Virginia Community Banks Combine In $445M Deal

Law360, New York (June 10, 2013, 6:41 PM EDT) -- Seeking to become more efficient and deal better with increasing regulatory requirements, Union First Market Bankshares Corp. on Monday announced it would acquire StellarOne Corp. in a $445 million stock transaction in the third-largest bank merger so far this year.

The merger will make the combined company, which will retain the Union name, the largest community bank in Virginia and will give the company a larger scale to both compete with rivals around the state and handle increased scrutiny from regulators, G. William Beale, Union's chief...
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