Hampton Roads’ largest bank is entering the Richmond market in a big way, announcing this morning a deal to acquire a longtime local institution, its eight branches and its $1 billion in assets.
Local bank to be acquired in $275M deal
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 trade group crafts merger in W.Va.
The Virginia and West Virginia bankers associations are working on a merger agreement that would bring the two lobbying and industry groups under one umbrella nonprofit.
Local restaurant files Chapter 7
Arcadia Restaurant at 1700 E. Main St. filed bankruptcy on July 11, about two weeks after its closed on June 22.
Settlement talks continue in LandAmerica pension dispute
Two disgruntled employees of the fallen Richmond financial firm want another round in mediation with their former bosses.
Resort firm freed from Chapter 11
A Richmond timeshare company with a vacation property in the Bahamas, was released from bankruptcy last week after a dispute with the estate of a Richmond attorney and two local churches.
TowneBank begins its move into Richmond
One of the dominant banks in Hampton Roads has a plan in the works to build its first branch in Richmond and has already hired a veteran local banker to lead the charge.
Latest Richmond bank deal is sealed
A Richmond-based bank is continuing to grow, finalizing a deal to acquire a smaller bank from Gloucester.
Trading Day: Local SEC filings for 6.26.14
Two local companies have nearly $300 million in acquisitions in the works. Plus a local Fortune 500 is in expansion mode. And a local bank gets some recognition on the stock market.
Rick Sharp, former Circuit City CEO and CarMax founder, dead at 67
“He didn’t know a Sony from an RCA, but I thought he was smart as hell,” said Alan Wurtzel, Sharp’s predecessor as Circuit City CEO. “I was right, he’s brilliant.”
Christian credit union seeks wider reach
A Richmond credit union with a religious niche has petitioned for a new designation that would give it more leeway to seek out customers at a faster rate.