8-K
 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):
December 17, 2004

United Bankshares, Inc.

(Exact name of registrant as specified in its charter)
         
West Virginia   No. 0-13322   55-0641179
  		 
  		 
 
(State or other jurisdiction of
incorporation or organization) 		  (Commission File Number)   (I.R.S. Employer
Identification No.)

300 United Center
500 Virginia Street, East
Charleston, West Virginia 25301
(Address of Principal Executive Offices)

(304) 424-8800
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

  o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01. Other Events

     United Bankshares, Inc. (United) will reduce its income tax expense by approximately $2.5 million in the fourth quarter of 2004 as a result of a recently concluded tax examination for the years 2001 through 2003.

     Separately, United has refinanced approximately $26 million of a long-term Federal Home Loan Bank (FHLB) advance with an interest rate of 6.23%. United refinanced the amount for a shorter-term and a lower interest rate which is expected to reduce interest expense in future periods. As a result of refinancing this advance, United will incur a before-tax penalty of approximately $3.0 million in the fourth quarter of 2004.

     United has elected to disclose this nonpublic information pursuant to this Item 8.01 in compliance with Regulation FD.

 

 

SIGNATURES

     Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
  UNITED BANKSHARES, INC.
 		  
Date: December 30, 2004  By:   /s/ Steven E. Wilson    
    Steven E. Wilson, Executive Vice   
    President, Treasurer, Secretary and Chief Financial Officer