Virginia

WashingtonFirst Bankshares (WFBI) in Reston, Va., is the latest lender to divest securities on concerns about the Volcker Rule's controversial ban on collateralized debt obligations.

American National Bankshares (AMNB) in Danville, Va., has tapped one of its executives to become chief banking officer.

Union First Market Bancshares (UBSH) in Richmond, Va., plans to remake its board and expand its executive team after acquiring StellarOne (STEL) in Charlottesville, Va.

United Bancshares (UBSI) in Charleston, W.Va., and Virginia Commerce Bancorp (VCBI) in Arlington have pushed back the deadline for their merger as they await final regulatory approval.

Bank investor Kenneth Lehman plans to buy a controlling stake in Marine Bank & Trust Co. in Vero Beach, Fla.

Cardinal Bankshares (CDBK) in Floyd, Va., reported a steep quarterly loss as it continues to work through legacy credit losses.

Community Bankers Trust (ESXB) in Glen Allen, Va., has redeemed $2.5 million of preferred shares issued to the Treasury Department under the Troubled Asset Relief Program.

John Marshall Bank in Reston, Va., could raise $32.4 million in a public offering, according to newly released pricing information.

The former chief executive and chairman of Bank of the Commonwealth in Norfolk, Va., has been sentenced to 23 years in federal prison for spearheading a fraud scheme that led to the failure of the bank.

The Treasury Department plans to auction seven more lenders' Troubled Asset Relief Program shares, with a total face value of about $90 million.

The Federal Reserve Board has hit three Southern banks — Highlands Community Bank and New Peoples Bank in Virginia, and North Georgia Community Financial Partners — with enforcement actions.

The Treasury Department expects to receive roughly $66 million from a recent auction of stakes it owns in seven banks from the Troubled Asset Relief Program.

Capital One Financial in McLean, Va., has renamed and expanded its asset-backed lending unit.

The Treasury Department plans to auction stakes in eight more banks as it continues winding down the Troubled Asset Relief Program.

Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., didn't have to look far to find its permanent chief financial officer.

Cordia Bancorp (BVA) in Midlothian, Va., has hired Mark Severson as chief financial officer.

A former senior commercial loan officer at the failed Bank of the Commonwealth in Norfolk, Va., has been sentenced to 17 years in federal prison for hiding bad loans from regulators.

Cardinal Financial Corp. (CFNL) has agreed to buy United Financial Banking (UFBC) for nearly $52 million. The two companies are in the northern Virginia suburbs of Washington.

City Holding (CHCO) in Charleston, W.Va., said it will close a branch in Virginia Beach after determining that the location had an undesirable deposit mix.

TowneBank (TOWN) in Portsmouth, Va., has converted all of its Series A preferred stock into common stock.