Super Lawyers
The top Attorneys in Virginia and
the Washington, D.C. metropolitan
area, only 5% of the attorneys
in the state are named in SuperLawyers
ATA NBTA | The National Board of Trial Advocacy Association of Trial Lawyers of America Virginia Trial Lawyers Association

Recently merged Virginia banks complete operational changes

Final changes have been made at two recently merged Virginia banks, allowing them to begin operating as one. In late March, C&F Financial Corp., the holding company for C&F Bank, announced that Central Virginia Bank will now begin operating as C&F Bank. Central Virginia Bank was acquired in October 2013, but the banks operated separately until March, according to company officials. The completion of the merger adds seven branches to the C&F operations for a total of 25.

Central Virginia Bank had been under pressure to improve its financial condition and was operating under an agreement with federal and state regulators, which will be terminated as a result of the merger. The bank had previously cut staff and outsourced some of its operations in order to save money. Most of the 80 Central Virginia Bank employees will be retained, according to bank officials, although some left on their own. At least one senior official at CVB will transition over to C&F Bank.

As a result of the completed merger, C&F Bank will have over $1.3 billion in total assets and will operate branches in the general areas of Powhatan and Richmond, as well as along portions of Interstate 64. Bank officials say they are pleased with the reception they have received from former CVB customers. C&F Bank is owned by C&F Financial Corp which was founded in West Point in 1927, making it one of the oldest banks of its kind in Virginia.

Many commercial business transactions are complex, especially if they are subject to federal and state oversight, as was the case in the bank merger. Companies that rely on various agreements and contracts may want to consider using the services of an attorney to make sure their business interests are protected.

Source: Times Dispatch, "Central Virginia Bank merged into C&F Bank", Carol Hazard, March 25, 2014

No Comments

Leave a comment
Comment Information

DISCLAIMER: This website is designed to provide only general information; nothing contained herein constitutes legal advice nor is it an offer of legal representation. Use of this website is not intended in any way to create or convey the impression that such use of the website by any person, organization, or entity of any nature and/or kind constitutes any attorney-client relationship whatsoever and any information provided in this website shall not constitute legal advice. The use of any electronic communication available through this website with the Law Office of Richard L. Downey or any person associated with this website shall not constitute attorney-client relationship nor will any communication received by the Law Office of Richard L. Downey constitute an attorney-client communication. The Law Office of Richard L. Downey cannot make any guarantees as to the accuracy or currency of any information contained in or created in this website or the use of any link to another website contained in this website. The information that you obtain at this website is not, nor is it intended to be legal advice. You should consult a lawyer for individual advice concerning your own particular situation.

*The National Board of Trial Advocacy is accredited by the American Bar Association. Currently there is no procedure in the Commonwealth of Virginia for approving certifying organizations.