Transaction Complete! United Bankshares Inc. finalizes acquisition of Piedmont Bancorp Inc. | News, Sports, Jobs

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CHARLESTON — United Bankshares Inc., parent company of United Bank, announced this week the completion of its acquisition of Atlanta-based Piedmont Bancorp Inc., parent company of The Piedmont Bank.

“We are thrilled to have Piedmont join the United family,” said Richard M. Adams Jr., CEO of United Bankshares Inc. “This transaction allows us to grow our presence in one of the most desirable banking markets in the nation. We look forward to serving the employees, customers and communities in our new footprint.”

The acquisition is United’s 34th , and the combined organization has more than $32 billion in assets and a network of over 240 locations across Georgia, South Carolina, North Carolina, Virginia, Maryland, West Virginia, Ohio, Pennsylvania and Washington, D.C.

The former Piedmont offices will operate under the DBA United Bankshares.

“We are excited to become a part of United,” said Monty Watson, former chairman and CEO of Piedmont. “Our organizations’ similar cultures and values will greatly benefit our customers, employees and shareholders. This merger will allow us to meet the evolving needs of customers in our communities while preserving our focus on relationship-based banking and local decision-making.”

Watson will serve as regional president responsible for the former Piedmont locations.

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