UNITED BANKSHARES, INC.

UNITED BANKSHARES, INC.

Mission The mission of United Bankshares is excellence in service to our shareholders, our employees, our customers, and our communities.

United Bankshares, Inc. $7.6 billion regional bank holding company 115 full-service offices in Virginia, West Virginia, Maryland, Washington, DC and Ohio Two banking subsidiaries: United Bank-WV and United Bank-VA 6 th largest bank holding company headquartered in the Fifth Federal Reserve District which includes Maryland, North Carolina, South Carolina, Virginia, most of West Virginia, and Washington DC Since 1982, United has closed 27 mergers

United Bankshares, Inc. Ranked the fourth most efficient of the 65 largest depository institutions in the country based on market capitalization. Ranked in the top 25 financial performers for 2006 in the country by Bank Director Magazine. 22nd based on profitability, capital adequacy, and asset quality - beating out Wells Fargo, PNC, BB&T, Fifth Third, Bank of America, Wachovia and Sun Trust, among others Member of the S&P Small Cap 600 and Russell 2000 Indexes

Office Locations

UNITED BANKSHARES, INC. Acquisition of Premier Community Bankshares, Inc.

Transaction Summary Strategic acquisition of a leading independent community bank in Virginia Adds to United s Metro DC Franchise Strengthens United s existing Virginia presence as the 2nd largest community banking institution in the state, adding 26 Premier branches Extends United s demographic and growth profile Considerable consolidation cost savings opportunities further enhanced by 3 separate Premier subsidiaries

Transaction Summary Consummation Date: July 14, 2007 Assets Acquired: $911 Million Transaction Value: $200 Million Price Per Share: $34.00 Consideration: 50% stock, 50% cash Board Composition: One seat at Holding Company; Three to United Bank s Board of Directors

Enhances United s Franchise in Virginia With the acquisition of Premier, the percentage of United s deposits in Virginia and the Greater D.C. area will increase from roughly 45% to nearly 52% Combined with Premier, United Bank VA will be the 2nd largest community banking institution in Virginia, with assets of approximately $4 billion OH PA UBSI PREM MD DE WV VA Source: SNL Financial; deposit figures as of June 30, 2006 Deposits Mkt Share MSA Rank Branches ($000) (%) Washington-Arlington-Alexandria, DC-MD-VA 8 41 2,345,375 1.62 Winchester, VA-WV 4 7 215,202 10.05 Harrisonburg, VA 5 7 173,601 10.78 Charlottesville, VA 7 3 102,242 3.49 Staunton-Waynesboro, VA 7 3 66,213 4.87

Demographics Builds upon United s Virginia franchise, in an effort to participate further in the meaningful growth and overall favorable demographics of the state Enhances United s position as a leading regional franchise in the Mid-Atlantic, both in terms of branch network and financial performance Median Proj. HHI PREM HH Income Change Deposits 2006 2006-2011 City State ($mm) ($) (%) Winchester VA 215 41,068 17.13 Harrisonburg VA 174 36,380 15.49 Washington, DC MSA DC-MD-VA 103 78,402 19.10 Charlottesville VA 102 37,731 16.91 Source: SNL Financial Deposit data as of June 30, 2006

Enhanced Position as Virginia Market Leader Deposits Market Share Rank Institution Type Branches ($mm) (%) 1 Wachovia Corp. Bank 298 25,465 20.70 2 BB&T Corp. Bank 401 19,411 15.78 3 Bank of America Corp. Bank 204 16,901 13.74 4 SunTrust Banks Inc. Bank 255 14,084 11.45 5 PNC Financial Services Group Bank 59 2,346 1.91 6 Chevy Chase Bank Thrift 98 2,287 1.86 7 Carter Bank & Trust Bank 89 2,099 1.71 8 PRO FORMA Bank 44 1,997 1.62 8 TowneBank Bank 17 1,620 1.32 9 Union Bankshares Corp. Bank 51 1,619 1.32 10 Virginia Commerce Bancorp Inc. Bank 20 1,432 1.16 11 Virginia Financial Group Bank 41 1,303 1.06 12 FNB Corp. Bank 28 1,292 1.05 13 UBSI - VA Bank 20 1,291 1.05 14 Burke & Herbert Bank & Trust Bank 16 1,155 0.94 15 Cardinal Financial Corp. Bank 23 1,128 0.92 16 First Citizens BancShares Inc. Bank 48 1,104 0.90 17 Ukrop's Super Markets Inc. Thrift 32 1,004 0.82 18 Fulton Financial Corp. Bank 8 906 0.74 19 National Bankshares Inc. Bank 26 747 0.61 20 Premier Community Bankshares Bank 24 706 0.57 Source: SNL Financial Deposit data as of June 30, 2006

