United Bankshares, Inc. · NASDAQ:UBSI
United Bankshares — Q3 2026 Earnings Presentation
18 slides from United Bankshares's earnings presentation, Oct 22, 2026
Slide 1: Third Quarter 2026 Earnings Review
United Bankshares, Inc. (UBSI) Third Quarter 2026 Earnings Review October 22, 2026
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation and statements made by United Bankshares, Inc. (“UBSI”) and its management contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking sta
Slide 3: 3Q26 Highlights
3Q26 HIGHLIGHTS • Achieved Net Income of $128.7 million and Diluted Earnings Per Share of $0.94 • Generated Return on Average Assets of 1.50%, Return on Average Shareholders' Equity of 9.24%, and Return on Average Tangible Common Equity* of 14.68% • Returned capital through $52 million of common div
Slide 4: Earnings Summary
EARNINGS SUMMARY In thousands, except per share data Three Months Ended 3Q26 2Q26 3Q25 Interest & Fees Income (non-FTE) $ 431,690 $ 418,197 $ 430,957 Interest Expense $ 137,439 $ 132,885 $ 150,842 Net Interest Income (non-FTE) $ 294,251 $ 285,312 $ 280,115 Provision for Credit Losses $ 6,241 $ 4,961
Slide 5: Performance Ratios
PERFORMANCE RATIOS Strong profitability and expense control Return on Average Assets Efficiency Ratio 1.80% 60.00% 1.60% 50.00% 1.40% 1.20% 40.00% 1.00% 30.00% 0.80% 0.60% 20.00% 0.40% 10.00% 0.20% 0.00% 0.00% 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Return on Average Return on Average Shar
Slide 6: Net Interest Income and Margin
NET INTEREST INCOME AND MARGIN Average Yields Net Interest Income & Net Interest Margin (FTE) 7.00% $300 4.50% $275 4.00% 6.00% $250 $225 3.50% 5.00% $200 3.00% $175 2.50% 4.00% $150 $125 2.00% 3.00% $100 1.50% $75 1.00% 2.00% $50 $25 0.50% 1.00% $0 0.00% 3Q25 4Q25 1Q26 2Q26 3Q26 Loan PA Accretion 7
Slide 7: Loan Summary
LOAN SUMMARY (EXCLUDES LOANS HELD FOR SALE) Loans, EOP ($ in millions) 3Q26 % of Total LQ Change $25,473 Owner Occupied CRE $ 2,177 8.5% $ 6 $26,000 $24,875 $25,006 $24,721 $24,531 Non Owner Occupied CRE $ 9,033 35.5% $ 312 $24,000 Commercial $ 3,775 14.8% $ (32) $22,000 Residential Real Estate $ 6,
Slide 8: Loan Portfolio Geographic Details
LOAN PORTFOLIO GEOGRAPHIC DETAILS Diversified portfolio with strong underwriting practices and ongoing monitoring Total Loans Loan Segments Residential Other Total Loans CRE NOO CRE OO C&D C&I Real Estate Consumer Total Loans ($ Billions) 25.5 9.0 2.2 3.4 3.8 6.3 0.8 % of Total Loans 100% 35% 9% 13%
Slide 9: Credit Quality
CREDIT QUALITY End of Period Balances ($ in thousands) 6/30/26 9/30/26 Non-Accrual Loans $99,301 $99,907 90-Day Past Due Loans $11,346 $9,987 Total Non-performing Loans $110,647 $109,894 Other Real Estate Owned $10,212 $11,198 Total Non-performing Assets $120,859 $121,092 Non-performing Loans / Loan
Slide 10: Deposit Summary
DEPOSIT SUMMARY Deposits, EOP ($ in millions) 3Q26 % of Total LQ Change $27,711 Non Interest Bearing $ 6,825 24.6% $ 93 $28,000 $27,061 $27,121 $27,171 $26,884 Interest Bearing Transaction $ 6,783 24.5% $ 344 $26,000 Regular Savings $ 1,258 4.5% $ (15) $24,000 Money Market Accounts $ 7,955 28.7% $ 5
Slide 11: Liquidity Position & Additional Deposit Detail
LIQUIDITY POSITION & ADDITIONAL DEPOSIT DETAIL Deposit Account Details ($ in millions) End of Period Ratios / Values 9/30/26 % of Total Deposits Estimated Uninsured Deposits (less affiliate and collateralized deposits) $8,933 32% Estimated Insured/Collateralized Deposits $18,778 68% Total Deposits $
Slide 12: Capital Ratios and Per Share Data
CAPITAL RATIOS AND PER SHARE DATA End of Period Ratios / Values 6/30/26 9/30/26** Common Equity Tier 1 Ratio 13.3% 12.9% Tier 1 Capital Ratio 13.3% 12.9% Total Risk Based Capital Ratio 15.6% 15.2% Leverage Ratio 11.3% 11.1% Total Shareholders' Equity to Total Assets 16.3% 15.8% *Tangible Common Equi
Slide 13: 2026 Outlook
2026 OUTLOOK Select guidance is being provided for 2026. Our outlook may change if the expectations for these items vary from current expectations. • Balance Sheet: Expect loan and deposit growth rates to be in the mid single digits for 4Q26 (annualized). Loan pipelines remain relatively strong. Exp
Slide 14: Investment Thesis
INVESTMENT THESIS • Premier Mid-Atlantic and Southeast franchise with an attractive mix of high growth MSAs and smaller stable markets with a strong deposit base • Consistently high-performing company with a culture of disciplined risk management and expense control • 52 consecutive years of dividen
Slide 15: Demonstrated History of Successful Acquisitions
DEMONSTRATED HISTORY OF SUCCESSFUL ACQUISITIONS 40.0 Closed on 1/10/25 35.0 $33.7 $29.5 $29.9 $30.0 30.0 $29.3 $26.2 25.0 Total Assets ($B) $19.3 $19.7 20.0 $19.1 $14.5 15.0 $12.3 $12.6 10.0 $8.7 5.0 0.0 2013Y 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y 15 Source: S&P Cap
Slide 16: Appendix
APPENDIX UNITED BANKSHARES, INC.
Slide 17: Reconciliation of Non-GAAP Items
RECONCILIATION OF NON-GAAP ITEMS (dollars in thousands) 3Q25 4Q25 1Q26 2Q26 3Q26 (1) Return on Average Tangible Common Equity (annualized) (A) Net Income (GAAP) $130,748 $128,828 $124,200 $131,377 $128,704 (B) Number of Days in the Quarter 92 92 90 91 92 Average Total Shareholders' Equity (GAAP) $5,
Slide 18: Reconciliation of Non-GAAP Items (Cont.)
RECONCILIATION OF NON-GAAP ITEMS (CONT.) (dollars in thousands) 6/30/2026 9/30/2026 (2) Tangible Common Equity to Tangible Assets Total Assets (GAAP) $ 33,751,832 $ 34,228,531 Less: Total Intangibles (GAAP) (2,047,439) (2,045,601) Tangible Assets (non-GAAP) $ 31,704,393 $ 32,182,930 Total Shareholde