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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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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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First Market Bank bought by Union Bankshares

First Market Bank bought by Union Bankshares

Aaron Kremer March 31, 2009 5

Richmond-based First Market Bank was acquired by Union Bankshares Corp. in an all-stock deal valued at about $100 million. The new holding company will move its headquarters from Bowling Green to Richmond, although that

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It’s still good to be the banker

It’s still good to be the banker

Aaron Kremer March 12, 2009 1

Tarp Schmarp. Executives at Union Bankshares Corp., the parent of local Union Bank and Trust and its 43 locations, earned slightly more in 2008 than in 2007, despite a rough year. The bank accepted

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Calling all good business loans

Calling all good business loans

Aaron Kremer February 17, 2009 2

Change takes time. That’s one reason the Virginia Small Business Financing Authority cites when asked why its Loan Guaranty Program, which launched in October, has failed to guarantee a single loan

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Virginia bank acquires 4 branches in Md.

Virginia bank acquires 4 branches in Md.

Al Harris February 3, 2009 1

Another failed bank is just another opportunity for Tappahannock-based Bank of Essex. On Saturday, the Bank of Essex assumed operations of Suburban Federal Savings Bank in Crofton Md. after it was seized by federal

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Bank branches out to Georgia

Bank branches out to Georgia

Al Harris November 25, 2008 0

The Bank of Essex has assumed $600 million in deposits previously held by The Community Bank in Loganville, Ga. A Richmond-based bank has gobbled up deposits of a failed Georgia bank. Tappahannock-based Bank of

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