United Bankshares announces earnings increase for quarter and ye - WBOY - Clarksburg, Morgantown: News, Sports, Weather

United Bankshares announces earnings increase for quarter and year

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United Bankshares on Jan. 29 announced increased earnings for both the fourth quarter and full year 2012 compared with 2011.

Earnings for the fourth quarter were $21.2 million, up 5 percent over 2011. Earnings for the year were $82.6 million, an increase of 9 percent from earnings of $75.6 million in 2011.

"The year 2012 was another successful year for United," Richard M. Adams, United's chairman and CEO said in the earnings release. "Earnings rose from 2011 while the dividend to shareholders was increased for the 39th consecutive year. Only one other major banking company in the USA has achieved such a dividend record."

Total assets declined slightly, ending 2012 at $8.42 billion, down from $8.45 billion at the end of 2011 but still higher than the total of $7.156 billion on Dec. 31, 2010.

United is based in Parkersburg. It has 115 full service offices in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.

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