More big paydays for area bankers. Plus the former CEO of one local bank resigned from his role as vice chairman. And a local coal company closes on a $475M acquisition.
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.
M&T gets green light for acquisition, will repay TARP
M&T Bank is on the move again, this time with a big buyout in Delaware and a plan to pay off more than $700 million in TARP funds.
Family’s business interests forced into bankruptcy
Two local companies tied to former investment banker Allen Mead Ferguson filed for bankruptcy protection on Tuesday.
Essex Bank enters agreement with regulators
Written agreements lay out steps banks must take to improve their financial situations. In the case of Essex and CBTC, improvements were aimed at getting a handle on all its problem loans and doing a better job of vetting potential borrowers and identifying potential problem loans in the future.
The R&D Dept.: Local Patents for 4.27.11
Technical patents awarded locally this week to Afton Chemical, Dupont, Honeywell and others.
Local bank raises $138 million in new capital
On Thursday, Richmond will be home to a newly public bank flush with fresh capital.
Used cars on consignment
Look out, CarMax: A former investment banker is gunning for a share of the used car market with his startup CarLotz.
Lobbying, PR firm forms new practice
A new division within McGuireWoods’ public affairs and lobbying arm will be led by a former attorney general and a former TV reporter.
Men’s shop goes bankrupt
Freeman’s Men’s Shop filed for Chapter 7 bankruptcy today.
SEC calls out SouthPeak
The chairman and a former executive of a Midlothian video game publisher were slapped with fines last week.