United Bankshares (UBSI) investor relations material

Executive summary

• Q3 2026 net income was $128.7 million and diluted EPS was $0.94; 9M net income rose to $384.3 million and diluted EPS to $2.77.

• Record Q3 net interest income was $295.0 million FTE ($294.3 million non-FTE), with NIM at 3.86%; net income eased from Q2 and Q3 2025.

• Period-end loans and deposits grew ~7.5% and ~7.9% annualized; capital returns included $52 million in common dividends and $98.7 million in share repurchases.

Financial highlights

• Q3 net interest income (non-FTE) was $294.3 million, up 5.05% YoY and 3% QoQ; 9M net interest income was $862.1 million, up 5.81%.

• Q3 net income was $128.7 million versus $131.4 million in Q2 and $130.7 million in Q3 2025; diluted EPS was $0.94, $0.95 and $0.92, respectively.

• Q3 provision expense was $6.2 million versus $5.0 million in Q2 and $12.1 million a year earlier; income before taxes was $162.1 million.

• Q3 noninterest income was $30.8 million, down 28.61% YoY; noninterest expense was $156.7 million, up 6.80% YoY.

• 9M net income rose to $384.3 million from $335.8 million; prior-year comparisons included Piedmont merger-related expenses and provision on acquired non-PCD loans.

Outlook and guidance

• 4Q26 annualized loan and deposit growth expected in the mid-single digits; investment portfolio balances expected to grow at a mid-single-digit annualized pace.

• Net interest income (non-FTE) guidance was $296–$301 million for 4Q26 and $1.158–$1.163 billion for FY26, assuming one 25 bps rate increase in 4Q26.

• Provision expense planning assumption was $8.5 million for 4Q26 and $27.5 million for FY26; estimates depend on economic outlook, credit trends and loan growth.

• 4Q26 noninterest income guidance was $31–$33 million and noninterest expense $155–$159 million; estimated effective tax rate was ~20.5%, with active repurchases subject to market conditions.