Virginia

ECB Bancorp Inc. will no longer buy the deposits and certain assets of seven North Carolina branches from Hampton Roads Bankshares Inc. in Norfolk, Va., after funding for the deal fell through.

ALEXANDRIA, Va. — The NCUA Board this morning approved the proposed merger of Tennessee's Volunteer Corporate CU with West Virginia Corporate CU, accelerating the pace of the corporate restructuring.

StellarOne Corp. in Charlottesville, Va., has repurchased the remaining $22.5 million in preferred stock it issued under the Troubled Asset Relief Program.

A Virginia lawmaker is urging his colleagues in Richmond to consider creating a state-owned bank that would use deposits from residents and state agencies to lend to local businesses and stimulate economic growth.

Hampton Roads Bankshares Inc. in Norfolk, Va., has shuffled its management ranks and created several new divisions as it aims to regain its footing after suffering steep losses on real estate loans.

Union First Market Bankshares Corp. in Richmond, Va., said Thursday that it will redeem preferred stock issued to the Treasury Department as part of the Troubled Asset Relief Program.

The companies said in a press release Monday that "irreconcilable differences of opinion regarding a number of matters" had developed and, as such, the boards had decided to terminate their agreement.

Cardinal Financial Corp. in Tysons Corner, Va., on Wednesday said that third-quarter earnings rose 46% from a year earlier, to $8.6 million, due largely to improved credit trends and balance sheet growth.

FJ Capital Management said Thursday that it had received a "significant investment" by Bridge Equities LLC.

TowneBank in Suffolk, Va., is buying a Raleigh, N.C., insurance agency and merging it into its insurance subsidiary.

Hampton Roads Bankshares Inc. in Norfolk, Va., announced Thursday that its president and chief executive officer, John A.B. "Andy" Davies has resigned to return to his management consulting practice.

Access National Corp. in Reston, Va., said Wednesday that it rejected the Treasury Department's offer of $28 million in capital through the Small Business Lending Fund.

Heritage Bankshares Inc. said Thursday that it had completed a $7.8 million investment transaction in the Small Business Lending Fund program.

Cardinal Bankshares' biggest outside shareholder is hopping mad over an act that normally gives investors comfort: succession planning.

John F. Novak, chief executive of Millennium Bankshares Corp. in Sterling, Va., is expected to step down at the end of this month.

An activist investor at Cardinal Bankshares Corp. in Floyd, Va., is protesting the company's latest executive hire.

Integra Bank in Evansville, Ind., was closed by the Office of the Comptroller of the Currency, after fighting to survive for nearly two years.

Steel man Frank Williams Jr. aims to become a winner in the bank consolidation game by capitalizing on Great Atlantic Financial's losses.

ECB Bancorp in Englehard, N.C., announced after the market closed Thursday that it is buying seven branches and $195 million of deposits in North Carolina from Hampton Roads Bancshares Inc. of Norfolk, Va.

Union First Market Bank in Richmond, Va., announced Monday that it has opened seven branches inside Martin's Food Markets in central Virginia.