Enhanced Position as Metro D.C. Market Leader Deposits Market Share Rank Institution Type Branches ($mm) (%) 1 Wachovia Corp. Bank 143 19,359,283 16.88 2 Bank of America Corp. Bank 179 14,650,880 12.78 3 SunTrust Banks Inc. Bank 184 14,344,181 12.51 4 BB&T Corp. Bank 180 11,387,025 9.93 5 Chevy Chase Bank Thrift 223 10,082,723 8.79 6 Citigroup Inc. Bank 33 9,829,298 8.57 7 PNC Financial Services Group Bank 145 7,422,077 6.47 8 PRO FORMA Bank 41 2,345,375 2.05 8 UBSI - VA Bank 38 2,241,958 1.95 9 M&T Bank Corp. Bank 54 1,898,346 1.66 10 Sandy Spring Bancorp Inc. Bank 28 1,671,947 1.46 11 Virginia Commerce Bancorp Inc. Bank 20 1,432,267 1.25 12 Provident Bankshares Corp. Bank 74 1,328,081 1.16 13 Burke & Herbert Bank & Trust Bank 16 1,155,366 1.01 14 Cardinal Financial Corp. Bank 24 1,148,432 1.00 15 HSBC Holdings plc Bank 3 1,070,893 0.93 16 UNIFI Mutual Holding Co. Thrift 1 860,785 0.75 17 Natl Consumer Cooperative Bk Thrift 1 630,752 0.55 18 Eagle Bancorp Inc Bank 9 623,928 0.54 19 Middleburg Financial Corp. Bank 8 562,714 0.49 20 Fulton Financial Corp. Bank 11 544,721 0.47 58 Premier Community Bankshares Bank 3 103,417 0.09 Source: SNL Financial Deposit data as of June 30, 2006

Overview Premier Overview Premier a community bank holding company headquartered in Winchester, VA operating with three subsidiaries Solid performance and operating metrics make Premier one of the most attractive community banking franchises in Virginia Total Assets Gross Loans Total Deposits Net Income Premier Financial Highlights Year Ended 12/31/2006 $901 mm $755 mm $728 mm $7.85 mm Net Interest Margin 4.38% ROAA 0.96% ROAE 11.9% Efficiency Ratio 69.8% Tangible Equity / Tangible Assets 6.02% NPAs / Assets 0.23% Source: SNL Financial

Historical Financial Performance Premier s proven track record of growth and profitability that will complement United s Virginia existing operation PREM Three Year CAGR of Revenue 18.9% Three Year CAGR of Assets 24.8% Three Year CAGR of Loans 25.0% 2006 Fee Income / Average Assets 0.64% 2006 ROAA 0.96% 2006 ROAE 11.9% Yield on Loans 1 8.59% Cost of Deposits 1 3.31% 1 For the quarter ended September 30, 2006 Source: SNL Financial

Historical Financial Performance In addition to growth and profitability, PREM has a history of strong credit quality 0.40% PREM VA Bank Mean 1 Net Charge-Offs / Average Loans 0.35% 0.30% 0.25% 0.20% 0.15% 0.10% 0.05% 0.31% 0.11% 0.08% 0.34% 0.34% 0.24% 0.20% 0.34% 0.04% 0.05% 0.00% 0.03% 0.03% 2001 2002 2003 2004 2005 2006 1 Mean value for publicly-traded commercial banks headquartered in Virginia Source: SNL Financial

Efficient Integration History Deal Deal Annc. Value Annc. Value Seller ST Date ($mm) Seller ST Date ($mm) Sequoia Bancshares Inc. MD 4/7/2003 112.2 Century Bancshares Inc. DC 6/14/2001 70.2 Fed One Bancorp WV 2/18/1998 92.2 George Mason Bankshares Inc. VA 9/11/1997 208.4 First Patriot Bankshares Corp. VA 2/19/1997 39.1 Eagle Bancorp, Inc. WV 8/21/1995 93.4 CB&T Westover Bank WV 4/2/1993 8.3 Financial Future Corporation WV 10/29/1992 17.5 Summit Holding Corporation WV 10/21/1991 22.0 Liberty Bancshares, Inc. WV 10/10/1991 12.0 First National Bank of Weirton WV 1/30/1990 4.0 Bank First, NA VA 12/8/1989 10.0 First Commercial Bank VA 3/7/1995 10.9 United is an experienced acquirer and integrator of banking franchises 14 transactions completed since 1990 representing more than $900 million in aggregate purchase value 27 transactions completed since 1982 Proven ability to extract cost savings Source: SNL Financial

Cost Savings Opportunities Sources of Estimated Cost Savings Pre-Tax Total (mm) Compensation and Benefits 5.8 General, Administrative and Other 2.5 TOTAL ESTIMATED COST SAVINGS $8.3 Represents 30% of PREM s Pre-Tax Operating Expenses

