Investor Presentation
February/March 2017
Exhibit 99.1
Forward-Looking Statement
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 presentation. 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.
2
Company Snapshot
3
Overview Branch Map
• Shares listed under “UBSH” on NASDAQ
• Headquartered in Richmond, VA
• 100+ years of banking history
• 113 branches across more than 50 counties
and 10 MSAs throughout Virginia
- Only Virginia-based bank with a statewide
footprint
- Largest community banking organization
headquartered in Virginia
Financial Highlights as of 12/31/2016
Market data as of December 31, 2016
Source: SNL Financial
UBSH (113)
($ Millions)
Total Assets $8,426.8
Total Loans Held For Investment 6,307.1
Total Deposits 6,379.5
Shareholders' Equity 1,001.0
Market Capitalization 1,558.6
Capital Ratios
Tier 1 Common Capital (CET1) 9.72%
Tier 1 Leverage 9.87%
Tier 1 Capital 10.98%
Total Capital 13.59%
Tangible Common Equity / Tangible Assets 8.41%
Union’s Strengths
• Unique branch network across Virginia, competitive
banking products and services and a loyal customer
base
• Well positioned for organic growth given commercial
activity, household income levels and population growth
in its footprint
• Strong balance sheet and solid capital base
• Experienced management team
• Successful acquirer and integrator
• Proven financial performance in both good and bad
economic climates
4
Diversity Supports Growth in Virginia
Richmond
• State Capital
• Fortune 500 headquarters (6)
• Finance and insurance
• VCU & VCU Medical Center
Fredericksburg
• Defense and security
contractors
• Health care
• Retail
• Real Estate development
Charlottesville
• University of Virginia & Medical
College
• High-tech and professional
businesses
• Real Estate development
Northern Virginia
• Nation’s Capital
• Defense and security
contractors
• Associations (lobbyists)
• High tech
Virginia Beach - Norfolk
• Military
• Shipbuilding
• Fortune 500 headquarters (3)
• Tourism
Roanoke - Blacksburg
• Virginia Tech
• Health care
• Retail
• Fortune 500 headquarters (1)
5
Union Bank & Trust
• 113 branches
• Reduction of 10 branches in 2016; one in January 2017
• Only Virginia-based bank with a statewide footprint
• 1,294 FTEs
• 58 Commercial Bankers
• $6.3 Billion Loans
• $6.4 Billion Deposits
• 177,000+ Core Consumer Households
6
MSA
Market Share Rank
Company Deposits
Total Market Deposits
Market Share
Roanoke
Deposits: $378 mm
Market Tot.: $7.3 bn
Mkt. Share: 5.2%
Rank: #6
Branches: 8
Staunton /
Harrisonburg
Rank: #2
Deposits: $516 mm
Market Tot.: $4.0 bn
Mkt. Share: 12.9%
Branches: 11
Blacksburg
Rank: #2
Deposits: $614 mm
Market Tot.: $3.0 bn
Mkt. Share: 20.9%
Branches: 9
Charlottesville
Rank: #5
Deposits: $447 mm
Market Tot.: $4.3 bn
Mkt. Share: 9.6%
Branches: 8
Richmond
Rank: #5
Deposits: $1.8 bn
Market Tot.: $34.5 bn
Mkt. Share: 5.3%
Branches: 32
Culpeper
Rank: #2
Deposits: $484 mm
Market Tot.: $2.9 bn
Mkt. Share: 16.9%
Branches: 8
Fredericksburg
Rank: #1
Deposits: $886mm
Market Tot.: $4.0 bn
Mkt. Share: 22.4%
Branches: 13
Statewide
Rank: #7
Deposits: $6.1bn
Market Tot.: $191bn
Mkt. Share: 3.2%
Branches: 113
Strong Presence Across All Major Virginia Markets
Northern Neck
Rank: #2
Deposits: $323mm
Market Tot.: $1.6 bn
Mkt. Share: 21.0%
Branches: 9
Virginia Beach
Rank: #14
Deposits: $157mm
Market Tot.: $23.7 bn
Mkt. Share: 0.7%
Branches: 5
Source: SNL Financial; Deposit data as of 6/30/2016; Branch count as of 1/31/17
7
Source: SNL Financial; Deposit data as of 6/30/2016; Pro forma for recent acquisitions
Largest Community Bank Headquartered in Virginia
Deposit Market Share – Virginia
8
Rank Parent Company Name
Number of
Branches Total Deposits ($000)
Total Deposit
Market Share (%)
1 Wells Fargo & Co. (CA) 287 38,612,667 20.1
2 Bank of America Corp. (NC) 140 26,154,322 13.6
3 BB&T Corp. (NC) 351 22,630,570 11.8
4 SunTrust Banks Inc. (GA) 203 19,014,719 9.9
5 Capital One Financial Corp. (VA) 74 14,811,622 7.7
6 United Bankshares Inc. (WV) 83 7,089,799 3.7
7 Union Bankshares Corp. (VA) 115 6,101,710 3.2
8 TowneBank (VA) 33 5,704,362 3.0
9 Carter Bank & Trust (VA) 88 3,948,043 2.1
10 PNC Financial Services Group Inc. (PA) 100 3,479,206 1.8
Other Market Participants (122) 987 44,197,077 23.1
Market Total 2,461 191,744,097 100.0
Analysis current as of 10/3/2016
Union Wealth Management
• Trust, Asset Management, Private Banking, Brokerage and Financial
Planning services
• $2.3B in AUM and AUA, the majority of which is managed assets
• $10.2 million fiduciary and asset management fees generated in
2016
• Organic and Acquisitive growth opportunities
• Expand services to existing customers utilizing targeted
segmentation and marketing strategies
• Opportunities to serve retail and commercial customers of bank
• Leveraging bank brand/reputation in wealth management space
• Target advisors, teams and firms that complement our wealth
model and client service culture
• Acquired Old Dominion Capital Management ($300 million AUM)
in 2016
9
Union Mortgage Group
