A regional bank with branches in the Valley is seeking money from the government as part of the federal bailout program.

However, according to the managers, the bank is not in dire financial straits. In fact, they say it's because they're doing well that they qualify for this money.

United Bank is seeking almost $200 million in taxpayer money. Bank managers say the move is all part of a wider effort to stabilize the credit market.

According to Steven Wilson, chief financial officer for United Bankshares Inc., they're seeking this money under the government's Capital Purchase Program. It's a voluntary program for financially sound banks.

United Bankshares Inc. has received preliminary approval for $197.28 million from the government. If approved, the U.S. Treasury Department would use taxpayer money to buy stock in the bank, to boost capital, and spur lending.

Wilson says this move is aimed at helping them to lend out more money to consumers.

"[The government needs] to make sure that credit is available because as banks have trouble and as other banks are unable to lend, they need to go to those most healthy banks and encourage anything they can do to get them to lend even more," says Wilson.

Wilson says the bank expects to pay this money back within five years. The company plans to have a shareholder vote on the subject on December 23.