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Business Insider

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 may repurchase stock

Union First Market Bankshares Corp. might buy back some of its own stock.

The Richmond-based bank’s Board of Directors recently authorized a program to repurchase up to 750,000 shares of the company’s common stock on the open market or in privately negotiated transactions at management’s discretion.

The repurchase program, which was announced Wednesday, is authorized through the end of 2013.

Union First Market is the second-biggest bank in the Fredericksburg area by customer deposits, trailing only BB&T.