UNITED BANKSHARES INC/WV UBSI Income Statement

United bankshares inc/wv (UBSI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Interest income
Interest and fees on loans
158,854	161,800	165,149	175,130	164,871	164,269	164,229	159,294	148,928	159,877	155,819	140,899	108,942	115,802	112,273	103,329	99,334	98,529	97,331	96,704	95,149	101,999	97,874	96,175	87,614	72,124	71,264	70,822	71,823	74,988	75,524	75,670	75,658	79,401	77,632	65,322	65,858	68,254	70,121	71,682	72,777	77,484	77,902
Interest on federal funds sold and other short-term investments
3,965	3,860	6,236	5,405	5,837	5,401	5,485	3,465	4,917	4,690	4,874	3,785	2,686	1,124	1,107	642	622	503	461	350	331	298	241	248	167	167	157	160	129	266	145	415	343	313	366	284	292	357	347	267	296	60	9
Interest and dividends on securities:
Taxable
16,969	17,510	18,168	17,748	17,363	16,594	13,994	13,810	11,875	10,489	9,406	8,809	8,011	7,629	8,764	8,257	7,707	7,354	7,619	7,582	8,189	8,557	7,873	7,467	6,529	4,673	4,585	3,776	3,612	3,523	4,843	4,134	4,864	4,863	5,686	5,858	6,662	7,501	8,303	9,047	9,713	10,696	12,307
Tax-exempt
694	699	798	962	1,026	1,236	1,322	1,431	1,465	1,462	1,484	1,454	1,119	1,066	993	859	833	854	898	896	880	868	869	909	854	675	699	727	761	891	824	886	923	952	1,017	971	1,045	1,096	1,118	1,193	1,310	2,187	2,314
Total interest income
180,482	183,869	190,351	199,245	189,097	187,500	185,030	178,000	167,185	176,518	171,583	154,947	120,758	125,621	123,137	113,087	108,496	107,240	106,309	105,532	104,549	111,722	106,857	104,799	95,164	77,639	76,705	75,485	76,325	79,668	81,336	81,105	81,788	85,529	84,701	72,435	73,857	77,208	79,889	82,189	84,096	90,427	92,532
Interest expense
Interest on deposits
27,477	31,188	36,368	35,455	32,638	30,406	26,368	19,076	15,657	14,445	14,227	12,586	8,468	7,847	7,723	6,670	6,885	7,197	7,145	6,796	6,885	6,968	7,077	7,015	6,401	6,128	6,569	6,857	6,977	7,472	7,844	8,315	8,617	9,157	9,667	9,740	10,511	11,988	13,255	14,478	15,942	19,843	20,924
Interest on short-term borrowings
458	509	539	608	691	742	618	464	421	430	430	415	304	452	553	365	214	181	213	209	231	223	234	324	353	201	276	218	200	119	59	66	59	60	53	26	27	33	57	44	33	46	202
Interest on long-term borrowings
11,029	10,889	11,526	12,629	11,600	9,647	9,269	9,338	7,064	6,787	6,650	5,701	4,366	4,069	3,792	3,327	3,113	2,707	2,633	2,625	2,684	3,975	3,628	3,528	3,108	2,124	2,230	2,207	2,326	2,405	3,419	3,669	4,146	4,320	4,229	4,048	3,956	6,626	7,595	7,503	7,642	9,215	9,197
Total interest expense
38,964	42,586	48,433	48,692	44,929	40,795	36,255	28,878	23,142	21,662	21,307	18,702	13,138	12,368	12,068	10,362	10,212	10,085	9,991	9,630	9,800	11,166	10,939	10,867	9,862	8,453	9,075	9,282	9,503	9,996	11,322	12,050	12,822	13,537	13,949	13,814	14,494	18,647	20,907	22,025	23,617	29,104	30,323
Net interest income
141,518	141,283	141,918	150,553	144,168	146,705	148,775	149,122	144,043	154,856	150,276	136,245	107,620	113,253	111,069	102,725	98,284	97,155	96,318	95,902	94,749	100,556	95,918	93,932	85,302	69,186	67,630	66,203	66,822	69,672	70,014	69,055	68,966	71,992	70,752	58,621	59,363	58,561	58,982	60,164	60,479	61,323	62,209
Provision for credit losses
