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The Power 50
Jun 20, 2025

Atlantic Union to expand Henrico office, add 50 jobs

Atlantic Union Bank is investing $5.1 million to upgrade its corporate offices in Henrico County to accommodate growth, the bank announced this week.

USAA to expand in Chesapeake, add 500+ jobs
Jun 12, 2025

USAA to expand in Chesapeake, add 500+ jobs

USAA announced Thursday that it has purchased a larger office space in Chesapeake and that it will add more than 500 employees.

Atlantic Union CFO Rob Gorman has announced his retirement. Photo Courtesy Atlantic Union Bankshares
May 22, 2025

Atlantic Union CFO announces retirement

Richmond-based Atlantic Union Bankshares announced Thursday that executive vice president and chief financial officer Robert M. Gorman plans to retire on or before March 31, 2026.

Federal courthouse photo by AdobeStock
May 19, 2025

Capital One proposes $425M lawsuit settlement

On Friday, just before closing the $35.3 billion acquisition of Discover Financial Services, Capital One Financial came to settlement terms with customers who were suing the McLean bank. If the agreement is approved by a federal judge, Capital One will pay $425 million to plaintiffs.

Brad Cornelius, CEO of Farm Credit of the Virginias. Photo courtesy Farm Credit of the Virginias
May 1, 2025

Farm Credit of Virginias CEO to retire

Brad Cornelius will retire in late 2025 after leading Farm Credit of the Virginias for five years. He grew the cooperative's loan portfolio to $2.3B and 12,500 customer-owners.

John Asbury, president and CEO of Atlantic Union. Photo courtesy Atlantic Union
Apr 24, 2025

Atlantic Union: Q1 Earnings Snapshot

Atlantic Union Bankshares Corporation (AUB) reported first-quarter profit of $49.8 million.

Market prices displayed at the Nasdaq MarketSite, Monday, April 7, 2025, in New York. (AP Photo/Yuki Iwamura)
Apr 15, 2025

Nasdaq holds off delisting Primis Financial until May decision

Nasdaq will wait for the results of a May hearing before delisting McLean-based bank holding company Primis Financial, the company said Monday. Primis Bank announced last week that it had received notice from the stock exchange April 3 that the company was out of compliance with one of Nasdaq’s rules that requires listed companies to […]

National Bankshares CEO to retire
Apr 9, 2025

National Bankshares CEO to retire

Blacksburg-based National Bankshares announced that its chairman and CEO, F. Brad Denardo, will retire June 30 from his position as CEO of the community bank holding company and its banking subsidiary, The National Bank of Blacksburg, which does business as National Bank. Denardo will also retire from his position as chairman, president and CEO of […]

China raises its retaliatory tariff on the US to 84% as it vows to ‘fight to the end’
Apr 9, 2025

China raises its retaliatory tariff on the US to 84% as it vows to ‘fight to the end’

BANGKOK (AP) — China is boosting tariffs on American goods to 84% and vowed Wednesday to “fight to the end” in an escalating battle that threatens to disrupt trade between the world’s two largest economies. The new rate, which takes effect Thursday, comes in response to President Donald Trump’s move to raise the tariff on […]

A man wearing a blazer and tie. G. Lyn Hayth III. Photo courtesy Bank of Botetourt
Apr 4, 2025

Bank of Botetourt CEO retires after nearly four decades at bank

G. Lyn Hayth III will retire as CEO of the Buchanan-based Bank of Botetourt at the end of June after nearly four decades at the bank, according to a Wednesday announcement. Michelle R. Austin, the bank’s president and chief operating officer, will become CEO on July 1 and retain her role as president. After joining […]

Suffolk-based TowneBank plans to acquire Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus. Photo by AdobeStock
Apr 3, 2025

TowneBank to acquire Old Point in $203M deal

Suffolk-based TowneBank announced plans Thursday to acquire Old Point Financial, parent company of The Old Point National Bank of Phoebus, in a deal valued at $203 million. The merger, which is expected to enhance TowneBank’s position as the bank with the most market share in Hampton Roads, follows the April 1 completion of TowneBank’s $120 […]

Suffolk-based TowneBank plans to acquire Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus. Photo by AdobeStock
Apr 1, 2025

TowneBank finalizes $120M acquisition of Village Bank

Suffolk-based TowneBank has completed its acquisition of Midlothian’s Village Bank and its parent company Village Bank and Trust Financial, the bank announced Tuesday. When the companies announced the merger in September, they valued the deal at about $120 million. Village Bank shareholders gave  “overwhelming support” for the merger at a special meeting held in December […]

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