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Richmond-based investment nonprofit to manage $33M guarantee pool
Richmond-based LOCUS Impact Investing, a subsidiary of Virginia Community Capital, will manage a newly formed $33.1 million national guarantee pool to encourage community development, according to a press release Tuesday. The Community Investment Guarantee Pool has $33.1 million in unfunded guarantee commitments from the endowments of 10 philanthropic organizations, which help mitigate investment risks. The […][...]
Matrix Capital Markets Group adds two directors
Richmond-based independent investment bank Matrix Capital Markets Group Inc. has promoted William J. O’Flaherty and Stephen C. Lynch as directors. O’Flaherty has been a member of the investment bank’s consumer and industrial products group since 2011. He holds a bachelor’s degree in commerce with a concen[...]
Yount, Hyde and Barbour acquires Woodcock & Associates PC
Winchester-based accounting and consulting firm Yount, Hyde and Barbour (YHB) has acquired Fredericksburg-based accounting firm Woodcock & Associates PC, YHB announced late last week. Financial terms of the acquisition were not disclosed. Woodcock & Associates specializes in construction accounting and has worked with cl[...]
Breakout Capital promotes McLean Wilson to CEO and president
McLean-based financial services company Breakout Capital LLC has promoted McLean Wilson from chief credit officer to chief executive officer and president, the company announced Jan. 14. Wilson joined Breakout — which provides capital loans and underwriting to small businesses —in 2016 as the company’s first lender. In h[...]
Atlantic Union Bank sells Fredericksburg building for $3.575M
Atlantic Union Bank sold one of its Fredericksburg office buildings for $3.575 million but will continue occupying the first floor, leasing it from the new owner, Cushman & Wakefield | Thalhimer announced this week. The 21,594-square-foot property located at 4805 Lassen Lane in Spotsylvania County is situated on approximately 2.24 acres located directly off U.S. […]
Truist’s new branding reflects BB&T and SunTrust merger
Truist Financial Corp. has unveiled a new logo and other branding following the completion of the December 2019 merger of Branch Banking and Trust Co. (BB&T) and SunTrust Banks Inc. “Our visual brand identity speaks to the importance of human touch and dynamic technology in delivering trusted solutions to our clients,&[...]
Roanoke accounting firm acquires real estate title firm
Roanoke-based accounting firm Brown Edwards acquired Salem-based Covenant Real Estate Services LLC as of Jan. 1, Brown Edwards announced Monday. Financial terms of the deal have not been disclosed. Covenant was founded by Roger Kronau and Jerry Dunnavant, and both will serve in leadership positions under the acquisition. Kronau will continue his work as the […]
Bay Banks of Virginia names new executive VP
Michael H. Troutman was hired as executive vice president and chief revenue officer of Richmond-based Bay Banks of Virginia Inc., holding company for Virginia Commonwealth Bank and VCB Group Inc., the bank announced Thursday. Troutman has been in banking for 18 years and in his new role will be responsible for revenue-generation[...]
Old Dominion National Bank taps new board members
Tysons-based Old Dominion National Bank announced three new members of its board of directors Wednesday. The new board members include Jim Abdo, president and CEO of Abdo Development, a Washington, D.C.-headquartered development company that specializes in adaptive re-use of urban properties in the capital region; Jennifer Bogne[...]
Truist names three Virginia regional bank presidents
Truist Financial Corp., the Charlotte, North Carolina-based mega bank created in December following the merger of BB&T and SunTrust, announced Tuesday it has named 24 regional presidents, three of whom will oversee the Virginia market. “Our ability to leverage our unique community model with its decentralized, regional str[...]
Oral arguments set for Virginia Credit Union, bank dispute
Oral arguments are set for Jan. 6 in a dispute between the Virginia Credit Union and seven small community banks and the Virginia Bankers Association (VBA) over the credit union’s offer to include the Medical Society of Virginia’s 10,000 members. A. Ann Berkebile, a senior hearing examiner at the State Corporation Commission, scheduled oral arguments […]
Atlantic Union Bank donates building to Bowling Green
Richmond-based Atlantic Union Bank has donated a 480-square-foot building to the Town of Bowling Green, which will use it as the town’s new economic development office, the bank announced Monday. Atlantic Union Bank traces its origins back to the Caroline County Bank, which opened in Bowling Green in 1902 and later became know[...]
