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United Bankshares
United Bankshares

-6.62%

Financial services / Banking and Financial Services

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Overview
United Bankshares is a leading regional bank holding company, headquartered in Charleston, West Virginia. The company was founded in 1839 and has a long history of serving communities in the Mid-Atlantic and Southeast regions of the United States.
United Bankshares offers a wide range of financial products and services, including traditional banking, commercial lending, mortgage banking, insurance and investment services. The company operates through its subsidiaries - United Bank, Bank of Charles Town, Virginia Commerce Bank, and Carolina Financial Corporation.
As of 2021, United Bankshares has over $26 billion in assets and approximately 220 branches across West Virginia, Virginia, Ohio, Maryland, North Carolina, South Carolina, Washington, D.C., and Pennsylvania. The company's mission is to provide its customers with the highest level of personalized financial services and to be an integral part of the communities it serves.
What is special about the company?
1. Long history: United Bankshares has a long and successful history dating back to 1839, making it one of the oldest banking institutions in the United States.
2. Financial stability: The company has a strong financial track record, with consistent profitability and a strong balance sheet. It has also been recognized as a top performer in the banking industry.
3. Geographic diversity: United Bankshares operates in both urban and rural areas across multiple states, giving it a diverse customer base and reducing its risk exposure.
4. Community-focused: The company has a strong commitment to its local communities and is actively involved in charitable giving and community development projects.
5. Strong leadership: United Bankshares has a stable and experienced management team, with many of its executives having been with the company for decades.
6. Customer service: The company prides itself on providing exceptional customer service, earning high marks in customer satisfaction surveys.
7. Embracing technology: Despite its long history, United Bankshares has embraced technology and innovation to enhance its services and improve the customer experience.
8. Diversified product offerings: In addition to traditional banking services, the company also offers insurance, wealth management, and mortgage services, providing a comprehensive financial solution for its customers.
9. Employee-focused: United Bankshares values its employees and has been recognized as a top workplace, providing competitive benefits and opportunities for professional growth and development.
10. Strong shareholder value: The company has consistently provided strong returns for its shareholders, with a track record of increasing dividends for 45 consecutive years.
What the company's business model?
The United Bankshares company's business model is primarily focused on providing banking and financial services to individuals, businesses, and organizations. This includes traditional banking services such as checking and savings accounts, loans, mortgages, and credit cards, as well as wealth management, investment, and insurance services. The company operates primarily in the Mid-Atlantic and Southern regions of the United States and has a community banking approach, emphasizing personalized customer service and local market knowledge. Its business model also includes a strong emphasis on building and maintaining relationships with its customers and supporting the communities it serves.
Interesting facts about the company
1. United Bankshares is the largest independent bank holding company in the mid-Atlantic region, serving customers in West Virginia, Virginia, Ohio, Maryland, and Washington D.C.
2. The company was founded in 1839 as a small community bank in Parkersburg, West Virginia. It was initially known as the Bank of the Ohio Valley.
3. United Bankshares has grown through a series of mergers and acquisitions, including the acquisition of several regional banks such as Centra Bank, Virginia Commerce Bank, and George Mason Bank.
4. The company has a strong commitment to community service and philanthropy. It has donated over $20 million to various charitable organizations and is a major supporter of education and healthcare initiatives in the communities it serves.
5. United Bankshares has been consistently recognized as one of the best banks in the country by publications such as Forbes, American Banker, and Bank Director magazine.
6. The company has over $19 billion in assets and over 150 full-service banking offices, making it one of the largest banking networks in the region.
7. United Bankshares has a diverse range of financial services, including commercial and consumer banking, mortgage banking, insurance, and wealth management.
8. In 2018, the company was named one of the Best Banks to Work For by American Banker, highlighting its employee-friendly culture and commitment to diversity and inclusion.
9. United Bankshares has been listed on the NASDAQ stock exchange since 1974 and has a strong track record of consistent financial performance and shareholder returns.
10. The company is committed to environmental sustainability and has implemented various initiatives to reduce its carbon footprint, such as using renewable energy sources and promoting environmentally friendly practices.
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