United Bankshares Releases Fourth Quarter and Full Year 2024 Financial Results

United Bankshares, Inc. (NASDAQ: UBSI) recently disclosed its financial outcomes for the fourth quarter and full year of 2024 in a Form 8-K filing with the Securities and Exchange Commission. The company announced its results on January 24, 2025.

In the disclosed report, United Bankshares presented its net income, revealing the achievement of $373.0 million in net income and $2.75 in diluted earnings per share for the year. Noteworthy metrics included Return on Average Assets of 1.26%, Return on Average Equity of 7.61%, and Return on Average Tangible Equity at 12.43%. Additionally, the institution amplified dividends to its shareholders for the 51st consecutive year, reflecting a current dividend yield of approximately 3.9% based on recent prices.

The 8-K filing also included the announcement of the completion of the merger between United Bankshares and Piedmont Bancorp, Inc., which brought opportunities for enhanced financial and operational performance through synergies and cost savings, among other benefits.

Furthermore, United Bankshares stated in the filing that the Net Interest Margin (FTE) remained solid at 3.49%. The company noted a full-year period-end deposit growth of $1.1 billion, with a substantial increase excluding a decline in brokered deposits.

United Bankshares emphasized its commitment to maintaining sound asset quality, with Non-Performing Assets remaining low at 0.25% of Total Assets. The institution’s expense control measures were highlighted with an efficiency ratio of 52.67%.

Given the disclosed financial results and strategic developments, United Bankshares continues to assert its position as a trustworthy financial institution, recognized for its stability and performance within the banking sector. The company’s strong financial standing and steady growth trajectory underscore its resilience and strategic foresight in navigating market challenges and opportunities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read United Bankshares’s 8K filing here.

About United Bankshares

United Bankshares, Inc, through its subsidiaries, primarily provides commercial and retail banking products and services in the United States. It operates through two segments, Community Banking and Mortgage Banking. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts.