United Bank Claims No. 1 Market Share in West Virginia

Position reinforces United's local, personalized approach and strategic commitment to West Virginia

Charleston, WV -United Bank has achieved the position of No. 1 bank in the state by local deposit market share. The FDIC recently released the results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2024. In West Virginia, United claimed the top deposit market share position, with $6,287,017 in deposits and 13.5% market share.

"No company has been serving West Virginia longer than United. We are proud that our deep local roots and personal relationships throughout the Mountain State continue to make United 'West Virginia's Bank,'" said Richard M. Adams, Jr., CEO, United Bankshares, Inc. "We are incredibly committed to serving our communities throughout this great state with safe, sound, and secure practices that have allowed our Company to weather any storm for 185 years."

United has grown from a single office bank in Parkersburg, W.V., to one of the most successful regional financial services companies in the nation, with approximately $30 billion in assets and more than 225 locations throughout West Virginia, the Mid-Atlantic, and the Southeast. It is the 38th largest banking company in the U.S. based on market capitalization. As the Bank executes its growth strategy and enters new markets, United proudly maintains a strong presence in its founding state and creates employment opportunities in the region. Its holding company, United Bankshares, Inc., headquartered in the state capital of Charleston, is the largest publicly traded company in West Virginia.

"At United Bank, we win 'Market by Market,'" said D.F. Mock III, United's West Virginia Regional President. "We are proud to have strong local leaders in each of our markets who are dedicated to the people and organizations in their communities. They are empowered to make decisions, they respond quickly to our customers, and they embody the entrepreneurial spirit that drives our culture."

The Company's experienced leadership, consistent performance, and focus on relationships make it the bank of choice for the customers, investors, team members, and communities it serves. In recognition of its commitment to its stakeholders, United has been ranked as one of the top 5 Most Trustworthy Banks in America by Newsweek for three consecutive years and has been hailed among America's Best Banks by Newsweek, earning the No. 1 spot in West Virginia in 2023.

ABOUT UNITED BANK

United Bank is a premier community bank and a subsidiary of United Bankshares, Inc. (NASDAQ: UBSI), the largest publicly traded company headquartered in West Virginia. United has consolidated assets of approximately $30 billion with more than 225 offices located throughout West Virginia, Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia, as well as Washington, D.C. The Bank is dedicated to growing the relationships it has built since 1839 and offering a competitive suite of banking and lending products, treasury management, wealth management, mortgage services, personal and business credit cards, and more. Learn more about United Bank.