Maryland and Virginia bankers associations merge

The Maryland Bankers Association and the Virginia Bankers Association have merged, creating the Mid-Atlantic Bankers Association holding company, according to an announcement Monday. 

The Mid-Atlantic Bankers Association will serve as a holding company headquartered in Glen Allen, and MBA and VBA will operate as subsidiaries. According to VBA, the holding company will have its own board comprised of both Maryland and Virginia bankers associations’ board members, and the two state association boards will continue to exist. 

“Our rich histories, dating back to the late 19th century, continue to be the foundation for our future endeavors as we continue to uphold the essence and mission of both associations,” Bruce Whitehurst, VBA’s president and CEO, stated in the release.

Whitehurst will serve as president and CEO of the Mid-Atlantic Bankers Association, while Ramon Looby, the president and CEO of MBA, will be its executive vice president.

The boards and members of both MBA and VBA, according to an announcement distributed by both organizations today, endorsed this move, which is designed to enhance industry advocacy and member services. By consolidating, the news release points out, the organizations are also following the lead of the banking industry, which has seen rampant consolidation. 

The VBA has 90 member banks, and the MBA has 50 member banks.