Banking apparently beckons Billy Beale. The veteran Richmond banker, who first retired as CEO of what’s now Atlantic Union Bank in 2016 only to un-retire for a brief gig at Community Bankers’ Bank in 2018, has un-retired once again. This time he’s back to take the helm of Blue Ridge Bank, which is based in… Read more »
The spike in loan rates that began in 2022 has prompted some real estate developers to rethink their math, leading some to delay construction on previously announced projects in the Richmond region or, in some cases, to put project sites back up for sale.
Amid tumult in the broader banking market, Richmond-area banks are getting a new competitor.
The branch was built in the 1990s as an outpost of Dominion Bank of Richmond and has since been home to First Union Bank, Wachovia and Wells Fargo.
The banking giant would purchase and raze the long-vacant former Hardee’s building, which sits across from competitor Chase Bank’s Willow Lawn outpost.
The branch next to the Market @ 25th grocery store will mark the $5 billion credit union’s fourth new branch in the city in about a year.
The neighborhood continues its streak as the local hotspot for new bank branches, this time with a $26 billion bank looking to set up shop along Broad Street.
“We perceive this as Atlantic Union graduating to the next level up,” CEO John Asbury said of the transfer, which is set to take place Jan. 18.
A long-fought bank vs. credit union battle came to an end this year, while out-of-town continued to show up for a piece of the Richmond market.
The bank first expanded into the Richmond market in August 2020 with a two-person team. It now has seven on the ground here and just leased a bigger office in Henrico.
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