Virginia

The $390.1 million-asset company said in a press release Tuesday that it has agreed to sell common stock to institutional investors led by Patriot Financial Partners.

Village Bank in Midlothian, Va., has been released from an enforcement order issued by the Federal Deposit Insurance Corp. and Virginia Bureau of Financial Institutions.

Middleburg Financial in Middleburg, Va., plans to record a $3 million impairment charge tied to a participation loan in which the borrower has been accused of fraud.

TowneBank in Suffolk, Va., has agreed to buy Monarch Financial Holdings in Chesapeake, Va., for $220.6 million in stock.

Bank of Lancaster in Kilmarnock, Va. has promoted Susan Pittman to the newly created position of chief lending officer.

Cardinal Bankshares in Floyd, Va., has named a new chairman and made additional executive appointments ahead of its merger with Grayson Bankshares in Independence, Va.

WashingtonFirst Bankshares in Reston, Va., plans to raise up to $31.1 million by selling common stock.

Fauquier Bankshares in Warrenton, Va., is planning to record a $5.5 million impairment charge tied to a souring loan relationship.

Blue Ridge Bankshares in Luray, Va., has issued $10 million in subordinated debt and plans to exit the Small Business Lending Fund.

Bank of the James Financial Group in Lynchburg, Va., is planning to raise about $11.5 million through a private placement.