Heartland Payment Systems and Union Bankshares Partner to Offer Business Clients Expanded Services
Company Release - 09/16/2008 16:01
PRINCETON, N.J.--(BUSINESS WIRE)--
Heartland Payment Systems(TM) (NYSE: HPY), a leading provider of card processing, payroll, check management and payments services, and Union Bankshares Corporation ("UBSH") (NASDAQ: UBSH) are partnering to offer businesses in Virginia the benefit of their combined services. UBSH is a $2.3 billion bank holding company headquartered in Bowling Green, Virginia.
The strategic partnership provides expanded services to business customers of both companies. Heartland will offer credit/debit/prepaid card processing and payroll solutions to UBSH's clients and, in turn, recommend UBSH's business banking solutions to its customers.
"Union Bankshares Corporation operates one of the strongest regional banking franchises in the state of Virginia," said Brad Wilson, director of bank alliances at Heartland. "The UBSH banks are committed to offering best-in-class products and services to their customers -- as is Heartland. Together, we bring strong financial services solutions to business owners so they can focus on what really matters -- improving and growing their businesses."
"We always seek strategic opportunities to offer our customers the products and services they request and require to operate their businesses," said G. William Beale, UBSH's president and chief executive officer. "Together with Heartland, we give our customers access to efficient, cost-effective payments and payroll processing, business banking services and reliable customer service. In return, both of our companies expect to benefit from new opportunities for growth."
About Heartland Payment Systems
Heartland Payment Systems, Inc., a NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 businesses nationwide.
Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, visit www.HeartlandPaymentSystems.com and www.MerchantBillOfRights.com .
About Union Bankshares Corporation
Union Bankshares Corporation (NASDAQ: UBSH) is a $2.3 billion financial services holding company committed to serving consumers and small to mid-sized businesses through its family of community banks and financial services companies. It operates 58 offices under four bank brands in Virginia: Union Bank and Trust Company, Northern Neck State Bank, Bay Community Bank, and Rappahannock National Bank. Non-bank affiliates include Union Investment Services, Inc., providing full brokerage services, Union Mortgage Group, Inc., providing a full line of mortgage products, and Union Insurance Group, LLC.
Forward-looking Statements
This press release may contain statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors. Information concerning these factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to, the Company's registration statement on Form 10- K, or Form 10-Q as applicable. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Source: Heartland Payment Systems, Inc.
Contact: Media Contact Gregory FCA Communications Paul Johnson, 610-228-2113 Paul@GregoryFCA.com or Heartland Payment Systems Nancy Gross, 888-798-3131 Ext. 2202 nancy.gross@e-hps.com