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United Bankshares, Inc. Announces Record Earnings for the Second Quarter of 2025
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported record earnings for the second quarter of
About this update from United Bankshares, Inc.
[{"type":"text","content":" WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)--\nUnited Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported record earnings for the second quarter of 2025 of $120.7 million, or $0.85 per diluted share. Second quarter of 2025 results produced annualized returns on average assets, average equity, and average tangible equity, a non-GAAP measure, of 1.49%, 9.05%, and 14.67%, respectively.\n\n\n“I’m excited to announce that the second quarter of 2025 was the strongest earnings quarter in our Company’s long history,” stated Richard M. Adams, Jr., United’s Chief Executive Officer. “Our entry into the Atlanta market, along with excellent asset quality and strong expense control, drove our results in the quarter. I anticipate continued success in the second half of the year.”\n\n\nAs a result of the acquisition of Piedmont Bancorp, Inc. (“Piedmont”) on January 10, 2025, the second quarter and year of 2025 were impacted by increased levels of average balances, income, and expense. Earnings for the first quarter of 2025 were $84.3 million, or $0.59 per diluted share, and annualized returns on average assets, average equity, and average tangible equity were 1.06%, 6.47%, and 10.61%, respectively. The first quarter of 2025 was impacted by $30.0 million in pre-tax, or approximately $0.17 in after-tax earnings per diluted share, merger-related noninterest expenses and merger-related provision for credit losses. Earnings for the second quarter of 2024 were $96.5 million, or $0.71 per diluted share, and annualized returns on average assets, average equity, and average tangible equity were 1.32%, 7.99%, and 13.12%, respectively.\n\n\nSecond quarter of 2025 compared to the first quarter of 2025\n\n\nEarnings for the second quarter of 2025 were $120.7 million, or $0.85 per diluted share, as compared to earnings of $84.3 million, or $0.59 per diluted share, for the first quarter of 2025.\n\n\nNet interest income for the second quarter of 2025 was a record $274.5 million, an increase of $14.5 million, or 6%, from the first quarter of 2025. Tax-equivalent net interest income, a non-GAAP measure which adjusts for the tax-favored status of income from certain loans and investments, for the second quarter of 2025 also increased $14.5 million, or 6%, from the first quarter of 2025. The second quarter of 2025 reflected a full three months of aver...