United Bankshares, Inc. (NASDAQ: UBSI) reported financial results for the third quarter and first nine months of 2026 on October 22, 2026. For the third quarter of 2026, the company reported earnings of $128.7 million, or $0.94 per diluted share. This represents a decrease from the $131.4 million, or $0.95 per diluted share, reported for the second quarter of 2026. Compared to the third quarter of 2025, earnings were slightly lower at $130.7 million, or $0.92 per diluted share.
Annualized returns on average assets, average shareholders’ equity, and average tangible common equity were reported at 1.50%, 9.24%, and 14.68%, respectively, for the third quarter of 2026. Net interest income for the third quarter was a record $294.3 million, an increase of $8.9 million, or 3%, from the second quarter. This increase was driven by loan growth funded by deposit growth, strategic purchases of higher-yielding investment securities, and higher market interest rates. The net interest margin was 3.86% for the third quarter of 2026.
Noninterest income for the third quarter was $30.8 million, a decrease of $7.7 million, or 20%, from the second quarter. This decline was primarily due to net losses on investment securities of $348 thousand and a decrease in income from mortgage banking activities. Noninterest expense for the third quarter was $156.7 million, an increase of $2.0 million from the prior quarter, driven by higher employee compensation and a reserve for unfunded loan commitments.
For the first nine months of 2026, earnings totaled $384.3 million, or $2.77 per diluted share, compared to $335.8 million, or $2.36 per diluted share, for the same period in 2025. Net interest income for the first nine months was $862.1 million, an increase of $47.4 million, or 6%, from the prior year. Average net loans and loans held for sale increased by $1.1 billion from the first nine months of 2025. The provision for credit losses for the first nine months of 2026 was $19.0 million, a significant decrease from the $47.1 million recorded in the prior year, which included $18.7 million of provision recorded on purchased non-credit deteriorated loans from the January 10, 2025, acquisition of Atlanta-based Piedmont Bancorp, Inc.
