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Press Release

United Bankshares Declares Second Quarter Dividend

Company Release - 5/12/2020 5:15 PM ET

WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: UBSI), today announced that its Board of Directors declared a second quarter dividend of $0.35 per share for shareholders of record as of June 12, 2020. The dividend is payable July 1, 2020.

The year of 2019 represented the 46th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record.

United, the parent company of United Bank, just recently announced the completion of its acquisition of Carolina Financial Corporation, the parent company of CresCom Bank, with $4.8 billion in assets, headquartered in Charleston, South Carolina. United now has $25 billion in assets, with 230 offices in West Virginia, Virginia, Ohio, Pennsylvania, Maryland, North Carolina, South Carolina, Georgia, and the nation’s capital.

United’s stock is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI".

www.ubsi-inc.com

W. Mark Tatterson
Chief Financial Officer
(800) 445-1347

Source: United Bankshares, Inc.