Key Numbers from Union Bankshares Corporation (NASDAQ:UBSH) 2Q18 Earnings Report

Union Bankshares Corporation (NASDAQ:UBSH) banking and financial services provider reported net income for the second quarter of $ 47.33 million or $ 0.72 per share, compared to income of $ 17.96 million or $ 0.41 per share for the year-ago quarter.

The topline results for the second quarter rose 57% to $ 108.17 million from $ 68.70 million in the same quarter last year.

Analysts polled by Thomson Reuters expected Union Bankshares to report income of $ 0.62 per share on revenue of $ 129.75 million for the second quarter.

John C. Asbury, President and CEO, stated, This quarter accomplishments included successfully converting the core data systems for Xenith Bank, exiting the mortgage origination business, divesting the national scope marine finance business acquired from Xenith Bank, divesting a non-strategic third party consumer lending portfolio and continuing to build out the commercial banking teams across the franchise.

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