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):
January 24, 2008

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

EX-99.1

EX-99.2

Item 2.02. Results of Operations and Financial Condition

     On January 24, 2008, United Bankshares, Inc. (“United”) announced its earnings for the fourth quarter and year 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 January 24, 2008, 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: January 24, 2008	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
January 24, 2008	Chief Financial Officer
	(800) 445-1347 ext. 8704

United Bankshares, Inc. Announces Earnings
for the Fourth Quarter and Year of 2007

     WASHINGTON, D.C. and CHARLESTON, WV — United Bankshares, Inc. (NASDAQ: UBSI), announced today earnings for the fourth quarter and year of 2007. Fourth quarter earnings were $16.0 million or $0.37 per diluted share while earnings for the year 2007 were $90.7 million or $2.15 per diluted share. The results for the fourth quarter and year of 2007 included significant charges to prepay certain long-term debt while the results for the year included charges related to the Premier Community Bankshares, Inc. (Premier) acquisition.

     During the fourth quarter of 2007, United prepaid certain Federal Home Loan Bank (FHLB) long-term advances in the amount of $380.0 million and terminated an interest rate swap associated with one of the advances. The prepayment of the FHLB advances resulted in before-tax penalties of approximately $4.3 million. The termination of the interest rate swap resulted in a before-tax loss of approximately $8.9 million. During the third quarter of 2007, United completed its acquisition of Premier based in Winchester, Virginia. Merger expenses and related integration costs of the Premier acquisition were $1.5 million for the year of 2007.

     Earnings for the fourth quarter of 2006 were $25.0 million or $0.60 per diluted share while earnings for the year of 2006 were $89.2 million or $2.13 per diluted share. The results for the year of 2006 included charges of $12.9 million to prepay certain FHLB long-term advances and terminate associated interest rate swaps. The results for 2006 also included a net loss of $3.2 million on investment securities transactions mainly the result of a balance sheet repositioning.

     Tax-equivalent net interest income for the fourth quarter of 2007 was $65.0 million, an increase of $6.9 million or 12% from the fourth quarter of 2006. This increase in tax-equivalent net interest income was primarily attributable to a $960.1 million or 16% increase in average earning assets resulting primarily from the Premier acquisition. The average yield on earning assets for the fourth quarter of 2007 was flat from the fourth quarter of 2006 while the average cost of funds increased 3 basis points. The net interest margin for the fourth quarter of 2007 was 3.71%, down 14 basis points from a net interest margin of 3.85% for the fourth quarter of 2006.

     Tax-equivalent net interest income for the year of 2007 was $241.9 million, which was an increase of $6.9 million or 3% from the prior year. Average earning assets increased $353.0 million or 6% due mainly to the Premier acquisition. In addition, the average yield on earning assets for the year of 2007 increased 23 basis points from the year of 2006 due to higher market interest rates during the first three quarters of 2007. However, as a result of these higher market interest rates, the average cost of funds for the year of 2007 increased 31 basis points from

United Bankshares, Inc. Announces...
January 24, 2008
Page Two

the year of 2006. The net interest margin for the year of 2007 was 3.76%, down 10 basis points from a net interest margin of 3.86% during last year.

     On a linked-quarter basis, United’s tax-equivalent net interest income for the fourth quarter of 2007 increased $1.7 million or 3% from the third quarter of 2007. This increase in tax-equivalent net interest income was due primarily to an increase of $243.8 million or 4% in average earning assets and a 16 basis point decrease in the average cost of funds due to lower market interest rates as a result of the Federal Reserve lowering borrowing rates and United prepaying FHLB advances as mentioned earlier. Partially offsetting these increases to net interest income was a 15 basis point decrease in the yield on average earning assets from the third quarter of 2007 due to the lower interest rates. The net interest margin for the fourth quarter of 2007 of 3.71% was a decrease of 4 basis points from the net interest margin of 3.75% for the third quarter of 2007.

     Noninterest income for the fourth quarter of 2007 was $9.0 million, a decrease of $5.8 million from the fourth quarter of 2006. The decrease was mainly due to a before-tax loss of approximately $8.9 million during the quarter on the termination of an interest rate swap associated with the prepayment of a FHLB advance. Excluding the amounts associated with the interest rate swap termination and security transactions, noninterest income for the fourth quarter of 2007 would have increased $3.6 million or 24% from the fourth quarter of 2006. This increase primarily resulted from an increase in fees from deposit services of $2.2 million or 29% due mainly to the High Performance Checking program and the Premier acquisition. In addition, revenue from trust and brokerage services grew $1.2 million or 40% for the fourth quarter of 2007 due to increased volume.

