Colonial Va Bk (CNVB) 17.0000 $CNVB
Xenith Bankshares, Inc. Announces Completion of Colonial Virginia Bank Acquisition
GlobeNewswire - Tue Jul 01, 7:11AM CDT
Xenith Bankshares, Inc. (Nasdaq:XBKS), parent company of Xenith Bank, today announced the completion of its acquisition of Colonial Virginia Bank ("CVB"
, whereby CVB was merged with and into Xenith Bank. Xenith Bank will continue to operate CVB's two full-service banking offices in Gloucester, Virginia, and one loan production office in Yorktown, Virginia. Today, all CVB customers become customers of Xenith Bank; however, the CVB branches will continue to operate under the name Colonial Virginia Bank for an undetermined period of time.
Xenith Bankshares, Inc. and Gloucester-Based Colonial Virginia Bank Announce Merger Agreement
GlobeNewswire - Fri Mar 21, 7:10AM CDT
Xenith Bankshares, Inc. (Nasdaq:XBKS), parent company to Xenith Bank, and Colonial Virginia Bank ("CVB" today announced the signing of a definitive merger agreement, whereby CVB will be merged with and into Xenith Bank. CVB operates two full-service branches in the Gloucester, Virginia area and one loan production office in Yorktown, Virginia. As of June 30, 2013, CVB had the largest share of deposits in Gloucester County, Virginia according to the Federal Deposit Insurance Corporation. As of December 31, 2013, CVB reported total assets of $114.9 million, net loans of $71.4 million, total deposits of $99.5 million and equity of $12.1 million.
Colonial Virginia Bank Announces Restated 2013 Earnings
GlobeNewswire - Fri Feb 21, 3:51PM CST
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank" , today reported restated results of operations for the fiscal year ended December 31, 2013, which reflected record pre-tax earnings of $742,181, compared to $862,279 before restatement and compared to $285,731 in 2012. Net after-tax earnings were $544,054 for 2013, compared to $623,319 before restatement and compared to net after-tax earnings of $255,007 in 2012. On a per share basis, 2013 reflected earnings on a fully diluted basis of $0.89 per share, compared to $0.42 per share in 2012. The restatement is being issued in connection with a required adjustment to pension expense of $120,098 before taxes and $79,265, net of taxes, for 2013. Even after the adjustment, net after-tax earnings represented the Bank's 2 highest after-tax performance in the Bank's ten year history. It is important to note that the highest year's performance was early in the Bank's history (2006) where net after-tax earnings totaled $568,594 and included a tax credit of $206,008. Therefore, the Bank considers the performance of 2013 to be a banner year.
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PR Newswire - Thu Feb 13, 10:09AM CST
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Colonial Virginia Bank Announces 2013 Earnings
GlobeNewswire - Wed Feb 12, 2:49PM CST
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank" , today reported results of operations for the fiscal year ended December 31, 2013, which reflected record earnings with net income after taxes of $623,319, compared to net after tax earnings of $255,007 in 2012. Pre-tax earnings were $862,279 for 2013, compared to pre-tax earnings of $285,731 in 2012. On a per share basis, 2013 reflected earnings on a fully diluted basis of $1.02 per share, compared to $0.42 per share in 2012.
Colonial Virginia Bank Announces 2nd Quarter 2013 Earnings
GlobeNewswire - Wed Jul 31, 3:41PM CDT
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank" , today reported net income before taxes of $161,622 and $121,452 after taxes, or $0.20 per share assuming dilution, for the quarter ended June 30, 2013, compared to pre-tax net income of $254,954 and $183,734 after taxes, or $0.30 per share assuming dilution, for the same period in 2012. Return on average assets ("ROA" was 0.44% (annualized) for the current quarter compared to 0.61% for the quarter ended June 30, 2012, while return on average equity ("ROE" was 4.26% and 6.58%, respectively, for the same periods. Equally noteworthy to the year over year quarterly comparisons are those for the previous quarter ended March 31, 2013. The first quarter 2013 reflected net income before and after tax of $232,606 and $164,506, respectively. The March 31, 2013 per share earnings were $0.27 with corresponding ROA and ROE of 0.59% and 5.79%, respectively.
Colonial Virginia Bank Announces 1st Quarter 2013 Operating Results
PR Newswire - Mon Apr 29, 4:53PM CDT
Colonial Virginia Bank (OTCBB: CNVB) ("the Bank" , today reported net income of 164,506 after taxes, or $0.27 per share, for the quarter ended March 31, 2013, compared to a net loss of ($151,978), or ($0.25) per share assuming dilution, for the same period in 2012. Pre-tax results were $232,606 for the current quarter compared to a net loss of ($248,978) for the same period in 2012. Return on average assets ("ROAA" improved to 0.59% for the current quarter compared to (0.46%) for March 31, 2012. The current quarter also compared favorably to the quarter-ended December 31, 2012, which reflected after tax net income of $122,654, or $0.20 per share and 0.43% ROAA. Earnings performance from core operations has begun to reflect improved stability after several quarters of volatile effects of the economic debacle of the past few years. The improvement is the result of the management and resolution of many problem loans after the years of economic collapse.
