Better Health for All

United Bankshares, Inc. (UBSI) is a financial holding company whose core banking services are neutral in terms of direct health impact. The company's products do not have direct safety implications for physical or mental health, nor are they health-related products requiring price accessibility considerations. Therefore, these KPIs are scored as neutral or not applicable. UBSI demonstrates efforts to reach vulnerable populations by providing closing cost assistance grants up to $10,000 for residents of historically underserved communities, helping 423 homebuyers with $3.7 million in 2024 and 730 homebuyers with $6.8 million in 2023.

It partners with micro-lenders and CDFIs for underserved communities, and its call center supports over 170 languages, with ATMs offering services in Spanish and being ADA-accessible. In 2024, over 100 employees visited approximately 70 schools where 50% or more of students qualify for free or reduced lunch. All participants in the Opportunity Scholars program are from low-income families. For risk transparency, United uses the FEMA national risk index to assess physical risk for its portfolio and operational locations, and has a Climate Risk Committee and Climate Working Group. However, these are focused on climate and financial risks, not health risks of its products. The company follows the Greenhouse Gas Protocol Standard, reporting 1,959 MTCO2eq in Scope 1 and 9,364 MTCO2eq in Scope 2 emissions in 2023, and recycled 839,589 pounds of paper in 2024. These are environmental externalities, not direct health externalities. United has several health equity programs, including the closing cost assistance grants for underserved communities, partnerships with micro-lenders and CDFIs, and a Diversity, Equity, and Inclusion Council. However, no specific funding percentage of revenue is provided for these programs. United offers a comprehensive Employee Assistance Program (EAP) for all employees, increased parental leave and family medical leave, and added enhanced infertility coverage. The company held its first annual wellness month in 2023 and has incorporated employee education into its Summer Learning Series to positively impact healthcare spend. United is compliant with the Gramm-Leach Bliley Act (GLBA) for data protection, employs encryption technologies, and requires annual employee training on privacy and security practices. The company's EAP provides comprehensive support for mental health needs. United team members educate local students on financial topics, visiting approximately 70 schools in 2024 where 50% or more of students qualify for free or reduced lunch. The company partners with recovery programs, and in 2023, United Bank donated $5,000 to Westbrook Health Services, Inc., which provides behavioral healthcare and substance use disorder treatment.

Fair Pay & Worker Respect

For the 2024 fiscal year, the CEO to median employee pay ratio was 97:1, with the CEO's total compensation at $5,538,879 and median employee compensation at $57,024.

In 2026, a $2 million class settlement was reached for approximately 74 former workers related to a 2021 liquidation, with an average gross payment of nearly $27,000 per participant, representing 43% of maximum potential damages. The company offers comprehensive health insurance coverage, including dental, vision, and medical, along with a pre-tax Health Reimbursement Account with employer contributions, life and disability benefits, and pet insurance options.

Honest & Fair Business

The company has a formal whistleblower policy that allows employees to report questionable accounting, internal controls, or audit matters to Internal Audit, the Chief Audit Executive, the General Counsel, or via an ethics hotline.

Reports are handled confidentially and may be submitted anonymously. A policy explicitly addressing gifts, entertainment, conflicts of interest, and insider trading is also in place as part of a code of conduct for Directors, officers, and employees.

Kind to Animals

United Bankshares, Inc. (UBSI.US) is a financial institution, and its core business model does not involve animal exploitation, animal testing, animal-derived products, or animal agriculture.

Therefore, most KPIs related to these activities are not applicable, as confirmed by the company's stated 'No Animal Exploitation'. Regarding public policy engagement, United supports and participates in various industry trade associations, including lobbying efforts on behalf of the banking industry, but there is no public position on animal welfare legislation or engagement with animal welfare stakeholders.

No War, No Weapons

UBSI.US, a financial holding company, states it has no significant involvement in military contracting, controversial weapons, or small arms.

Its core business is banking, which does not involve defense or arms-related activities, nor does it develop or sell dual-use products. The company reports compliance with the Office of Foreign Assets Control (OFAC), which enforces sanctions against embargoed regimes, indicating strict embargo compliance.

