Eastern Virginia Bankshares, Inc.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Eastern Virginia Bankshares, Inc. - overview
Established
1910
Location
McLean, VA, US
Primary Industry
Financial Services
About
Eastern Virginia Bankshares, Inc. operates as a financial institution providing various banking services aimed at personal and business clients across the United States. Eastern Virginia Bankshares, Inc. was established in 1910 and is headquartered in McLean, Virginia, US.
The company primarily focuses on banking and financial services. In March 2013, it secured a PIPE investment of USD 45 mn from Castle Creek Capital Partners and GCP Capital Partners, marking a significant funding milestone for the firm. Eastern Virginia Bankshares offers a comprehensive suite of financial products and services tailored for both individual and business clients. Their offerings include personal checking and savings accounts, various mortgage products, and specialized financial services such as loans for USDA and VA mortgages.
The bank features the Eastern Virginia Perks Checking account, providing customers with cash back on debit purchases, aimed at individuals and small to medium-sized enterprises throughout urban and suburban markets in the United States. In the most recent year reported, Eastern Virginia Bankshares generated revenue of USD 44. 80 mn and reported an EBITDA of USD 13. 69 mn.
The bank's revenue stems from transaction fees, interest income from loans, and rewards programs linked to its banking products, including the popular Eastern Virginia Perks Checking account. Following the investment in June 2013, Eastern Virginia Bankshares plans to leverage the USD 45 mn raised to enhance product offerings and expand its reach. The bank aims to introduce new financial products designed for evolving consumer needs by 2015 and is exploring opportunities to enter additional markets in the Mid-Atlantic region by 2016.
Current Investors
GCP Capital Partners, Castle Creek Capital Partners
Primary Industry
Financial Services
Sub Industries
Commercial Banks
Website
www.sonabank.com/
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Eastern Virginia Bankshares, Inc. - financials
| Fiscal Year Ended | Dec 31, 2007 | Dec 31, 2008 | Dec 31, 2009 | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 33,239,000 | 32,577,000 | 32,677,000 | 35,788,000 | 34,887,000 | 33,503,000 | 33,979,000 | - | - | - |
| % Revenue Growth (YoY) | - | (2.0%) | 0.3% | 9.5% | (2.5%) | (4.0%) | 1.4% | - | - | - |
| EBITDA (USD) | 14,221,000 | 5,792,000 | (12,370,000) | (15,515,000) | 3,892,000 | 6,489,000 | (2,900,000) | - | - | - |
| Operating Income (USD) | 12,237,000 | 3,577,000 | (14,660,000) | (17,721,000) | 1,566,000 | 4,397,000 | (5,024,000) | - | - | - |
| Operating Margin | 36.8% | 11.0% | (44.9%) | (49.5%) | 4.5% | 13.1% | (14.8%) | - | - | - |
| % EBITDA Margin | 42.8% | 17.8% | (37.9%) | (43.4%) | 11.2% | 19.4% | (8.5%) | - | - | - |
| NET Income (USD) | 8,754,000 | 3,071,000 | (8,804,000) | (10,759,000) | 1,777,000 | 3,452,000 | (2,632,000) | - | - | - |
| % Net Margin | 26.3% | 9.4% | (26.9%) | (30.1%) | 5.1% | 10.3% | (7.7%) | - | - | - |
Eastern Virginia Bankshares, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | Eastern Virginia Bankshares, Inc. | - |
Displaying 1 - 1 of 1
Eastern Virginia Bankshares, Inc. - employee data
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.