Blue Ridge Bankshares Inc. announced Thursday it has entered into an all-stock deal to acquire FVCBankcorp Inc. of Fairfax, Va. The deal is projected to close in late 2021 or early 2022.
Blue Ridge, currently based in Charlottesville, Va., has banking operations in Greensboro and a mortgage office in Raleigh and Wilmington.
The combination is projected to create the fourth-largest community bank based in Virginia. Blue Ridge said that post-merger it will move its headquarters to Fairfax, Va. Blue Ridge shareholders would own 52.5% of the combined bank.
David Pijor, FVCBancorp’s chairman and chief executive, would serve as executive chairman, while Brian Plum, Blue Ridge’s chief executive, will serve as chief executive of the combined bank.
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