8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
October 25, 2007

United Bankshares, Inc.

(Exact name of registrant as specified in its charter)

West Virginia	No. 0-13322	55-0641179
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

300 United Center
500 Virginia Street, East
Charleston, West Virginia 25301

(Address of Principal Executive Offices)

(304) 424-8800

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.02. Results of Operations and Financial Condition
	Item 9.01. Financial Statements and Exhibits
SIGNATURES
EX-99.1
EX-99.2

Item 2.02. Results of Operations and Financial Condition

     On October 25, 2007, United Bankshares, Inc. (“United”) announced its financial results for the third quarter and first nine months of 2007. A copy of the press release is attached as Exhibit 99.1 to this report. Additionally, United provided supplemental financial information for analysts and other interested investors, which is attached as Exhibit 99.2 to this report. The press release and supplemental financial information are being furnished under Item 2.02 of this Form 8-K.

Item 9.01. Financial Statements and Exhibits

(c) The following exhibits are being furnished herewith:

99.1	Press Release, dated October 25, 2007, issued by United Bankshares, Inc.
99.2	Unaudited Supplemental Financial Information

SIGNATURES

     Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	UNITED BANKSHARES, INC.
Date: October 25, 2007	By:	/s/ Steven E. Wilson
		Steven E. Wilson, Executive Vice President,
		Treasurer, Secretary and Chief Financial Officer

EX-99.1

EXHIBIT 99.1
News Release

For Immediate Release	Contact: Steven E. Wilson
October 25, 2007	Chief Financial Officer
	(800) 445-1347 ext. 8704

United Bankshares, Inc. Announces Earnings
for the Third Quarter and First Nine Months of 2007

     WASHINGTON, D.C. and CHARLESTON, WV — United Bankshares, Inc. (NASDAQ: UBSI), announced today earnings for the third quarter and first nine months of 2007. Third quarter earnings were $25.8 million or $0.60 per diluted share while earnings for the first nine months of 2007 were $74.7 million or $1.79 per diluted share.

     During the quarter, United completed its acquisition of Premier Community Bankshares, Inc. (Premier) with total assets of approximately $911 million based in Winchester, Virginia. The acquisition of Premier expands United’s presence in the Washington, D.C. Metropolitan Statistical Area (MSA) and allows United to enter new Virginia markets in the Winchester, Harrisonburg, Charlottesville and Staunton-Waynesboro MSAs. The financial results of Premier are included in United’s results from the July 14, 2007 acquisition date.

     Earnings for the third quarter of 2006 were $14.2 million or $0.34 per diluted share. These results included significant charges to prepay certain Federal Home Loan Bank (FHLB) long-term advances. The prepayment of these advances resulted in before-tax penalties of approximately $8.2 million. United also terminated interest rate swaps associated with these advances which resulted in a before-tax loss of approximately $7.7 million. Earnings for the first nine months of 2006 were $64.2 million or $1.53 per diluted share. In addition to the significant charges mentioned above incurred in the third quarter of 2006, the results for the first nine months of 2006 included the results of a repositioning of United’s balance sheet in the first quarter of 2006. The balance sheet repositioning resulted in a before-tax loss of $2.9 million on the sale of low-yielding fixed rate investment securities and a before-tax gain of $3.1 million on the termination of an interest rate swap associated with the prepayment of an FHLB advance.

     Tax-equivalent net interest income for the third quarter of 2007 was $63.3 million, an increase of $4.5 million or 8% from the third quarter of 2006. This increase in tax-equivalent net interest income was primarily attributable to a $672.1 million or 11% increase in average earning assets resulting primarily from the Premier acquisition. In addition, the average yield on earning assets for the third quarter of 2007 increased 20 basis points from the third quarter of 2006. Partially offsetting these increases to net interest income was a 26 basis point increase in the cost of funds from the third quarter of 2006. The net interest margin for the third quarter of 2007 was 3.75%, down 12 basis points from a net interest margin of 3.87% for the third quarter of 2006.

