Eastern Virginia Bankshares, Inc. · Tappahannock, VA United States ·(NASDAQ (GM): EVBS)
Company Description
View Eastern Virginia Bankshares, Inc. Locations On A US Map
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This link will open in a new window Founded in 1997, Eastern Virginia Bankshares is the holding company for EVB, a community bank that operates more than 20 branches in -- believe it or not -- eastern Virginia. Targeting individuals and local business customers, the bank offers such standard retail services as checking and savings accounts, money market accounts, CDs, IRAs, and online banking. Residential mortgages make up more than 40% of the the company's loan portfolio, which also includes commercial real estate, construction, business, and consumer loans. Subsidiary EVB Financial Services owns interests in companies that offer investment and insurance products. To read the full description, subscribe now.
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Key Eastern Virginia Bankshares, Inc. Financials
| Company Type | Public - NASDAQ (GM): EVBS Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $35.5 |
| 2008 Employees | 317 |
Eastern Virginia Bankshares, Inc. Executives
18 executives listed for Eastern Virginia Bankshares, Inc.'s Tappahannock, VA location.
| Title | Name & Bio | Contact |
| Chairman; Chairman, EVB | W. Rand Cook | Network |
| Vice Chairman; Vice Chairman, EVB | F. L Garrett | Network |
| President, CEO, and Director, Eastern Virginia Bankshares; President, CEO, and Director, EVB | Joe Shearin | Network |
Competition
Competitive Landscape for Eastern Virginia Bankshares, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Eastern Virginia Bankshares, Inc. Competitors
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