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 banks’ recent ratings are a mixed bag

The Village Bank headquarters on Midlothian Turnpike. (Courtesy of CBRE)

Village Bank improved its standing in the fourth quarter, according to a firm that rates all federally insured financial institutions, after being among the lowest rated banks in the state for several periods. But another local bank took a step backward.

Trading Day: Inside local SEC filings for 3.14.13

A director is leaving a local board. A California firm takes another shot at the shareholders of a local REIT. Several large insider sales this week. And a huge tobacco settlement moves forward.

Local REIT’s funds under SEC scrutiny

The Apple REIT sign.

Four of downtown-based Apple REIT’s funds are being looked at by the SEC for issues related to the “adequacy of certain disclosures” in their regulatory filings.

Markel makes $9.5 million cash withdrawal

Union First Market Bank headquarters

The local insurer, which is in the midst of a $3 billion acquisition, continues to unload its stake in Richmond’s biggest bank.