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July 29, 2014
07:51 EDTUBSIUnited Bankshares reports Q2 EPS 48c, consensus 47c
Second quarter of 2014 results produced a return on average assets of 1.13% and a return on average equity of 8.16%, respectively. For the first half of 2014, Unitedís return on average assets was 1.14% while the return on average equity was 8.36%. The results for the second quarter and first half of 2014 included noncash, before-tax, other-than-temporary impairment charges of $421 thousand and $1.1 million, respectively, on certain investment securities. The results for the second quarter and first half of 2013 included noncash, before-tax, other-than-temporary impairment charges of $137 thousand and $971 thousand, respectively, on certain investment securities. United continues to be well-capitalized based upon regulatory guidelines. Unitedís estimated risk-based capital ratio is 13.5% at June 30, 2014 while its Tier I capital and leverage ratios are 12.5% and 10.6%, respectively. The regulatory requirements for a well-capitalized financial institution are a risk-based capital ratio of 10%, a Tier I capital ratio of 6% and a leverage ratio of 5%.
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