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United Bankshares posts higher net income, lower NIM YOY in Q3

Charleston, W.Va.-based United Bankshares Inc. posted third-quarter net income of $66.0 million, or 65 cents per share, up from $64.4 million, or 62 cents per share, in the year-ago quarter.

The S&P Global Market Intelligence consensus estimate for GAAP EPS for the most recent quarter was 63 cents.

Net interest margin for the most recent quarter was 3.27%, down from 3.56% a year ago.

Provision for loan losses was $5.0 million in the third quarter, compared with $4.8 million a year earlier.

Net interest income for the period was $141.9 million, down from $148.8 million in the year-ago quarter.

Loans, net of unearned income, totaled $13.63 billion at the end of the most recent quarter, compared with $13.64 billion as of June 30 and $13.28 billion as of Sept. 30, 2018.

Total deposits were $14.10 billion as of Sept. 30, compared with $14.40 billion as of June 30 and $14.09 billion as of Sept. 30, 2018.