United Bankshares, Inc. (UBSI) reported on Friday that net income for the fourth quarter increased to $94.41 million or $0.69 per share from $79.39 million or $0.59 per share in the prior-year quarter.
The provision for credit losses was $6.7 million, compared to $6.9 million in the year-ago quarter.
Net interest income for the quarter increased 1 percent from the year-ago quarter to $232.61 million, and noninterest income also declined 8 percent from last year to $29.32 million from last year.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.68 per share on revenues of $262.81 million for the quarter. Analysts' estimates typically exclude special items.
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