United Bankshares, Inc., a $6.7 billion regional banking company with headquarters at 1275 Pennsylvania Avenue, Washington, D.C., held its Annual Meeting of Shareholders today. Initiating the meeting was Richard M. Adams, Chairman and Chief Executive Officer.

During the business portion of the meeting, it was announced that the following directors were elected by the Shareholders to serve on the Board of Directors until the next Annual Meeting in 2008: Richard M. Adams, Chairman and Chief Executive Officer; Robert G. Astorg, Managing Principal, H&R Block Tax and Business Service; Thomas J. Blair, III, Consulting Engineer; W. Gaston Caperton, III, President, The College Board, New York, NY, President, Caperton Group, and Former Governor, State of West Virginia; Lawrence K. Doll, President, The Lawrence Doll Co., President, Lawrence Doll Homes, LLC; Theodore J. Georgelas, Commercial Real Estate Developer and Managing Director, Georgelas Group LLC; F. T. Graff, Jr., Attorney-at-Law, Partner, Bowles, Rice, McDavid, Graff & Love; Russell L. Isaacs, Owner, Russell L. Isaacs and Company; John M. McMahon, Chairman, Miller & Long Co., Inc.; J. Paul McNamara, Former Vice Chairman, United Bank; G. Ogden Nutting, Chairman, The Ogden Newspapers, Inc.; William C. Pitt, III, Hotel and Resort Developer; I. N. Smith, Jr., former President, UBSI; Mary K. Weddle, CPA and Executive Vice President, Long & Foster Real Estate, Inc.; and P. Clinton Winter, Jr., President, Bray and Oakley Insurance Agency. The shareholders also approved the appointment of Ernst & Young as the company's auditors for the fiscal year 2007.

Mr. Adams then presented the performance highlights of the company for 2006. He stated, "2006 was a successful year for our Company. The dividend to shareholders increased for the 33rd consecutive year - a record few companies in any business have been able to achieve. Our share price increased from $35.24 at year-end 2005, to $38.65 at year-end 2006 or 10%. Over a ten-year period, United stock has increased 134% compared to the S&P 500 of 91%. If you had invested $100,000 in UBSI in 1990 when we first entered the Washington, DC Metro market, your investment at year-end 2006 would have been worth $1.123 million including dividend appreciation."

He continued, "In the 4th quarter 2006 publication of Bank Director Magazine, United ranked in the top 25 financial performers in the USA. Of the 150 largest US banking companies, UBSI was ranked 22nd based upon profitability, capital adequacy, and asset quality. United outranked such well known banking companies as Wells Fargo, BB&T, Fifth Third, Bank of America, Wachovia, and SunTrust."

Adams reported that on January 29, 2007, United announced the 27th acquisition during the current administration - Premier Community Bankshares with $900 million in assets and primary Virginia markets of Winchester, Harrisonburg, and Charlottesville, as well as Metro-DC, makes United Bank-VA the 2nd largest headquartered Virginia bank. It is also the 2nd largest independent banking franchise in the nation's capital MSA. The Washington, DC metro market is the highest per capita income metropolitan area in the USA.

Adams additionally stated, "While the environment for the banking industry is extremely challenging in 2007 and bank stocks are out of favor with most institutional investors, United is well positioned for the future."

United Bankshares, with 90 full-service offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C., is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI."