Purchase of Bank of Virginia almost complete

By Rachel DePompa - bio | email
Posted by Phil Riggan – email

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.

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