27,119	5,867	5,033	5,417	4,996	5,823	4,808	6,204	5,178	6,977	7,279	8,251	5,899	5,819	6,988	7,667	4,035	6,322	5,182	5,716	5,354	6,309	4,748	6,201	4,679	4,343	4,777	4,960	5,187	5,947	4,346	3,436	4,133	4,268	3,637	4,800	4,436	-5,618	6,123	6,400	6,868	8,067	23,251
Net interest income after provision for credit losses
114,399	135,416	136,885	145,136	139,172	140,882	143,967	142,918	138,865	147,879	142,997	127,994	101,721	107,434	104,081	95,058	94,249	90,833	91,136	90,186	89,395	94,247	91,170	87,731	80,623	64,843	62,853	61,243	61,635	63,725	65,668	65,619	64,833	67,724	67,115	53,821	54,927	64,179	52,859	53,764	53,611	53,256	38,958
Other income
Fees from brokerage services
-	-	-	-	-	-	-	-	-	-	2,080	1,882	1,856	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from bank-owned life insurance
2,388	2,906	1,280	1,326	1,827	1,269	1,251	1,271	1,254	1,232	1,403	1,258	1,217	881	2,541	1,192	1,180	1,792	1,234	1,258	1,273	1,279	1,325	1,445	1,251	1,076	1,138	1,185	2,389	1,248	1,247	1,255	1,289	1,339	1,544	1,228	1,175	1,178	1,282	1,185	1,028	1,051	1,340
Net gain on the sale of bank premises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	8,976	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from mortgage banking activities
-	-	-	-	-	-	-	-	-	-	-	-	675	-	982	789	728	634	665	663	545	405	774	438	259	262	605	739	965	-	819	483	-	-	-	-	-	-	-	-	-	-	-
Total other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-339	0	13	0	0	100	-1,450	561	0	-1,046	-	0	137	-	-36	1,606	2,639	746	-	3,453	870	3,016	16,409	10,364	10,673	3,310	15,903	1,137
Portion of loss recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-372	0	0	0	0	66	-6,366	-4,153	421	1,685	-5,216	0	0	-1,256	2,804	-649	897	-631	7,333	-4,469	-3,226	906	11,040	8,500	9,577	1,824	4,943	-
Net other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	33	0	13	0	0	34	704	4,714	421	639	6,773	0	137	422	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	834	-	2,255	1,742	1,377	6,286	7,922	4,096	2,110	5,369	1,864	1,096	1,486	10,960	1,137
Net gains on sales/calls of investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	246	4	42	111	3	46	1,232	1,309	1	824	934	101	348	140	262	67	199	-82	-50	445	630	551	-30	132	796	1,108	82	-158
Net investment securities gains (losses)
196	109	116	109	-159	-1,926	-152	-55	-485	430	467	747	3,940	62	1	213	4	29	111	3	12	528	-3,405	-420	185	-5,427	101	211	-694	-1,740	-2,188	-1,543	-1,459	-6,336	-7,477	-3,466	-1,559	-5,399	-1,732	-300	-378	-10,878	-1,295
Income from mortgage banking
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	318	-	205	131	234	303	118	129	112	172	167
Other income
724	336	325	310	356	361	419	544	443	413	311	954	361	289	249	430	371	454	236	339	404	252	251	259	391	-853	542	861	876	-632	686	648	658	841	1,272	599	851	1,669	1,108	1,424	915	896	2,293
Total other income
36,806	37,242	42,224	39,795	31,223	29,827	31,686	36,007	31,192	32,764	38,229	40,506	20,146	16,652	19,021	17,967	16,392	18,125	17,812	19,498	18,191	19,415	16,166	18,994	26,387	10,724	18,335	19,099	18,348	15,295	16,634	16,587	16,326	11,874	10,978	13,334	14,651	13,356	15,690	17,584	15,573	6,523	17,850
Other expense
Employee compensation
44,541	44,399	46,313	44,301	38,949	39,200	41,312	43,120	40,836	41,448	44,882	56,030	24,033	26,532	24,213	22,631	22,279	24,431	22,700	20,724	20,268	22,097	22,173	21,546	25,007	17,244	17,269	16,957	16,604	18,272	17,258	17,965	17,907	17,756	16,970	15,015	14,870	16,202	14,613	14,848	14,901	14,735	14,751
