first market bank richmond

Union First Market Bank at Staples Mill Road, Richmond VA - Branch location, hours, phone number, holidays, and directions. Union First Market Bank,, 7035 Three Chopt Road, Richmond, VA 23226. Richmond-based First Market Bank, majority-owned by Ukrop's Super Markets Inc. and members of the Ukrop family, will merge into Union.

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Old08-07-2012, 08:09 AM

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We recently moved to Woodlake in Midlothian and need to open a checking account. I'm looking for bank recommendations - how are Union First Market and Bank of Virginia? I'm not interested in the "big box" banks - would like more personal service (or at least the "illusion" of personal service ).
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Old08-07-2012, 11:03 AM

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Union First Market Bank.

I worked with them for 2 years and now work at another bank but refused to switch my accounts. I have all my accounts with Union.

They have nearly 100 branches around VA, the checking account is free (as far as no minimum requirements, etc.), the in-store branches inside Martin's are open until 7pm M-F and 9-2PM on Saturdays. You can customize your debit card with a picture you want for free. Online banking is a breeze and very easy to use. I don't have a single complaint about them. Any deposit before 2PM (whether check or cash) are available immediately for your use.

Union prides themselves as being the biggest community bank in Virginia.

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Old08-07-2012, 12:10 PM

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Terms & Conditions

© 1997–2021 First Republic Bank. provides information to clients about their accounts and financial services by First Republic Bank and its affiliates.

Banking products and services are offered by First Republic Bank, Member FDIC and Equal Housing Lender

Investment Advisory services are provided by First Republic Investment Management, Inc. Trust and Fiduciary services are offered through First Republic Trust Company, a division of First Republic Bank; and First Republic Trust Company of Delaware LLC and First Republic Trust Company of Wyoming LLC, both wholly owned subsidiaries of First Republic Bank. Brokerage services are offered through First Republic Securities Company, LLC, Member FINRA/SIPC. Insurance services are provided through First Republic Securities Company, DBA Grand Eagle Insurance Services, LLC, CA Insurance License #0I13184, and First Republic Investment Management, DBA Eagle Private Insurance Services, CA Insurance License #0K93728.

Investment, Insurance and Advisory Products and Services, and Foreign Exchange Transactions, are Not FDIC Insured or Insured by Any Federal Government Agency, Not a Deposit, Not Bank Guaranteed and May Lose Value.


First Bank Names Matt Paciocco as Regional Market Executive for Richmond Market

STRASBURG, Va., Sept. 30, 2021 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), announced today that Matt Paciocco has been named First Bank’s Regional Market Executive for the Richmond area. The Richmond banking leader brings an experienced team in his new role leading the commercial growth strategy for the market. Paciocco’s extensive experience includes working with several banks in the market as well as active involvement in several non-profit organizations. First Bank also entered into a Purchase and Assumption Agreement, dated September 30, 2021, to purchase a portfolio of loans and certain assets associated with a branch office of Knoxville, Tennessee-based SmartBank located in the Richmond market, where Paciocco and his team have been operating.

“At First Bank, we believe banking is a people business and Matt Paciocco and his team share our values and understand the importance of reliable personal relationships,” said Scott Harvard, CEO of First Bank. Harvard continued, “Combining Matt’s team with our legacy team that has been led by Andy McLean will create a cohort of bankers that embrace our values and know the Richmond market well. Matt is actively involved in the community, serving as the Chairman of Richmond Resources for Independent Living, on the Longwood University College of Business and Economics Advisory Board, The Richmond Golf Association, Central Virginia Resource Corporation, and various committees and councils of ChamberRVA.”

Paciocco commented, “Richmond is a fast-growing, dynamic market, with a vibrant supportive non-profit community. My entire career has been focused on serving the needs of Richmond businesses by being a trusted advisor that customers can count on. This new role will allow our team to continue serving the community that has supported us over the years.”

