United Bankshares, Inc. to Acquire Community Bankers Trust Corporation
WASHINGTON, D.C., CHARLESTON, WV, and RICHMOND, VA — United Bankshares, Inc. (“United”) (NASDAQ: UBSI), the parent company of United Bank, and Community Bankers Trust Corporation (“Community Bankers Trust”) (NASDAQ: ESXB), the parent company of Essex Bank, today announced that they have entered into a definitive merger agreement.
The combined organization will be approximately $29 billion in assets and rank as the 38th largest banking company in the U.S. based on market capitalization. The merger brings together two high-performing banking companies and strengthens United’s position as one of the largest and best performing regional banking companies in the Mid-Atlantic and Southeast. Community Bankers Trust has assets of approximately $1.7 billion and is headquartered in the greater Richmond, Virginia market. This transaction represents the 33rd acquisition of the current administration of United and will result in a combined company with nearly 250 locations in some of the most desirable banking markets in the nation.
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