CHARLESTON, W.Va. (AP) -- United Bankshares Inc. says its second quarter profit increased 21 percent.
The parent company of United Bank said Thursday that it earned $21 million, or 42 cents per share, in the second quarter of 2012. United earned $17.5 million, or 40 cents per share, in the second quarter of 2011.
The 2012 results include a noncash, pretax impairment charge of $1.7 million on investment securities. The 2011 results include noncash pretax impairment charges of $4.1 million on investment securities.
Net interest income rose to $69 million in the quarter from $58.6 million in second-quarter 2011.
United chairman and CEO Richard M. Adams says earnings continue to be strong.
Charleston, W.Va.-based United has $8.5 billion in assets and 123 branches in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.