Planet-Friendly Business

In 2023, the company reported Scope 1 emissions of 1,959 tCO₂e and Scope 2 emissions of 9,364 tCO₂e, totaling 11,323 tCO₂e.

While these direct emissions are low, Scope 3 emissions are not disclosed, which is a significant omission for a financial institution. The company follows the Greenhouse Gas Protocol Standard for measuring and reporting Scope 1 and Scope 2 GHG emissions. The company uses solar-powered lamps in open areas, but the overall share of operational energy from renewables is not specified beyond this limited use. The company promotes tumbler use to reduce plastic waste and recycles paper (839,589 pounds in 2024) and IT equipment (2,233 pieces in 2024), but a comprehensive waste diversion rate is not provided. The company has incorporated climate risk into its enterprise risk management (ERM) framework and its risk appetite statement, with oversight from the Board of Directors and a Climate Working Group. It considers physical and transition risks, and has analyzed transition risk on its Commercial and Industrial (C&I) portfolio and physical risk on its Commercial Real Estate (CRE) portfolio using the FEMA national risk index. Approximately 8% of its facilities are in locations that FEMA rates as facing very high physical risk. The company evaluated the actual dollar impact of Hurricane Helene as a contextual baseline for future natural events. It requires flood insurance for loans secured by buildings in flood hazard areas and maintains an environmental risk policy for certain loans. The company has invested over $8 million in the DC PACE Program since 2013, which facilitates financing for clean energy and energy efficiency improvements, including a $125,000 financing for a solar energy system and green roofing upgrades at a daycare center. However, the percentage of climate spending directed to adaptation for vulnerable communities is not specified beyond this.

Respect for Cultures & Communities

United Bankshares, Inc. partnered with 25 organizations dedicated to serving military Veterans and their families in 2024.

In 2023, the company's total assets were nearly $30 billion, and it originated over $200 million in community development loans and investments, which represents approximately 0.67% of assets. No cultural appropriation incidents have been reported. While no specific cultural impact assessment protocol is mentioned, the company's fair lending plan outlines community outreach and marketing strategies to reach diverse customer segments. The workforce racial makeup includes 5% Asian, 11% Black, 3% Multi-racial, <1% Native Peoples, and 80% White, with 5% Hispanic or Latino ethnicity. The company offers employees a confidential and anonymous whistleblower hotline and website submission form for concerns. 35 United Bank employees serve on the board of directors and committees of Premier Partner organizations. For language inclusivity, callers to United’s call center can interact in over 170 languages on demand, and ATMs provide services in Spanish. The company plans to translate its public-facing website and critical customer communications in 2025. All employees receive DE&I Awareness training upon hire, and managers participate in Cultivating Inclusive Teams workshops.

Safe & Smart Tech

United Bankshares invested $8.7 million in cybersecurity in 2023.

The company experienced a data breach on June 30, 2023, involving unauthorized access to consumer names and bank account numbers via a third-party software tool. Following this, United Bank installed patches to address the software vulnerability. Another breach involved unauthorized access to MOVEit software, compromising patient payment records from December 2022 to May 2023. The company reports 99.6% effectiveness against potential data breaches and a 12.4-minute security incident response time. United Bank's privacy policies allow customers to limit sharing with affiliates for marketing purposes and for everyday business purposes (except creditworthiness), and also detail specific sharing limitations for various states including Alaska, Illinois, Maryland, North Dakota, California, Massachusetts, Mississippi, and New Jersey. The company complies with federal law and specific state privacy regulations, as well as the Dodd-Frank Act, Basel III Capital Requirements, and Anti-Money Laundering (AML) regulations.

Zero Waste & Sustainable Products

The company has implemented several waste reduction initiatives, including encouraging e-statements which led to over 450,000 pounds of paper being recycled.

They also recycled 3,331 pieces of outdated IT equipment and other materials such as fluorescent bulbs, copper, scrap steel, and batteries. No waste disposal violations were mentioned in the 2022 or 2023 reports. The company encourages customers to sign up for e-statements as a method of waste education.