Sign In
Free Newsletter
Brown Edwards acquires Mitchell Wiggins
Roanoke-based accounting firm Brown Edwards LLP acquired tax, audit and business consulting firm Mitchell Wiggins on Nov. 1. With offices in metro Richmond and the Petersburg/Tri-Cities areas, Mitchell Wiggins will bring six partners and 47 team members to Brown Edwards. Brown Edwards will have an office in the former Mitchell Wiggins space in Richmond, with […]
MicroStrategy bought $420M more bitcoin in Q3
MicroStrategy Inc. purchased nearly 9,000 additional bitcoins in the third quarter for almost $420 million, according to a quarterly report the Tysons-based business software company filed with the U.S. Securities and Exchange Commission on Oct. 28. As of Sept. 30, MicroStrategy’s holds a total of 114,042 bitcoins, valued at $7.5 billion based on a price […]
Henrico’s Essex Bank to lay off 51 employees in merger
The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them […]
Blue Ridge Bank, FVCbank merger delayed
The merger of Charlottesville-based Blue Ridge Bankshares Inc., the parent company of Blue Ridge Bank, and Fairfax-based FVC Bankcorp Inc., the parent company of FVCbank, will be delayed, the companies announced this week. The two regional companies announced the merger, which would create a $5 billion combined company, on July 14. The expected closing at […]
Virginia Society of CPAs’ 2022 Virginia Economic Expectations Survey interviews
HAMPTON ROADS Richard E. Groover, CPA Shareholder | Wall, Einhorn & Chernitzer PC Norfolk What local industries/sectors do you think have potential for growth? Continued growth around the Port of Virginia and green energy. … Entrepreneurs and local leaders have made substantial investments to tee up this area as part o[...]
SPAC-ulative finance
One of the hottest investment tools in the past year and a half has imploded. But don’t give up on special purpose acquisition companies, or SPACs as these peculiar financial structures are called, industry experts say. Also called blank-check companies, SPACs are here to stay, but not necessarily at the high-flying levels[...]
Langley Federal Credit Union to merge with Va. Beach Schools Credit Union
Newport News-based Langley Federal Credit Union and the Virginia Beach Schools Federal Credit Union have received regulatory approval for a Nov. 1 merger that will create a $4.1 billion institution, the credit unions announced Thursday. Langley CEO Tom Ryan will serve as CEO of the combined entity, which is expected to be fully [...]
Chesapeake Bank donates $100k to Rappahannock hospital
Chesapeake Bank has pledged $100,000 toward building a new emergency department at Bon Secours Rappahannock General Hospital in Kilmarnock, the bank announced Wednesday. “As a community bank with several offices on the Northern Neck, Chesapeake Bank is proud to support the campaign for Rappahannock General Hospital,” Jeffrey Szyperski, CEO and President of Chesapeake Bank said […]
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 [...]
