United Bankshares reports increase for quarter
United Bankshares Inc. reported fourth-quarter 2012 earnings of $21.2 million or 42 cents a share, a 5 percent increase from the same period a year ago.
For all of 2012, United said it earned $82.6 million or $1.64 a share, up 9 percent from 2011. United bought Centra Financial Holdings Inc. in 2011, so the two years' results are not directly comparable.
Richard Adams, United's chairman and chief executive officer, said 2012 was another successful year for the company, noting that earnings rose and the dividend to shareholders was increased for the 39th consecutive year. "Only one other major banking company in the USA has achieved such a dividend record," he said.
United Bankshares is the corporate parent of United Bank. The company is headquartered in Charleston and Washington, D.C. United has $8.4 billion in assets and 115 full-service offices in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.