Banking

Federal prosecutors are seeking a prison sentence of 30-37 months for longtime Fed employee Robert Brian Thompson, while he has asked for 15 months.

The all-cash deal, valued at $120 million, is now set to close early next month and would double TowneBank’s Richmond-area branch footprint.

After making a fairly quiet entrance into the Richmond market two years ago, the $5 billion Mount Oliver, N.C.-based bank is looking to ramp things up.

Fresh off an acquisition that significantly expanded its footprint in the region, the Strasburg, Va.-based bank has hired a seasoned local CEO to help lead its growth in Richmond.

The deal that will see the $500 million credit union move its home base shift from South Richmond to Henrico County.

The pending deal to create a $39 billion regional banking behemoth looks to have a clear path to the closing table.  

VACU is at least the second Courthouse Landing tenant to acquire land within the 124-acre mixed-use development. Convenience store and gas station chain Sheetz was the first to get underway.

The banking giant will soon have two new from-scratch branches open for business in the region and plans to spend $20 million on local upgrades and additional expansions in the near future.

Mergers and acquisitions across all ends of the size spectrum were the hot topic in the local banking sector in 2024.

The Milwaukee-based national firm made its entrance into the local market by recruiting a duo from a rival company.