For both banks, the deal represents anew chapter for them on the Virginia banking scene.Ĭharles Johnston, Hampton Roads' chairman and interim CEO, saidthat the decision to complete a merger rather than an acquisition was based on thedesire for "collaborative decision making." To give both banks input,Johnston said that executives plan to leverage the strongest of both companies interms of people and business units. executives are calling theirdeal a merger rather than an acquisition. and Virginia Beach, Va.-based Hampton Roads Bankshares Inc. Richmond, Va.-based XenithBankshares Inc.
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