Welcome to the bank you have always wanted to do business with... and the bank we have always wanted to work for.
At Xenith Bank, our unique name reflects our aspirations -
We strive to help you and your business achieve the pinnacle of success.
We accomplish this by expertly crafting thoughtful, relevant and timely banking solutions.
At Xenith Bank, our focus is on delivering superior banking services in the state of Virginia to the following market segments:
- Middle-market commercial customers (sales up to $250 million),
- Mid-size real estate developers and investors,
- Private banking customers (assets in excess of $2 million), and
- Select retail markets.
It is our intent to make every customer a fan!
Our objective is to open the bank with $70-100 million of capital. Significant progress towards this objective is highlighted by a $35 million commitment from a private equity firm, BankCap Partners, and a $4 million commitment from the Board and Management of Xenith.
When we began our efforts to open Xenith Bank in mid-2008, we were initially planning to open as a de novo (newly-chartered) institution. However, as the macro-economic and bank regulatory environment changed dramatically during the year, we modified our approach. With turbulent capital markets and the change in bank valuations, we shifted our focus towards partnering with an existing, healthy Virginia bank that shared our vision. This approach helps us with our launch; it also increases our capital base and provides a source of core deposits as well.
Accordingly, on May 12, 2009, we were pleased to announce that we had signed a Merger Agreement with First Bankshares, Inc., of Suffolk, Virginia. First Bankshares is the holding company for SuffolkFirst Bank. Our new partner not only shares our vision but also brings strong management and impressive market share in the Suffolk area of Hampton Roads.
Our
Press Release contains more information related to the Merger.
We invite you to explore this site and learn more about Xenith Bank.
