United Bank (West Virginia)
United Bankshares is a bank holding company headquartered in Charleston, West Virginia with operations in West Virginia, Virginia, the District of Columbia, Maryland, Ohio, Pennsylvania, North Carolina, and South Carolina in the United States.
Based on total deposits, United Bank is the largest bank headquartered in West Virginia and the 2nd largest bank operating in West Virginia, after Truist Financial. It is the 8th largest bank operating in Virginia and the 10th largest bank operating in the District of Columbia.
History
The company traces its roots to St. Patrick's Day 1839, when Northwestern Bank of Virginia opened an office in Parkersburg ; every St. Patrick's Day, it gives shamrocks to its customers. That office eventually evolved into Parkersburg National Bank.In 1982, Parkersburg National began reorganizing as a holding company, United Bankshares. In 1984, United commenced full operations when it acquired Parkersburg National and two other banks. Richard Adams has been chairman and/or CEO of United and its predecessor, Parkersburg National, since 1975.
In 1987, the company became a public company via an initial public offering.
Acquisitions
The company has made the following acquisitions:| # | Date Completed | Company | Price | Ref. |
| 1 | Bank First, NA | $10million | ||
| 2 | First National Bank of Weirton | $4million | ||
| 3 | Liberty Bancshares, Inc. | $12million | ||
| 4 | Summit Holding Corporation | $22million | ||
| 5 | Financial Future Corporation | $18million | ||
| 6 | CB&T Westover Bank | $8million | ||
| 7 | First Commercial Bank | $11million | ||
| 8 | Eagle Bancorp, Inc. | $93million | ||
| 9 | First Patriot Bankshares Corporation | $39million | ||
| 10 | George Mason Bankshares, Inc. | $208million | ||
| 11 | Fed One Bancorp, Inc. | $92million | ||
| 12 | Century Bancshares Inc. | $70million | ||
| 13 | Sequoia Bancshares, Inc. | $112million | ||
| 14 | Premier Community Bankshares, Inc. | $200million | ||
| 15 | Centra Financial Holdings, Inc. | $185million | ||
| 16 | Virginia Commerce Bancorp, Inc. | $467million | ||
| 17 | Bank of Georgetown | $269million | ||
| 18 | Cardinal Bank | $929million | ||
| 19 | Carolina Financial Corp. | $1,100million |