A Glen Allen insurance company just picked up an insurance subsidiary from a Hampton Roads bank.
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.
Trading Day: Inside the SEC filings for 8.4.2011
Apple REIT might be looking to sell or take public one of its funds. Plus, a local bank makes a huge turnaround in the second quarter.
Big-dollar permits filed for downtown bank’s build-out
About $1.7 million worth of building permits have been filed for Union First Market Bankshares’ corporate headquarters at Three James Center.
The R&D Dept.: Local Patents for 8.3.11
Inventions from some interesting local companies this week including a company a call The Bill Police and Wealthcare Capital Management.
A shot of adrenaline for Intelliject
After seven years of development and regulatory wrangling, a Shockoe Slip-based drug device maker has moved a big step closer to getting its flagship product to market. But a huge obstacle still looms.
Tiny credit union swallowed by Henrico competitor
M&A action among local financial institutions continues, this time with a merger between two local credit unions.
Local bank seized by regulators
Virginia Business Bank failed Friday and was seized and shut down by regulators, making it the third Virginia bank to fail since the recession began. Its assets were purchased by another local bank that’s gone on a buying spree lately.
Xenith Bank’s growth spurt
The Richmond-based bank began last week with about $288 million in assets. Then it went on a buying binge, closing two acquisitions Friday.
Going Dutch
A Richmond insurer is set to open a Netherlands office.
Region’s major banks get their groove back
But Bank of America, which has the most market share of any bank in Richmond, didn’t fare so well.