Business, Government Legal News from throughout WVUnited Bankshares reports increased earnings

United Bankshares reports increased earnings

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United Bankshares on Jan. 26 reported fourth-quarter net income of about $20.3 million, up from $19.3 million a year ago. The company also reported its full-year net income was $75.6 million, up from about $72 million in 2010.

The company's total assets increased from $7.1 billion at the end of 2010 to $8.45 billion at the end of 2011.

"Considering the current economic environment, United's earnings continue to be strong with asset quality favorable to peers," stated Richard M. Adams, United's chairman and CEO. "United also continues to be well-capitalized based upon regulatory guidelines."

United has 126 full service offices in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C.

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