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Roanoke fintech startup KlariVis closes $11M funding round
KlariVis closed an $11 million Series B funding round, the Roanoke-based banking data analytics startup announced Thursday. KlariVis provides data analytics solutions for community banks and credit unions. The fintech company has doubled its revenue and customer count year-over-year and has 100 clients, according to a news relea[...]
Virginia Credit Union, Member One announce merger
Chesterfield County-based Virginia Credit Union and Roanoke-based Member One Federal Credit Union announced plans to merge Thursday, a deal that would create the state’s third largest credit union, with a combined $6.7 billion in assets and 500,000 members. VACU is currently the fourth largest Virginia-based credit union, [...]
Ridge View Bank hires new SVP for New River Valley
Ridge View Bank has hired Todd Murray as senior vice president of commercial banking in the New River Valley, the Roanoke-based bank announced Wednesday. Murray will lead an expansion of bank’s commercial banking services in the New River Valley and will be responsible for loan and deposit production, collaborating with the ba[...]
Northwestern Mutual names Richmond managing partner
Northwestern Mutual named Heather Zepeda as managing partner of its network office in Richmond on Monday. She will oversee the offices in Richmond, Charlottesville, the Shenandoah Valley, Virginia Beach and Williamsburg. Zepeda joined the financial security company in 2010 after a legal career. She worked as managing director of[...]
16 Va. companies receive LGBTQ inclusivity awards
Sixteen Virginia companies received the top score in the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index, released in November. Nationally, more than 1,384 companies, including 378 Fortune 500 companies, participated in the organization’s 21st Corporate Equality Index (CEI) survey. Companies that do not[...]
CFBP fines Atlantic Union Bank for overdraft program
The Consumer Financial Protection Bureau fined Richmond-based Atlantic Union Bank on Thursday for illegally enrolling thousands of customers in checking account overdraft programs, according to a news release. The enrollments took place between 2017 and 2020, according to the bank. The bureau found that Atlantic Union, a subsidi[...]
Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is bas[...]
The times they are a-changin’
Talk of a looming recession has seemed endless for the past few years. However, with their eyes on long-term retirement investments, many wealth management advisers’ clients have avoided dramatic, emotion-driven decisions. Educated and guided by advisers, they understand the cyclical nature of investing and therefore are consi[...]
Benchmark Community Bank, parent announce next CEO
Kenbridge-based holding company Benchmark Bankshares and its bank, Benchmark Community Bank, will have a new leader at the start of the new year. Jay A. Stafford, president and CEO of the holding company and CEO of Benchmark Community Bank, will retire Dec. 31. He will also retire from the bank’s and company’s boards of dire[...]
Forvis to acquire Mazars’ U.S. operation
Top 10 U.S. accounting firm Forvis, which has about 270 employees in Virginia, announced Wednesday it will acquire Paris-based audit, tax and advisory firm Mazars’ U.S. arm, creating a new top 10 global accounting network to be known as Forvis Mazars. The merger is set to go in effect June 1, 2024, and the combined [&helli[...]
Fed’s Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) contracted slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
Old Point National Bank hires new CFO
Hampton-based Old Point Financial has named Paul M. Pickett senior vice president and chief financial officer of Old Point National Bank, effective Oct. 24, the bank announced Wednesday. Pickett joins Old Point National Bank from Richlands-based First Sentinel Bank, a subsidiary of First Region Bancshares, where he had also been[...]
