United Bankshares Q1 2024 net income $86.8M ($0.64 EPS), down from $0.73 YoY

UNITED BANKSHARES INC/WV

2024-Q1 EPS reported $0.64

Net income $86.8M vs $98.3M in Q1 2023 and $79.4M in Q4 2023; diluted EPS $0.64.
Net interest margin 3.44%, down 19 bps YoY and 11 bps QoQ on deposit repricing.
Non-performing loans rose to $74.4M (0.35% of loans) from $45.5M (0.21%) driven by one C&I relationship.
FDIC special assessment added $1.8M noninterest expense in Q1 2024.
No share repurchases in 2023 or 2024; well-capitalized with risk-based capital 15.6%.

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 0.98

UNITED BANKSHARES INC/WV reported first quarter of 2024 results: net income $86.8 million, or $0.64 per diluted share, EPS $0.64 per diluted share.

Period: first quarter of 2024
Net income: $86.8 million, or $0.64 per diluted share
EPS: $0.64 per diluted share
Result: reported results

Exact text from the filing

United Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported earnings for the first quarter of 2024 of $86.8 million, or $0.64 per diluted share.

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Source: SEC EDGAR

accession 0001193125-24-111600

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