United Bankshares, Inc. reported a net income of $124.2 million for the first quarter of 2026, a significant increase from $84.3 million in the same period last year. This translates to earnings per diluted share of $0.89, up from $0.59 in the first quarter of 2025. The bank's total interest income rose to $415.9 million, compared to $403.6 million in the prior year, while interest expense decreased to $133.4 million from $143.6 million, contributing to a net interest income of $282.5 million, an increase of 8.6% year-over-year.
In terms of balance sheet performance, total assets as of March 31, 2026, stood at $33.71 billion, slightly up from $33.66 billion at the end of 2025. The bank's loan portfolio increased marginally by $154.0 million, or 0.6%, to $24.86 billion, driven primarily by growth in commercial real estate loans. Deposits also saw a modest increase of $59.9 million, or 0.2%, totaling $27.12 billion, with a notable shift from noninterest-bearing to interest-bearing deposits.
Strategically, United Bankshares continues to focus on enhancing its noninterest income, which rose by 15.3% to $34.1 million, driven by increased fees from brokerage services and net gains on investment securities. The bank's operational efficiency remained stable, with total noninterest expenses decreasing slightly to $152.8 million, reflecting a reduction in merger-related costs from the previous year. The bank's provision for credit losses was significantly lower at $7.8 million compared to $29.1 million in the first quarter of 2025, indicating improved credit quality.
Looking ahead, United Bankshares maintains a positive outlook, supported by a strong capital position with a risk-based capital ratio of 15.54% and a Common Equity Tier 1 capital ratio of 13.27%. The bank's management is focused on leveraging its community banking segment to drive growth while managing interest rate risk effectively. The bank's asset-liability management strategies are designed to ensure consistent growth in net interest income, even in fluctuating market conditions.
About UNITED BANKSHARES INC/WV
United Bankshares, Inc. is a West Virginia-based financial holding company specializing in community banking. It offers a full range of banking services, including deposit accounts, loans, mortgage origination, and asset management. Operating primarily in the Mid-Atlantic and Southeast regions, it emphasizes customer service, risk management, and employee development to maintain a competitive edge in local markets.
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