Virginia Business Bank »
Bank closes a branch, readies capital campaign
As it works its way through a turnaround plan with regulators, a Richmond-based bank closes one of its two branches.
Read More »Local credit union may need a life line
Richmond is home to two of the lowest rated financial institutions in the state, according to bank and credit union ratings released last week. But of the 18 community banks headquartered in the Richmond
Read More »Virginia Business Bank tries to break out of holding pattern
After almost eight months of operating under a strict regulatory turnaround/survival plan and having moved on to its third president since the fall, a Richmond-based bank has rethought its plan and might reinvent itself
Read More »The Herd: Promotions and departures for 3.3.10
A diverse Herd this week, with a new head of the FBI’s Richmond office and big changes at a local bank.
Read More »New bank finally opens; paperwork not quite done
A new bank based in Richmond is going to have to appeal a NASDAQ ruling to keep it stock trading on that exchange. But at least it’s open after a process that had more
Read More »New head at Virginia Business Bank
Merlin Henkel, the former president and chief executive of Virginia Business Bank, has been replaced by Terrie G. Spiro, an executive with decades of experience at regional banks in the mid-Atlantic
Read More »Regulators request turnaround plan from Va. Business Bank
At the request of state and federal regulators, Richmond-based Virginia Business Bank must submit a survival plan that assesses management and basic metrics and prevents the bank from lending more to borrowers who are
Read More »Virginia Business Bank hires Davenport to examine strategic options
The bank planned on raising $6 million to $9 million last fall, but, given the economic climate, that has proved more difficult than expected. The company was only able to raise a fraction of
Read More »Three years for bank to become profitable
Pour a round of the good stuff. After three years in operation, Virginia Business Bank recorded its first quarterly profit in this year’s first quarter
Read More »Business loans harder to get
Bankers are taking longer to issue business loans and asking for more collateral when they do issue them, according to bankers around Richmond. Even companies with solid credit and long-established relationships are having more
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