United Bankshares reports Q1 EPS 59c, consensus 63c

Reports Q1 tangible book value per share $22.76. Reports Q1 net charge-offs .14%. “This quarter we officially welcomed Piedmont to the United family and we are very excited about entering the Atlanta market,” stated Richard Adams, Jr., United’s CEO. “Closing a deal always brings a lot of noise to the quarter, but that shouldn’t overshadow the excellent results we posted when adjusting for the acquisition. UBSI continues to perform at a high level and have success in these challenging and uncertain times.”