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Section 1: 8-K (8-K)

Document


United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
 
FORM 8-K
________________________
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 31, 2019
 
UNION BANKSHARES CORPORATION
(Exact name of registrant as specified in its charter)
________________________
 
Virginia
0-20293
54-1598552
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
 
 
 

1051 East Cary Street
Suite 1200
Richmond, Virginia 23219
(Address of principal executive offices, including Zip Code)
________________________
 
Registrant’s telephone number, including area code: (804) 633-5031
________________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): 
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨





Item 8.01 Other Events.
 
On January 31, 2019, Union Bankshares Corporation (the “Company”) announced that its wholly-owned subsidiary, Union Bank & Trust (the “Bank”), has appointed Shawn E. O’Brien as the Bank’s Executive Vice President and Consumer Banking Group Executive, effective February 18, 2019.
 
On January 31, 2019, the Company issued a press release announcing the hiring of Mr. O’Brien. A copy of the press release is attached hereto as Exhibit 99.1.


  





Item 9.01 Financial Statements and Exhibits.
 
(d)
Exhibits.
99.1






SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
UNION BANKSHARES CORPORATION
 
 
 
 
 
 
 
 
 
 
 
 
 
Date: January 31, 2019
By:
/s/ Robert M. Gorman
 
 
 
Robert M. Gorman
 
 
 
Executive Vice President and
 
 
 
     Chief Financial Officer
 



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Section 2: EX-9.01 (EXHIBIT 9.01)

Exhibit
Exhibit 99.1

396571535_ubtlogoa25.jpg


Union Bank & Trust Names Shawn O’Brien Consumer Banking Group Executive

Richmond, Va., January 31, 2019 - Union Bank & Trust has named Shawn E. O’Brien Executive Vice President and Consumer Banking Group Executive with responsibility for all consumer banking branches and teammates effective February 18, 2019.

“Shawn brings significant retail banking experience to Union and will help us achieve our ambitious goals for growth,” said Maria P. Tedesco, president of Union Bank & Trust. “His detailed knowledge of branch networks and digital savvy will be a great addition to our leadership team. We’re thrilled to have him join our team.”

O’Brien, 46, was most recently Executive Vice President, Consumer Segment Group and Business Planning for BBVA Compass Bank where he was responsible for the bank’s consumer clients in branch and digital channels. He also held a variety of positions with increasing responsibility at BBVA Compass including: Deposit and Payment Products, Strategic Planning and Corporate Planning and Analysis. O’Brien began his banking career at Huntington National Bank in retail branch strategy and product management.

O’Brien received his M.B.A from The Ohio State University and his Bachelor of Philosophy from Miami University.
 
ABOUT UNION BANKSHARES CORPORATION
Headquartered in Richmond, Virginia, Union Bankshares Corporation (Nasdaq: UBSH) is the holding company for Union Bank & Trust. Union Bank & Trust has 140 branches, seven of which are operated as Xenith Bank, a division of Union Bank & Trust of Richmond, Virginia, and approximately 190 ATMs located throughout Virginia and in portions of Maryland and North Carolina. Non-bank affiliates of the holding company include: Old Dominion Capital Management, Inc. as well as its subsidiary Outfitter Advisors, Ltd., and Dixon, Hubard, Feinour, & Brown, Inc., all of which provide investment advisory services, and Union Insurance Group, LLC, which offers various lines of insurance products.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about future events or results or otherwise and are not statements of historical fact, are based on certain assumptions as of the time they are made, and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Such statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “potential,” “should,” or words of similar meaning or other statements concerning opinions or judgment of Union or its management about future events. Although Union believes that its expectations with





respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of Union will not differ materially from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including but not limited to the effects of and changes in general economic and bank industry conditions, the interest rate environment, regulatory requirements, changes in laws and regulations, competitive pressures, new products and delivery systems, inflation, changes in the stock and bond markets, accounting standards or interpretations of existing standards, mergers and acquisitions, technology, and consumer spending and savings habits. Forward-looking statements speak only as of the date they are made and Union undertakes no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Bill Cimino (804) 448-0937, VP and Director of Investor Relations
Beth Shivak (804) 327-5746 VP and Director of Corporate Communications




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