Eastern Virginia Bankshares, Inc. operates as a bank holding company for EVB, a community bank that provides various personal and commercial banking services to individuals and small to medium-sized businesses. EVB is a community bank targeting small to medium-sized businesses and consumers in traditional coastal plain markets and the emerging suburbs outside of the Richmond, Tidewater, and southern Virginia areas. The company operates 24 full service branches and 2 drive-in facilities in eastern Virginia, and 1 loan production office in Chesterfield County, Virginia. The company provides a range of personal and commercial banking services, including commercial, consumer and real estate loans. The company complements its lending operations with an array of retail and commercial deposit products and fee-based services. The bank owns EVB Financial Services, Inc., which in turn has a 100% ownership interest in EVB Investments, Inc. EVB Investments, Inc. is a full-service brokerage firm offering a range of investment services. In addition, the company provides Southern Trust Mortgage, LLC with offices at five retail branches in the company’s market area and access to office equipment at these locations during normal business hours. Loans The company offers an array 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, 2014, 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. Regulations As a public company, the company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the Exchange Act). As a result, the company must file annual, quarterly, and other reports with the Securities and Exchange Commission (the SEC), and also comply with other laws and regulations of the Securities and Exchange Commission (SEC) applicable to public companies. As a bank holding company, the company is also subject to the Bank Holding Company Act of 1956 (the BHCA) and supervision and regulation by the Board of Governors of the Federal Reserve System (the Federal Reserve Board). The company also is subject to regulation and supervision by the Virginia State Corporation Commission Bureau of Financial Institutions (the Bureau). The bank, as a state-chartered member bank of the Federal Reserve System, is subject to regulation and examination by the Bureau and the Federal Reserve Board. In addition, the bank is subject to the rules and regulations of the Federal Deposit Insurance Corporation (FDIC), which insures substantially all of the bank’s deposits up to applicable limits of the Deposit Insurance Fund (DIF), and is subject to deposit insurance assessments to maintain the DIF. History Eastern Virginia Bankshares, Inc. was founded in 1910.
eastern virginia bankshares
(EVBS:Consolidated Issue Listed on NASDAQ Global Select )
330 Hospital Road
Tappahannock, VA 22560
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To contact EASTERN VIRGINIA BANKSHARES, please visit www.evb.org. Company data is provided by Capital IQ. Please use this form to report any data issues.