The terms of the Purchase and Assumption Agreement provide for First Bank to acquire approximately $83 million in loans and, substantially all fixed assets related to SmartBank’s Richmond branch. The terms of the agreement also provide for First Bank to assume the facility lease of the branch office located at 4421 Cox Road in Glen Allen, Virginia. First Bank paid a premium based on a specific percentage of the loans sold. The fixed assets were acquired at SmartBank’s book value. Additionally, the SmartBank employees from this location, including Paciocco, are transitioning to become employees of First Bank. First Bank will not assume any deposit liabilities from SmartBank in connection with the transaction and SmartBank intends to close their branch operation on December 31, 2021. First Bank will continue to operate a loan production office from the location after the SmartBank branch is closed. First Bank’s assumption of the lease and acquisition of the remaining branch assets is expected to be completed in the fourth quarter of 2021, subject to customary closing conditions.


Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s future operations and are generally identified by phrases such as “the Company expects,” “the Company believes” or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including the rapidly changing uncertainties related to the COVID-19 pandemic and its potential adverse effect on the economy, our employees and customers, and our financial performance. For details on other factors that could affect expectations, see the risk factors and other cautionary language included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and other filings with the Securities and Exchange Commission.


First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website,, its mobile banking platform, a network of ATMs located throughout its market area, two loan production offices, a customer service center in a retirement community, and 20 bank branch offices located throughout the Shenandoah Valley, the central regions of Virginia, and the Richmond and Roanoke market areas. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance.


Scott C. HarvardM. Shane Bell
President and CEOExecutive Vice President and CFO
(540) 465-9121(540) 465-9121
[email protected][email protected]


Searching for Union First Market Bank Headquarters Richmond Va info? You have come to exactly the right place. We collected all data about Union First Market Bank Headquarters Richmond Va.

Union First Market Bank Locations and Hours in Richmond, VA
    Richmond. Branch addresses, phone numbers, and hours of operation for Union First Market Bank in Richmond VA. Union First Market Bank Richmond VA 2250 John Rolfe Parkway 23233 804-364-4136. Union First Market Bank Richmond VA 1601 Willow Lawn Drive 23230 804-254-4125.

Union First Market Bank in Richmond, VA 23225 - Hours Guide
    Union First Market Bank. in Richmond, VA 23225. Hours Guide Union First Market Bank Virginia Richmond 23225. 7045 Forest Hill Ave. Richmond , Virginia 23225. Get Directions.4/5(36)

Union First Market Bank Locations and Hours in Virginia
    Union First Market Bank Montross VA 17191 Kings Highway 22520 804-493-9301 Union First Market Bank Glen Allen VA 9645 West Broad Street 23060 804-549-5463 Union First Market Bank Midlothian VA 13700 Hull Street Road 23112 804-739-1657 Union First Market Bank Mechanicsville VA 8300 Bell Creek Road 23116 804-559-7993

Union First Market Bank in Richmond, VA - Yellow Pages
    Credit Unions ATM Locations Banks. Website. (757) 877-2444. 1201 Broad Rock Blvd. Richmond, VA 23249. From Business: 1st Advantage is the Virginia credit union that offers full banking services and ATM access for your convenience. Friendly professionals at our …

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    Atlantic Union Bank, located in Virginia and beyond, offers a wide range of financial solutions including checking accounts, savings accounts, business loans and more. Bank online or visit one of our conveniently located branches or ATMs today.

Union First Market Bank changes name - Richmond News
    Apr 29, 2021 · The First Market name in Union First Market Bank has been retired. The financial institution is now Union Bank & Trust. The Richmond-based company announced Monday that …

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Forcht Bank recently announced the addition of Charles “Chuck” Keller to the Forcht Bank, Richmond market. He is the first Relationship Officer for the bank’s new Richmond market.

Keller, a graduate of Laurel County High School, has been in banking since 1984. He attended Eastern Kentucky University, Sue Bennett and Union College. He attended graduate school in Memphis, Tennessee at the Mid-South School of Banking receiving his diploma in 2004.

