Business notes for Jan. 30

The Virginia Gazette

Business Notes

The Williamsburg Inn was among seven Virginia hotels to be included in the 2016 U.S. News & World Report Best Hotel rankings. Two properties -- The Inn at Little Washington and Primland Resort – received Gold Badge status as among the best hotels in the United States. The Inn and four other hotels in Virginia — in Richmond, Virginia Beach and Charlottesville — received Silver Badge status as the best hotels in their markets. "We are delighted that the Williamsburg Inn was named the best hotel in Williamsburg and is included among some of the finest hotels in Virginia," said Florencio Ferrao, vice president of hospitality for Colonial Williamsburg. "We are currently making some improvements to the Inn that we think will even further enhance its appeal, and we look forward to welcoming guests back to the iconic hotel later this spring."

Kaufman & Canoles, P.C. announced William L. Holt has been elected a member at the firm. Holt practices in the firm's Williamsburg and Newport News offices and is a member of the firm's Private Client Services Practice and Real Estate Strategies Group. His practice focuses on business law, real estate, and trusts and estate planning. Holt earned his bachelor of science, cum laude, from Christopher Newport University and his Juris Doctor from the College of William & Mary School of Law.

Cushman & Wakefield | Thalhimer announced Evergreen Development Company is planning a 60,000-square-foot expansion of Fox Mill Centre in Gloucester. Tenants joining the next phase include TJ Maxx, Petco and Rack Room Shoes; they are scheduled to open April 2017. Additional tenants will be announced soon. The regional shopping center is anchored by Walmart and Home Depot and includes 400,000 square feet of retail space. Other tenants include Chick-fil-A, Applebee's, Ruby Tuesday, Starbucks, Pizza Hut, Verizon, Mattress Warehouse, Best Cuts, Little Italy and Sweet Frog.

3e Restoration, Inc. announced it received a Governor's Homeless Reduction Grant. The Homeless Reduction Grant program, administered through the Virginia Housing Trust Fund, is designed to reduce homelessness within Virginia. The program provides assistance to projects that address homelessness needs in the commonwealth and supports the state housing policy. On Tuesday, Gov. Terry McAuliffe announced that nearly $1.8 million was requested from 22 applicants for the program and that $958,600 has been awarded to twelve recipients. 3e, which is affiliated with Williamsburg Christian Church, works to help families caught in the cycle of poverty and homelessness..

•The end of the holiday season doesn't mean the end of giving. Hair Cuttery, has sponsored its Share-A-Haircut program since 1999. The Share-A-Haircut program has donated more than 1.2 million free haircut certificates valued at nearly $25.2 million over the life of the program. The 2016 program begins with haircuts for the homeless on Monday and Tuesday, Feb. 1-2. For every haircut purchased on those two days, a free haircut certificate will be donated back to a homeless person in the community of one of Hair Cuttery's nearly 900 salons. To distribute the certificates to those in need, Hair Cuttery is partnering with local shelters and community organizations. This February, Hair Cuttery hopes to reach thousands of homeless people in the neighborhoods it serves. The Williamsburg Hair Cuttery is located in Monticello Marketplace at 4680 Monticello Ave.

•Hampton Roads-based TowneBank reported the following financial results for the full year and the fourth quarter, which ended Dec. 31, 2015: The bank reported record annual earnings of $62.4 million for the year, compared to the $42.2 million reported in 2014, representing a 47.9 percent increase. Fully diluted earnings per share increased 3.4 percent to $1.22 per share compared to $1.18 per share for 2014. Earnings per share were affected in 2015 by the issuance of nearly 15.6 million new common shares in conjunction with the acquisition of Franklin Financial Corporation on Jan. 2, 2015. The bank's quarterly dividend was increased to $0.12 per share beginning in the second quarter of 2015 resulting in total dividends of $0.47 per share for 2015, an increase of 9.3 percent over 2014. On an annualized basis, the current annual dividend rate is $0.48 per share.

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