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United Bank Marks 174 Years

March 25, 2013
The Intelligencer / Wheeling News-Register

WHEELING - United Bank recently celebrated its 174th anniversary by inviting the community to stop by for cake and refreshments.

United first opened its doors on St. Patrick's Day in 1839. What started as a small bank has grown into a high-performance regional banking company with $8.4 billion in assets with dual corporate headquarters in Charleston, West Virginia and Washington, D.C. Today, United employs over 1,500 knowledgeable financial professionals and continues to operate using the same fundamentals on which it began - integrity, hard work, teamwork and caring for the people and the communities it serves.

United Bankshares, Inc. (UBSI), the parent company of United Bank, is ranked the 60th largest banking company in the U.S. based on market capitalization.

UBSI has been a publicly traded company on NASDAQ for more than 25 years. In 2012, United increased dividends for the 39th consecutive year to its shareholders, a record only one other major banking company in the nation has been able to achieve.

Bank Director Magazine recently ranked United Bankshares, Inc. as the 18th best performing bank of all U.S. banks with assets between $5 and $50 billion. The rankings were based upon profitability, capital adequacy, and asset quality.

United Bankshares, Inc. Chairman and Chief Executive Officer, Richard M. Adams, recently announced the signing of a definitive merger agreement with Virginia Commerce Bankcorp, Inc.(VCBI), which is headquartered in Arlington, Virginia. Virginia Commerce has $2.8 billion in assets, 28 banking offices, one residential mortgage origination office, and one wealth management office. The acquisition of VCBI will afford United the opportunity to significantly enhance its existing footprint in the Washington, D.C. Metropolitan Statistical Area.

United Bankshares currently has 115 full-service offices in West Virginia, Washington, D.C., Virginia, Maryland, Pennsylvania, and Ohio. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI".

 
 

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