United Bankshares Inc., the parent company of United Bank, announced record earnings for 2019 this week.
Total earnings for 2019 were $260.1 million, or $2.55 per diluted share, according to a news release from the company.
Earnings for the fourth quarter of 2019 were $63.3 million, or 62 cents per diluted share; that was slightly down from the fourth quarter of the previous year.
Richard M. Adams, United’s chairman of the board and chief executive officer, said 2019 was “another great year for United Bankshares.”
United’s return on average assets was 1.34 percent, the return on average equity was 7.8 percent and the return on average tangible equity was 14.26 percent.
As of the end of 2019, United had consolidated assets of approximately $19.7 billion. United is the parent company of United Bank, the largest community bank headquartered in the D.C. Metro region.
United Bank comprises 138 full-service banking offices and 16 George Mason Mortgage, LLC, locations located throughout Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania and Washington, D.C.
United’s stock is traded on the NASDAQ stock market under the symbol UBSI. The stock closed at $35.01 per share Thursday, up 70 cents from Wednesday, but still one of the company’s lowest closing prices of the past year.