• United Bankshares average operating margin for 2023 was 34.56%, a 16.96% decline from 2022.
• United Bankshares average operating margin for 2022 was 41.62%, a 1.79% decline from 2021.
• United Bankshares average operating margin for 2021 was 40.89%, a 33.67% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.