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Chairpersons

United Bankshares, Inc. Reports Strong Earnings and Capital Growth in 2024 Annual Meeting

Strategic Insights

— 2 min read

At its 2025 Annual Meeting of Shareholders, United Bankshares, Inc. highlighted several key points from its 2024 Annual Report to Shareholders, showcasing strong earnings performance and increased dividend payments. Executive Chairman Richard M. Adams emphasized the company's commitment to consistency and sound asset quality, citing a Return on Assets of 1.26% compared to the peer median of 0.94%. This outperformance resulted in nearly $95 million in additional annualized income for the Company.

Key Takeaways:

  • United Bankshares, Inc. reported a strong earnings performance in 2024, increasing earnings per share from $2.71 to $2.75.
  • The Company's Return on Assets was 1.26%, outperforming the peer median of 0.94%.
  • United increased the dividend to shareholders for the 51st consecutive year, from $1.45 to $1.48.
  • Since 1992, UBSI stock has outperformed the KBW Bank Index with a total shareholder return of 1,387%, compared to the KBW Bank Index return of 1,108%.
  • In 2024, United announced its 34th acquisition, a deal with Atlanta-based Piedmont Bancorp, taking the Company to a then-record $32 billion in assets.
  • United's CEO Rick Adams was congratulated by Chairman Richard M. Adams for his great leadership and the efforts of all team members.
  • The Board of Directors was introduced and thanked for their dedication and service to the Company.
  • Eight new directors were elected to the Board of Directors, including Richard M. Adams, Richard M. Adams, Jr., Charles L. Capito, Jr., Peter A. Converse, Sara DuMond, Michael P. Fitzgerald, and several others.
  • Shareholders approved proposals to ratify the selection of Ernst & Young LLP as independent registered public accounting firm, approve the compensation of United's named executive officers, and approve the United 2025 Equity Incentive Plan.

Statistics:

  • United's Return on Assets (ROA) in 2024 was 1.26%, outperforming the peer median of 0.94%.
  • The Company increased the dividend to shareholders for the 51st consecutive year.
  • United's dividend payment increased from $1.45 to $1.48 per share.
  • Since 1992, UBSI stock has outperformed the KBW Bank Index with a total shareholder return of 1,387%.
  • The deal with Atlanta-based Piedmont Bancorp took the Company to a then-record $32 billion in assets.
  • United had consolidated assets of approximately $33 billion as of March 31, 2025.
  • United is the 41st largest banking company in the U.S. based on market capitalization.

Sources:

  • BusinessWire - "United Bankshares, Inc. Announces Election of Directors, Approves Proposals at 2025 Annual Meeting" (https://www.businesswire.com/news/home/20250514758586/en/)
  • United Bankshares, Inc. - 2025 Annual Meeting of Shareholders (May 14, 2025)
  • NASDAQ - United Bankshares, Inc. (UBSI) (https://www.nasdaq.com/symbol/ubs)

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