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consolidation

Flags fly in front of a multi-story building with a glass facade.
Jan 17, 2025

Press Glass shifts N.C. operations to Henry County

Press Glass, a fabricator of flat glass for the commercial construction industry, is shuttering its Stoneville, North Carolina, operation and moving toward fabricating and delivering all products from its operation in Ridgeway, where the company has produced glass since 2020. Of 178 workers at the North Carolina plant, 110 are transferring to Press Glass‘ Virginia […]

Sep 3, 2024

VACUL announces intent to merge with regional group

The Virginia Credit Union League has signed a letter of intent to consolidate with the League of Southeastern Credit Unions & Affiliates, the trade organization representing credit unions in Alabama, Florida and Georgia. Virginia credit unions will decide this fall whether to merge VACUL’s associations, foundations and service corporations with those of the LSCU, with […]

“It’s very difficult to find a $1 billion bank” in the Richmond region, says Rex L. Smith III, president and CEO of Henrico County-based Community Bankers Trust Corp., which is being acquired by West Virginia-based United Bankshares Inc. “They’ve either been gobbled up or they don’t exist.” Photo by Shandell Taylor
Jul 30, 2021

Come together

Virginia is seeing a wave of bank mergers and acquisitions, a trend that could intensify, banking experts say. “We could potentially see a record-setting year for bank mergers and acquisitions,” says John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares Corp. and chairman of the Virginia Bankers Association. Banks are reaching for scale, meaning […]

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