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Deal Overview

Buyer:
United Bankshares, Inc.
Actual Acquirer:
United Bankshares, Inc.
Target:
First National Bank of Weirton
Deal Type:
Bank & Thrift Company
Agreement Date:
1/30/1990
Announcement Date:
1/30/1990
Announced Deal Value ($ M):
4.00
Status:
Completed
Completion Date:
8/31/1990
Announced Deal Value Per Share ($ )
33.80

Consideration Breakout
Common Stock ($M) 3.4
Common Stock Issued 310,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 129.9 105.7
Price / Tangible Book (%) 129.9 105.7
Price / Earnings (x) 21.1 12.0
Price / Deposits (%) 10.37 9.00
Price / Assets (%) 9.11 7.89
Tangible Book Premium/ Deposits (%) 2.52 0.50
Deal Terms
Description of Consideration

First National shareholders received 2.6 shares of United Bankshares common for each share held.

Accounting Method NA
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? NA
Goodwill Generated ($ 000) NA
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) NA
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 2.600000
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) NA