Moody's changes United Bankshares view to stable

Moody's Investors Service said it changed the outlook on United Bank, Inc. and United Bank, the bank subsidiaries of United Bankshares, Inc., to stable from negative.

Moody's also affirmed the banks' ratings. The banks are rated C for bank financial strength, which maps to A3 on the long-term scale, and A3/Prime-2 for long- and short-term deposits.

Moody's said the outlook change reflects United's relatively strong and consistent performance since the beginning of the credit crisis.

United's asset quality performance has been better than Moody's expectations, particularly given the company's sizable commercial real estate concentration, which continues to stand at about 300% of tangible common equity, the agency said.

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