Atlantic Union Bank
Atlantic Union Bank is a federal savings bank headquartered in Richmond, Virginia in the United States. It has 149 branches, all of which are in either Virginia, Maryland, or North Carolina.[1] It is the primary subsidiary of Atlantic Union Bankshares Corporation, a bank holding company.
 | |
| Type | Public company |
|---|---|
| NASDAQ: AUB Russell 2000 Index component | |
| Industry | Banking |
| Founded | November 4, 1997 as First Market Bank |
| Headquarters | Richmond, Virginia, United States |
Number of locations | 160 branches |
Area served | Virginia Maryland North Carolina |
Key people | John Asbury, CEO |
| Services | Financial services |
 $0.042 billion (Q1 2019) | |
| Total assets | $16.868 billion (2019) |
| Total equity | $2.706 billion (2019) |
| Website | www |
| Footnotes / references [1] | |
History
The bank was founded as First Market Bank on November 4, 1997 in Memphis, Tennessee as a joint venture between Ukrop's Food Group and National Commerce Bancorporation, later acquired by Suntrust Banks.[1]
In March 2005, the bank moved its headquarters to Richmond.[1]
In March 2006, SunTrust sold its 49% interest in the bank to Markel Corporation, a property and casualty insurer, for $82.6 million.[2]
On February 1, 2010, the bank merged with Union Bankshares.[3]
In March 2010, the bank changed its name to Union First Market Bank.[1]
In January 2014, the bank acquired StellarOne.[4]
In February 2015, the bank changed its name to Union Bank & Trust.[1]
In May 2019, the bank changed its name to Atlantic Union Bank.[1]
References
- "FDIC: Atlantic Union Bank". Federal Deposit Insurance Corporation.
- "Suntrust Banks, Inc. 2007 FORM 10-K". U.S. Securities and Exchange Commission.
- "UPDATE: Ukrop's-owned First Market Bank to merge with Union Bankshares". Richmond Times Dispatch. March 30, 2009.
- "Union First Market Bankshares Completes Acquisition of StellarOne Corporation" (Press release). PR Newswire. January 1, 2014.