United Bankshares (UBSI) Q3 2026 earnings summary

Executive summary

• 3Q26 net income was $128.7 million and diluted EPS was $0.94; record net interest income (FTE) was $295.0 million, with NIM (FTE) rising to 3.86%.

• Period-end loans grew ~7.5% annualized and deposits grew ~7.9% annualized; asset quality remained sound, with NPAs at 0.35% of total assets.

• Returned capital through $52 million of common dividends and $98.7 million of share repurchases; announced a de novo Florida expansion with a planned Palm Beach banking office.

Financial highlights

• Net income was $128.7 million versus $131.4 million in 2Q26 and $130.7 million in 3Q25; diluted EPS was $0.94, $0.95 and $0.92, respectively.

• Net interest income was $294.3 million non-FTE, up 3% QoQ and 5% YoY; FTE net interest income was a record $295.0 million. NIM was 3.86%, up 5 bps QoQ and 6 bps YoY.

• Provision expense was $6.2 million versus $5.0 million in 2Q26 and $12.1 million in 3Q25; noninterest income was $30.8 million, down $7.7 million QoQ, including a $0.3 million securities loss versus a $2.8 million gain in 2Q26.

• Noninterest expense was $156.7 million, up $2.0 million QoQ; income before taxes was $162.1 million and income taxes were $33.4 million.

• 9M26 net income was $384.3 million, or $2.77 diluted EPS, versus $335.8 million and $2.36; net interest income increased 6% to $862.1 million.

Outlook and guidance

• 4Q26 annualized loan and deposit growth expected in the mid-single digits; investment portfolio balances expected to increase by mid-single digits, annualized.

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

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

• Noninterest income expected at $31–$33 million in 4Q26 and $134–$136 million for FY26; noninterest expense expected at $155–$159 million and $619–$623 million, respectively.

• 4Q26 effective tax rate estimated at ~20.5%; active share repurchases expected, subject to market conditions. Planned loan purchase accounting accretion was $5 million for 4Q26 and $22 million for FY26.