Rex Smith

Bank happily writes a big check

Essex HQ

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’s $221,000 milestone

Essex HQ

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.

Essex Bank enters agreement with regulators

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.

Local bank names new CEO

The former CEO of the now non-existent Bank of Richmond is back at the helm of a local community bank.

Bank CEO steps down, cuts coming

A Glen Allen-based bank said late Thursday its CEO stepped down effective immediately and that it is cutting 10 percent of its workforce.