United Bankshares in Charleston. W. Va., is selling stock to support growth at its bank.
The $14.3 billion-asset company said in a press release Thursday that it will sell about 4.3 million shares of common stock. Based on the company's $48.35 closing stock price Thursday, the offering could fetch up to $209.3 million.
United said it plans to use the net proceeds to provide capital support and growth for its United Bank, among other things.
J.P. Morgan Securities was the book-running manager for the offering.
