Virginia

Union First Market Bankshares' acquisition of StellarOne paid dividends in the second quarter. The Richmond, Va., company reported a profit of $14.8 million, up 56% from a year earlier.

Cardinal Financial (CFNL) in Tysons Corner, Va., blamed a 14% drop in profits on acquisition-related expenses.

Farmers & Merchants Bank (FMBM) in Timberville, Va., plans a preferred stock offering to raise $9.5 million.

The Virginia and West Virginia bankers associations have intensified merger discussions and could combine into a single trade group by year's end, according to a report Tuesday from Richmond BizSense.

TowneBank (TOWN) in Suffolk, Va., has agreed to buy Franklin Financial (FRNK) in Richmond, Va.

ARLINGTON, Va. — Credit union membership growth slowed in May while lending continued to strengthen, according to NAFCU's July Economic & CU Monitor.

MainStreet Bank (MNSB) in Fairfax, Va., reported higher profits on double-digit loan and deposit growth in the second quarter.

ALEXANDRIA, Va. — NCUA announced Monday that it has approved a federal charter for First Unity Federal Credit Union in McComb, Miss.

ALEXANDRIA, Va. — NCUA issued six prohibition orders Monday, banning the following people from participating in the business of any federally insured financial institution.

ALEXANDRIA, Va. — The individual at the center of a fake Internet-based credit union and that cost investors millions pleaded guilty Wednesday in federal court here.

Highlands Bankshares (HBKA) in Abingdon, Va., has registered nearly $18 million in common and preferred stock for certain shareholders, directors and executives.

First National (FXNC) in Strasburg, Va., has formed a mortgage division.

DAHLGREN, Va. — Bruce Six is the new CEO at $315 million NSWC Federal Credit Union.

Bank of America (BAC) has agreed to sell 17 branches in North Carolina and Virginia with a total of $944 million in deposits to First Community Bank in Bluefield, Va., and HomeTrust Bancshares (HTBI) in Asheville, N.C.

Eagle Bancorp (EGBN) in Bethesda, Md., has agreed to buy Virginia Heritage Bank (VGBK) in Tysons Corner, Va.

The $1.6-billion asset company, based in Asheville, N.C., is headed into Virginia for the first time after announcing plans Thursday to open a commercial loan production office in Roanoke.

ALEXANDRIA, Va. — Idaho, Iowa and Virginia continue to lead the way in state-level gains, according to NCUA.

ARLINGTON, Va. — There is more turnover at the top at NASCUS after chairman John Kolhoff resigned earlier this week due to increasing duties in his role as a Michigan regulator.

Eastern Virginia Bankshares (EVBS) said Thursday that it has agreed to acquire Virginia Company Bank (VGNA) for $9.2 million in stock and cash.

ALEXANDRIA, Va. — NCUA wants to help credit unions navigate the M&A waters.