United Bankshares Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	430.18	373	366.31	379.63	367.74	289.02
Depreciation & Amortization	23.95	19.66	22.62	24.1	22.82	20.32
Gain (Loss) on Sale of Assets	0.32	0.32	0.35	0.46	0.46	1.21
Gain (Loss) on Sale of Investments	23	23	22.88	12.79	10.04	6.8
Total Asset Writedown	0.22	0.22	0.95	1.12	4.6	5.19
Provision for Credit Losses	25.15	25.15	31.15	18.82	-23.97	106.56
Net Decrease (Increase) in Loans Originated / Sold - Operating	27.96	27.96	26.5	334.11	375.63	-6.88
Accrued Interest Receivable	9.01	9.01	-16.53	-30.37	2.56	1.11
Change in Other Net Operating Assets	4.65	4.65	15.17	61.25	29.75	37.66
Other Operating Activities	-44.5	-33.84	-20.87	-10.73	-27.3	-68.08
Operating Cash Flow	496.27	445.45	435.24	760.82	609.54	140.45
Operating Cash Flow Growth	5.20%	2.35%	-42.79%	24.82%	334.00%	-7.58%
Capital Expenditures	-15.08	-12.13	-11.69	-16.86	-15.38	-19.03
Sale of Property, Plant and Equipment	1.45	0.1	2.54	0.9	1.62	4.35
Cash Acquisitions	77.48	-	-	-	39.42	629.11
Investment in Securities	322.12	882.85	819.87	-1,087	-813.94	123
Purchase / Sale of Intangibles	-	12.49	23.45	-	-	-
Net Decrease (Increase) in Loans Originated / Sold - Investing	-903.74	-318.05	-800.97	-2,367	882.15	-619.98
Other Investing Activities	6.88	3.86	2.56	11.95	-83.89	5.73
Investing Cash Flow	-510.68	571.49	38.99	-3,448	15.65	137.59
Short-Term Debt Issued	-	-	35.4	31.85	-	-
Long-Term Debt Issued	-	250	1,500	1,900	500	500
Total Debt Issued	-	250	1,535	1,932	500	500
Short-Term Debt Repaid	-	-20.01	-	-	-40.21	-232.35
Long-Term Debt Repaid	-	-1,500	-1,910	-520	-597.79	-1,847
Total Debt Repaid	-43.53	-1,520	-1,910	-520	-638	-2,079
Net Debt Issued (Repaid)	-43.53	-1,270	-374.85	1,412	-138	-1,579
Issuance of Common Stock	4.11	5.27	1.75	10.3	5.21	1.24
Repurchase of Common Stock	-79.41	-1.04	-1.38	-79.46	-11.21	-21.32
Common Dividends Paid	-206.71	-200.73	-194.73	-193.04	-181.28	-162.71
Net Increase (Decrease) in Deposit Accounts	949.84	1,143	517.27	-1,044	1,249	2,856
Financing Cash Flow	624.3	-323.64	-51.94	105.32	923.91	1,094
Net Cash Flow	609.89	693.3	422.29	-2,582	1,549	1,372
Free Cash Flow	481.18	433.33	423.55	743.96	594.16	121.42
Free Cash Flow Growth	4.78%	2.31%	-43.07%	25.21%	389.33%	-13.81%
Free Cash Flow Margin	42.69%	42.92%	41.36%	72.17%	56.87%	12.95%
Free Cash Flow Per Share	3.42	3.20	3.14	5.51	4.59	1.01
Cash Interest Paid	590.64	590.64	468.12	98.16	54.59	115.35
Cash Income Tax Paid	91.69	91.69	106.08	93.68	101.23	65.38

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

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