The troubled Norfolk-based successor of Bank of Richmond yesterday became the latest bank to enter into an agreement with federal and state regulators by which it must devise a turnaround plan.
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.
Cigar smoking duck attacks credit unions
A non-profit political action organization has launched an ad campaign attacking the tax exemption of credit unions, arguing they should be taxed like their banking counterparts.
New shop saw hole in the donut market
A new donut shop has opened up near Innsbrook with the help of stimulus money from the state. And the owners want to employ some disabled workers.
Trading Day 6.17.10
Altria Group The company said it is registering 50 million shares of its common stock for its 2010 Performance Incentive Plan for certain employees. The company also said it is registering an additional 750,000 shares for its stock compensation plan for non-employee directors. Brink’s Co. Matthew Schumacher, the company’s controller, exercised options to acquire 3,674… Read more »
nHealth fallout deals blow to small employers
Lost in the politics of a local health insurance firm’s decision to exit the insurance market is the fate of the small businesses who offered the company’s insurer’s plans to its employees.
Local credit union may need a life line
Richmond is home to two of the lowest rated financial institutions in the state, according to bank and credit union ratings released last week. But of the 18 community banks headquartered in the Richmond area, four had 5-star superior ratings.
Lights out for parking garage electric bills?
A local entrepreneur wants to bring cutting-edge technology that can save time and money to the mundane parking lot business.
First Capital Bank, what’s up your sleeve?
A local bank that tried last year to orchestrate a sizeable merger appears once again to be positioning itself for a transaction.
With healthcare reform looming, nHealth was losing millions
The financial records of nHealth, the Richmond-based startup health insurer that said last week it was shutting down as a result of federal healthcare reform, show it was losing millions in its first year and a half of existence.
Media General joins battle for newspaper street vendors
Richmond-based Media General jumped into the legal fray in Florida this week when it filed a motion in federal court there to fight a proposed ban on street solicitation in St. Petersburg, according to a report from the Tampa Tribune. Media General, owner of the Richmond Times Dispatch and the Tampa paper, joined forces with… Read more »