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Interest rate incentives catch fire

Interest rate incentives catch fire

Al Harris October 2, 2009 0

Everybody’s doing it. First it was First Market Bank offering a 3.99 percent interest rate to homebuyers purchasing from a builder they had lent construction money to. Several banks followed suit, including Midlothian-based Village Bank

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SBA lending rebounds

SBA lending rebounds

Aaron Kremer September 30, 2009 0

Lending is starting to flow again to small businesses. Two quarters ago, the number of SBA loans was down more than 50 percent from the previous year. But as the fiscal year comes to

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First Market Bank cuts ‘duplicate’ jobs

First Market Bank cuts ‘duplicate’ jobs

Al Harris September 28, 2009 0

As part of a 9 percent cut in overhead, First Market Bank and Union Bankshares – which are in the process of melding operations – recently cut around 50 jobs

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New head at Virginia Business Bank

New head at Virginia Business Bank

Aaron Kremer September 16, 2009 1

Merlin Henkel, the former president and chief executive of Virginia Business Bank, has been replaced by Terrie G. Spiro, an executive with decades of experience at regional banks in the mid-Atlantic

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Union Bankshares to sell $62.5 million in stock

Union Bankshares to sell $62.5 million in stock

Al Harris September 9, 2009 0

Bowling Green-based Union Bankshares announced Tuesday that it intends to sell $62.5 million in new stock, or the equivalent of 31 percent of its current market cap. Plus, for the first time, First Market

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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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