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The Treasury Department has agreed to sell a large stake in Hampton Roads Bankshares (HMPR) in Virginia Beach.
April 10 -
The Federal Reserve Bank of Richmond and the Virginia Bureau of Financial Institutions have terminated their regulatory agreement with Hampton Roads Bankshares (HMPR) in Virginia Beach and its subsidiary the Bank of Hampton Roads.
February 25 -
Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., made big gains in the third quarter because of lower costs tied to foreclosed properties and repossessed assets.
November 8
Hampton Roads Bankshares (HMPR) in Virginia Beach, Va., reported higher net income that largely reflected lower expenses and a spike in income from bank-owned life insurance.
The $2 billion-asset company's first-quarter earnings totaled $3.9 million, compared to $632,000 a year earlier. Noninterest expenses fell 5%, to $18.5 million, as the company reported lower occupancy costs and reduced expenses tied to Federal Deposit Insurance Corp. insurance.
Noninterest income jumped 35%, to $7.3 million, though $3.2 million of that amount came from bank-owned life insurance. Hampton Roads' income from bank-owned life insurance totaled just $373,000 a year earlier. The company said in a press release that the spike in insurance income was tied to the deaths of a current employee and a former employee during the quarter.
The company recorded a $100,000 loan-loss provision. Nonperforming assets as a percentage of total assets fell to 5.16% compared to 7.51% a year earlier. Net chargeoffs fell 17%, to $3.9 million.
