United Bankshares acquires Piedmont Bancorp in a $267M all-stock deal, expanding its presence in the southeastern US.
United Bankshares has agreed to acquire Georgia-based Piedmont Bancorp in a $267M all-stock deal, expanding its presence in the southeastern US. The deal will strengthen United's position in the Mid-Atlantic and Southeast, with the combined company becoming the 39th largest banking company in the US by market capitalization. The deal is expected to close in late Q4 2024 or early Q1 2025, pending approval by shareholders and other closing conditions.
May 10, 2024
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