A trio of Virginia banks sold their interests in an insurance agency.
The companies disclosed in separate regulatory filings that they sold stakes in Bearing Insurance Group to an unnamed third party.
Carter Bankshares in Martinsville said it expects to recognize a $35.8 million pretax gain that would be recognized in the second quarter. National Bankshares in Blacksburg said it expects to record a $6.6 million pretax gain.
Also, Virginia National Bankshares in Charlottesville sold its stake for a $4.7 million pretax gain.