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United Bankshares, Inc. Holds Annual Meeting of Shareholders
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: UBSI), an approximately $33 billion regional financial services
About this update from United Bankshares, Inc.
[{"type":"text","content":" WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)--\nUnited Bankshares, Inc. (“United”) (NASDAQ: UBSI), an approximately $33 billion regional financial services company, held its Annual Meeting of Shareholders on Wednesday, May 14, 2025, at Congressional Country Club in Bethesda, Md.\n\nDuring the meeting, United Executive Chairman of the Board Richard M. Adams addressed shareholders by highlighting several key points from the 2024 Annual Report to Shareholders.\n\n“2024 was a great year for our Company,” Adams began. “We continued our record of strong earnings performance – increasing earnings per share from $2.71 to $2.75, outperforming our peers with a Return on Assets of 1.26% compared to the peer median of 0.94%.” This outperformance equated to nearly $95 million in additional annualized income for the Company. In addition, Adams noted that United increased the dividend to shareholders for the 51st consecutive year, from $1.45 to $1.48, as the Company celebrated its 185th anniversary in 2024. “Our consistency increasing dividends to shareholders clearly demonstrates our strong earnings, sound asset quality, and strong capital in good times and bad times over many, many years.”\n\nSince the beginning of the KBW Bank Index in 1992, UBSI stock has outperformed the Index with a total shareholder return of 1,387% compared to the KBW Bank Index return of 1,108%. Adams also highlighted that in 2024, United announced its 34th acquisition with Atlanta-based Piedmont Bancorp. The deal closed on January 10, taking the Company to a then-record $32 billion in assets and making United the 38th largest banking company in the country based on market capitalization.\n\n“We truly had a very successful year, and I would like to congratulate United CEO Rick Adams for his great leadership and the efforts of all our team members for giving us the opportunity to continue to build such a great banking company. Every day, we make a positive difference in the lives of our team members, our customers, our shareholders, and our communities,” said Adams. In addition, he introduced and thanked United’s board of directors for their dedication and service to the Company.\n\nDuring the meeting, it was announced that the following directors were elected by the shareholders to serve on the Board of Directors until the 2026 Annual Meeting: Richard M. Adams, Ex...