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$120M TowneBank-Village Bank acquisition approved by state, FDIC
Suffolk-based TowneBank’s $120 million acquisition of Midlothian’s Village Bank and Trust Financial Corp. has been approved by the FDIC and the Virginia State Corporation Commission, clearing the way for a completed deal in early April, the two banks said Tuesday. Announced in September 2024, the combined bank, which will still be known as TowneBank, will […]
$1.6B Atlantic Union purchase of Sandy Spring Bank clears main hurdles
The parent companies of Atlantic Union Bank and Sandy Spring Bank have cleared the last major hurdles to the Richmond bank’s $1.6 billion all-stock purchase of Sandy Spring, headquartered in Maryland. The shareholders of Atlantic Union Bankshares and stockholders of Sandy Spring Bancorp approved the merger, first announced in October 2024, in their separate special […]
Fed approves Atlantic Union-Sandy Spring bank acquisition
Richmond-based Atlantic Union Bank is one step closer to completing its $1.6 billion purchase of Maryland’s Sandy Spring Bank. The Federal Reserve Bank of Richmond, acting on delegated authority from the Board of Governors of the Federal Reserve System, has approved the merger, the parent companies of the two banks announced Tuesday. Atlantic Union and […]
Capital One, Discover clear hurdles for $35.3B megadeal
Announced in February, McLean-based Capital One Financial’s proposed $35.3 billion acquisition of Discover Financial Services is moving forward, with stockholders’ votes scheduled early next year, the credit card giants announced this week. Capital One also announced Thursday it received approval from the Office of the Delaware State Bank Commissioner on Wednesday to complete the purch[...]
Coldwell Banker Premier acquires Hampton Roads Coldwell affiliate
Winchester-based Coldwell Banker Premier has acquired Virginia Beach-based Coldwell Banker Now, merging into a brokerage with a combined $600 million sales volume in 2023. Coldwell Banker Premier did not disclose financial details of the merger, which it announced Monday. The combined real estate company is the second-fastest growing Coldwell Banker franchise in the nation over […]
Atlantic Union to buy Maryland’s Sandy Spring Bank for $1.6B
Atlantic Union Bank is expanding further into Northern Virginia and Maryland with the $1.6 billion purchase of Maryland’s Sandy Spring Bank, an acquisition announced Monday. The two banks’ parent companies, Atlantic Union Bankshares and Sandy Spring Bancorp, have entered into a merger agreement that would create a combined bank with $39.2 billion in assets as […]
TowneBank to acquire Village Bank for $120M
Suffolk-based TowneBank has signed a definitive agreement to acquire Midlothian’s Village Bank and its parent company, Village Bank and Trust Financial, a deal worth approximately $120 million, the banks announced Tuesday. “Our TowneBank family is humbled and excited to partner with Village Bank and its team members,” TowneBank Executive Chairman G. Robert Aston Jr. said […]
VACU names Member One regional head for Roanoke, Lynchburg
Tim Rowe will be president of Virginia Credit Union division Member One’s markets in the Roanoke and New River valleys and Lynchburg, as the former Roanoke credit union integrates with VACU. Member One Federal Credit Union and VACU finalized their merger Aug. 1, creating a combined institution with 500,000 members and $7 billion in assets, […]
CACI strikes $1.27B deal to buy RF electronics provider
CACI International has entered into a $1.275 billion definitive agreement to acquire Azure Summit Technology, the Reston-based Fortune 1000 government contractor announced Monday. Based in Fairfax and founded in 2007, Azure Summit develops high-performance radio frequency (RF) hardware and software for the U.S. Department of Defense. Pending regulatory approval, the all-cash deal is expected to [...]
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 […]
Mars to purchase Cheez-It, Pop-Tarts maker in $35.9B deal
Updated Aug. 16 McLean-based snack and pet care giant Mars announced Wednesday it has entered into a $35.9 billion, all-cash deal to purchase Kellanova, the maker of Cheez-It, Pop-Tarts, Pringles, Eggo and other food brands. Kellanova, created in October 2023 when Kellogg split into two companies, had 2023 net sales of more than $13 billion, […]
CGI Federal to acquire Vienna government contractor
CGI Federal, the U.S. arm of Montreal-based IT and professional services consultancy CGI, announced this week it plans to acquire Aeyon, a Vienna-based federal IT consulting firm. The purchase, for which terms were not disclosed, is expected to close by the end of September. With 725 employees, Aeyon has been owned by Enlightenment Capital, a […]
