secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANKSHARES INC/WV (UBSI)
CIK:        0000729986
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001193125-24-111600
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729986/000119312524111600/0001193125-24-111600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729986/000119312524111600/d817690d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-111600

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