First Market and Union Bank and Trust to merge operations

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Union Bank and Trust and First Market Bank will combine their operations and operate under a still-to-be-decided name after their parent companies merge next year.

The companies are expected to merge by the end of the year, and the banks should be combined during the first quarter of 2010. When the merger was first announced, First Market Bank was going to operate as a subsidiary under United First Market Bankshares Corp.

The bank will become the largest community bank in Virginia with more than $4 billion in assets. (Richmond Times-Dispatch)

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