reports
United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc...
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), parent company of United Bank, today announced the completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc. (“Piedmont”), parent company of The Piedmont Bank. “We are thrilled to have Piedmont join the United family,” said Richard M. Adams, Jr., CEO of United Bankshares, Inc. “This transaction allows us to grow our presence in one of the most desirable banking markets in the nation. We look forward to serving the employees, customers, and communities in our new footprint.” The acqu...
United Bankshares, Inc. Receives Final Regulatory Approval for Piedmon...
WASHINGTON, D.C. & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), the parent company of United Bank, today announced it has received all requisite regulatory approvals for its proposed merger with Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank. “We are pleased to have received regulatory approval from the Federal Reserve and state banking authorities for this merger, and we remain excited about expanding our footprint into the greater Atlanta area,” said Richard M. Adams, Jr., CEO of United Bankshares, Inc. “We look forward t...
51st Consecutive Year of Dividend Increases for United Bankshares, Inc...
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ) today announced that its Board of Directors declared a fourth quarter dividend of $0.37 per share for shareholders of record as of December 13, 2024. Dividends per share of $1.48 for the year 2024 represents an increase over the $1.45 per share paid for the year of 2023. The dividend is payable January 2, 2025. The year 2024 marks the 51st consecutive year of dividend increases to United shareholders. United is one of only two major banking companies in the USA to have increased its dividend to sh...
United Bankshares, Inc. Announces Earnings for the Third Quarter and F...
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: ) (“United”), today reported earnings for the third quarter of 2024 of $95.3 million, or $0.70 per diluted share. Third quarter of 2024 results produced annualized returns on average assets, average equity, and average tangible equity, a non-GAAP measure, of 1.28%, 7.72%, and 12.59%, respectively. “We are excited to announce this quarter’s earnings,” stated Richard M. Adams, Jr., United’s Chief Executive Officer. “It was another successful quarter for UBSI, and we continue to perform at a high level. Profitabi...
United Bankshares, Inc. Elects Dr. Sara DuMond to its Board of Directo...
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), a $30 billion regional financial services company, today announced the appointment of Sara DuMond, MD, FAAP, to its board of directors, effective Oct. 21, 2024. Dr. DuMond is a practicing board-certified pediatrician and the founder and chief executive officer of Pediatric Housecalls, PLLC. She graduated summa cum laude from West Virginia University with a bachelor’s degree in physical therapy and went on to earn her medical degree from the West Virginia University School of Medicine with Alpha O...
United Bankshares Declares Third Quarter Dividend
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), today announced that its Board of Directors declared a third quarter dividend of $0.37 per share for shareholders of record as of September 13, 2024. The dividend payout of approximately $50.0 million on 135.2 million shares is payable October 1, 2024. The year of 2023 represented the 50th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record. As of June 30, 2024, United had consolidated assets of app...
United Bankshares, Inc. Announces Earnings for the Second Quarter and ...
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: ) (“United”), today reported earnings for the second quarter of 2024 of $96.5 million, or $0.71 per diluted share. Second quarter of 2024 results produced annualized returns on average assets, average equity and average tangible equity, a non-GAAP measure, of 1.32%, 7.99% and 13.12%, respectively. “UBSI continues to consistently deliver exceptional results,” stated Richard M. Adams, Jr., United’s Chief Executive Officer. “In the second quarter we saw increases in profitability, capital, loans, and deposits, a...
United Bankshares, Inc. Holds Annual Meeting of Shareholders
WASHINGTON & CHARLESTON, W.V.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), a $30 billion regional financial services company, held its Annual Meeting of Shareholders on Wednesday, May 15, 2024, at Congressional Country Club in Bethesda, Md. During the meeting, United Executive Chairman of the Board Richard M. Adams addressed shareholders by highlighting several key points from the 2023 Annual Report to Shareholders. 2023 was a year of growth, profitability, and soundness for United. The Company grew loans, grew deposits, and increased its net interest margin versus the...
United Bankshares Declares Second Quarter Dividend
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”)(NASDAQ: ), today announced that its Board of Directors declared a second quarter dividend of $0.37 per share for shareholders of record as of June 14, 2024. The dividend payout of approximately $52.7 million on 135.2 million shares is payable July 1, 2024. The year of 2023 represented the 50th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record. As of March 31, 2024, United had consolidated assets of approximat...
United Bankshares, Inc. to Acquire Piedmont Bancorp, Inc.
