United Bankshares Inc. announced Thursday it will acquire Tysons Corner-based Cardinal Financial Corp., becoming the largest community bank in the Washington, D.C., area.
The all-stock deal is worth $912 million.
United, which has headquarters in Washington, D.C., and Charleston, W.Va., said the acquisition will be its 10th in the Washington area and 31st for the current administration.
“Cardinal is one of the most successful community banks in the country and has a significant presence in one of the best markets in the U.S.A.,” Richard Adams, chairman and CEO of United Bankshares, said in a statement. “This merger aligns perfectly with our longstanding commitment to growth in the D.C. metro area.”
