September 2022 Top Five

The top five most-read daily news stories on VirginiaBusiness.com from Aug. 15 to Sept. 14 included two items focusing on TowneBank, the No. 1 bank in Hampton Roads by market share.

1  |   TowneBank to acquire Farmers Bank

Suffolk-based TowneBank agreed to acquire Windsor-headquartered Farmers Bankshares Inc., parent company of Farmers Bank, in a $56 million deal. (Aug. 18)

2  |   Va. Beach’s DroneUp to add 655 jobs

The Virginia Beach-based unmanned aerial vehicles firm announced a $27 million expansion that will include a drone center at Richard Bland College. (Aug. 24)

3  |   258 Va. companies make this year’s Inc. 5000

Richmond-based IT staffing firm Summit Human Capital was the top-ranked Virginia company on Inc.’s 2022 list of the nation’s 5,000 fastest-growing privately held companies. (Aug. 16)

4  |   Richmond picks Diamond District development team

The city selected a joint venture including Richmond-based Thalhimer Realty Partners to build a new baseball stadium as the centerpiece of a mixed-use neighborhood revitalization project. (Sept. 12)

5  |   TowneBank names new CEO

On Jan. 1, 2023, William “Billy” I. Foster III, the bank’s market president for Central Virginia and the Carolinas, will succeed J. Morgan Davis, who is retiring. (Aug. 26)