But the ambitious plan requires the bank to raise $20 million and the lifting of a regulatory agreement. The bank seeks to pick up retail customers on the Eastern Shore.
Banking
Bank’s troubles haunt new owner
Why regulators won’t let a profitable, well-capitalized bank holding company throw its shareholders a bone.
Essex Bank offers few details of turnaround plan
Essex Bank says that it will not pay the U.S. Treasury its dividend for TARP funds this quarter and that it might close branches.
Body blow for PE fund
A Richmond-based private equity fund lost more than half its value when a Florida bank hit the skids. But the fund’s managers and at least one investor remain hopeful that other investments will more than recoup those losses.
Call FCU gets green light for expansion
A local credit union can now more easily expand its customer base.
‘We don’t have any distractions’
There is one very important figure that jumps off the pages of New Horizon Bank’s second quarter financial reports.
Local credit union reaches $2 billion in assets
An 82-year-old credit union reached and surpassed the $2 billion asset threshold during the second quarter and in the process became the third largest credit union in the state.
Bank deal now in hands of regulators
Bank of Virginia shareholders last week voted in favor of a deal that could bring the struggling bank fresh capital and some new leadership.
C-ville bank increases local presence
More competition for local banks could be on its way from Charlottesville.
Fulton Bank repays TARP, M&T triples its profits
Two large out of state banks with a presence in the Richmond market made big announcements this week.