United Bankshares reported record net income of $131.4 million for the second quarter of 2026, or $0.95 per diluted share, up from $120.7 million, or $0.85 per diluted share, in Q2 2025. Second-quarter annualized returns were 1.56% on average assets and 9.53% on average shareholders’ equity; net interest income was $285.3 million with a net interest margin (FTE) of 3.81%. The company repurchased ~1.5 million shares in Q2 and reported total assets of approximately $33.75 billion at June 30, 2026.

Financial Highlights

  • Net income (Q2 2026): $131.4 million; diluted EPS: $0.95 (Q2 2025: $120.7 million; $0.85 diluted).
  • Net interest income (Q2 2026): $285.3 million; net interest margin (FTE): 3.81%.
  • Income before income taxes (Q2 2026): $164.1 million; income tax expense: $32.8 million; effective tax rate ~20.0% for the quarter.
  • Provision for credit losses (Q2 2026): $5.0 million; net charge-offs Q2 2026: $5.1 million (annualized 0.08% of average loans & leases).
  • Period-end total assets: $33.75 billion; shareholders’ equity: $5.51 billion; tangible book value per share (EOP, non-GAAP): $25.29.

Business Highlights

  • Balance sheet growth: Average net loans and loans held for sale increased by roughly $970.6 million (4%) versus Q2 2025 and by approximately $1.2 billion (5%) for the first half of 2026 versus first half 2025.
  • Deposit dynamics: Total deposits were $27.17 billion at June 30, 2026, with interest-bearing deposits of $20.44 billion and noninterest-bearing deposits of $6.73 billion.
  • Capital actions: Repurchased approximately 1.5 million common shares in Q2 2026 at an average price of $43.93; repurchases totaled ~3.2 million shares in H1 2026 at an average price of $41.78.
  • Credit quality: Non-performing loans were $110.6 million (0.44% of loans & leases) and total non-performing assets were $120.9 million (0.36% of total assets) at June 30, 2026.
  • Investment activity: Strategic purchases of higher-yielding investment securities in 2026 increased yields on investment securities; Q2 included net gains on investment securities driven by the sale of an unaffiliated company investment and a VISA share exchange, partly offset by AFS sales losses.

Original SEC Filing:

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