Virginia Commonwealth Bank began in 1936 as First Federal Savings and Loan Association of Petersburg, a mutual savings and loan started by several local businessmen to promote savings and homeownership. In 1982, with 4 branch locations, First Federal converted to a federal capital stock association through the sale and issuance of common stock.
In 1983, First Federal converted to a federally chartered stock savings bank known as First Federal Savings Bank of Virginia . With continued growth, First Federal grew to its current eight branch locations. In 2008, First Federal obtained approval from the State Corporation Commission and Federal Reserve Bank to convert to a state chartered bank, thus becoming who we are today -- Virginia Commonwealth Bank.
The Bank has branch offices throughout the state of Virginia and maintains its home office at 1965 Wakefield Street in Petersburg .