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Xenith Bankshares completes CVB account conversion

Xenith Bankshares, Inc., recently announced that during the third quarter of 2014 it completed the conversion of Colonial Virginia Bank systems and customers’ accounts.

On June 30, Xenith completed the previously announced merger of Gloucester-based CVB with and into Xenith Bank, said Thomas W. Osgood, executive vice president and chief financial officer. Xenith Bank became the surviving bank of that merger.

“We are pleased to welcome the customers of CVB and look forward to serving the Gloucester market,” said T. Gaylon Layfield III, president and chief executive officer of Xenith.

Osgood said that Xenith recorded net income of $657,000, or 5 cents per common share, in third quarter 2014, compared to net income of $748,000, or 7 cents/share, in the third quarter of 2013.

For the first nine months of 2014, Osgood said, net income was $707,000, or 6 cents/share, compared to $1.7 million, or 16 cents/share, for the first nine months of last year. Other sectors of th...

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