Union Bankshares: 4Q Earnings Snapshot

RICHMOND, Va. (AP) _ Union Bankshares Corp. (AUB) on Tuesday reported fourth-quarter profit of $59.4 million.

The Richmond, Virginia-based bank said it had earnings of 72 cents per share. Earnings, adjusted for non-recurring costs, were 93 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The holding company for Union First Market Bank posted revenue of $194.1 million in the period. Its revenue net of interest expense was $177.8 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $170.5 million.

For the year, the company reported profit of $158.2 million, or $1.93 per share. Revenue was reported as $686.8 million.

Union Bankshares shares have risen 10% since the beginning of the year. The stock has increased 2% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUB at https://www.zacks.com/ap/AUB

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