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Hampton Roads bank receives regulatory approval
Integrity Bank for Business, a new bank forming in Virginia Beach, has received all necessary regulatory approvals to open for business as a bank, it announced Wednesday. The approvals obtained include: the issuance of a Virginia state bank charter from the Virginia State Corporation Commission and the Virginia Bureau of Financial Institutions; deposit insurance from […]
The Brink’s Co. purchases largest private ATM services provider for $213M
Henrico County-based The Brink’s Co. has purchased PAI Inc., the largest privately held ATM services provider in the nation, for $213 million, the company announced Tuesday. The closing date was April 1, and the acquisition was financed using available cash and Brink’s existing credit facility, according to a news release. Brink’s, which offers secure cash […]
Blue Ridge Bank hires first chief development officer
Steve Farbstein has left his position at Cornerstone RPO to become Blue Ridge Bank’s first chief development officer, the bank recently announced. Farbstein will be responsible for marketing, employee development and growing and maintaining lines of revenue at the bank, a subsidiary of Charlottesville-based Blue Ridge Bankshares Inc. — which completed a merger in February with […]
Virginia National Bank finalizes merger with Fauquier Bank
The parent company of Virginia National Bank announced the completion of its merger with Fauquier Bankshares Inc. today, creating a combined bank with $1.7 billion in assets and $1.5 billion in deposits as of Dec. 31, 2020. The merger, announced in October, brings together Charlottesville-based Virginia National Bankshares Corp. and the Warrenton-based parent company of […]
KeyBank parent company to buy McLean data firm
Cleveland, Ohio-based financial services company KeyCorp announced Tuesday it will acquire McLean-based AQN Strategies LLC, a data and analytics firm focused on financial services established by Ben Sabloff and Nigel Morris, co-founder of Capital One and fintech venture capital firm QED Investors. Financial terms of the transaction were not disclosed. Sabloff will serve as KeyCorp’s […]
Capital One taps new board members from Facebook, Nike
McLean-based Capital One Financial Corp. announced Tuesday the addition of two new members to its board of directors: Ime Archibong, head of new product experimentation at Facebook Inc., and Craig Williams, president of Jordan Brand at Nike Inc. Archibong and Williams have been appointed to fill two new seats on the board, and will stand […]
Martinsville credit union names chief information officer
Martinsville-based ValleyStar Credit Union announced Thursday it has hired Cheri Spence as its first chief information officer. Spence joined the ValleyStar board of directors in 2019 as the result of a merger with Entrust Financial Credit Union, where she served as chairwoman. She most recently served as vice president and CIO of Richmond-based nonprofit ChildFund. […]
First Bank to acquire The Bank of Fincastle
Strasburg-based First National Corp. (the bank holding company of First Bank) announced Thursday it will acquire The Bank of Fincastle. Financial terms of the transaction were not released, but the combined bank is expected to have approximately $1.2 billion in assets, $868 million in loans, $1 billion in deposits and 20 branch offices across Virginia. […]
Va. bank is first to allow customers to buy, redeem bitcoin at ATMs
With cryptocurrency use on the rise, customers of Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, will now be able to purchase and redeem bitcoin at its ATMs, making them the nation’s first commercial bank to do so, the company announced Wednesday. Blue Ridge Bank cardholders can purchase and redeem bitcoin […]
Wells Fargo to lay off 320 Henrico County employees
The investment management and financial brokerage business unit of Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, will lay off 320 employees from its Henrico County office. The wealth and investment management jobs are moving to some of the bank’s larger locations, Wells Fargo Advisors spokesperson Shea Leordeanu said in a statement. Wells […]
Blue Ridge Bank, Bay Banks complete merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]
Freedom Bank, NVTC to seed $50K revolving loan fund for minority entrepreneurs
The Northern Virginia Technology Council (NVTC) and Fairfax-based Freedom Bank of Virginia announced Tuesday a $50,000 revolving loan fund for Northern Virginia entrepreneurs of color who have been affected by the pandemic. NVTC and Freedom Bank of Virginia will seed the NOVA Technology Loan Fund, a gap financing program to be administered by the Springfield-based […]
