Union Bankshares, Inc. - Common Stock (UNB)

Competitors to Union Bankshares, Inc. - Common Stock (UNB)

Atlantic Union Bank

Atlantic Union Bank and Union Bankshares compete primarily on loan offerings and commercial banking services. Atlantic Union has a stronger presence in Northern Virginia and is known for its diverse financial products, including innovative digital banking solutions. This has allowed it to attract a younger demographic. Although both banks emphasize community relations, Atlantic Union's technological advancements and broader service offerings place it slightly ahead in attracting tech-savvy customers.

Bank of America 

Bank of America competes with Union Bankshares through its vast range of financial services and national presence, targeting both individual and corporate clients. With robust online banking capabilities, a diverse set of investment products, and branches across numerous states, it attracts a clientele that seeks convenience and a wide array of services. Union Bankshares, on the other hand, focuses on personalized banking and stronger connections with the local community. While Union provides an impressive community-oriented experience, BofA's sheer size and service offerings give it a clear advantage in terms of scale and breadth of services.

Fifth Third Bank 

Fifth Third Bank competes with Union Bankshares primarily through its extensive banking services, technological advances, and a large footprint in the Midwest and Southeast. With significant resources, Fifth Third leverages its banking technologies to provide a seamless digital experience, which appeals to many modern consumers. While Union Bankshares excels in community service and personalized banking relationships, Fifth Third's extensive financial products and nationwide presence often appeal to larger clients and corporate banking needs, giving it a competitive advantage in a broader market.

First Commonwealth Financial Corporation

First Commonwealth Financial Corporation competes with Union Bankshares by offering a mix of banking products and financial services. It has a more extensive network across Pennsylvania and Ohio which allows it to serve a larger client base. First Commonwealth distinguishes itself through a variety of specialized financial services such as cash management and investment consulting, whereas Union Bankshares remains focused on traditional banking within a more localized scope. Despite this, Union's stronger community ties give it an edge in local customer loyalty.

TowneBank 

TowneBank competes with Union Bankshares by providing a similar array of financial services tailored to personal and commercial banking, including loans, mortgages, and wealth management. Both banks focus on community involvement and customer service, yet TowneBank has a larger branch network in the Virginia area, which gives it an edge in local customer accessibility. Their marketing strategies emphasize personal relationships, and TowneBank has gained a reputation for superior customer service as seen in various customer satisfaction surveys.