2014-02-12 / News Briefs

Village Bank cuts losses sharply in 2013

Michael Buettner

The parent company of the largest bank based in Chesterfield County cut its losses by more than half in 2013 as it continued its rebound from the nation’s worst real estate slump and banking industry downturn in decades.

Village Bank and Trust Financial Corp. reported last week that it lost $4.9 million, or $1.13 per share in 2013 compared with a loss of $11.3 million, or $2.65 per share, the year before. In the fourth quarter, the Midlothian-based company said, losses totaled $4 million, or 88 cents per share, compared with a profit of $835,000, or 20 cents per share, in the last quarter of 2012.

The company said it continued to make progress in eliminating problem loans and foreclosed real estate, with a 16 percent reduction in the fourth quarter.

In addition, the company said it expects to reduce operating costs by closing two branch offices, the Watkins Centre and Brandermill branches. Village Bank said both branches are located within 5 miles of at least two other Village Bank offices that serve the same markets.

The Watkins Centre branch located inside the company’s headquarters building will be converted to office space and leased to other businesses. The company plans to sell the Brandermill branch at 13521 Waterford Place to a non-bank business. Employees at those two offices are expected to be offered other positions within the company.

Elderly woman’s home invaded

Police are seeking two suspects in the invasion of the home of a 76-year-old Kingsland-area resident.

The Chesterfield County Police Department said Lucy Waller, 76, was alone at her home in the Treemont subdivision off Kingsland Road around 6:20 p.m. last Friday when she heard a noise at the door. When she opened the door, two men barged in and demanded her purse, then searched through her house.

The suspects eventually left without taking anything. Waller was uninjured in the incident.

The suspects are described as black males; further details were unavailable.

Anyone who has information is asked to call the Chesterfield County Police Department at 748-1251 or Crime Solvers at 748-0660, or text the code WATSON and send it to 274637 (CRIMES).

Suspects sought in credit union robbery

Police are asking for the public’s help tracking down two men who robbed a credit union on Jefferson Davis Highway last month.

According to police, two suspects entered the Argent Credit Union branch at 5403 Jefferson Davis Highway at about 1:15 p.m. on Jan. 29. The credit union is adjacent to DuPont’s Spruance Plant and was originally formed to serve that facility’s employees.

Police said each suspect approached a different teller and demanded money. Upon receiving cash, the suspects left the building and tried to flee in an unspecified vehicle. However, they were unable to get the car out of the parking lot because of icy conditions. The suspects abandoned the vehicle and fled on foot in the direction of Jefferson Davis Highway and Cogbill Road.

One suspect is described as a male, about 6 feet tall with a thin build. He was wearing a black polyester mask over his face, with no eye or mouth openings. He also wore a black hooded sweatshirt, black gloves, sagging black or dark-colored pants and light blue boxer shorts.

The other suspect is described as a black male, about 5 feet 9 inches tall with an average build and a light complexion. He was wearing a black hooded sweatshirt, dark jeans, a black beanie and a cloth covering his face.

Anyone who has information should contact the Chesterfield County Police Department at 748-1251 or Crime Solvers at 748-0660 or

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