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Home > Company Index > Banking > Banking - Mid-Atlantic > Commonwealth Bankshares, Inc.

Commonwealth Bankshares, Inc.
Nasdaq: CWBS
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 PROFILE
Commonwealth Bankshares is the holding company for the Bank of the Commonwealth, which operates nearly 10 branches in the southeastern corner of Virginia. The commercial bank attracts deposits from individuals and small to midsized businesses in the communities of Chesapeake, Norfolk, Portsmouth, and Virginia Beach by offering checking and savings accounts, IRAs, and CDs. The bank also provides online banking. Commercial mortgages represent more than half of the Bank of the Commonwealth's loan portfolio. The bank also originates residential mortgages, business loans, and consumer installment loans. Subsidiary Bankers Insurance, which has been steadily acquiring local agencies, has more than a dozen offices.

 COMPETITION
BB&T Corporation (BBT)
CENIT Bancorp, Inc. (CNIT)
First Virginia Banks, Inc. (FVB)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 15.80
1-Yr. Sales Growth: 30.7%
Employees: 86
Revenue per employee: $183,720.93

 KEY PEOPLE
• Edward J. Woodard
    CEO
• John H. Gayle
    CFO

 CONTACT INFO
403 Boush St.
Norfolk, VA 23510
US
Phone: 757-446-6900
Fax: -
Online: Web Site

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