Union First Market Bankshares buying StellarOne

Union First Market Bank has just announced it is buying StellarOne, making it the largest community bank in Virginia, with combined assets of $7.1 billion.

The combined banks will operate under the Union First Market Bankshares name.

Union's leadership will run the bank from its Richmond headquarters with members of both bank boards sitting on a combined board of directors.

StellarOne has 50 full service financial centers and 60 ATM's across Virginia.