United Bankshares, Inc. (UBSI)

United Bankshares Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,502	1,203	864.58	724.49	721.83
Interest Income on Investments	-	198.13	137.41	70.62	76.55
Total Interest Income	1,502	1,401	1,002	795.12	798.38
Interest Paid on Deposits	591.05	391.09	80.24	41.62	78.58
Interest Paid on Borrowings	-	90.3	25.32	10.76	30.03
Total Interest Expense	591.05	481.4	105.56	52.38	108.61
Net Interest Income	911.07	919.92	896.43	742.73	689.77
Net Interest Income Growth (YoY)	-0.96%	2.62%	20.69%	7.68%	19.35%
Trust Income	19.45	18.32	17.22	16.55	13.9
Mortgage Banking Activities	25.01	40.34	51.93	181.3	272.31
Gain (Loss) on Sale of Assets	-	-	-	-	2.23
Gain (Loss) on Sale of Investments	-7.72	-7.65	0.78	2.68	3.16
Other Non-Interest Income	49.77	47.17	42.79	38.91	28.35
Total Non-Interest Income	123.7	135.26	153.26	278.13	354.78
Non-Interest Income Growth (YoY)	-8.55%	-11.75%	-44.90%	-21.60%	135.76%
Revenues Before Loan Losses	1,035	1,055	1,050	1,021	1,045
Provision for Loan Losses	25.15	31.15	18.82	-23.97	106.56
Revenue	1,010	1,024	1,031	1,045	937.99
Revenue Growth (YoY)	-1.41%	-0.66%	-1.34%	11.39%	32.65%
Salaries and Employee Benefits	288.24	266.71	278.47	325.82	317.55
Occupancy Expenses	46.08	25.39	24.47	42.03	41.3
Federal Deposit Insurance	19.74	30.38	11.99	8.35	10.13
Amortization of Goodwill & Intangibles	3.64	-	-	-	-
Selling, General & Administrative	59.33	101.96	98.02	71.22	67.87
Other Non-Interest Expense	127.5	134.49	139.3	128.48	123.84
Total Non-Interest Expense	545.03	560.22	555.09	581.34	566.48
EBT Excluding Unusual Items	464.58	463.81	475.78	463.5	371.51
Asset Writedown	-	-	-	-0.63	-1.38
Other Unusual Items	-	-	-	-0.02	-10.39
Pretax Income	464.58	463.81	475.78	462.85	359.74
Income Tax Expense	91.58	97.49	96.16	95.12	70.72
Net Income	373	366.31	379.63	367.74	289.02
Preferred Dividends & Other Adjustments	-	0.88	1	1.04	0.74
Net Income to Common	373	365.43	378.62	366.7	288.28
Net Income Growth	1.82%	-3.51%	3.23%	27.23%	11.12%
Basic Shares Outstanding	135	135	135	129	120
Diluted Shares Outstanding	135	135	135	130	120
Shares Change (YoY)	0.35%	-0.27%	4.33%	7.85%	17.91%
EPS (Basic)	2.76	2.72	2.81	2.84	2.40
EPS (Diluted)	2.75	2.71	2.80	2.83	2.40
EPS Growth	1.48%	-3.21%	-1.06%	17.92%	-5.88%
Dividend Per Share	1.480	1.450	1.440	1.410	1.400
Dividend Growth	2.07%	0.69%	2.13%	0.71%	2.19%
Effective Tax Rate	19.71%	21.02%	20.21%	20.55%	19.66%

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