PARKERSBURG, WV-- The Board of Directors of United Bankshares, Inc. (NASDAQ: UBSI) declared a second quarter cash dividend of 23¢ per share on the company's common stock. The dividend is payable July 1, 2002 to shareholders of record as of June 14, 2002.

The dividend payout will be approximately $9.8 million on 42.7 million shares outstanding. Dividends per share of 46¢ for the first half of 2002 represents a 2% increase over the 45¢ per share paid for the first half of 2001. The year 2002 will be the 29th consecutive year of dividend increases to United shareholders.

United previously announced record earnings for the first quarter of 2002. Net income was $21.8 million compared to $19.4 million for the first quarter of 2001, an increase of 13%. Earnings per share were 50¢ for the first quarter of 2002 compared to 46¢ per share a year earlier, an increase of 9%. United continues to be one of the highest performing regional banking companies in the country.