Virginia

For the first time in its history, Virginia Community Bank in Louisa has a CEO whose name is not A. Pierce Stone.

Continuing to be plagued by problem construction loans, Hampton Roads Bancshares Inc. in Norfolk, Va., said after the markets closed on Monday that it lost $31.7 million in the quarter that ended March 31.

First National Corp. in Strasburg, Va., has hired a veteran banker, Scott Harvard, as its chief executive. Harvard, the chairman of the Federal Home Loan Bank of Atlanta, is also the CEO of the First Bank unit of First National.

Chartway Federal Credit Union in Virginia Beach has expanded in Utah With its acquisition Friday of the failed Utah Central Credit Union.

Cardinal Financial Corp. in Tysons Corner, Va., reported that its first-quarter profit rose 37% from a year earlier, to $5.2 million, as the company reported lower credit costs and higher income.

Navy Federal Credit Union's move to eliminate balance transfer fees for new credit card accounts may demonstrate that the credit card industry has recovered sufficiently from economic and regulatory setbacks to return to more aggressive marketing.

NASA Federal Credit Union is making arrangements to offer members skip-a-payment loans and other relief in case the continuing budget impasse in Congress causes a federal government shutdown.

A pair of community banks have reduced the Treasury Department's ownership stake in their companies.

Virginia Commerce Bancorp Inc. said Monday it has appointed an interim successor for its chief financial officer, who died last month following complications from cancer.

Pentagon Federal Credit Union in Alexandria, Va., has announced that it plans to open at least 10 PenFed Realty offices, boosting employment by up to 1,000 agents by yearend.

On Tuesday, the Fed reported the formal actions it took against $242 million-asset American Bancorp. of Minnesota Inc. in Baxter, $1.2 billion-asset Eastern Virginia Bankshares Inc and its EVB bank unit in Tappahannock, $1.5 billion-asset Marquette Financial Cos. in Minneapolis and $541 million-asset National Bancorp Inc. in Schaumburg, Ill.

Eastern Virginia Bankshares in Tappahannock said Friday that it had suffered an $8.1 million loss in the fourth quarter as its borrowers struggled to make payments.

Pentagon Federal Credit Union has hired a former bank executive to run one of the most active funders of military charities in the U.S.

The Federal Reserve Board said Thursday that it had issued a prompt-corrective-action order to Virginia Business Bank in Richmond.

Virginia Heritage Bank in Fairfax reported $1.3 million of fourth-quarter net income, an 86.5% increase from a year earlier.

Virginia Commerce Bancorp Inc.'s fourth-quarter earnings rose, but fell short of analysts' expectations.

The president and chief executive of Pinnacle Bankshares Corp. in Altavista, Va., is retiring. Robert Gilliam Jr., will leave in a "midyear 2011 time frame," the $303.5 million-asset company said Tuesday in a press release.

Cardinal Financial Corp. in McLean, Va., said Friday that it probably incurred a goodwill impairment charge of $2.6 million in the fourth quarter.

Central Virginia Bankshares Inc. in Powhatan said Monday that it promoted Herbert Marth Jr. to president and chief executive.

Several banks rushed to repay investments under the Troubled Asset Relief Program in December, but hundreds head into the new year desperate for an exit strategy, even if it means selling.