“I have been a banker in Madison County since 1988, and am excited to join Bill Walters and the rest of the Forcht Bank staff,” said Keller. “With the Bank being located in the Richmond Centre, it should allow us to conveniently and effectively serve the citizens and communities of Madison County.”

Forcht Bank’s Richmond Market President Bill Walters is happy with the move. “We are pleased to have Chuck be the first to join me in creating the staff for Richmond,? Walters continued, “He is a professional, knowledgeable banker that will help the bank and most importantly the citizens of Madison County with their banking needs.”

Away from the office, Chuck currently sits on the Board of Directors of the Richmond Chamber of Commerce. He also is on an advisory panel for the Battlefield Golf Club which is owned by the county. Previously, Chuck held the positions of President for the Richmond Chamber of Commerce and President of the Richmond Area Arts Council.

The Forcht Bank Richmond Banking Center is currently under construction. Until then Chuck can be reached daily at the Forcht Bank Main Office in Lexington. His phone number is 859-200-5646 and his email address is [email protected]


Forcht Bank ( operates 33 banking centers in Fayette, Jefferson, Boone, Grant, Taylor, Pulaski, Laurel, Whitley, Knox, McCreary, Green and soon Madison County. Forcht Bank is owned by Terry E. Forcht, the 2008 Excellence in Entrepreneurship Award Winner given by Eastern Kentucky University. Forcht Bank currently has more than $1 billion in assets, placing it among the top 10 banks based in Kentucky according to the Federal Deposit Insurance Corporation (FDIC).


First Market Bank in Richmond, VA 23235 Directions, Business Hours, Phone and Reviews
9030 Stony Point Pkwy # 350, Richmond, Virginia 23235 (VA)       (804) 327-7501

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Union First Market Bank in Richmond, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

