Union Bankshares Corporation · Bowling Green, VA United States ·(NASDAQ (GS): UBSH)
Company Description
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This link will open in a new window Union Bankshares is the unifying force for Union Bank & Trust, Northern Neck State Bank, Rappahannock National Bank, and Bay Community Bank. Together the banks operate more than 50 branches primarily in central and coastal portions of Virginia. They offer standard services such as checking and savings accounts, credit cards, and CDs. Commercial real estate loans make up about 30% of the company's loan portfolio; construction loans and residential mortgages account for approximately 20% and 15%, respectively. The banks also make personal and business loans. To read the full description, subscribe now.
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Key Union Bankshares Corporation Financials
| Company Type | Public - NASDAQ (GS): UBSH Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $108.4 |
| 2008 Employees | 670 |
Union Bankshares Corporation Executives
31 executives listed for Union Bankshares Corporation's Bowling Green, VA location.
| Title | Name & Bio | Contact |
| Chairman | Ronald Hicks | Network |
| Vice Chairman | W. Tayloe Murphy | Network |
| President, CEO, and Director | G. William Beale | Network |
Competition
Competitive Landscape for Union Bankshares Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Union Bankshares Corporation Competitors
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