Employee benefits
10,786	9,121	8,615	8,578	9,431	8,658	8,645	9,298	9,571	9,330	9,004	9,760	6,903	5,211	7,483	7,294	6,603	7,005	6,690	6,588	6,803	4,890	4,753	5,190	5,624	5,460	5,842	5,675	5,993	4,892	5,271	5,823	5,192	4,488	4,361	4,131	4,378	3,795	4,128	4,332	4,494	4,818	4,734
Net occupancy expense
9,062	8,734	8,698	8,667	8,751	8,686	9,273	9,076	9,427	9,006	9,364	13,913	6,784	6,584	6,919	7,773	6,253	5,576	5,654	6,542	6,529	6,447	6,400	6,514	6,435	4,875	4,931	4,821	5,191	5,005	5,060	5,321	5,042	5,018	5,051	4,140	4,387	4,114	4,187	4,274	4,671	4,124	4,154
Other real estate owned (OREO) expense
906	1,450	1,837	633	1,416	1,021	921	556	946	1,352	2,713	524	1,414	1,190	1,342	2,663	649	610	769	1,121	1,113	2,772	1,818	1,037	2,113	1,306	1,535	2,330	1,270	1,908	2,160	2,160	2,328	1,879	2,129	1,233	1,767	4,862	2,001	2,648	1,620	1,576	869
Equipment expense
3,845	3,522	3,698	3,675	3,315	3,518	3,892	3,279	3,157	3,035	3,057	2,471	1,965	2,460	2,097	2,058	2,007	2,289	2,601	2,020	2,124	3,047	2,376	2,241	1,901	2,378	1,960	1,711	1,699	1,907	2,051	2,413	1,936	2,635	2,230	1,459	1,652	1,679	1,517	1,443	1,375	1,544	1,386
Data processing expense
5,506	5,727	5,776	5,567	5,162	6,065	6,068	5,817	5,850	6,048	5,597	5,331	4,043	4,276	3,857	3,596	3,551	3,675	3,582	3,867	3,743	3,844	3,785	3,589	3,237	2,970	2,880	2,813	2,731	3,009	3,675	2,639	3,209	3,019	2,941	2,752	2,925	2,659	2,594	2,749	2,818	2,761	2,639
Bankcard processing expense
477	475	474	448	480	540	485	480	466	453	449	442	465	459	480	435	368	413	390	353	349	369	350	348	324	344	331	331	326	356	342	318	299	302	274	182	293	948	765	774	797	793	840
FDIC insurance expense
2,400	1,005	465	3,300	3,300	3,244	3,530	2,842	1,848	1,989	1,540	1,771	1,751	2,207	2,086	2,135	2,120	2,114	2,098	2,061	2,094	2,006	1,981	2,071	1,507	1,526	1,539	1,564	1,559	1,525	1,489	1,495	1,555	1,496	2,308	2,327	2,337	2,380	2,456	2,457	2,391	2,004	4,284
FHLB prepayment penalties
-	-	0	5,105	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense
23,610	22,467	20,258	19,921	18,621	20,070	19,189	18,942	18,351	23,117	20,046	21,895	15,484	13,589	14,300	16,270	14,226	12,505	13,200	14,454	14,632	16,581	14,058	14,567	14,878	10,552	12,298	12,345	12,876	10,949	16,563	13,118	12,794	13,436	12,609	10,438	10,860	12,736	11,637	11,663	10,684	11,319	12,041
Total other expense
101,133	96,900	96,134	100,195	89,425	91,002	93,315	93,410	90,452	95,778	96,652	112,137	62,842	62,508	62,777	64,855	58,056	58,618	57,684	57,730	57,655	64,024	57,694	57,103	61,026	46,655	48,585	48,547	48,249	47,823	53,869	51,252	50,262	50,029	48,873	41,677	43,469	49,375	43,898	45,188	43,751	43,674	45,698
Income before income taxes
50,072	75,758	82,975	84,736	80,970	79,707	82,338	85,515	79,605	84,865	84,574	56,363	59,025	61,578	60,325	48,170	52,585	50,340	51,264	51,954	49,931	49,638	49,642	49,622	45,984	28,912	32,603	31,795	31,734	31,197	28,433	30,954	30,897	29,569	29,220	25,478	26,109	28,160	24,651	26,160	25,433	16,105	11,110
Income taxes
9,889	12,473	17,010	17,529	17,328	15,757	17,926	19,241	17,899	66,890	27,836	19,304	20,216	22,472	18,846	16,378	17,879	16,864	16,217	17,145	15,304	16,381	16,382	16,375	15,860	9,252	10,433	9,576	10,155	9,983	9,099	9,905	9,887	9,312	9,204	8,026	8,224	8,870	7,335	8,241	8,011	4,040	2,954
