United Bankshares, Inc. to Acquire Piedmont Bancorp, Inc.
United Bankshares, Inc. (“United”) (NASDAQ: UBSI ), the parent company of United Bank, and Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank, today announced they have entered into a definitive merger agreement under which United will acquire Piedmont.
- United Bankshares, Inc. (“United”) (NASDAQ: UBSI ), the parent company of United Bank, and Piedmont Bancorp, Inc. (“Piedmont”), the parent company of The Piedmont Bank, today announced they have entered into a definitive merger agreement under which United will acquire Piedmont.
- Pursuant to the merger agreement, United will acquire 100% of the outstanding shares of Piedmont in exchange for common shares of United.
- “Piedmont is thrilled to join the United Bank family,” said Monty Watson, Chairman and CEO, The Piedmont Bank.
- Piedmont will merge into United, and The Piedmont Bank will merge into United Bank, with United and United Bank being the surviving entities.