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Keeping watch
Banks, credit unions cautiously eye inflation, interest rates
The question of the quarter: Are we entering a recession? One key indicator of a future recession can be inflation, which hit a 40-year high this year. Between June 2021
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Money matters
TowneBank increases lead in market share
Published
For the most part, the most prominent banking institutions in Hampton Roads stayed the same in fiscal year 2021, with Suffolk-based TowneBank holding the top market share of 27.49% (up
ManTech stockholders approve $4.2B sale to Carlyle Group
Deal could close this week
Published
ManTech International Corp. stockholders have approved the Herndon-based tech contractor’s sale to The Carlyle Group for approximately $4.2 billion. Stockholders green-lighted the sale during a Sept. 7 special meeting, subject
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TowneBank names new CEO
Central Va./Carolinas President Billy Foster to succeed J. Morgan Davis
Published
Suffolk-based TowneBank announced Friday that William “Billy” I. Foster III will become CEO, succeeding J. Morgan Davis, who is retiring. Foster, the bank’s market president for Central Virginia and the
Chesterfield-based Paymerang expands to Wise County
Back-office fintech company's expansion to create 50 jobs
Published
Chesterfield County-based payment and invoice automation company Paymerang LLC will expand its operations to Southwest Virginia, creating 50 jobs in Wise, the company announced Thursday. The move follows a previous
TowneBank to acquire Farmers Bank
Deal valued at about $56M
Published
Suffolk-based TowneBank has agreed to acquire Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, the two companies announced Thursday. The deal is expected to close early next year.
PRA Group promotes exec to chief HR officer
LaTisha Tarrant starts new role Aug. 15
Published
Norfolk-based international debt acquisition company PRA Group Inc. has promoted executive LaTisha Tarrant to chief human resources officer. Tarrant will start her new role Aug. 15. She currently serves as
Va. Credit Union loses bid to expand membership
SCC rules VACU can't add 10K Medical Society of Va. members
Published
The Virginia State Corporation Commission ruled Wednesday that the Chesterfield County-based Virginia Credit Union cannot expand its membership to the Medical Society of Virginia, possibly resolving a three-year battle between
PRA Group hires communications exec
Giovanna Genard joins from ODU
Published
Norfolk-based PRA Group, a $1.1 billion debt-purchasing company, has hired Giovanna Genard as vice president of external affairs and marketing leader. Genard will develop and oversee PRA Group’s global external
First National Bank to expand in NoVa, Richmond
Adding four branches in Reston, Arlington
Published
FNB Corp., parent company of First National Bank, announced Wednesday it will expand its presence in Virginia, particularly in the Northern Virginia area. According to a news release, FNB expects