After 10 years, EagleBank is closing its Alexandria branch on Friday, March 3.
The EagleBank branch at the Atrium building (277 S. Washington Street) will then transfer all its accounts to its Ballston Branch (4420 N. Fairfax Drive).
Customers received the news in a Dec. 27 letter from Conchita Lumpkins, EagleBank’s director of community banking.
“It has been an honor and pleasure to serve your banking needs at this location for many years,” Lumpkins wrote. “We look forward to continuing to serve you at the Ballston location or any of our branch offices.”
EagleBank CEO Susan Riel told the Washington Business Journal in November that the company faces staffing issues, real estate lending challenges and rising interest rates.
Last year, EagleBank and its former CEO Ronald D. Paul were fined millions for violating insider lending regulations, and Paul was banned from banking.
Burke & Herbert Bank has been an iconic institution in Alexandria since 1852, but the financial institution has been cozying up to the city’s southern neighbor with a new centralized office.
While the bank’s headquarters will remain at the historic building in Old Town (100 South Fairfax Street), much of the rest of its operations will be shifted to a new headquarters at 5680 King Centre Drive in Franconia.
The bank said in a release that the local workforce is currently scattered around the region, and the new building will allow it to become more centralized.
“Consolidating our team under one roof allows us to improve collaboration, work much more efficiently, and continue to strengthen and build the Bank’s signature culture of community as we embrace future expansion,” said David P. Boyle, the Bank’s President and Chief Executive Officer, in the release. “The acquisition of this building is consistent with our plans for growth as we continue to execute our strategic priorities.”
The release said the new office will bring together the several branches within the bank under one roof.
“The new office will house employees from several departments, including commercial, treasury management, retail banking, human resources, operations, finance and accounting, credit risk management, marketing, digital strategy, and information technology,” the release said. “The new location is more centrally located for its expanding workforce; is certified as a LEED Gold level building, and provides additional visibility for the Bank.”
Chanting and holding signs, a local environmental group protested Chase Bank and Wells Fargo with ‘die-ins’ at their Old Town branches.
On Monday afternoon (April 4), more than a dozen protestors from the group TH!RD ACT-VA walked into both banks and chanted “What do we want? Climate change! What do we need? System change!” and delivered letters to local branch managers to forward to Chase CEO Jamie Dimon and Wells Fargo CEO Charles W. Scharf. The letters demand that the banks “divest from fossil fuels this year.”
JP Morgan Chase & Co. is the top arranger of bonds for fossil fuel companies in the world, followed by Citibank, Wells Fargo and Bank of America. Last year, each of those banks joined the United Nations’ Net Zero Banking Alliance, pledging to have their investment portfolios represent only companies with no emissions by 2050.
But the banks have a long way to go, said TH!RD ACT-VA organizer Deborah Kushner.
“Chase’s business plan is planetary death and destruction,” Kushner said. “It’s up to us to wake Chase. If Chase Bank does not stop all fossil fuel funding by the end of this year, we pledged to close all their accounts with Chase.”
TH!RD ACT-VA is made up of senior citizens from across the state, and has conducted similar protests in Richmond and Charlottesville. Their main online presence is on Facebook, and they ask that supporters sign an online pledge against banking with the lenders.
Organizer Bill Muth, of Richmond, brought his young grandchildren to the event, and said they participated in the die-in because the issue of climate change concerns future generations.
“I cannot stand by and watch an institution fund industries that are destroying the air supply of my grandchild,” Muth said, and then played dead with them and other protestors on the red brick sidewalk.
Credit Union cuts ribbon on HQ in Alexandria — “United States Senate Federal Credit Union celebrated the opening of its flagship HQ branch in Alexandria with a ribbon-cutting Wednesday.” [Alexandria Living]
Weekend single tracking to impact Metro travelers in Alexandria — “Single tracking between the Braddock Road and National Airport (stations) will happen this weekend due to Potomac Yard Metro construction.” [Patch]
Shop and stroll with the Old Town Boutique District — “Pick up a passport at an Old Town Boutique District (OTBD) shop, then visit six stores to be entered to win a $500 gift card to an OTBD store of your choice, or visit twelve stores to be entered to win $1,000 gift card to an OTBD store of your choice. Stop by Hummingbird and Fontaine for a signature cocktail or mocktail during the stroll. Turn in your passport to the last store you visit. Winners will be selected on Monday, September 27. No purchase necessary to participate.” [Visit Alexandria]
Today’s weather — “A mainly sunny sky. High 74F. Winds NW at 5 to 10 mph… Clear skies. Low 54F. Winds light and variable.” [Weather.com]
New job: Entry-level personal fitness trainer — “We are looking for coachable, enthusiastic, and dependable people who want to enter the field of personal training. No prior fitness experience or fitness education is required! We will hire and teach you everything you need to know to become a Certified Personal Trainer with The Perfect Workout!” [Indeed]
A 26-year-old Alexandria man arrested in July for robbing EagleBank in Old Town previously spent more than two years in jail for robbing another Alexandria bank.