     Noninterest income for the year of 2007 was $57.7 million, an increase of $8.7 million from the year of 2006. Included in total noninterest income for the year of 2007 was a before-tax loss of $8.1 million 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 year of 2006. In addition, United’s income from investment security transactions increased $3.1 million for the year of 2007 as compared to 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. Excluding the results of the interest rate swap terminations and investment security transactions, noninterest income for the year of 2007 would have increased $9.1 million or 16% from the year of 2006. Leading the way was an increase in fees from deposit services of $4.8 million or 16%. Revenue from trust and brokerage services for the year of 2007 rose $2.5 million or 19% as compared to the year of 2006. Income from bank-owned life insurance increased $967 thousand due to an increase in the cash surrender value. Fees from bankcard transactions increased $712 thousand or 13% for the year of 2007.

     On a linked-quarter basis, noninterest income for the fourth quarter of 2007 decreased $8.3 million from the third quarter of 2007. Included in the results for the fourth quarter of 2007 was the previously mentioned before-tax loss of $8.9 million on the termination of an interest rate swap associated with the prepayment of a FHLB advance. Excluding the results of the interest rate swap termination and investment security transactions, noninterest income for the fourth quarter of 2007 would have increased $1.3 million or 8% from the third quarter of 2007 as deposit service fees increased $614 thousand or 7% and revenue from trust and brokerage services increased $529 thousand or 14%.

United Bankshares, Inc. Announces...
January 24, 2008
Page Three

     Noninterest expense for the fourth quarter of 2007 was $44.9 million, an increase of $12.3 million from the fourth quarter of 2006. Included in the results for the fourth quarter of 2007 were before-tax penalties of approximately $4.3 million to prepay FHLB advances. Excluding the prepayment penalties on FHLB advances, noninterest expense would have increased $8.0 million or 25% as salaries and employee benefits expense increased $2.4 million, net occupancy expense increased $939 thousand and core deposits amortization increased $644 thousand due mainly to the Premier merger. Data processing expense increased $611 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 year of 2007 was $147.9 million, an increase of $10.8 million from the year of 2006. Results for the year of 2007 included merger expenses and related integration costs of the Premier acquisition of $1.5 million. Results for the year of 2007 and 2006 both included penalties to prepay FHLB advances. United incurred before-tax penalties of $5.1 million and $8.2 million to prepay FHLB advances during the year of 2007 and 2006, respectively. In addition, salaries and employee benefits expense increased $2.5 million, net occupancy expense increased $1.9 million and core deposits amortization increased $981 thousand due primarily to the Premier merger. Data processing expense increased $2.6 million due to the outsourcing of functions, a change in processing procedures as well as the Premier merger. Additionally, business franchise taxes increased $689 thousand and loan collection expense increased $676 thousand. Marketing and related costs associated with United’s High Performance Checking program declined $619 thousand in the year of 2007 from the year of 2006.

     On a linked-quarter basis, noninterest expense for the fourth quarter of 2007 increased $5.9 million from the third quarter of 2007 due mainly to the previously mentioned before-tax penalties of $4.3 million to prepay FHLB advances during the fourth quarter. Included in the results for the third quarter were merger expenses and related integration costs of the Premier acquisition of $1.0 million as compared to $141 thousand for the fourth quarter of 2007. Otherwise, salaries and employee benefits expense increased $513 thousand or 3%. Several other general operating expenses increased, none of which were individually significant.

     At December 31, 2007, nonperforming loans were $28.3 million or 0.49% of loans, net of unearned income, up from nonperforming loans of $22.8 million or 0.41% of loans, net of unearned income at September 30, 2007 and nonperforming loans of $14.2 million or 0.30% of loans, net of unearned income at December 31, 2006, respectively. The increase for the quarter was due mainly to $4.7 million of loans to four customers being placed on nonaccrual status as of December 31, 2007. The increase from year-end 2006 was due largely to nonperforming loans of $7.3 million added from the former Premier offices, the addition of the nonaccrual loans mentioned above as well as the addition of certain residential real estate construction credits originated by a former United loan officer with an outstanding balance of $2.1 million being either 90-plus days delinquent or on nonaccrual status as of December 31, 2007. Charge-offs of $215 thousand and $3.2 million were recognized on these credits during the fourth quarter and year 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 $34.7 million, including OREO of $6.4 million at December 31, 2007, represented 0.43% of total assets which compares favorably to the most recently reported percentage of 0.54% for United’s peer group (bank holding companies with total assets between $5 and $10 billion).