060753Union First Market Bank111 Virginia Street, Suite 200, Richmond, VA 23219November 04, 1997Full Service Brick and Mortar1290706Short Pump Crossing Branch3460 Short Pump Road, Richmond, VA 23233November 04, 1997Full Service Retail2290707Bermuda Square/Chester Branch12601 Jeff Davis Highway, Chester, VA 23831November 04, 1997Full Service Retail3290708Harbour Pointe Branch13700 Hull Street Road, Midlothian, VA 23112November 04, 1997Full Service Retail4290709The Village Branch7035 Three Chopt Road, Richmond, VA 23226November 04, 1997Full Service Retail6290711Chesterfield Crossing Branch11361 Midlothian Turnpike, Richmond, VA 23235November 04, 1997Full Service Retail8290713Ashland Ukrops253 North Washington Highway, Ashland, VA 23005June 02, 1998Full Service Brick and Mortar9290714Mechanicsville Ukrops Branch7324 Bell Creek Road South, Mechanicsville, VA 23111December 04, 1997Full Service Brick and Mortar10290715Sycamore Square Branch1220 Sycamore Square, Midlothian, VA 23113June 02, 1998Full Service Brick and Mortar11290716Brook Run Branch5700 Brook Road, Richmond, VA 23227December 04, 1997Full Service Brick and Mortar12290717Gayton Crossing Branch9782 Gayton Road, Richmond, VA 23233June 02, 1998Full Service Brick and Mortar13290718Chippenham Crossing Center Branch5201 Chippenham Crossing Center, Richmond, VA 23234June 02, 1998Full Service Brick and Mortar14290719Westpark Branch9645 West Broad Street, Glen Allen, VA 23060December 04, 1997Full Service Brick and Mortar15290720Bon Air Branch9027 Forest Hill Avenue, Richmond, VA 23235April 01, 1998Full Service Brick and Mortar16290721Willow Lawn Branch1601 Willow Lawn Dr., Suite 701, Richmond, VA 23230September 08, 1998Full Service Brick and Mortar17290722Laburnum Branch4390 South Laburnum Avenue, Richmond, VA 23231September 08, 1998Full Service Brick and Mortar19290724Williamsburg Branch4660 Monticello Avenue, Williamsburg, VA 23188November 03, 1998Full Service Brick and Mortar21356504Stony Point Branch3000 Stony First market bank richmond, Richmond, VA 23236September 08, 1998Full Service Brick and Mortar22361284Virginia Center Branch10150 Brook Road, Glen Allen, VA 23060November 02, 1999Full Service Retail243612863556 West Cary Street Branch3556 West Cary Street, Richmond, VA 23221January 21, 2000Full Service Brick and Mortar26419043Virginia Street Branch111 Virginia Street Suite 200, Richmond, VA 23219December 10, 2001Full Service Brick and Mortar27462073Chesterfield Meadows Branch6401 Centrailia Road, Chester, VA 23831November 01, 2004Full Service Brick and Mortar28462074Crossridge Branch10250 Staple Mill Road, Glen Allen, VA 23060November 11, 2003Full Service Brick and Mortar29462235Colonial Heights Branch3107 Boulevard, Colonial Heights, VA 23834November 04, 1997Full Service Brick and Mortar30462236Brandermill Branch6030 Harbour Park Dr, Midlothian, VA 23112July 15, 2002Full Service Brick and Mortar31462237Midlothian Turnpike Branch11101 Midlothian Turnpike, Richmond, VA 23235June 01, first market bank richmond Service Brick and Mortar32462238Stratford Hills Branch7045 Forest Hill Ave, Richmond, VA 23225May 01, 2005Full Service Brick and Mortar33462240Bell Creek Road Branch7279 Bell Creek Road, Mechanicsville, VA 23111January 01, 2005Full Service Brick and Mortar35462242Twin Lakes Branch1975 Jeff Davis Hwy, Fredericksburg, VA 22401July 01, 2004Full Service Brick and Mortar37462244John Rolfe Pkwy Branch2250 John Rolfe Parkway, Richmond, VA 23233December 02, 2003Full Service Brick and Mortar38463357Dumbarton Branch7129 Staples Mill Road, Richmond, VA 23228Febuary 10, 2003Full Service Brick and Mortar39492550Cave Springs Branch3605 Eletric Road, Roanoke, VA 24018June 09, 2008Full Service Brick and First market bank richmond Park Branch3301 