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The Results of the Virginia Society of CPAs’ 2021 Virginia Economic Expectations Survey
Oct 27, 2020

The Results of the Virginia Society of CPAs’ 2021 Virginia Economic Expectations Survey

  To download the results as a PDF click here   Related Articles We asked five certified public accountants for their take on the state of their regions. This is what they had to say. Answers have been edited for length and clarity. The Results of the Virginia Society of CPAs’ 2021 Virginia Economic Expectations [...]

Oct 1, 2020

Morgan Stanley expected to complete $13B E-Trade acquisition Friday

Morgan Stanley announced Thursday it has won regulatory approval and expects to complete its $13 billion acquisition of Arlington-based online brokerage E-Trade Financial Corp. on Friday.  In late July, E-Trade announced that more than 99% of its stockholders had approved the acquisition, which will be one of the largest acquisitions of a local company in […]

Oct 1, 2020

Virginia National, Fauquier banks to merge

The parent holding companies of Virginia National Bank and The Fauquier Bank will merge under the Virginia National brand into a combined bank with $1.6 billion in total assets. Charlottesville-based Virginia National Bankshares Corp. and Warrenton-based Fauquier Bankshares Inc. have signed a definitive merger agreement, the banks announced Thursday. The combined company will have approximately $1.4 […][...]

Sep 28, 2020

Making bank

Suffolk-based TowneBank maintains its dominance among Hampton Roads financial institutions, holding nearly a quarter of the market share. In late June, TowneBank and Children’s Hospital of the King’s Daughters jointly purchased the 22-story Norfolk Southern tower in downtown Norfolk for $30 million. TowneBank’s market share increased slightly from last year, when it had 22.29% of […][...]

Sandi Cauley, owner of Turn Cardio Jam Studio, received a grant from the city of Richmond.
Sep 28, 2020

Richmond converts small business loans to grants

Five years ago, when Sandi Cauley opened her boutique fitness business, Turn Cardio Jam Studio, she did so on her own dime — not wanting to be strapped to loans and investors. But after the pandemic hit, she needed outside help to keep her business afloat. After she had trouble securing a Paycheck Protection Program […]

Samuel A. Schreiber. Photo courtesy Trustar Bank
Sep 17, 2020

Trustar Bank names senior adviser

Great Falls-based Trustar Bank announced Tuesday it has hired Samuel A. Schreiber as senior adviser. Schreiber was most recently president of Chain Bridge Bank, but spent 25 years of his career with Wachovia as well as Wells Fargo after their 2008 merger. He was Washington, D.C., president and mid-Atlantic regional president wit[...]

Vasanta B. Pundarika (L) and Amanda Verner Thompson. Photos courtesy Matrix Capital Markets Group Inc.
Sep 9, 2020

Richmond investment bank launches health care group

Richmond-based investment bank Matrix Capital Markets Group Inc. announced Wednesday it has established the Matrix Healthcare Banking Group, which will focus on health care subsectors. The industry group will be led by Amanda Verner Thompson and Vasanta B. Pundarika, who joined the firm as managing directors and co-heads of the [...]

Sep 2, 2020

Fed says Fifth District economy continues to improve, but activity remains low

The economy of the Fifth District of the Federal Reserve (which includes Virginia, North Carolina, South Carolina, West Virginia and Maryland) has continued to improve in recent weeks, but activity has remained below pre-pandemic levels in most industries, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published […]

Richard D. “Rick” Pillow. Photo courtesy Virginia Credit Union League
Sep 2, 2020

Va. Credit Union League president to retire next June

The Virginia Credit Union League (VCUL) announced Wednesday that its longtime president, Richard D. “Rick” Pillow, will retire on June 30, 2021, after dedicating 40 years to the credit union system. “Anyone who has worked with Rick knows his passion for credit unions,” VCUL Board Chairman Patsy Stuard, CEO of Fort Lee Fe[...]

MainStreet Bank names chief operating officer
Aug 30, 2020

MainStreet Bank names chief operating officer

Lisa Kilgour has been promoted to executive vice president and chief operating officer of Fairfax-based MainStreet Bank, its parent company, MainStreet Bancshares Inc., announced Friday. A Virginia Tech graduate, Kilgour joined the bank in 2017 as senior vice president and chief information officer, and before that, served as se[...]

Aug 29, 2020

Finance | Insurance

JOHN ASBURY PRESIDENT AND CEO, ATLANTIC UNION BANKSHARES, RICHMOND A Radford native, Asbury transitioned from a career with large financial institutions to help build a regional bank. After successful mergers in 2018 and 2019, Atlantic Union expanded its footprint in Northern Virginia, Maryland and North Carolina, making it the largest regional bank headquartered in Virginia. […]

Aug 25, 2020

Navy Federal hires new CFO

Vienna-based Navy Federal Credit Union has hired John Collins, a 20-year veteran of Capital One Financial Corp, as its new chief financial officer. “John brings with him a wealth of experience that will serve Navy Federal well,” said Navy Federal President and CEO Mary McDuffie. “I know with his proven track record, John will hit […]

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