Several 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 in the second quarter. National Bankshares in Blacksburg expects to record a $6.6 million pretax gain.
Virginia National Bankshares in Charlottesville sold its stake for a $4.7 million pretax gain, while Atlantic Union Bankshares in Richmond sold its stake for a roughly $32.3 million pretax gain.