Union Bankshares in Richmond, Va., will soon have a new bank president.
The $9 billion-asset Union said in a press release Tuesday that it had hired John Stallings to fill the position, effective Sept. 29. Stallings will oversee mortgages, retail banking, wealth management, marketing and commercial banking.
Stallings previously served as president and CEO of SunTrust Banks’ Virginia division. Stallings joined SunTrust when it bought National Commerce Financial, where he ran the retail banking division.
The hiring “will help make Union more nimble,” John Asbury, CEO of the company and the bank, said in the release.
“Realigning our executive leadership structure to accommodate our greater size should speed up the accomplishment of our financial and strategic objectives,” Asbury said. The move “enables me to put a greater focus on creating shareholder value through building and sustaining the company’s vision, mission, goals long term strategies and future state.”