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

United Bankshares Q2 profit rises to $96.5 million, or $0.71 per diluted share

Positive Impact 3 of 5 earnings Written later

United Bankshares reported second-quarter 2024 net income of $96.5 million, or $0.71 per diluted share, up from $86.8 million, or $0.64, in the first quarter of 2024 and $92.5 million, or $0.68, in the second quarter of 2023. Net interest margin rose to 3.50% from 3.44% in the first quarter, while noninterest income fell 14% year over year. The pending merger with Piedmont Bancorp, Inc. is expected to close late in the fourth quarter of 2024 or early in the first quarter of 2025, subject to customary closing conditions.

Key points

  • Q2 2024 net income was $96.5 million, or $0.71 per diluted share, versus $86.8 million, or $0.64, in Q1 2024 and $92.5 million, or $0.68, in Q2 2023.
  • Net interest margin was 3.50% for Q2 2024, up 6 basis points from 3.44% in Q1 2024.
  • Noninterest income was $30.2 million in Q2 2024, down $5.0 million, or 14%, from Q2 2023; noninterest expense was $134.8 million.
  • Piedmont Bancorp merger expected to close late in Q4 2024 or early in Q1 2025.

The filing

CompanyUnited Bankshares (UBSI)
Form8-K, current report
Filed with the SECJul 25, 2024, 8:01 AM ET
Accession number0001193125-24-184314

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:59 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 July 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.