Middleburg Financial gets new CFO

Raj Mehra is the new chief financial officer at Middleburg Financial Corp., the company announced Tuesday. Middleburg-based Middleburg Financial (Nasdaq: MBRG) is the parent company for Middleburg Bank. Mehra joins the company from Fitchburg, Mass.-based Fidelity Co-operative Bank, where he has been CFO since January 2008. Before that he was president of McLean-based Chelsea Advisory Services LLC, a financial services consultancy for 18 months. From 2005 to mid-2007 he was CFO of Orlando-Fla.-based Urban Trust Bank. Previously he was a senior business manager with D.C.-based Fannie Mae for two years. “We are delighted that Raj Mehra is joining Middleburg Financial Corp.,” said Gary Shook, president in a statement. “Raj brings a diverse skill set that will help our company continue to execute its business strategy to the fullest. As we look ahead to the future, I know that the experience, financial acumen and leadership skills Raj has developed throughout his career will enable him to develop innovative solutions that will enhance our long-term performance.” Mehra said in a statement: “It is great to be part of a company that is so financially strong and deeply rooted in the community. The team at Middleburg Financial Corp. has built a great business and I look forward to helping the organization continue to grow and prosper.” Mehra will receive an annual base salary of $190,000 and a $55,000 signing bonus, which will be distributed in two payments. If he leaves Middleburg within two years, he will have repay a portion of his bonus. He also will get $5,000 in stock options vested over three years, according to a securities filing. ...
Click here to read the whole Article (external link)

MIDDLEBURG FINANCIAL CORP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exh

Show all filings for MIDDLEBURG FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for MIDDLEBURG FINANCIAL CORP 6-Oct-2009Change in Directors or Principal Officers, Financial Statements and Exh Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information p...
Click here to read the whole Article (external link)

Middleburg Financial Corporation Names New CFO

MIDDLEBURG, Va., Oct. 6 /PRNewswire/ -- Middleburg Financial Corporation (the "Company") (Nasdaq: MBRG - News), announced today that Mr. Raj Mehra has been named as Executive Vice President and Chief Financial Officer. Mr. Mehra brings 22 years of leadership experience in the financial services industry, including banking, financial risk management, mortgage backed securities, derivatives and public accounting. During his career, Mr. Mehra has served as Chief Financial Officer of a community bank, Financial Risk Management practice leader at a Big 4 Audit firm, and is the founder of a financial risk consulting company."We are delighted that Raj Mehra is joining Middleburg Financial Corporation as our CFO," said Gary R. Shook, President of the Company. "Raj brings a diverse skill set that will help our company continue to execute its business strategy to the fullest. As we look ahead to the future, I know that the experience, financial acumen and leadership skills Raj has developed throughout his career will enable him to develop innovative solutions that will enhance our long-term performance," added Mr. Shook."I am excited to join Middleburg Financial Corporation," said Mr. Mehra. "It is great to be part of a company that is so financially strong and deeply rooted in the community. The team at Middleburg Financial Corporation has built a great business and I look forward to helping the organization continue to grow and prosper," noted Mr. Mehra.Mr. Mehra holds a BS in Engineering from the Indian Institute o...
Click here to read the whole Article (external link)

Bullish and Bearish Takes on Regional Banks

67 WALL STREET, New York - October 10, 2009 - The Wall Street Transcript has just published its Northeast and Mid-Atlantic Regional Banks Report offering a timely review of the sector to serious investors and industry executives. This 121 page feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online. Topics covered: Residential Mortgage Situation -- Regional Banks Mergers and Acquisitions Timing Strategy -- Commercial Mortgage Portfolio Decay -- Timing Of Commercial Mortgage Portfolio Bad Debt Write Offs-- FDIC Hit List For Bank Closings -- Mutual Holding Company Structure -- Interest Rate Scenarios -- Banking Pricing Power -- Expensive Bank Valuations -- Tangible Book As Guide For Bank Stock Pricing -- Distressed Sales Of Community and Regional Banks -- TARP Program -- Attitude Of Institutional Investors Towards Resurgence in Community Banking -- Unique Business Models -- Regional Bank Boards Looking For Exit Companies include: BB and T (BBT); Colonial (CNB); First Niagara (FNFG); PNC (PNC); National City (NCC-PA); Harleysville National (HNBC); Citizens First Bancorp (CTZN); Regions Financial (RF); Bank of America (BAC); SunTrust Banks (STI); Pinnacle Financial (PNFP); Northwest Bancorp Inc. (NWSB); Beneficial (BNCL); Investor Savings Bancorp (ISBC); Territorial Bancorp (TBNK); FNB Bancorp (FNBG.OB); National Penn (NPBC); Trustco Bank (TRST); KeyBank (KEY); M and T Bank (MTB); New York Community Bancorp (NYB); Bank of New York Mellon (BK); W...
Click here to read the whole Article (external link)