     Tax-equivalent net interest income for the first nine months of 2007 was $176.9 million, which was flat from the prior year’s first nine months. Average earning assets increased $148.4 million or 2% due mainly to the Premier acquisition. In addition, the average yield on earning assets for the first nine months of 2007 increased

United Bankshares, Inc. Announces...
October 25, 2007
Page Two

31 basis points from the first nine months of 2006 due to higher market interest rates. However, as a result of the higher interest rates, the average cost of funds for the first nine months of 2007 increased 41 basis points from the first nine months of 2006. The net interest margin for the first nine months of 2007 was 3.78%, down 9 basis points from a net interest margin of 3.87% during the same period last year.

     On a linked-quarter basis, United’s tax-equivalent net interest income for the third quarter of 2007 increased $6.4 million or 11% from the second quarter of 2007. This increase in tax-equivalent net interest income was due primarily to a $736.7 million or 12% increase in average earning assets resulting mainly from the Premier acquisition. In addition, the average yield on earning assets increased 11 basis points for the quarter. Partially offsetting these increases to net interest income was an 8 basis point increase in the cost of funds from the second quarter of 2007. The net interest margin for the third quarter of 2007 of 3.75% was a decrease of 5 basis points from the net interest margin of 3.80% for the second quarter of 2007.

     Noninterest income for the third quarter of 2007 was $17.3 million, an increase of $11.1 million from the third quarter of 2006. The increase was mainly due to a before-tax loss of approximately $7.7 million in the third quarter of 2006 on the termination of interest rate swaps associated with the prepayment of FHLB advances. Excluding the amounts associated with interest rate swap terminations and security transactions, noninterest income for the third quarter of 2007 would have increased $3.2 million or 22% from the third quarter of 2006. This increase primarily resulted from an increase in fees from deposit services of $1.7 million or 23% due mainly to the High Performance Checking program and the Premier acquisition. In addition, revenue from trust and brokerage services grew $598 thousand or 19% for the third quarter of 2007 due to increased volume. Fees from bankcard transactions increased $310 thousand or 22% for the third quarter of 2007 also due to increased volume.

     Noninterest income for the first nine months of 2007 was $48.8 million, an increase of $14.5 million from the first nine months of 2006. Included in total noninterest income for the first nine months of 2007 was a before-tax gain of $787 thousand on the termination of interest rate swaps associated with the prepayment of FHLB advances as compared to a before-tax loss of $4.6 million for the first nine months of 2006. In addition, United’s income from investment security transactions increased $3.6 million for the first nine months of 2007 as compared to the same period last year as United incurred a net loss on security transactions of $2.9 million in the first quarter of 2006 due to an other than temporary impairment on approximately $86 million of low-yielding, fixed rate investment securities which United subsequently sold as part of its balance sheet repositioning. Excluding the results of the interest rate swap terminations and investment security transactions, noninterest income for the first nine months of 2007 would have increased $5.5 million or 13% from the first nine months of 2006. Leading the way was an increase in fees from deposit services of $2.6 million or 12%. Revenue from trust and brokerage services for the first nine months of 2007 rose $1.2 million or 13% as compared to the first nine months of 2006. Income from bank-owned life insurance increased $680 thousand due to an increase in the cash surrender value. Fees from bankcard transactions increased $507 thousand or 13% for the first nine months of 2007.

     On a linked-quarter basis, noninterest income for the third quarter of 2007 increased $801 thousand from the second quarter of 2007. Included in the results from the second quarter of 2007 was the previously mentioned before-tax gain of $787 thousand on the termination of interest rate swaps associated with the prepayment of FHLB advances. Excluding the results of interest rate swap terminations and investment security

United Bankshares, Inc. Announces...
October 25, 2007
Page Three

transactions, noninterest income for the third quarter of 2007 would have increased $1.6 million or 10% from the second quarter of 2007, as deposit service fees increased $1.2 million or 15% and bankcard transaction fees increased $272 thousand or 19%.

     Noninterest expense for the third quarter of 2007 was $39.0 million, a decrease of $1.2 million from the third quarter of 2006. Included in the results for the third quarter of 2007 were expenses related to the Premier merger while the results for the third quarter of 2006 included penalties to prepay FHLB advances. Merger expenses and related integration costs of the Premier acquisition were $1.0 million for the third quarter of 2007. United incurred before-tax penalties of approximately $8.2 million to prepay FHLB advances during the third quarter of 2006. Otherwise, salaries and employee benefits expense increased $1.7 million, net occupancy expense increased $792 thousand and core deposit amortization increased $542 thousand due mainly to the Premier merger. Data processing expense increased $971 thousand due to the outsourcing of functions, a change in processing procedures as well as the Premier merger. Several other general operating expenses increased due primarily to the Premier merger, none of which were individually significant.

