Finance News (Photo Illustration/MetroCreative)

BETHESDA, Md. — United Bankshares Inc. recently held its Annual Meeting of Shareholders at Congressional Country Club in Bethesda.

During the meeting, United Executive Chairman of the Board Richard M. Adams highlighted several key points from the 2023 Annual Report to Shareholders, emphasizing the company’s growth, profitability, and soundness.

With the continuous growth of loans and deposits, United also achieved high capital levels and reduced non-performing assets. Additionally, the company was recognized for its strong financial performance and dividend consistency by increasing dividends for the 50th consecutive year.

Furthermore, in 2023, Newsweek named United the Most Trustworthy Bank in the nation, showcasing the company’s commitment to excellence.

Despite challenges faced by the banking industry in 2023, United’s financial performance remains solid. Raymond James’ Research Report acknowledged UBSI’s strong first quarter results in a challenging environment.

Looking ahead to 2024, United is projected to increase dividends for the 51st consecutive year and recently announced the acquisition of Piedmont Bancorp.

Adams also emphasized United’s dedication to communities, highlighting the contributions and service provided by team members.

At the Annual Meeting, directors were elected to serve on the Board until the 2025 Annual Meeting, ensuring continued leadership and oversight.

Shareholders also approved key actions, including the selection of Ernst & Young LLP as the independent registered public accounting firm for 2024.

United Bankshares Inc. and its subsidiary, United Bank, maintain a strong presence across multiple states, serving customers with over 225 offices.