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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[...]
Congratulations to the 2021 Virginia CFO Awards winners!
Congratulations to the winners of the 2021 Virginia CFO Awards, honoring the commonwealth’s top nonprofit and companies’ chief financial executives, announced Friday by Virginia Business Editor and Chief Content Officer Richard Foster. Watch the video below for this year’s nominees, finalists and winners in four categories: Small companies (fewer than 100 employees) Large companies (more […][...]
BDO USA names Hampton Roads market leader
Accounting firm BDO USA LLP announced Thursday that Edward Amorosso has been named market leader for the company’s Hampton Roads market, a promotion from his previous position as the Norfolk office’s managing partner and national co-industry leader in government contracting. Before joining BDO, Amorosso served as CEO[...]
W.Va.-based United Bankshares to acquire Essex Bank for $303M
Henrico County-based Community Bankers Trust Corp., the parent company of Essex Bank, has entered into a $303.3 million deal to be acquired by Charleston, West Virginia-based United Bankshares Inc., United Bank’s parent. After the companies announced the agreement Thursday, Community Bankers Trust’s stock rose 29.78% as of mid-afternoon to $11.94 per share and United Bankshares’ […][...]
Harbor Group International closes $558M loan obligation
Norfolk-based real estate investment and management firm Harbor Group International LLC has closed a $558 million commercial real estate collateralized loan obligation (CRE CLO), the company announced Wednesday. The deal, HGI 2021-FL1, is the firm’s first CRE CLO, which is a security backed by commercial real estate loans. HGI’s CRE CLO consists exclusively of bridge […]
Virginia Credit Union League names new president
The Virginia Credit Union League has named Carrie Hunt as its next president, effective June 1 , the state trade association for not-for-profit, member-owned credit unions announced Thursday. Hunt replaces the league’s longtime leader, Richard Pillow, who will retire in June after 40 years with the association. Currently, [...]
