“From Virginia it saves you 5.7 percent” in income taxes, Boxwood Partners’ Patrick Galleher said.
Richmond investment bank relocates headquarters to Florida
Banking
Chase Bank plans two more local branches in Midlothian, Mechanicsville
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.
Abingdon bank branching out in Hanover
First Bank & Trust is opening its first full-service branch in the Richmond market in a former SunTrust building.
Raleigh-based bank grabs former Village Bank branch in Chesterfield
First Citizens Bank purchased the property at 6551 Centralia Road for $1.75 million and plans to open its own branch there.
Virginia Credit Union gains an edge in legal battle with Virginia banks
An examiner recommended upholding the disputed approval of VACU’s application to offer membership to the 10,000-member Medical Society of Virginia.
Richmond-area banks flush with deposits
While Richmonders appear to have been socking away cash over the last year, there’s also been continued shuffling in the upper ranks of the region’s battle for bank deposits.
N.C. bank’s wealth management arm to set up shop in Richmond
First Citizens Bank & Trust already has six retail locations in the area.
Midlothian bank swooping into Scott’s Addition with branch in The Nest
Village Bank leased space at 3117 W. Marshall St. but it will close its location at 1650 Willow Lawn Drive when the new branch opens.
Henrico-based Sonabank scores $60M in capital raise
Sonabank shuttered three branches in July but new CEO Dennis Zember sees opportunities for growth, especially in Northern Virginia and Washington, D.C.
Atlantic Union trims 14 branches, including two in the West End
The consolidation, which is partly due to the rise of mobile and online banking, will reduce the locally-based bank’s branch count to 135.