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U.S. Senate Federal Credit Union opens new Alexandria HQ
United States Senate Federal Credit Union (USSFCU) held a grand opening for its Braddock Station corporate headquarters and retail branch in Alexandria on Wednesday. USSFCU selected 1310 Braddock Place, previously home to the National Industries for the Blind, in 2018. The new Bowman Branch on the first floor replaces the credit[...]
Leaders of the pack
Although TowneBank remains at the top of the Hampton Roads’ region banking market, with just over a quarter of local market share, there is a newcomer in the second position: North Carolina-based Truist Bank, created from the SunTrust-BB&T megamerger in 2019. Truist holds nearly 24% of the market and has 72 locations, taking Wells Fargo’s […]
Primis Bank selling minority interest back to Southern Trust Mortgage
Glen Allen-based Primis Bank, a wholly-owned subsidiary of McLean-based Primis Financial Corp., entered into an agreement to sell its minority interest back to Virginia Beach-based Southern Trust Mortgage LLC (STM), it announced Thursday. Primis Financial Corp. expects to record a pre-tax charge of about $2.9 million in the third quarter. STM will repurchase all of […]
Va. Community Capital names new president and CEO
Richmond-based nonprofit Virginia Community Capital (VCC) has hired Amir Kirkwood as its president and CEO, following founding executive director Jane Henderson’s January announcement of her retirement. He will assume the role on Nov. 1. “I am excited about Amir’s choice to join our organization,” Henderson said in a[...]
U.Va. Credit Union president and CEO to retire
Alison DeTuncq, who has served 22 years as president and CEO of the University of Virginia Community Credit Union in Charlottesville, plans to retire in May 2022, the institution announced this week. She started her career at the credit union 32 years ago, and during her tenure as its leader, the credit union’s assets grew[...]
Old Point Trust names new president and CEO
Hampton-based Old Point Trust & Financial Services has a new president and CEO, its parent company announced Thursday. A. Eric Kauders Jr., who led Bank of America’s $16 billion fiduciary business in three states, started his new job this week, succeeding Eugene M. Jordan II, now Old Point Financial Corp.’s gener[...]
ValleyStar Credit Union names new CEO
Martinsville-based ValleyStar Credit Union hired Mike Warrell as CEO, it announced Wednesday. “As ValleyStar strengthens relationships and builds upon its digital integration, Mike Warrell was the clear choice to move the credit union forward,” ValleyStar Chairman James Rorrer said in a statement. “He has the exper[...]
Bank of America names new Hampton Roads president
Francisco “Frank” Castellanos has been named the Hampton Roads region president for Bank of America, the bank announced Monday. Castellanos comes to Bank of America from Merill Lynch Wealth Management, where he was the market executive for greater Virginia and a market integration executive. He previously worked in B[...]
Jean Yokum, longtime president and CEO of Langley Federal Credit Union, dies at 90
Jean Yokum, the longtime president and CEO of Langley Federal Credit Union, died Thursday, the credit union announced. She was 90. She served as the president and CEO for 33 years, first joining the credit union as a teller in 1953 and working her way up. She served in the top spot from 1979 until 2012, […]
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 Associat[...]
Old Point National Bank appoints VP operations
Hampton-based Old Point National Bank has appointed Christopher Hobbs as its vice president of operations, the bank announced Wednesday. “We are so pleased to have Chris Hobbs join the Old Point family,” said Susan R. Ralston, executive vice president and chief operating officer for Old Point, in a statement. “[...]
TowneBank acquires Tennessee cabin rental company
Suffolk-based TowneBank acquired Tennessee-based vacation property rental company Venture Resorts Inc. on July 1, the bank announced Monday. Financial details of the transaction were not disclosed. “This is an exciting development for Towne Vacations,” Brian Skinner, president and CEO of Towne Financial Services Group, the d[...]
