Eastern Virginia Bankshares Sells 30% Stake

March 2013
American Banker;3/28/2013, Vol. 178 Issue 48, p4
Trade Publication
The article reports Eastern Virginia Bankshares will raise $50 million through a rights offering and a private placement of common and preferred stock. The article notes the institutional investors include affiliates of Castle Creek Capital Partners and GCP Capital Partners. It also notes the bank earned $2 million in 2012. A press release from the company's chief executive officer Joe Shearin is noted. The article also notes the bank will sell some of its nonperforming loans.


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