Deal to combine Tennessee banks will ripple into Richmond
April 15, 2021
The SmartBank brand is expected to eventually show up in Richmond as the bank expands with new branches. (
Images courtesy of SmartBank)
Four months after arriving in Richmond, a small Tennessee-based bank from Dolly Parton’s home town has struck a deal that it says will help it expand its reach locally.
Sevier County Bank, which expanded into Richmond last fall as Southern Community Bank, is set to be acquired by SmartBank, a much larger competitor from its home state.
While the bulk of both banks’ assets and presence is in Tennessee, John Presley, a longtime Richmond banker who serves as SCB’s executive chairman, said the deal will accelerate the growth SCB had planned for Richmond.
Longtime local bank CEO quitting after merger with Charlottesville bank
February 25, 2021
Randy Greene is the former CEO of Virginia Commonwealth Bank, which merged into Blue Ridge Bank on Jan. 31.
Randy Greene’s marriage with Blue Ridge Bank didn’t last long.
The CEO of Richmond-based Virginia Commonwealth Bank, which was merged into Blue Ridge on Jan. 31, turned in his resignation letter Feb. 9, barely a week after the deal was consummated.
As part of the merger Greene was tapped to serve as president and COO of Blue Ridge parent company Blue Ridge Bankshares, as well as president and CEO of the bank itself. He’ll step down from those roles as well give up his seat on the board.
Financial firm leaves Reynolds Crossing for Westhampton on Grove
Photos courtesy of Blue Edge Capital)
Left vacant after a local bank merger, an office in the Westhampton neighborhood was snatched up quick by a West End investment management firm.
Blue Edge Capital recently took up residence at 5706 Grove Ave., suite 202, in the Westhampton on Grove development.
The 10-year-old firm moved in last month, marking the end of its decade-long run at 6641 W. Broad St. in Reynolds Crossing.
Peter Bowles
Co-founder and managing director Peter Bowles said the firm was in need of extra space and a more convenient location for its clients. It jumped up to 3,000 square feet on Grove from 2,200 in Reynolds Crossing.
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CHARLOTTESVILLE, Va. and RICHMOND, Va., Feb. 1, 2021 /PRNewswire/ Blue Ridge Bankshares, Inc. (NYSE American: BRBS) ( Blue Ridge ), the parent holding company of Blue Ridge Bank, National Association, today announced the completion of the merger of Bay Banks of Virginia, Inc. (OTC: BAYK) ( Bay Banks ), the parent holding company of Virginia Commonwealth Bank, into Blue Ridge. Following completion of the merger, Virginia Commonwealth Bank was merged into Blue Ridge Bank. The former Virginia Commonwealth Bank branches assumed in the merger will continue to operate under the name Virginia Commonwealth Bank, a division of Blue Ridge Bank, until systems are converted in May 2021.