• 22 offices: 20 in Virginia, 1 each in Maryland and North
Carolina
• 105 FTEs – 41 loan officers
• $145.3 million of originations 4Q16; $540 million in
originations for 2016 (39% refinance)
• $1.8 net income in 2016
• Up from a loss of $202,000 in 2015
• Opportunities:
• Salesforce expansion in Virginia growth markets
• Process improvement
10
2016 Financial Highlights
Fourth Quarter 2016
• Net Income was $20.8 million;
earnings per share of $0.48 – up
~$3.0 million, or 16.6%, and up 8
cents, or 20%, from 4Q 2015
• ROA was 99 basis points
• ROTCE was 12.05%
• Efficiency ratio (FTE) was 62.8%
• Loan growth was 10.3% annualized in
the quarter
• Deposit balances grew 7.7%
annualized in the quarter
• Asset Quality remained strong as
nonperforming assets declined $7.2
million, or 26% from 4Q 2015 to $20.1
million
11
Full Year 2016
• Net Income was $77.5 million; earnings
per share of $1.77 – up ~$10.4 million,
15.5%, or 28 cents, 18.8%, from FY
2015
• ROA of 96 basis points was up 6 basis
points from the prior year
• ROTCE of 11.5% was up 145 basis
points over 2015 levels
• The efficiency ratio (FTE) of 64.3% was
down 223 basis points from 2015
• Loan growth was $636 million or 11.2%
• Deposit balances grew $416 million or
7%
• Raised $150 million subordinated debt
at the holding company at favorable
terms
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
2012 2013 2014 2015 2016
$2,967 $3,039
$5,346
$5,671
$6,307
Loans ($M)
Balance Sheet Trends
12
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
2012 2013 2014 2015 2016
$3,298 $3,237
$5,639
$5,964
$6,379
Deposits ($M)
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
2012 2013 2014 2015 2016
$4,096 $4,177
$7,359
$7,694
$8,427
Assets ($M)
Repurchased 1.1
million shares in
2012
Capital Management
13
• Since 2011, increased quarterly dividend from $0.07/share to $0.20/share;
• Increased quarterly dividend to $0.20 in November 2016
• Repurchased 5.8 million shares since 2012
• In 2016, repurchased $33.2 million of stock (~1.4 million shares)
Repurchased
500,000 shares
In 2013
Repurchased 2.1
million shares in 2014
Repurchased
700,000 shares in
2015
Repurchased ~1.4
million shares in
2016
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
2012 2013 2014 2015 2016
14.57%
14.16%
13.38%
12.46%
13.59%
8.96% 8.93%
9.27% 9.20%
8.41%
Total capital ratio Tangible Equity/Tangible Assets
Profitability Ratios and Income Trends
* excludes after-tax acquisition expenses and acquisition accounting impact
14
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
2012* 2013* 2014* 2015* 2016*
0.89% 0.90% 0.91%
0.90%
0.96%
Return on Average Assets (ROA)
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
12.00%
2012* 2013* 2014* 2015* 2016*
9.89% 10.05%
10.13%
10.00%
11.45%
ROTCE
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
2012* 2013* 2014* 2015* 2016*
$35,262 $36,408
$65,888
$67,079
$77,476
Net Income ($)
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
2012* 2013* 2014* 2015* 2016*
4.24% 4.18%
3.93% 3.79% 3.72%
Net Interest Margin
Top-Tier Financial Performance Focus
• Union is committed to achieving top tier financial
performance and providing our shareholders with
above average returns on their investment
• Key financial performance metrics benchmarked
against top quartile peers
• Top Tier Financial Performance targets:
15
Financial Performance Metric Union Targets
Return on Assets 1.1% - 1.3%
Return on Tangible Common Equity 13% - 15%
Efficiency Ratio < 60%
Path to Top Tier Return on Tangible Common Equity
Revenue Expense
This path also delivers Return on Assets of above 1.1%
16
2.00
4.00
6.00
8.00
10.00
12.00
14.00
ROTCE - 2016 ROTCE Target
11.5%
1.0% - 1.3%
0.3% 0.1% - 0.2%
0.3% - 0.5%
Loan Growth with
Stabilized Spread
FF Rate Rise
of 25 bps
Wealth Management
Growth
Expense
Management
13.0+%
2017 Outlook
• Stable economy in footprint; expectation of federal
budget passing
• Upper single digit loan growth
• Modest net interest margin compression in 1Q,
stabilizing NIM in the second quarter followed by
modest NIM expansion during the second half of
2017
• Improving ROA, ROTCE and Efficiency ratio from
2016 levels
17
2017 Priorities
• Diversification of loan portfolio, deposit base and
revenue streams
• Low cost core deposit growth to fund loan growth and
work towards our loan/deposit ratio target of 95%
• Focus on improving the Company’s efficiency ratio
• Complete readiness for crossing the $10 billion asset
threshold
18
Value Proposition
• Scaled statewide Virginia branch footprint is a
competitive advantage and brings a unique
franchise value
• Strong balance sheet and capital levels
• Organic growth and acquisition opportunities
• Experienced management team
• Committed to top tier financial performance
• Shareholder Value Driven
• Solid dividend yield and payout ratio with earnings
upside
19
APPENDIX
20
CEO Succession Plan
• John Asbury became President & CEO of Union Bank &
Trust and President of Union Bankshares Corporation on
October 1; CEO of Holding company on January 2, 2017 –
succeeding Billy Beale.