WASHINGTON & PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), the parent company of United Bank, and Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank, today announced they have entered into a definitive merger agreement under which United will acquire Piedmont. This merger will bring together two high-performing banking companies and strengthen United’s position in the Mid-Atlantic and Southeast, making United the 39th largest banking company in the U.S. based on market capitalization. This transaction represents United’s 34th...
United Bankshares, Inc. Announces Earnings for the First Quarter of 20...
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: ) (“United”), today reported earnings for the first quarter of 2024 of $86.8 million, or $0.64 per diluted share. First quarter of 2024 results produced annualized returns on average assets, average equity and average tangible equity, a non-GAAP measure, of 1.19%, 7.25% and 11.98%, respectively. The first quarter of 2024 included $1.8 million of noninterest expense for the Federal Deposit Insurance Corporation’s (“FDIC”) special assessment levied on banking organizations stemming from the FDIC’s revised loss es...
United Bankshares, Inc. to Present at the Raymond James 45th Annual In...
WASHINGTON & CHARLESTON, W.Va--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ), will be presenting at the Raymond James 45th Annual Institutional Investors Conference on Monday, March 4, 2024, at 9:15 a.m. (Eastern). Speaking on behalf of United will be Rick Adams, Chief Executive Officer, and W. Mark Tatterson, Executive Vice President and Chief Financial Officer. The presentation will include, among other things, a discussion of United’s financial performance and corporate objectives. The presentation, which is expected to last 30 minutes, may be streamed by accessing the e...
United Bankshares Declares First Quarter Dividend
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: ) today announced that its Board of Directors declared a first quarter 2024 dividend of $0.37 per share for shareholders of record as of March 8, 2024. The dividend payout of approximately $49.9 million on 135.0 million shares is payable April 1, 2024. The year of 2023 represented the 50th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record. As of December 31, 2023, United had consolidated assets of approximately ...
United Bankshares, Inc. Announces Earnings for the Fourth Quarter and ...
WASHINGTON & CHARLESTON, W.Va--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported earnings for the fourth quarter of 2023 of $79.4 million, or $0.59 per diluted share. Fourth quarter of 2023 results produced annualized returns on average assets, average equity and average tangible equity, a non-GAAP measure, of 1.08%, 6.70% and 11.27%, respectively. Earnings for the year of 2023 were $366.3 million, or $2.71 per diluted share, and returns on average assets, average equity and average tangible equity were 1.25%, 7.87% and 13.33%, respectively, for the year of 20...
50th Consecutive Year of Dividend Increases for United Bankshares, Inc...
WASHINGTON & CHARLESTON, W.V.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: ) today announced that its Board of Directors declared a fourth quarter dividend of $0.37 per share for shareholders of record as of December 8, 2023. Dividends per share of $1.45 for the year 2023 represents an increase over the $1.44 per share paid for the year of 2022. The dividend payout of approximately $49.9 million on 134.9 million shares is payable January 2, 2024. The year 2023 marks the 50th consecutive year of dividend increases to United shareholders. “Fifty years of dividend growth is a ...
United Bankshares, Inc. Announces Earnings for the Third Quarter and F...
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: ) (“United”), today reported earnings for the third quarter of 2023 of $96.2 million, or $0.71 per diluted share, as compared to earnings of $92.5 million, or $0.68 per diluted share, for the second quarter of 2023. Earnings for the third quarter of 2022 were $102.6 million, or $0.76 per diluted share. “Third quarter results saw accelerated growth and profitability, while maintaining our strong capital, liquidity, and asset quality positions,” stated Richard M. Adams, Jr., United’s Chief Executive Officer. “I’...
United Bankshares Declares Third Quarter Dividend
WASHINGTON & CHARLESTON, W.V.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”)(NASDAQ: ), today announced that its Board of Directors declared a third quarter dividend of $0.36 per share for shareholders of record as of September 8, 2023. The dividend payout of approximately $48.6 million on 134.9 million shares is payable October 2, 2023. The year of 2022 represented the 49th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record. As of June 30, 2023, United had consolidated assets of approxi...
United Bankshares, Inc. Announces Earnings for the Second Quarter and ...
WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) (“United”), today reported earnings for the second quarter of 2023 of $92.5 million, or $0.68 per diluted share, as compared to earnings of $98.3 million, or $0.73 per diluted share, for the first quarter of 2023. Earnings for the second quarter of 2022 were $95.6 million, or $0.71 per diluted share. “UBSI’s performance remained strong in the second quarter,” stated Richard M. Adams, Jr., United’s Chief Executive Officer. “Our profitability, asset quality, and balance sheet strength continue to allow us ...
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