United Bankshares (UBSI) Investor Presentation summary

Corporate profile and strategic highlights

• Operates over 240 locations across nine states and D.C., ranking as the 40th largest U.S. bank by market cap.

• Achieved 51 consecutive years of dividend increases and completed 34 acquisitions since 1982.

• Closed the Piedmont Bancorp merger on January 10, 2025, expanding into the Greater Atlanta area.

• Recognized among the most trustworthy banks in America by Newsweek in recent years.

• Member of major indices including S&P Mid Cap 400 and NASDAQ US Dividend Achiever 50.

Financial performance and profitability

• Reported 2024 net income of $373 million and diluted EPS of $2.75.

• Return on average assets was 1.26%, with a return on average equity of 7.61% and tangible equity of 12.43%.

• Net interest margin remained solid at 3.49% for 2024.

• Achieved $1.1 billion in deposit growth, with core deposit base strength and no brokered deposits.

• Efficiency ratio improved to 52.67%, reflecting strong expense control.

Loan and deposit portfolio

• Total gross loans reached $21.68 billion at year-end 2024, with growth led by construction, land development, and residential real estate.

• Loan portfolio is diversified by geography and collateral, with disciplined underwriting and a weighted average consumer FICO of ~758.

• Non-owner occupied office loans represent about 4% of total loans, mainly in the Washington DC MSA.

• End-of-period deposits totaled $23.96 billion, with 26% in non-interest-bearing accounts.

• Estimated uninsured deposits were 32% of total, and liquidity position is strong with $21 billion in available liquidity.