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.
The parent company of a Raleigh, N.C.-based bank that does business locally raised $5 million in a recent offering.
A Glen Allen-based bank said late Thursday its CEO stepped down effective immediately and that it is cutting 10 percent of its workforce.
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.
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.
Apple Reit is at it again, gobbling up more hotels. Plus a member of the board at a local bank calls it quits, and a Chesterfield maker of video games sells $2 million in bonds.
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.
John Watkins doesn’t like what he sees when he Googles the name of his new business.
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.
A slimmer Trading Day this week, with moves at an up-start bank. Plus Dominion is selling bonds that pay only 2.25 percent.