Shannon Park Drive, Fredericksburg, VA 22408May 27, 2008Full Service Brick and Mortar41495741Kenmore Avenue Branch725 Kenmore Ave., Fredericksburg, VA 22401October 20, 2008Full Service Brick and Mortar42495745West Broad Street Branch11263 W. Broad St., Glen Allen, VA 23060January 12, 2009Full Service Brick and Mortar44495776White Oak Branch4591 S. Laburnum Ave, Richmond, VA 23231October 07, 2008Full Service Brick and Mortar47495779Williamsburg Windsor Meade Branch4960 Monticello Ave, Williamsburg, VA 23188June 11, 2007Full Service Brick and Mortar487398Bowling Green Branch211 North Main Street, Bowling Green, VA 22427January 01, 1902Full Service Brick and Mortar49225053Ladysmith Branch7349 Ladysmith Road, Ladysmith, VA 22501May 18, 1970Full Service Brick and Mortar50225055Port Royal BranchU.S. Highway 301, Port Royal, VA 22535September 15, 1976Full Service Brick and Mortar51225056Four Mile Fork Branch4540 Lafayette Boulevard, Fredericksburg, VA 22408December 15, 1980Full Service Brick and Mortar52225057Ashland BranchU.S. Route 1 And State Route 657, Ashland, VA 23005September 05, 1984Full Service Brick and Mortar53225058Chancellor Branch4210 Plank Road, Fredericksburg, VA 22401May 12, 1986Full Service Brick and Mortar54225059Leavells Branch10415 Courthouse Road, Spotsylvania, VA 22553January 01, 1987Full Service Brick and Mortar55225060Atlee Branch9665 Sliding Hill Rd, Ashland, VA 23005July 17, 1989Full Service Brick and Mortar57249504Manquin BranchU.S. Route 360, Manquin, VA 23106January 08, 1973Full Service Brick and Mortar58225062Hanover Commons Branch9534 Chamberlayne Road, Mechanicsville, VA 23111April 17, 1995Full Service Brick and Mortar59225063Falmouth Branch622 Cambridge Street, Falmouth, VA 22405March 15, 1996Full Service Brick and Mortar60225065Fall Hill Branch2811 Fall Hill Avenue, Fredericksburg, VA 22401June 22, 1998Full Service Brick and Mortar61225067Mechanicsville Branch6479 Mechanicsville Turnpike, Mechanicsville, VA 23111September 21, 1998Full Service Brick and Mortar6214970King George BranchState Route 3, King George, VA 22485June 17, 1974Full Service Brick and Mortar63218506Colonial Beach BranchState Route 205, Colonial Beach, VA 22443October 15, 1973Full Service Brick and Mortar64419639Thornburg Branch5510 Morris Road, Spotsylvania, VA 22553August 19, 2002Full Service Brick and Mortar65431409Parham Road Branch1773 Parham Road, Richmond, VA 23229March 22, 2004Full Service Brick and Mortar66431411Genito Branch11101 Hull Street, Midlothian, VA 23112June 30, 2004Full Service Brick and Mortar6744907Pantops Branch1658 State Farm Boulevard, Charlottesville, VA 22901Febuary 05, 1981Full Service Brick and Mortar68286702Main Street Branch400 East Main Street, Charlottesville, VA 22902Febuary 05, 1981Full Service Brick and Mortar69286703Charlottesville Branch2151 Barracks Road, Charlottesville, VA 22903June 30, 1986Full Service Brick and Mortar70286705Rio Road Branch1700 Seminole Trail, Charlottesville, VA 22901July 01, 1997Full Service Brick and Mortar71286707Lake Monticello BranchRt. 9, Box 5299, Palmyra, VA 22963November 05, 1998Full Service Brick and Mortar72360967Forest Lakes Branch3290 Worth Crossing, Charlottesville, VA 22911Febuary 07, 2001Full Service Brick and Mortar73419409Lovingston Branch124 Main Street, Lovingston, VA 22949March 15, 2003Full Service Brick and Mortar74442510Pole Green Branch8300 Bell Creek Road, Mechanicsville, VA 23116December 13, 2004Full Service Brick and Mortar75442511Sycamore Square Branch13700 Midlothian Turnpike, Midlothian, VA 23113May 26, 2005Full Service Brick and Mortar77457800Twin Hickory Branch11163 Nuckols Road, Glen Allen, VA 23059December 11, 2006Full Service Brick and Mortar7836156West Springfield Branch5803 Rolling