secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANKSHARES INC/WV (UBSI)
CIK:        0000729986
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001193125-23-116883
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Bankshares Q1 2023 EPS $0.73, net income $98.3M, NIM 3.63%
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- Q1 2023 net income $98.3M ($0.73 diluted EPS) vs $99.8M ($0.74) Q4 2022 and $81.7M ($0.60) Q1 2022.
- Net interest margin 3.63%, down 24 bps QoQ but up 64 bps YoY; net interest income down 6% QoQ on higher deposit costs.
- Noninterest income $32.7M, down 29% YoY driven by lower mortgage banking income.
- Provision for credit losses $6.9M vs $16.4M Q4 2022; non-performing loans 0.21% of loans, allowance 1.17%.
- Capital well-capitalized: risk-based capital 14.7%, CET1 12.5%; no share repurchases in Q1 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729986/000119312523116883/0001193125-23-116883-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729986/000119312523116883/d477064d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-116883

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