United Bankshares to Acquire Centra Financial Holdings for $186.9M

United Bankshares, Inc. UBSI Chairman and Chief Executive Officer, Richard M. Adams, announced the signing of a definitive merger agreement with Centra Financial Holdings, Inc.. The estimated aggregate consideration of the transaction is approximately $186.9 million based on Centra's 8.4 million common shares outstanding, Centra's 1.2 million options outstanding and United's recent stock price of $27.36 per share as of December 10, 2010. The announced price represents 17.3 times Centra's 2011 earnings estimate and 1.3 times book value.