Company data sheet · United Bankshares
United Bankshares: profitable every year.
- Industry
- State Commercial Banks
- Ticker
- UBSI (Nasdaq)
- Sources
- SEC filings (1994–2026), Stratrix's verified Decision Cases, market data and official economic statistics
- Data as of
- November 15, 2026
- Profitable every year. United Bankshares made money in each of its last ten fiscal years, from $0.1 billion (2016) to $0.5 billion (2025).
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2018 | $0.2 billion | $0.3 billion | |
| 2019 | $0.3 billion | $0.3 billion | |
| 2020 | $0.3 billion | $0.3 billion | |
| 2021 | $0.3 billion | $0.4 billion | |
| 2022 | $0.3 billion | $0.4 billion |
As reported in its annual filings. Losses in red.
Has United Bankshares had layoffs?
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | 2,635 | December 31, 2023 |
| 10-K for 2024 | 2,553 | December 31, 2024 |
| 10-K for 2025 | 2,694 | December 31, 2025 |
Job cuts, severance and restructuring
Employee severance was recorded related to the consolidation of the mortgage delivery channels, which increased employee compensation expense.
“The increase in employee compensation was driven by higher employee incentives, base salaries and employee severance related to the consolidation of the mortgage delivery channels.” 10-K for 2024
United Bankshares has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
What has United Bankshares acquired?
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Community Bankers Trust Corporation (parent company of Essex Bank)“On December 3, 2021, United completed its acquisition of Community Bankers Trust Corporation (“Community Bankers Trust”), the parent company of Essex Bank (“Essex”) with $1.8 billion in assets, headquartered in Richmond, Virginia.” 10-K for 2023 | acquisition | On December 3, 2021 | — |
Carolina Financial Corporation (parent company of CresCom Bank)“On May 1, 2020, United completed its acquisition of Carolina Financial Corporation (“Carolina Financial”), the parent company of CresCom Bank (“CresCom”) with $5.0 billion in assets, headquartered in Charleston, South Carolina.” 10-K for 2023 | acquisition | On May 1, 2020 | — |
Virginia Commerce Bancorp, Inc.“In January 2014, United closed its acquisition of Virginia Commerce Bancorp, Inc., followed by the November 2015 announcement of the Bank of Georgetown transaction which closed June 2016.” 10-K for 2023 | acquisition | In January 2014 | — |
Bank of Georgetown“In January 2014, United closed its acquisition of Virginia Commerce Bancorp, Inc., followed by the November 2015 announcement of the Bank of Georgetown transaction which closed June 2016.” 10-K for 2023 | acquisition | closed June 2016 | — |
Cardinal Financial Corporation“In August 2016, United announced the Cardinal Financial Corporation acquisition which closed April 2017.” 10-K for 2023 | acquisition | closed April 2017 | — |
Piedmont Bancorp, Inc. (parent company of The Piedmont Bank)“On January 10, 2025, United consummated its acquisition of Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank, a Georgia state-chartered bank, with sixteen locations in the State of Georgia.” 10-K for 2024 | agreed acquisition | On January 10, 2025 | — |
Piedmont Bancorp, Inc.“On January 10, 2025, United consummated its acquisition of Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank, a Georgia state-chartered bank, with sixteen locations in the State of Georgia.” 10-K for 2025 | acquisition | January 10, 2025 | — |
Community Bankers Trust Corporation“On December 3, 2021, United completed its acquisition of Community Bankers Trust Corporation (“Community Bankers Trust”), the parent company of Essex Bank (“Essex”) with $1.8 billion in assets, headquartered in Richmond, Virginia.” 10-K for 2025 | acquisition | December 3, 2021 | — |
Carolina Financial Corporation“On May 1, 2020, United completed its acquisition of Carolina Financial Corporation (“Carolina Financial”), the parent company of CresCom Bank (“CresCom”) with $5.0 billion in assets, headquartered in Charleston, South Carolina.” 10-K for 2025 | acquisition | May 1, 2020 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2016-12-31 | −$29.3 million | $152.8 million |
| 2017-12-31 | −$44.5 million | — |
| 2018-12-31 | $0 | — |
| 2019-12-31 | $0 | — |
| 2020-12-31 | −$629.1 million | $318.8 million |
| 2021-12-31 | −$39.4 million | — |
| 2022-12-31 | $0 | — |
| 2023-12-31 | $0 | $0 |
| 2024-12-31 | — | $0 |
| 2025-12-31 | — | $130 million |
Deal filings since 2016
- 2024-05-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-12-03 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2021-06-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-06-16 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2020-05-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2019-11-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-06-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2017-04-24 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2016-08-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-06-06 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
What are United Bankshares's subsidiaries?
Subsidiaries it lists
| Subsidiary | Jurisdiction |
|---|---|
| United Brokerage Services, Inc. | West Virginia |
| United Real Estate Property Services, Inc. | West Virginia |
| United Venture Fund, Inc. | West Virginia |
| United Title Company | West Virginia |
| United Bank | Virginia |
| NVA Properties, LLC | Virginia |
| NVA Residential, LLC | Virginia |
| NVA Commercial, LLC | Virginia |
| Crescent Mortgage Company | Delaware |
| GMBS Capital Management Co. | Nevada |
| UBC Capital Management, Co. | Nevada |
| United Asset Management Corp. | Nevada |
| United Loan Management Co. | Nevada |
| United Statutory Trust III | Connecticut |
| United Statutory Trust IV | Delaware |
| United Statutory Trust V | Delaware |
| United Statutory Trust VI | Delaware |
| Premier Statutory Trust II | Delaware |
| Premier Statutory Trust III | Delaware |
| Premier Statutory Trust IV | Delaware |
| Premier Statutory Trust V | Delaware |
| Centra Statutory Trust I | Delaware |
| Centra Statutory Trust II | Delaware |
| VCBI Capital Trust II | Delaware |
| VCBI Capital Trust III | Delaware |
| Cardinal Statutory Trust I | Delaware |
| UFBC Capital Trust I | Delaware |
| Carolina Financial Capital Trust I | Delaware |
| Carolina Financial Capital Trust II | Delaware |
| Greer Capital Trust I | Delaware |
| Greer Capital Trust II | Delaware |
| First South Preferred Trust I | Delaware |
| DTFS, Inc. | North Carolina |
| Carolina Services Corporation of Charleston | Delaware |
| CresCom Leasing, LLC | North Carolina |
| Western Carolina Holdings, LLC | North Carolina |
| BOE Statutory Trust I | Delaware |
| Essex Services, Inc | Virginia |
From Exhibit 21 of the 10-K for 2025. Companies must list their significant subsidiaries there and may leave out smaller ones, so this is the company’s own list, not every entity it owns.
Layoffs, acquisitions, competitors and subsidiaries are read from United Bankshares’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023), as of 2026-02-27.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Market reaction to disclosed decisions: 20 decision filings since 2016, each linked to the SEC, with the share return against its sector and the US market the next day and the next year (16 with market data).
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