EXHIBIT 99.2
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Statements of Income
Three Months Ended | ||||||||||||||||||||
December | December | September | June | March | ||||||||||||||||
2005 | 2004 | 2005 | 2005 | 2005 | ||||||||||||||||
Interest & Loan Fees Income | $ | 94,333 | $ | 77,446 | $ | 89,490 | $ | 82,179 | $ | 79,276 | ||||||||||
Tax Equivalent Adjustment | 3,533 | 2,717 | 3,325 | 2,968 | 2,765 | |||||||||||||||
Interest & Fees Income (FTE) | 97,866 | 80,163 | 92,815 | 85,147 | 82,041 | |||||||||||||||
Interest Expense | 36,612 | 24,175 | 32,832 | 28,721 | 26,286 | |||||||||||||||
Net Interest Income (FTE) | 61,254 | 55,988 | 59,983 | 56,426 | 55,755 | |||||||||||||||
Provision for Credit Losses | 2,058 | 1,328 | 1,945 | 504 | 1,111 | |||||||||||||||
Non-Interest Income: | ||||||||||||||||||||
Investment Securities Transactions | (194 | ) | 15 | (93 | ) | 58 | 924 | |||||||||||||
Fees from Trust & Brokerage Services | 2,771 | 2,448 | 2,813 | 2,741 | 2,758 | |||||||||||||||
Fees from Deposit Services | 7,040 | 7,202 | 7,216 | 7,002 | 6,491 | |||||||||||||||
Other Charges, Commissions, and Fees | 1,598 | 1,345 | 1,569 | 1,515 | 1,331 | |||||||||||||||
Mortgage Banking Income | 365 | 171 | 337 | 227 | 126 | |||||||||||||||
Other Non-Interest Revenue | 1,731 | 1,922 | 1,194 | 1,816 | 1,289 | |||||||||||||||
Total Non-Interest Income | 13,311 | 13,103 | 13,036 | 13,359 | 12,919 | |||||||||||||||
Non-Interest Expense: | ||||||||||||||||||||
Salaries and Employees Benefits | 15,005 | 12,912 | 15,205 | 14,921 | 14,066 | |||||||||||||||
Net Occupancy | 2,942 | 3,279 | 3,113 | 3,051 | 3,095 | |||||||||||||||
Other Expenses | 12,123 | 11,180 | 11,341 | 11,721 | 10,698 | |||||||||||||||
Prepayment Penalties on FHLB Advances | 406 | 2,969 | — | — | — | |||||||||||||||
Amortization of Intangibles | 535 | 635 | 560 | 586 | 611 | |||||||||||||||
OREO Expense | 169 | 579 | 155 | 150 | 120 | |||||||||||||||
FDIC Expense | 146 | 158 | 142 | 148 | 151 | |||||||||||||||
Total Non-Interest Expense | 31,326 | 31,712 | 30,516 | 30,577 | 28,741 | |||||||||||||||
Income Before Income Taxes (FTE) | 41,181 | 36,051 | 40,558 | 38,704 | 38,822 | |||||||||||||||
Tax Equivalent Adjustment | 3,533 | 2,717 | 3,325 | 2,968 | 2,765 | |||||||||||||||
Income Before Income Taxes | 37,648 | 33,334 | 37,233 | 35,736 | 36,057 | |||||||||||||||
Income Taxes | 11,962 | 7,834 | 11,784 | 11,222 | 11,297 | |||||||||||||||
Net Income | $ | 25,686 | $ | 25,500 | $ | 25,449 | $ | 24,514 | $ | 24,760 | ||||||||||
MEMO: Effective Tax Rate | 31.77 | % | 23.50 | % | 31.65 | % | 31.40 | % | 31.33 | % |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Statements of Income
Year Ended | ||||||||||||||||
December | December | December | December | |||||||||||||
2005 | 2004 | 2003 | 2002 | |||||||||||||
