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Village Bank

Suffolk-based TowneBank plans to acquire Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus. Photo by AdobeStock
Apr 1, 2025

TowneBank finalizes $120M acquisition of Village Bank

Suffolk-based TowneBank has completed its acquisition of Midlothian‘s Village Bank and its parent company Village Bank and Trust Financial, the bank announced Tuesday. When the companies announced the merger in September, they valued the deal at about $120 million. Village Bank shareholders gave  “overwhelming support” for the merger at a special meeting held in December […]

Suffolk-based TowneBank plans to acquire Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus. Photo by AdobeStock
Mar 11, 2025

$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 […]

Aston
Sep 24, 2024

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 […]

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