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Dec 31, 2022
United Bankshares Q4 2022 Earnings Report
United Bankshares reported a strong performance in Q4 2022, marked by record net interest income and solid profitability.
Key Takeaways
United Bankshares, Inc. reported earnings of $99.8 million, or $0.74 per diluted share, for the fourth quarter of 2022. The results were driven by record net interest income of $249.4 million and strong loan growth.
Record earnings were achieved for the year of 2022.
Net interest income reached a record high for both the fourth quarter and the year.
Annualized loan growth, excluding PPP loans, was 18% for the fourth quarter.
Net interest margin increased 93 basis points from the fourth quarter of 2021.
United Bankshares
United Bankshares
Forward Guidance
United is well-positioned for success in 2023 due to strong profitability, robust capital, disciplined expense control, and a conservative credit culture.