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Credit unions in Virginia would like to grow their membership, but a rule change relaxing the state’s policy is not in the cards this spring. This year’s short General Assembly session — in an election year with a split legislature — makes it harder to pass bills with any controversial elements, and any major expansion […]
Tax cuts are the way to grow
Virginia’s finances are in excellent shape, paving the way for the General Assembly to agree with Gov. Glenn Youngkin that it’s time to cut taxes in the commonwealth. It’s your money, not the government’s, and the government has collected too much of it over the last few years. In a snapshot, Virginia’s coffers are full. […]
TowneBank completes Farmers Bank acquisition
Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southampton counties to TowneBank’s service area, as well […]
GMU names EVP for finance and admin
George Mason University has promoted Deb Dickenson to executive vice president for finance and administration, the university announced Monday. Dickenson had been serving as interim senior vice president for administration and finance since June. In her new role, she will be responsible for universitywide leadership, strategic oversight and financial and operational management of the administrativ[...]
Stihl names finance VP
Virginia Beach-based chainsaw and outdoor power equipment manufacturer Stihl Inc. has named Uwe Hirsch its vice president of finance, effective Nov. 7. Hirsch will plan, direct and control the company’s financial plans and will support IT operations and system implementations. He was most recently global vice president of finance, controlling and purchasing in the automotive […]
TowneBank names president, regional banking director
TowneBank has promoted Brian Skinner to the newly created role of president and regional banking director for all of its markets in Virginia and northeastern North Carolina, the Suffolk-based bank announced this week. “Brian is a dedicated member of the Towne family with a proven track record of leading both emerging and seasoned financial professionals […]
Keeping watch
The question of the quarter: Are we entering a recession? One key indicator of a future recession can be inflation, which hit a 40-year high this year. Between June 2021 and June 2022, the consumer price index increased by 9.1%, according to the U.S. Bureau of Labor Statistics. One of the first tangible signs for […]
Money matters
For the most part, the most prominent banking institutions in Hampton Roads stayed the same in fiscal year 2021, with Suffolk-based TowneBank holding the top market share of 27.49% (up nearly 2% from the Federal Deposit Insurance Corp.’s June 30, 2020, report) and second-place holders Truist and Wells Fargo banks with just below 20% each. […]
Chesterfield-based Paymerang expands to Wise County
Chesterfield County-based payment and invoice automation company Paymerang LLC will expand its operations to Southwest Virginia, creating 50 jobs in Wise, the company announced Thursday. The move follows a previous expansion of its Chesterfield County headquarters. In Wise, employees will work in software development, cloud engineering and payment operations. Paymerang is the second company to jo[...]
PRA Group promotes exec to chief HR officer
Norfolk-based international debt acquisition company PRA Group Inc. has promoted executive LaTisha Tarrant to chief human resources officer. Tarrant will start her new role Aug. 15. She currently serves as senior vice president, deputy general counsel and corporate secretary for the global financial services company. She has worked for PRA Group since 2016. “Talent recruitment, […]
PRA Group hires communications exec
Norfolk-based PRA Group, a $1.1 billion debt-purchasing company, has hired Giovanna Genard as vice president of external affairs and marketing leader. Genard will develop and oversee PRA Group’s global external communications, public relations and brand strategy. Before joining PRA Group, Genard served as Old Dominion University’s assistant vice president for public relations and strat[...]
Virginia Business announces 2022 Va. CFO Awards winners
Virginia Business presented awards to chief financial officers at companies and nonprofits around the commonwealth Thursday night. This year’s Virginia CFO Awards banquet — which is the largest annual gathering of CFOs in Virginia — was held at The Jefferson Hotel in Richmond. Fifty-one CFOs from around the commonwealth were nominated in four award categories, […]
