Banking

A 26-year-old national mortgage lending company is establishing its first physical presence in the Richmond market. New Jersey-based Freedom Mortgage has opened a local branch at 4323 Cox Road in Innsbrook. Managed by Kimberly Garnett, who came over from Wells Fargo, the 2,200-square-foot space is one of several retail offices that Freedom is opening across… Read more »

A special guest threw out the ceremonial first pitch Thursday at Virginia Tech’s newly named English Field at Union Park, a moniker that Union Bank & Trust hopes will lead to increased visibility in one of its bigger markets in the state.

As it works to complete its new local headquarters downtown, TowneBank is moving forward with another new location at a major development to the west. The Hampton Roads-based bank last month received approval from state and federal regulators to open its latest Richmond branch, in Gumenick Properties’ 80-acre Libbie Mill Midtown development off Staples Mill… Read more »

Jack Zoeller is going back full-on into startup mode. The founder of Cordia Bancorp, parent of Midlothian-based Bank of Virginia, has relinquished his role as CEO of the company in conjunction with his purchase and independent spin-off of CordiaGrad, a student loan refinance company that launched within the bank last year. The change was effective… Read more »

The number two at one of Richmond’s biggest financial institutions is ready to take the top seat. Chris Shockley last week was named the next president and CEO of Virginia Credit Union. He’ll succeed VACU’s longtime leader Jane Watkins, who announced last summer she’d retire March 31 of this year. Shockley, who grew up in… Read more »

Even though local bank Xenith is the smaller of the two parties in an acquisition deal announced this week, both sides say its an even deal uncommon in the current market that will give a big boost to both.

Richmond-based Xenith Bank will combine with Bank of Hampton Roads in a deal valued at $107 million, continuing a stream of consolidation among the state’s community banks.

A Petersburg-based bank is planning to fill the former First Community Bank branch at 900 N. Parham Road, replacing its longtime branch at a nearby shopping center.

With a veteran in the local industry on board, a national nonbank mortgage lender is making a big push into the Richmond market with plans for two area offices.

One of the largest local banks is closing three of its Martin’s grocery store branches and opening a standalone location in Northern Virginia.