Eastern Virginia Bankshares in Tappahannock is consolidating its three bank charters.
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The $755 million-asset company said Friday that the aim is to improve efficiency and give customers access to all of its 22 branches. It expects to complete the move in the second quarter.
Chief executive Joe Shearin said that the company is not planning layoffs, despite the consolidation of back-room operations, and that any staff reductions would occur through attrition. The company is doing research to decide what to call the surviving bank, he said.
