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Union First Market Bancshares (UBSH) in Richmond, Va., plans to remake its board and expand its executive team after acquiring StellarOne (STEL) in Charlottesville, Va.
December 17 -
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 -
Union First Market Bankshares in Richmond, Va., has agreed to acquire StellarOne in Charlottesville, Va.
June 10
Union First Market Bankshares (UBSH) in Richmond, Va., has taken a stake in a local payments firm.
The $7.1 billion-asset company has made an equity investment in The Payments Co. and will have a seat on its board, Union First announced Tuesday. It did not announce the size of its investment or of its ownership stake in the firm, which is privately held.
Businesses use Payments Co. software to make electronic payments to their vendors and employees.
"Union is pleased to make an investment in this rapidly growing Virginia payments processing company," G. William Beale, the bank's president and CEO, said in a news release. "The Payments Co. has been successful in developing effective business-to-business payment solutions for small and midsize companies, and Union is excited... to help it expand its capabilities in the large, but fragmented, B2B payments marketplace."
Union First bought StellarOne in Charlottesville, Va., on Jan. 1,
