Eastern Virginia Bankshares, Inc. operates as the bank holding company for EVB that offers community banking services. The company conducts business through 21 full service branches and 2 drive-in facilities, primarily in the eastern portion of the state. The bank owns EVB Financial Services, Inc., which in turn has a 100% ownership interest in EVB Investments, Inc. The company provides Southern Trust Mortgage, LLC with offices at five retail branches in its market area and access to office equipment at those locations during normal working hours. The bank has a 2.33% ownership in Bankers Insurance, LLC, which primarily sells insurance products to customers of the bank, and other financial institutions that have an equity interest in the agency. The bank also has a 100% ownership interest in Dunston Hall LLC, POS LLC, Tartan Holdings LLC and ECU-RE LLC. The company also owns one non-operating subsidiary, EVB Statutory Trust I. Loans The company provides a range of personal and commercial banking services, including commercial, consumer and real estate loans. It primarily offers a range of lending and credit services to customers, including mortgage, commercial and consumer loans. A substantial portion of the loan portfolio is represented by commercial and residential mortgage loans in its market area. Investment Securities As of December 31, 2013, the company’s investment portfolio included obligations of U.S. government agencies; SBA pool securities; agency mortgage-backed securities; agency CMO securities; non agency CMO securities; state and political subdivisions; pooled trust preferred securities; FNMA and FHLMC preferred stock; and corporate securities. Deposits The company’s deposit base, which is provided by individuals and businesses located within the communities served, consists of demand deposits, savings and money market accounts, and time deposits. Regulation and Supervision As a public company, the company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. As a result, the company must file annual, quarterly, current and other reports with the Securities and Exchange Commission (the SEC), and also comply with other laws and regulations of the SEC applicable to public companies. As a bank holding company, the company is also subject to the Bank Holding Company Act of 1956 and supervision and regulation by the Board of Governors of the Federal Reserve System (the Federal Reserve Board). Each of the bank’s depository accounts is insured by the Federal Deposit Insurance Corporation (the FDIC) against loss to the depositor to the maximum extent permitted by applicable law, and federal law and regulatory policy impose various obligations and restrictions on the company and the bank to reduce potential loss exposure to the depositors and to the FDIC insurance funds. The company also is subject to regulation and supervision by the Bureau. History Eastern Virginia Bankshares, Inc. was founded in 1910.
eastern virginia bankshares
330 Hospital Road
Tappahannock, VA 22560
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