Union Bankshares To Offer $62.5 Million Of Common Shares

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September 8, 2009 (FinancialWire) -- Union Bankshares Corp. (NASDAQ: UBSH) (Current Market Cap: $197.53 Mil.) plans to offer and sell around $62.5 million in common stock. Keefe, Bruyette & Woods will act as lead book-running manager.

The company plans to grant the underwriters an option to purchase up to an additional 15% of the shares sold to cover over-allotments.

Union Bankshares plans to use the net proceeds from the offering for general corporate purposes and the possible repurchase of the U.S. Treasury Capital Purchase Program funds.

Bowling Green, Virginia-based Union Bankshares is a multibank holding company providing financial services through its three community banks, Union Bank and Trust company, Northern Neck State Bank and Rappahannock National Bank.

Union's current market area stretches from Rappahannock County to Fredericksburg and north to Fairfax, south to Richmond, east to Williamsburg, west to Charlottesville and throughout the Northern Neck area of Virginia.

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