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SEC revokes stock of shuttered Va bank's parent

Sunday - 8/4/2013, 6:14pm  ET

NORFOLK, Va. (AP) -- Federal regulators have revoked the stock of the shuttered Bank of the Commonwealth's parent.

The Securities and Exchange Commission had terminated Commonwealth Bankshares Inc.'s corporate registration on May 31. But the company technically remained an official entity, although it was inactive.

The Virginian-Pilot (http://bit.ly/181JiTH ) reports that the SEC revoked the company's securities last week.

The Bank of the Commonwealth collapsed in September 2011 amid more than $150 million in losses.

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Information from: The Virginian-Pilot, http://pilotonline.com


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