On July 7, Dagmawee Dawit allegedly walked into EagleBank at 277 S. Washington Street in Old Town just after it opened at 8:30 a.m., implied he had a weapon and demanded cash from a teller.
The teller put money in a clear trash bag, along with a dye pack, which Dawit allegedly dropped in an alleyway after it exploded. He was arrested minutes later.
Dawit, who is being held without bond in the Alexandria jail, was arrested with an accomplice in 2017 for robbing the Wells Fargo Bank at 3624 King Street in the Bradlee Shopping Center. He pleaded guilty to bank robbery and grand larceny and spent two years in jail.
Founders Bank launched in the middle of the pandemic last year, and the D.C.-based bank is eyeing an expansion into Alexandria and Northern Virginia in the next several years.
That’s according to Founders Bank President Martin McCarthy, who told ALXnow that his tech-heavy brand is geared toward online-only banking.
“We definitely intend to grow into the Alexandria market,” McCarthy said. “We will likely have other branches in the future, but we’re going to be very branch-light. We could have one downtown, and one in Northern Virginia in the next five years or so.”
Like many of the members of his 18-person staff, McCarthy previously worked at Georgetown Bank before it merged with United Bankshares Inc. in 2016. He says he founded the bank after the region saw a drastic reduction in the number of local banks after decades of consolidation. It has since grown to more than $100 million in assets, he said.
“What we’re trying to do is fill what is a gaping void in the banking market in the D.C. area,” McCarthy said. “There is a huge level of disruption, and there’s a huge level of frustration among those who deal with community banks in the D.C. area… We are looking to do business with small and medium sized businesses in the D.C. Metropolitan area, and with the people that run those businesses.”
McCarthy said that opening during the pandemic proved to be challenging, forcing the bank to focus on technology so that customers could open accounts and close loans completely remotely.
“We also were able to open up at a time where we had no loans on our books that were negatively impacted by what the COVID environment was doing to a number of the different businesses in the area,” McCarthy said. “So, we had a very clean slate, and were able to come out of the gate knowing what the challenges were that we had to underwrite for as we began our growth.”
A male suspect has been arrested for the Wednesday morning bank robbery at EagleBank in Old Town.
“Responding officers took a male suspect into custody minutes after the robbery,” Alexandria Police said in a release. “This is an active investigation.”
The incident occurred just before 9 a.m., police tweeted. The bank opens at 8:30 a.m. and is located at 277 S. Washington Street, which is near the intersection with Duke Street.
No suspect description was provided, and police said to expect activity in the area. No one was reportedly injured in the incident.
NOTIFICATION:: APD is investigating a robbery at a bank in the 200 block of S. Washington St. that occurred a little before 9am. Expect police activity in the area. Details are still coming in. Updates to follow.
— Alexandria Police (@AlexandriaVAPD) July 7, 2021
It was a historic week in Alexandria. Here are some of the highlights.
President Joe Biden visited the Neighborhood Health COVID-19 vaccine site at Virginia Theological Seminary on Tuesday, just before announcing that the date for adults to get access to the vaccine has been moved to April 19.
The Alexandria School Board, on Thursday night, voted to change the name of T.C. Williams High School to Alexandria City High School.
The School Board also voted unanimously to reduce the distancing requirement in ACPS schools from six feet to three feet, all the while community support is growing to expand in-person instruction to more than the current two days a week. Summer school is currently planned to begin in July and will be four days a week, and ACPS is planning on reopening to five days a week at the beginning of the next school year.
Our top story was on the T.C. Williams Titans junior varsity football team walking off the field after an incident with the Robinson Rams on Monday night. Robinson Rams players allegedly spit at and made a racial slur against T.C. players. The incident has prompted Fairfax County Public Schools to announce a “stand-down” meeting for all athletic teams and coaches to discuss “appropriate behaviors required to play sports in FCPS.”
Additionally, six Alexandria Police officers were placed on administrative duties after a chase suspect died while in custody. Police responded to a call for shots fired in the 800 block of North Patrick Street, and multiple buildings and vehicles were struck. The driver of the vehicle crashed on Interstate 295, and then jumped over an overpass barrier and fell more than 20 feet and was tased by police, arrested and later died.
