United Bankshares, Inc. (UBSI) reported an increase in its second-quarter net earnings to $33.2 million or $0.48 per share from $22.2 million or $0.44 per share last year. The results mirrored higher net interest income.
On average, 8 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.47 for the quarter. Analysts' estimates typically exclude one-time items.
The company's net interest income rose to $93.93 million from $66.20 million, while non-interest income for the quarter remained flat at $19.1 million. Analysts estimated revenue of $113.77 million.
Further, the board proposed a cash dividend of $0.32 per share for the quarter.
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