Sign In
Free Newsletter
Wells Fargo to lay off 320 Henrico County employees
The investment management and financial brokerage business unit of Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, will lay off 320 employees from its Henrico County office. The wealth and investment management jobs are moving to some of the bank’s larger locations, Wells Fargo Advisors spokesperson Shea Leordeanu said in a statement. Wells […]
Blue Ridge Bank, Bay Banks complete merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]
A taxing year
After a turbulent business year, accountants are bracing for a tax season filled with increased uncertainty, complexity and the looming reality that, eventually, 2020 taxes will be due and books must be reconciled. Businesses navigating the pandemic — from entrepreneurs launching their first ventures to corporations with expe[...]
Va. Community Capital president, CEO to retire this year
Richmond-based nonprofit Virginia Community Capital (VCC) announced last week that President and CEO Jane Henderson will retire this year after four decades in the banking industry. Henderson has led VCC, a community development financial institution, since its 2006 inception. She has spent 29 years in community development fi[...]
Shareholders approve Blue Ridge, Bay Banks merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]
New Hampton Roads bank raises $20M
Integrity Bank for Business, a new bank forming in Virginia Beach, has received signed subscription agreements for stock purchases totaling $20.285 million, it announced Tuesday. By Jan. 15, Integrity had received subscription agreements of $19.935 million by the closing date of the first phase of its stock offering; additional agreements of $350,000 were pending on […]
Former executive sues New Peoples Bank for discrimination
Mary Trigiani, a marketing consultant and native of Big Stone Gap, has sued Russell County-based New Peoples Bank for discrimination and wrongful termination. She was employed as senior vice president of strategic planning and development at the community bank from 2017 until 2019, when her position was eliminated. In a suit filed Jan. 1 with […]
Applications open Jan. 19 for new PPP round
The relief loan floodgates will reopen Tuesday, as the U.S. Small Business Administration opens the latest $284.5 billion round of Paycheck Protection Program (PPP) funding available. This time, borrowers who received allocations during the initial rounds of PPP funding in 2020 can reapply under Second Draw PPP Loan applications. First Draw PPP Loans are for […]
Richmond Heritage Federal Credit Union names chairman
The Richmond Heritage Federal Credit Union announced Friday it elected Antione M. Green as its next chairman on Dec. 29, 2020. Green joined the board in 2018. He is the co-founder of the Patrick Henry School of Science and Arts, where he also served as CEO. He also serves as board president of the Richmond […]
Southern National Bancorp names EVP, CFO
Southern National Bancorp of Virginia Inc. and its McLean-based Sonabank subsidiary announced Monday that it has hired Matthew A. Switzer as executive vice president and chief financial officer. He succeeds Jeff Karafa, who will now serve as chief accounting officer. Switzer most recently served as managing director with Stephens Inc. “His experience in our industry […]
PBMares names new CEO
Newport News-based accounting and consulting firm PBMares LLP announced Tuesday that Harvey L. Johnson has been promoted as CEO, effective Jan. 1. Johnson, a partner and cybersecurity and control risk services practice leader, will serve as the company’s second CEO in the firm’s 58-year history. He succeeds Alan S. Witt, who[...]
Touchstone Bankshares names chief lending officer
Prince George-based Touchstone Bankshares Inc. has named C. Sean Link as its chief lending officer. Link has more than 10 years of senior executive banking experience with a focus on commercial banking, most recently as senior vice president of commercial banking at Truist in Richmond. Link also served as senior vice president of commercial banking […]
