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Regulators request turnaround plan from Va. Business Bank

Regulators request turnaround plan from Va. Business Bank

Aaron Kremer August 26, 2009 0

At the request of state and federal regulators, Richmond-based Virginia Business Bank must submit a survival plan that assesses management and basic metrics and prevents the bank from lending more to borrowers who are

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Monday Q&A: The new bank on the block

Monday Q&A: The new bank on the block

Al Harris August 24, 2009 0

It’s no fun to be a banker right now. Businesses are complaining about their loans or credit lines, and the government is getting more and more active in regulation. But an out-of-state bank thinks

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Union Bank & Trust closes branch in Short Pump

Union Bank & Trust closes branch in Short Pump

Al Harris August 20, 2009 0

Union Bank & Trust, based in Bowling Green but in the process of buying First Market Bank, recently closed the doors of its Pouncey Tract Road location.

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A Legacy on the Line

A Legacy on the Line

Al Harris August 18, 2009 0

When Maggie L. Walker founded St. Luke Penny Savings in Richmond 106 years ago, she became the first female bank president in the country. The institution survives today as Consolidated Bank and Trust, but

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Virginia Business Bank hires Davenport to examine strategic options

Virginia Business Bank hires Davenport to examine strategic options

Aaron Kremer August 12, 2009 0

The bank planned on raising $6 million to $9 million last fall, but, given the economic climate, that has proved more difficult than expected. The company was only able to raise a fraction of

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Discount mortgages encouraging buyers

Discount mortgages encouraging buyers

Al Harris August 3, 2009 1

Just when it seemed mortgage rates couldn’t get any lower, First Market Bank dipped below 4 percent on mortgages for homes sold by homebuilders they lent to. Other banks followed suit, and the

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BB&T investment arm sued by Little Rock firm

BB&T investment arm sued by Little Rock firm

Al Harris July 24, 2009 0

Scott & Stringfellow, the investment-banking subsidiary of BB&T, is being sued for stealing clients and company secrets as it recruited analysts from a competitor’s Richmond office

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Eight Richmond branches now M&T Bank

Eight Richmond branches now M&T Bank

Al Harris June 9, 2009 1

Eight local bank branches previously operated by Maryland-based Provident Bank are under new ownership, and the new owner has a reputation for being SBA-friendly.

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Three years for bank to become profitable

Three years for bank to become profitable

Aaron Kremer April 15, 2009 0

Pour a round of the good stuff. After three years in operation, Virginia Business Bank recorded its first quarterly profit in this year’s first quarter

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Two more Virginia banks merge

Two more Virginia banks merge

Al Harris April 3, 2009 0

Eastern Virginia Bankshares and First Capital Bancorp announced today that they plan to merge. The all-stock deal is valued at about $27 million, with First Capital common stockholders receiving .98 shares of Eastern Virginia

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