Management ChangeMay 21, 2026, 02:56 PM
Union Bankshares CEO Silverman Named Board Chair; Van Dyke Retires
AI Summary
Union Bankshares announced leadership changes following its annual shareholders meeting on May 20, 2026. Cornelius J. Van Dyke retired as Director and Board Chair due to reaching the mandatory retirement age. David S. Silverman, the current CEO, was appointed Board Chair, and Timothy W. Sargent was named Vice Chair and Lead Independent Director. Additionally, shareholders approved the election of ten directors and ratified the appointment of BDMP Assurance, LLP as the external auditors for 2026.
Key Highlights
- Cornelius J. Van Dyke retired as Director and Board Chair due to mandatory retirement age.
- CEO David S. Silverman was named Board Chair of Union Bankshares and Union Bank.
- Timothy W. Sargent was named Vice Chair and Lead Independent Director.
- Shareholders fixed the number of directors at ten for the ensuing year and elected ten individuals.
- BDMP Assurance, LLP was ratified as the Company's external auditors for 2026.
- 3,297,195 shares were represented at the annual meeting out of 4,614,050 outstanding.
Price Impact
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