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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.
United Bank expanding locally with East End branch
It would be the $29 billion bank’s first new local branch since it entered the region in 2021 with the acquisition of Henrico-based Essex Bank.
Hild ordered to pay revised restitution amount of $45M
The nearly two-year debate over how much criminal restitution embattled Richmond businessman Michael Hild must pay to his victims appears to have been decided.
Locally based Touchstone Bank now part of Strasburg’s First Bank
The deal brings First Bank to $2.1 billion in total assets and includes Touchstone’s seven local branches and $338 million in local deposits.
Bankrupt LL Flooring completes $140M asset sale
The Henrico-based retailer on Monday finalized the sale of about half of its 400 stores and its intellectual property to founder and former CEO Tom Sullivan, while it also sold its massive Sandston distribution center to data center giant QTS.
Village Bank investor turns $8M into $62M thanks to TowneBank deal
Nearly a decade after he invested $8 million to help get Village out of trouble, seasoned bank investor Ken Lehman is due an eight-figure windfall.
TowneBank eyes growth in Chesterfield, Hanover as part of $120M Village Bank acquisition
“Particularly in Chesterfield and Hanover counties, this will kind of complete our branching network,” said Towne’s Executive Chairman Bob Aston. “Chesterfield and Hanover are growing like crazy.”
Breaking News: TowneBank to acquire Midlothian-based Village Bank in $120M deal
TowneBank is grabbing a bigger piece of the Richmond market. The $17 billion Hampton Roads-based bank announced this morning a deal to acquire Midlothian-based competitor Village Bank. The move would give Towne an extra nine branches in the Richmond region to go along with its nine existing local locations, as well as taking on Village’s… Read more »
BofA, Truist, Wells Fargo lose ground in local deposit rankings
The trio, which for years have dominated the annual rankings, reported a combined drop in their local deposits of $1.45 billion as of June 30, compared to the same period last year.
Wells Fargo closing North Chesterfield branch
The bank will have 39 branches remaining in the Richmond metro area after the Nov. 6 closure. That’s down from 45 a year ago and 56 five years ago.