United Bankshares says 3Q income down 3.5 percent - WOWK 13 Charleston, Huntington WV News, Weather, Sports

United Bankshares says 3Q income down 3.5 percent

Posted: Updated:
  • BusinessBusinessMore>>

  • Beware of rental property scam making the rounds, Morrisey advises

    Beware of rental property scam making the rounds, Morrisey advises

    Monday, April 21 2014 9:57 AM EDT2014-04-21 13:57:37 GMT
    Scammers are posting fake rental advertisements on Craigslist and other classified rental sites for properties that might not exist, aren't  available or are owned by someone else. 
    Attorney General Patrick Morrisey said scammers are posting fake rental advertisements on Craigslist and other classified rental sites for properties that might not exist, aren't  available or are owned by someone else. 
  • Felman Production, USW negotiate contract modification

    Felman Production, USW negotiate contract modification

    Monday, April 21 2014 9:38 AM EDT2014-04-21 13:38:42 GMT
    Members of the local union lobbied the PSC in Charleston in December to lower Felman's electricity rates.Members of the local union lobbied the PSC in Charleston in December to lower Felman's electricity rates.
    Felman Production's silicomanganese facility in New Haven operated in the red for at least three years before being idled in July 2013.
    Felman Production and the United Steelworkers of America have reached agreement on contract modifications for workers at the company's silicomanganese plant in New Haven, Chief Executive Officer Mordechai "Motti" Korf said.
  • Tamarack GM stepping down

    Tamarack GM stepping down

    Monday, April 21 2014 8:00 AM EDT2014-04-21 12:00:23 GMT
    The general manager at Tamarack has announced her retirement, effective June 14.
    The general manager at Tamarack has announced her retirement, effective June 14.

CHARLESTON (AP) — United Bankshares Inc. said its third-quarter net income fell 3.5 percent.

United Bank's parent company says it earned $19.3 million, or 38 cents per share, in the quarter ending Sept. 30. United earned $20 million, or 40 cents per share, in the year-ago period.

The 2012 results include an accrual of $3.3 million pertaining to a settlement of claims stemming from class actions against United Bank Inc. of West Virginia, and a noncash, pretax impairment charge of $2.3 million on investment securities. The 2011 results include pretax impairment charges of $7.9 million on investment securities.

Net interest income rose to $71.6 million, down 1 percent from third-quarter 2011.

Charleston, W.Va.-based United has $8.4 billion in assets and 123 branches in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.