Banking

James Stevens, who worked for the bank for more than 20 years, will be sentenced next week in federal court in Richmond.

The banking giant closed its branch within the office tower that bears its name, though its logo remains atop the 24-story building and its other operations continue onsite.

The cleanup job continues at Blue Ridge Bank, and it just got eight figures worth of cash to help it get back on track.

The marriage gives AUB more of a presence in Danville, Lynchburg and Martinsville, in particular. AUB had cited American National’s operations in the Piedmont Triad of North Carolina as a driver of the deal.

“It really is a nice jump start for us to expand our footprint across Richmond and not just in the West End where we’ve been,” First Bank CEO Scott Harvard said of the $47 million deal.

The investors leading the raise include most notably Kenneth Lehman, who has a track record of propping up Richmond-area banks in need of capital.

“You’ve got to play offense in Chesterfield. Everyone wants to be in that market,” C&F executive Matthew Steilberg said of the bank’s move into a former Wells Fargo location.

Richmond’s biggest bank has all the necessary approvals in place to close its deal with the Danville-based bank. It expects to finalize the acquisition on April 1.

The former commercial lender and branch manager worked at the bank for more than 20 years and admitted to a loan scam that spanned 15 years. He faces up to 30 years in federal prison.

The company, which has expanded into dozens of new markets over the last five years, made its move into Richmond earlier this month and set up shop downtown.