United Bankshares To Acquire Liberty
CHARLESTON, W.Va. -- United Bankshares Inc. said it has agreed to acquire Liberty Bankshares, setting the stage for a presence in southern West Virginia.
United has $1.2 billion in assets, and its lead bank is United National of Parkersburg. Liberty, based in Montgomery, has two banks with a total of $96 million in assets.
Under proposed terms, Liberty stockholders would exchange each of their shares for 1.8 shares of United. The merger is subject to a definitive agreement and approvals by regulators and Liberty shareholders.