Bank of Lancaster has officially landed on the Southside.
The Kilmarnock-based bank opened a new branch this month at 11450 Robious Road in Chesterfield County.
It’s the bank’s second branch in the Richmond market since it took a leap into the region last year, its first move outside its Northern Neck home market. It also has a loan production office at Paragon Place.
The bank purchased the Robious location as part of a deal with Union Bank & Trust that included a sublease of a coveted branch in the city at Libbie and Patterson avenues. That location opened in November.
Bank of Lancaster’s arrival is the third incarnation in the last three years for the 2,500-square-foot Robious property. It was built originally by Midlothian-based Village Bank in 2007, then sold to StellarOne Bank in 2013. Union took on the property as part of its acquisition of StellarOne and sold it Lancaster for $950,000, according to county records.
The $390 million bank has outfitted the Chesterfield branch with several staffers, including members of its lending and investment adviser operations.
Bank of Lancaster is one of several out-of-town institutions expanding its presence in Richmond.
Other newcomers to the area include Lancaster’s Northern Neck competitor Chesapeake Bank, Charlotte-based Park Sterling Bank and Hampton Roads-based TowneBank, which is looking to make a big splash with a prominent new branch downtown.