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AI brief of an SEC Form 8-K · United Bankshares (UBSI)

United Bankshares Q1 earnings fall to $86.8 million, $0.64 per share from $0.73

Negative Impact 3 of 5 earnings Written later

United Bankshares reported first-quarter 2024 net income of $86.8 million, or $0.64 per diluted share, down from $98.3 million, or $0.73 per diluted share, a year earlier, though up from $79.4 million in the fourth quarter of 2023. Net interest income fell 5% from a year earlier, while the company's capital ratios and credit metrics were reported as sound, and the company did not repurchase shares in 2023 or the first quarter of 2024.

Key points

  • Q1 2024 net income $86.8 million, or $0.64 per diluted share, versus $98.3 million, or $0.73, in Q1 2023 and $79.4 million, or $0.59, in Q4 2023
  • Net interest income of $222.5 million for Q1 2024 was down $11.8 million, or 5%, from Q1 2023, mainly due to higher deposit interest expense
  • Non-performing loans rose to $74.4 million, or 0.35% of loans, at March 31, 2024, from $45.5 million at December 31, 2023, driven by one commercial and industrial loan relationship
  • Q1 2024 included $1.8 million of FDIC special assessment expense; the quarterly cash dividend was $0.37 per share

The filing

CompanyUnited Bankshares (UBSI)
Form8-K, current report
Filed with the SECApr 25, 2024, 8:00 AM ET
Accession number0001193125-24-111600

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.