HR Bankshares closes deal, adds $235 million of capital (Virginian-Pilot) Hampton Roads Bankshares Inc. announced Thursday that it closed on $235 million of its planned $255 million private placement with institutional investors. The sale raises critical capital for the Norfolk-based parent of Bank of Hampton Roads and Shore Bank. Bank of Hampton Roads, which absorbed… Read more »
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Loan troubles swamp veteran developer
Hank Wilton, a long-time Richmond developer with a family history in the business, has declared personal bankruptcy. Plus, BizSense has the filing for readers who need to know who is owed money.
The Docket: Circuit Court Roundup for 8.30.10
A jammed packed Docket this week: A Chesterfield construction business alleges an employee spent $40,000 of its money on personal expenses, while several landlords are suing tenants for unpaid rent. Plus, a woman is suing the zoo in Chesterfield after she slipped while watching the giraffes.
The Docket: Circuit Court Roundup for 8.16.10
A bank wants money it said it’s owed by a construction company, while a landlord wants payment from a Carytown merchant. plus several slip-and-fall lawsuits and an advertising company tries to seek money it says its owed.
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.
French saga takes new twist
An embattled developer’s plan to wrest control from an investor might not be working quite as planned.
Taking the temperature of a local equity firm
A struggling Florida bank run by two Richmond entities is being sued by a local investor for alleged fraud. The suit provides a glimpse into the overall health of a local private equity fund that invests in community banks.
BofVa shareholders to vote today on Cordia deal
The future direction of a local bank could be decided today at a Holiday Inn.
NewsFeeds 7.5.10
Hampton Roads Bankshares lines up $255M in new capital (Virginian-Pilot) Hampton Roads Bankshares Inc. said Thursday that it lined up investors for an additional $110 million of capital as part of a plan for shoring up its crippled balance sheet. The Norfolk-based parent of Bank of Hampton Roads, Shore Bank and Gateway Bank & Trust… Read more »
‘Strategic’ default?
One of the most active developers in the City of Richmond is letting some of his property go into foreclosure so that he can expel an investor and renegotiate his loans with his bank. That investor happens to be one of the biggest companies in Richmond.