HR Bankshares sells branch, closes another

Hampton Roads Bankshares Inc. said Thursday it completed the sale of its Gateway Bank branch in Charlottesville and closed its Bank of Hampton Roads branch on Pacific Avenue in Virginia Beach. Both measures were announced earlier this year as part of the company's effort to restore profitability by cutting costs and improving efficiency.

Hampton Roads Bankshares, the Norfolk-based parent of Bank of Hampton Roads and Shore Bank, agreed in June to sell the Charlottesville branch to Page Valley Bank in Luray. In July, the company announced plans to close its Pacific Avenue branch in November and move the accounts and services to a branch on Laskin Road in the city's Hilltop section.