Xenith Bankshares, Inc. Announces Completion of Colonial Virginia Bank Acquisition
GlobeNewswire - Tue Jul 01, 7:11AM CDT
Xenith Bankshares, Inc. (Nasdaq:XBKS), parent company of Xenith Bank, today announced the completion of its acquisition of Colonial Virginia Bank ("CVB"
, whereby CVB was merged with and into Xenith Bank. Xenith Bank will continue to operate CVB's two full-service banking offices in Gloucester, Virginia, and one loan production office in Yorktown, Virginia. Today, all CVB customers become customers of Xenith Bank; however, the CVB branches will continue to operate under the name Colonial Virginia Bank for an undetermined period of time. Xenith Bankshares, Inc. and Gloucester-Based Colonial Virginia Bank Announce Merger Agreement
GlobeNewswire - Fri Mar 21, 7:10AM CDT
Xenith Bankshares, Inc. (Nasdaq:XBKS), parent company to Xenith Bank, and Colonial Virginia Bank ("CVB"
today announced the signing of a definitive merger agreement, whereby CVB will be merged with and into Xenith Bank. CVB operates two full-service branches in the Gloucester, Virginia area and one loan production office in Yorktown, Virginia. As of June 30, 2013, CVB had the largest share of deposits in Gloucester County, Virginia according to the Federal Deposit Insurance Corporation. As of December 31, 2013, CVB reported total assets of $114.9 million, net loans of $71.4 million, total deposits of $99.5 million and equity of $12.1 million. Colonial Virginia Bank Announces Restated 2013 Earnings
GlobeNewswire - Fri Feb 21, 3:51PM CST
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank"
, today reported restated results of operations for the fiscal year ended December 31, 2013, which reflected record pre-tax earnings of $742,181, compared to $862,279 before restatement and compared to $285,731 in 2012. Net after-tax earnings were $544,054 for 2013, compared to $623,319 before restatement and compared to net after-tax earnings of $255,007 in 2012. On a per share basis, 2013 reflected earnings on a fully diluted basis of $0.89 per share, compared to $0.42 per share in 2012. The restatement is being issued in connection with a required adjustment to pension expense of $120,098 before taxes and $79,265, net of taxes, for 2013. Even after the adjustment, net after-tax earnings represented the Bank's 2 highest after-tax performance in the Bank's ten year history. It is important to note that the highest year's performance was early in the Bank's history (2006) where net after-tax earnings totaled $568,594 and included a tax credit of $206,008. Therefore, the Bank considers the performance of 2013 to be a banner year. Central and Eastern Europe OTC Drugs Industry Outlook to 2017- Expanding Access to Distribution Channels to Lead Sales Growth
PR Newswire - Thu Feb 13, 10:09AM CST
Reportlinker.com announces that a new market research report is available in its catalogue:
Colonial Virginia Bank Announces 2013 Earnings
GlobeNewswire - Wed Feb 12, 2:49PM CST
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank"
, today reported results of operations for the fiscal year ended December 31, 2013, which reflected record earnings with net income after taxes of $623,319, compared to net after tax earnings of $255,007 in 2012. Pre-tax earnings were $862,279 for 2013, compared to pre-tax earnings of $285,731 in 2012. On a per share basis, 2013 reflected earnings on a fully diluted basis of $1.02 per share, compared to $0.42 per share in 2012. Colonial Virginia Bank Announces 2nd Quarter 2013 Earnings
GlobeNewswire - Wed Jul 31, 3:41PM CDT
Colonial Virginia Bank (OTCBB:CNVB) ("the Bank"
, today reported net income before taxes of $161,622 and $121,452 after taxes, or $0.20 per share assuming dilution, for the quarter ended June 30, 2013, compared to pre-tax net income of $254,954 and $183,734 after taxes, or $0.30 per share assuming dilution, for the same period in 2012. Return on average assets ("ROA" was 0.44% (annualized) for the current quarter compared to 0.61% for the quarter ended June 30, 2012, while return on average equity ("ROE" was 4.26% and 6.58%, respectively, for the same periods. Equally noteworthy to the year over year quarterly comparisons are those for the previous quarter ended March 31, 2013. The first quarter 2013 reflected net income before and after tax of $232,606 and $164,506, respectively. The March 31, 2013 per share earnings were $0.27 with corresponding ROA and ROE of 0.59% and 5.79%, respectively. Colonial Virginia Bank Announces 1st Quarter 2013 Operating Results
PR Newswire - Mon Apr 29, 4:53PM CDT
Colonial Virginia Bank (OTCBB: CNVB) ("the Bank"
, today reported net income of 164,506 after taxes, or $0.27 per share, for the quarter ended March 31, 2013, compared to a net loss of ($151,978), or ($0.25) per share assuming dilution, for the same period in 2012. Pre-tax results were $232,606 for the current quarter compared to a net loss of ($248,978) for the same period in 2012. Return on average assets ("ROAA" improved to 0.59% for the current quarter compared to (0.46%) for March 31, 2012. The current quarter also compared favorably to the quarter-ended December 31, 2012, which reflected after tax net income of $122,654, or $0.20 per share and 0.43% ROAA. Earnings performance from core operations has begun to reflect improved stability after several quarters of volatile effects of the economic debacle of the past few years. The improvement is the result of the management and resolution of many problem loans after the years of economic collapse. 
