United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________

 

FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): October 29, 2015

 

UNION BANKSHARES CORPORATION

(Exact name of registrant as specified in its charter)

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Virginia 0-20293 54-1598552
(State or other jurisdiction (Commission (I.R.S. Employer
 of incorporation) File Number) Identification No.)

  

1051 East Cary Street

Suite 1200

Richmond, Virginia 23219

(Address of principal executive offices, including Zip Code)

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Registrant’s telephone number, including area code: (804) 633-5031

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

  

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

 

¨Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13c-4(c))

 

 

 

 

 

Item 8.01Other Events.

 

On October 29, 2015, Union Bankshares Corporation (“the Company”) issued a press release announcing the declaration of a quarterly dividend payable on November 27, 2015 to shareholders of record as of November 13, 2015. A copy of the press release is attached as Exhibit 99.1 hereto and is hereby incorporated herein by reference.

 

On November 3, 2015, the Company announced that its Board of Directors has authorized a share repurchase program to purchase up to $25 million worth of the Company’s common stock on the open market or in privately negotiated transactions. The authorization permits management to repurchase the Company’s shares from time to time at management’s discretion. The repurchase program is authorized through December 31, 2016. This new stock repurchase program is in addition to the existing stock repurchase program approved by the Board of Directors on January 30, 2014, which has approximately $2.5 million remaining for repurchase and will continue to be utilized until such authorization is completed or expires at December 31, 2015. A copy of the press release is attached as Exhibit 99.2 hereto and is hereby incorporated herein by reference.

  

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibits.

 

99.1Union Bankshares Corporation press release dated October 29, 2015.
99.2Union Bankshares Corporation press release dated November 3, 2015.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

  

  UNION BANKSHARES CORPORATION  
       
       
Date: November 3, 2015 By: /s/ Robert M. Gorman  
    Robert M. Gorman  
    Executive Vice President and  
    Chief Financial Officer