Union Bankshares Corporation Completes Acquisition of Access National Corporation; Intends to Rebrand its bank from Union Bank & Trust to Atlantic Union Bank
UNION BANKSHARES CORP C (UBSH)
Last union bankshares corp c earnings: 4/24 07:30 am
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Source: GlobeNewswire
RICHMOND, Va., Feb. 01, 2019 (GLOBE NEWSWIRE) -- Union Bankshares Corporation (“Union”) today announced the completion of its acquisition of Access National Corporation (“Access”). This transaction strengthens Union’s presence in Virginia’s most populous market, Northern Virginia. Logo to be used by Atlantic Union Bank effective upon brand change. Under the terms of the merger agreement, Access shareholders received 0.75 shares of Union common stock in exchange for each share of Access common stock they owned, with cash paid in lieu of fractional shares. Based on the $31.56 January 31, 2019 closing price of Union common stock, the deal value was approximately $500 million. “Access was the last piece of the jigsaw puzzle for Union to complete its Virginia footprint and further solidifies
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