United Bankshares Q4 Results Beat Estimates - Quick Facts

(RTTNews) - United Bankshares, Inc. (UBSI) reported Wednesday that its net income for the fourth quarter of 2019 was $63.3 million or $0.62 per share, compared to earnings of $64.0 million or $0.62 per share in the year-ago period.

On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the fourth quarter declined 4 percent to $141.3 million from $146.7 million in the year-ago period. Tax-equivalent net interest income was $142.1 million, a decrease of 4 percent from the prior-year quarter.

Non-interest income rose 25 percent to $37.2 million from $29.8 million in the prior-year quarter.

Analysts expected revenue of $177.28 million for the quarter.