United Bankshares, Inc. Elects Charles L. Capito, Jr. to Its Board of Directors
May 12, 2021 at 05:40 pm EDT
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During its Annual Meeting of Shareholders held on May 12, 2021, United Bankshares, Inc. (United), a $27 billion regional financial services company, announced the election of Charles L. Capito, Jr. to its board of directors. Capito is the former Managing Director of the Wells Fargo Advisors Complex in West Virginia. During his time at Wells Fargo, he was charged with the prudent management of the firm’s resources, while also building local partnerships in West Virginia, recruiting top talent and creating an inclusive environment of teamwork and innovation across the firm. Previously, he also served as Executive Vice President and Director of Business Development at United Bank. While at United, Capito was also a member of the United Brokerage Services, Inc. Board. Prior to this, he served in leadership roles with Citigroup in New York City and the Legg Mason Division at Smith Barney in Washington, D.C. Currently, in addition to his role as President of the Congressional Club Museum and Foundation in Washington, D.C., Capito serves on the West Virginia University Board of Governors. He is also a trustee, as well as Audit Committee Chairman, for both Charleston Area Medical Center, Inc. and CAMC Health Systems, Inc. in Charleston, West Virginia. Capito is the husband of U.S. Senator Shelley Moore Capito, R-WV.
United Bankshares, Inc. is a financial holding company. The Company's segments include community banking and mortgage banking. The community banking segment includes both commercial and consumer lending and provides customers with such products as commercial loans, real estate loans, business financing and consumer loans. In addition, this segment provides customers with several choices of deposit products including demand deposit accounts, savings accounts and certificates of deposit as well as investment and financial advisory services to businesses and individuals, including financial planning, retirement/estate planning, and investment management. The mortgage banking segment engages primarily in the origination and acquisition of residential mortgages for sale into the secondary market though Unitedâs mortgage banking subsidiaries, George Mason and Crescent. The Company has one banking subsidiary doing business under the name of United Bank. It also owns nonbank subsidiaries.