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Union Bankshares to acquire Access National Corporation in $610m deal

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Staff Writer | Monday October 8, 2018 5:57AM ET
Union Bankshares
Acquisition   The combined company would have total assets of $16.0 billion

Union Bankshares Corporation and Access National Corporation jointly announced that they have entered into a definitive merger agreement for Union to acquire Access in an all-stock transaction.


Combining the two organizations will create the leading Virginia-based regional bank with an unmatched presence across the Commonwealth.

Based on financial data as of June 30, 2018, the combined company would have total assets of $16.0 billion, total deposits of $11.9 billion and gross loans of $11.4 billion.

This transaction strengthens Union’s presence in Virginia’s most populous market, Northern Virginia.

 

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