Investor May Buy Large Stake in Village Bank in Virginia
by Andy Peters
NOV 3, 2014 5:58pm ET
Community bank investor Kenneth Lehman is seeking regulatory approval to buy nearly half the shares in Village Bank & Trust Financial in Midlothian, Va.
Investor moves to pour major cash into Village Bank
October 22, 2014
Two years after a deal in Glen Allen, a Northern Virginia investor wants to buy a large chunk of another bank in the Richmond market.
Ken Lehman, a former SEC attorney who is known for buying into community banks, is looking to acquire a controlling interest in Midlothian-based Village Bank, according to a legal notice published this week.
Lehman intends to apply for permission with banking regulators to purchase 25 percent or more of the shares of Village Bank & Trust Financial Corp., the publicly traded holding company of Village Bank.
The move could provide Village with some needed capital as it looks to continue to carry out a turnaround plan aimed at fully shedding its lingering baggage from the downturn.
Details of Lehman’s full intentions are scant beyond the brief notice published by the Federal Reserve, which must approve his planned acquisition.