The pandemic put some deals on hold but there was an executive shuffle and an aggressive expansion by several financial institutions.
Richmond banking recap for 2020: M&A action, CEO changes, new branches
Banking
Chase Bank following Publix into new Carytown Exchange development
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.
TowneBank unveils first Chesterfield branch, eyes two more sites in county
The Hampton Roads-based bank in October opened its new 8,500-square-foot location at 9961 Iron Bridge.
Richmond investment bank relocates headquarters to Florida
“From Virginia it saves you 5.7 percent” in income taxes, Boxwood Partners’ Patrick Galleher said.
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.