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 agreed in June to buy StellarOne (STEL) in Charlottesville, Va., for $445 million. Union First's third-quarter earnings fell 13% from a year earlier, to $7.9 million.

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