Union First Market Bankshares Corp. in Richmond, Va., said Tuesday that it has completed the integration of two affiliate banks, making it the largest community bank in Virginia.
The company consolidated Rappahannock National Bank of Washington and Northern Neck State Bank in Warsaw into its largest subsidiary, Union First Market Bank.
With the consolidation, the $3.3 billion-asset Union First Market gained assets of $530.3 million, based on June 30 financial reports. The consolidation was first announced in June and is the subset of a merger announced in March between Union Bank and Trust Co. and First Market Bank.
Both Rappahannock National and Northern Neck State were part of the company since the 1990s.
The consolidation is part of a bid to create greater efficiencies for Union First.
