CHARLESTON, W.Va. - United Bankshares, Inc., parent company of United Bank, saw a slight profit jump in the first quarter.
The company reported first quarter 2013 earnings of $21.6 million, or 43 cents per share, a slightly ahead of the $21 million 42 cents per share it reported for the first quarter of 2012.
The company reported that it remains well-capitalized compared to peers.
During the first quarter, its board declared a 31-cent per share cash dividend, marking the 39th consecutive year of dividend increases for United shareholders.
With 115 full-service offices across five states and Washington, D.C., United is now in the process of acquiring Arlington, Va.-based Virginia Commerce Bancorp, Inc., which has 28 offices in northern Virginia.