Virginia

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.

Dwight Utz, who is leaving VantageSouth in North Carolina five months after it bought his bank, says he is looking for CEO jobs Virginia, Maryland or Pennsylvania.

Community Bankers Trust (ESXB) in Glen Allen, Va., has agreed to sell its Georgia operations to Community & Southern Holdings in Atlanta.

In a move aimed at reducing its cost of funds, Eastern Virginia Bankshares (EVBS) is retiring debt owed to the Federal Home Loan Bank System.

The Federal Reserve Board has terminated enforcement actions with Marquette Financial in Minneapolis and Bank of Virginia in Midlothian.

Cardinal Financial (CFNL) of McLean, Va., has promoted William T. "Bill" Mundy, an executive at its banking unit, to senior vice president and executive managing director of wealth services.

The chief executive of First Community Bancshares (FCBC) in Bluefield, Va., plans to step down.

The Federal Reserve Board has terminated an enforcement action against Eastern Virginia Bancshares in Tappahannock and has fined Blencoe State Bank in Iowa.

Virginia Heritage Bank (VGBK) in Tysons Corner raised $22 million in its recent public offering.

Eastern Virginia Bancshares (EVBS) has closed a $5 million rights offering. The offering followed a $45 million private placement announced in March, in which the company sold a 30% stake to institutional investors.

The companies announced last week an agreement to merge Acacia into Stifel Bank and Trust, the investment bank and brokerage's $3.9 billion-asset bank. The terms were not disclosed.