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United Bankshares, Inc. Announces Record Earnings for the Second Quarter and First Half of 2018

07/26/2018
Corporate & Financial

WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI), today reported record earnings for the second quarter and the first half of 2018. Earnings for the second quarter of 2018 were a record $66.3 million as compared to earnings of $37.1 million for the second quarter of 2017. Diluted earnings per share were $0.63 for the second quarter of 2018 as compared to diluted earnings per share of $0.37 for the second quarter of 2017. Earnings for the first half of 2018 were a record $128.0 million as compared to earnings of $75.9 million for the first half of 2017. Diluted earnings per share were $1.22 for the first half of 2018 as compared to diluted earnings per share of $0.84 for the first half of 2017.

Second quarter of 2018 results produced an annualized return on average assets of 1.42% and an annualized return on average equity of 8.11%, respectively. For the first half of 2018, United’s return on average assets was 1.39% while the return on average equity was 7.88%. United’s annualized returns on average assets and average equity were 0.82% and 4.93%, respectively, for the second quarter of 2017 while the returns on average assets and average equity were 0.94% and 5.80%, respectively, for the first half of 2017.

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