One of the larger newcomers to the Richmond banking market has made its biggest local splash to date with plans to acquire First Capital Bank in a deal valued at $82.5 million.
Banking
Union Bank president to retire
After 25 years with the bank, Union President John Neal is retiring at the end of the year, leaving the CEO to fill the position.
Another bank raises its flag on Patterson
Chesapeake Bank has joined the busy banking stretch of Patterson Avenue in a freshly remodeled branch that will serve as its local headquarters.
Bank reaches top rank in second quarter
As Richmond-area banks continue to rise in performance quarter to quarter, another local institution has joined the top of the pack.
Bank gets release from FDIC agreement
Six years after taking over the loan portfolio of a Maryland bank that shut down during the recession, a local institution has arranged a multimillion-dollar way out of an FDIC program that mitigates the risk of such a deal.
In commercial shift, bank to close two locations
As the local commercial lending market heats up, one bank is downsizing its retail operations to try to grab a bigger piece of the business banking scene.
Is Richmond ‘overbanked’?
A string of new banks making their Richmond entrances – often offering hard-to-resist financing terms and setting up branches in high-traffic areas – has some local bankers wondering about the sustainability of such a competitive field.
Credit union lobbyists build home downtown
An organization for the state’s credit unions has put about $4 million worth of work into connecting and renovating a string of buildings downtown to serve as a home base during lobbying season.
Bank exec switches teams
The former Richmond CEO of SunTrust is jumping back into bigger business after a few years with a smaller local bank, and her position is aimed at growing her new company’s presence in Virginia.
Bank moves for first local branch
A Rhode Island bank has applied to open its first branch in the local market – but the new location will be aimed at the company’s 600 local employees.