Bank of Lancaster entering the Richmond market

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The Kilmarnock-based Bank of Lancaster plans to open its first office in the Richmond area by the end of the month.

The bank, a subsidiary of Bay Banks of Virginia Inc., will open a loan production and wealth management office, a first step toward setting up a full-service bank branch.

In a statement, Randal R. Greene, the president and CEO of Bank of Lancaster and Bay Banks, said many existing customers are Richmond-area residents with second homes in the Northern Neck.

He said the bank’s long-term goal “is to create a strong, regional community bank franchise by growing in contiguous markets, and with a significant presence in Richmond — a key financial market in Virginia."
F. Arnold Blackmon III was appointed regional president for the Richmond market.

Blackmon was executive vice president and director of the commercial real estate group with StellarOne in Richmond.

Bank of Lancaster currently has offices in Burgess, Callao, Colonial Beach, Kilmarnock, Montross, Warsaw and White Stone on the Northern Neck as well as a loan production office in Middlesex County.

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