Merger Between Virginia Bank and Mortgage Lender Ends

Aug 14, 2018

New York City-based SLK Global Solutions, a business process transformation enterprise provider, has named Nate Johnson as its new senior vice president-mortgage business leader

Atlantic Bay Mortgage Group and Virginia Community Bank have announced that they are withdrawing merger application from the Federal Deposit Insurance Corp. and the Virginia Bureau of Financial Institutions.

The two financial institutions stated that more than a year has passed since they began the formal merger process, but it was still unclear on how long it would take them to conclude the transaction. As a result, the Louisa, Va.-based bank and the Virginia Beach-headquartered mortgage company have decided that a merger was no longer in their best interest.

"While this process has been an arduous one, we certainly value the relationships we have built with Virginia Community Bank through this process," said Brian Holland, CEO at Atlantic Bay Mortgage Group.

About the author

Phil Hall

Link copied

Published

Aug 14, 2018

Regulation and Compliance

President Trump ‘Giving Very Serious Consideration’ To Re-Privatizing Fannie And Freddie

President indicates the time ‘would seem to be right,’ says he’ll make a decision ‘in the near future’

In a post on Truth Social Wednesday evening, May 21, President Donald J. Trump said he’s giving very serious consideration to re-privatizing the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, noting he plans to make a decision on the matter “in the near ...

People On The Move

Brandy Walton Advanced To COO Of GVC Mortgage

Promotion came after mortgage industry exec spent a year developing strategic initiatives for the lender

GVC Mortgage, Inc., a family-owned mortgage lender offering various loan programs including conventional, FHA, USDA, and VA loans, promoted Brandy Walton to chief operating officer. Since June 2024, she has served as the company’s vice president of business initiatives. “...