- Alexandria aims to adjust vaccination efforts as city moves into next phase
- Alexandria Police employees give department mixed reviews
- Planning Commission approves controversial subdivision, plants potential loophole for future denial
- City says Taylor Run alternatives could cost far more than current estimates
- Crime increase prompts ARHA to install security cameras in Old Town
- City looks to Landmark Towers deal to save Arlandria
- ‘Beltway Bank Bandit’ sentenced 21 years for robbing Alexandria banks and area businesses
- Man arrested for threatening to burn down City Hall
- Wilson wins Alexandria Democratic Committee straw poll, Gaskins takes top spot over incumbents
- JUST IN: T.C. Williams JV football team walks off field after alleged racial slur, spitting incident
- BREAKING: Shots fired in Old Town leads to chase that ends in D.C.
- JUST IN: President Biden set to visit Alexandria vaccination site Tuesday
- National Park Service announces George Washington Parkway to go on a diet
- Neighborhood Health vaccinating thousands at sites in Alexandria, Arlington and Fairfax County
- JUST IN: Woman arrested after fight on King Street Metro station platform
- UPDATE: $8,500 reported stolen in terrifying West End robbery
- JUST IN: President Biden visits COVID-19 vaccine site at Virginia Theological Seminary
- COVID-19 update: Alexandria moves into vaccination phase 1C
- JUST IN: Six Alexandria Police officers put on administrative duties after chase suspect dies
- Fairfax County man arrested for three burglaries, released three days later
Have a safe weekend!
Police Investigate More Shots Fired — “The Alexandria Police Department is investigating a “shots fired” call for service in the 5400 block of Richenbacher Avenue. Expect police activity in the area.” [Twitter]
Local Businesses Hopeful for Holiday Shopping Season — “Victoria Vergason, owner of a vintage barware store, says holiday shoppers this season could make or break some small businesses. ‘[It] is a very, very critical time for small businesses to be able to make their profits and run into the next year,’ she said.” [WUSA9]
PNC Looking for New Potomac Yard Branch Manager — “As a Branch Manager within PNC’s Retail organization, you will be based in Alexandria, VA at the Potomac Yards @ Giant branch.” [PNC]
Staff photo by Jay Westcott
This was a big week for Alexandria.
Our top story this week was the Alexandria School Board’s decision to reopen schools for students with disabilities, while the future reopening of school for elementary, middle and high schoolers remains in doubt.
Superintendent Gregory Hutchings, Jr. said that the only feasible option for reopening schools — based on distancing and staffing constraints — would be for students to rotate to in-person schooling only one day per week. Hutchings also appeared on CNN and said that ACPS is not likely to fully reopen until there is a vaccine for the coronavirus.
We also reported that the Alexandria City Council approved plans for Virginia Tech’s Innovation Campus and the North Potomac Yard development plan, virtually paving the way for the college to open its doors to hundreds of students by 2024.
“This is a very significant set of decisions for the city, and is really going to shape, not just a portion of our city, but really the entirety of our city for a long period of time to come,” said Mayor Justin Wilson.
On the coronavirus front, there are now 75 deaths in Alexandria and there are now or have been more than 4,100 cases since the pandemic began in March. Latino residents continue to lead the case count.
Governor Ralph Northam and Virginia Transportation Secretary Shannon Valentine were in the city on Monday to unveil a team of new zero emission DASH electric buses.
We also reported that the City Council unanimously approved naming the 1000 block of Montgomery Street in Old Town “Earl F. Lloyd Way” in honor of the first Black man to ever play in the National Basketball Association.
Restaurant-wise, we spoke with one of the owners of a pizza and burger joint that is taking over the former location of Pizzeria Paradiso on lower King Street. The Chewish Deli is also now open in Old Town, and the owner of Del Ray Boccato says that his gelato shop will soon open.
Additionally, more than 175 people participated in our weekly poll. With the November 3 election around the corner, this week we asked about voting plans, and 65% of respondents voted by mail/absentee, 31% plan to vote on election day, and 4% are not voting.
Here are ALXnow’s top stories this week in Alexandria:
- School Board Shelves Plan to Reopen Schools in 2021, Students with Disabilities Transitioning Back Next Month
- City Releasing Torpedo Factory Draft Action Plan Today
- City Council Approves Virginia Tech Innovation Campus and North Potomac Yard Development Plan
- Alexandria Student Called N-Word in Online Forum, and Not By Another Student
- Republican Jeff Jordan Running Uphill Battle Against Incumbent Rep. Don Beyer
- The Chewish Deli Opens New Location in Old Town
- One Arrested After Attempted Armed Robbery in Alexandria’s West End
- Report: ACPS Superintendent Sends Child to Bishop Ireton High School
- Female Suspect Flees, Nothing Taken in Attempted Old Town Bank Robbery
- Alexandria and Arlington Want a New Future for the Northern Virginia Juvenile Detention Center
- Alexandria Courthouse Deep Cleaned After Employee Tests Positive for COVID-19
Have a safe weekend!