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Sep 30, 2024
United Bankshares Q3 2024 Earnings Report
United Bankshares' earnings increased slightly, driven by strong profitability metrics and well-controlled expenses.
Key Takeaways
United Bankshares reported earnings of $95.3 million, or $0.70 per diluted share, for the third quarter of 2024. The company's profitability metrics remained strong, growth trends continued upward, and expenses were well-controlled. Asset quality, liquidity, and capital levels also remain a source of strength.
Earnings for Q3 2024 were $95.3 million, or $0.70 per diluted share.
Annualized return on average assets was 1.28%.
Annualized return on average equity was 7.72%.
Net interest income increased by $4.5 million, or 2%, from the second quarter of 2024.
United Bankshares
United Bankshares
Forward Guidance
United Bankshares expects the merger with Piedmont Bancorp to close late in the fourth quarter of 2024 or early in the first quarter of 2025.