One of the biggest banks in the state has been quietly increasing its presence in Richmond and has plans for taking market share.
The company that owns a majority of the 1,300-acre Roseland development in Chesterfield filed for Chapter 11 bankruptcy protection Friday.
Xenith will close Paragon’s Henrico office and is still working out which staff will come onboard.
The first quarter financials are in, and Richmond’s local banks are slowly regaining their health.
Already battered and under pressure from regulators to raise capital or find a buyer, Virginia Business Bank continued to struggle in the first three months of the year.
M&T Bank is on the move again, this time with a big buyout in Delaware and a plan to pay off more than $700 million in TARP funds.
Written agreements lay out steps banks must take to improve their financial situations. In the case of Essex and CBTC, improvements were aimed at getting a handle on all its problem loans and doing a better job of vetting potential borrowers and identifying potential problem loans in the future.
Premier Bank has finally arrived in Richmond. And now Darius Johnson has to think twice when he answers the phone.
Wells Fargo is starting the process of rebranding local Wachovia branches.
The Midlothian-based bank isn’t wasting any time in trimming a bit of fat.