Road, Springfield, VA 22152October 06, 1986Full Service Brick and Mortar79260401Central Branch6975-A Springfield Boulevard, Springfield, VA 22150April 30, 1990Full Service Brick and Mortar80362170Burke Branch6050-A Burke Commons Road, Burke, VA 22015September 18, 2000Full Service Brick and Mortar81478950Harrison Crossing Branch5831 Plank Road, Fredericksburg, VA 22407December 10, 2007Full Service Brick and Mortar82419371Ivy Road Branch2208 Ivy Road, Charlottesville, VA 22903Febuary 10, 2003Full Service Brick and Mortar8362052Newport News Branch603 Pilot House Drive, Newport News, VA 23606Febuary 11, 1999Full Service Brick and Mortar84365205Route 5 Branch5125 John Tyler Highway, Williamsburg, VA 23185May 20, 2002Full Service Retail85443064Monticello Branch171 Monticello Ave, Williamsburg, VA 23185January 24, 2005Full Service Brick and Mortar86453341Grafton Branch5030 George Washington Memorial Hwy, Grafton, VA 23692March 06, 2006Full Service Brick and Mortar87493360Staples Mill Square Branch8983 Staples Mill Road, Henrico, VA 23228March 03, 2009Full Service Brick and Mortar88493831Cosner's Corner Branch10131 Jefferson Davis Highway, Fredericksburg, VA 22407October 27, 2008Full Service Brick and Mortar894654Rappahannock Bank Branch7 Bank Road, Washington, VA 22747January 01, 1902Full Service Brick and Mortar90465911Front Royal Branch473 South Street, Front Royal, VA 22630November 27, 2006Full Service Brick and Mortar91469171Warrenton Branch37 E. Main Street, Warrenton, VA 20186September 10, 2007Full Service Brick and Mortar92469172Millwood Branch1095 Millwood Pike, Winchester, VA 22602September 10, 2007Full Service Brick and Mortar93469173Middleburg Branch101 W. Washington Street, Middleburg, VA 20117September 10, 2007Full Service Brick and Mortar94469175Broadview Branch216 Broadview Avenue, Warrenton, VA 20186September 10, 2007Full Service Brick and Mortar956385Warsaw Branch5839 Richmond Rd, Warsaw, VA 22572May 09, 1909Full Service Brick and Mortar96221667Montross Branch17191 King's Hwy, Montross, VA 22520October 26, 1989Full Service Brick and Mortar97283862Tappahannock Branch1649 Tappahannock Blvd, Tappahannock, VA 22560January 01, 1959Full Service Brick and Mortar98221668Tappahannock Wal*mart Branch1660 Tappahannock Blvd, Tappahannock, VA 22560October 30, 1996Full Service Retail99225135Reedville BranchMain Street, Route 360, Reedville, VA 22539June 03, 1968Full Service Brick and Mortar100225136Burgess Branch15043 Northumberland Highway, Burgess, VA 22432July 19, 1958Full Service Brick and Mortar101225137White Stone Branch485 Chesapeake Drive, White Stone, VA 22578June 03, 1968Full Service Brick and Mortar102225179Kilmarnock Branch284 North Main Street, Kilmarnock, VA 22482November 03, 1987Full Service Brick and Mortar103518475Berea Marketplace Branch1044 Warrenton Road, Fredericksburg, VA 22406March 21, 2011Full Service Brick and Mortar104521610Rosser Avenue Branch437 Tiffany Drive, Waynesboro, VA 22980June 27, 2011Full Service Retail105521611Staunton-Martins Branch1015 Richmond Road, Staunton, VA 24401June 27, 2011Full Service Retail106521612Stonewall Plaza Branch200 Rivandell Court, Winchester, VA 22603June 27, 2011Full Service Retail107521613Winchester Gateway Branch400 Gateway Drive, Winchester, VA 22603June 27, 2011Full Service Retail108521614Skyline Village Branch2035 E. Market Street, Harrisonburg, VA 22801June 27, 2011Full Service Retail110522010Fredericktowns Crossing Branch240 Elizabeth Drive, Stephens City, VA 22655June 27, 2011Full Service Brick and Mortar111522041Culpeper Colonnade Branch15371 Montanus Drive, Culpeper, VA 22701June 27, 2011Full Service Retail112285469Harrisonburg Main Branch440 South Main Street, Harrisonburg, VA 22801June 30, 1988Full Service Brick and Mortar

