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Actionable news in CFNL: Cardinal Financial Corporation,

United Bankshares Said in Talks to Buy Cardinal Financial

  • Deal between regional banks could be announced this week
  • Lenders have been consolidating as low rates curb profits

United Bankshares Inc. is in talks to acquire rival Washington-area lender Cardinal Financial Corp., according to people familiar with the matter, as regional banks seek to pair up to counter low interest rates and mounting regulatory costs.

United could announce a deal to buy Cardinal, which has total assets of $4.2 billion, as soon as this week, said the people, who asked not to be identified because the matter isn’t public. The transaction hasn’t been finalized and could still fall through, they said.