A mortgage company out of Virginia has negotiated an all-stock acquisition where its chief executive officer will become chairman of a bank-holding company.
Atlantic Bay Mortgage Group LLC was founded in 1996 by its CEO, Brian Holland. The business has grown to more than 120 locations.
On Tuesday, an announcement from Virginia Community Bank indicated that it has agreed to merge with Virginia Beach, Virginia-based Atlantic Bay’s holding company.
Source: Mortgage Daily
