secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANKSHARES INC/WV (UBSI)
CIK:        0000729986
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001193125-24-184314
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Bankshares Q2 EPS $0.71 beats Q1 and YoY; NIM expands; Piedmont merger on track
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- Q2 net income $96.5M ($0.71 diluted EPS) vs $86.8M ($0.64) in Q1 and $92.5M ($0.68) in Q2 2023.
- Net interest margin improved to 3.50% from 3.44% in Q1; net interest income up $3.2M sequentially.
- Noninterest expense decreased 4% sequentially; provision for credit losses $5.8M vs $11.4M YoY.
- Non-performing loans $65.3M (0.30% of loans) up from Dec 2023 but down $9.1M from March 2024.
- Piedmont Bancorp acquisition expected close late Q4 2024 or early Q1 2025; combined assets >$32B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729986/000119312524184314/0001193125-24-184314-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729986/000119312524184314/d875088d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-184314

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