Oct. 25. United Bankshares Inc. reported third-quarter earnings of $96.2 million, or $0.71 per diluted share, as compared to earnings of $92.5 million, or $0.68 per diluted share, for the second quarter of 2023. Earnings for the third quarter of 2022 were $102.6 million, or $0.76 per diluted share.

“Third-quarter results saw accelerated growth and profitability, while maintaining our strong capital, liquidity, and asset quality positions,” stated CEO Richard M. Adams Jr. “I’m pleased with the resilient performance we continue to deliver in this environment.”

Third-quarter 2023 results produced annualized returns on average assets, average equity and average tangible equity, a non-GAAP measure, of 1.31%, 8.14% and 13.71%, respectively, compared to annualized returns on average assets, average equity and average tangible equity of 1.26%, 7.96% and 13.47%, respectively, for the second quarter of 2023.

Annualized returns on average assets, average equity and average tangible equity were 1.41%, 8.96% and 15.46%, respectively, for the third quarter of 2022.

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United Bankshares Lake Norman offices are located at 125 Trade Court Suite E in Mooresville and 1293 Hwy. 16 North in Denver.