Bank of Virginia (BOVA)

Bank of Virginia provides commercial and retail banking services to small- to medium-sized businesses, professional concerns, and individuals in Chesterfield and Henrico Counties in Virginia. It offers a range of deposit services, including interest-bearing and non interest-bearing checking accounts, commercial accounts, savings accounts, individual retirement accounts, daily money market accounts, longer-term certificates of deposit, and other time deposits. The companys loan portfolio consists of commercial real estate loans, construction and development loans, residential real estate loans secured by first or second mortgages, commercial loans, and consumer loans, such as secured and unsecured installment loans, revolving lines of credit, and home equity loans. In addition, it offers other banking services, including safe deposit boxes, cashiers checks, banking by mail, direct deposit of payroll and social security checks, the U.S. Savings Bonds, and travelers checks. As of December 31, 2008, Bank of Virginia operated five branch offices. The company was formerly known as The Community Bank of Virginia and changed its name to Bank of Virginia in October 2003. Bank of Virginia was founded in 2002 and is headquartered in Midlothian, Virginia.