United Bankshares, Inc. Announces Record Earnings for the Second Quarter and First Half of 2019

07/29/2019 | Corporate & Financial

WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI), today reported record earnings for the second quarter and the first half of 2019. Earnings for the second quarter of 2019 were a record $67.2 million as compared to earnings of $66.3 million for the second quarter of 2018. Diluted earnings per share were $0.66 for the second quarter of 2019 as compared to diluted earnings per share of $0.63 for the second quarter of 2018. Earnings for the first half of 2019 were a record $130.8 million as compared to earnings of $128.0 million for the first half of 2018. Diluted earnings per share were $1.28 for the first half of 2019 as compared to diluted earnings per share of $1.22 for the first half of 2018.

Second quarter of 2019 results produced an annualized return on average assets of 1.38%, an annualized return on average equity of 8.12% and an annualized return on average tangible equity of 14.90%, respectively. For the first half of 2019, United’s annualized return on average assets was 1.36% while the annualized return on average equity was 8.00% and the annualized return on average tangible equity was 14.78%. United’s annualized returns on average assets, average equity and average tangible equity were 1.42%, 8.11% and 15.14%, respectively, for the second quarter of 2018 while the annualized returns on average assets, average equity and average tangible equity were 1.39%, 7.88% and 14.72%, respectively, for the first half of 2018.

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