United Bankshares announces record earnings in 2022
CHARLESTON — United Bankshares reported record earnings for 2022 of $379.6 million as compared to earnings of $367.7 million in 2021, the company announced last week.
Earnings per diluted share for the year of 2022 were $2.80 as compared to earnings per diluted share of $2.83 for the year of 2021. Earnings for the fourth quarter of 2022 were $99.8 million, or 74 cents per diluted share, as compared to earnings of $102.6 million, or 76 cents per diluted share, for the third quarter of 2022.
“With strong performance in the fourth quarter, 2022 finishes as one of the best years in our company’s long history,” Richard M. Adams Jr., United’s CEO, said in the announcement. “Record earnings, record loan growth, and one of the best Total Shareholder Returns in the industry highlight the year’s results. Looking ahead to 2023, our strong profitability, robust capital, disciplined expense control, and conservative credit culture have us well positioned for success.”
Summit Financial Group reports strong earnings
MOOREFIELD, W.Va. — Summit Financial Group reported financial results for the fourth quarter of 2022, including continued strong earnings on growth in loans and total revenue.
The company, which serves commercial and individual clients across West Virginia, the Washington, D.C., metropolitan area, Virginia and Kentucky through Summit Community Bank, reported net income applicable to common shares of $14.9 million, or $1.16 per diluted share, for the fourth quarter of 2022, as compared to $14.2 million, or $1.11 per diluted share, for the third quarter of 2022 and $12.4 million, or 95 cents per diluted share, for the fourth quarter of 2021.
“In the fourth quarter and full year of 2022, our team continued expanding existing customer relationships and cultivating new relationships from our strong commercial pipelines to continue to deliver annualized double-digit loan growth, strong deposit growth, increased revenue and earnings,” H. Charles Maddy, III, president and CEO, said in the announcement. “Our disciplined underwriting standards consistently provide stable asset quality metrics and improved in the fourth quarter and for year-end. Given the challenging interest rate environment, the sequential increase in our tangible book value per common share differentiates us from our peers. Our tremendous operating results in 2022, pending merger with PSB Holding Corp. and the strength of our balance sheet well-positions us for continued growth in 2023.”
WorkForce West Virginia announces statewide virtual job fair
CHARLESTON — WorkForce West Virginia announces the next date in a series of statewide virtual job fairs. Both employers and job seekers are invited to participate in the virtual event from noon to 3 p.m. on Wednesday, Feb. 1.
“Registration is open and on-going for the February Statewide Virtual Job Fair and we continue to encourage West Virginia job seekers and employers to take advantage of this free, online platform to connect and fill these positions across our great state,” said Scott Adkins, acting commissioner of WorkForce West Virginia. “Whether you’re looking for a new job or searching for a career change, or looking to add to your workforce, we invite you to register today!”
Virtual job fairs allow job seekers to apply, live chat, video chat and interview virtually with employers participating in the event.
The virtual statewide job fair portal features a job seeker training video, a list of participating employers, and channels for attendees to register and log in. Job seekers are encouraged to dress professionally and have a calm, clutter-free background, as employers may request to engage in a video interview.
Registration is required for both interested employers and job seekers. Upon registration, employers will create a “virtual booth” to connect with job seekers. After completion, the booth will be available during subsequent job fairs.
For more information about WorkForce West Virginia and the Statewide Virtual Job Fairs, visit www.workforce wv.org or contact workforcewvvirtualjobfairevent@wv.gov.
