United Bankshares reported net income of $464.6 million for the full year 2025, representing a 24.5% increase over 2024’s $373.0 million. Diluted earnings per share rose to $3.27, up from $2.75 a year earlier. Key profitability metrics also improved: return on average assets climbed to 1.41% (from 1.26%), return on average equity reached 8.63% (from 7.61%), and return on average tangible equity advanced to 13.95% (from 12.43%). The acquisition of Piedmont Bancorp in January 2025 contributed to higher average balances, while organic loan growth and favorable deposit funding costs further supported earnings growth and capital generation throughout the year.

In Q4 2025, United Bankshares delivered earnings of $128.8 million, or $0.91 per diluted share, beating consensus estimates of $0.86. Net interest income reached a record $287.5 million, up 3% from Q3, driven by a 21 basis‐point reduction in deposit funding costs and continued loan portfolio expansion. The net interest margin expanded to 3.83%, 34 basis points higher than the prior-year quarter. Provision for credit losses remained modest at $6.8 million, in line with historical trends, reflecting stable asset quality and disciplined underwriting. Noninterest expense rose 3% sequentially, largely due to higher operating costs related to the Piedmont integration, while the effective tax rate declined to 19.4%, bolstering after‐tax earnings.

As of December 31, 2025, the bank maintained a CET1 ratio above regulatory requirements and held liquidity reserves exceeding one and a half times average short-term funding needs. Tangible common equity increased by 15% year-over-year, supporting both organic growth initiatives and opportunistic acquisitions. Management reaffirmed its commitment to a balanced capital deployment strategy, targeting mid-single-digit dividend growth while preserving capacity for share repurchases when valuation and market conditions are favorable. These actions underscore the bank’s track record of delivering consistent shareholder distributions without compromising financial strength.