Net income
40,183	63,285	65,965	67,207	63,642	63,950	64,412	66,274	61,706	17,975	56,738	37,059	38,809	39,106	41,479	31,792	34,706	33,476	35,047	34,809	34,627	33,257	33,260	33,247	30,124	19,660	22,170	22,219	21,579	21,214	19,334	21,049	21,010	20,257	20,016	17,452	17,885	19,290	17,316	17,919	17,422	12,065	8,156
Earnings per common share:
Basic
0.40	0.62	0.65	0.66	0.62	0.62	0.62	0.63	0.59	0.15	0.54	0.37	0.48	0.52	0.54	0.44	0.50	0.49	0.50	0.50	0.50	0.49	0.48	0.48	0.48	0.39	0.44	0.44	0.43	0.42	0.38	0.42	0.42	0.41	0.40	0.40	0.41	0.44	0.40	0.41	0.40	0.28	0.19
Diluted
0.40	0.62	0.65	0.66	0.62	0.61	0.62	0.63	0.59	0.15	0.54	0.37	0.48	0.51	0.54	0.44	0.50	0.48	0.50	0.50	0.50	0.48	0.48	0.48	0.48	0.39	0.44	0.44	0.43	0.42	0.38	0.42	0.42	0.40	0.40	0.40	0.41	0.44	0.40	0.41	0.40	0.28	0.19
Dividends per common share
-	-	-	-	-	-	-	-	-	0.34	0.33	0.33	0.33	0.33	0.33	0.33	0.33	0.33	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.30	0.30	0.30	0.30	0.30	0.30	0.30	0.29	0.29
Average outstanding shares:
Basic
101,295	101,241	101,432	101,773	101,894	102,903	103,617	104,682	104,859	105,150	104,760	99,197	80,902	76,928	76,218	71,483	69,497	69,434	69,391	69,305	69,207	69,181	69,044	68,956	62,434	50,387	50,378	50,345	50,301	50,276	50,276	50,274	50,235	50,310	49,628	43,645	43,629	43,609	43,588	43,539	43,455	43,410	43,396
Diluted
101,399	101,488	101,711	102,047	102,162	103,145	103,933	104,952	105,162	105,565	105,068	99,620	81,306	77,401	76,647	71,809	69,714	69,748	69,689	69,587	69,476	69,464	69,269	69,154	62,707	50,497	50,472	50,402	50,331	50,288	50,295	50,308	50,300	50,336	49,636	43,676	43,700	43,679	43,645	43,640	43,534	43,455	43,463
Fees From Trust Services [Member]
Revenue from contract
3,483	3,597	3,574	3,438	3,264	3,385	3,350	3,104	3,091	-	-	-	3,030	-2,527	4,891	4,792	4,869	4,525	4,737	4,931	4,892	4,433	4,474	4,641	4,593	4,241	4,006	4,370	3,830	3,678	4,170	4,013	3,984	3,316	3,280	3,437	3,310	3,689	3,215	3,461	3,272	3,142	3,506
Fees from Brokerage Services [Member]
Revenue from contract
2,916	2,468	2,378	2,766	2,524	2,383	2,787	1,953	2,224	-	2,972	2,863	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees from Deposit Services [Member]
Revenue from contract
7,957	8,549	8,702	8,464	8,053	8,650	8,673	8,420	8,230	8,644	8,744	8,528	7,706	8,189	8,306	8,390	7,973	8,696	9,059	10,434	9,773	10,777	11,134	10,902	9,559	10,072	10,341	10,208	9,624	10,606	10,521	10,393	10,312	11,676	10,462	10,341	9,631	9,781	10,098	10,117	9,224	10,566	10,255
Bankcard Fees and Merchant Discounts [Member]
Revenue from contract
993	1,154	1,262	1,102	1,156	784	1,549	1,479	1,356	1,363	1,332	1,216	884	1,461	1,551	1,365	838	1,498	1,243	1,231	814	1,233	1,101	1,127	746	892	1,003	899	797	745	866	738	647	97	1,237	683	555	1,573	1,093	1,078	1,042	1,104	1,058
Other Service Charges, Commissions, and Fees [Member]
Revenue from contract
518	576	568	576	521	588	532	599	509	524	535	521	477	334	500	796	429	497	527	639	478	508	512	602	427	461	599	626	561	539	513	600	577	559	455	381	454	562	508	490	358	470	526
Mortgage Banking [Member]
Revenue from contract
17,631	17,547	24,019	21,704	13,681	11,570	13,277	18,692	14,570	-	20,385	22,537	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-