Interest & Loan Fees Income | $ | 345,278 | $ | 293,350 | $ | 272,520 | $ | 323,483 | ||||||||
Tax Equivalent Adjustment | 12,590 | 11,186 | 10,057 | 10,975 | ||||||||||||
Interest & Fees Income (FTE) | 357,868 | 304,536 | 282,577 | 334,458 | ||||||||||||
Interest Expense | 124,451 | 88,914 | 95,504 | 129,175 | ||||||||||||
Net Interest Income (FTE) | 233,417 | 215,622 | 187,073 | 205,283 | ||||||||||||
Credit Loss Provision | 5,618 | 4,520 | 7,475 | 8,937 | ||||||||||||
Non-Interest Income: | ||||||||||||||||
Investment Securities Transactions | 695 | 1,110 | 1,830 | (6,266 | ) | |||||||||||
Fees from Trust & Brokerage Services | 11,083 | 10,518 | 9,387 | 8,892 | ||||||||||||
Fees from Deposit Services | 27,749 | 29,967 | 28,924 | 26,498 | ||||||||||||
Other Charges, Commissions, and Fees | 6,013 | 4,986 | 4,323 | 4,234 | ||||||||||||
Mortgage Banking Income | 1,055 | 729 | 2,570 | 1,727 | ||||||||||||
Other Non-Interest Revenue | 6,030 | 6,921 | 5,050 | 2,702 | ||||||||||||
Total Non-Interest Income | 52,625 | 54,231 | 52,084 | 37,787 | ||||||||||||
Non-Interest Expense: | ||||||||||||||||
Salaries and employee benefits | 59,197 | 56,526 | 54,843 | 52,501 | ||||||||||||
Net Occupancy | 12,201 | 12,551 | 11,270 | 11,766 | ||||||||||||
Other Expenses | 45,883 | 44,696 | 43,113 | 42,309 | ||||||||||||
Prepayment Penalties on FHLB Advances | 406 | 18,975 | 16,691 | — | ||||||||||||
Amortization of Intangibles | 2,292 | 2,726 | 2,070 | 1,645 | ||||||||||||
OREO Expense | 594 | 956 | 680 | 828 | ||||||||||||
FDIC Expense | 587 | 631 | 871 | 679 | ||||||||||||
Total Non-Interest Expense | 121,160 | 137,061 | 129,538 | 109,728 | ||||||||||||
Income from Continuing Operations Before Income Taxes (FTE) | 159,264 | 128,272 | 102,144 | 124,405 | ||||||||||||
Tax Equivalent Adjustment | 12,590 | 11,186 | 10,057 | 10,975 | ||||||||||||
Income from Continuing Operations Before Income Taxes | 146,674 | 117,086 | 92,087 | 113,430 | ||||||||||||
Taxes | 46,265 | 33,771 | 28,010 | 35,211 | ||||||||||||
Income from Continuing Operations | 100,409 | 83,315 | 64,077 | 78,219 | ||||||||||||
Gain on Sale of Discontinued Operations | — | 17,000 | — | — | ||||||||||||
Other Operating Income | — | 3,780 | 20,433 | 14,903 | ||||||||||||
Income from Discontinued Operations Before Income Taxes | — | 20,780 | 20,433 | 14,903 | ||||||||||||
Taxes | — | 6,333 | 5,745 | 4,189 | ||||||||||||
Income from Discontinued Operations | — | 14,447 | 14,688 | 10,714 | ||||||||||||
Net Income | $ | 100,409 | $ | 97,762 | $ | 78,765 | $ | 88,933 | ||||||||
MEMO: Effective Tax Rate | 31.54 | % | 29.09 | % | 30.00 | % | 30.70 | % |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Discontinued Operations Statements of Income
Year Ended | ||||||||||||||||
December | December | December | December | |||||||||||||