Internal Rate of Return Analysis Purchase Price $200,748 One-time Transactions Costs (after-tax) $6,435 Long-term Growth Rate 10.00% Terminal Multiple 15.0x Annualized Stub Period Projected Cash Flows (Dollar Values in Thousands) 12/31/2007 12/31/2008 12/31/2009 12/31/2010 12/31/2011 PREM Projected Net Income $9,751 $10,287 $11,316 $12,447 $13,692 Projected Cost Savings (After-Tax $4,916 $5,363 $5,363 $5,363 $5,363 TOTAL $14,666 $15,649 $16,678 $17,810 $19,054 PROJECTED IRR 13.7%

Summary Enhances existing United footprint in Virginia Adds to United s Metro DC Franchise Achievable cost savings assumptions Opportunity to enhance profitability by bringing United s proven track record of operating efficiency to Premier Ability to leverage existing United infrastructure Accretive to 2008 EPS and beyond Consistent balance of organic and acquired growth while elevating long-term growth rate

UBSI Continues to be a Compelling Investment Ranked 22nd out of 150 largest US bank holding companies based on profitability, capital adequacy and credit quality. Entered the Virginia / Washington, DC market with the 1990 acquisition of Bank First, NA of McLean. An investment of $100,000 in 1990 would have been worth $1.125 million at 12/31/06, including dividend appreciation Management and Board interests are strongly aligned with other shareholders - Insider ownership totals approximately 20% versus 3.4% peer average 2006 represented the 33 rd consecutive year of dividend increases for United Shareholders

Experienced Management Team with Proven Track Record

United is a well-managed institution that has earned its reputation as one of the top performing regional banks of its size in the country. - Keefe, Bruyette & Woods

Execution Sales Risk Management Expense Control

Thinking Like An Owner % of Ownership by Employees and Directors Approximately 20%

Executive Officers Name Title Age # of Shares Richard Adams Chairman & CEO 60 813,471 Steve Wilson Chief Financial Officer 58 224,179 Jim Hayhurst Chief Credit Officer 60 150,730 Jim Consagra EVP, United-VA 45 77,692 Joe Wilson Chief Retail Officer 58 151,774

High Performance Banking Company with a Low Risk Profile

United Bankshares, Inc. Efficiency Ratio 59.68% 58.74% 56.15% 58.26% 58.01% 57.04% 49.12% 46.93% 43.51% 41.45% FY03 FY04 FY05 FY06 2Q07 UBSI $5-10 Billion

United Bankshares, Inc. Noninterest Expense/Average Assets 3.06% 3.04% 2.95% 2.89% 2.74% 2.67% 2.17% 2.06% 1.98% 1.87% FY03 FY04 FY05 FY06 2Q07 Source: SNL Financial UBSI $5-10 Billion

UBSI Deposit Market Share Established Foundation in West Virginia.. Market Share Ranking # of Counties Average Market Share # 1 or #2 9 41% #3 or #4 7 14% > # 5 4 5% Growth Opportunities in Virginia. Market Share Ranking # of Counties Average Market Share # 1 or #2 0 0% #3 or #4 1 13% > # 5 8 2%

The foundation for United s growth via acquisition is likely to be in Northern Virginia/Washington, DC The Northern Virginia/ Washington, DC area represents the greatest amount of acquirable deposits for UBSI. 2x the level of UBSI s next five largest markets combined. Wheeling 8.4% Huntington 4.7% Weirton 1.7% Charleston 9.3% 41.1% Parkersburg 11.5% No MSA 23.3% Northern Virginia/ Washington, DC

Dividend Overview 33 Consecutive Years of Dividend Increases 1974-2006

1050 850 650 450 250 50 UNITED BANKSHARES, INC. 15 Year Total Return Analysis 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 UBSI S&P 500 S&P Banking Index

Where Do We Want To Go?

Target M&A opportunities in Maryland, Ohio, Virginia, D.C. and West Virginia Return on Tangible Equity over 20% Implement High Performance Sales and Service Program

How Do We Get There?

We Have A Balanced Strategy For Growing Net Income and Shareholder Value! Sales and Service Expense Control Risk Management Capital Management Mergers & Acquisitions

Why Own United? Experienced management team with a proven track record High level of insider ownership High-performance bank with a low-risk profile Efficient organization Excellent franchise with strong growth prospect Superior long-term total return to shareholders

THE CHALLENGE TO BE THE BEST NEVER ENDS

This presentation may contain forward-looking statements about United Bankshares, Inc., which we believe are within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain certain forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of United including statements preceded by, followed by or that include the words believes, expects, anticipates or similar expressions. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) competitive pressures among depository institutions increase significantly; (2) changes in interest rate environment reduce interest margins; (3) prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions, either national or in the states in which United does business, are less favorable than expected; (5) legislative or regulatory changes adversely affect the businesses in which United is engaged; (6) changes in the securities markets. Further information on other factors, which could affect the financial results of United, are included in United s filings with the Securities and Exchange Commission. These documents are available free of charge at the Commission s website at www.sec.gov and/or from United. Sept 2007