Banking

A $220 million deal to acquire a Chesapeake competitor will nearly double the size of TowneBank’s local lending force and will also fill out its ranks with some new executives.

Awaiting approval to be acquired by a North Carolina company, a local bank is continuing expand, finally developing a property it has owned for years in Hanover County.

Just a month after opening a new branch in Chesterfield, a quickly expanding credit union is working on its next location and scouting out more space on Midlothian Turnpike.

The new CEO of Lumber Liquidators took up his post Monday, and he’s leaving his banking career behind with a lucrative new contract and consulting gig.

The bank chief whose company is approaching a big merger is abandoning a consulting gig to become CEO of Lumber Liquidators, a flooring company in the throes of a scandal.

Weighing the possibility of another full branch, a Northern Neck bank is setting up another loan office in Chesterfield County.

After establishing its local banking presence through a major acquisition earlier this year, TowneBank is now building up its insurance operations and has bought out three smaller firms.

Richmond-area banks have added a combined $3.4 billion in local deposits since last summer, but the clout of Capital One and a few new arrivals have chipped away at the market share of the area’s four major players.

The unexpected merger announcement Thursday between Park Sterling and First Capital banks has been on both companies’ radars for years – and the two sides almost joined forces once before.

One of the larger newcomers to the Richmond banking market has made its biggest local splash to date with plans to acquire First Capital Bank in a deal valued at $82.5 million.