United Bankshares, Inc. (“United”) (NASDAQ: UBSI ), parent company of United Bank, today announced the completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc. (“Piedmont”), parent company of The Piedmont Bank.
“We are excited to welcome Piedmont into the United family,” stated Richard M. Adams, Jr., CEO of United Bankshares, Inc. “This acquisition enables us to expand our reach in one of the most sought-after banking markets in the country. We are eager to serve the employees, customers, and communities within our newly expanded footprint.”
This marks United's 34th acquisition, resulting in a combined entity boasting over $32 billion in assets and a network exceeding 240 branches throughout Georgia, South Carolina, North Carolina, Virginia, Maryland, Washington, D.C., West Virginia, Ohio, and Pennsylvania. The previous Piedmont locations will function under the trade name United Bankshares.
“We are thrilled to join forces with United,” stated Monty Watson, the former Chairman and CEO of Piedmont. “The alignment of our cultures and values will significantly enhance the experience for our customers, employees, and shareholders. This merger positions us to better address the changing demands of our community customers while maintaining our commitment to relationship-focused banking and localized decision-making.” Watson will take on the role of regional president overseeing the previous Piedmont branches.
Information on United Bankshares, Inc.
As of September 30, 2024, United had consolidated assets of approximately $30 billion. United is the parent company of United Bank, which comprises more than 225 offices located throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia. United’s stock is traded on the NASDAQ Global Select Market under the quotation symbol " UBSI."
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KEY PHRASE: WEST VIRGINIA, DISTRICT OF COLUMBIA, UNITED STATES, NORTH AMERICA
INDUSTRY KEYWORDS: FINANCIAL SERVICES, BANKING, PROFESSIONAL SERVICES, OTHER PROFESSIONAL SERVICES
SOURCE: United Bankshares, Incorporated.
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发布：2025年1月10日 下午5:15 / 讨论：2025年1月10日 下午5:14
