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Union Bankshares and Access National merger approved by shareholders

Jan. 15, 2019 12:13 PM ETAtlantic Union Bankshares Corporation (AUB) StockBy: Akanksha Bakshi, SA News Editor
  • Union Bankshares (UBSH +0.5%) and Access National (ANCX +0.5%) announced that shareholders of both the banks have approved the merger of Access with and into Union.
  • Under the terms of the merger agreement, Access shareholders will receive 0.75 shares of Union common stock for each share of Access common stock.
  • Based on financial data as of September 30, 2018, the combined company would have total assets of ~$16.4B, deposits of ~$12.1B and loans of ~$11.5B.
  • The transaction is expected to close by February 1, 2019.
  • Press Release

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