Oct. 27--United Bankshares Inc. today reported third-quarter 2009 earnings of $17.4 million or 40 cents a share.

In comparison, the company reported earnings of $19.6 million or 45 cents a share for the same period a year ago.

United reported earnings of $55.2 million for the first nine months of 2009, compared to $70.4 million for the first nine months of 2008.

Richard Adams, United's chairman and chief executive officer, said in a prepared statement, "We are pleased with the financial performance results for the first nine months of 2009, especially in light of the very challenging economic times.

"While earnings are down compared to last year, United's earnings for the first nine months of 2009 compare very favorably to most regional banking companies as evidenced by a return on average assets of nearly 1 percent as compared to -0.22 percent for the first six months of 2009 for United's Federal Reserve peer group of bank holding companies with total assets between $3 billion and $10 billion."

United Bankshares Inc. is a holding company with $8.1 billion in assets. The company has dual headquarters in Charleston and Washington, D.C. The company's subsidiaries operate under the United Bank name and have 113 offices in West Virginia, Virginia, Washington, D.C., Maryland and Ohio.

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