United Bankshares Q4 Profit Increases, Tops Estimates

(RTTNews) - United Bankshares, Inc. (UBSI) reported on Friday that net income for the fourth quarter increased to $94.41 million or $0.69 per share from $79.39 million or $0.59 per share in the prior-year quarter.

The provision for credit losses was $6.7 million, compared to $6.9 million in the year-ago quarter.

Net interest income for the quarter increased 1 percent from the year-ago quarter to $232.61 million, and noninterest income also declined 8 percent from last year to $29.32 million from last year.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.68 per share on revenues of $262.81 million for the quarter. Analysts' estimates typically exclude special items.