United Bankshares Inc. Reports $464.6M Net Income and Acquisition of Piedmont Bancorp in 2025

**United Bankshares Inc. Reports Financial Results for Fiscal Year 2025**

United Bankshares Inc. (UBSI) reported consolidated assets of approximately $33.7 billion as of December 31, 2025, and total shareholders’ equity of approximately $5.5 billion. The company's present business is community banking. The company's net income for the year 2025 was $464.60 million, or $3.27 per diluted share, an increase of $91.61 million from $373.00 million, or $2.75 per diluted share, for the year of 2024. Net interest income for the year 2025 increased to $1.10 billion, up $191.10 million from the previous year. The provision for credit losses was $53.87 million for the year 2025, compared to $25.15 million for the year 2024. Noninterest income was $135.15 million for the year 2025, an increase of $11.46 million from the year 2024. Noninterest expense for the year 2025 was $600.05 million, an increase of $55.02 million from the year 2024.

A significant strategic development for United Bankshares in 2025 was the acquisition of Piedmont Bancorp, Inc. on January 10, 2025. This acquisition allowed United entrance into the greater-Atlanta area marked with robust growth opportunities. Piedmont had total assets of approximately $2.4 billion, total loans of approximately $2.1 billion, total liabilities of approximately $2.2 billion, total deposits of approximately $2.1 billion, and total shareholders’ equity of approximately $202 million as of the merger date. The acquisition of Piedmont added $2.30 billion in total assets, including purchase accounting amounts. Portfolio loans increased $3.04 billion or 14.01%, investment securities increased $141.10 million or 4.33%, goodwill increased $129.96 million or 6.88%, other assets increased $31.76 million or 11.78%, bank-owned life insurance policies increased $49.95 million or 10.05%, bank premises and equipment increased $22.70 million or 12.20%, operating lease right-of-use assets increased $7.57 million or 9.26%, interest receivable increased $6.82 million or 6.66%, and cash and cash equivalents increased $250.01 million or 10.91%. Loans held for sale decreased $13.08 million or 29.49%.

United’s loan and lease portfolio, net of unearned income, increased $3.0 billion or 14.01% in 2025 mainly as a result of the Piedmont acquisition which added $2.02 billion, including purchase accounting amounts, in portfolio loans. The loan and lease portfolio is mainly comprised of commercial, real estate and consumer loans including credit card and home equity loans. Since year-end 2024, commercial, financial and agricultural loans increased $2.4 billion or 20.14% as a result of a $2.0 billion or 22.98% increase in commercial real estate loans and a $433.5 million or 12.90% increase in commercial loans (not secured by real estate). Residential real estate loans increased $590.9 million or 10.73% and construction and land development loans increased $61.9 million or 1.76%, while consumer loans remained flat, decreasing $5.9 million or less than 1%. As of December 31, 2025, the company had 2,694 employees and officers.

United Bankshares faces a high degree of competition in all of the markets it serves. The company faces strong competition in gathering deposits, making loans and obtaining client assets for management by its investment or trust operations. As of December 31, 2025, there were 61 bank holding companies operating in the State of West Virginia registered with the Federal Reserve System and the West Virginia Board of Banking and Financial Institutions, 93 bank holding companies operating in the Commonwealth of Virginia registered with the Federal Reserve System and the Virginia State Corporation Commission, 64 bank holding companies operating in the State of North Carolina registered with the Federal Reserve System and the N.C. Office of the Commissioner of Banks, 66 bank holding companies operating in the State of South Carolina registered with the Federal Reserve System and the South Carolina State Board of Financial Institutions and 158 bank holding companies operating in the State of Georgia registered with the Federal Reserve System and the Georgia Department of Banking and Finance.

The declaration and payment of future cash dividends will depend on, among other things, United’s earnings, the general economic and regulatory climate, United’s liquidity and capital requirements, and other factors deemed relevant by United’s board of directors. As of December 31, 2025, approximately $510.1 million was available for dividend payments from United Bank to United without regulatory approval. On November 20, 2025, the Board of Directors approved a new repurchase plan (the “2025 Plan”) to repurchase up to 5,000,000 shares of United’s common stock on the open market. The 2025 Plan replaced the 2022 Plan. The timing, price and quantity of purchases under the plans are at the discretion of management and the plan may be discontinued, suspended or restarted at any time depending on the facts and circumstances.