Item 8.01. Other Events
On December 3, 2008, United Bankshares, Inc. ("United") issued a press
release announcing that it has received preliminary approval to participate in
the Capital Purchase Program (the "CPP") of the U.S. Department of the Treasury
(the "Treasury"). United applied for and received preliminary approval for the
issuance of (a) up to $197.28 million of senior preferred stock and (b) warrants
for the purchase of United's common stock with an aggregate market price equal
to 15% of such senior preferred stock. The final approval is subject to
satisfaction of certain conditions, including approval by United's shareholders
of amendments to the company's articles of incorporation to allow United to
issue preferred stock, as well as the execution of definitive agreements in
satisfaction of closing conditions.
A copy of a press release dated December 3, 2008 is attached hereto as
Exhibit 99.1 and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release, dated December 3, 2008, issued by United Bankshares, Inc.
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