United Bankshares, Inc. · NASDAQ:UBSI
United Bankshares — Q2 2026 Earnings Presentation
18 slides from United Bankshares's earnings presentation, Jul 23, 2026
Slide 1: United Bankshares, Inc. (UBSI) Second Quarter 2026 Earnings Review
United Bankshares, Inc. (UBSI) Second Quarter 2026 Earnings Review July 23, 2026
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation and statements made by United Bankshares, Inc. (“UBSI”) and its management contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking sta
Slide 3: 2Q26 Highlights
2Q26 HIGHLIGHTS • Achieved record Net Income of $131.4 million and record Diluted Earnings Per Share of $0.95 • Generated Return on Average Assets of 1.56%, Return on Average Shareholders' Equity of 9.53%, and Return on Average Tangible Common Equity* of 15.15% • Returned capital through $53 million
Slide 4: Earnings Summary
EARNINGS SUMMARY In thousands, except per share data Three Months Ended 2Q26 1Q26 2Q25 Interest & Fees Income $ 418,197 $ 415,929 $ 421,196 Interest Expense $ 132,885 $ 133,414 $ 146,659 Net Interest Income $ 285,312 $ 282,515 $ 274,537 Provision for Credit Losses $ 4,961 $ 7,776 $ 5,889 Noninterest
Slide 5: Performance Ratios
PERFORMANCE RATIOS Strong profitability and expense control Return on Average Assets Efficiency Ratio 1.80% 60.00% 1.60% 50.00% 1.40% 1.20% 40.00% 1.00% 30.00% 0.80% 0.60% 20.00% 0.40% 10.00% 0.20% 0.00% 0.00% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Return on Average Return on Average Shar
Slide 6: Net Interest Income and Margin
NET INTEREST INCOME AND MARGIN Average Yields Net Interest Income & Net Interest Margin (FTE) 7.00% $300 4.50% $275 4.00% 6.00% $250 $225 3.50% 5.00% $200 3.00% $175 2.50% 4.00% $150 $125 2.00% 3.00% $100 1.50% $75 1.00% 2.00% $50 $25 0.50% 1.00% $0 0.00% 2Q25 3Q25 4Q25 1Q26 2Q26 Loan PA Accretion 1
Slide 7: Loan Summary
LOAN SUMMARY (EXCLUDES LOANS HELD FOR SALE) Loans, EOP ($ in millions) 2Q26 % of Total LQ Change Owner Occupied CRE $ 2,171 8.7% $ 31 $26,000 $24,875 $25,006 $24,531 $24,721 Non Owner Occupied CRE $ 8,722 34.9% $ 175 $24,061 $24,000 Commercial $ 3,807 15.2% $ 48 $22,000 Residential Real Estate $ 6,1
Slide 8: Loan Portfolio Geographic Details
LOAN PORTFOLIO GEOGRAPHIC DETAILS Diversified portfolio with strong underwriting practices and ongoing monitoring Total Loans Loan Segments Residential Other Total Loans CRE NOO CRE OO C&D C&I Real Estate Consumer Total Loans ($ Billions) 25.0 8.7 2.2 3.3 3.8 6.2 0.8 % of Total Loans 100% 35% 9% 13%
Slide 9: Credit Quality
CREDIT QUALITY End of Period Balances ($ in thousands) 3/31/26 6/30/26 Non-Accrual Loans $91,170 $99,301 90-Day Past Due Loans $11,664 $11,346 Total Non-performing Loans $102,834 $110,647 Other Real Estate Owned $10,390 $10,212 Total Non-performing Assets $113,224 $120,859 Non-performing Loans / Loa
Slide 10: Deposit Summary
DEPOSIT SUMMARY Deposits, EOP ($ in millions) 2Q26 % of Total LQ Change Non Interest Bearing $ 6,732 24.8% $ 322 $28,000 $26,884 $27,061 $27,121 $27,171 $26,336 Interest Bearing Transaction $ 6,438 23.7% $ (180) $26,000 Regular Savings $ 1,273 4.7% $ (13) $24,000 Money Market Accounts $ 7,898 29.1%
Slide 11: Liquidity Position & Additional Deposit Detail
LIQUIDITY POSITION & ADDITIONAL DEPOSIT DETAIL Deposit Account Details ($ in millions) End of Period Ratios / Values 6/30/26 % of Total Deposits Estimated Uninsured Deposits (less affiliate and collateralized deposits) $8,847 33% Estimated Insured/Collateralized Deposits $18,324 67% Total Deposits $
Slide 12: Capital Ratios and Per Share Data
CAPITAL RATIOS AND PER SHARE DATA End of Period Ratios / Values 3/31/26 6/30/26** Common Equity Tier 1 Ratio 13.3% 13.3% Tier 1 Capital Ratio 13.3% 13.3% Total Risk Based Capital Ratio 15.5% 15.6% Leverage Ratio 11.2% 11.3% Total Shareholders' Equity to Total Assets 16.3% 16.3% *Tangible Common Equi
Slide 13: 2026 Outlook
2026 OUTLOOK Select guidance is being provided for 2026. Our outlook may change if the expectations for these items vary from current expectations. • Balance Sheet: Expect loan and deposit growth rates to be in the mid single digits for the remainder of 2026 (annualized). Loan pipelines remain relat
Slide 14: Investment Thesis
INVESTMENT THESIS • Premier Mid-Atlantic and Southeast franchise with an attractive mix of high growth MSAs and smaller stable markets with a strong deposit base • Consistently high-performing company with a culture of disciplined risk management and expense control • 52 consecutive years of dividen
Slide 15: Demonstrated History of Successful Acquisitions
DEMONSTRATED HISTORY OF SUCCESSFUL ACQUISITIONS 40.0 Closed on 1/10/25 35.0 $33.7 $29.5 $29.9 $30.0 30.0 $29.3 $26.2 25.0 Total Assets ($B) $19.3 $19.7 20.0 $19.1 $14.5 15.0 $12.3 $12.6 10.0 $8.7 5.0 0.0 2013Y 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y 15 Source: S&P Cap
Slide 16: Appendix
APPENDIX UNITED BANKSHARES, INC.
Slide 17: Reconciliation of Non-GAAP Items
RECONCILIATION OF NON-GAAP ITEMS (dollars in thousands) 2Q25 3Q25 4Q25 1Q26 2Q26 (1) Return on Average Tangible Common Equity (A) Net Income (GAAP) $120,721 $130,748 $128,828 $124,200 $131,377 (B) Number of Days in the Quarter 91 92 92 90 91 Average Total Shareholders' Equity (GAAP) $5,351,140 $5,41
Slide 18: Reconciliation of Non-GAAP Items (Cont.)
RECONCILIATION OF NON-GAAP ITEMS (CONT.) (dollars in thousands) 3/31/2026 6/30/2026 (2) Tangible Common Equity to Tangible Assets Total Assets (GAAP) $ 33,705,380 $ 33,751,832 Less: Total Intangibles (GAAP) (2,049,277) (2,047,439) Tangible Assets (non-GAAP) $ 31,656,103 $ 31,704,393 Total Shareholde