United Bankshares, Inc. Announces...
January 24, 2008
Page Four

     Net charge-offs were $2.5 million and $6.6 million for the fourth quarter and year of 2007, respectively, as compared to $433 thousand and $1.9 million for the fourth quarter and year of 2006. The increase in net charge-offs for the fourth quarter and year of 2007 was due mainly to the previously mentioned charge-offs of $215 thousand and $3.2 million related to certain residential real estate construction credits as well as charge-offs of $944 thousand to one mortgage customer. Annualized net charge-offs as a percentage of average loans were 0.17% and 0.13% for the fourth quarter and year 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 0.21% for the quarter and 0.23% year-to-date. For the quarters ended December 31, 2007 and 2006, the provision for credit losses was $2.6 million and $268 thousand, respectively, while the provision for the year of 2007 was $5.3 million as compared to $1.4 million for 2006. As of December 31, 2007, the allowances for loan losses and lending-related commitments totaled $58.7 million or 1.01% 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 fourth quarter, United’s Board of Directors declared a cash dividend of $0.29 per share, which represented a 4% increase over the $0.28 per share dividend paid for the fourth quarter of 2006. Dividends per share of $1.13 for the year of 2007 also represented a 4% increase over the $1.09 per share paid for the year of 2006. The year of 2007 represented the thirty-fourth consecutive year of dividend increases for United shareholders.

     United has consolidated assets of approximately $8.0 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						Year Ended
	December 31			December 31			December 31			December 31
	2007			2006			2007			2006
EARNINGS SUMMARY:
Interest income, taxable equivalent	$	123,261		$	106,249		$	455,201		$	416,135
Interest expense		58,271			48,143			213,310			181,090
Net interest income, taxable equivalent		64,990			58,106			241,891			235,045
Taxable equivalent adjustment		4,165			4,043			16,472			15,452
Net interest income		60,825			54,063			225,419			219,593
Provision for credit losses		2,580			268			5,330			1,437
Noninterest income		8,982			14,732			57,749			49,033
Noninterest expense		44,916			32,608			147,929			137,173
Income taxes		6,359			10,904			39,235			40,767
Net income		15,952			25,015			90,674			89,249
PER COMMON SHARE:
Net income:
Basic		0.37			0.61			2.16			2.15
Diluted		0.37			0.60			2.15			2.13
Cash dividends	$	0.29		$	0.28			1.13			1.09
Book value								17.61			15.44
Closing market price							$	28.02		$	38.65
Common shares outstanding:
Actual at period end, net of treasury shares								43,234,726			41,058,901
Weighted average- basic		43,216,077			41,156,578			41,901,422			41,532,121
Weighted average- diluted		43,438,997			41,557,831			42,222,899			41,942,889
FINANCIAL RATIOS:
Return on average assets		0.81	%		1.51	%		1.28	%		1.34	%
Return on average shareholders’ equity		8.25	%		15.44	%		12.99	%		13.90	%
Average equity to average assets		9.87	%		9.77	%		9.83	%		9.67	%
Net interest margin		3.71	%		3.85	%		3.76	%		3.86	%

	December 31		December 31		December 31		September 30
	2007		2006		2005		2007
PERIOD END BALANCES:
Assets	$	7,994,739	$	6,717,598	$	6,728,492	$	7,685,688
Earning assets		7,158,532		6,082,080		6,129,969		6,897,429
Loans, net of unearned income		5,793,484		4,806,747		4,649,829		5,586,326
Loans held for sale		1,270		2,041		3,324		954
Investment securities		1,394,764		1,275,470		1,501,966		1,323,269
Total deposits		5,349,750		4,828,192		4,617,452		5,346,226
Shareholders’ equity		761,199		634,092		635,205		755,269

