Thursday, December 16, 2010
United Bankshares To Merge With Centra Financial Holdings
WEST VIRGINIA....
United Bank’s parent company is buying privately held bank Centra Financial Holdings for $186.9 million. United Bankshares has signed a definitive merger agreement with Morgantown-based Centra Financial Holdings. Centra has 8.4 million shares of stock and 1.2 million options. The deal puts United in charge of Centra, its $1.4 billion in assets and its locations in Morgantown, Martinsburg, Hagerstown, Maryland and Uniontown, Pennsylvania. United has $7.6 billion in assets and 112 branches in Ohio, West Virginia, Virginia, Maryland, and Washington, D.C. The deal is expected to close in the third quarter of next year.
United Bank’s parent company is buying privately held bank Centra Financial Holdings for $186.9 million. United Bankshares has signed a definitive merger agreement with Morgantown-based Centra Financial Holdings. Centra has 8.4 million shares of stock and 1.2 million options. The deal puts United in charge of Centra, its $1.4 billion in assets and its locations in Morgantown, Martinsburg, Hagerstown, Maryland and Uniontown, Pennsylvania. United has $7.6 billion in assets and 112 branches in Ohio, West Virginia, Virginia, Maryland, and Washington, D.C. The deal is expected to close in the third quarter of next year.
# posted by Homer Owens @ 9:45 PM 
