Bailout Bank Bio: StellarOne Corp

Jan 15, 2009 | 2 min read | Print Article

StellarOne Corp., formerly Virginia Financial Group, Inc., is a bank holding company. StellarOne Corp has a network of 35 branches throughout central, south central and southwest Virginia. In May 2008, the Company completed the merger of its banking and trust subsidiaries, including First National Bank, Planters Bank and Trust Company of Virginia, and Virginia Commonwealth Trust Company, with and into Second Bank & Trust, with the combined bank renamed StellarOne Bank, operating as StellarOne. StellarOne is headquartered in Charlottesville, Virginia.

StellarOne will receive $30 million from the Treasury Department through the Capital Purchase Program, in exchange for shares of the company’s preferred stock and warrants to purchase approximately $4.5 million of StellarOne common stock.

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Bailout Bank Bio: StellarOne Corp


Federal Equity Investment	$30 million
Total Revenue	$116.13 million (2007)
Net Income	$17.00 million (2007)
Number of Employees	841
Corporate Headquarters	Charlottesville, Virginia
Business Sector	Financial Services
Officers and Directors	William P. Heath Jr., Chairman of the Board O. R. Barham Jr., President, Chief Executive Officer, Director H. Wayne Parrish, Vice Chairman of the Board Jeffrey W. Farrar, Chief Financial Officer, Executive Vice President Gregory L. Fisher, Director Christopher M. Hallberg, Director Martin F. Lightsey, Director
Corporate Website	http://www.stellarone.com/
Executive Compensation	StellarOne Corp