The merger is another example of a long-running trend of older, smaller credit unions looking to be merged into larger peers.
Banking
Midlothian, New Kent branches among 8 locations closed by Primis Bank
They were part of a round of closures of eight of the bank’s 32 branches that occurred Oct. 31, leaving Primis with 24 branches and expected to save the bank millions per year.
Last year’s top RVA 25 company keeps M&A deals flowing
Looking ahead to the unveiling next month of this year’s RVA 25 rankings, BizSense checked in with Sterling Point Advisors, which turned heads atop last year’s list with whopping 15,000 percent growth rate.
Year-old Richmond investment advisory firm expands to Atlanta
The firm, launched by a group that broke away from a local bank, is already on the move and has additional expansion in mind.
Local bank deposits fell by nearly $3B over past 12 months
Of the 27 banks with a retail presence in the local market, 16 reported a decline in deposits in their Richmond-area locations over the last year.
Longtime Richmond wealth advisor makes first acquisition with deal for C’ville firm
“Charlottesville is very attractive. It allows us to springboard into Roanoke and southwest Virginia very easily,” Dee Ann Remo said of one of the drivers of the deal.
New-to-market bank follows Shake Shack into renewed Willow Place
A $45 billion Pennsylvania-based bank, is the latest big name to sign on at the shopping center, which is under redevelopment at the hands of owner Sauer Properties.
Two local credit unions merge, forming $500M institution
The deal combines Partners Financial FCU’s $93.7 million in assets and 7,900 members with that of Argent CU, which has $426 million in assets and 28,000 members.
Atlantic Union Bank unloads dozens of branches in $45M sale/leaseback deal
Richmond’s biggest bank has lightened its load as a landlord and brought in some extra capital as a result.
Sponsored Content: Fulton Bank Launches Diverse Business Banking Program in Virginia
Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), recently celebrated the launch of its new Diverse Business Banking program in the Virginia market at Virginia Union University in Richmond. Fulton Bank employees, industry professionals and community leaders gathered for networking and to learn more about the program. A group of panelists spoke… Read more »