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

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StellarOne brand down to last two weeks

The StellarOne Bank brand is down to its last couple of weeks.

At the end of the business day May 9, all StellarOne branches will get the corporate branding now in place at Union First Market Bank. The branches will be closed May 10 for the conversion and reopen May 12 as Union. The bank has already started replacing signs.

Richmond-based Union First Market Bankshares Corp. at the beginning of the year completed the acquisition of StellarOne Corp., but the two brands have both continued to operate since then. Union shareholders recently voted to change the corporate name to Union Bankshares Corp.

The combined entity will rival BB&T as the largest bank in the Fredericksburg area by customer deposits.

Fifty-nine new positions are being added to Union’s operations center in Carmel Church as a result of the consolidation.

Five overlapping Fredericksburg-area bank branches, and 13 branches statewide, will close after May 9. Union will attempt to sell the branches that are being closed.

Permalink: http://news.fredericksburg.com/businessbrowser/2014/04/28/stellarone-brand-down-to-last-two-weeks/

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