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
	December			December			September			June			March
	2007			2006			2007			2007			2007
Interest & Loan Fees Income	$	119,096		$	102,206		$	117,309		$	101,702		$	100,622
Tax Equivalent Adjustment		4,165			4,043			4,210			4,086			4,011
Interest & Fees Income (FTE)		123,261			106,249			121,519			105,788			104,633
Interest Expense		58,271			48,143			58,197			48,882			47,960
Net Interest Income (FTE)		64,990			58,106			63,322			56,906			56,673
Provision for Credit Losses		2,580			268			1,550			850			350
Non-Interest Income:
Investment Securities Transactions		(562	)		(105	)		172			165			157
Fees from Trust & Brokerage Services		4,317			3,091			3,788			3,763			3,546
Fees from Deposit Services		9,701			7,502			9,087			7,869			7,178
Other Charges, Commissions, and Fees		1,998			1,698			2,285			1,791			1,693
Income from Bank Owned Life Insurance		1,424			1,137			1,179			1,327			1,459
Mortgage Banking Income		80			240			124			162			161
(Loss) Gain on Termination of Interest Rate Swaps Associated with Prepayment of FHLB Advances		(8,900	)		—			—			787			—
Other Non-Interest Revenue		924			1,169			691			661			722
Total Non-Interest Income		8,982			14,732			17,326			16,525			14,916
Non-Interest Expense:
Salaries and Employees Benefits		17,965			15,542			17,452			14,633			14,745
Net Occupancy		4,028			3,089			3,823			3,114			3,456
Other Expenses		16,816			13,171			16,399			13,197			12,580
Prepayment Penalties on FHLB Advances		4,331			—			—			786			—
Amortization of Intangibles		1,078			433			1,000			383			407
OREO Expense		563			230			202			238			164
FDIC Expense		135			143			146			145			143
Total Non-Interest Expense		44,916			32,608			39,022			32,496			31,495
Income Before Income Taxes (FTE)		26,476			39,962			40,076			40,085			39,744
Tax Equivalent Adjustment		4,165			4,043			4,210			4,086			4,011
Income Before Income Taxes		22,311			35,919			35,866			35,999			35,733
Income Taxes		6,359			10,904			10,063			11,487			11,326
Net Income	$	15,952		$	25,015		$	25,803		$	24,512		$	24,407
MEMO: Effective Tax Rate		28.50	%		30.36	%		28.06	%		31.91	%		31.70	%

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

	Year Ended
	December			December			December			December
	2007			2006			2005			2004
Interest & Loan Fees Income	$	438,729		$	400,683		$	345,278		$	293,350
Tax Equivalent Adjustment		16,472			15,452			12,590			11,186
Interest & Fees Income (FTE)		455,201			416,135			357,868			304,536
Interest Expense		213,310			181,090			124,451			88,914
Net Interest Income (FTE)		241,891			235,045			233,417			215,622
Credit Loss Provision		5,330			1,437			5,618			4,520
Non-Interest Income:
Investment Securities Transactions		(68	)		(3,176	)		695			1,110
Fees from Trust & Brokerage Services		15,414			12,948			11,083			10,518
Fees from Deposit Services		33,835			29,077			27,749			29,967
Other Charges, Commissions, and Fees		7,767			6,900			6,013			4,986
Income from Bank Owned Life Insurance		5,389			4,422			4,753			4,282
Mortgage Banking Income		527			855			1,055			729
(Loss) Gain on Termination of Interest Rate Swaps Associated with Prepayment of FHLB Advances		(8,113	)		(4,599	)		—			—
Other Non-Interest Revenue		2,998			2,606			1,277			2,639
Total Non-Interest Income		57,749			49,033			52,625			54,231
Non-Interest Expense:
Salaries and Employee Benefits		64,795			62,331			59,197			56,526
Net Occupancy		14,421			12,547			12,201			12,551
Other Expenses		58,992			51,086			45,883			44,696
Prepayment Penalties on FHLB Advances		5,117			8,261			406			18,975
Amortization of Intangibles		2,868			1,886			2,292			2,726
OREO Expense		1,167			482			594			956
FDIC Expense		569			580			587			631
Total Non-Interest Expense		147,929			137,173			121,160			137,061
Income from Continuing Operations Before Income Taxes (FTE)		146,381			145,468			159,264			128,272
Tax Equivalent Adjustment		16,472			15,452			12,590			11,186
Income from Continuing Operations Before Income Taxes		129,909			130,016			146,674			117,086
Taxes		39,235			40,767			46,265			33,771
Income from Continuing Operations		90,674			89,249			100,409			83,315
Gain on Sale of Discontinued Operations		—			—			—			17,000
Other Operating Income		—			—			—			3,780
Income from Discontinued Operations Before Income Taxes		—			—			—			20,780
Taxes		—			—			—			6,333
Income from Discontinued Operations		—			—			—			14,447
Net Income	$	90,674		$	89,249		$	100,409		$	97,762
MEMO: Effective Tax Rate		30.20	%		31.36	%		31.54	%		29.09	%

