![Atlantic Union Bank unloads dozens of branches in $45M sale/leaseback deal 1 Atlantic Union sign Cropped 1](https://richmondbizsense.com/wp-content/uploads/2023/09/Atlantic-Union-sign-Cropped-1-300x165.jpg)
Richmond’s biggest bank has lightened its load as a landlord and brought in some extra capital as a result.
Richmond’s biggest bank has lightened its load as a landlord and brought in some extra capital as a result.
Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), recently celebrated the launch of its new Diverse Business Banking program in the Virginia market at Virginia Union University in Richmond. Fulton Bank employees, industry professionals and community leaders gathered for networking and to learn more about the program. A group of panelists spoke… Read more »
The Scott’s Addition-based firm has just capped off its third and largest investment fund to date, raising more than three times its previous fund.
Amid an ebb and flow of branch openings and closings across the region, the banking giant is looking to the Chesterfield suburbs for a new location.
It will be the bank’s ninth Richmond-area branch to be put on the chopping block in the last couple years, including two others that are set to close in the coming weeks.
After being stymied in an expansion attempt by the State Corporation Commission last year, Richmond’s biggest credit union is looking to sidestep the state regulator by taking its charter to the federal level.
The $5 billion institution and one of the largest credit unions in the state is entering the Richmond market for the first time with an outpost in Short Pump.
As it looks to shutter its branch on a prime parcel across from Scott’s Addition, the banking giant also has put two additional local outposts on the chopping block.
“We’re not stopping because the community has been reaching out to us … they want branches,” Chase regional head Tom Ing said. “Our real estate team is working tirelessly.”
“We’re very confident that this was a one-off issue. There’s a rogue employee, he’d been conducting this for quite a while…” the bank said of the fraud.
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