Banking

“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.

The company, founded locally 20 years ago by Gil Grattan, signed a deal last month with a California-based private equity firm to take on its first ever round of outside capital.

The move was spurred by the firm luring a veteran local investment advisor from a rival to lead its expansion here.

The Richmond region’s biggest credit union has yet another initiative in the works to increase its size and stature in the state.

In a year when rising interest rates kept the banking industry on its toes, two of Richmond’s biggest financial institutions in particular grabbed repeated headlines.

One of Richmond’s biggest financial institutions has closed out the year by taking a small Charlottesville credit union under its wing.

As it awaits construction of its first Richmond-area branch near Willow Lawn, the $45 billion Pennsylvania-based bank has already scouted out a second location in the region.