     Noninterest expense for the first nine months of 2007 was $103.0 million, a decrease of $1.6 million from the first nine months of 2006. Results for the first nine months of 2007 included expenses related to the Premier merger. Results for the first nine months of 2007 and 2006 both included penalties to prepay FHLB advances. Merger expenses and related integration costs of the Premier acquisition were $1.3 million for the first nine months of 2007. United incurred before-tax penalties of $786 thousand and $8.2 million to prepay FHLB advances during the first nine months of 2007 and 2006, respectively. Otherwise, net occupancy expense increased $935 thousand and core deposit amortization increased $337 thousand due primarily to the Premier merger. Data processing expense increased $2.0 million due to the outsourcing of functions, a change in processing procedures as well as the Premier merger. Additionally, business franchise taxes and loan collection expense each increased $513 thousand while bankcard and ATM processing expense increased $350 thousand and $320 thousand, respectively. Marketing and related costs associated with United’s High Performance Checking program declined $759 thousand in the first nine months of 2007 from the first nine months of 2006.

     On a linked-quarter basis, noninterest expense for the third quarter of 2007 increased $6.5 million from the second quarter of 2007 due mainly to the Premier merger. Accordingly, most major categories of noninterest expense showed increases. In particular, salaries and employee benefits expense increased $2.8 million, net occupancy expense increased $709 thousand, equipment expense increased $702 thousand, core deposit amortization increased $618 thousand and armored carrier expense increased $468 thousand mainly the result of the Premier merger. Merger expenses and related integration costs of the Premier acquisition were $1.0 million for the third quarter of 2007 as compared to $263 thousand for the second quarter of 2007. Included in noninterest expense for the second quarter of 2007 was a before-tax penalty of $786 thousand to prepay approximately $28.9 million of a $100 million long-term convertible FHLB advance.

     Income tax expense for the third quarter and first nine months of 2007 was $10.1 million and $32.9 million, respectively, as compared to $6.2 million and $29.9 million for the third quarter and first nine months of 2006, respectively. During the third quarter of 2007, United reduced its income tax reserve by $1.1 million due to the expiration of the statute of limitations for examinations of certain years. As a result, United’s effective tax rate was 28.06% and 30.55% for the third quarter and first nine months of 2007, respectively, as compared to 30.42% and 31.74% for the third quarter and first nine months of 2006, respectively.

United Bankshares, Inc. Announces...
October 25, 2007
Page Four

     At September 30, 2007, nonperforming loans were $22.8 million or 0.41% of loans, net of unearned income, up from nonperforming loans of $17.7 million or 0.37% of loans, net of unearned income at June 30, 2007 and $14.2 million or 0.30% of loans, net of unearned income at December 31, 2006, respectively. The increase was due largely to nonperforming loans of $5.6 million added from the Premier merger. Also, as previously reported, nonperforming loans increased from year-end 2006 due to the addition of certain residential real estate construction credits originated by a former United loan officer with an outstanding balance of $3.7 million being either 90-plus days delinquent or on nonaccrual status as of September 30, 2007. Charge-offs of $1.3 million and $3.0 million were recognized on these credits during the third quarter and first nine months of 2007, respectively, which were previously reported as impaired with specific allowances allocated in the company’s allowance for credit losses. Total nonperforming assets of $28.1 million, including OREO of $5.3 million at September 30, 2007, represented 0.37% of total assets which compares favorably to the most recently reported percentage of 0.45% for United’s peer group (bank holding companies with total assets between $5 and $10 billion).

