United Bankshares, Inc. (UBSI)

United Bankshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,297	1,203	864.58	724.49	721.83	666.95
Interest Income on Investments	198.13	198.13	137.41	70.62	76.55	95.61
Total Interest Income	1,495	1,401	1,002	795.12	798.38	762.56
Interest Paid on Deposits	496.81	391.09	80.24	41.62	78.58	135.65
Interest Paid on Borrowings	90.3	90.3	25.32	10.76	30.03	48.99
Total Interest Expense	587.11	481.4	105.56	52.38	108.61	184.64
Net Interest Income	908.15	919.92	896.43	742.73	689.77	577.92
Net Interest Income Growth (YoY)	-3.35%	2.62%	20.69%	7.68%	19.35%	-1.82%
Trust Income	18.8	18.32	17.22	16.55	13.9	13.87
Mortgage Banking Activities	28.23	40.34	51.93	181.3	272.31	76.95
Gain (Loss) on Sale of Assets	-	-	-	-	2.23	-
Gain (Loss) on Sale of Investments	-6.76	-7.65	0.78	2.68	3.16	0.18
Other Non-Interest Income	50.96	47.17	42.79	38.91	28.35	25.72
Total Non-Interest Income	128.05	135.26	153.26	278.13	354.78	150.48
Non-Interest Income Growth (YoY)	-5.33%	-11.75%	-44.90%	-21.60%	135.76%	16.92%
Revenues Before Loan Losses	1,036	1,055	1,050	1,021	1,045	728.41
Provision for Loan Losses	25.34	31.15	18.82	-23.97	106.56	21.31
Revenue	1,011	1,024	1,031	1,045	937.99	707.09
Revenue Growth (YoY)	-2.26%	-0.66%	-1.34%	11.39%	32.65%	1.69%
Salaries and Employee Benefits	271.31	266.71	278.47	325.82	317.55	204.79
Occupancy Expenses	25.67	25.39	24.47	42.03	41.3	34.85
Federal Deposit Insurance	32.47	30.38	11.99	8.35	10.13	8.07
Selling, General & Administrative	102.05	101.96	98.02	71.22	67.87	46.44
Other Non-Interest Expense	132.24	134.49	139.3	128.48	123.84	78.06
Total Non-Interest Expense	563.14	560.22	555.09	581.34	566.48	377.55
EBT Excluding Unusual Items	447.72	463.81	475.78	463.5	371.51	329.54
Asset Writedown	-	-	-	-0.63	-1.38	-
Other Unusual Items	-	-	-	-0.02	-10.39	-5.11
Pretax Income	447.72	463.81	475.78	462.85	359.74	324.44
Income Tax Expense	89.75	97.49	96.16	95.12	70.72	64.34
Net Income	357.98	366.31	379.63	367.74	289.02	260.1
Preferred Dividends & Other Adjustments	0.88	0.88	1	1.04	0.74	0.6
Net Income to Common	357.1	365.43	378.62	366.7	288.28	259.5
Net Income Growth	-7.42%	-3.51%	3.23%	27.23%	11.12%	1.47%
Basic Shares Outstanding	135	135	135	129	120	102
Diluted Shares Outstanding	135	135	135	130	120	102
Shares Change (YoY)	0.21%	-0.27%	4.33%	7.85%	17.91%	-2.35%
EPS (Basic)	2.65	2.72	2.81	2.84	2.40	2.55
EPS (Diluted)	2.65	2.71	2.80	2.83	2.40	2.55
EPS Growth	-7.39%	-3.21%	-1.06%	17.92%	-5.88%	4.08%
Dividend Per Share	1.480	1.450	1.440	1.410	1.400	1.370
Dividend Growth	2.78%	0.69%	2.13%	0.71%	2.19%	0.74%
Effective Tax Rate	20.04%	21.02%	20.21%	20.55%	19.66%	19.83%

Source: S&P Capital IQ. Banks template. Financial Sources.