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Regulators OK Union-Xenith deal

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Regulators OK Union-Xenith deal

The Federal Reserve Bank of Richmond and the Virginia State Corporation Commission have approved Union Bankshares Corp.'s pending acquisition of Xenith Bankshares Inc.

The merger of Union and Xenith, which are both based in Richmond, Va., is still subject to shareholder approvals but is on track for an early January 2018 completion.