Virginia

The Electronic Payments Association announced the election of new officers to its board of directors.

No CUs with assets of more than $250 million were subject to civil monetary penalties for filing late Call Reports.

The $227 million Valor Federal Credit Union lost more than $2.2 million in 2016 prior to its acquisition by the $21 billion Pentagon Federal Credit Union.

Merger will give PenFed a retail presence in the competitive San Diego marketplace.

The company recently received Fed approval to increase its ownership in Carter to 9%.

First Community Bancshares in Bluefield, Va., spent $15.5 million to buy back the securities.

Banks are grappling with new challenges in trying to work with voice assistants like Alexa in Amazon's Echo to allow customers to check balances and perform other tasks. But with voice banking on the horizon, banks cannot afford to stall their efforts.

F&M Bank Corp. in Timberville, Va., has acquired Valley Southern Title in Harrisonburg, Va.

Southern National Bancorp of Virginia in McLean has agreed to buy Eastern Virginia Bankshares in Glen Allen for $178.3 million.

Union Bankshares in Richmond, Va., has sold $150 million in subordinated notes. The $8.2 billion-asset company said in a press release Monday that the notes will initially bear an annual fixed interest rate of 5%.

Capital One Financial in McLean, Va., is splitting up the management of its cards business.

Old Dominion National Bank has opened a new office in the northern Virginia suburbs of Washington and has hired five bankers to work there.

Carter Bank in Virginia had been enjoying record profit until it was ordered to beef up Bank Secrecy Act compliance. The institution is the latest community bank to take a hit from enhanced oversight.

MainStreet Bancshares in Fairfax, Va., has hired a veteran Virginia banker as its president.

The $70 million-asset bank said in a press release that Thomas Dungan 3rd, Yong Li, Wendy Mitchell and Paul Zhu have joined its six directors.

Bay Banks of Virginia in Kilmarnock has agreed to buy Virginia BanCorp in Petersburg.

Small businesses hungry for financing will quickly ditch a banking relationship if they are unhappy, according to a new J.D. Power report.

Costs associated with a customer refund reserve in the United Kingdom contributed to a decline in Capital One Financial's third-quarter profit.

The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.

Access National in Reston, Va., has agreed to buy Middleburg Financial in Virginia for $233.1 million, or $32.51 a share, in stock.