Virginia Commerce Bancorp Inc. / VCBI

About Virginia Commerce Bancorp Inc.

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

Industry: Banking | Category: Top Financial Companies

Virginia Commerce continued to focus on growth, with assets climbing to more than $1.9 billion, up from $1.5 billion in 2005. The bank's focus continues to be Northern Virginia, but it is also expanding to the southern and western parts of the state.
The bank plans to open five branches this year, including its first locations in Loudoun County and in Fredericksburg.
In addition to strong growth in assets last year despite a challenging and highly competitive market, the bank's deposits grew 29 percent, to $1.6 billion, and its profit grew more than 24 percent, to $24.5 million.
The company intends to expand 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

2007 Financial Data

Total employees: 286 | Local employees: 284