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banking

Feb 1, 2021

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 […]

Jan 26, 2021

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 […]

Nonprofits | Philanthropy
Jan 25, 2021

Va. Community Capital president, CEO to retire this year

Richmond-based nonprofit Virginia Community Capital (VCC) announced last week that President and CEO Jane Henderson will retire this year after four decades in the banking industry.  Henderson has led VCC, a community development financial institution, since its 2006 inception. She has spent 29 years in community development finance. VCC has not yet released a specific […]

Jan 21, 2021

Shareholders approve Blue Ridge, Bay Banks merger

Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]

Jan 20, 2021

New Hampton Roads bank raises $20M

Integrity Bank for Business, a new bank forming in Virginia Beach, has received signed subscription agreements for stock purchases totaling $20.285 million, it announced Tuesday. By Jan. 15, Integrity had received subscription agreements of $19.935 million by the closing date of the first phase of its stock offering; additional agreements of $350,000 were pending on […]

Jan 19, 2021

Former executive sues New Peoples Bank for discrimination

Mary Trigiani, a marketing consultant and native of Big Stone Gap, has sued Russell County-based New Peoples Bank for discrimination and wrongful termination. She was employed as senior vice president of strategic planning and development at the community bank from 2017 until 2019, when her position was eliminated. In a suit filed Jan. 1 with […]

Jan 15, 2021

Southern National Bancorp names EVP, CFO

Southern National Bancorp of Virginia Inc. and its McLean-based Sonabank subsidiary announced Monday that it has hired Matthew A. Switzer as executive vice president and chief financial officer. He succeeds Jeff Karafa, who will now serve as chief accounting officer. Switzer most recently served as managing director with Stephens Inc.  “His experience in our industry […]

Dec 30, 2020

Touchstone Bankshares names chief lending officer

Prince George-based Touchstone Bankshares Inc. has named C. Sean Link as its chief lending officer. Link has more than 10 years of senior executive banking experience with a focus on commercial banking, most recently as senior vice president of commercial banking at Truist in Richmond. Link also served as senior vice president of commercial banking […]

Dec 14, 2020

PPP loans could make comeback in time for holidays

Congress could pass a third round of the U.S. Small Business Administration’s Paycheck Protection Program funding just in time for the holidays.  A bipartisan group of U.S. senators on Monday introduced a $908 billion coronavirus relief bill, including an estimated $300 billion set aside for another round of PPP funding. In April, the first $349 […]

R. Scott Blackley. Photo courtesy Capital One
Dec 8, 2020

Capital One CFO to leave in March 2021

McLean-based Capital One Financial Corp. Chief Financial Officer R. Scott Blackley will step down in March 2021 to hold the same position with New York City-based health insurance startup Oscar Health Insurance Corp., the company announced last week. Capital One is the largest bank in Virginia, according to 2019 deposits. Senior vice president and business […]

Nov 5, 2020

Trustar Bank announces first acquisition

Great Falls-based Trustar Bank announced its first-ever acquisition Wednesday, taking control of Fairfax-based Granite Mortgage LLC.  The acquisition will add Granite Mortgage’s full-service mortgage business line to Trustar’s (founded in 2019) banking services. Granite Mortgage will become a wholly owned subsidiary of Trustar, the first bank to be chartered and opened in Virginia in [...]

Oct 1, 2020

Morgan Stanley expected to complete $13B E-Trade acquisition Friday

Morgan Stanley announced Thursday it has won regulatory approval and expects to complete its $13 billion acquisition of Arlington-based online brokerage E-Trade Financial Corp. on Friday.  In late July, E-Trade announced that more than 99% of its stockholders had approved the acquisition, which will be one of the largest acquisitions of a local company in […]

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