First Citizens’ new Libbie branch was left vacant this year by the former Middleburg Bank. (Michael Schwartz)
A Raleigh-based bank wasted little time in getting up and running in the Westhampton neighborhood.
First Citizens Bank & Trust last week opened for business at 315 Libbie Ave., its sixth branch in the Richmond market.
The bank, which expanded its local presence in 2016 when it acquired Midlothian-based Bank of Virginia, jumped on the 3,000-square-foot Libbie branch after it was left empty this summer by Middleburg Bank.
Planting its flag on Libbie puts it in a competitive stretch of the Richmond banking market, particularly around the corner on Patterson Avenue, which added another new arrival last month when Strasburg, Virginia-based First Bank opened its first local outpost.
“The new location puts First Citizens near the heart of the city, close to a major banking hub and a heavily traveled corridor,” First Citizens spokesman Frank Smith said in an emailed statement last week.
The $34 billion bank is led locally by executive Jack Sorrells, a Washington & Lee grad who joined First Citizens a few years ago after a long stint with BB&T.
It has more than 500 branches nationally, including two additional branches in Henrico and three in Chesterfield County.
As of June 30, First Citizens controlled $320.5 million in local deposits, according to the most recent FDIC figures.
First Citizens’ new Libbie branch was left vacant this year by the former Middleburg Bank. (Michael Schwartz)
A Raleigh-based bank wasted little time in getting up and running in the Westhampton neighborhood.
First Citizens Bank & Trust last week opened for business at 315 Libbie Ave., its sixth branch in the Richmond market.
The bank, which expanded its local presence in 2016 when it acquired Midlothian-based Bank of Virginia, jumped on the 3,000-square-foot Libbie branch after it was left empty this summer by Middleburg Bank.
Planting its flag on Libbie puts it in a competitive stretch of the Richmond banking market, particularly around the corner on Patterson Avenue, which added another new arrival last month when Strasburg, Virginia-based First Bank opened its first local outpost.
“The new location puts First Citizens near the heart of the city, close to a major banking hub and a heavily traveled corridor,” First Citizens spokesman Frank Smith said in an emailed statement last week.
The $34 billion bank is led locally by executive Jack Sorrells, a Washington & Lee grad who joined First Citizens a few years ago after a long stint with BB&T.
It has more than 500 branches nationally, including two additional branches in Henrico and three in Chesterfield County.
As of June 30, First Citizens controlled $320.5 million in local deposits, according to the most recent FDIC figures.