2005 | 2004 | 2003 | 2002 | |||||||||||||
Interest & Loan Fees Income | — | $ | 6,850 | $ | 24,988 | $ | 15,995 | |||||||||
Interest Expense | — | 1,543 | 8,647 | 3,382 | ||||||||||||
Net Interest Income | — | 5,307 | 16,341 | 12,613 | ||||||||||||
Non-Interest Income: | ||||||||||||||||
Service Charges, Commissions, and Fees | — | 565 | 1,896 | 1,277 | ||||||||||||
Income from Mortgage Banking Operations | — | 15,271 | 49,336 | 34,415 | ||||||||||||
Gain on Sale of Discontinued Operations | — | 17,000 | — | — | ||||||||||||
Total Non-Interest Income | — | 32,836 | 51,232 | 35,692 | ||||||||||||
Non-Interest Expense: | ||||||||||||||||
Salaries and Employee Benefits | — | 13,574 | 38,456 | 27,498 | ||||||||||||
Net Occupancy | — | 985 | 1,822 | 1,279 | ||||||||||||
Other Expenses | — | 2,804 | 6,862 | 4,625 | ||||||||||||
Total Non-Interest Expense | — | 17,363 | 47,140 | 33,402 | ||||||||||||
Income from Discontinued Operations Before Income Taxes | — | 20,780 | 20,433 | 14,903 | ||||||||||||
Taxes | — | 6,333 | 5,745 | 4,189 | ||||||||||||
Income from Discontinued Operations | — | $ | 14,447 | $ | 14,688 | $ | 10,714 | |||||||||
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Balance Sheets
December 31 | December 31 | |||||||||||||||||||
2005 | 2004 | December 31 | December 31 | December 31 | ||||||||||||||||
Q-T-D Average | Q-T-D Average | 2005 | 2004 | 2003 | ||||||||||||||||
Cash & Cash Equivalents | $ | 177,591 | $ | 159,505 | $ | 207,962 | $ | 153,465 | $ | 249,118 | ||||||||||
Securities Available for Sale | 1,241,066 | 1,282,251 | 1,274,621 | 1,277,160 | 1,266,635 | |||||||||||||||
Held to Maturity Securities | 229,723 | 233,407 | 227,345 | 233,282 | 243,975 | |||||||||||||||
Total Securities | 1,470,789 | 1,515,658 | 1,501,966 | 1,510,442 | 1,510,610 | |||||||||||||||
Total Cash and Securities | 1,648,380 | 1,675,163 | 1,709,928 | 1,663,907 | 1,759,728 | |||||||||||||||
Loans held for sale | 3,663 | 2,185 | 3,324 | 3,981 | 1,687 | |||||||||||||||
Commercial Loans | 2,558,875 | 2,321,064 | 2,599,781 | 2,440,154 | 2,180,482 | |||||||||||||||
Mortgage Loans | 1,654,199 | 1,569,534 | 1,668,782 | 1,579,792 | 1,381,040 | |||||||||||||||
Consumer Loans | 393,262 | 414,624 | 387,959 | 404,756 | 399,115 | |||||||||||||||
Gross Loans | 4,606,336 | 4,305,222 | 4,656,522 | 4,424,702 | 3,960,637 | |||||||||||||||
Unearned Income | (6,742 | ) | (6,197 | ) | (6,693 | ) | (6,426 | ) | (5,403 | ) | ||||||||||
Loans, net of unearned income | 4,599,594 | 4,299,025 | 4,649,829 | 4,418,276 | 3,955,234 | |||||||||||||||
Allowance for Loan Losses | (43,750 | ) | (45,240 | ) | (44,138 | ) | (43,365 | ) | (41,578 | ) | ||||||||||
Goodwill | 167,487 | 166,964 | 167,487 | 166,926 | 169,655 | |||||||||||||||
