Prince William Chamber of Commerce

United Bankshares, Inc. Announces Record Setting Earnings for the Fourth Quarter and Year of 2016

bmonahan February 8, 2017 Comments Off on United Bankshares, Inc. Announces Record Setting Earnings for the Fourth Quarter and Year of 2016
United Bankshares, Inc. Announces Record Setting Earnings for the Fourth Quarter and Year of 2016

United Bankshares, Inc. announced earnings of $39.1 million for the fourth quarter of 2016, an increase from earnings of $33.5 million for the fourth quarter of 2015. Earnings for the year of 2016 were $147.1 million, up from $138.0 million for the year of 2015. United’s return on average assets for 2016 was 1.10% compared to the Federal Reserve peer group’s (bank holding companies with total assets over $10 billion) most recently reported return on average assets of 0.90%. United increased dividends to $1.32 per share, representing the 43rd consecutive year of dividend increases to shareholders.

This is a record only one other major banking company in the United States has been able to achieve. In 2016, United reinforced its position as the community bank of the nation’s capital, completing the acquisition of Bank of Georgetown and announcing an agreement to merge with Cardinal Financial Corporation, which will be the largest acquisition in its history. Click here to read more.

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