Virginia Lenders Announce Merger

Hampton Roads, Va.-based TowneBank has announced that its mortgage division has merged with Richmond, Va.-based Benchmark Mortgage Co., which provides services in Virginia and North Carolina markets.

Under terms of the agreement, Benchmark will combine its operations with TowneBank on Nov. 1 to form an entity called TowneBank Mortgage – Richmond. Benchmark's 52 employees will join TowneBank Mortgage.

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