Virginia

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.

Xenith Bankshares in Richmond, Va., had added a former chief executive of Amalgamated Bank to its board.

First Community Bancshares in Bluefield, Va., has sold four insurance offices.