Union First Market receives regulatory approval for StellarOne merger Union First Market Bankshares announced that it received regulatory approval from the Federal Reserve Bank of Richmond and from the Virginia State Corporation Commission to move forward with its acquisition of StellarOne. "We are delighted to have received all of the regulatory approvals needed to proceed with the acquisition," said G. William Beale, CEO of Union First Market Bankshares. "The integration teams are hard at work building the next great Virginia bank and we remain on track to close the acquisition in early January 2014."
News For UBSH From The Last 14 Days
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Union First Market holders approve StellarOne merger At separate special meetings, shareholders of both Union First Market Bankshares and StellarOne approved the merger agreement pursuant to which Union will acquire StellarOne. Union shareholders also approved the proposal to increase the number of authorized shares of Union common stock from 36M to 100M. All regulatory approvals have been received and the acquisition is expected to close on January 1.
Union First Market to host special shareholder meeting Special Shareholder Meeting to consider and vote on the merger between the Company and StellarOne (STEL) is being held in Ruther Glen, Virginia on November 26 at 2 pm.