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

Discontinued Operations Statements of Income

	Year Ended
	December		December		December		December
	2007		2006		2005		2004
Interest & Loan Fees Income		—		—		—	$	6,850
Interest Expense		—		—		—		1,543
Net Interest Income		—		—		—		5,307
Non-Interest Income:
Service Charges, Commissions, and Fees		—		—		—		565
Income from Mortgage Banking Operations		—		—		—		15,271
Gain on Sale of Discontinued Operations		—		—		—		17,000
Total Non-Interest Income		—		—		—		32,836
Non-Interest Expense:
Salaries and Employee Benefits		—		—		—		13,574
Net Occupancy		—		—		—		985
Other Expenses		—		—		—		2,804
Total Non-Interest Expense		—		—		—		17,363
Income from Discontinued Operations Before Income Taxes		—		—		—		20,780
Taxes		—		—		—		6,333
Income from Discontinued Operations		—		—		—	$	14,447

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

Consolidated Balance Sheets

	December 31			December 31
	2007			2006			December 31			December 31			December 31
	Q-T-D Average			Q-T-D Average			2007			2006			2005
Cash & Cash Equivalents	$	210,148		$	188,829		$	230,651		$	259,013		$	207,962
Securities Available for Sale		1,111,068			1,011,222			1,156,561			1,010,252			1,213,606
Held to Maturity Securities		157,785			213,489			157,228			212,296			227,345
Other Investment Securities		70,395			52,196			80,975			52,922			61,015
Total Securities		1,339,248			1,276,907			1,394,764			1,275,470			1,501,966
Total Cash and Securities		1,549,396			1,465,736			1,625,415			1,534,483			1,709,928
Loans Held for Sale		960			2,749			1,270			2,041			3,324
Commercial Loans		3,497,159			2,678,655			3,648,999			2,757,957			2,599,781
Mortgage Loans		1,776,940			1,706,980			1,772,441			1,694,922			1,668,782
Consumer Loans		384,894			360,362			379,121			360,829			387,959
Gross Loans		5,658,993			4,745,997			5,800,561			4,813,708			4,656,522
Unearned Income		(7,060	)		(6,541	)		(7,077	)		(6,961	)		(6,693	)
Loans, Net of Unearned Income		5,651,933			4,739,456			5,793,484			4,806,747			4,649,829
Allowance for Loan Losses		(50,345	)		(43,897	)		(50,456	)		(43,629	)		(44,138	)
Goodwill		312,784			167,421			312,111			167,421			167,487
Other Intangibles		11,431			2,881			10,878			2,640			4,527
Total Intangibles		324,215			170,302			322,989			170,061			172,014
Real Estate Owned		5,980			2,977			6,365			4,231			2,941
Other Assets		287,462			244,999			295,672			243,664			234,594
Total Assets	$	7,769,601		$	6,582,322		$	7,994,739		$	6,717,598		$	6,728,492
MEMO: Earning Assets	$	6,981,493		$	6,021,372		$	7,158,532		$	6,082,080		$	6,129,969
Interest-bearing Deposits	$	4,459,350		$	3,899,599		$	4,436,323		$	3,924,985		$	3,657,778
Noninterest-bearing Deposits		867,133			834,064			913,427			903,207			959,674
Total Deposits		5,326,483			4,733,663			5,349,750			4,828,192			4,617,452
Short-term Borrowings		817,027			646,979			1,036,063			682,266			856,425
Long-term Borrowings		792,642			501,494			774,162			499,200			547,731
Total Borrowings		1,609,669			1,148,473			1,810,225			1,181,466			1,404,156
Other Liabilities		66,650			57,314			73,565			73,848			71,679
Total Liabilities		7,002,802			5,939,450			7,233,540			6,083,506			6,093,287
Common Equity		766,799			642,872			761,199			634,092			635,205
Total Shareholders’ Equity		766,799			642,872			761,199			634,092			635,205
Total Liabilities & Equity	$	7,769,601		$	6,582,322		$	7,994,739		$	6,717,598		$	6,728,492

