United Bankshares completes acquisition of Community Bankers Trust; adds $1.7B assets

UNITED BANKSHARES INC/WV

Deal closed Dec 3, 2021; ESXB shareholders received 0.3173 UBSI shares per share.
United now has ~$29B assets and ~250 offices across 9 states.
Former Community Bankers Trust CEO Rex L. Smith III retained as Regional President for former Essex Bank locations.
United assumed $4.124M Floating Rate Junior Subordinated Debentures due 2033.
Transaction adds $1.7B in assets from Essex Bank; strengthens Mid-Atlantic and SE presence.

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