United Bankshares reported record net income of $464.6 million for the year 2025, or $3.27 per diluted share, up from $373.0 million, or $2.75 per share, in 2024. Return on average assets rose to 1.41% from 1.26%, while return on average equity climbed to 8.63% from 7.61%. Non-GAAP return on average tangible equity improved to 13.95% from 12.43%. Management credited strong organic loan growth and disciplined expense management for the year-over-year improvement.

In Q4 2025, United Bankshares earned $128.8 million, or $0.91 per diluted share, compared with $94.4 million, or $0.69 per share, in Q4 2024. Net interest income reached a record $287.5 million, a 24% increase from a year earlier, driven by a 12% rise in average earning assets and a 39 basis-point decline in deposit funding costs. The net interest margin widened 34 basis points to 3.83%, supported by lower average deposit rates and $8.5 million of loan accretion income from the prior year’s Piedmont Bancorp acquisition.

The January 2025 acquisition of Piedmont Bancorp boosted average loans and leases by $3.0 billion in Q4, contributing to a 12% increase in average earning assets year-over-year. Average interest-bearing deposits grew 14% to fund this loan growth, while the cost of those deposits fell 39 basis points. The acquisition added $8.5 million in loan accretion income in Q4 versus $2.0 million in Q4 2024, enhancing net interest income and supporting continued balance sheet expansion.