United Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 07:50 am EDT
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United Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 228.45 million compared to USD 240.62 million a year ago. Net income was USD 96.16 million compared to USD 102.59 million a year ago. Basic earnings per share from continuing operations was USD 0.71 compared to USD 0.76 a year ago. Diluted earnings per share from continuing operations was USD 0.71 compared to USD 0.76 a year ago.
For the nine months, net interest income was USD 690.23 million compared to USD 647.03 million a year ago. Net income was USD 286.92 million compared to USD 279.86 million a year ago. Basic earnings per share from continuing operations was USD 2.13 compared to USD 2.07 a year ago. Diluted earnings per share from continuing operations was USD 2.12 compared to USD 2.06 a year ago.
United Bankshares, Inc. is a financial holding company. The Company's segments include community banking and mortgage banking. The community banking segment includes both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing and consumer loans. In addition, this segment provides customers with several choices of deposit products including demand deposit accounts, savings accounts and certificates of deposit as well as investment and financial advisory services to businesses and individuals, including financial planning, retirement/estate planning, and investment management. The mortgage banking segment engages primarily in the origination and acquisition of residential mortgages for sale into the secondary market though Unitedâs mortgage banking subsidiaries, George Mason and Crescent. The Company has one banking subsidiary doing business under the name of United Bank. It also owns nonbank subsidiaries.
UNITED BANKSHARES, INC. 
