United Bankshares Earnings Fall In Q1

(RTTNews) - United Bankshares, Inc.(UBSI), a financial services company, on Thursday announced a decrease in first quarter net income, compared with the last year.

For the first quarter, net income declined to $84.31 million from $86.81 million last year.

Earnings per share decreased to $0.59 versus $0.64 last year.

Net interest income was $260.06 million, down from $222.49 million last year.

Non-interest income increased to $29.55 million from $29.32 million in the previous year.

Loans & leases, net of unearned income increased to $23.86 million from $21.52 million last year.

Loans held for sale decreased to $28,642 from $44,426 in the previous year.

Total deposits increased to $26.36 million from $22.92 million in the prior year.

In the pre-market trading, United Bankshares is 1.54% higher at $35 on the Nasdaq.