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Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Union First Market Bank closing branch in city

Union First Market Bank is closing its Twin Lakes branch in Fredericksburg, company spokesman Bill Cimino said Tuesday.

The branch at 1975 Jefferson Davis Highway will close in the middle of May, Cimino said. Customers were notified last month.

Union First Market is also closing branches on Main Street in Port Royal, Ivy Road in Charlottesville and Bell Creek Road in Mechanicsville.

In its recently filed annual report, the bank’s Richmond-based parent says the closures resulted from a 2011 “performance and opportunity analysis” of the branch network. The report points out that affected customers can use other nearby branches or online and mobile services.

The bank owns all of the properties that are closing. Cimino said the bank would consider leasing the facilities, but he said they are generally sold.

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