Raleigh-based bank grabs former Village Bank branch in Chesterfield

10.14R First Citizens

The former Village Bank branch that First Citizens Bank will be taking over. (Michael Schwartz photo)

A $48 billion Raleigh-based bank is on the move again in the Richmond market.

First Citizens Bank in recent weeks purchased the former Village Bank branch property at 6551 Centralia Road. It paid $1.75 million for the free-standing building, which sits at the intersection with Iron Bridge Road within the Chesterfield Meadows Shopping Center.

“Our intent is to open a new First Citizens Bank branch at this location, pending regulatory approval, in late first quarter next year,” the company said in an email. “The new location will allow for additional growth for our bank.”

10.14R First Citizens sign

First Citizens Bank holds about $283 million in deposits across its Richmond branches.

It would be the bank’s seventh retail branch in the Richmond market and comes on the heels of it leasing space in Henrico County for its first wealth management office in the area.

The seller in the Centralia deal was the group that owns the surrounding Chesterfield Meadows Shopping Center, which houses tenants such as Pleasants Hardware, Subway and Dollar Tree. The seller was represented in the deal by Bob Butcher from S.L. Nusbaum.

First Citizens entered the Richmond market in 2001 with a loan production office. It added a branch a year later in North Chesterfield and one in Short Pump, before acquiring Bank of Virginia in 2016. First Citizens holds about $283 million in deposits across its Richmond branches, according to recently released FDIC stats.

Village Bank, meanwhile, is expanding for the first time into the city, taking space in a new development in Scott’s Addition.

10.14R First Citizens

The former Village Bank branch that First Citizens Bank will be taking over. (Michael Schwartz photo)

A $48 billion Raleigh-based bank is on the move again in the Richmond market.

First Citizens Bank in recent weeks purchased the former Village Bank branch property at 6551 Centralia Road. It paid $1.75 million for the free-standing building, which sits at the intersection with Iron Bridge Road within the Chesterfield Meadows Shopping Center.

“Our intent is to open a new First Citizens Bank branch at this location, pending regulatory approval, in late first quarter next year,” the company said in an email. “The new location will allow for additional growth for our bank.”

10.14R First Citizens sign

First Citizens Bank holds about $283 million in deposits across its Richmond branches.

It would be the bank’s seventh retail branch in the Richmond market and comes on the heels of it leasing space in Henrico County for its first wealth management office in the area.

The seller in the Centralia deal was the group that owns the surrounding Chesterfield Meadows Shopping Center, which houses tenants such as Pleasants Hardware, Subway and Dollar Tree. The seller was represented in the deal by Bob Butcher from S.L. Nusbaum.

First Citizens entered the Richmond market in 2001 with a loan production office. It added a branch a year later in North Chesterfield and one in Short Pump, before acquiring Bank of Virginia in 2016. First Citizens holds about $283 million in deposits across its Richmond branches, according to recently released FDIC stats.

Village Bank, meanwhile, is expanding for the first time into the city, taking space in a new development in Scott’s Addition.

This story is for our paid subscribers only. Please become one of the thousands of BizSense Pro readers today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

Subscribe
Notify of
guest

0 Comments
oldest
newest most voted
Inline Feedbacks
View all comments