With a deep-pocketed fail-safe in place, a local bank has devised a plan to raise a pile of cash in hopes of shoring up its capital cushion and keeping shareholders happy.
Michael Schwartz
Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.
Local bank picks up Md., branch from Capital One
A Glen Allen bank is replacing a shut-down Maryland branch for a better location that was recently acquired by Capital One.
New hires add bulk to firms' Southeast offices
Two of Richmond’s big firms in accounting and asset management are bringing new people over from competitors in the Charlotte and Miami markets.
Trading Day: Local SEC filings for Nov. 13, 2014
Insiders are selling off shares, including the namesake of a local insurance giant cashing out for $2 million. And Richmond’s king of tobacco puts out a $1 billion debt offering.
Thefts dent armored car company revenue
With a loss of at least $14 million to thieves, a local armored transportation company’s biggest market is also a big liability.
?Fire, police credit unions join forces
The latest in a string of local credit union mergers is looking to bring city police and firefighters under one roof.
Trading Day: Local SEC filings for Nov. 6, 2014
A local insider cashes out on a $2.3M stock option, an executive sells thousands of shares, and Richmond’s biggest bank pays a dividend.
Financial firm plants another foot in Jersey
Keeping up with its goal of two new offices a year, a local financial firm has scooped up another advisor and added another location in the Northeast.
First of Libbie's new banks opens branch
A Northern Neck bank has its first Richmond branch up and running in a part of town that has become a local banking hub. But the branch opened without the help of the veteran local banker that Bank of Lancaster had tapped to lead its Richmond efforts.
Stony Point mall sale price tops $70M
The recent sale of the Southside mall rang up as eight figures.