Middleburg Financial Corporation Announces 2009 Third Quarter Earnings

MIDDLEBURG, Va., Oct. 28 /PRNewswire/ -- Middleburg Financial Corporation (the "Company"), (Nasdaq: MBRG - News), parent company of Middleburg Bank (the "Bank") and Middleburg Investment Group, Inc., today reported its financial results for the third quarter of 2009. Third Quarter 2009 HighlightsFor the Quarter:For the Year:"This economic cycle continues to create a negative environment for our communities and thus for the financial services sector" commented Joseph L. Boling, Chairman and CEO of Middleburg Financial Corporation. "While we don't foresee an immediate broader economic recovery, we do see positive signs in the portfolio of Middleburg Bank. Our Balance Sheet continues to strengthen with the addition of $19.3 million in capital raised during the third quarter, as well as the continued growth in deposits of nearly $43 million, year to date. Additionally, our non performing assets, although higher than our traditional levels, do continue to track at levels significantly less than our peers." Mr. Boling continued, "We also used surplus cash generated from our deposit base during the third quarter to materially reduce the Company's wholesale funding levels."Net Interest Income and Net Interest MarginInterest and fees on loans was $12.0 million during the three months ended September 30, 2009, compared to $12.9 million during the three months ended June 30, 2009. Loan fees decreased $1.0 million when comparing the quarter ended Se...
Click here to read the whole Article (external link)

MIDDLEBURG FINANCIAL CORP Files SEC form 8-K, Results of Operations and Financial Condition, Other Events, Financial

Show all filings for MIDDLEBURG FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for MIDDLEBURG FINANCIAL CORP 30-Oct-2009Results of Operations and Financial Condition, Other Events, Financial Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informa...
Click here to read the whole Article (external link)

Middleburg Financial Corporation Announces Third Quarter 2009 Dividend

Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....
Click here to read the whole Article (external link)

MIDDLEBURG FINANCIAL CORP Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue17,849  21,168  19,978  17,765  Cost of Revenue3,866  3,959  4,156  4,263  Gross Profit -  17,209  15,822  13,502  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative11,905  13,019  11,832  11,638  Non Recurring(179)179   -   -  Others964  1,583  1,037  442  Total Operating Expenses -   -   -   -  Operating Income or Loss -  2,428  2,953  1,422  Income from Continuing OperationsTotal Other Income/Expenses Net -   -   -   -  Earnings Before Interest And Taxes1,293  2,428  2,953  1,422  Interest Expense749  991  1,151  1,314  Income Before Tax544  1,437  1,802  108  Income Tax Expense(92)21  140  21  Minority Interest(1,307) -   -  404  Net Income From Continuing Ops(671)1,416  1,662  491  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes - ...
Click here to read the whole Article (external link)

MIDDLEBURG FINANCIAL CORP Files SEC form 10-Q, Quarterly Report

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of the financial condition at September 30, 2009 and results of operations of the Company for the three months and the nine months ended September 30, 2009 and 2008 should be read in conjunction with the Company's Consolidated Financial Statements and the accompanying Notes to Consolidated Financial Statements included in this report and in the 2008 Form 10-K. It should also be read in conjunction with the "Caution About Forward Looking Statements" section at the end of this discussion. Overview The Company is headquartered in Middleburg, Virginia and conducts its primary operations through two wholly owned subsidiaries, Middleburg Bank and Middleburg Investment Group, Inc and a majority owned subsidiary, Southern Trust Mortgage, LLC. Middleburg Bank is a community bank serving the Virginia counties of Loudoun, Fairfax and Fauquier with seven financial service centers and two limited service facilities. Middleburg Investment Group is a non-bank holding company with two wholly owned subsidiaries, Middleburg Trust Company and Middleburg Investment Advisors, Inc. Middleburg Trust Company is a trust company headquartered in Richmond, Virginia, and maintains offices in Williamsburg, Virginia and in several of Middleburg Bank's facilities. Middleburg Investment Advisors is a registered investment advisor headquartered in Alexandria, Virginia serving clients in 24 states. Southern Trust Mortgage is a regional mortgage company headquartered in Virginia Beach, Virginia and maintains offices in Virginia, Maryland, Georgia, North Carolina and South Carolina. The Company operates under a business model that makes all of its financial and wealth management services available to its clients at all of its financial service centers. Financial service centers are larger than most traditional retail banking branches in order to allow ...
Click here to read the whole Article (external link)

MIDDLEBURG FINANCIAL CORP Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for MIDDLEBURG FINANCIAL CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for MIDDLEBURG FINANCIAL CORP 5-Nov-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational p...
Click here to read the whole Article (external link)