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Income Statement (rptd.)UNITED BANKSHARES, INC. (NASDAQ - UBSI) 
 2015 Y2016 Y2017 Y2018 Y
Source Document12/31/201712/31/201812/31/201812/31/2018
(in thousands)    
Interest income 
Interest and fees on loans 387,713430,738565,537636,720
Interest on federal funds sold and other short-term investments 1,6453,49516,03519,268
Interest and dividends on securities 
Taxable 30,74432,35736,71556,273
Tax-exempt 3,5283,7515,5195,454
Total interest income 423,630470,341623,806717,715
Interest expense 
Interest on deposits 28,02329,12549,72691,507
Interest on short-term borrowings 8341,5841,5792,245
Interest on long-term borrowings 10,64914,30123,50435,318
Total interest expense 39,50645,01074,809129,070
Net interest income 384,124425,331548,997588,645
Provision for loan losses 22,57424,50928,40622,013
Net interest income after provision for loan losses 361,550400,822520,591566,632
Other income 
Fees from trust services NA12,02511,80112,930
Fees from brokerage services 19,0857,0127,7309,347
Fees from deposit services 37,96232,85833,62233,973
Bankcard fees and merchant discounts 4,7865,2154,7955,168
Other service charges, commissions, and fees 2,1412,0592,0572,228
Income from bank-owned life insurance 5,5575,7945,1105,045
Income from mortgage banking activities 2,5073,45058,90758,109
Net gain on the sale of bank premises NA002,763
Net investment securities (losses) gains 1552805,584(2,618)
Other income 1,4331,3392,0391,767
Total other-than-temporary impairment losses (113)NANANA
Portion of loss recognized in other comprehensive income 66NANANA
Net other-than-temporary impairment losses (47)NANANA
Net gains on sales/calls of investment securities 202NANANA
Total other income 73,62670,032131,645128,712
Other expense 
Employee compensation 88,12395,655166,393164,468
Employee benefits 27,08626,59134,99736,172
Net occupancy expense 24,30127,52939,06736,462
Other real estate owned (OREO) expense 3,6135,8446,0033,444
Equipment expense 9,0348,62210,52813,846
Data processing expense 14,86715,28021,01923,800
Bankcard processing expense 1,5051,7421,8091,971
FDIC insurance expense 8,3678,5487,05111,464
Other expense 54,79158,38580,54276,552
Total other expense 231,687248,196367,409368,179
Income before income taxes 203,489222,658284,827327,165
Income taxes 65,53075,575134,24670,823
Net income 137,959147,083150,581256,342
Earnings per common share 
Basic 1.992.01.542.46
Diluted 1.981.991.542.45
Dividends per common share 1.291.321.331.36
Average outstanding shares 
Basic 69,334,84973,531,99297,502,633104,015,976
Diluted 69,625,53173,893,12797,890,078104,298,825
Net income 137,959147,083150,581256,342
Change in net unrealized (loss) gain on available-for-sale (AFS) securities, net of tax (4,068)(7,782)4,093(9,015)
Accretion of the net unrealized loss on the transfer of AFS securities to held-to-maturity (HTM) securities, net of tax 5656
Change in defined benefit pension plan, net of tax 1,6151,271(1,406)504
Comprehensive income, net of tax 135,511140,578153,273247,837

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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