United Bankshares, Inc. Announces Earnings for the Third Quarter and First Nine Months of 2018

10/25/2018 | Corporate & Financial

WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI), today reported earnings for the third quarter and the first nine months of 2018. Earnings for the third quarter of 2018 were $64.4 million as compared to earnings of $56.7 million for the third quarter of 2017. Diluted earnings per share were $0.62 for the third quarter of 2018 as compared to diluted earnings per share of $0.54 for the third quarter of 2017. Earnings for the first nine months of 2018 were a record $192.4 million as compared to earnings of $132.6 million for the first nine months of 2017. Diluted earnings per share were $1.83 for the first nine months of 2018 as compared to diluted earnings per share of $1.39 per diluted share for the first nine months of 2017.

Third quarter of 2018 results produced an annualized return on average assets of 1.34% and an annualized return on average equity of 7.83%, respectively. For the first nine months of 2018, United’s return on average assets was 1.37% while the return on average equity was 7.86%. United’s annualized returns on average assets and average equity were 1.19% and 6.89%, respectively, for the third quarter of 2017 while the returns on average assets and average equity were 1.03% and 6.22%, respectively, for the first nine months of 2017.

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