United Bankshares Q2 EPS $0.68, down from $0.73 Q1 and $0.71 YoY

UNITED BANKSHARES INC/WV

2023-Q2 EPS reported $1.41

Net income $92.5M; diluted EPS $0.68 vs $0.73 in Q1 2023 and $0.71 in Q2 2022.
Net interest margin 3.51% vs 3.63% Q1; provision for credit losses $11.4M vs $6.9M Q1.
Sold MSRs on $2.0B UPB for $8.1M gain; sold $187M AFS securities at $7.2M loss.
Non-performing loans 0.20% of loans vs 0.29% at Dec 2022; allowance 1.21% vs 1.14%.
No share repurchases in H1 2023; capital ratios well above well-capitalized minimums.

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 1.0

UNITED BANKSHARES INC/WV reported the second quarter of 2023 results: net income $92.5 million, EPS $0.68 per diluted share.

Period: the second quarter of 2023
Net income: $92.5 million
EPS: $0.68 per diluted share
Result: reported results

Exact text from the filing

United Bankshares, Inc. (NASDAQ: UBSI) ("United"), today reported earnings for the second quarter of 2023 of $92.5 million, or $0.68 per diluted share, as compared to earnings of $98.3 million, or $0.73 per diluted share, for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-23-195366

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