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

	Three Months Ended
	December			December			September		June		March
Quarterly Share Data:	2007			2006			2007		2007		2007
Earnings Per Share:
Basic	$	0.37		$	0.61		$	0.60	$	0.60	$	0.60
Diluted	$	0.37		$	0.60		$	0.60	$	0.60	$	0.59
Common Dividend Declared Per Share	$	0.29		$	0.28		$	0.28	$	0.28	$	0.28
High Common Stock Price	$	33.61		$	39.71		$	32.98	$	35.37	$	39.50
Low Common Stock Price	$	25.54		$	36.51		$	25.70	$	30.88	$	33.60
Average Shares Outstanding (Net of Treasury Stock):
Basic		43,216,077			41,156,578			42,731,909		40,677,396		40,946,236
Diluted		43,438,997			41,557,831			42,998,484		40,935,684		41,272,213
Memorandum Items:
Tax Applicable to Security Transactions	$	(197	)	$	(37	)	$	60	$	58	$	55
Common Dividends	$	12,537		$	11,518		$	12,089	$	11,368	$	11,452

	Year Ended
	December			December			December		December
YTD Share Data:	2007			2006			2005		2004
Earnings Per Share from Continuing Operations:
Basic	$	2.16		$	2.15		$	2.36	$	1.92
Diluted	$	2.15		$	2.13		$	2.33	$	1.89
Earnings Per Share from Discontinued Operations:
Basic		—			—			—	$	0.33
Diluted		—			—			—	$	0.33
Earnings Per Share:
Basic	$	2.16		$	2.15		$	2.36	$	2.25
Diluted	$	2.15		$	2.13		$	2.33	$	2.22
Common Dividend Declared Per Share	$	1.13		$	1.09		$	1.05	$	1.02
Average Shares Outstanding (Net of Treasury Stock):
Basic		41,901,422			41,532,121			42,514,445		43,404,586
Diluted		42,222,899			41,942,889			43,024,861		43,978,914
Memorandum Items:
Tax Applicable to Security Transactions	$	(24	)	$	(1,112	)	$	243	$	389
Common Dividends	$	47,446		$	45,219		$	44,575	$	44,228
EOP Employees (full-time equivalent)		1,537			1,367			1,374		1,319

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

	Three Months Ended
	December		December		September		June		March
EOP Share Data:	2007		2006		2007		2007		2007
Book Value Per Share	$	17.61	$	15.44	$	17.49	$	15.77	$	15.65
Tangible Book Value Per Share	$	10.14	$	11.30	$	9.97	$	11.60	$	11.49
52-week High Common Stock Price	$	39.50	$	39.71	$	39.71	$	39.71	$	39.71
Date		01/03/07		12/28/06		12/28/06		12/28/06		12/28/06
52-week Low Common Stock Price	$	25.54	$	34.21	$	25.70	$	30.88	$	33.60
Date		11/08/07		07/17/06		08/06/07		06/26/07		03/14/07
EOP Shares Outstanding (Net of Treasury Stock):		43,234,726		41,058,901		43,182,328		40,523,267		40,823,168

	Three Months Ended
	December			December			September			June			March
	2007			2006			2007			2007			2007
Selected Yields and Net Interest Margin:
Loans		7.36	%		7.38	%		7.54	%		7.44	%		7.41	%
Investment Securities		5.66	%		5.78	%		5.76	%		5.72	%		5.65	%
Money Market Investments/FFS		5.24	%		4.89	%		4.76	%		5.27	%		5.62	%
Average Earning Assets Yield		7.02	%		7.02	%		7.17	%		7.06	%		7.03	%
Interest-bearing Deposits		3.50	%		3.43	%		3.63	%		3.55	%		3.49	%
Short-term Borrowings		3.84	%		4.31	%		4.58	%		4.43	%		4.48	%
Long-term Borrowings		5.52	%		5.86	%		5.44	%		5.77	%		5.84	%
Average Liability Costs		3.81	%		3.78	%		3.97	%		3.89	%		3.86	%
Net Interest Spread		3.21	%		3.24	%		3.20	%		3.17	%		3.17	%
Net Interest Margin		3.71	%		3.85	%		3.75	%		3.80	%		3.79	%
Selected Financial Ratios:
Return on Average Common Equity		8.25	%		15.44	%		13.91	%		15.22	%		15.44	%
Return on Average Assets		0.81	%		1.51	%		1.37	%		1.50	%		1.51	%
Efficiency Ratio		58.06	%		43.79	%		47.00	%		43.51	%		43.20	%

