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Business Briefs - Nov. 20

November 20, 2011

All Land Services Inc.

CHAMBERSBURG, Pa. — All Land Services Inc. was selected for the 2011 Best of Chambersburg Award in the land surveyors category by the U.S. Commerce Association, or USCA.

The USCA’s Best of Local Business Award Program recognizes outstanding local businesses throughout the country.

Winners are determined based on the information gathered internally by the USCA and through data provided by third parties.



Sentinel Capital Solutions

Sentinel Capital Solutions’ grand opening was Nov. 10 on the third floor of the Tri-State building above Bulls & Bears restaurant in downtown Hagerstown.

Sentinel Capital Solutions is an SEC-registered investment adviser that provides asset-management solutions for individuals and institutions.

Sentinel was established on the concept that providing downside risk protection and participating in bull markets will result in a better bottom line for clients.

During the course of the evening, the first mutual fund managed in Washington County was unveiled.

Parking for Sentinel is available in the A&E parking garage in the rear of the building.



Antietam Technologies LLC

FREDERICK, Md. — Antietam Technologies LLC was awarded a subcontract as part of ASM Research’s Veterans Affairs Transformation 21 Total Technology, or T4, winning team.

Antietam Technologies will provide information assurance and cyber security-related professional services.

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OneMain Financial

For the month of November, the OneMain Financial branch at 122 Railway Lane in Hagerstown will be collecting nonperishable food to help feed those in need throughout the community. The collected food will be donated to St. Mark’s Lutheran Church in time to be distributed to local residents before the holidays.

As part of their Customer Appreciation Days, everyone who visits the OneMain Financial branch through Wednesday, Nov. 30, can enter a sweepstakes to win a digital picture frame and pick up a complimentary 2012 wall calendar.



United Bankshares Inc.

WASHINGTON, D.C. — United Bankshares Inc. reported earnings for the third quarter of 2011 were $20 million, or $0.40 per diluted share, while earnings for the first nine months of 2011 were $55.4 million, or $1.21 per diluted share.

Results from the third quarter of 2011 produced a return on average assets of 0.95 percent and a return on average equity of 8.26 percent, respectively. For the first nine months of 2011, United’s return on average assets was 0.98 percent, while the return on average equity was 8.62 percent.

The results for the third quarter and first nine months of 2011 included before-tax, other-than-temporary impairment charges of $7.9 million and $14.1 million, respectively, on certain investment securities. In addition, on July 8, 2011, United completed its acquisition of Centra Financial Holdings Inc. of Morgantown, W.Va. The results of operations of Centra are included in the consolidated results of operations from the date of acquisition.

As a result, comparisons for the third quarter and first nine months of 2011 to the same time periods of 2010 are impacted by increased levels of average balances, income, expense and asset quality results due to the acquisition. At consummation, Centra had assets of approximately $1.3 billion, loans of $1 billion, deposits of $1.1 billion and shareholders’ equity of $131 million.

Earnings for the third quarter of 2010 were $17.3 million, or $0.40 per diluted share, while earnings for the first nine months of 2010 were $52.7 million, or $1.21 per diluted share. The results for the third quarter and first nine months of 2010 included before-tax, other-than-temporary impairment charges of $1.9 million and $4.4 million, respectively, on certain investment securities. United’s annualized returns on average assets and average equity were 0.91 percent and 8.73 percent, respectively, for the third quarter of 2010, while the returns on average assets and average equity were 0.93 percent and 9.04 percent, respectively, for the first nine months of 2010.

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