Assemblies of God Credit Union has purchased one of three buildings Village Bank closed on Friday under a restructuring plan by the community bank.

AGCU closed Monday on the purchase of the 1776 E. Independence St. building, made for an undisclosed amount, according to a news release. The credit union plans to reopen the building in February as a full-service branch with loan and member services as well as a lobby and drive-through, according to the release. Additional details were not immediately available.

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About Village Bank & Trust Financial Corp.

Village Bank and Trust Financial Corp. is a bank holding company whose activities consist of investment in its wholly owned subsidiary, Village Bank (the Bank). The Company offers a range of banking and related financial services, including checking, savings, certificates of deposit and other depository services, and commercial, real estate and consumer loans. It is a community-oriented and locally managed financial institution focusing on providing personalized services to its customers. It conducts its operations from its main office/corporate headquarters location in Chesterfield County, and it has 15 branch offices. In October 2008, the Company acquired River City Bank.