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Cash Flow Statement (rptd.)UNITED BANKSHARES, INC. (NASDAQ - UBSI) 
 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
OPERATING ACTIVITIES 
Net income 85,628129,888137,959147,083
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for loan losses 19,26721,93722,57424,509
Depreciation, amortization and accretion 11,6791,574746(8,720)
Loss (gain) on sales of bank premises, OREO and equipment 592(3,195)2,0595,196
(Gain) loss on securities 5,8093,112(155)(280)
Loans originated for sale (135,260)(96,437)(145,836)(154,335)
Proceeds from sales of loans 151,35793,869146,342160,021
Gain on sales of loans (2,571)(1,876)(2,507)(3,450)
Stock-based compensation 1,7862,1952,4842,817
Excess tax benefits from stock-based compensation arrangements NA(73)(1,023)(4,008)
Deferred income tax expense 2,99010,0971,7297,252
Increase in cash surrender value of bank-owned life insurance policies (6,043)(3,375)(5,557)(3,837)
Amortization of net periodic pension costs 4,0944324,3805,156
Changes in 
Interest receivable (364)1,708(3,467)(755)
Other assets 9,721(2,901)15,372(5,855)
Accrued expenses and other liabilities (6,486)(4,387)(1,222)(4,068)
NET CASH PROVIDED BY OPERATING ACTIVITIES 142,199152,568173,878166,726
INVESTING ACTIVITIES 
Proceeds from maturities and calls of held to maturity securities 2,4791,5181,0565,730
Purchases of held to maturity securities 00(1,000)0
Proceeds from sales of securities available for sale 14,35294,2497,316103,440
Proceeds from maturities and calls of securities available for sale 683,913440,240183,950410,550
Purchases of securities available for sale (845,908)(445,477)(85,249)(504,978)
Redemption of bank-owned life insurance policies 2,5738,9301,974630
Purchases of bank premises and equipment (5,995)(8,876)(5,263)(7,271)
Proceeds from sales of bank premises and equipment 20311,430866554
Acquisition of Virginia Commerce Bancorp, Inc., net of cash paid 0NANANA
Acquisition of subsidiaries, net of cash paid NA97,296029,330
Proceeds from sales and redemptions of other investment securities 27,64852,80419,84564,411
Purchases of other investment securities (40,237)(61,275)(22,181)(72,052)
Proceeds from sales of OREO properties NA13,10210,27017,871
Net change in loans (212,137)(416,523)(296,882)(17,255)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (373,109)(212,582)(185,298)30,960
FINANCING ACTIVITIES 
Cash dividends paid (62,434)(82,496)(88,864)(96,351)
Excess tax benefits from stock-based compensation arrangements 331731,0234,008
Acquisition of treasury stock (93)(2)(1)(1)
Proceeds from exercise of stock options 2,3649,8787,87113,337
Proceeds from the issuance of common stock NA00199,916
Distribution of treasury stock for deferred compensation plan 778111
Repayment of long-term Federal Home Loan Bank borrowings (54,342)(436,734)(794,455)(725,673)
Proceeds of long-term Federal Home Loan Bank borrowings 345,000790,000705,000795,000
Redemption of issued trust preferred securities 0(28,676)00
Changes in 
Time deposits (220,640)262,989(135,674)75,639
Other deposits 89,395140,266433,414408,127
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings 115,792(258,918)(12,624)(294,497)
NET CASH PROVIDED BY FINANCING ACTIVITIES 215,450396,461115,691379,506
INCREASE IN CASH AND CASH EQUIVALENTS (15,460)336,447104,271577,192
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 432,077416,617753,064857,335
CASH AND CASH EQUIVALENTS AT END OF YEAR 416,617753,064857,3351,434,527
Supplemental information 
Cash paid for interest NA42,01239,83544,609
Cash paid for income taxes NA60,43152,31961,905
Noncash investing activities 
Transfers of loans to OREO NA20,8855,85721,776


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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