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Eastern Virginia Bankshares (EVBS) in Tappahannock plans to raise $50 million through a private placement and a rights offering.
March 27 -
Eastern Virginia Bancshares (EVBS) has closed a $5 million rights offering. The offering followed a $45 million private placement announced in March, in which the company sold a 30% stake to institutional investors.
July 2
The Federal Reserve Board has terminated an enforcement action against Eastern Virginia Bancshares in Tappahannock and has fined Blencoe State Bank in Iowa.
The Fed announced the termination of its
The $1.1 billion-asset Eastern Virginia has raised $50 million in the past several months in order to shed the regulatory action, dispose of problem assets and restructure $117.5 million of Federal Home Loan bank advances. It
EVB had a Tier 1 leverage ratio of 7.48% and total risk-based capital of 13.14% at the end of June, according to the Federal Deposit Insurance Corp.
The Fed also announced Thursday that on July 30 it