Union Bankshares Corp. (UBSH), announced that it received regulatory approval from the Federal Reserve Bank of Richmond to proceed with its merger with First Market Bank, FSB. Union Bankshares and First Market first announced their business combination in March 2009 and with this most recent approval in hand, the two financial organizations are ready to complete the First Market merger as early as February 1, 2010.
Upon the completion of the transaction, Union will change its name to Union First Market Bankshares Corporation and move its corporate headquarters to Richmond.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.