Letter from the Chief Executive Officer

Thank you for your interest in Union First Market Bankshares. Our community banking tradition dates back to 1902. Since that time we have grown and evolved to meet the financial needs of our customers and the communities in which we work and live.

We made several significant changes in 2010 to benefit our customers and broaden our service offerings. The first occurred on February 1, when we acquired First Market Bank. Our name reflects the merger of Union Bankshares and First Market Bank. This combination added 36 branches to our network of full-service banking locations across the Northern, Central, Rappahannock, Tidewater, and Northern Neck regions of Virginia. The addition of trust services through the acquisition enhanced our financial advisory business and mortgage operations have been expanded for the convenience of our customers.

The second change occurred on October 12, when we combined two of our subsidiary banks, Rappahannock National Bank and Northern Neck State Bank, into Union First Market Bank. This move unified our banking services under one brand across Virginia, increased customer convenience and expanded our product service offerings to all of our banking customers.

While Union First Market Bankshares has grown to become one of the largest community banking organizations in Virginia, we have not changed our core values of Integrity and Trust, Customer Focus, Knowledge, Respect, Commitment and Teamwork. Our core values guide our relationships with our customers and our communities.

The sole purpose and focus of our management team and teammates is to provide our customers with innovative solutions to meet their financial needs. We will work to enrich our communities through financial and volunteer support for without vibrant communities to serve we will not be a successful banking organization.

We expect to deliver superior results to our shareholders through exceptional service to our customers and continued leadership within our communities. Again, thank you for your interest in Union First Market Bankshares. I would welcome the opportunity to hear from you.

G. William Beale
Chief Executive Officer