Other Intangibles | 4,816 | 7,167 | 4,527 | 6,819 | 9,546 | |||||||||||||||
Total Intangibles | 172,303 | 174,131 | 172,014 | 173,745 | 179,201 | |||||||||||||||
Real Estate Owned | 2,718 | 4,073 | 2,941 | 3,692 | 3,203 | |||||||||||||||
Other Assets | 224,710 | 213,576 | 234,594 | 215,735 | 195,915 | |||||||||||||||
Assets Related to Discontinued Operations | — | — | — | — | 334,340 | |||||||||||||||
Total Assets | $ | 6,607,618 | $ | 6,322,913 | $ | 6,728,492 | $ | 6,435,971 | $ | 6,387,730 | ||||||||||
MEMO: Earning Assets | $ | 6,058,609 | $ | 5,789,003 | $ | 6,129,969 | $ | 5,910,493 | $ | 5,463,665 | ||||||||||
Interest-bearing Deposits | $ | 3,649,884 | $ | 3,433,934 | $ | 3,657,778 | $ | 3,412,224 | $ | 3,244,860 | ||||||||||
Noninterest-bearing Deposits | 947,730 | 904,306 | 959,674 | 885,339 | 893,627 | |||||||||||||||
Total Deposits | 4,597,614 | 4,338,240 | 4,617,452 | 4,297,563 | 4,138,487 | |||||||||||||||
Short-term Borrowings | 749,729 | 733,411 | 856,425 | 906,958 | 811,942 | |||||||||||||||
Long-term Borrowings | 554,640 | 562,277 | 547,731 | 533,755 | 459,663 | |||||||||||||||
Total Borrowings | 1,304,369 | 1,295,688 | 1,404,156 | 1,440,713 | 1,271,605 | |||||||||||||||
Other Liabilities | 59,063 | 51,136 | 71,679 | 66,188 | 61,693 | |||||||||||||||
Liabilities Related to Discontinued Operations | — | — | — | — | 300,754 | |||||||||||||||
Total Liabilities | 5,961,046 | 5,685,064 | 6,093,287 | 5,804,464 | 5,772,539 | |||||||||||||||
Common Equity | 646,572 | 637,849 | 635,205 | 631,507 | 615,191 | |||||||||||||||
Total Shareholders’ Equity | 646,572 | 637,849 | 635,205 | 631,507 | 615,191 | |||||||||||||||
Total Liabilities & Equity | $ | 6,607,618 | $ | 6,322,913 | $ | 6,728,492 | $ | 6,435,971 | $ | 6,387,730 | ||||||||||
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Three Months Ended | ||||||||||||||||||||
December | December | September | June | March | ||||||||||||||||
2005 | 2004 | 2005 | 2005 | 2005 | ||||||||||||||||
Quarterly Share Data: | ||||||||||||||||||||
Earnings Per Share from Continuing Operations: | ||||||||||||||||||||
Basic | $ | 0.61 | $ | 0.59 | $ | 0.60 | $ | 0.57 | $ | 0.58 | ||||||||||
Diluted | $ | 0.60 | $ | 0.58 | $ | 0.59 | $ | 0.57 | $ | 0.57 | ||||||||||
Earnings Per Share from Discontinued Operations: | ||||||||||||||||||||
Basic | — | — | — | — | — | |||||||||||||||
Diluted | — | — | — | — | — | |||||||||||||||
Earnings Per Share: | ||||||||||||||||||||
Basic | $ | 0.61 | $ | 0.59 | $ | 0.60 | $ | 0.57 | $ | 0.58 | ||||||||||
Diluted | $ | 0.60 | $ | 0.58 | $ | 0.59 | $ | 0.57 | $ | 0.57 | ||||||||||
Common Dividend Declared Per Share | $ | 0.27 | $ | 0.26 | $ | 0.26 | $ | 0.26 | $ | 0.26 | ||||||||||
High Common Stock Price | $ | 38.55 | $ | 39.35 | $ | 38.47 | $ | 36.45 | $ | 38.62 | ||||||||||
