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United Bankshares, Inc. Announces Earnings for the Third Quarter of 2026

UBSI
  • United Bankshares reported third quarter 2026 net income of $128.7 million, or $0.94 per diluted share, down from $131.4 million ($0.95 per share) in the second quarter 2026.
  • Annualized returns on average assets, equity, and tangible common equity for the third quarter 2026 were 1.50%, 9.24%, and 14.68%, respectively.
  • Net interest income reached a record $294.3 million for the quarter, a 3% increase from the prior quarter, driven by loan growth, higher yielding securities purchases, and market interest rates.
  • The net interest margin expanded to 3.86% in the third quarter 2026 from 3.81% in the second quarter 2026.
  • The provision for credit losses was $6.2 million for the quarter, compared to $5.0 million in the second quarter, reflecting $11.6 million in net charge-offs including a $6.3 million charge-off on a fully reserved commercial loan.
  • Noninterest income decreased 20% to $30.8 million, primarily due to a shift from net gains to net losses on investment securities and lower mortgage banking activity.
  • Noninterest expense increased 1% to $156.7 million, driven by higher employee compensation and increased reserves for unfunded loan commitments, partially offset by lower employee benefits.
  • For the first nine months of 2026, net income totaled $384.3 million, or $2.77 per diluted share, compared to $335.8 million, or $2.36 per share, in the same period of 2025.
  • First nine months 2026 net interest income rose 6% to $862.1 million, while the provision for credit losses decreased significantly to $19.0 million from $47.1 million in the prior year period.
  • At September 30, 2026, non-performing loans were $109.9 million (0.43% of loans), non-performing assets were $121.1 million (0.35% of total assets), and the allowance for loan losses was $294.1 million (1.16% of loans).
  • United repurchased approximately 2.1 million shares during the third quarter 2026 at an average price of $46.84.
  • Capital ratios remained strong with a risk-based capital ratio of 15.2%, Common Equity Tier 1 ratio of 12.9%, Tier 1 ratio of 12.9%, and leverage ratio of 11.1% at quarter end.
  • The company operates with consolidated assets of approximately $34 billion and maintains over 240 offices across the Washington D.C. area, Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia.