Union Bank to merge with Xenith Bank

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(WDBJ7) Union Bank is expanding.

The company announced Monday they will acquire Xenith Bank and merge into one company under the Union Bank name.

Union Bank has locations across Virginia, and they say the merger will allow them to branch out into North Carolina and Maryland.

“We expect that our combined statewide footprint will bring additional convenience to our customers and position us as a strong competitor against large regional institutions and smaller community banks alike – making us the preeminent community bank in Virginia,” said John C. Asbury, President and Chief Executive Officer of Union.

You can read the full news release here:
http://www.snl.com/irweblinkx/file.aspx?IID=100575&FID=2000691769