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Cash Flow Statement (rptd.)UNITED BANKSHARES, INC. (NASDAQ - UBSI) 
 2014 Y2015 Y2016 Y2017 Y
Source Document12/31/201612/31/201712/31/201712/31/2017
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
OPERATING ACTIVITIES 
Net income 129,888137,959147,083150,581
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for loan losses 21,93722,57424,50928,406
Depreciation, amortization and accretion 1,574746(8,720)(21,567)
Loss (gain) on sales of bank premises, OREO and equipment (3,195)2,0595,1964,813
(Gain) loss on securities 3,112(155)(280)(5,584)
Loans originated for sale (96,437)(145,836)(154,335)(2,373,622)
Proceeds from sales of loans 93,869146,342160,0212,455,213
Gain on sales of loans (1,876)(2,507)(3,450)(58,907)
Stock-based compensation 2,1952,4842,8173,555
Excess tax benefits from stock-based compensation arrangements (73)1,0234,0082,201
Deferred income tax expense 10,0971,7297,25260,827
Increase in cash surrender value of bank-owned life insurance policies (3,375)(5,557)(3,837)(5,110)
Contribution to pension plan NA00(10,000)
Amortization of net periodic pension costs 4324,3805,1563,310
Changes in 
Loans held for sale NA00(8,893)
Interest receivable 1,708(3,467)(755)(2,024)
Other assets (2,901)14,349(5,855)32,924
Accrued expenses and other liabilities (4,387)(1,222)(8,076)(2,195)
NET CASH PROVIDED BY OPERATING ACTIVITIES 152,568174,901170,734253,928
INVESTING ACTIVITIES 
Proceeds from maturities and calls of held to maturity securities 1,5181,0565,73014,214
Purchases of held to maturity securities 0(1,000)0(1,403)
Proceeds from sales of securities available for sale 94,2497,316103,440247,131
Proceeds from maturities and calls of securities available for sale 440,240183,950410,550439,181
Purchases of securities available for sale (445,477)(85,249)(504,978)(932,474)
Redemption of bank-owned life insurance policies 8,9301,9746300
Purchases of bank premises and equipment (8,876)(5,263)(7,271)(14,357)
Proceeds from sales of bank premises and equipment 11,43086655417
Acquisition of subsidiaries, net of cash paid 97,296029,33044,531
Proceeds from sales and redemptions of other investment securities 52,80419,84564,41140,837
Purchases of other investment securities (61,275)(22,181)(72,052)(74,090)
Proceeds from sales of OREO properties 13,10210,27017,8717,066
Net change in loans (416,523)(296,882)(17,255)496,025
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (212,582)(185,298)30,960266,678
FINANCING ACTIVITIES 
Cash dividends paid (82,496)(88,864)(96,351)(121,354)
Excess tax benefits from stock-based compensation arrangements 73NANANA
Acquisition of treasury stock (2)(1)(1)(1)
Proceeds from exercise of stock options 9,8787,87113,3374,619
Proceeds from the issuance of common stock 00199,9160
Distribution of treasury stock for deferred compensation plan 81110
Repayment of long-term Federal Home Loan Bank borrowings (436,734)(794,455)(725,673)(845,208)
Proceeds of long-term Federal Home Loan Bank borrowings 790,000705,000795,000815,000
Redemption of issued trust preferred securities (28,676)NANANA
Changes in 
Time deposits 262,989(135,674)75,639614,821
Other deposits 140,266433,414408,127(928,665)
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (258,918)(12,624)(294,497)171,821
NET CASH PROVIDED BY FINANCING ACTIVITIES 396,461114,668375,498(288,967)
INCREASE IN CASH AND CASH EQUIVALENTS 336,447104,271577,192231,640
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 416,617753,064857,3351,434,527
CASH AND CASH EQUIVALENTS AT END OF YEAR 753,064857,3351,434,5271,666,167
Supplemental information 
Cash paid for interest 42,01239,83544,60972,715
Cash paid for income taxes 60,43152,31961,90573,096
Noncash investing activities 
Transfers of loans to OREO 20,8855,85721,77617,615


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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