Southern Community Bank, an offshoot of Sevier County Bank, is the third new bank John Presley has helped launch locally.
The 4,000-square-foot Midlothian Turnpike property has sat vacant for about a year.
The pandemic put some deals on hold but there was an executive shuffle and an aggressive expansion by several financial institutions.
It will be at least the fourth Richmond-area branch in the works for Chase, in addition to the first two it opened this year in Short Pump and Henrico.
The Hampton Roads-based bank in October opened its new 8,500-square-foot location at 9961 Iron Bridge.
“From Virginia it saves you 5.7 percent” in income taxes, Boxwood Partners’ Patrick Galleher said.
The banking giant will building from scratch in Chesterfield and Hanover counties, and also recently bought the former Peking Pavilion building in Shockoe Slip for $1.2 million.
First Bank & Trust is opening its first full-service branch in the Richmond market in a former SunTrust building.
First Citizens Bank purchased the property at 6551 Centralia Road for $1.75 million and plans to open its own branch there.
An examiner recommended upholding the disputed approval of VACU’s application to offer membership to the 10,000-member Medical Society of Virginia.