Union Bank & Trust Completes Integration of Xenith Bank
May 29 2018 - 9:00AM
Union Bank & Trust (“Union”) today announced that it
successfully integrated Xenith Bank into Union over the past
weekend.
“Following a detailed playbook to ensure a smooth transition,
our teammates have been working diligently on the data conversion
and systems integration of Xenith since last year and I am pleased
to say that all systems are go,” said John C. Asbury, President and
Chief Executive Officer of Union. “As a customer-first bank,
providing a positive banking experience continues to be a major
focus for us. Through communication, training and testing, we
are successfully making it easier to bank with Union.”
The merger with Xenith strengthens Union’s presence in Greater
Hampton Roads, and adds to its Richmond and Northern Virginia
footprints. With systems integration complete, Union now has
the fourth largest branch network in Virginia with a statewide
footprint across the Commonwealth and retail entry points in North
Carolina and Maryland.
“From the beginning we knew that our two companies are stronger
together and our combined statewide footprint brings added
conveniences to our customers and positions us as the first
Virginia-based regional bank in twenty years,” said
Asbury.
As previously noted, three branches in the Richmond area closed
as part of the conversion, and Union will do business in North
Carolina as Xenith Bank, a division of Union Bank & Trust of
Richmond, Virginia.
ABOUT UNION BANKSHARES CORPORATIONHeadquartered
in Richmond, Virginia, Union Bankshares Corporation (NASDAQ:UBSH)
is the holding company for Union Bank & Trust, which has 147
branches, 7 of which are operated as Xenith Bank, a division of
Union Bank & Trust of Richmond, Virginia, and approximately 216
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., Old Dominion Capital Management, Inc. and Dixon, Hubard,
Feinour, & Brown, Inc., which both provide investment advisory
services, and Union Insurance Group, LLC, which offers various
lines of insurance products.
Contact: Investors: Bill
Cimino (804) 448.0937, VP and Director of Investor RelationsMedia:
Beth Shivak, (804) 327.5746, VP and Director of Corporate
Communications
Union Bankshares Corp (NASDAQ:UBSH)
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