Richmond’s biggest bank is paying $35 million to exit the federal Troubled Asset Relief Program, a move it hopes will boost its stock.
Banking
A payment pickle
Uncle Sam might be getting even more involved at one local bank.
VCB tries to force Roseland’s hand
As a massive stalled real estate project in Midlothian tries to work its way out of bankruptcy, one of the development’s lenders is eager for some cash.
Christmas comes early for credit unions
Masked revolutionaries didn’t show up last weekend at local credit unions, but plenty of money-toting customers did.
Village Bank to enter regulatory agreement
Hampered by high levels of souring loans, the $600 million Midlothian-based bank said this week that it expects to enter into a consent order with the FDIC. And the bank is looking to sell its 80,000-square-foot headquarters building and close one of its branches in January.
Downtown gets a fox den
Middleburg Bank opened its first local branch last week.
Chesapeake rings its bell in Richmond
The former head of Bank of Virginia is back in the game — this time at a Kilmarnock bank that just set up shop in Richmond.
Banking on a turnaround
The region’s largest stalled development has an ambitious plan to get out of bankruptcy and pay its creditors every cent owed.
Tiny financial institution seeks merger
A 40-year-old church-based credit union has asked for permission to be absorbed into Virginia Credit Union.
Banks shuffle local ranks
The FDIC’s annual market share report reveals that some national banks are losing ground in Richmond, and smaller local banks are scooping up that cash.