The StellarOne branch at 11450 Robious Road is being converted into a Bank of Lancaster branch. Photo by Michael Schwartz.
A Northern Neck bank is ready for its second shot of the Richmond market.
Bank of Lancaster is set to open its newest local branch at 11450 Robious Road on March 30.
Spokeswoman Judy Fay said the Kilmarnock-based bank received approvals from state and federal regulators to open the location. Minor repairs to the branch and new signage will be its finishing touches.
Bank of Lancaster purchased the 2,500-square-foot property last October from Union Bank. It paid $950,000, according to Chesterfield County records.
The purchase of the Robious location was part of a deal that also allowed Lancaster to sublease another branch in the city at Libbie and Patterson avenues. It opened that location in November.
Both branches were previously occupied by the former StellarOne Bank, which was acquired by Union in 2014. Union and StellarOne closed the branches as part of the deal.
StellarOne purchased the Robious property from Midlothian-based Village Bank for $1.67 million in 2013. Village built the branch in 2007.
Bank of Lancaster is one of several out-of-town institutions expanding its presence in Richmond in search of new revenue outside its home market. It also has a loan production office at Paragon Place.
Charlotte-based Park Sterling Bank has its first full-service local branch in the works at 5601 Patterson Ave., a few doors down from Bank of Lancaster’s branch.
And along that same stretch, Kilmarnock-based Chesapeake Bank is renovating an old office building for its first full Richmond branch.
The three newcomers are helping turn that section of the Libbie-Patterson area into mini financial district in the suburbs.
The StellarOne branch at 11450 Robious Road is being converted into a Bank of Lancaster branch. Photo by Michael Schwartz.
A Northern Neck bank is ready for its second shot of the Richmond market.
Bank of Lancaster is set to open its newest local branch at 11450 Robious Road on March 30.
Spokeswoman Judy Fay said the Kilmarnock-based bank received approvals from state and federal regulators to open the location. Minor repairs to the branch and new signage will be its finishing touches.
Bank of Lancaster purchased the 2,500-square-foot property last October from Union Bank. It paid $950,000, according to Chesterfield County records.
The purchase of the Robious location was part of a deal that also allowed Lancaster to sublease another branch in the city at Libbie and Patterson avenues. It opened that location in November.
Both branches were previously occupied by the former StellarOne Bank, which was acquired by Union in 2014. Union and StellarOne closed the branches as part of the deal.
StellarOne purchased the Robious property from Midlothian-based Village Bank for $1.67 million in 2013. Village built the branch in 2007.
Bank of Lancaster is one of several out-of-town institutions expanding its presence in Richmond in search of new revenue outside its home market. It also has a loan production office at Paragon Place.
Charlotte-based Park Sterling Bank has its first full-service local branch in the works at 5601 Patterson Ave., a few doors down from Bank of Lancaster’s branch.
And along that same stretch, Kilmarnock-based Chesapeake Bank is renovating an old office building for its first full Richmond branch.
The three newcomers are helping turn that section of the Libbie-Patterson area into mini financial district in the suburbs.