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.
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Local credit union may need a life line
Richmond is home to two of the lowest rated financial institutions in the state, according to bank and credit union ratings released last week. But of the 18 community banks headquartered in the Richmond area, four had 5-star superior ratings.
Local bank’s holding company gets infusion
With its capital base still eroding from massive levels of loan losses, the Norfolk-based parent company of Gateway Bank said today it has entered into agreements with institutional investors who will infuse it with sorely needed capital.
Monday Q&A: ‘We’re overwhelmed with prospects’
Community Bank Investors of America, better known as CBIA, is a private equity fund founded in 2007 by two locals to identify struggling, undervalued community banks, take an equity position in them and, in some cases, take over leadership of the bank. This week RBS chats with one of the founders about the challenges of that sort of work these days.
NewsFeed 5.7.10
Company aims to add 240 jobs in Pulaski County (Roanoke Times) A South American food-packaging manufacturer said Thursday it will hire 240 employees and establish its U.S. headquarters in a Pulaski County industrial park, where production of coffee containers and yogurt cups could begin as soon as September. ODU launches Business Gateway (Virginian-Pilot) The university… Read more »
The Herd: Departures, hires and promotions for 4.21.10
Tons of hires this week and a departure from a local bank with the unusual title of “chief strategic officer.” Plus hires in law, investment banking, advocacy and a new head of marketing at a car insurance startup.
Time for Europe
The struggling tourism industry might be rough on airlines and hoteliers, but it means phenomenal bargains for travelphiles. In a seasonal feature RBS has been running regularly, Martha Steger shares some of her favorite European destinations.
Business Licenses for 3.11.10
Best names this week: Allgood Renovations and In a Flash Roadside Assistance.
Commercial brokerage disbanding
Seven GVA Advantis brokers left the troubled firm last week and are starting an affiliate of a new firm. Leading the pack is Charles Polk, who was GVA’s all-time top-producing broker.
NewsFeeds 7.16.09
Hampton Roads Bankshares names new CEO (Virginian-Pilot) The Norfolk-based parent of Bank of Hampton Roads, Gateway Bank and Shore Bank said it tapped John A.B. “Andy” Davies, who headed Virginia Beach Savings Bank in the 1990s. Davies later became president of the Virginia market of Rocky Mount, N.C.-based Centura Bank before departing in 2004 to… Read more »