Community Bank Investors of America, better known as CBIA, is a private equity fund founded in 2007 by two locals to identify struggling, undervalued community banks, take an equity position in them and, in some cases, take over leadership of the bank. This week RBS chats with one of the founders about the challenges of that sort of work these days.
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.
Shuttered investment firm leaves odd prop
A troubled investment firm shuttered it’s office in the Bank of America building last week. The firm’s leader has come under investigation for fraud. Now there’s a strange prop visible in the office.
CFO of Gateway Bank parent resigns
The CFO of the battered holding company of Gateway Bank has announced his resignation, the company said in a regulatory filing yesterday.
First Capital decides to stop renting
First Capital Bank has become the proud owner of its Innsbrook corporate headquarters after leasing space there for five years.