• Asbury was most recently President and CEO of First National Bank of
Santa Fe, a multi-state bank located in the Southwest
• Prior to that, he was Senior Executive Vice President at Regions
responsible for all lines serving business and commercial customers and
managed a $50 billion book of business
• Senior Vice President at Bank of America – served in a variety of roles last
position responsible for all Pacific Northwest Region business banking
• Asbury joined the board on October 1
• Billy is Executive Vice Chairman through March 31 and will
stand for re-election to board and serve as an advisor to the
CEO and Board
21
Diversified Loan Portfolio
22
Source: SNL Financial, Company documents
Loan Composition at December 31, 2016 – $6.307 Billion
Portfolio Characteristics
Average loan size $141,000
Weighted average maturity 80 months
Yield YTD (Tax Equivalent) 4.44%
Composition By Type Composition By Region
NOO CRE/Total
Capital Ratio:
293%
ADC/Total
Capital:
80%
Charlottesville
17%
Richmond
29%
Fredericksburg
15%
Northern Neck
3%
Hampton
Roads
8%
Rappahannock
9%
Northern
Virginia
3%
Southwest &
Charlotte
10%
Corporate
6%
Residential 1-4
Family
16%
NOOCRE
30%
Owner
Occupied CRE
14%
C&D
12%
Second
Mortgages
1%
Equity LOC
8%
C&I
9%
Personal
9%
Farm
0%
Other
2%
Commercial Real Estate Portfolio
23
Source: SNL Financial, Company documents
CRE Composition at December 31, 2016 - $2.756 Billion
Portfolio Characteristics
10 largest loans 7.5% of CRE portfolio
10 largest loans 3.3% of total loan portfolio
Weighted average maturity 60 months
Weighted average coupon 3.96%
Composition By Type Composition By Region
Owner
Occupied
31%
Retail
13%
Office
14%
Office
Warehouse
8%
Hotel, Motel,
B&B
7%
Special Use
9%
Small Mixed
Use Building
5%
Other
1%
Multifamily
12% Charlottesville
20%
Richmond
27%
Fredericksburg
14%
Northern Neck
1%
Hampton
Roads
12%
Rappahannock
4%
Northern
Virginia
6%
Southwest &
Charlotte
10%
Corporate
6%
Construction and Development Loans
24
Source: Company documents
C&D Composition at December 31, 2016 - $751 million
Portfolio Characteristics
10 largest loans 18.9% of C&D portfolio
10 largest loans 2.3% of total loan portfolio
Weighted average maturity 19 months
Weighted average coupon 4.13%
C&D Loans/Total Capital Ratio 80.0%
• 37.5% commercial construction, 21.3% residential construction and remainder of portfolio divided between
raw land, land development and lots
• Most C&D loans have interest reserves
• Residential A&D loans must have 50% or more of the lots under contract to close
• CRE construction loans must be approved with a UB&T-provided mini-perm
Charlottesville
13%
Richmond
41%
Fredericksburg
17%
Northern Neck
2%
Hampton Roads
10%
Rappahannock
3%
Northern Virginia
4%
Southwest &
Charlotte
4%
Corporate
6%
Core Deposit Base
25 (1) Time deposits greater than $100,000
Note: Minimal exposure to CDARS/ICS deposits
Source: SNL Financial, Company documents
Deposit Composition at December 31, 2016 - $6.379 Billion
Deposit Base Characteristics
Average cost of interest bearing deposits (YTD) 38 basis points
Average total cost of deposits (YTD) 29 basis points
Ranked 1st in deposit market share for community banks in Richmond MSA
Ranked 1st in deposit market share for community banks in Charlottesville MSA
Ranked 2nd in deposit market share in Blacksburg-Christiansburg-Radford MSA
Non-interest
Bearing
22%
NOW
28%
Money Market
23%
Savings
9%
Jumbo Time¹
8%
Retail Time
10%
50% of deposit base is in
transactional accounts