     Net charge-offs were $1.8 million and $4.2 million for the third quarter and first nine months of 2007, respectively, as compared to $930 thousand and $1.5 million for the third quarter and first nine months of 2006. The increase in net charge-offs from last year’s third quarter and first nine months was due mainly to the charge-offs mentioned above of $1.3 million and $3.0 million for the third quarter and first nine months of 2007 related to certain residential real estate construction credits. Annualized net charge-offs as a percentage of average loans were 0.13% and 0.11% for the third quarter and first nine months of 2007, respectively. These ratios also compare favorably to United’s most recently reported peer group banking companies’ net charge-offs to average loans percentage of 0.18% for the quarter and 0.21% year-to-date. For the quarters ended September 30, 2007 and 2006, the provision for credit losses was $1.6 million and $571 thousand, respectively, while the provision for the first nine months of 2007 was $2.8 million as compared to $1.2 million for 2006. As of September 30, 2007, the allowances for loan losses and lending-related commitments totaled $58.6 million or 1.05% of loans, net of unearned income, as compared to $52.4 million or 1.09% of loans, net of unearned income at December 31, 2006.

     During the third quarter, United’s Board of Directors declared a cash dividend of $0.28 per share, which represented a 4% increase over the $0.27 per share dividend paid for the third quarter of 2006. Dividends per share of $0.84 for the first three quarters of 2007 also represented a 4% increase over the $0.81 per share paid for the first three quarters of 2006. The annualized first three quarters’ dividend of $0.84 per share equals $1.12 which would represent the thirty-fourth consecutive year of dividend increases for United shareholders.

     United has consolidated assets of approximately $7.7 billion with 114 full service offices in West Virginia, Virginia, Maryland, Ohio and Washington, D.C. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol “UBSI”.

This press release contains certain forward-looking statements, including certain plans, expectations, goals and projections, which are subject to numerous assumptions, risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of business strategies; the nature and extent of governmental actions and reforms; and rapidly changing technology and evolving banking industry standards.

UNITED BANKSHARES, INC. AND SUBSIDIARIES
FINANCIAL SUMMARY
(In Thousands Except for Per Share Data)

	Three Months Ended						Nine Months Ended
	September 30			September 30			September 30			September 30
	2007			2006			2007			2006
EARNINGS SUMMARY:
Interest income, taxable equivalent	$	121,519		$	106,326		$	331,940		$	309,884
Interest expense		58,197			47,506			155,039			132,947
Net interest income, taxable equivalent		63,322			58,820			176,901			176,937
Taxable equivalent adjustment		4,210			3,891			12,307			11,407
Net interest income		59,112			54,929			164,594			165,530
Provision for credit losses		1,550			571			2,750			1,169
Noninterest income		17,326			6,214			48,767			34,301
Noninterest expense		39,022			40,214			103,013			104,565
Income taxes		10,063			6,193			32,876			29,863
Net income		25,803			14,165			74,722			64,234
PER COMMON SHARE:
Net income:
Basic		0.60			0.34			1.80			1.54
Diluted		0.60			0.34			1.79			1.53
Cash dividends	$	0.28		$	0.27			0.84			0.81
Book value								17.49			15.40
Closing market price							$	30.44		$	37.22
Common shares outstanding:
Actual at period end, net of treasury shares								43,182,328			41,248,706
Weighted average- basic		42,731,909			41,373,945			41,458,388			41,658,678
Weighted average- diluted		42,998,484			41,775,111			41,811,493			42,075,862
FINANCIAL RATIOS:
Return on average assets		1.37	%		0.85	%		1.45	%		1.29	%
Return on average shareholders’ equity		13.91	%		8.83	%		14.81	%		13.38	%
Average equity to average assets		9.82	%		9.61	%		9.81	%		9.63	%
Net interest margin		3.75	%		3.87	%		3.78	%		3.87	%

	September 30		September 30		December 31		June 30
	2007		2006		2006		2007
PERIOD END BALANCES:
Assets	$	7,685,688	$	6,593,526	$	6,717,598	$	6,632,111
Earning assets		6,897,429		6,028,100		6,082,080		6,034,859
Loans, net of unearned income		5,586,326		4,750,204		4,806,747		4,812,831
Loans held for sale		954		3,510		2,041		2,701
Investment securities		1,323,269		1,288,009		1,275,470		1,219,836
Total deposits		5,346,226		4,750,555		4,828,192		4,706,991
Shareholders’ equity		755,269		635,333		634,092		639,165

