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United Bankshares, Inc., through its subsidiaries, provides commercial and retail banking products and services in the United States. The company accepts checking, savings, and time and money market accounts; individual retirement accounts; and demand deposits, statement and special savings, and NOW accounts. Its loan products include commercial loans and leases to small to mid-size industrial and commercial companies, as well as automobile dealers, service, retail and wholesale merchants; construction and real estate loans, such as commercial and residential mortgages, and loans secured by owner-occupied real estate; personal, automobiles, boats, recreational vehicles, credit card receivables, commercial, and floor plan loans; and home equity loans. In addition, the company provides credit cards; trust, safe deposit boxes, wire transfers, and other banking products and services; investment and security services; buying and selling federal fund services; automated teller machine services; and internet and automated telephone banking services. Further, it offers community banking services, such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services, as well as custody of assets, investment management, escrow services, and related fiduciary activities. The company was incorporated in 1982 and is headquartered in Charleston, West Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | - | $465M | $481M | 8.5% | 20.0% | 24.6% |
| 2024 | $1.0B | - | $373M | $433M | 7.5% | -1.7% | 1.8% |
| 2023 | $1.0B | - | $366M | $424M | 7.7% | 0.7% | -3.5% |
| 2022 | $1.0B | - | $380M | $744M | 8.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,039.95 | 1,047.45 | 1,029.65 | 1,235.12 |
| Pretax Income | 475.78 | 463.81 | 464.58 | 583.40 |
| Tax Provision | 96.16 | 97.49 | 91.58 | 118.80 |
| Net Income | 379.63 | 366.31 | 373 | 464.60 |
| Net Income Common Stockholders | 379.63 | 365.43 | 372.16 | 463.57 |
| Interest Expense | 105.56 | 481.40 | 591.05 | 583.69 |
| Interest Income | 1,001.99 | 1,401.32 | 1,502.12 | 1,685.85 |
| Selling General And Administration | 300.34 | 309.55 | 307.97 | 323.41 |
| Normalized Income | 380.19 | 366.27 | 372.94 | 464.49 |
| Basic EPS | 2.81 | 2.72 | 2.76 | 0 |
| Diluted EPS | 2.80 | 2.71 | 2.75 | 0 |
| Tax Effect Of Unusual Items | -0.14 | 0.01 | 0.01 | 0.03 |
| Tax Rate For Calcs | 0.20 | 0.21 | 0.20 | 0.20 |
| Total Unusual Items | -0.70 | 0.06 | 0.07 | 0.15 |
| Total Unusual Items Excluding Goodwill | -0.70 | 0.06 | 0.07 | 0.15 |
| Net Income From Continuing Operation Net Minority Interest | 379.63 | 366.31 | 373 | 464.60 |
| Reconciled Depreciation | 23.67 | 23.11 | 10.40 | -13.05 |
| Net Interest Income | 896.43 | 919.92 | 911.07 | 1,102.16 |
| Net Income From Continuing And Discontinued Operation | 379.63 | 366.31 | 373 | 464.60 |
| Diluted Average Shares | 135.12 | 134.75 | 135.23 | 0 |
| Basic Average Shares | 134.78 | 134.51 | 134.95 | 0 |
| Diluted NI Availto Com Stockholders | 379.63 | 365.43 | 372.16 | 463.57 |
| Otherunder Preferred Stock Dividend | 0 | 0.88 | 0.83 | 1.03 |
| Net Income Including Noncontrolling Interests | 379.63 | 366.31 | 373 | 464.60 |
| Net Income Continuous Operations | 379.63 | 366.31 | 373 | 464.60 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 0.78 | -7.65 | -7.72 | 11.17 |
| General And Administrative Expense | 300.34 | 309.55 | 307.97 | 323.41 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 11.99 | 30.38 | 19.73 | 17.02 |
| Salaries And Wages | 288.35 | 279.18 | 288.24 | 306.39 |
| Operating Revenue | 1,039.95 | 1,047.45 | 1,029.65 | 1,235.12 |
| Occupancy And Equipment | 74.45 | 76.16 | 75.77 | 84.71 |
| Other Non Interest Expense | 170.56 | 166.79 | 156.18 | 189.74 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| United Bankshares, Inc.this co. | UBSI | $6.0B | 12.14 | 1.10 | 8.5% | - |
| Glacier Bancorp, Inc. | GBCI | $6.3B | 22.50 | 1.47 | 5.7% | - |
| Essent Group Ltd. | ESNT | $6.0B | 9.27 | 1.06 | 12.0% | 6.75 |
| Flagstar Bank, National Association | FLG | $5.8B | - | 0.76 | -2.2% | - |
| Hancock Whitney Corporation | HWC | $5.4B |
| 13.68 |
| 1.22 |
| 10.9% |
| - |
| Home BancShares, Inc. | HOMB | $5.4B | 10.91 | 1.20 | 11.1% | - |
| Associated Banc-Corp | ASB | $5.3B | 9.67 | 0.95 | 9.5% | - |
| Nelnet, Inc. | NNI | $5.1B | 12.10 | 1.39 | 12.0% | - |
| Selective Insurance Group, Inc. | SIGI | $5.1B | 11.58 | 1.50 | 12.9% | 8.65 |
| Peer Median | - | 11.58 | 1.21 | 11.0% | 7.70 | |