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Chartway Credit Union names new CFO
Virginia Beach-based Chartway Credit Union has hired Sander Casino as its chief financial officer, the credit union announced Wednesday. Casino was most recently senior vice president of finance for Raleigh, North Carolina-based Local Government Federal Credit Union and its affiliate Civic Credit Union. Before joining LGFCU in 2[...]
Wilbanks Smith and Thomas acquired
Norfolk-based Wilbanks Smith and Thomas Asset Management has been acquired by Cleveland-based registered investment adviser Clearstead Advisors. The companies signed the merger in February 2024. Financial terms of the acquisition, which closed April 1, were not disclosed. Clearstead rebranded WST’s advisory business as Cle[...]
Fahrenheit Advisors announces new COO
Richmond-based consulting firm Fahrenheit Advisors has added Kris Cravey to its executive ranks. Cravey, formerly chief people officer at Virginia Beach-based DroneUp, will be chief operating officer at Fahrenheit Advisors, the company announced Tuesday. In his new role, he will take primary responsibility for overseeing the exe[...]
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 April 17. Published eight times per year, the Beige Boo[...]
Second new SCC judge is sworn in
Attorney Kelsey A. Bagot was sworn in Monday as the newest judge on the Virginia State Corporation Commission, filling its three-commissioner bench for the first time since March 2022. The SCC’s panel was short two judges after the December 2022 resignation of Judge Judith Jagdmann, and nominations were held up by partisan[...]
Atlantic Union completes $507M purchase of American National
Richmond-based Atlantic Union Bankshares completed its acquisition Monday of Danville-based American National Bankshares, parent company of American National Bank and Trust. Based on the $35.31/share closing price Thursday of Atlantic Union common stock, the transaction value was approximately $507 million, according to Atlantic[...]
Out of balance
Kate Austin had a job waiting for her when she graduated last year from Christopher Newport University with a bachelor’s degree in business administration. “I love it,” she says about her work as a tax associate at Keiter, a certified public accounting firm in Henrico County. Unlike two of her friends, who are still lo[...]
Capital One-Discover deal faces federal scrutiny
McLean-based Capital One Financial announced plans in February to buy Discover Financial Services for $35.3 billion in an all-stock deal that would mark Capital One’s largest ever acquisition and make it the nation’s biggest credit card lender. The transaction is expected to close in late 2024 or early 2025, accordin[...]
First National to acquire Prince George-based community bank
Strasburg-based First National has entered into a definitive merger agreement to acquire Prince George-based Touchstone Bankshares in an all-stock transaction worth approximately $47 million, First National announced Tuesday. The parent companies’ merger combines community banks First Bank and Touchstone Bank to create a b[...]
Atlantic Union names new Hampton Roads president
Richmond-based Atlantic Union Bank has named Lisa Morgan its new Hampton Roads market president, the Richmond-based bank announced Monday. Morgan will also continue to hold the role of wealth relationship director with the bank’s wealth consulting group, a position she has held since she joined Atlantic Union Bank in 2021.[...]
Virginia Tech announces new CFO
Virginia Tech has hired Simon Allen as its chief financial officer and vice president for finance, the university announced Monday. Allen is currently vice president for finance and CFO of the Ithaca campus of Cornell University. In his new role, which he’ll start May 6, Allen will report to Virginia Tech Executive Vice Pr[...]
Fed’s Fifth District economy stays the course
Economic activity in the Federal Reserve’s Fifth District was little changed in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released March 6. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered from the nation̵[...]
