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United Bankshares, Inc. Announces Earnings for the Second Quarter and First Half of 2017
WASHINGTON, D.C. and CHARLESTON, WV-- United Bankshares, Inc. (NASDAQ: UBSI), today reported earnings for the second quarter and the first half of 2017. Earnings for the second quarter of 2017 were $37.1 million or $0.37 per diluted share, as compared to earnings of $31.8 million or $0.44 per diluted share for the second quarter of 2016. Earnings for the first half of 2017 were $75.9 million or $0.84 per diluted share as compared to earnings of $66.5 million or $0.94 per diluted share for the first half of 2016.
“During the second quarter of 2017, we successfully completed the largest merger in our Company’s history with the acquisition of Cardinal Financial Corporation, headquartered in Tysons Corner, Virginia,” stated Richard M. Adams, United’s Chairman of the Board and Chief Executive Officer. “Despite significant merger expenses related to the acquisition of Cardinal, our core earnings remain strong.”
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