Union Bankshares Announces Changes in Board of Directors
BOWLING GREEN, Va., Sept. 8 /PRNewswire-FirstCall/ -- Union Bankshares
(NASDAQ:UBSH) is pleased to announce the election of Patrick J. McCann and
Hullihen W. Moore to its Board of Directors.
"We are pleased to have Pat and Hullie join our Board of Directors," said
Ronald L. Hicks, Chairman of the Board of Union Bankshares Corporation. "Pat
brings a wealth of financial experience in banking to our Board, as well as a
familiarity with our markets, particularly in the Charlottesville area. Hullie's background and experience make him a strong addition to the Union
Bankshares team." Patrick J. McCann is a private investor and a director of Guaranty Bank. He
served as director and was a member of the executive committee and audit
committee of Guaranty Financial Corporation from February 2000 until its
acquisition by Union Bankshares Corporation in May 2004. Between 1998 and
2000 Mr. McCann was CFO of the Florida division of Bank of America. Prior to
that time, Mr. McCann served in various financial roles at Barnett Banks
between 1987 and 1997, including Regional Chief Financial Officer, Chief
Accounting Officer and Corporate Controller culminating with his role as
Corporate Director of Finance. His work experience includes roles as Director
of Internal Audit for an $800 million thrift and as Controller for a $1.7
billion thrift, as well as Senior Auditor for Deloitte & Touche. Mr. McCann is
a 1979 graduate of Florida State University with a B.S. in Accounting. Mr. McCann lives in the Charlottesville area with his wife and three sons.
"It is an honor to join the Board of Union Bankshares Corporation which has
quietly grown to be a strong and respected player in Virginia's financial
markets," said Mr. McCann. "Their progressive philosophy and customer-focused
approach are trademarks that successful companies aspire to, particularly in
the current business environment. I look forward to being a part of the Union
Bankshares organization and contributing to and sharing in its success." Hullihen W. Moore served as a member of the State Corporation Commission of
Virginia from February 1992 through January 2004. For the twenty-five years
prior to that time he practiced law in Richmond, Virginia, concentrating in
administrative and public utility law. Mr. Moore also taught public utility
law and economic regulation at the law schools of the College of William and
Mary, Washington and Lee University and the University of Virginia. He is a
past President of the Mid-Atlantic Conference of Regulatory Utilities
Commissioners and a past President of the Southeastern Association of
Regulatory Utility Commissioners. Mr. Moore is a graduate of Washington and
Lee University with a major in philosophy. He received his law degree from the
University of Virginia where he served on the Editorial Board of the Virginia
Law Review. He also served as Editor of The Virginia Lawyer and has authored
numerous articles in the regulatory law area. Mr. Moore is also an
accomplished landscape photographer whose work was published by the University
of Virginia in a book of his work, Shenandoah: Views of Our National Park.
Mr. Moore said, "I am pleased and honored to be elected to the Board of
Directors of Union Bankshares Corporation. Their progressive philosophy,
customer service standards and financial performance are trademarks successful
companies aspire to achieve. I look forward to being a part of the Union
Bankshares organization and to working with the Board and management to
continue the success they have achieved." The Company also announces the resignation of Bob Sledd from its Board to
devote additional time to the significant demands of his role as Chairman of
the Board and CEO of Performance Food Group Company (NASDAQ:PFGC). Subsequent
to Mr. Sledd joining the Union Bankshares Corporation Board, the Chief
Executive Officer of PFGC resigned and Mr. Sledd was elected CEO. Mr. Hicks
said, "Bob has been a strong resource in his limited time on our Board and,
while we understand the increased demands on his time, we are sorry to lose
such a valuable asset to our organization." Union Bankshares is one of the largest community banking organizations based in
Virginia, providing full service banking to the Central, Rappahannock,
Williamsburg and Northern Neck regions of Virginia through its bank
subsidiaries, Union Bank & Trust (23 locations in the counties of Caroline,
Chesterfield, Hanover, Henrico, King George, King William, Spotsylvania,
Stafford, Westmoreland and the City of Fredericksburg), Northern Neck State
Bank (9 locations in the counties of Richmond, Westmoreland, Essex,
Northumberland and Lancaster), Guaranty Bank (7 locations in the counties of
Albemarle, Fluvanna and Nelson and the City of Charlottesville), Rappahannock
National Bank in Washington, Virginia and Bank of Williamsburg in Williamsburg
and Newport News. Union Bank & Trust also operates a loan production office in
Manassas, Virginia. The Company also provides customer convenience through
surcharge-free access to 36 ATM machines located in Food Lion stores throughout
the Company's trade area. In addition to banking services, Union Investment
Services, Inc. provides full brokerage services and Mortgage Capital Investors
provides a full line of mortgage products.
This press release may contain "forward-looking statements," within the meaning
of federal securities laws, that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company
and are factors it believes are appropriate in the circumstances. Actual
results could differ materially from those contained in or implied by such
statements for a variety of reasons including, but not limited to: changes in
interest rates; changes in accounting principles, policies, or guidelines;
significant changes in economic conditions; significant changes in regulatory
requirements; and significant changes in securities markets. Consequently, all
forward-looking statements made herein are qualified by these cautionary
statements and the cautionary language in the Company's most recent Form 10-K
report and other documents filed with the Securities and Exchange Commission.
Union Bankshares Corporation does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the date the
forward-looking statements are made. DATASOURCE: Union Bankshares CONTACT: D. Anthony Peay, Executive Vice President and Chief Financial Officer of Union Bankshares, +1-804-632-2112 Web site: http://www.ubsh.com/
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