Jan. 26. United Bankshares Inc. reported record 2022 earnings of $379.6 million as compared to earnings of $367.7 million in 2021. Earnings per diluted share for 2022 were $2.80 as compared to earnings per diluted share of $2.83 for 2021. Earnings for the fourth quarter of 2022 were $99.8 million, or $0.74 per diluted share, as compared to earnings of $102.6 million, or $0.76 per diluted share, for the third quarter of 2022.

“With strong performance in the fourth quarter, 2022 finishes as one of the best years in our company’s long history,” said Richard M. Adams, Jr., United’s CEO. “Record earnings, record loan growth, and one of the best total shareholder returns in the industry highlight the year’s results. Looking ahead to 2023, our strong profitability, robust capital, disciplined expense control, and conservative credit culture have us well-positioned for success,” he said.

Last year’s results produced returns on average assets, average equity and average tangible equity, a non-GAAP measure, of 1.31%, 8.25% and 14.11%, respectively, compared to returns on average assets, average equity and average tangible equity of 1.35%, 8.30% and 14.18%, respectively, for the year of 2021.