Blue Ridge Bank and FVCbank Terminate Merger Agreement
Blue Ridge Bankshares, the parent company of Blue Ridge Bank, and FVCBankcorp, the parent company of FVCbank, mutually agreed to terminate their merger agreement.
Blue Ridge Bankshares, the parent company of Blue Ridge Bank, and FVCBankcorp, the parent company of FVCbank, mutually agreed to terminate their merger agreement.
Since the merger of Blue Ridge Bank and FVCbank was announced in July, the Office of the Comptroller of the Currency has identified certain regulatory concerns with Blue Ridge Bank that could impact the application process and timing of the merger.
Blue Ridge Bankshares, the parent company of Blue Ridge Bank, and FVCBankcorp, the parent company of FVCbank, entered into a definitive agreement pursuant to which the companies will combine in an all-stock merger of equals.
FVCbank added three new lending experts, including in-house underwriters, to provide a turn-key lending experience supported by a team of branch operations and cash management bankers with deep experience in this industry.
FVCBankcorp agreed to acquire Colombo Bank in a cash and stock transaction valued at approximately $33.3 million.
Community bank veteran Jennifer L. Deacon joined FVCbank as executive vice president and chief financial officer.