{"id":799674,"date":"2025-01-10T17:18:02","date_gmt":"2025-01-10T22:18:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/united-bankshares-inc-completes-acquisition-of-piedmont-bancorp-inc\/"},"modified":"2025-01-10T17:18:02","modified_gmt":"2025-01-10T22:18:02","slug":"united-bankshares-inc-completes-acquisition-of-piedmont-bancorp-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/united-bankshares-inc-completes-acquisition-of-piedmont-bancorp-inc\/","title":{"rendered":"United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc."},"content":{"rendered":"

<\/p>\n

United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc.<\/b><\/p>\n

Merger strengthens United\u2019s growing presence across the Southeast<\/i><\/p>\n

WASHINGTON & CHARLESTON, W.Va.–(BUSINESS WIRE<\/a>)–
\nUnited Bankshares, Inc. (\u201cUnited\u201d) (NASDAQ: UBSI<\/a>), parent company of United Bank, today announced the completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc. (\u201cPiedmont\u201d), parent company of The Piedmont Bank.<\/p>\n

\n\u201cWe are thrilled to have Piedmont join the United family,\u201d said Richard M. Adams, Jr., CEO of United Bankshares, Inc. \u201cThis transaction allows us to grow our presence in one of the most desirable banking markets in the nation. We look forward to serving the employees, customers, and communities in our new footprint.\u201d<\/p>\n

\nThe acquisition is United\u2019s 34th<\/sup>, and the combined organization has more than $32 billion in assets and a network of over 240 locations across Georgia, South Carolina, North Carolina, Virginia, Maryland, Washington, D.C., West Virginia, Ohio, and Pennsylvania. The former Piedmont offices will operate under the DBA United Bankshares.<\/p>\n

\n\u201cWe are excited to become a part of United,\u201d said Monty Watson, former Chairman and CEO, Piedmont. \u201cOur organizations\u2019 similar cultures and values will greatly benefit our customers, employees, and shareholders. This merger will allow us to meet the evolving needs of customers in our communities while preserving our focus on relationship-based banking and local decision-making.\u201d Watson will serve as regional president responsible for the former Piedmont locations.<\/p>\n

About United Bankshares, Inc.
\n
<\/b>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\u2019s stock is traded on the NASDAQ Global Select Market under the quotation symbol “UBSI<\/a>.”<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250110714388\/en\/<\/a><\/span><\/p>\n

\nInvestor Contact:
\n
W. Mark Tatterson
\n
Chief Financial Officer
\n
(800) 445-1347 ext. 8716<\/p>\n

\nMedia Contact:
\n
Jacquie Toppings
\n
VP, Director of Communications
\n
Jacquie.Toppings@bankwithunited.com<\/a><\/p>\n

KEYWORDS:<\/b> West Virginia District of Columbia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Other Professional Services Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc. Merger strengthens United\u2019s growing presence across the Southeast WASHINGTON & CHARLESTON, W.Va.–(BUSINESS WIRE)– United Bankshares, Inc. (\u201cUnited\u201d) (NASDAQ: UBSI), parent company of United Bank, today announced the completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc. (\u201cPiedmont\u201d), parent company of The Piedmont Bank. \u201cWe are thrilled to have Piedmont join the United family,\u201d said Richard M. Adams, Jr., CEO of United Bankshares, Inc. \u201cThis transaction allows us to grow our presence in one of the most desirable banking markets in the nation. We look forward to serving the employees, customers, and communities in our new footprint.\u201d The acquisition is United\u2019s 34th, and the combined organization has more than $32 billion in … <\/p>\n

Continue reading “United Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-799674","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nUnited Bankshares, Inc. Completes Acquisition of Piedmont Bancorp, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/united-bankshares-inc-completes-acquisition-of-piedmont-bancorp-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Bankshares, Inc. 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We look forward to serving the employees, customers, and communities in our new footprint.\u201d The acquisition is United\u2019s 34th, and the combined organization has more than $32 billion in … Continue reading "United Bankshares, Inc. 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