Eastern Virginia Bankshares in Tappahannock is backing up the moving van as it prepares to relocate its headquarters to a Richmond suburb, with an eye toward efficiency and growth.
The $1.3 billion-asset company will move its home base about 47 miles southwest to Glen Allen, Va. The move is scheduled for early fall. However, the main office of its banking unit, EVB, will remain in Tappahannock.
Eastern Virginia Bankshares said the move would allow it to put into one location its corporate departments and key members of its leadership team who are now spread apart. It aims to increase collaboration and production, as well as to reel in new customers.
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Eastern Virginia Bankshares in Tappahannock has repurchased a warrant from the Treasury Department tied to the Troubled Asset Relief Program.
May 14 -
First South Bancorp in Washington, N.C., will close three branches as part of a larger branch-restructuring plan.
November 18 -
Carver Bancorp in New York has entered into a formal agreement with the Office of the Comptroller of the Currency that includes mandates tied to the Bank Secrecy Act and commercial real estate.
May 27
"Our new corporate headquarters, located in the Innsbrook business park, will allow us to integrate corporate departments from other locations throughout our footprint," Chief Executive Joe Shearin said in the release.
The company targets small to midsize businesses as well as consumers. It has 24 full-service branches, two drive-in facilities and one loan production office in eastern Virginia.