United Bankshares, Inc. Finalizes Purchase of Piedmont Bancorp, Inc.

United Bankshares, Inc. (“United”) (NASDAQ: UBSI ), parent company of United Bank, today announced the completion of its acquisition of Atlanta-based Piedmont Bancorp, Inc. (“Piedmont”), parent company of The Piedmont Bank.

“We are excited to welcome Piedmont into the United family,” stated Richard M. Adams, Jr., CEO of United Bankshares, Inc. “This acquisition enables us to expand our reach in one of the most sought-after banking markets in the country. We are eager to serve the employees, customers, and communities within our newly expanded footprint.”

This marks United's 34th acquisition, resulting in a combined entity boasting over $32 billion in assets and a network exceeding 240 branches throughout Georgia, South Carolina, North Carolina, Virginia, Maryland, Washington, D.C., West Virginia, Ohio, and Pennsylvania. The previous Piedmont locations will function under the trade name United Bankshares.

“We are thrilled to join forces with United,” stated Monty Watson, the former Chairman and CEO of Piedmont. “The alignment of our cultures and values will significantly enhance the experience for our customers, employees, and shareholders. This merger positions us to better address the changing demands of our community customers while maintaining our commitment to relationship-focused banki