Virginia

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.