The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them
Deal would create 38th largest bank in U.S.
Henrico County-based Community Bankers Trust Corp., the parent company of Essex Bank, has entered into a $303.3 million deal to be acquired by Charleston, West Virginia-based United Bankshares Inc., United Bank’s parent. After the companies announced the agreement Thursday, Community Bankers Trust’s stock rose 29.78% as of mid-afternoon to $11.94 per share and United Bankshares’