United Bankshares, Inc. (UBSI) SEC Filings & Earnings Calls

Net charge-offs increased to $11.6M, largely from a fully reserved commercial loan relationship; provision increased QoQ

“The provision for credit losses for the third quarter of 2026 was $6.2 million as compared to $5.0 million for the second quarter of 2026. ... $6.3 million of net charge-offs ... related to an individually evaluated commercial loan relationship for which the charged-off exposure was fully reserved as of the prior quarter-end.” · word for word

Noninterest income declined 20% QoQ due to lower mortgage banking income and investment securities losses

“Noninterest income for the third quarter of 2026 was $30.8 million, a decrease of $7.7 million, or 20%, from the second quarter of 2026.” · word for word

Repurchase plan is discretionary and may be suspended, providing flexibility but no guarantee of execution.

“The 2026 Plan does not obligate the Company to purchase any particular number of shares... may be discontinued, suspended or restarted at any time.” · word for word

Interest rate sensitivity

“The net interest margin was 3.81% for both the second quarter of 2026 and the second quarter of 2025.” · word for word

Credit risk

“Nonperforming loans increased to $110.65 million from $101.47 million at year-end 2025.”

Acquired loan accretion income declined, reducing net interest margin by ~4bp.

“Acquired loan accretion income was $5.0 million for Q2 2026, a decrease of $2.5 million from Q1 2026 which contributed to an approximately 4 basis point decrease in the interest spread and in the net interest margin.” · word for word

Unrealized losses on securities portfolio

“At March 31, 2026, gross unrealized losses on available for sale securities were $226.45 million.” · word for word

Office portfolio credit risk

“Greater risk of loss in the office portfolio due to continued hybrid and remote work that may be exacerbated by future economic conditions.” · word for word

Deposit mix shift

“Noninterest-bearing deposits decreased $163.71 million or 2.49% while interest-bearing deposits increased $223.66 million or 1.09% from December 31, 2025.” · word for word

Net interest margin slightly declined QoQ from 3.83% to 3.80% due to lower loan yields and acquired loan accretion runoff

“The net interest margin was 3.80% and 3.83% for first quarter of 2026 and the fourth quarter of 2025, respectively.” · word for word

Provision for credit losses increased QoQ from $6.8M to $7.8M, reflecting higher net charge-offs and allowance build

“The provision for credit losses for the first quarter of 2026 was $7.8 million as compared to $6.8 million for the fourth quarter of 2025.” · word for word

Merger integration risk

“Finalized the acquisition of Atlanta-based Piedmont Bancorp, Inc., marking UBSI's 34th acquisition” · word for word

Interest rate sensitivity

“Net Interest Margin (FTE) remained solid at 3.78% versus our Proxy Peer Group Average of 3.50%.” · word for word

Credit risk

“Asset Quality remained sound, with Non-Performing Assets remaining low at 0.33% of Total Assets” · word for word

Provision for credit losses decreased to $6.8M from $12.1M QoQ; credit quality remains resilient.

“The provision for credit losses was $6.8 million for the fourth quarter of 2025 as compared to $12.1 million for the third quarter of 2025” · word for word

Buyback reduces equity base; could signal limited organic investment opportunities.

“Plan may be discontinued, suspended or restarted at any time depending on facts and circumstances.” · word for word

CRE Office Credit Deterioration

“During the third quarter of 2025, United recorded $16.50 million of charge-offs reflecting updated collateral valuations on two CRE NOO loans associated with the same sponsor downgraded to nonaccrual status.” · word for word

Nonaccrual Loan Surge

“At September 30, 2025, the nonaccrual balance on the two CRE NOO loans discussed above was $60.46 million.” · word for word

Allowance Coverage Ratio Decline

“The ratio of the allowance for loan and lease losses to nonperforming loans and leases or coverage ratio was 256.75% and 370.36% at September 30, 2025 and December 31, 2024, respectively.” · word for word