Item 8.01. Other Events

On December 18, 2020, United Bankshares, Inc. ("United", the "Company") initiated repurchases of shares of United's common stock under a stock repurchase plan (the "Plan") approved by the Company's Board of Directors in October of 2019. The Plan was previously disclosed in a Current Report on Form 8-K filed on October 19, 2019. The Plan authorizes United to repurchase, on the open market at prevailing prices, up to 4,000,000 shares of United's common stock subject to applicable laws of the states and applicable securities rules and regulations promulgated pursuant to the laws of the United States, including, but not limited to, Rule 10b-5 and Rule 10b-18 of the U.S. Securities and Exchange Commission.

The Plan does not obligate United to purchase any particular number of shares of common stock during any period. The timing, price and quantity of purchases under the Plan will be at the discretion of management and the Plan may be discontinued, suspended or restarted at any time depending on the facts and circumstances. United's management believes the repurchase plan, depending upon market and business conditions, will provide capital management opportunities and build value for the Company's shareholders.

This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Securities Act and the Exchange Act. These statements involve risks and uncertainties that could cause United's actual results to differ materially from the future results expressed or implied by the forward-looking statements. All information set forth herein is current as of the date of this Current Report on Form 8-K. United undertakes no duty to update any statement in light of new information or future events. For further information regarding risks and uncertainties associated with United's business, please refer to the "Risk Factors" section of the Company's SEC filings, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

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