.
News Alert
Judge: Severance Must Return to Virginia

United Bankshares Acquires Virginia Commerce Bank

The acquisition will allow United Bankshares to expand its presence in the Washington, DC metro area.

West Virginia-based United Bankshares announced Wednesday it plans to merge with Arlington-based Virginia Commerce Bank.

"We are very excited about our merger with VCBI, which creates the leading independent community bank operating throughout the most attractive markets in Northern Virginia and Washington, DC," said United Chairman and CEO Richard Adams in a news release.

Virginia Commerce has 28 branches including storefronts in Alexandria's Old Town and Del Ray neighborhoods.

The deal is expected to close in the third quarter, reports The Washington Post. United currently has assets of $8.4 billion and with the acquisition it's assets will grow to $11.2 billion, reports Dailyfinance.com.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something