Low Common Stock Price | $ | 32.34 | $ | 34.36 | $ | 33.91 | $ | 29.82 | $ | 32.00 | ||||||||||
Average Shares Outstanding (Net of Treasury Stock): | ||||||||||||||||||||
Basic | 42,117,900 | 43,111,287 | 42,383,810 | 42,659,573 | 42,900,416 | |||||||||||||||
Diluted | 42,638,687 | 43,742,803 | 42,918,552 | 43,121,982 | 43,418,579 | |||||||||||||||
Memorandum Items: | ||||||||||||||||||||
Tax Applicable to Security Transactions | $ | (67 | ) | $ | 5 | $ | (33 | ) | $ | 20 | $ | 323 | ||||||||
Common Dividends | $ | 11,356 | $ | 11,553 | $ | 11,009 | $ | 11,072 | $ | 11,138 |
Year Ended | ||||||||||||||||||||
December | December | December | December | |||||||||||||||||
2005 | 2004 | 2003 | 2002 | |||||||||||||||||
YTD Share Data: | ||||||||||||||||||||
Earnings Per Share from Continuing Operations: | ||||||||||||||||||||
Basic | $ | 2.36 | $ | 1.92 | $ | 1.52 | $ | 1.84 | ||||||||||||
Diluted | $ | 2.33 | $ | 1.89 | $ | 1.50 | $ | 1.81 | ||||||||||||
Earnings Per Share from Discontinued Operations: | ||||||||||||||||||||
Basic | — | $ | 0.33 | $ | 0.35 | $ | 0.25 | |||||||||||||
Diluted | — | $ | 0.33 | $ | 0.35 | $ | 0.25 | |||||||||||||
Earnings Per Share: | ||||||||||||||||||||
Basic | $ | 2.36 | $ | 2.25 | $ | 1.87 | $ | 2.09 | ||||||||||||
Diluted | $ | 2.33 | $ | 2.22 | $ | 1.85 | $ | 2.06 | ||||||||||||
Common Dividend Declared Per Share | $ | 1.05 | $ | 1.02 | $ | 1.00 | $ | 0.95 | ||||||||||||
Average Shares Outstanding (Net of Treasury Stock): | ||||||||||||||||||||
Basic | 42,514,445 | 43,404,586 | 42,076,180 | 42,537,980 | ||||||||||||||||
Diluted | 43,024,861 | 43,978,914 | 42,620,568 | 43,113,347 | ||||||||||||||||
Memorandum Items: | ||||||||||||||||||||
Tax Applicable to Security Transactions | $ | 243 | $ | 389 | $ | 641 | $ | (2,193 | ) | |||||||||||
Common Dividends | $ | 44,575 | $ | 44,228 | $ | 42,028 | $ | 40,388 | ||||||||||||
EOP Employees (full-time equivalent) | 1,374 | 1,319 | 1,585 | 1,460 |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Three Months Ended | ||||||||||||||||||||
December | December | September | June | March | ||||||||||||||||
2005 | 2004 | 2005 | 2005 | 2005 | ||||||||||||||||
EOP Share Data: | ||||||||||||||||||||
Book Value Per Share | $ | 15.12 | $ | 14.68 | $ | 15.09 | $ | 14.97 | $ | 14.65 | ||||||||||
Tangible Book Value Per Share | $ | 11.03 | $ | 10.64 | $ | 11.01 | $ | 10.91 | $ | 10.60 | ||||||||||
52-week High Common Stock Price | $ | 38.62 | $ | 39.35 | $ | 39.35 | $ | 39.35 | $ | 39.35 | ||||||||||
Date | 01/03/05 | 12/02/04 | 12/02/04 | 12/02/04 | 12/02/04 | |||||||||||||||
52-week Low Common Stock Price | $ | 29.82 | $ | 29.15 | $ | 29.82 | $ | 29.82 | $ | 29.15 | ||||||||||
Date | 04/29/05 | 05/10/04 | 04/29/05 | 04/29/05 | 05/10/04 | |||||||||||||||
EOP Shares Outstanding (Net of Treasury Stock): | 42,008,179 | 43,008,445 | 42,246,551 | 42,517,597 | 42,790,954 |
