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Home News Industries Banking/Finances United Bankshares completes acquisition of Cardinal Financial Corp.

United Bankshares completes acquisition of Cardinal Financial Corp.

Published April 24, 2017 by Robert Powell, III

United Bankshares Inc. has completed its acquisition of Tyson Corner-based Cardinal Financial Corp.

The deal, valued at $912 million when announced last year, is United’s tenth recent acquisition in the Washington, D.C., area. 

Cardinal had $4.3 billion in assets, boosting United’s total assets to more than $19 billion.

United has headquarters in Charleston, W.Va., and Washington, D.C.

With the addition of Cardinal’s 22 banking locations, United now has 145 full-service offices in Virginia, West Virginia, Pennsylvania, Maryland, Ohio and the District of Columbia.

United officials said the bank now ranks No. 1 in deposit market share among community banks in the Washington area.

As a result of the acquisition, Bernard H. Clineburg, Cardinal’s executive chairman, will join United’s board of directors.

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