United Bankshares reported third quarter 2026 net income of $128.7 million, with diluted EPS of $0.94 matching analyst estimates. The bank achieved record net interest income during the period, driven by loan growth and margin expansion, which helped offset a 20% sequential decline in noninterest income caused by unrealized investment losses and lower mortgage volumes.
Key Highlights
- Net interest margin expanded to 3.86%, up from 3.81% in the second quarter of 2026, driven by higher yields on loans and strategic investment purchases.
- Record net interest income of $294.3 million increased 3% sequentially and 5% compared to the third quarter of 2025.
- Noninterest income fell to $30.8 million from $38.5 million in the prior quarter, primarily due to unrealized fair value losses on equity securities and lower mortgage banking production.
- Credit quality remained stable with non-performing loans at 0.43% of total loans, while the bank repurchased approximately 2.1 million shares of common stock during the quarter.