Union Bankshares to Acquire Virginia's Rappahannock National Bank.

Knight Ridder/Tribune Business News | February 27, 1998 | Copyright

By Mary Beausoleil, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News

Feb. 27--If the current bank-buyout mania were a contest, Rappahannock National Bank would be the winner in the price-per-share category.

Union Bankshares Corp. will exchange 158.209 shares of its stock for each share of Rappahannock when it buys the bank, which has just 1,000 shares outstanding and one office, in quaint and trendy Washington.

The exchange puts a value of about $6,724 on each Rappahannock share, based on yesterday's closing price of ...

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