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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