcement, United Bankshares continues its impressive track record, marking the 47th consecutive year of dividend increases. The company reported consolidated assets of around $26.2 billion as of December 31, 2020, and operates the largest community bank in the D.C. Metro region with 224 offices across multiple states.

United Bankshares, Inc. (NASDAQ: UBSI) reported a strong performance for Q4 2020, with earnings of $92.4 million ($0.71 per diluted share), up from $63.3 million in Q4 2019. For 2020, net income reached a record $289 million, a 11% increase from $260.1 million in 2019. The year saw significant boosts from mortgage banking activities and the acquisition of Carolina Financial. However, provisions for credit losses rose significantly to $106.6 million due to economic uncertainties related to COVID-19. Despite challenges, the bank's credit quality remains sound.