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Chesapeake Bank CFO appointed COO
Chesapeake Financial Shares Inc. has appointed its chief financial officer, Rebecca Andrick “Becky” Foster, to the additional post of chief operating officer, the Kilmarnock-based parent company of Chesapeake Bank and Chesapeake Wealth Management announced Monday. Foster, who has has been with the company for 27 year[...]
TowneBank president and COO retiring
TowneBank President and Chief Operating Officer Brad E. Schwartz will retire on Dec. 31, the Suffolk-based bank announced Wednesday. Schwartz will also step down as a director when his current term expires at the 2023 annual shareholder meeting. He will serve as a senior adviser through 2025 to assist with the transition. “Our[...]
Truist invests $7M in Virginia Community Capital
Virginia Community Capital received a $7 million investment from Truist Financial Corp. to support the organization’s Economic Equity Fund, a loan fund to expand access to capital and technical assistance for women- and minority-owned small businesses. VCC’s equity fund was launched in 2021 in response to the disprop[...]
Fed’s Barkin asks, ‘What’s ‘normal’ anymore?’
The question Tom Barkin is asked the most these days is when the economy will return to normal. The president and CEO of the Federal Reserve Bank of Richmond has a caution for those who may be wishing for the perceived stability of the pre-pandemic economy. “After two-and-a-half years of instability, we’re all ready [...]
Virginia Society of CPAs’ 2023 Economic Expectations Survey Results
Read VSCPA member interviews and more about the survey.
Virginia Society of CPAs’ 2023 Interviews
SOUTHWEST VIRGINIA Tara E. Adams, CPA Partner | Adams & Delp PC | Wytheville What are the benefits of living and working in Southwest Virginia? I love the mountain scenery, access to so many outdoor activities and most of all the sense of community you get in the smaller cities and towns. How is the […]
Belabored shortages
Faced with a shortage of drivers, Trevor Dunlap had to find a new way to recruit interested candidates for his Chesapeake-based trucking and warehousing companies, Givens Transportation Inc. and Givens Inc. “It’s very challenging to find qualified people and then be able to retain them,” he says, “and the wages we’re p[...]
Forvis names Fran Randall to governing board
Just weeks after promoting Fran Randall as its Richmond market leader, accounting firm Forvis has also appointed her to its governing board. The company, a new top 10 accounting firm formed by the merger this year of Charlotte, North Carolina-based Dixon Hughes Goodman LLP and Springfield, Missouri-based BKD CPAs & Advisor,[...]
Fifth District economy little changed since August, Fed says
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been largely unchanged since August, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige B[...]
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 seaso[...]
Forvis promotes exec to Richmond market leader
Forvis, the new top 10 accounting firm formed by the merger this year of Charlotte, North Carolina-based Dixon Hughes Goodman LLP and Springfield, Missouri-based BKD CPAs & Advisor, has promoted Fran Randall to Richmond market leader. Randall will represent the company in the Richmond business community and report to Tom Haz[...]
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 […]
