Union First Market Bankshares Hires Robert B. Eastep as President, Union Mortgage Group

RICHMOND, Va., Oct. 5, 2012 /PRNewswire/ -- Union First Market Bankshares today announced that it has hired Robert B. Eastep as President, Union Mortgage Group, Inc. Union Mortgage Group is a non-bank affiliate of Union First Market Bankshares.

(Logo: http://photos.prnewswire.com/prnh/20091027/NE00206LOGO )

"We are pleased to add Rob Eastep to our team," said G. William Beale, chief executive officer for Union First Market Bankshares. "Rob has extensive leadership experience in a residential mortgage lending company, which should help Union Mortgage as it continues to grow. With the additional lenders hired earlier this year, Union Mortgage now operates 15 offices in four states and is also licensed to do business in selected states throughout the Mid-Atlantic and Southeast, as well as Washington, D.C."

Eastep, 49, was previously senior vice president and chief financial officer for Central Virginia Bankshares. Prior to joining Central Virginia Bankshares in 2010, Eastep was chief executive officer of ESM, LLC, a business consulting firm focused on strategic business issues in the financial services and golf/club industries. He was Executive Vice President and Chief Financial Officer of Saxon Capital, Inc. a residential mortgage lender and servicer that managed a $6 billion portfolio of mortgage assets. Saxon Capital, Inc. was a publicly held company prior to being sold to Morgan Stanley in 2006. Eastep also worked at Cadmus Communications Corporation, Wachovia and KPMG. Eastep currently serves on the Board of Directors of CreXus Investment Services (NYSE: CXS-Commercial REIT) where he is Audit Committee Chair.

Eastep graduated with honors from West Virginia University and is a certified public accountant. He will report to John C. Neal, executive vice president and chief banking officer for Union First Market Bankshares. Neal also serves as chairman of the mortgage company's board of directors.

Headquartered in Richmond, Virginia, Union First Market Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union First Market Bank, which has 94 branches and more than 150 ATMs throughout Virginia. Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products. Union First Market Bank also owns a non-controlling interest in Johnson Mortgage Company, L.L.C.

Additional information on the Company is available at http://investors.bankatunion.com.


Certain statements in this report 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. Such statements are often characterized by the use of qualified words (and their derivatives) such as "expect," "believe," "estimate," "plan," "project," "anticipate," "intend," "will," or words of similar meaning or other statements concerning opinions or judgment of the Company and its management about future events. Although the Company 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 the Company will not differ materially from any 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, legislative and regulatory requirements, 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. More information is available on the Company's website, http://investors.bankatunion.com and on the Securities and Exchange Commission's website, www.sec.gov. The information on the Company's website is not a part of this press release. The Company does not intend or assume any obligation to update or revise any forward-looking statements that may be made from time to time by or on behalf of the Company.

SOURCE Union First Market Bankshares Corporation