Three of WV's largest banks report mixed third-quarter earnings results

City Holding Company, a $6.3 billion bank holding company headquartered in Cross Lanes, announced third quarter net income of $29.8 million, up from the $29.1 earnings in the second quarter.

The company reported tangible equity of $581 million on Sept. 30, 2024.

City Holding Company is the parent company of City National Bank of West Virginia and operates 97 branches across West Virginia, Kentucky, Virginia and Ohio.

United Bank

United Bankshares Inc., the parent company of United Bank, reported lower earnings for the third quarter of 2024 of $95.3 million, down from the $96.5 million earnings in the second quarter.

“It was another successful quarter for UBSI, and we continue to perform at a high level,� Richard M. Adams Jr., United’s CEO, said in the earnings report. “Profitability metrics stayed strong, growth trends continued upward, and expenses were well-controlled. In addition, asset quality, liquidity, and capital levels remain a source of strength.�

United previously announced during the second quarter of 2024 that it entered into a definitive merger agreement with Piedmont Bancorp Inc. The combined organization will have approximately $32 billion in assets.

The merger is expected to close late in the fourth quarter of 2024 or early in the first quarter of 2025, subject to satisfaction of customary closing conditions, the report said.

United Bank has more than 225 offices throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania and Georgia. United Bankshares’ corporate offices are in Parkersburg, while United Bank’s operational headquarters are in downtown ÂÒÂ×ÄÚÉä.

WesBanco

WesBanco Inc., based in Wheeling, reported net income of $34.7 million in the quarter, up slightly from $34.3 million a year ago. Year-to-date earnings were $94.3 million for this year, down from $116.5 million last year.