At the annual conference of the West Virginia Bankers Association being held this week at The Greenbrier, United Bank received the Pillars of the Community Award for its outstanding activity in the areas of affordable housing and community and economic development. The award was presented to United Bank, Inc. President Rick Adams by John R. Price, president and chief executive officer of the Federal Home Loan Bank (FHLBank) of Pittsburgh.

"Each year, FHLBank chooses a select group of financial institutions across Delaware, Pennsylvania and West Virginia that engage in a superior array of financial and volunteer activities, helping to strengthen communities," said Price. "This year, we are pleased to present a Pillars of the Community Award to United Bank for its outstanding track record during 2008."

"United Bank is committed to giving back to the communities we serve," said Joe Wilson, United Bank executive vice president. "We are actively involved in making our neighborhoods better places to live through housing development and rehabilitation that otherwise may not be possible."

Grants and low-cost loans

A longtime advocate of community development, United Bank was busy on numerous fronts last year. It helped fund a homeless shelter for veterans, provided grant money for the successful rehabilitation of dilapidated homes in coal mining towns in southern West Virginia, and helped spur construction of other homes and apartments for disabled and low- and moderate-income individuals and families -- all projects made possible through a joint effort with FHLBank Pittsburgh.

Also in 2008, United Bank participated in much-needed repairs to a dozen homes when no other funding was available. Similarly, the bank helped qualify small businesses for conventional bank financing using FHLBank's Banking On Business program, and provided down payment and closing cost assistance to first-time homebuyers through its First Front Door program. Other community development projects benefited from at-cost loans that FHLBank provided to United Bank as well.

Blueprint Communities

United Bank has also been engaged in Blueprint Communities, a community renewal initiative brought to West Virginia by FHLBank in 2007. The comprehensive training program focuses on leadership, organizational capacity and strategic planning and to date has served ten West Virginia communities. United Bank remains an active participant on the Ansted and Gilmer County Blueprint Communities teams.

Volunteerism rounds out efforts

While its commitment to community is unmistakable, United Bank goes one step further in supporting the towns and cities it serves. In 2008, the bank made donations of more than $700,000 to nonprofit organizations across West Virginia. Its directors and employees also volunteered a total of more than 5,000 hours of their time to their respective communities. These volunteers sit on the community development boards of 63 West Virginia nonprofits.

About the banks

United Bank has served the financial needs of West Virginia and surrounding states for more than 170 years. With dual headquarters in Charleston, WV, and Washington, DC, United Bankshares, Inc. (UBSI) is a $7.8 billion holding company. UBSI has 114 full-service banking offices in West Virginia, Virginia, Washington, DC, Maryland and Ohio that operate under the name United Bank. United Bankshares stock is traded on the NASDAQ National Market System under the quotation symbol "UBSI."

FHLBank Pittsburgh is one of twelve wholesale banks chartered by Congress to provide a steady stream of low-cost liquidity to local lenders in support of housing finance and community and economic development. FHLBank is privately funded and capitalized. At March 31, 2009, the Bank had 320 members in its cooperative, approximately $83 billion in assets, and remained in compliance with all regulatory capital requirements.

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