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.

Two local banks get lowest rating

Two local banks were among the lowest-rated financial institutions in the state, according to bank and credit union ratings released last week. But both banks are trying hard to fix the situation ASAP.

Bank CEO steps down, cuts coming

A Glen Allen-based bank said late Thursday its CEO stepped down effective immediately and that it is cutting 10 percent of its workforce.

Monday Q&A: Life after Circuit City

While working as vice president of TV merchandising at Circuit City, Tom Crowell saw the writing on the wall. Last week he talked with BizSense about life after Circuit City and running a small business.

Virginia Business Bank hits the reset button

But the ambitious plan requires the bank to raise $20 million and the lifting of a regulatory agreement. The bank seeks to pick up retail customers on the Eastern Shore.

Financial firm chooses Richmond for its home base

Cortview Capital Securities opened for business in Richmond yesterday to compete in the local broker-dealer scene with the help of $125 million from a private equity fund.

Bank’s heritage consolidated into the history books

A local bank brand known for its African American heritage is getting a name change. And it’s a clever move by the bank’s out-of-state owners to help clean up a regulatory impediment.