Union Bank & Trust Announces Acquisition of Dixon, Hubard, Feinour, & Brown, Inc.
January 29 2018 - 8:30AM
Union Bank & Trust (“Union”) today announced that it has
entered into an agreement to acquire Dixon, Hubard, Feinour, &
Brown, Inc., a Roanoke, Virginia based registered investment
advisory firm with approximately $600 million in assets under
management and advisement.
Founded in 1981, Dixon, Hubard, Feinour, & Brown, Inc., will
operate as a stand-alone subsidiary of Union Bank &
Trust. The current principals and current employees will stay
with the firm, which will continue to operate from its current
offices in Roanoke. The acquisition, which is subject to
certain closing conditions and approvals, is scheduled to close
during the second quarter.
“We are very pleased to bring Dixon, Hubard, Feinour, &
Brown, Inc. under the Union umbrella while retaining the core
leadership team that helped build the firm,” said Robert P. Martin,
Union Wealth Management President for Union Bank & Trust.
“We want to expand the reach and capabilities of our wealth
management team by adding investment strategies, core competencies
and advisory talent in key markets. Dixon Hubard, Feinour, &
Brown, Inc. is one of the preeminent registered investment advisors
in Virginia and adds a strong team that will complement our ability
to offer broad financial solutions to our clients.”
“We’ve built our business by taking care of clients and
delivering investment results,” said C. Whitney Brown, Jr.,
President of Dixon, Hubard, Feinour, & Brown. “Partnering
with Union will keep us doing what we do best while gaining access
to the resources of Virginia’s only homegrown regional bank.
Union’s roots in our area and their community-based approach to
doing business make this a great fit.”
Union’s Wealth Management offers comprehensive wealth management
services including asset management, trust, estate planning,
private banking, brokerage and financial planning. With
Dixon, Hubard, Feinour & Brown, it will have more than $3.2
billion in assets under management and advisement with advisors
throughout the Commonwealth of Virginia.
ABOUT UNION BANKSHARES
CORPORATIONHeadquartered in Richmond, Virginia, Union
Bankshares Corporation (NASDAQ:UBSH) is the holding company for
Union Bank & Trust, which has 150 banking offices, 39 of which
are operated as Xenith Bank, a division of Union Bank & Trust
of Richmond, Virginia, and approximately 220 ATMs located
throughout Virginia and in portions of Maryland and North
Carolina. Union Bank & Trust also operates Shore Premier
Finance, a specialty marine lender. Non-bank affiliates of
the holding company include: Union Mortgage Group, Inc., which
provides a full line of mortgage products, Old Dominion Capital
Management, Inc., which provides investment advisory services, and
Union Insurance Group, LLC, which offers various lines of insurance
products.
FORWARD-LOOKING
STATEMENTSCertain statements in this report may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that include projections, predictions,
expectations, or beliefs about future events or results or
otherwise and are not statements of historical fact. Such
statements are often characterized by the use of qualified words
(and their derivatives) such as “expect,” “believe,” “estimate,”
“plan,” “project,” “anticipate,” “intend,” “will,” or words of
similar meaning or other statements concerning opinions or judgment
of the Company and its management about future events. Although the
Company believes that its expectations with respect to
forward-looking statements are based upon reasonable assumptions
within the bounds of its existing knowledge of its business and
operations, there can be no assurance that actual results,
performance, or achievements of the Company will not differ
materially from any future results, performance, or achievements
expressed or implied by such forward-looking statements. Actual
future results and trends may differ materially from historical
results or those anticipated depending on a variety of factors,
including, but not limited to, the effects of and changes in:
general economic and bank industry conditions, the interest rate
environment, legislative and regulatory requirements, competitive
pressures, new products and delivery systems, inflation, changes in
the stock and bond markets, accounting standards or interpretations
of existing standards, mergers and acquisitions, technology, and
consumer spending and savings habits. More information is available
on the Company’s website, http://investors.bankatunion.com and on
the Securities and Exchange Commission’s website, www.sec.gov. The
information on the Company’s website is not a part of this release.
The Company does not intend or assume any obligation to update or
revise any forward-looking statements that may be made from time to
time by or on behalf of the Company.
Contact: Bill Cimino
(804) 448-0937, VP and Director of Investor Relations
Union Bankshares Corp (NASDAQ:UBSH)
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