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Business shorts
Business shorts
Date published: 4/4/2009 By Bill Freehling Credit is available Customers of the Northern Neck, Northern Virginia and Rappahannock electric cooperatives who want to make their homes more energy efficient have access to a new financing program. The Electric Cooperatives of Virginia, Maryland and Delaware and the Farm Credit Associations that serve those states have joined together to help consumers make their homes and farms more energy efficient. Members of these cooperatives are now eligible to apply for such loans from their local Farm Credit office. The loans can be used for a variety of projects and purposes including upgrading windows and doors, adding insulation, replacing heating/air conditioning systems and appliances with more efficient models, as well as many other similar projects. Colonial Farm Credit, Farm Credit of the Virginias, and MidAtlantic Farm Credit are all participating in the program. For more information, contact any participating electric cooperative or Farm Credit office. --Bill Freehling Eastern Virginia Bank announces a merger The Tappahannock-based Eastern Virginia Bankshares Inc. and First Capital Bancorp are merging, the companies announced yesterday. First Capital common stockholders will receive 0.98 shares of Eastern Virginia for each of their shares in First Capital, valued at about $27 million. Eastern Virginia is the parent company of EVB and has more than $1 billion in assets. It operates 25 branches throughout the Northern Neck, Middle Peninsula and Central Virginia. First Capital has more than $460 million in assets and has seven branches in the greater Richmond market. The name of the holding company and the bank will be determined at a later date. The bank's headquarters will be in the greater Richmond area, and the company's operations center will be in Tappahannock. --Bill Freehling
Date published: 4/4/2009
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