Three Months Ended | ||||||||||||||||||||
December | December | September | June | March | ||||||||||||||||
2005 | 2004 | 2005 | 2005 | 2005 | ||||||||||||||||
Selected Yields and Net Interest Margin: | ||||||||||||||||||||
Loans | 6.76 | % | 5.84 | % | 6.43 | % | 6.20 | % | 6.03 | % | ||||||||||
Investment Securities | 5.45 | % | 4.66 | % | 5.38 | % | 4.85 | % | 4.68 | % | ||||||||||
Money Market Investments/FFS | 3.80 | % | 1.24 | % | 3.94 | % | 2.77 | % | 1.94 | % | ||||||||||
Average Earning Assets Yield | 6.43 | % | 5.52 | % | 6.17 | % | 5.86 | % | 5.67 | % | ||||||||||
Interest-bearing Deposits | 2.41 | % | 1.61 | % | 2.15 | % | 1.92 | % | 1.73 | % | ||||||||||
Short-term Borrowings | 3.03 | % | 1.42 | % | 2.56 | % | 2.21 | % | 1.87 | % | ||||||||||
Long-term Borrowings | 6.21 | % | 5.43 | % | 6.09 | % | 5.63 | % | 5.39 | % | ||||||||||
Average Liability Costs | 2.93 | % | 2.03 | % | 2.66 | % | 2.41 | % | 2.22 | % | ||||||||||
Net Interest Spread | 3.50 | % | 3.49 | % | 3.51 | % | 3.45 | % | 3.45 | % | ||||||||||
Net Interest Margin | 4.03 | % | 3.86 | % | 4.00 | % | 3.88 | % | 3.85 | % | ||||||||||
Selected Financial Ratios: | ||||||||||||||||||||
Return on Average Common Equity | 15.76 | % | 15.90 | % | 15.68 | % | 15.50 | % | 15.71 | % | ||||||||||
Return on Average Assets | 1.54 | % | 1.60 | % | 1.55 | % | 1.55 | % | 1.58 | % | ||||||||||
Efficiency Ratio (consolidated) | 40.96 | % | 44.15 | % | 40.76 | % | 42.80 | % | 41.34 | % |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Year Ended | ||||||||||||||||
December | December | December | December | |||||||||||||
2005 | 2004 | 2003 | 2002 | |||||||||||||
Selected Yields and Net Interest Margin: | ||||||||||||||||
Loans | 6.36 | % | 5.72 | % | 6.09 | % | 6.97 | % | ||||||||
Investment Securities | 5.11 | % | 4.60 | % | 4.83 | % | 6.00 | % | ||||||||
Money Market Investments/FFS | 3.09 | % | 1.28 | % | 1.32 | % | 1.77 | % | ||||||||
Average Earning Assets Yield | 6.04 | % | 5.41 | % | 5.71 | % | 6.68 | % | ||||||||
Interest-bearing Deposits | 2.06 | % | 1.45 | % | 1.72 | % | 2.52 | % | ||||||||
Short-term Borrowings | 2.43 | % | 1.08 | % | 1.32 | % | 1.96 | % | ||||||||
Long-term Borrowings | 5.82 | % | 4.82 | % | 5.74 | % | 6.18 | % | ||||||||
Average Liability Costs | 2.56 | % | 1.91 | % | 2.35 | % | 3.03 | % | ||||||||
Net Interest Spread | 3.48 | % | 3.50 | % | 3.36 | % | 3.65 | % | ||||||||
Net Interest Margin | 3.94 | % | 3.84 | % | 3.77 | % | 4.15 | % | ||||||||
Selected Financial Ratios: | ||||||||||||||||
Return on Average Common Equity | 15.66 | % | 15.56 | % | 13.86 | % | 16.73 | % | ||||||||
Return on Average Assets | 1.55 | % | 1.55 | % | 1.36 | % | 1.59 | % | ||||||||
Loan / Deposit Ratio | 100.70 | % | 102.81 | % | 95.57 | % | 91.75 | % | ||||||||
