Cordia Bancorp Inc (formerly trading as NCM:BVA) was a bank holding company for the Midlothian, VA-based Bank of Virginia. Before being acquired by First Citizens Bank, Cordia Bancorp operated six full-service banking branches around the Richmond, VA area. In addition, the bank operated student loan services at offices in Midlothian, VA and Washington, DC.[1][2]

1861 Bank of Virginia 1 dollar banknote; Images include four profiles of classical figures; a sailing vessel, a mill, and two women with an urn.; Inscription: "ACCORDING TO ACT OF ASSEMBLY THE PRESIDENT, DIRECTORS & CO. of the BANK OF VIRGINIA promise to pay ONE DOLLAR to the bearer on demand at their Banking house in ___ , __day of__".
1861 Bank of Virginia 1 dollar banknote

Bank of Virginia was charted in 1804.[3]

Acquisition by First Citizens Bank edit

On May 23, 2016, Cordia Bancorp and its subsidiary, Bank of Virginia, announced that First Citizens Bank would acquire them for $35 million at $5.15 per share in cash. With the acquisition, First Citizens Bank added six banks to its 550 nationwide branches.[1] Following the merge on September 1, 2016, the former branches were rebranded as First Citizen Bank branches.

References edit

Notes edit

  1. ^ a b Times-Dispatch, CAROL HAZARD Richmond. "Bank of Virginia merged into First Citizens". Richmond Times-Dispatch. Retrieved 2017-08-19.
  2. ^ "N.C. buyer snatches up Bank of Virginia". Richmond BizSense. 2016-05-23. Retrieved 2017-08-19.
  3. ^ Chapman & Westerfield 1980, p. 38

Bibliography edit