United Bankshares Buys Bank of Georgetown

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On Nov. 9, United Bankshares announced that it is buying the Bank of Georgetown, a privately-held bank headquartered in Georgetown, for an estimated $269 million, effectively creating the area’s largest community bank.

According the Washington Business Journal, the all-stock deal would grow United Bankshares, which owns United Bank and has headquarters in McLean and Charleston, West Virginia, to $5.4 billion in local deposits and $8.6 billion in local assets. The Bank of Georgetown brings $1.2 billion in assets to the table with 11 branches and 3 business development offices in the metro area. The bank was founded in 2005 by Mike Fitzgerald and the late Curt Windsor III.

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