A Midlothian-based bank badly in need of capital is still waiting on the deal to clear a regulatory hurdle.
Banking
Capital One job shuffle is hard on the Big Easy
Richmond rejoiced upon hearing that Capital One would bring 700 jobs to a consolidated operations center in Innsbrook. The company also announced it would add 300 jobs throughout the state by the end of 2011. The city of New Orleans isn’t so lucky. The McLean-based bank has notified 100 workers at an office there that… Read more »
Essex Bank to enter regulatory agreement next year
A local bank said last week that it expects to enter a written agreement and turnaround plan with state and federal regulators.
Bank’s move could be mutually beneficial
One of the region’s largest local banks is looking to go public.
Local bank’s parent not allowed to pay TARP dividend
The troubles at a local bank are preventing its parent company from paying its TARP dividend.
More dough, but a smaller piece of the pie
An FDIC report shows that many locally based banks saw their local deposit base increase in the past year but watched their share of the total market decrease thanks to Bank of America’s growth.
Va. Business Bank starts on Plan C
After announcing its intentions last month to raise $20 million in capital and undergo a fundamental shift in strategy, a troubled bank says it is now considering other options. And the future of its head is in question.
Will banks take a second bite from government’s carrot?
The success of the so-called Small Business Lending Fund hinges on two main factors: whether there is enough demand for small business loans from qualified borrowers to warrant banks’ participation and whether community banks still have a bad taste in their mouths from the last time they took money from the government.
Central Virginia Bank postpones fundraising effort
The Powhatan-based announces that it has postponed efforts to raise up to $15 million on the advice of its investment bankers.
What happened to severance pay?
After paying bonuses to management even as the bank hemorrhaged millions in 2009, a Glenn-Allen based bank is now cutting two managers and paying them no severance package.