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Capital One-Discover deal faces federal scrutiny
McLean-based Capital One Financial announced plans in February to buy Discover Financial Services for $35.3 billion in an all-stock deal that would mark Capital One’s largest ever acquisition and make it the nation’s biggest credit card lender. The transaction is expected to close in late 2024 or early 2025, according to the banks. At close, […]
Atlantic Union names new Hampton Roads president
Richmond-based Atlantic Union Bank has named Lisa Morgan its new Hampton Roads market president, the Richmond-based bank announced Monday. Morgan will also continue to hold the role of wealth relationship director with the bank’s wealth consulting group, a position she has held since she joined Atlantic Union Bank in 2021. Morgan will be the first […]
Ridge View Bank hires new SVP for New River Valley
Ridge View Bank has hired Todd Murray as senior vice president of commercial banking in the New River Valley, the Roanoke-based bank announced Wednesday. Murray will lead an expansion of bank’s commercial banking services in the New River Valley and will be responsible for loan and deposit production, collaborating with the bank’s treasury, private banking […]
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 […]
Benchmark Community Bank, parent announce next CEO
Kenbridge-based holding company Benchmark Bankshares and its bank, Benchmark Community Bank, will have a new leader at the start of the new year. Jay A. Stafford, president and CEO of the holding company and CEO of Benchmark Community Bank, will retire Dec. 31. He will also retire from the bank’s and company’s boards of directors, […]
Bank of America names new Hampton Roads president
Tyrone Noel has been named president of the Hampton Roads region for Bank of America, the bank announced Thursday. As president, Noel will lead 500 employees and operations across the Hampton Roads market and be responsible for growing market share and driving integration across the bank’s eight business lines. He will also lead the bank’s […]
Wells Fargo to launch $87M expansion in Roanoke County
San Francisco-based Wells Fargo will spend $87 million to modernize and expand its Roanoke County customer support center, adding 1,100 jobs in a deal that will make the bank the county’s largest employer. The deal is also the largest project employment announcement in the county’s history, as well as its largest commercial office investment, Gov. […]
Building equity
When BB&T recruited Thomas Ransom, a Black economics student at Hampden-Sydney College, to join its management development program in the late 1990s, he quickly had to pick up the world of banking and its culture. The Urbanna native says he’d never met a banker before starting at BB&T and certainly didn’t know what moves to […]
TowneBank hires chief risk officer, senior EVP
Suffolk-based TowneBank appointed Ernest Piccioli as senior executive vice president and chief risk officer, the bank announced Monday. Piccioli is based at TowneBank’s headquarters. As chief risk officer, he will be responsible for governance of the company’s risk programs and oversee risk management, vendor management, credit review and appraisal services. “Having Ernest aboard as [...]
Blue Ridge Bank names CEO
G. William “Billy” Beale became CEO of Blue Ridge Bank National Association on Sunday, giving the bank a leader separate from that of its parent company, Charlottesville-based Blue Ridge Bankshares Inc. “I am excited to have the opportunity to join this team at a critical time in the banking industry,” Beale said in a statement. […]
Barkin: Raising interest rates is correct course
As inflation remains high and the fallout from recent bank failures seems contained, the Federal Reserve Bank has good reason to continue raising interest rates, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Thursday in a speech to the Virginia Council of CEOs at the University of Richmond. “It is worth remembering that not […]
Layne, Perry named to TowneBank corporate board
Suffolk-based TowneBank has named Aubrey L. Layne Jr., executive vice president of governance and external affairs for Sentara Healthcare, and Suburban Capital founder and CEO Christopher Perry to its corporate board of directors, the bank announced Tuesday. Layne, who chairs the Virginia Port Authority’s board of commissioners and formerly served as state secretary of finance […]
