State Coverage: Virginia

Corporate Consolidation Speeds Up

American Banker | Jan 26

The NCUA Board this morning approved the proposed merger of Tennessee's Volunteer Corporate CU with West Virginia Corporate CU, accelerating the pace of the corporate restructuring.

StellarOne in Virginia Exits Tarp

American Banker | Dec 28

StellarOne Corp. in Charlottesville, Va., has repurchased the remaining $22.5 million in preferred stock it issued under the Troubled Asset Relief Program.

Virginia Bill to Consider Establishing a State-Owned Bank

American Banker | Dec 28

A Virginia lawmaker is urging his colleagues in Richmond to consider creating a state-owned bank that would use deposits from residents and state agencies to lend to local businesses and stimulate economic growth.

Union First Market of Va. to Exit TARP

American Banker | Dec 01

Union First Market Bankshares Corp. in Richmond, Va., said Thursday that it will redeem preferred stock issued to the Treasury Department as part of the Troubled Asset Relief Program.

Eagle, Alliance Terminate Merger

American Banker | Nov 28

The companies said in a press release Monday that "irreconcilable differences of opinion regarding a number of matters" had developed and, as such, the boards had decided to terminate their agreement.

Cardinal Financial in Virginia Posts Higher Earnings from Balance Sheet Growth

American Banker | Oct 19

Cardinal Financial Corp. in Tysons Corner, Va., on Wednesday said that third-quarter earnings rose 46% from a year earlier, to $8.6 million, due largely to improved credit trends and balance sheet growth.

FJ Capital in Washington Lands Investment from Bridge Equities

American Banker | Oct 13

FJ Capital Management said Thursday that it had received a "significant investment" by Bridge Equities LLC.

TowneBank to Acquire North Carolina Insurance Firm

American Banker | Oct 13

TowneBank in Suffolk, Va., is buying a Raleigh, N.C., insurance agency and merging it into its insurance subsidiary.

Access National in Virginia Rejects SBLF Financing

American Banker | Aug 17

Access National Corp. in Reston, Va., said Wednesday that it rejected the Treasury Department's offer of $28 million in capital through the Small Business Lending Fund.

Heritage in Va. is Latest Bank to Use Small Business Fund to Exit Tarp

American Banker | Aug 11

Heritage Bankshares Inc. said Thursday that it had completed a $7.8 million investment transaction in the Small Business Lending Fund program.

Succession Plan Escalates Activist's Discord with Cardinal Bankshares of Va.

American Banker | Aug 04

Cardinal Bankshares' biggest outside shareholder, Schaller Equity Partners, is hopping mad over an act that normally gives investors comfort: succession planning.

New Executive at Virginia Bank Lacks Experience, Investor Says

American Banker | Aug 01

An activist investor at Cardinal Bankshares Corp. in Floyd, Va., is protesting the company's latest executive hire.

Integra Bank Tops Week's Failures as '11 Tally Hits 61

American Banker | Jul 29

Integra Bank in Evansville, Ind., was closed by the Office of the Comptroller of the Currency, after fighting to survive for nearly two years.

Virginia Investor Takes Gamble Buying Failed Bank's Shell

American Banker | Jul 20

Steel man Frank Williams Jr. aims to become a winner in the bank consolidation game by capitalizing on Great Atlantic Financial's losses.

East Carolina Bank to Acquire Seven N.C. Branches from Hampton Roads Bancshares

American Banker | Jul 14

ECB Bancorp announced after the market closed Thursday that it is buying seven branches and $195M of deposits in North Carolina from Hampton Roads Bancshares.