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United reports earnings growth

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By JIM ROSS

For The State Journal

United Bankshares reported strong growth in earnings in the second quarter thanks to an acquisition that was completed in January.

United reported second-quarter net income of $33.2 million in the quarter, up from $22.2 million a year ago. For the first half, income totaled $63.4 million, up from $43.8 million last year.

On Jan. 31, United completed its acquisition of Virginia Commerce Bancorp of Arlington, Virginia. At that time, Virginia Commerce had assets of approximately $2.8 billion, loans of $2.1 billion and deposits of $2 billion.

United is based in Parkersburg. It has consolidated assets of about $12.1 billion with 132 full-service offices in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.

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