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UVA Community Credit Union has new president, CEO
UVA Community Credit Union has named Susan M. Gruber as its next president and CEO. Gruber previously served as executive vice president and chief financial officer of Dublin, California-based Patelco Credit Union since 2014, according to a news release. She has also worked as CFO and senior vice president at Jeanne D’Arc Credit Union in Lowell, […]
Judge dismisses Trigiani lawsuit against New Peoples Bank
A federal judge issued a summary judgment last week, dismissing all claims in former executive Mary Y. Trigiani’s lawsuit against Russell County-based New Peoples Bank for discrimination and wrongful termination. Trigiani’s complaints of a “cultlike office culture” did not hold up to judicial scrutiny, U.S. District Judge James P. Jones ruled. A Big Stone Gap […]
Ridge View banks on Roanoke region
Drawn by the Blue Ridge’s “blue-collar atmosphere,” a new bank has set up shop in the Roanoke region. Ridge View Bank, a division of Pennsylvania-based CNB Bank, opened for business in October 2021 and plans to be headquartered in the city of Roanoke next year. “We’re not ready to disclose the exact location yet,” says […]
Capital One inks $125M MLB sponsorship deal
Tysons-based Capital One Financial Corp. has signed a deal reportedly worth $125 million to become the official bank and credit card partner of Major League Baseball and the presenting sponsor of the World Series, Capital One and Major League Baseball announced Monday. CNBC reported the deal is worth $125 million over five years. The Fortune […]
Bank of America grants VUU $1M
Bank of America granted Virginia Union University $1 million for its new banking and financial services workforce development program, the university announced Monday. VUU’s Sydney Lewis School of Business will lead the program, called MORE for My Opportunity is Real Essential, in partnership with the university’s workforce development division and its Evelyn Reid Syphax School […]
MainStreet Bancshares president to retire
Charles “Chris” Brockett announced Friday that he’s retiring as president of MainStreet Bancshares Inc., parent company of Fairfax-based MainStreet Bank, effective March 31. Brockett has served as MainStreet Bancshares’ president since January 2017. He will remain a member of the board of directors. “We are pleased that Chris will continue to exercise strategic oversight and [...]
Stronger together
Bank acquisitions and mergers, particularly among Virginia’s community banks, continued apace in 2021. Banks sought scale for efficiency and flexibility, as well as to acquire resources in anticipation of potential new government regulation. “The recurring theme in bank mergers is scale,” Bruce Whitehurst, president and CEO of the Virginia Bankers Association, told Virginia Business in [&hel[...]
Blue Ridge Bank, FVCbank merger called off
The merger of the parent companies of Charlottesville-based Blue Ridge Bank and Fairfax-based FVCbank has been called off, the companies announced late Thursday. Blue Ridge Bankshares Inc. and FVC Bankcorp Inc. mutually agreed to terminate the agreement, which was first announced in July 2021. The companies delayed the merger, which would have created a $5 […]
Fifth District economy has moderate growth, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered […]
Former MUFG Americas head tapped as next Va. finance sec
Stephen Emery Cummings, who retired in March as the president and CEO of Mitsubishi UFJ Financial Group (MUFG) in the Americas, has been chosen as Virginia’s next secretary of finance, Gov.-elect Glenn Youngkin announced Wednesday. “Lowering taxes and restoring fiscal responsibility in Richmond is a primary focus of our Day One Game Plan, and Steve’s […]
U.Va. Credit Union president and CEO to retire
Alison DeTuncq, who has served 22 years as president and CEO of the University of Virginia Community Credit Union in Charlottesville, plans to retire in May 2022, the institution announced this week. She started her career at the credit union 32 years ago, and during her tenure as its leader, the credit union’s assets grew […]
Old Point Trust names new president and CEO
Hampton-based Old Point Trust & Financial Services has a new president and CEO, its parent company announced Thursday. A. Eric Kauders Jr., who led Bank of America’s $16 billion fiduciary business in three states, started his new job this week, succeeding Eugene M. Jordan II, now Old Point Financial Corp.’s general counsel and corporate secretary. […]
