Banking

TowneBank turns eye to new Gumenick project

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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.

Banks ring in New Year with $87M merger

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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.

Year-end statement: Banking news of 2015

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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.

TowneBank deal boosts its local lending clout

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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.

Amid acquisition deal, bank plans new branch

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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.

Credit union planting another flag in Chester

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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.

Bank CEO taking on top spot at Lumber Liquidators

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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.

Trio of deals bolster bank’s insurance business

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After establishing its local banking presence through a major acquisition earlier this year, TowneBank is now building up its insurance operations and has bought out three smaller firms.