United Bankshares (UBSI) investor relations material

Executive summary

• Achieved record net income of $131.4 million and diluted EPS of $0.95 in Q2 2026, up from $124.2 million ($0.89 EPS) in Q1 2026 and $120.7 million ($0.85 EPS) in Q2 2025.

• Return on average assets was 1.56%, return on average shareholders' equity 9.53%, and return on average tangible common equity 15.15%.

• Quarterly dividend of $0.38 per share, marking 52 consecutive years of increases.

• Operates as a single community banking segment.

• Recognized as one of the most trustworthy banks in America.

Financial highlights

• Net interest income for Q2 2026 was $285.3 million, up 1% sequentially and 4% year-over-year; net interest margin (FTE) was 3.81%.

• Noninterest income for Q2 2026 was $38.5 million, up $4.4 million sequentially and 22.4% year-over-year, driven by investment gains and higher brokerage fees.

• Noninterest expense for Q2 2026 was $154.7 million, up $1.9 million sequentially and 4.52% year-over-year, mainly due to higher employee compensation.

• Provision for credit losses was $5.0 million, down from $7.8 million in Q1 2026 and $5.9 million in Q2 2025.

• Efficiency ratio improved to 47.78%.

Outlook and guidance

• Loan and deposit growth expected in the mid-single digits annualized for the remainder of 2026.

• Net interest income (non-FTE) projected at $1.15–$1.16 billion for 2026, with provision expense planned at $30 million.

• Noninterest income guidance of $135–$140 million; noninterest expense $620–$625 million for 2026.

• Effective tax rate estimated at ~20.5%; continued share buybacks anticipated.

• Management expects to meet obligations over the next 12 months and has no material commitments for capital expenditures.