TowneBank to Acquire Village Bank, Boost Richmond MSA Presence

Written by Emily J. Thompson, Senior Investment Analyst

VBFC%

CAC-0.81%

TOWN-0.68%

Source: NASDAQ.COM

Updated: Sep 25 2024

0mins

Source: NASDAQ.COM

TowneBank Acquisition: TowneBank has agreed to acquire Village Bank and Trust Financial Corp. for $120 million in an all-cash deal, with plans to complete the merger by mid-2025, pending regulatory and shareholder approvals.
Strategic Growth: The acquisition is expected to enhance TowneBank's presence in Richmond, improve its financial metrics, and align with its growth strategy, following previous acquisitions in recent years.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

TowneBank to Acquire Village Bank, Boost Richmond MSA Presence

About the author

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