Posts Tagged ‘Mechanics Bank’
Imminent sale of longtime Richmond bank brings windfall to owners, but impact on jobs unknown
Mechanics Bank, a Richmond institution with a 109 year history is being sold to Ford Financial Fund, private equity firm from Texas, that specializes in buying and consolidating banks and selling them for profit. While stakeholders stand to make a windfall, some customers are taking their business elsewhere.
Read MoreRichmond history exhibit glimpses what might have been – what may still be
The event, replete with showy performances, marked the 96th anniversary of “Richmond Day,” which was held Aug. 7, 1915 at the Panama Pacific International Exposition in San Francisco.
Read MoreThe Mechanics Bank, a history shared with Richmond
The life, survival and success of the Mechanics Bank is closely tied to the history of Richmond, its hometown. It’s Richmond’s oldest bank and the only one currently headquartered in this city.
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