EX-99.2

EXHIBIT 99.2

UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)

Consolidated Statements of Income

	Three Months Ended												Year to Date
	September			September			June			March			September			September
	2007			2006			2007			2007			2007			2006
Interest & Loan Fees Income	$	117,309		$	102,435		$	101,702		$	100,622		$	319,633		$	298,477
Tax Equivalent Adjustment		4,210			3,891			4,086			4,011			12,307			11,407
Interest & Fees Income (FTE)		121,519			106,326			105,788			104,633			331,940			309,884
Interest Expense		58,197			47,506			48,882			47,960			155,039			132,947
Net Interest Income (FTE)		63,322			58,820			56,906			56,673			176,901			176,937
Credit Loss Provision		1,550			571			850			350			2,750			1,169
Non-Interest Income:
Investment Securities Transactions		172			(134	)		165			157			494			(3,071	)
Fees from Trust & Brokerage Services		3,788			3,190			3,763			3,546			11,097			9,857
Fees from Deposit Services		9,087			7,367			7,869			7,178			24,134			21,575
Other Charges, Commissions, and Fees		2,285			1,785			1,791			1,693			5,769			5,202
Income from Bank Owned Life Insurance		1,179			1,181			1,327			1,459			3,965			3,285
Income from Mortgage Banking		124			236			162			161			447			615
(Loss) Gain on Termination of Interest Rate Swaps Associated with Prepayment of FHLB Advances		—			(7,659	)		787			—			787			(4,599	)
Other Non-Interest Revenue		691			248			661			722			2,074			1,437
Total Non-Interest Income		17,326			6,214			16,525			14,916			48,767			34,301
Non-Interest Expense:
Salaries and Employee Benefits		17,452			15,740			14,633			14,745			46,830			46,789
Net Occupancy		3,823			3,031			3,114			3,456			10,393			9,458
Other Expense		16,399			12,423			13,197			12,580			42,176			37,915
Prepayment Penalties on FHLB Advances		—			8,261			786			—			786			8,261
Amortization of Intangibles		1,000			459			383			407			1,790			1,453
OREO Expense		202			155			238			164			604			252
FDIC Expense		146			145			145			143			434			437
Total Non-Interest Expense		39,022			40,214			32,496			31,495			103,013			104,565
Income Before Income Taxes (FTE)		40,076			24,249			40,085			39,744			119,905			105,504
Tax Equivalent Adjustment		4,210			3,891			4,086			4,011			12,307			11,407
Income Before Income Taxes		35,866			20,358			35,999			35,733			107,598			94,097
Taxes		10,063			6,193			11,487			11,326			32,876			29,863
Net Income	$	25,803		$	14,165		$	24,512		$	24,407		$	74,722		$	64,234
MEMO: Effective Tax Rate		28.06	%		30.42	%		31.91	%		31.70	%		30.55	%		31.74	%

UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)

