Banking

In the competitive Northern Virginia market, a local bank is expanding into its first full-fledged branch in Fairfax and is eyeing further expansion in the area and in Richmond.

The new-to-town bank is planning to close one of the branches it inherited during its arrival in Richmond, and it has its eye on a spot in a new development across from Willow Lawn.

A North Carolina bank finalized its acquisition of a local institution right at the start of 2016, creating a $3.1 billion company with a new branch in the works in Hanover.

TowneBank started 2015 off with a banking bang and continued to make headlines with its local expansion. Other out-of-town banks also planted their flags in the market and local institutions continued to improve.

A $220 million deal to acquire a Chesapeake competitor will nearly double the size of TowneBank’s local lending force and will also fill out its ranks with some new executives.

Awaiting approval to be acquired by a North Carolina company, a local bank is continuing expand, finally developing a property it has owned for years in Hanover County.

Just a month after opening a new branch in Chesterfield, a quickly expanding credit union is working on its next location and scouting out more space on Midlothian Turnpike.

The new CEO of Lumber Liquidators took up his post Monday, and he’s leaving his banking career behind with a lucrative new contract and consulting gig.

The bank chief whose company is approaching a big merger is abandoning a consulting gig to become CEO of Lumber Liquidators, a flooring company in the throes of a scandal.

Weighing the possibility of another full branch, a Northern Neck bank is setting up another loan office in Chesterfield County.