United Bankshares reports record 2022 net income of $379.6M; EPS $2.80

UNITED BANKSHARES INC/WV

2022-FY EPS reported $2.80 revenue$311,957,000

Q4 2022 net income $99.8M ($0.74 EPS), down from Q3 2022's $102.6M ($0.76 EPS).
Full-year 2022 net interest income record $896.4M, up 21% YoY; NIM expanded 41 bps to 3.50%.
Annualized loan growth (ex-PPP) 16% for 2022; net charge-offs ultra-low at 0.02% in Q4.
Non-performing loans fell to 0.29% of total loans at Dec. 31, 2022 from 0.50% a year earlier.
Repurchased ~2.3M shares in 2022 at avg $34.69; all regulatory capital ratios well above well-capitalized thresholds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED BANKSHARES INC/WV reported the year of 2022 results: net income $379.6 million, EPS $2.80 per diluted share.

Period: the year of 2022
Net income: $379.6 million
EPS: $2.80 per diluted share
Result: reported results

Exact text from the filing

today reported record earnings for the year of 2022 of $379.6 million as compared to earnings of $367.7 million for the year of 2021. Earnings per diluted share for the year of 2022 were $2.80 as compared to earnings per diluted share of $2.83 for the year of 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED BANKSHARES INC/WV reported the fourth quarter of 2022 results: net income $99.8 million, EPS $0.74 per diluted share.

Period: the fourth quarter of 2022
Net income: $99.8 million
EPS: $0.74 per diluted share
Result: reported results

Exact text from the filing

Earnings for the fourth quarter of 2022 were $99.8 million, or $0.74 per diluted share, as compared to earnings of $102.6 million, or $0.76 per diluted share, for the third quarter of 2022.

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Source: SEC EDGAR

accession 0001193125-23-015713

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