
Essex Bank and its parent company received approval from regulators this week to make six TARP dividend payments after falling behind in 2010.
Essex Bank and its parent company received approval from regulators this week to make six TARP dividend payments after falling behind in 2010.
A local bank that owes the government more than $1 million finally got the green light to make its first TARP payment in more than a year.
Written agreements lay out steps banks must take to improve their financial situations. In the case of Essex and CBTC, improvements were aimed at getting a handle on all its problem loans and doing a better job of vetting potential borrowers and identifying potential problem loans in the future.
The former CEO of the now non-existent Bank of Richmond is back at the helm of a local community bank.
A Glen Allen-based bank said late Thursday its CEO stepped down effective immediately and that it is cutting 10 percent of its workforce.
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