11:45 AM EST, 11/29/2024 (MT Newswires) -- United Bankshares ( UBSI ) has secured the Federal Reserve Board's approval to acquire Piedmont Bancorp and its Piedmont Bank subsidiary.

The Fed said in the order, which was issued Friday, that the merger would not have a significant adverse impact on competition.

The approval also covers the merger of United Bankshares' ( UBSI ) subsidiary, United Bank, with Piedmont Bank, with United Bank emerging as the surviving entity. Following the transaction, United Bank will operate in Georgia under the name United Bankshares ( UBSI ), according to the order.

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