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.

More dough, but a smaller piece of the pie

An FDIC report shows that many locally based banks saw their local deposit base increase in the past year but watched their share of the total market decrease thanks to Bank of America’s growth.

More trouble for Tomac

More of a Midlothian home builder’s lots go into foreclosure.

Bank tries to clean up French’s mess

The lender on two real estate projects left unfinished by developer Justin French might take matters into its own hands. But a current FBI investigation is making it hard for the bank to find out what exactly happened.

Va. Business Bank starts on Plan C

After announcing its intentions last month to raise $20 million in capital and undergo a fundamental shift in strategy, a troubled bank says it is now considering other options. And the future of its head is in question.

The R&D Dept.: Local patents

Some technical stuff this week, including a genetic marker from a VCU lab and some materials processes. And a drinking game innovation for “Beer Pong.”

The waiting game

A Midlothian-based bank will have to wait a few more months to close on much-needed new capital, and the share price of that deal is dropping.

Sheltering Arms expands its reach

Sheltering Arms announced yesterday its acquisition of a local sports injury therapist to add to its rapidly expanding bottom line.