Lots of moves this week at local banks. Plus a hotel REIT keeps on buying.
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.
Markel goes shopping in Bermuda
Markel Corp. has acquired an entity that insures livestock and horses from a Bermuda-based insurance company.
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.
Business bank’s parent raises capital
The parent company of a Raleigh, N.C.-based bank that does business locally raised $5 million in a recent offering.
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.
Trading Day: Inside SEC filings for local companies for 9.9.10
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.
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.
Entrepreneur faces online ghosts of partnerships past
John Watkins doesn’t like what he sees when he Googles the name of his new business.