NORFOLK, Va. (AP) — The former chief executive of the Bank of the Commonwealth and three former vice presidents have been indicted by a federal grand jury on charges that they conspired to commit bank fraud.

The Bank of the Commonwealth opened in 1971 and was headquartered in Norfolk, serving the Hampton Roads community and northeastern North Carolina until it failed in 2011. The bank failure followed an aggressive expansion by the bank beyond its traditional markets of Norfolk and Virginia Beach in 2006 and into northeastern North Carolina and the Outer Banks.