Richmond’s biggest locally-based bank will open a 1,500-square-foot storefront at 1400 Roseneath Road in the Scott’s View mixed-use development.
New Horizon Bank, the smallest bank in the Richmond region with a single branch, was acquired by holding company CSBH.
he new from scratch bank at 4508 S. Laburnum Ave. would be at least the ninth Richmond-area branch either open for business or in the works for Chase.
The now-vacant property, which has been home to a variety of hospitality concepts, is on the block for the second time in six years.
Randy Greene turned in his resignation letter Feb. 9, barely a week after the deal was consummated between Blue Ridge Bank and Virginia Commonwealth Bank.
The merger of banking giants SunTrust and BB&T created large-scale branch overlap and consolidation has begun.
Blue Ridge Bank will be the surviving brand of a combined entity with $2.8 billion in total assets and 35 branches in Virginia and North Carolina.
About 320 jobs in the Wealth & Investment Management division are being cut locally but 2,000 workers from other divisions will remain here.
The bank’s executive team and board came up with the new brand, which CEO Dennis Zember said is Latin for “first.”
The firm has about 30 employees in Richmond, 10 of which will relocate to the 4,900-square-foot space that had housed the 3Sports triathlete shop.