RICHMOND, Va. -- The closing of a roughly half-billion-dollar deal has wrapped up the first acquisition in four years for Richmond’s biggest bank.
Atlantic Union Bank announced Monday it had completed its acquisition of American National Bank & Trust Co., a 114-year-old institution based in Danville.
The previously announced deal, which became effective Monday, closed with an aggregate transaction value of $507 million, based on AUB’s roughly $35 closing stock price on March 28. The all-stock transaction was valued at $416 million when it was first announced last July.
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