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A number of recent deals in the state could spur more Virginia banks to buy or sell. However, big out-of-state buyers are unlikely to get involved because there are few large targets left.
June 19 -
Bank investors may be softening their antipathy for long earn-back periods. When Union First Market Bankshares promised five years of dilution but a big boost to earnings from its deal for StellarOne, its stock declined only a little.
June 10 -
Union First Market Bankshares in Richmond, Va., has agreed to acquire StellarOne in Charlottesville, Va.
June 10
Union First Market Bancshares (UBSH) in Richmond, Va., has expanded its chief executive's role.
The $4 billion-asset company said in a regulatory filing Tuesday that G. William Beale had also become its president, effective Oct. 1. He succeeded David Fairchild, who retired at the end of September.
Beale, 63, will retain his roles as CEO of the company and its bank. He had been CEO and president from 1993 to 2010, when Fairchild became president. Fairchild, 61, had been CEO of First Market Bank from 2003 to 2010, when it was bought by Union Bank. That merger created Union First Market Bank.
Union First
