In the midst of planning a stock offering to raise sorely needed capital, a local bank received notice from Nasdaq that the value of its shares has been too low for too long.
Banking
Third local bank signs agreement with regulators
The recession forces another bank into a turnaround agreement.
Bank closes a branch, readies capital campaign
As it works its way through a turnaround plan with regulators, a Richmond-based bank closes one of its two branches.
100-year-old banks brought under new Union brand
Those billboards that ask, “Is it so wrong to love a bank?” may expanding their reach even further in Virginia.
Bank gets green light to move forward with capital raise
Central Virginia Bankshares received shareholder approval last week to move forward to the next phase of raising $15 million in fresh capital.
Local bank looks to raise $15M
Central Virginia Bankshares said Friday that it wants to raise up to $15 million to replenish its depleted capital reserves. But the bank will likely not be making many new loans until it is in better financial shape, the company said in an SEC filing.
Another Va. bank enters survival mode
The troubled Norfolk-based successor of Bank of Richmond yesterday became the latest bank to enter into an agreement with federal and state regulators by which it must devise a turnaround plan.
First Capital Bank, what’s up your sleeve?
A local bank that tried last year to orchestrate a sizeable merger appears once again to be positioning itself for a transaction.
Bank president makes “tough decision” to retire
With his company having lost nearly $19 million in the last two years and regulatory examiners breathing down the company’s neck, the head of Central Virginia Bankshares announced his plans to retire by year’s end, the company said Friday.
Virginia Business Bank tries to break out of holding pattern
After almost eight months of operating under a strict regulatory turnaround/survival plan and having moved on to its third president since the fall, a Richmond-based bank has rethought its plan and might reinvent itself if it can secure a fresh round of capital.