Allowance for Loan Losses/ Loans, Net of Unearned Income | 0.95 | % | 0.98 | % | 1.05 | % | 1.19 | % | ||||||||
Allowance for Credit Losses(1)/ Loans, Net of Unearned Income | 1.14 | % | 1.16 | % | 1.30 | % | 1.38 | % | ||||||||
Nonaccrual Loans / Loans, Net of Unearned Income | 0.15 | % | 0.14 | % | 0.19 | % | 0.20 | % | ||||||||
90-Day Past Due Loans/ Loans, Net of Unearned Income | 0.13 | % | 0.10 | % | 0.28 | % | 0.24 | % | ||||||||
Non-performing Loans/ Loans, Net of Unearned Income | 0.28 | % | 0.24 | % | 0.47 | % | 0.44 | % | ||||||||
Non-performing Assets/ Total Assets | 0.24 | % | 0.22 | % | 0.34 | % | 0.34 | % | ||||||||
Primary Capital Ratio | 10.15 | % | 10.53 | % | 10.35 | % | 10.09 | % | ||||||||
Shareholders’ Equity Ratio | 9.44 | % | 9.81 | % | 9.63 | % | 9.34 | % | ||||||||
Price / Book Ratio | 2.33 | x | 2.60 | x | 2.22 | x | 2.26 | x | ||||||||
Price / Earnings Ratio | 15.10 | x | 17.16 | x | 16.88 | x | 14.09 | x | ||||||||
Efficiency Ratio (consolidated) | 41.45 | % | 49.12 | % | 57.04 | % | 47.26 | % |
Note: (1) Includes allowances for loan losses and lending-related commitments.
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
December | December | September | June | March | ||||||||||||||||
2005 | 2004 | 2005 | 2005 | 2005 | ||||||||||||||||
Asset Quality Data: | ||||||||||||||||||||
EOP Non-Accrual Loans | $ | 7,146 | $ | 6,352 | $ | 7,868 | $ | 9,510 | $ | 5,955 | ||||||||||
EOP 90-Day Past Due Loans | 6,039 | 4,425 | 6,831 | 5,955 | 3,565 | |||||||||||||||
Total EOP Non-performing Loans | $ | 13,185 | $ | 10,777 | $ | 14,699 | $ | 15,465 | $ | 9,520 | ||||||||||
EOP Other Real Estate & Assets Owned | 2,941 | 3,692 | 2,037 | 2,410 | 2,974 | |||||||||||||||
Total EOP Non-performing Assets | $ | 16,126 | $ | 14,469 | $ | 16,736 | $ | 17,875 | $ | 12,494 | ||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
December | December | December | December | December | ||||||||||||||||
2005 | 2004 | 2005 | 2004 | 2003 | ||||||||||||||||
Allowance for Credit Losses:(1) | ||||||||||||||||||||
Beginning Balance | $ | 51,995 | $ | 51,475 | $ | 51,353 | $ | 51,309 | $ | 48,264 | ||||||||||
Allowance of Purchased Companies | — | — | — | — | 3,863 | |||||||||||||||
Provision Expense | 2,058 | 1,328 | 5,618 | 4,520 | 7,475 | |||||||||||||||
54,053 | 52,803 | 56,971 | 55,829 | 59,602 | ||||||||||||||||
Gross Charge-offs | (1,493 | ) | (1,861 | ) | (6,016 | ) | (6,539 | ) | (9,996 | ) | ||||||||||
Recoveries | 311 | 411 | 1,916 | 2,063 | 1,703 | |||||||||||||||
Net Charge-offs | (1,182 | ) | (1,450 | ) | (4,100 | ) | (4,476 | ) | (8,293 | ) | ||||||||||
Ending Balance | $ | 52,871 | $ | 51,353 | $ | 52,871 | $ | 51,353 | $ | 51,309 | ||||||||||
Note: (1) Includes allowances for loan losses and lending-related commitments. |