RICHMOND, VA (WWBT) - The purchase of Bank of Virginia is almost complete. Cordia Bancorp announced this week it has received federal and state regulatory approval to acquire a majority interest in the company.
Bank of Virginia has five branches in the greater Richmond area and employs 58 people.
The deal is said to be worth about $10 million and will close in the near future.
Cordia says it wants to establish its headquarters in Richmond and its goal is to improve the bank's earnings and to expand.