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

	Year Ended
	December			December			December			December
	2007			2006			2005			2004
Selected Yields and Net Interest Margin:
Loans		7.44	%		7.20	%		6.36	%		5.72	%
Investment Securities		5.70	%		5.67	%		5.11	%		4.60	%
Money Market Investments/FFS		5.14	%		4.35	%		3.09	%		1.28	%
Average Earning Assets Yield		7.07	%		6.84	%		6.04	%		5.41	%
Interest-bearing Deposits		3.54	%		3.10	%		2.06	%		1.45	%
Short-term Borrowings		4.31	%		4.04	%		2.43	%		1.08	%
Long-term Borrowings		5.61	%		6.38	%		5.82	%		4.82	%
Average Liability Costs		3.88	%		3.57	%		2.56	%		1.91	%
Net Interest Spread		3.19	%		3.27	%		3.48	%		3.50	%
Net Interest Margin		3.76	%		3.86	%		3.94	%		3.84	%
Selected Financial Ratios:
Return on Average Common Equity		12.99	%		13.90	%		15.66	%		15.56	%
Return on Average Assets		1.28	%		1.34	%		1.55	%		1.55	%
Loan / Deposit Ratio		108.29	%		99.56	%		100.70	%		102.81	%
Allowance for Loan Losses/ Loans, Net of Unearned Income		0.87	%		0.91	%		0.95	%		0.98	%
Allowance for Credit Losses (1)/ Loans, Net of Unearned Income		1.01	%		1.09	%		1.14	%		1.16	%
Nonaccrual Loans / Loans, Net of Unearned Income		0.24	%		0.12	%		0.15	%		0.14	%
90-Day Past Due Loans/ Loans, Net of Unearned Income		0.25	%		0.18	%		0.13	%		0.10	%
Non-performing Loans/ Loans, Net of Unearned Income		0.49	%		0.30	%		0.28	%		0.24	%
Non-performing Assets/ Total Assets		0.43	%		0.27	%		0.24	%		0.22	%
Primary Capital Ratio		10.18	%		10.14	%		10.15	%		10.53	%
Shareholders’ Equity Ratio		9.52	%		9.44	%		9.44	%		9.81	%
Price / Book Ratio		1.59	x		2.50	x		2.33	x		2.60	x
Price / Earnings Ratio		13.05	x		18.16	x		15.10	x		17.16	x
Efficiency Ratio		48.01	%		46.93	%		41.45	%		49.12	%

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

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

	December		December		September		June		March
Asset Quality Data:	2007		2006		2007		2007		2007
EOP Non-Accrual Loans	$	14,115	$	5,755	$	8,958	$	7,842	$	6,068
EOP 90-Day Past Due Loans		14,210		8,432		13,827		9,869		5,416
Total EOP Non-performing Loans	$	28,325	$	14,187	$	22,785	$	17,711	$	11,484
EOP Other Real Estate & Assets Owned		6,365		4,231		5,338		4,074		3,991
Total EOP Non-performing Assets	$	34,690	$	18,418	$	28,123	$	21,785	$	15,475

	Three Months Ended						Year Ended
	December			December			December			December			December
Allowance for Credit Losses(1)	2007			2006			2007			2006			2005
Beginning Balance	$	58,617		$	52,536		$	52,371		$	52,871		$	51,353
Allowance of Purchased Companies		—			—			7,648			—			—
Provision Expense		2,580			268			5,330			1,437			5,618
		61,197			52,804			65,349			54,308			56,971
Gross Charge-offs		(2,786	)		(746	)		(7,738	)		(3,228	)		(6,016	)
Recoveries		333			313			1,133			1,291			1,916
Net Charge-offs		(2,453	)		(433	)		(6,605	)		(1,937	)		(4,100	)
Ending Balance	$	58,744		$	52,371		$	58,744		$	52,371		$	52,871

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