United Bankshares Inc
F:UNK
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United Bankshares Inc
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United Bankshares Inc
United Bankshares is a regional bank holding company. Through its banking subsidiaries, it takes deposits, makes loans, and offers everyday banking services such as checking and savings accounts, business lending, mortgage loans, and cash-management services. Its main customers are households, small and midsize businesses, and commercial clients across the markets where it has branches. The company makes most of its money the traditional bank way: it earns interest on loans and securities, then pays less interest on deposits and other funding. It also collects fees from services such as card usage, account services, and treasury management. That mix makes it a straightforward lender and deposit taker rather than a fee-driven financial platform. What sets the business apart is its local, relationship-based banking model. United Bankshares competes by lending and serving customers through branch bankers who know their markets, which matters for small business credit, commercial real estate, and personal banking decisions. In plain terms, it sits in the middle of the financial system, gathering deposits from local customers and turning them into loans for the same communities.
United Bankshares is a regional bank holding company. Through its banking subsidiaries, it takes deposits, makes loans, and offers everyday banking services such as checking and savings accounts, business lending, mortgage loans, and cash-management services. Its main customers are households, small and midsize businesses, and commercial clients across the markets where it has branches.
The company makes most of its money the traditional bank way: it earns interest on loans and securities, then pays less interest on deposits and other funding. It also collects fees from services such as card usage, account services, and treasury management. That mix makes it a straightforward lender and deposit taker rather than a fee-driven financial platform.
What sets the business apart is its local, relationship-based banking model. United Bankshares competes by lending and serving customers through branch bankers who know their markets, which matters for small business credit, commercial real estate, and personal banking decisions. In plain terms, it sits in the middle of the financial system, gathering deposits from local customers and turning them into loans for the same communities.
Loan growth: Total loans excluding PCI loans reached $864 million, up 3.3% from year-end 2016 and 10.1% from a year ago. Management said second-quarter growth was a bit below plan, but the pipeline entering Q3 remains strong.
Margins: The tax-equivalent net interest margin was 3.78% in Q2 and 3.83% for the first half, essentially flat year over year. Management expects some improvement in Q3 as rates move higher and securities yields normalize.
Deposits: The bank kept shifting away from wholesale funding and toward retail deposits. Non-interest bearing deposits grew 19.7% year over year and now make up 12.8% of total deposits.
Earnings: Net income rose to $2.9 million in Q2 from $2.5 million in Q1 and $2.3 million a year ago, helped by higher net interest income, better non-interest income and a lower tax rate.
Guidance: Management reiterated full-year loan growth expectations of 9% to 11% and said the balance sheet strategy is to preserve margin while adding deposits and limiting credit or pricing risk.
Credit: Credit remained generally stable, with one problem relationship tied to a fire-related issue now back to current status. Charge-offs were near zero and OREO continued to decline.
