UNITED BANKSHARES INC/WV UBSI Income Statement

United bankshares inc/wv (UBSI)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Interest income
Interest and fees on loans
666,950	636,720	565,537	430,738	387,713	383,662	286,033	301,840	288,213	282,834	310,077	358,240
Interest on federal funds sold and other short-term investments
21,338	19,268	16,035	3,495	1,645	954	613	1,169	1,255	1,267	309	714
Interest and dividends on securities:
Taxable
70,789	56,273	36,715	32,357	30,744	30,426	16,646	17,364	23,069	34,564	46,834	59,652
Tax-exempt
3,485	5,454	5,519	3,751	3,528	3,500	2,862	3,524	3,985	4,717	8,625	11,305
Total interest income
762,562	717,715	623,806	470,341	423,630	418,542	306,154	323,897	316,522	323,382	365,845	429,911
Interest expense
Interest on deposits
135,649	91,507	49,726	29,125	28,023	27,461	26,531	32,248	39,075	55,663	83,463	124,035
Interest on short-term borrowings
2,347	2,245	1,579	1,584	834	1,134	895	303	166	167	645	14,828
Interest on long-term borrowings
46,644	35,318	23,504	14,301	10,649	14,239	8,887	13,639	16,553	29,366	36,266	38,256
Total interest expense
184,640	129,070	74,809	45,010	39,506	42,834	36,313	46,190	55,794	85,196	120,374	177,119
Net interest income
577,922	588,645	548,997	425,331	384,124	375,708	269,841	277,707	260,728	238,186	245,471	252,792
Provision for credit losses
21,313	22,013	28,406	24,509	22,574	21,937	19,267	17,862	17,141	13,773	46,065	25,155
Net interest income after provision for credit losses
556,609	566,632	520,591	400,822	361,550	353,771	250,574	259,845	243,587	224,413	199,406	227,637
Other income
Income from bank-owned life insurance
7,339	5,045	5,110	5,794	5,557	5,300	5,788	5,039	5,286	4,673	3,416	4,093
Net gain on the sale of bank premises
0	2,763	0	0	-	8,976	0	0	-	-	-	-
Income from mortgage banking activities
-	-	-	-	2,507	1,876	2,571	2,471	952	-	-	-
Total other-than-temporary impairment losses
-	-	-	-	113	-1,935	860	4,955	-	40,756	34,206	10,489
Portion of loss recognized in other comprehensive income
-	-	-	-	66	-8,413	-6,472	2,421	544	30,941	19,186	0
Net other-than-temporary impairment losses
-	-	-	-	47	6,478	7,332	7,376	20,958	-	-	-
Net other-than-temporary impairment losses
-	-	-	-	-	-	-	-	20,414	9,815	15,020	10,489
Net gains on sales/calls of investment securities
-	-	-	-	202	3,366	1,523	446	1,576	2,006	315	1,071
Net investment securities gains (losses)
175	-2,618	5,584	280	155	-3,112	-5,809	-6,930	-18,838	-7,809	-14,705	-9,418
Income from mortgage banking
-	-	-	-	-	-	-	-	-	662	608	385
Other income
1,327	1,767	2,039	1,339	1,433	1,153	1,426	1,360	3,563	5,116	5,236	8,725
Total other income
150,484	128,712	131,645	70,032	73,626	80,962	66,506	64,842	50,837	62,203	53,970	67,303
Other expense
Employee compensation
173,962	164,468	166,393	95,655	88,123	90,823	68,074	71,402	64,611	60,564	58,901	61,347
Employee benefits
35,745	36,172	34,997	26,591	27,086	20,457	22,970	21,178	17,358	16,749	19,192	13,680
Net occupancy expense
34,850	36,462	39,067	27,529	24,301	25,796	19,818	20,428	18,596	17,246	17,018	16,682
Other real estate owned (OREO) expense
5,336	3,444	6,003	5,844	3,613	7,740	6,441	8,556	7,008	11,131	5,487	2,484
Equipment expense
14,210	13,846	10,528	8,622	9,034	9,565	7,748	8,307	7,976	6,014	6,204	6,436
Data processing expense
22,232	23,800	21,019	15,280	14,867	14,455	11,394	12,532	11,637	10,820	10,880	10,016
Bankcard processing expense
1,877	1,971	1,809	1,742	1,505	1,391	1,332	1,315	1,051	3,284	3,198	4,822
FDIC insurance expense
8,070	11,464	7,051	8,548	8,367	7,565	6,188	6,064	8,468	9,684	9,177	1,147
FHLB prepayment penalties
5,105	0	0	-	-	1,971	0	0	-	-	-	-
Other expense
81,267	76,552	80,542	58,385	54,791	60,084	48,071	53,424	47,343	46,720	45,070	54,459
Total other expense
382,654	368,179	367,409	248,196	231,687	239,847	192,036	203,206	184,048	182,212	175,127	171,073
Income before income taxes
324,439	327,165	284,827	222,658	203,489	194,886	125,044	121,481	110,376	104,404	78,249	123,867
Income taxes
64,340	70,823	134,246	75,575	65,530	64,998	39,416	38,874	34,766	32,457	10,951	36,913
Net income
260,099	256,342	150,581	147,083	137,959	129,888	85,628	82,607	75,610	71,947	67,298	86,954
Earnings per common share:
Basic
2.55	2.46	1.54	2.00	1.99	1.93	1.70	1.64	1.62	1.65	1.55	2.01
Diluted
2.55	2.45	1.54	1.99	1.98	1.92	1.70	1.64	1.61	1.65	1.55	2.00
Dividends per common share
1.37	1.36	1.33	1.32	1.29	1.28	1.25	1.24	1.21	1.20	1.17	1.16
Average outstanding shares:
Basic
101,585	104,015	97,502	73,531	69,334	67,404	50,353	50,265	46,803	43,547	43,410	43,286
Diluted
101,852	104,298	97,890	73,893	69,625	67,648	50,426	50,298	46,837	43,625	43,456	43,434
Fees From Trust Services [Member]
Revenue from contract
13,873	12,930	11,801	12,025	19,085	18,141	16,447	15,845	13,343	13,637	13,065	16,582
Fees from Brokerage Services [Member]
Revenue from contract
10,136	9,347	7,730	7,012	-	-	-	-	-	-	-	-
Fees from Deposit Services [Member]
Revenue from contract
33,768	33,973	33,622	32,858	37,962	42,372	40,245	41,832	42,110	39,220	40,289	39,189
Bankcard Fees and Merchant Discounts [Member]
Revenue from contract
4,674	5,168	4,795	5,215	4,786	4,207	3,591	2,996	2,572	4,786	4,155	5,815
Other Service Charges, Commissions, and Fees [Member]
Revenue from contract
2,241	2,228	2,057	2,059	2,141	2,049	2,247	2,229	1,849	1,918	1,906	1,932
Mortgage Banking [Member]
Revenue from contract
76,951	58,109	58,907	3,450	-	-	-	-	-	-	-	-