Eastern Virginia Bankshares in Tappahannock is backing up the moving van as it prepares to relocate its headquarters to a Richmond suburb, with an eye toward efficiency and growth.

The $1.3 billion-asset company will move its home base about 47 miles southwest to Glen Allen, Va. The move is scheduled for early fall. However, the main office of its banking unit, EVB, will remain in Tappahannock.

Eastern Virginia Bankshares said the move would allow it to put into one location its corporate departments and key members of its leadership team who are now spread apart. It aims to increase collaboration and production, as well as to reel in new customers.

"Our new corporate headquarters, located in the Innsbrook business park, will allow us to integrate corporate departments from other locations throughout our footprint," Chief Executive Joe Shearin said in the release.

The company targets small to midsize businesses as well as consumers. It has 24 full-service branches, two drive-in facilities and one loan production office in eastern Virginia.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.