United Bankshares completed a $1.1bn merger with Carolina Financial.

United Bankshares, a bank holding company, completed a $1.1bn merger with Carolina Financial, the parent company of CresCom Bank. The combined organization is worth c. $25bn. "The merger brings together two of the best performing banking companies in the country, and uniquely positions our franchise as one of the most valuable regional banking companies in the Southeast and Mid-Atlantic,” Richard M. Adams, United’s Chairman and Chief Executive Officer.