Related Practices

Related Lawyers

Advisory Sign Up


receive insight on

legal developments

from Troutman Sanders.

News & Knowledge

Troutman Sanders Advises Union Bankshares Corporation on $701 Million Acquisition


RICHMOND, VA., May 23, 2017 – Troutman Sanders LLP announced today that it is serving as legal advisor to Union Bankshares Corporation, Richmond, Virginia, in connection with the acquisition of Xenith Bankshares, Inc., Richmond, Virginia, in an all-stock transaction valued at $701 million.

The transaction, which is expected to close early next year, will result in the creation of Virginia’s largest community bank with combined assets in excess of $11.9 billion. The acquisition will also allow Union to expand its branch presence in the Hampton Roads market as well as in Northern Virginia, North Carolina and Maryland.

Troutman Sanders attorneys Jake Lutz, Mason Bayler, Seth Winter, Lynda Crouse and Robert Friedman led the team advising Union. Detailed information about the deal can be found here.

About Troutman Sanders
With a diverse practice mix, workforce and footprint, Troutman Sanders has cultivated its reputation for a higher commitment to client care for over 120 years. Ideally positioned to help clients across sectors realize their business goals, the firm’s 650 attorneys transact for growth, resolve mission-threatening disputes and navigate complex legal and regulatory challenges. See for more information.