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United Bancshares (UBSI) in Charleston, W.Va., and Virginia Commerce Bancorp (VCBI) in Arlington have pushed back the deadline for their merger as they await final regulatory approval.
December 2 -
United Bankshares (UBSI) in Charleston, W. Va., posted higher quarterly earnings due largely to reduced expenses.
October 29 -
Earnings at United Bankshares rose 5% from a year earlier to $21.2 million. Earnings of 42 cents a share were 1 cent below analysts' average estimate, according to Bloomberg.
January 30 -
A legal settlement and an investment loss weighed on United Bankshares (UBSI) in Charleston, W.Va., in the third quarter.
October 25
United Bankshares (UBSI) in Charleston, W.Va., saw earnings fall as fee income took a dive last quarter.
The company
With earnings per share of 39 cents, the $8.6 billion-asset company missed estimates of analysts polled by Bloomberg by about five cents. A nearly 30% drop in noninterest income, to $12 million, hurt the bottom line.
Tax-equivalent net interest income was $70.7 million, a decrease of less than 1% from the fourth quarter of 2012. The culprit was average yield on earning assets, which fell 27 basis points from the fourth quarter of 2012.
Net interest margin fell 17 basis points, to 3.66%.
Provision for loan losses decreased by 27.1%, to $4.3 million. Net chargeoffs fell 19%, to $4.7 million.
Noninterest expense decreased 3%, to $48 million.
