secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANKSHARES INC/WV (UBSI)
CIK:        0000729986
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001193125-24-242303
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Bankshares Q3 EPS $0.70; net income $95.3M, down slightly YoY; Piedmont merger on track
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- Diluted EPS $0.70 vs $0.71 YoY and QoQ; net income $95.3M, down from $96.2M in Q3 2023.
- Net interest income $230.3M, +2% QoQ; NIM of 3.52% vs 3.50% in Q2 2024.
- Sold remaining MSRs ($1.1B UPB) for $7.1M gain; sold $196.7M AFS securities at $6.9M loss.
- Merger with Piedmont Bancorp expected to close late Q4 2024 or early Q1 2025; combined $32B assets.
- Credit quality sound: NPLs 0.30% of loans; ALLL 1.25%; risk-based capital ratio 16.2%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/729986/000119312524242303/0001193125-24-242303-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/729986/000119312524242303/d830710d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-242303

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