secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANKSHARES INC/WV (UBSI)
CIK:        0000729986
Form:       8-K
Filed at:   2022-01-27T23:59:59+00:00
Accession:  0001193125-22-019056
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Bankshares posts record 2021 net income of $367.7M ($2.83/sh); Q4 earnings decline 20%
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- Record annual net income of $367.7M ($2.83 diluted EPS) vs $289.0M ($2.40) in 2020, up 27%.
- Q4 net income $73.9M ($0.56 EPS) vs $92.4M ($0.71) Q4 2020, down 20% on lower mortgage banking income and merger costs.
- Completed Community Bankers Trust acquisition on Dec 3, 2021; merger-related expenses of $20.4M in Q4.
- Net interest margin 2.94% in Q4, down 39 bps YoY; provision for credit losses was a net benefit of $7.4M.
- Nonperforming loans fell to 0.50% of loans from 0.75% at Dec 31, 2020; regulatory capital remains well-capitalized.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729986/000119312522019056/0001193125-22-019056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729986/000119312522019056/d259172d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-019056

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