Exhibit

CHICAGO (May 23, 2018) - The Federal Savings Bank (TFSB), one of the largest privately held, federally chartered, veteran-owned banks in America focused on residential lending, and Union Bank & Trust (Union) today announced that they signed a definitive agreement to team together to offer TFSB residential mortgages. With the agreement, The Federal Savings Bank will offer a wide range of residential mortgage products and services from Union locations.

The agreement will increase TFSB’s ability to help more customers, particularly on the Eastern Seaboard, with their home lending needs. Through personalized attention and by leveraging the latest technology, TFSB’s mortgage professionals use their expertise to facilitate safe and sound lending practices and make a highly regulated, complex and sophisticated loan transaction transparent and understandable for customers. Robert Jones, regional senior vice president at TFSB, will lead the initiative.

“The arrangement with Union was particularly attractive given Union Bank & Trust’s solid reputation, commitment to excellence and geographic footprint on the East Coast,” said Steve Calk, chairman and CEO of The Federal Savings Bank. “We look forward to leveraging our home lending experience to help more customers achieve the American Dream of home ownership.”

“We have conducted a careful review of UMG through the lens of Union’s strategic priorities and concluded the best way to offer a mortgage loan solution is through allowing TFSB to offer its mortgages from Union locations instead of operating UMG as a vertically integrated, stand-alone mortgage subsidiary,” said John C. Asbury, president and chief executive officer of Union Bankshares Corporation. “We believe that teaming with The Federal Savings Bank will allow TFSB to offer outstanding mortgage solutions to our customers and provide a smooth transition to the new approach.”

The Federal Savings Bank, one of the largest privately held and most successful veteran-owned banks in America, is an industry leader providing tens of thousands of Americans a path to home ownership through residential home lending. As a federally chartered bank, its highly experienced bankers are experts in lending in all 50 states and have the ability to help those customers achieve the American Dream. In recent years, the Bank’s exceptional work has earned accolades from Ellie Mae, The ABA Banking Journal and Bauer Financial. For more information, visit www.thefederalsavingsbank.com.

Headquartered in Richmond, Virginia, Union Bankshares Corporation (NASDAQ:UBSH) is the holding company for Union Bank & Trust, which has 150 branches, 39 of which are operated as Xenith Bank, a division of Union Bank & Trust of Richmond, Virginia, and approximately 216 ATMs located throughout Virginia and in portions of Maryland and North Carolina. Union Bank & Trust also operates Shore Premier Finance, a specialty marine lender. Non-bank affiliates of the holding company include: Union Mortgage Group, Inc., Old Dominion Capital Management, Inc. and Dixon, Hubard, Feinour, & Brown, Inc., which both provide investment advisory services, and Union Insurance Group, LLC, which offers various lines of insurance products.

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