Virginia Commerce Bancorp / VCBI

About Virginia Commerce Bancorp

5350 Lee Hwy., Arlington, Va. 22207
www.vcbonline.com | 703-534-0700 | Founded: 1988

Industry: Banking | Category: Banks

Virginia Commerce continued its pattern of rapid growth, focused strictly on Northern Virginia and buoyed by that area's strong economy. The bank recently signed leases for new branches in Leesburg and Ashburn, opened its first branch in Loudoun County (it already had a commercial lending office there), and plans additional branches in Prince William County.
Assets increased by 33 percent last year, approaching $1.52 billion at year-end, while deposits rose 28 percent and net income 38 percent.
The company intends to expand but to stay within Northern Virginia, where it sees ample opportunity.
The bank caters to a range of business customers, including firms that have contracts with the government, associations, retailers and industrial businesses. It offers commercial real estate and construction loans, as well as residential mortgages.

CEO: Peter A. Converse

2005 Financial Data

Net Income: $19,667,000
Asssets: $1,518,425,000 | Earnings Per Share: $1.31
Total employees: 232 | Local employees: 232