UBSI - Mergers and acquisitions

During its Annual Meeting of Shareholders held Wednesday, May 11, 2022, United Bankshares, Inc. ("United") (NASDAQ:UBSI), a $29.4 billion regional financial services company, elected two new directors to its board of directors – Diana Lewis Jackson and Lacy I. Rice, III. In addition, Richard M. Adams, Jr., United Bankshares' new Chief Executive Officer, was also newly elected to the Board. Jackson founded and currently serves as President and CEO of Action Facilities Management, Inc. ("AFM"), a premier government and commercial contract firm specializing in building integrated facilities maintenance, janitorial/sanitation, administrative and security services, in Morgantown, West Virginia.

United Bankshares, Inc. (NASDAQ:UBSI) ("United"), today reported earnings for the fourth quarter and the year of 2021. Earnings for the fourth quarter of 2021 were $73.9 million, or $0.56 per diluted share, as compared to earnings of $92.4 million, or $0.71 per diluted share, for the fourth quarter of 2020. Earnings for the year of 2021 were a record $367.7 million as compared to earnings of $289.0 million for the year of 2020. Earnings per diluted share for the year of 2021 were a record $2.83 as compared to earnings per diluted share of $2.40 for the year of 2020. Fourth quarter 2021 results produced annualized returns on average assets, average equity and average tangible equity, a non-