First Market Bank bought by Union Bankshares

firstmarketagainRichmond-based First Market Bank was acquired by Union Bankshares Corp. in an all-stock deal valued at about $100 million. The new holding company will move its headquarters from Bowling Green to Richmond, although that will only bring a few jobs downtown.

Union First Market Bankshares Corp., as the new entity will be named, will have 900 employees, according to company representatives who spoke at a news conference Monday morning.

First Market will remain its own brand, and Union Bankshares will retain the Union Bank & Trust brand. Customers might in the future have first market bank richmond to ATM machines at both banks without paying a fee.

The combined holding company will be able to shave 9 percent of combined costs, according to a first market bank richmond release. Union Bankshares President and Chief Executive G. William Beale said that in the past such deals have led to closures of duplicate branches but that it is not clear right now whether the new company what is investment banking definition close any of its 12 Richmond area Union Bank & Trust branches or whether First Market will close any of its branches.

Beale will remain president and chief executive of the combined company, and David Fairchild, the current First Market chief executive, will be president as well as remain the head of the First Market subsidiary.

Shareholders of First Market, which is privately held, will receive 6.7 million shares of Union common stock, which at $14 a share is worth $93.8 million. That gives them 33 percent of the shares, according to a news release. Markel Corp. will own an additional 10 million shares of preferred stock, according to Dave Fairchild.

The board of directors in the new company will be expanded to include James Ukrop, Steve Markel and Fairchild.

Combing banks can be tricky. In its annual report to stockholders, Union Bankshares said “the company may lose customers or the customers of acquired entities as a result of an acquisition; and that Company also may lose key personnel.”

First Market has 40 branches throughout Virginia, with 26 located inside Ukrop’s supermarkets. First Market is jointly owned by Markel Corp. and Ukrop’s Supermarkets. Union Bankshares Corp. has a larger geographic reach, with 58 locations. Of those, five are in Hanover County, four are in Henrico and three are in the Midlothian section of Chesterfield.

Bankers from both companies said they started discussing the deal in July.

“This didn’t have too much to do with the current turmoil,” Fairchild said. “The cost of regulation has gotten more expensive,” he said, adding that the combined bank will create cost savings.

Both banks received TARP money: Union Bankshares got $59 million, and First Market received $34 million. Beale said no TARP money was used in the all-stock deal.

With total assets of $1.3 billion and liabilities of $1.21 billion, the book value for First Market is $89.4 million. According to Investorpedia, the book value is the total value of the company’s assets that shareholders would theoretically receive if a company were liquidated, and thus a good barometer of a company’s current condition.

With Union Bankshares stock trading at about $14, that means the book to value ratio is just above 1:1. Banks traditionally have sold for closer to two times book value, according to several sources.

When asked why the multiple was lower, Fairchild said that those prices were paid 18 months ago and that as the Union Bankshares stock price grows, so will the multiple.

Sources said that a price below book value would suggest that the bank is in less than stellar shape, but that a 1:1 value is not, on its face, worrisome. They did say it might mean the owners doubt how much more growth there might be.

Neither chief executive said anything in a news conference about the quality of assets first market bank richmond the books, but it’s likely both banks will have to contend with souring mortgages and commercial loans.

Shares of Union Bankshares, which are publicly traded on NASDAQ, closed at $13.43, down 5.6 percent on the day. The Dow, meanwhile, closed down only 3.27 percent.

Some interesting nitty-gritty financial data about both banks:

According to fourth quarter data filed with the Office of Thrift Supervision, First Market Bank has $708.5 million in mortgage loans, including $48 million in 1-4 dwelling units, $16 million in multifamily dwelling units and $54 million in nonresidential property.

The bank also has $324 million in non-mortgage loans and $117 million in commercial loans. The bank has $1 million in repossessed assets, including $869,000 in land.

According to its SEC filings, Union Bankshares had at the end of last year $292 million in residential loans, $550 million in commercial loans and $403 million in construction loans. Their total real estate loans were valued at $1.5 billion. Net income in 2008 fell 26 percent from $19.7 million in 2007 to $14.5 million.

Union Bankshares Corp had assets of $2.03 billion and liabilities of $1.809 billion. That means its book value is around $221 million, or 2.4 times that of First Market Bank.

According to, Union Bankshares had trouble assets worth $22,711,000 at the end of 2008. defines trouble assets as “adding the amounts of loans past due 90 days or more, loans in non-accrual status and other real estate owned (primarily properties obtained through foreclosure).”

BizSense’s take on this deal:

The new entity has to consider closing Union Bank & Trust branches and converting those customers to First My citizens first bank login Bank, unless those branches were in parts of town where First Market didn’t already have a retail presence. Why would the new bank run competing branches against itself, after all? That would also cut the cost of those branches, which, with real estate and employees, is probably substantial.

