Two Virginia Banks Merging

Officials at two Virginia banks say they have merged their operations. What had been FNB Corporation and Virginia Financial Group will now be called StellarOne, and will be based in Charlottesville.

William Heath, the former chief executive officer of Christiansburg-based FNB, is chairman of the board of the combined company. Virginia Financial was based in Culpeper.

Bank executives said Thursday that shareholders of the two companies approved the deal earlier this month.

The new bank will offer 64 branches in the New River Valley, the Shenandoah Valley, and stretch eastward across Virginia, including locations in Farmville and Fredericksburg.

The merger combines the companies' various subsidiaries: FNB, Planters Bank and Trust Company of Virginia, Second Bank & Trust, and Virginia Commonwealth Trust.


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