United Bankshares Reports 11.27% Asset Growth and 37.2% Net Income Increase in Q3 2025

United Bankshares, Inc. reported significant financial growth in its latest 10-Q filing for the third quarter of 2025, with total assets reaching $33.41 billion, an increase of $3.38 billion or 11.27% from December 31, 2024. This growth was primarily driven by the acquisition of Piedmont Bancorp, which added approximately $2.30 billion in assets. The bank's net income for the third quarter was $130.75 million, a 37.2% increase from $95.27 million in the same period last year, while earnings per diluted share rose to $0.92 from $0.70.

The bank's net interest income for the third quarter increased by 21.65% to $280.12 million, attributed to a rise in total interest income, which grew by $48.23 million, while interest expenses decreased slightly. For the first nine months of 2025, net interest income was $814.71 million, up 20.08% from the previous year. The provision for credit losses also saw a notable increase, totaling $12.10 million for the third quarter, compared to $6.94 million in the same quarter of 2024, largely due to the acquisition-related provisions for credit losses on purchased loans.

In terms of operational metrics, total deposits increased by $2.92 billion or 12.19% to $26.88 billion, with noninterest-bearing deposits rising by 7.38% and interest-bearing deposits by 13.85%. The bank's loan portfolio also expanded significantly, with total loans net of unearned income increasing by $2.85 billion or 13.13%, driven by the Piedmont acquisition and organic growth in commercial and residential loans. The bank's allowance for loan losses increased to $300.05 million, reflecting the growth in the loan portfolio and the acquisition of Piedmont.

Strategically, United Bankshares completed the acquisition of Piedmont Bancorp on January 10, 2025, which has been integrated into its operations. The acquisition is expected to yield synergies and growth opportunities, although it has also led to increased expenses, including $31.41 million in acquisition-related costs recorded in the first nine months of 2025. The bank's management remains optimistic about future growth, citing a strong capital position with a risk-based capital ratio of 15.67% and plans to continue enhancing its product offerings and market presence.

Looking ahead, United Bankshares anticipates continued growth driven by its expanded asset base and strategic initiatives. The bank's management is focused on maintaining a strong liquidity position and managing interest rate risk effectively, especially in light of potential economic uncertainties. The outlook remains positive, with expectations for further improvements in net interest income and overall profitability as the integration of Piedmont progresses.