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Jessica Sabbath// October 24, 2014//
Shareholders of Newport News-based Virginia Company Bank have approved the acquisition of the company by Eastern Virginia Bankshares Inc., the parent company of Tappahannock-based EVB.
All regulatory approvals have been received, allowing the merger of Virginia Company Bank and EVB to proceed.
“We are very excited about the future prospects of our combined organization and the expanded branch network that VCB brings to the existing EVB organization,” Joe A. Shearin, the president and CEO of the parent company and EVB, said in a statement.
At the time the merger was announced in late May, the deal was valued at $9.6 million.
Virginia Company Bank has three branches, in Hampton, Newport News and Williamsburg.
EVB has 21 full-service branches in eastern Virginia.
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