United Bankshares, Inc. (NASDAQ: UBSI), a $7.2 billion regional banking company with dual headquarters in Charleston, WV and Washington, DC, held its Annual Meeting of Shareholders today at The Blennerhassett Hotel in Parkersburg, WV.
During the meeting, it was announced that the following directors were elected by the Shareholders to serve on the Board of Directors until the next Annual Meeting in 2012: Richard M. Adams, Chairman and Chief Executive Officer; Robert G. Astorg, CPA and Managing Principal of H&R Block Tax and Business Services; W. Gaston Caperton, III, President of The College Board, Chairman of the Caperton Group, and Former Governor of the State of West Virginia; Lawrence K. Doll, President of The Lawrence Doll Co. and Lawrence Doll Homes, LLC; Theodore J. Georgelas, Managing Director of the Georgelas Group, LLC; F. T. Graff, Jr., Attorney and Partner of Bowles Rice McDavid Graff & Love LLP; John M. McMahon, Chairman, Miller & Long Co., Inc.; J. Paul McNamara, Chairman, Potomac Capital Advisors; William C. Pitt, III, Hotel and Resort Developer; Donald L. Unger, Former President and Chief Executive Officer of the Shenandoah Valley region of United Bank; Mary K. Weddle, CPA and Executive Vice President of Long & Foster Real Estate, Inc.; Gary G. White, President and Chief Executive Officer, International Resource Partners LP; and P. Clinton Winter, Jr., President of Bray & Oakley Insurance Agency.
Mr. Adams then presented the performance highlights of the company for 2010. He stated, "2010 was a very good year for United Bankshares. In a difficult economy and continued challenging times for financial institutions, United increased earnings, increased the stock price by 46%, and increased the dividend to shareholders for the 37 th consecutive year. Only one other major banking company in the USA has achieved such a record."
Another great positive about United is its franchise value. United Bankshares continues to be the largest West Virginia-headquartered banking company, as well as the largest independent banking franchise remaining in the nation's capital metropolitan statistical area.