Consolidated Balance Sheets

	September 30			September 30
	2007			2006			September 30			December 31			September 30
	Q-T-D Average			Q-T-D Average			2007			2006			2006
Cash & Cash Equivalents	$	243,752		$	189,966		$	204,461		$	259,013		$	172,536
Securities Available for Sale		1,054,112			1,032,776			1,098,548			1,010,252			1,022,032
Held to Maturity Securities		161,971			214,566			158,252			212,296			214,237
Other Investment Securities		60,723			55,595			66,469			52,922			51,740
Total Securities		1,276,806			1,302,937			1,323,269			1,275,470			1,288,009
Total Cash and Securities		1,520,558			1,492,903			1,527,730			1,534,483			1,460,545
Loans Held for Sale		1,659			4,066			954			2,041			3,510
Commercial Loans		3,241,440			2,678,541			3,423,202			2,757,957			2,678,020
Mortgage Loans		1,817,068			1,728,433			1,783,319			1,694,922			1,718,778
Consumer Loans		383,813			364,429			386,724			360,829			359,875
Gross Loans		5,442,321			4,771,403			5,593,245			4,813,708			4,756,673
Unearned Income		(7,065	)		(6,634	)		(6,919	)		(6,961	)		(6,469	)
Loans, Net of Unearned Income		5,435,256			4,764,769			5,586,326			4,806,747			4,750,204
Allowance for Loan Losses		(49,088	)		(44,087	)		(50,353	)		(43,629	)		(43,801	)
Goodwill		292,076			167,421			312,857			167,421			167,421
Other Intangibles		16,702			3,317			11,955			2,640			3,074
Total Intangibles		308,778			170,738			324,812			170,061			170,495
Real Estate Owned		4,519			2,601			5,338			4,231			2,517
Other Assets		275,283			235,058			290,881			243,664			250,056
Total Assets	$	7,496,965		$	6,626,048		$	7,685,688		$	6,717,598		$	6,593,526
MEMO: Earning Assets	$	6,737,658		$	6,065,547		$	6,897,429		$	6,082,080		$	6,028,100
Interest-bearing Deposits	$	4,391,017		$	3,897,572		$	4,471,530		$	3,924,985		$	3,930,774
Noninterest-bearing Deposits		876,034			852,850			874,696			903,207			819,781
Total Deposits		5,267,051			4,750,422			5,346,226			4,828,192			4,750,555
Short-term Borrowings		712,609			680,201			730,618			682,266			642,249
Long-term Borrowings		714,870			497,516			775,131			499,200			502,498
Total Borrowings		1,427,479			1,177,717			1,505,749			1,181,466			1,144,747
Other Liabilities		66,534			61,216			78,444			73,848			62,891
Total Liabilities		6,761,064			5,989,355			6,930,419			6,083,506			5,958,193
Common Equity		735,901			636,693			755,269			634,092			635,333
Total Shareholders’ Equity		735,901			636,693			755,269			634,092			635,333
Total Liabilities & Equity	$	7,496,965		$	6,626,048		$	7,685,688		$	6,717,598		$	6,593,526

UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)

	Three Months Ended									Year to Date
	September		September			June		March		September		September
Quarterly/Year-to-Date Share Data:	2007		2006			2007		2007		2007		2006
Earnings Per Share:
Basic	$	0.60	$	0.34		$	0.60	$	0.60	$	1.80	$	1.54
Diluted	$	0.60	$	0.34		$	0.60	$	0.59	$	1.79	$	1.53
Common Dividend Declared Per Share:	$	0.28	$	0.27		$	0.28	$	0.28	$	0.84	$	0.81
High Common Stock Price	$	32.98	$	38.28		$	35.37	$	39.50	$	39.50	$	38.50
Low Common Stock Price	$	25.70	$	34.21		$	30.88	$	33.60	$	25.70	$	34.21
Average Shares Outstanding (Net of Treasury Stock):
Basic		42,731,909		41,373,945			40,677,396		40,946,236		41,458,388		41,658,678
Diluted		42,998,484		41,775,111			40,935,684		41,272,213		41,811,493		42,075,862
Memorandum Items:
Tax Applicable to Security Transactions	$	60	$	(47	)	$	58	$	55	$	173	$	(1,075	)
Common Dividends	$	12,089	$	11,158		$	11,368	$	11,452	$	34,909	$	33,701

	September		September		June		March
EOP Share Data:	2007		2006		2007		2007
Book Value Per Share	$	17.49	$	15.40	$	15.77	$	15.65
Tangible Book Value Per Share	$	9.97	$	11.27	$	11.60	$	11.49
52-week High Common Stock Price	$	39.71	$	38.55	$	39.71	$	39.71
Date		12/28/06		12/02/05		12/28/06		12/28/06
52-week Low Common Stock Price	$	25.70	$	32.34	$	30.88	$	33.60
Date		08/06/07		10/12/05		06/26/07		03/14/07
EOP Shares Outstanding (Net of Treasury Stock):		43,182,328		41,248,706		40,523,267		40,823,168
Memorandum Items:
EOP Employees (full-time equivalent)		1,543		1,375		1,310		1,327

UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)

