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Bank of Georgetown Announces Shareholder Approval of Merger Agreement with United Bankshares, Inc.

WASHINGTON, April 28, 2016 (GLOBE NEWSWIRE) -- Bank of Georgetown (the “Bank”) announced today that on April 21, 2016, the shareholders of Bank of Georgetown overwhelmingly approved the Agreement and Plan of Reorganization (“Merger Agreement”) between the Bank and United Bankshares, Inc.

All of the required regulatory approvals have been received, and the merger is expected to have an effective closing date of June 3, 2016.

“We are extremely pleased with the overwhelmingly positive response from our shareholders to move forward with the merger,” said Bank of Georgetown Chairman, President and CEO Michael Fitzgerald. “United Bank is a proven first-class community bank, and we look forward to being a part of the largest community bank headquartered in the nation’s capital.”

About Bank of Georgetown Bank of Georgetown, a privately-owned community bank, specializes in helping businesses and individuals achieve long-term success. It combines personalized loan, deposit and cash management solutions with a commitment to accessibility, flexibility and superior service, resulting in an unmatched banking experience for its clients. Founded in 2005 by Chairman, President and CEO Mike Fitzgerald and the late Curtin Winsor III, the Bank has over $1 billion in assets and 11 branches throughout the Washington metro area. Visit www.bankofgeorgetown.com for more information.

Forward Looking Statements

The statements contained in this release that are not historical facts are “forward-looking statements” based on management’s current expectations and beliefs concerning future developments. These forward-looking statements involve inherent risks and uncertainties. Specific relevant risks include whether other closing conditions are met and whether the transaction with United Bankshares, Inc. will be completed. Bank of Georgetown cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Bank of Georgetown undertakes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.


Contact: Michael Fitzgerald Chairman, President and CEO Bank of Georgetown 202-355-1200, mfitzgerald@bankofgeorgetown.com

Source:Bank of Georgetown