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Atlantic Union acquisition of American National approved
Richmond-based Atlantic Union Bank‘s parent company announced Monday that the Federal Reserve’s Board of Governors has approved its acquisition of Danville-based American National Bankshares, holding company of American National Bank and Trust. The Fed’s signoff was the last regulatory approval needed for the merger — announced in July 2023 — to close on April 1, […]
CFBP fines Atlantic Union Bank for overdraft program
The Consumer Financial Protection Bureau fined Richmond-based Atlantic Union Bank on Thursday for illegally enrolling thousands of customers in checking account overdraft programs, according to a news release. The enrollments took place between 2017 and 2020, according to the bank. The bureau found that Atlantic Union, a subsidiary of Atlantic Union Bankshares, misled consumers who […]
Atlantic Union CEO tapped as American Bankers Assoc. chair-elect
Atlantic Union Bankshares CEO John C. Asbury is the 2023-2024 chair-elect for the American Bankers Association. ABA announced its new board officers and directors on Tuesday, following its annual convention in Nashville, Tennessee. Asbury was the ABA’s 2022-2023 vice chair. He’s a past chairman of the Virginia Bankers Association and the Mid-Size Bank Coalition of […]
Finance | Insurance 2023: JOHN C. ASBURY
Discovering an affinity for banking during a summer job while still in college, Asbury began his 30-year-plus career as a commercial credit officer at Wachovia Bank & Trust. He would serve in a variety of executive roles, including as president and CEO at New Mexico’s First National Bank of Santa Fe, before landing in his […]
September 2023 Top Five stories
The top five most-read daily news stories on VirginiaBusiness.com from July 15 to Aug. 15 included news about Buc-ee’s planning to build a mega-convenience store in Rockingham County in 2025. It would be the chain’s second Virginia store, following a New Kent County store also slated to open in 2025. 1 | Plans revealed for […]
Atlantic Union to acquire American National Bank
Updated 4:15 p.m. July 25 Richmond-based Atlantic Union Bank‘s parent company announced Tuesday that it has entered into an agreement to acquire American National Bankshares Inc., which is headquartered in Danville and is the holding company of American National Bank and Trust Co. The combined bank will have total assets of $23.7 billion as of […]
Former Henrico bank branch sells for $1.6M
A former Atlantic Union Bank branch in Henrico County has sold for $1.6 million. 8209 W Broad Street LLC, which is registered to an address in Chesterfield County, purchased the 3,579-square-foot former bank office on approximately .58 acres from Atlantic Union Bank. The property is located at 8209 W Broad St. Will McGoogan of Cushman […]
Atlantic Union Bank names CIO
Matt Linderman is Atlantic Union Bank‘s new chief information officer, the bank’s Richmond-based holding company, Atlantic Union Bankshares Corp., announced Friday. Linderman was previously the chief technology officer of PNC Financial Services Group Inc. Prior to that, he was PNC’s senior vice president of data center and cloud products. “Matt is an accomplished IT executive [[...]
Atlantic Union transferring stock listing to NYSE
Atlantic Union Bankshares Corp., the Richmond-based holding company for Atlantic Union Bank, announced Friday it is transferring the listing of its common stock and depositary shares from the Nasdaq to the New York Stock Exchange. The bank’s first day of trading on the NYSE is Jan. 18. “We are excited to join the NYSE alongside […]
Caroline County building sells for $3M
A 71,252-square-foot office building in Caroline County has sold for just over $3 million, Cushman & Wakefield | Thalhimer announced Sept. 5. The building, located at 24010 Partnership Blvd. in Ruther Glen, is on 47 acres. Atlantic Union Bank sold the building to Partnership Blvd Properties LLC. Will McGoogan of Cushman & Wakefield | Thalhimer […]
Future shock
As companies across Virginia continue to adjust to workplace changes created by the COVID-19 pandemic, many human resources managers say one thing is clear: The way people work has changed for good. “This is a new work environment — the workplace has changed now,” says Kirstin Shelton, vice president of human resources for Octo Consulting […]
Atlantic Union reopens corporate offices
John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares, has learned a lot about his employees during the pandemic. Chief among them: Many of them often don’t need to be in the office five days a week to get their work done. But he also knows that some in-office collaboration is key to the […]
