United Bank Names Robert Drake Senior Vice President, Managing Director of Commercial Real Estate

01/21/2020 | Product & Services

WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI), today reported earnings for the fourth quarter and year of 2019. Earnings for the fourth quarter of 2019 were $63.3 million or $0.62 per diluted share as compared to earnings of $64.0 million or $0.62 per diluted share for the fourth quarter of 2018. Earnings for the year of 2019 were a record $260.1 million or $2.55 per diluted share as compared to earnings of $256.3 million or $2.45 per diluted share for the year of 2018.

Fourth quarter of 2019 results produced an annualized return on average assets of 1.29%, an annualized return on average equity of 7.42% and an annualized return on average tangible equity of 13.38%. For the year of 2019, United’s return on average assets was 1.34% while the return on average equity was 7.80% and the return on average tangible equity was 14.26%. United’s annualized returns on average assets, average equity and average tangible equity were 1.33%, 7.77% and 14.52%, respectively, for the fourth quarter of 2018 while the returns on average assets, average equity and average tangible equity were 1.36%, 7.84% and 14.65%, respectively, for the year of 2018.

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