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Cash Flow Statement (rptd.)UNITED BANKSHARES, INC. (NASDAQ - UBSI) 
 2015 Y2016 Y2017 Y2018 Y
Source Document12/31/201712/31/201812/31/201812/31/2018
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
OPERATING ACTIVITIES 
Net income 137,959147,083150,581256,342
Adjustments to reconcile net income to net cash provided by operating activities 
Provision for loan losses 22,57424,50928,40622,013
Depreciation, amortization and accretion 746(8,720)(21,567)(21,061)
(Gain) Loss on sales of bank premises, OREO and equipment 2,0595,1964,813(772)
Loss (Gain) on securities (155)(280)(5,584)2,618
Loans originated for sale (145,836)(154,335)(2,373,622)(1,994,707)
Proceeds from sales of loans 146,342160,0212,455,2132,041,508
Gain on sales of loans (2,507)(3,450)(58,907)(58,109)
Stock-based compensation 2,4842,8173,5554,073
Excess tax benefits from stock-based compensation arrangements 1,0234,0082,201158
Deferred income tax expense 1,7297,25260,8279,353
Increase in cash surrender value of bank-owned life insurance policies (5,557)(3,837)(5,110)(5,045)
Contribution to pension plan 00(10,000)(7,000)
Amortization of net periodic pension costs 4,3805,1563,3102,566
Changes in 
Loans held for sale 00(8,893)27,417
Interest receivable (3,467)(755)(2,024)(7,782)
Other assets 14,349(5,855)32,92411,824
Accrued expenses and other liabilities (1,222)(8,076)(2,195)9,137
NET CASH PROVIDED BY OPERATING ACTIVITIES 174,901170,734253,928292,533
INVESTING ACTIVITIES 
Proceeds from maturities and calls of held to maturity securities 1,0565,73014,214328
Purchases of held to maturity securities (1,000)0(1,403)0
Proceeds from sales of securities available for sale 7,316103,440247,131171,202
Proceeds from maturities and calls of securities available for sale 183,950410,550439,181270,754
Purchases of securities available for sale (85,249)(504,978)(932,474)(917,907)
Proceeds from sales of equity securities NA002,005
Purchases of equity securities NA00(657)
Proceeds from sales and redemptions of other investment securities 19,84564,41140,83737,860
Purchases of other investment securities (22,181)(72,052)(74,090)(57,154)
Redemption of bank-owned life insurance policies 1,97463000
Purchases of bank premises and equipment (5,263)(7,271)(14,357)(5,776)
Proceeds from sales of bank premises and equipment 866554178,397
Acquisition of subsidiaries, net of cash paid 029,33044,5310
Proceeds from sales of OREO properties 10,27017,8717,06610,816
Net change in loans (296,882)(17,255)496,025(391,381)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (185,298)30,960266,678(871,513)
FINANCING ACTIVITIES 
Cash dividends paid (88,864)(96,351)(121,354)(142,350)
Acquisition of treasury stock (1)(1)(1)(100,724)
Proceeds from exercise of stock options 7,87113,3374,6191,500
Proceeds from the issuance of common stock 0199,91600
Distribution of treasury stock for deferred compensation plan 1111
Repayment of long-term Federal Home Loan Bank borrowings (794,455)(725,673)(845,208)(755,000)
Proceeds from issuance of long-term Federal Home Loan Bank borrowings 705,000795,000815,000950,000
Repayment of trust preferred issuance NA00(9,374)
Changes in 
Time deposits (135,674)75,639614,821(293,184)
Other deposits 433,414408,127(928,665)458,600
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (12,624)(294,497)171,821(176,260)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES 114,668375,498(288,966)(66,791)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 104,271577,192231,640(645,771)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 753,064857,3351,434,5271,666,167
CASH AND CASH EQUIVALENTS AT END OF YEAR 857,3351,434,5271,666,1671,020,396
Supplemental information 
Cash paid for interest 39,83544,60972,715124,679
Cash paid for income taxes 52,31961,90573,09655,336
Noncash investing activities 
Transfers of loans to OREO 5,85721,77617,6151,840


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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