	Three Months Ended												Year to Date
	September			September			June			March			September			September
	2007			2006			2007			2007			2007			2006
Selected Yields and Net Interest Margin:
Loans		7.54	%		7.31	%		7.44	%		7.41	%		7.47	%		7.14	%
Investment Securities		5.76	%		5.79	%		5.72	%		5.65	%		5.71	%		5.64	%
Money Market Investments/FFS		4.76	%		5.41	%		5.27	%		5.62	%		5.11	%		4.14	%
Average Earning Assets Yield		7.17	%		6.97	%		7.06	%		7.03	%		7.10	%		6.79	%
Interest-bearing Deposits		3.63	%		3.29	%		3.55	%		3.49	%		3.56	%		2.99	%
Short-term Borrowings		4.58	%		4.17	%		4.43	%		4.48	%		4.50	%		3.96	%
Long-term Borrowings		5.44	%		6.42	%		5.77	%		5.84	%		5.65	%		6.55	%
Average Liability Costs		3.97	%		3.71	%		3.89	%		3.86	%		3.91	%		3.50	%
Net Interest Spread		3.20	%		3.26	%		3.17	%		3.17	%		3.19	%		3.29	%
Net Interest Margin		3.75	%		3.87	%		3.80	%		3.79	%		3.78	%		3.87	%
Selected Financial Ratios:
Return on Average Common Equity		13.91	%		8.83	%		15.22	%		15.44	%		14.81	%		13.38	%
Return on Average Assets		1.37	%		0.85	%		1.50	%		1.51	%		1.45	%		1.29	%
Efficiency Ratio		47.00	%		60.77	%		43.51	%		43.20	%		44.68	%		48.00	%

	September			September			June			March
	2007			2006			2007			2007
Loan / Deposit Ratio		104.49	%		99.99	%		102.25	%		99.47	%
Allowance for Loan Losses/ Loans, Net of Unearned Income		0.90	%		0.92	%		0.90	%		0.93	%
Allowance for Credit Losses (1)/ Loans, Net of Unearned Income		1.05	%		1.11	%		1.06	%		1.11	%
Nonaccrual Loans / Loans, Net of Unearned Income		0.16	%		0.13	%		0.16	%		0.13	%
90-Day Past Due Loans/ Loans, Net of Unearned Income		0.25	%		0.15	%		0.21	%		0.11	%
Non-performing Loans/ Loans, Net of Unearned Income		0.41	%		0.29	%		0.37	%		0.24	%
Non-performing Assets/ Total Assets		0.37	%		0.24	%		0.33	%		0.24	%
Primary Capital Ratio		10.51	%		10.35	%		10.33	%		10.43	%
Shareholders’ Equity Ratio		9.83	%		9.64	%		9.64	%		9.72	%
Price / Book Ratio		1.74	x		2.42	x		2.02	x		2.24	x
Price / Earnings Ratio		12.68	x		27.44	x		13.28	x		14.81	x

UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)

	September		September		December		June		March
Asset Quality Data:	2007		2006		2006		2007		2007
EOP Non-Accrual Loans	$	8,958	$	6,357	$	5,755	$	7,842	$	6,068
EOP 90-Day Past Due Loans		13,827		7,272		8,432		9,869		5,416
Total EOP Non-performing Loans	$	22,785	$	13,629	$	14,187	$	17,711	$	11,484
EOP Other Real Estate & Assets Owned		5,338		2,517		4,231		4,074		3,991
Total EOP Non-performing Assets	$	28,123	$	16,146	$	18,418	$	21,785	$	15,475

	Three Months Ended												Year to Date
	September			September			June			March			September			September
Allowance for Credit Losses:(1)	2007			2006			2007			2007			2007			2006
Beginning Balance	$	51,220		$	52,895		$	52,385		$	52,371		$	52,371		$	52,871
Allowance for Acquired Loans		7,648			—			—			—			7,648			—
Provision Expense		1,550			571			850			350			2,750			1,169
		60,418			53,466			53,235			52,721			62,769			54,040
Gross Charge-offs		(2,104	)		(1,168	)		(2,231	)		(617	)		(4,952	)		(2,482	)
Recoveries		303			238			216			281			800			978
Net Charge-offs		(1,801	)		(930	)		(2,015	)		(336	)		(4,152	)		(1,504	)
Ending Balance	$	58,617		$	52,536		$	51,220		$	52,385		$	58,617		$	52,536

Note: (1)   Includes allowances for loan losses and lending-related commitments.