A local bank is moving forward with plans for a new headquarters for one of its subsidiaries.
C&F Financial, the parent company of C&F Bank, closed this month on land near Richmond International Airport, where it will build a new 25,000-square-foot home for its C&F Finance consumer lending division.
The West Point-based bank paid $400,000 for nearly 10 acres at 5491 International Trade Drive. The deal closed March 6.
The bank has enlisted local development firm Thalhimer Realty Partners to steer the project.
Tom Cherry, C&F’s chief executive, said construction is scheduled to begin in second quarter 2020, with completion planned for some time in 2021.
“Right now the plans are to move forward,” Cherry said, when asked whether the coronavirus slowdown is affecting things. “We’re in the process of bidding out