StellarOne Bank

stellarone corporation was a traditional community bank with assets of $3.01 billion and offered a full range of business and consumer banking services, including trust and wealth management services. through the activities of its sole subsidiary, stellarone bank, stellarone operated more than 50 full-service financial centers, two loan production offices, and more than 60 atms serving the new river valley, roanoke valley, shenandoah valley, richmond, tidewater, and central and north central virginia. on june 10, 2013 union first market bankshare corporation, now union bankshares (nasdaq: ubsh, or union), and stellarone corporation (nasdaq: stel, or stellarone) announced the signing of a definitive merger agreement, pursuant to which union would acquire stellarone, creating the largest community banking institution in the commonwealth of virginia, operating in all major virginia markets, deepening its presence in its current footprint and expanding in key trade areas. completion of union’s acquisition of stellarone corporation was announced on january 1, 2014, yet the organizations ran independent operations until the systems converted on may 12, 2014. presently, union has total assets of $7.1 billion, deposits of $5.7 billion and loans of $5.3 billion. as a combined organization, union operates in all major virginia markets, and has the fifth largest branch network in virginia.

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