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United Bank Celebrates 180 Years As it Closes Record-Breaking Year
Parkersburg, W.Va. & Vienna. Va. – On March 17, 1839, United Bank, originally known as the Northwestern Bank of Virginia, opened its doors in Parkersburg, W.Va. During the 42 years of the current administration and through 31 acquisitions, it has grown from a single office, $100 million bank to one of the most successful regional financial services companies in the USA, with $19.3 billion in assets and offices located throughout West Virginia, Virginia, Washington, D.C., Ohio, Pennsylvania, Maryland, North Carolina and South Carolina. In less than three and a half years and through three acquisitions, United more than doubled the size of its company.
United’s 180th anniversary follows a highly notable 2018 for the bank. Its parent company, United Bankshares, Inc. (NASDAQ: UBSI), reported record earnings, outperformed its Federal Reserve peer group and increased dividends to its shareholders for the 45th consecutive year – a record only one other major banking company in the nation has been able to achieve. Furthermore, United’s employee volunteer program was recognized by the American Bankers Association as the Top U.S. Bank Employee Volunteer Program.
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