Commonwealth Bankshares, Inc.serves as a holding company for Bank of the Commonwealth (the Bank). The Bank operates four branches in Norfolk, five branches in Virginia Beach, four branches in Chesapeake, and two branches in Portsmouth, one branch in Powells Point, North Carolina and one branch in Waves, North Carolina. The Bank has four subsidiaries: BOC Title of Hampton Roads, Inc., BOC Insurance Agencies of Hampton Roads, Inc., Commonwealth Financial Advisors, LLC and Community Home Mortgage of Virginia, Inc. The Company conducts mortgage funding services through its wholly owned subsidiary Bank of the Commonwealth Mortgage, brokerage and investment advisory services through its wholly owned subsidiary Commonwealth Financial Advisors, LLC, insurance activities through its wholly owned subsidiary BOC Insurance Agencies of Hampton Roads, Inc. and title insurance services through it’s 91% owned subsidiary Executive Title Center.
(Source: 10-K)
