VIRGINIA BUSINESS BANK Failed 2011

RICHMOND, VA · State commercial bank, Federal Reserve member · view on FDIC BankFind ↗

What happened

VIRGINIA BUSINESS BANK of RICHMOND, VA was closed on 2011-07-29. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to XENITH BANK (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3951
FDIC Certificate
58283
FDIC FIN
10385
Bank name
VIRGINIA BUSINESS BANK
Location
RICHMOND, VA
Failure date
2011-07-29
FDIC resolution date
2011-07-29
Charter type
State commercial bank, Federal Reserve member
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$20M
Deposits at failure
$73M
Assets at failure
$83M
Acquiring bank
XENITH BANK (RICHMOND, VA)