Two Richmond credit unions joined forces last week in a merger that will add $18 million in assets to the surviving institution and give it a presence on both sides of the James River as it looks to expand.
Local credit unions unite
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.
Trading Day: Local SEC filings for 5.1.14
A downtown firm said it is cutting 45 jobs, including two of its higher level executives. First quarter dividend season begins and Richmond’s king of tobacco finishes off an e-cigarette-related acquisition.
Look for the Union label – on a bank
Richmond’s biggest bank borrows from the past as it streamlines the name of its Union Bankshares holding company and plans to rebrand itself.
Firm gets new $4M home, complete with big rig in the sky
A local auction and real estate firm has a shiny new home and a new umbrella identity.
Trading Day: Local SEC filings for 4.24.14
A CarMax director steps down. A local REIT is looking to raise $38M. And a Richmond tobacco supplier is getting into the sweet potato business.
Bank out from under TARP
A Glen Allen-based bank on Wednesday used a loan to buy back its remaining $10M worth of TARP shares from the U.S. Treasury. It was the last remaining local bank in the once-controversial program.
A fight over the fine print
A bankrupt Richmond restaurateur has thrown a legal jab back at a Midlothian bank, including an argument about font size.
DealFlow: M&A roundup for 4.23.14
Hundreds of millions of dollars worth of deals closed by local investment banking firms this month including Harris Williams, Transact Capital and BB&T Capital Markets.
Deal bagged for golf equipment
A Richmond-based golf gear maker has scored an acquisition north of the border.
It was good to be the king in 2013
The CEOs of 13 local publicly traded companies saw the value of their total pay packages rise by an average of $749,000, or 10.6 percent, last year.