First Market had a nice expansion strategy with Ukrop’s Supermarkets – but first market bank richmond that the supermarket chain is slowing its growth (closing a store outside Williamsburg and, if conditions don’t improve, possibly one in Roanoke), we wonder how valuable that partnership is. And when it looks to head into new markets, surely it wants to do so with only one of the brands.

This deal might also provide some liquidity for First Market’s owners. It’s hard to sell an entire bank, and a lot easier to sell shares of a publicly traded bank, although they will have some restrictions on first market bank richmond much they can sell and how soon.

Several Richmond firms help assemble the deal.

For Union Bankshares, Keefe Bruyette and Woods provided financial advice and LeclairRyan provided legal advice.

For First Market, Cary Street Partners provided financial advice and McGuireWoods legal advice.


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Base Rewards Tier: Earns (i) one (1) point for each dollar you spend for net retail purchases (gross retail purchases less any returns or credits), (ii) three (3) points for each dollar you spend first market bank richmond net retail purchases in the follow rewards category: gas stations (2 additional points on top of the 1 point per dollar earned on net retail purchases), (iii) two (2) points for each dollar you spend for net retail purchases in the following rewards categories: restaurants and travel (airlines, auto rental, and lodging) (1 additional point on top of the 1 point per dollar earned on net retail purchases).

Rewards Categories: Merchants who accept Visa credit cards are assigned a merchant code, which is determined by the merchant or its processor in accordance with Visa procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making reward offers to you. We make every effort to include all relevant merchant codes in our rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for rewards offers on purchases in that category.

Businesses may earn up to 10,000 points per calendar month, excluding bonus points. Points earned are available for redemption for a 3 year term. Points expiring during the year will be cleared from the Program Account on the last day of the month in which they expire.

Rewards Redemption

Businesses in the Base Rewards Tier may redeem points for (i) cash back to a First Citizens checking or savings account or credit card statement credits, (ii) credit towards a First Citizens personal loan or mortgage principal, (iii) Pay Me Back statement credits, (iv) travel rewards, including airline tickets, hotel, car rentals, cruises and tours, (v) retail gift cards and certificates and (vi) merchandise and (vii) donations.

These Terms are only a summary. Other restrictions and requirements apply. The full First Citizens Rewards® Program Rules will be provided upon enrollment and are accessible via the program website at at log in.

Program Rules are subject to change or cancellation without notice.


First Market Bank in Richmond, VA 23235 Directions, Business Hours, Phone and Reviews
9030 Stony Point Pkwy # 350, Richmond, Virginia 23235 (VA)       (804) 327-7501

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First Market Bank

Main SIC Category

  • Real estate agents and managers
  • Business Services
  • Educational services
  • Membership organizations
  • Eating and drinking places
  • Miscellaneous Services, Not Cla.
  • Non
  • Engineering, accounting, resear.
  • Miscellaneous retail
  • Home furniture, furnishings, an.
  • Wholesale trade
  • Printing and publishing
  • Building construction
  • Social services
  • Amusement and recreation services
  • Health services
  • Personal services
  • Hotels, rooming houses, camps. .
  • Building materials, hardware, g.
  • Construction
  • Executive, Legislative, and Gen.
  • Nondepository credit institutions
  • Insurance agents, brokers, and .
  • Automotive dealers and gasoline.
  • Communications
  • Post Service
  • Depository institutions
  • Legal services
  • Security and commodity brokers.
  • Motor freight transportation an.

Navigation:Home > Virginia > Richmond > First Market Bank

First Market Bank is a company Located at Richmond,Virginia,United States with a telephone number 8042716268, (804)271-6268.Provided Depository institutions products and service.

Contact Info

  • First Market Bank
  • SIC Code: 602101 - Banks
  • SIC Category:Depository institutions
  • Country :United States
  • City:Richmond
  • State:Virginia - VA
  • Address:5201 Chippenham Crossing Ctr
  • Zipcode:23234-6901 (23234)
  • Tel:8042716268, (804)271-6268


Map of First Market Bank, address:5201 Chippenham Crossing Ctr,Richmond,Virginia,United States.


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