Bank of Virginia
The company’s new CEO, Jack Zoeller, was appointed chairman of the board. The appointment is subject to regulatory approval. The bank also disclosed that Zoeller will receive an initial base salary of $250,000.
The bank’s former CEO Frank Bell was appointed vice chairman, an appointment that is also subject to approval from regulators.
Bruce B. Nolte, who came with Zoeller from Cordia Bancorp when it recently acquired majority interest of Bank of Virginia, was appointed as executive vice president and general counsel, pending regulatory approval. Nolte is the former CEO of Community Bankers Trust Corp., the Glen Allen parent of Essex Bank.
Brink’s announced its acquisition of Canadian firm Threshold Financial Technologies Inc. from Versent Corp. for approximately $40 million. Threshold is in the payment solution business specializing in managed ATM and transaction processing services. It brings in around $48 million in annual revenue is approximately $48 million and has 125 employees.
CFO Thomas Reedy Jr. was granted options for more than 13,000 shares with an exercise price of $32.05 per share. The options expire in 2017.
Central Virginia Bankshares
Newly appointed President and CEO Herb Marth acquired 1,000 shares for $0.83 each.
Members of the company’s board of directors each received hundreds of shares at no cost.
Senior Vice President Daniel Pryor was granted options for more than 53,000 shares with an exercise price of $18.75 per share. The options are good until 2018.
Vice President William Flexon exercised options to acquire 2,800 shares for $7.44 per share or about $20,000. He then sold those shares for $18.81 or $52,000.
Mitzi Reynolds, vice president of investor relations exercised options for 2,801 shares at $7.44 per share. She then sold them for $18.58 each, netting about $30,000.
Several of the company’s directors were each granted varying numbers of shares for $42.72 per share.
Director Barry Igdaloff purchased 18,525 for $10.20 per share or $188,955. He owns more than 298,000 shares of Dynex stock.
Eastern Virginia Bankshares
The company filed the details of an employment agreement it entered into with its CFO Douglas Haskett II. The contract, which runs until Dec. 31, 2011, includes an annual salary of $162,000, a $500 monthly car allowance and the usual non-compete and change in control provisions.
Chief Investment Officer Peter Joelson received more than 13,000 restricted stock units that convert into shares of common stock at no cost. He also sold 4,728 shares for $13.43 per shares or $63,497.
The company awarded each of its directors more than 2,000 shares of deferred stock units that will convert to common stock.
James Zimmerman, president of the company’s Virginia/Tennessee market, retired effective Dec. 31.
Zimmerman is succeeded by James Conschafter, previously president of Media General’s North Carolina market.
Taking over for Conschafter is Marilyn Hammond.
Owens & Minor
Director Anne Whittemore converted 1,006 shares of phantom stock into cash worth more than $29,700.
Director Leo Tonkin exercised an option for 50,000 shares at $0.74 per share.
The company’s directors each acquired 257 shares for $19.38 per share.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]