Commercial Banking Solutions

Understanding your business and how you define financial success is Old Dominion’s specialty. We spend the time needed to develop relationships with our clients so we can provide the right banking products and services to meet your needs.  From cash management solutions to online payroll, we can tailor a package of services to help keep your business plan on track.

Prospective depositors and/or borrowers must be of legal age to apply for a loan or deposit.


  • Small Business Checking
    • Minimum to open: $100
    • Minimum Balance: $0
    • Maintenance Fee: $0 
    • Unlimited teller transactions
    • Unlimited check writing
    • E-statements and Combined statements available
    • Free Single-User Online and Mobile banking
    • First order of printed checks receives credit of up to $100
    • Non-interest bearing
  • Business Checking
    • Minimum to Open:  $250
    • Minimum Balance:  $1,000
    • Monthly Fee:  $15
    • # Items Free:  500
      • $0.25 for each item over 500
    • Account conditions to avoid monthly maintenance fee:
      • Balance must not fall below $1,000; and
      • Enrollment in E Statements
  • Commercial Checking
    • Minimum to Open: $5,000
    • Minimum Balance: N/A
    • Monthly Fee: $25*
    • Analysis Fee(s):
      • $0.15 per check
      • $0.25 per deposit
      • $0.10 per item deposited
    • Online Banking Suite: Must enroll Premier $20/Month

    *earnings credit may reduce other associated fees

  • Business Interest Checking
    • Minimum to Open:  $50,000
    • Minimum Balance:  $50,000 (to earn interest stated and avoid a service charge)
    • Monthly Fee:  $15*
    • # Items Free:  500
      • $0.25 for each item over 500.

    *earnings credit may reduce other associated fees

  • Business Money Market
    • Minimum to open: $2,500
    • Monthly Service Fee: $15 if balance falls below $2,500
    • Combined statements available
    • Transfers or withdrawals limited to six per month
  • IOLTA Checking

    Interest on Lawyer's Trust Accounts

    • Minimum to open: $100.00
    • Monthly service fee: $15 if balance falls below $100
    • Combined statements available
  • Community Checking

    For non-profits, small civic organizations, clubs, etc.

    • Minimum to open: $100
    • Monthly service fee: None
    • Free: Online banking, first order printed checks
    • Unlimited teller transactions
    • Unlimited check writing
    • Combined statements available
    • Non-interest bearing
  • Business Savings
    • Minimum to open: $500
    • Monthly service fee: $10 if balance falls below $500
    • Combined statements available
    • Unlimited deposits
    • Automatic transfers from other accounts available
    • Can be used to cover overdrafts on other accounts
    • Transfers or withdrawals limited to six per month

    *please reference our most recent rate sheet for more information

  • Insured Cash Sweep (ICS)

    Old Dominion has partnered with Promontory to bring you two exciting products that allow you to deposit funds with confidence. With ICS (Insured Cash Sweep) you can earn interest and access multi-million dollar FDIC Insurance coverage. ICS allows you access to your funds daily, allowing you to enjoy liquidity in your transaction account with ODNB. We also offer CDARS, allowing access to FDIC insurance while enjoying the benefits of a high dollar certificate of deposits. Ask your Banker for more information.

    Learn More

  • Certificate of Deposit Registry Service (CDARS)

    CDARS (Certificate of Deposit Registry Service) * allows access to FDIC insurance while enjoying the benefits of high dollar certificate of deposits. Feel good knowing that the full amount of your invested funds can stay local to support lending opportunities that build a stronger community; when you invest in CDs through CDARS,  you can also be investing in your own backyard.**

    *Funds may be submitted for placement only after a depositor enters into a CDARS® Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC. **This benefit applies to some, but not all types of CDARS transactions.

Business & Treasury Services

ODNB offers an array of treasury services that include the following::

Business Online Banking & Mobile

Wire Services

ACH Services

Remote Deposit Capture

Sweep Services

Lockbox Services

CDARS Deposit Services

ICS Deposit Services

Positive Pay

Business Bill Pay

Intuit Quicken/Quickbooks(web version) - search ODNB Business Online to connect accounts

Intuit Quicken/Quickbooks(software version) - search Old Dominion National Bank BeB DC to connect accounts

Merchant Services

Our merchant services program offers highly competitive rates, personalized customer service and the latest technology to help your business thrive. No upsells, no expensive extras and no unnecessary features. We'll simply make sure you’re using the best possible processing option at the best available pricing. And our industry-leading customer service team is always just a phone call away.

More Information

Industry Specialties

Please contact us for more information on our Industry Specialties.

  • Government Contracting

    Old Dominion National Bank understands the unique challenges our local and state government organizations face resulting from political changes and government funding. Our team is committed to partnering with you to deliver financial solutions specific to your industry.  

    We provide offer a customizable suit of products and solutions to meet your banking needs. At Old Dominion, our focus is on being a trusted financial partner. We work closely with you to support your changing business needs and strive to be part of your company’s competitive advantage in today’s growing markets.

    ODNB offers a full suite of finance options, subject to credit approval, for your business, including:

    • Working capital lines of credit
    • Contract/Large project financing
    • Letters of Credit
    • Fixed Asset Term Loans

    We also offer business and treasury services, allowing you to bank at your convenience.

  • Healthcare

    Old Dominion National Bank knows that you need financial strategies for your specific industry and we are committed to your success. We work with healthcare companies across a span of sectors, from medical manufacturers to insurers, including many provider types such as:

    • Hospitals and hospital-affiliated clinics
    • Physician practices
    • Assisted-living facilities
    • Imaging and dialysis centers
    • Laboratories

    We have a wide array of solutions that can be customized for your practice. Whether you are planning for a merger or acquisition, upgrading your equipment, or implementing a new EHR system, we can help.


  • Title and Escrow

    Old Dominion National Bank knows the value of providing the right cash management solutions to cater to the intricate needs of the title and settlement industry. Our experienced team is committed to understanding your most complex needs and providing you with a secure solution for your fiduciary funds. We offer several solutions to simplify you financial needs allowing you to focus on your business:

    • Wire transfers
    • Remote deposit capture
    • Online banking/Business Mobile Banking
    • ACH

    We know your time is valuable and we want to help you save it.

  • Non-Profit Organizations

    Old Dominion is committed to partnering with Non-profits to fulfill their missions. We offer financial solutions that meet the unique needs of charitable organizations:

    • Electronic deposit technology
    • Online & Mobile Banking featuring electronic payment options
    • Community Checking Account(s)
    • Customizable financing products

    Old Dominion support the efforts of our non-profits, we understand your commitment to improving the community and enriching the lives in it. This support extends to ODNB’s work in the community. Visit our community involvement page to learn more.


Commercial Loans

As a community bank, we are committed to economic growth and development throughout the communities we serve. Learn more about how Old Dominion National Bank can support your business growth. Whether you are looking to accelerate your cash flow, expand your business or acquire real estate, ODNB has a variety of financing solutions, subject to credit approval, designed to meet your specific needs.

To automate your payments, download the Automatic Transfer Form today. Once completed, please send us a copy via secure email, or contact your local branch.

  • Lines of Credit
    Enjoy an efficient and flexible way to meet your short-term financing needs

    With an Old Dominion National Bank Line of Credit your business will have access to working capital to support your short-term liquidity needs. As your business expands, a line of credit can provide assistance with cash flow management and promote the credit strength of your business. 

  • Term Loans
    Fund specific projects and initiatives with short and long-term loans

    A term loan is a simple and effective solution to financing your company’s growth. Whether you are in need of a business equipment loan or looking to finance office expansion and tenant-improvements, our lending team will work to provide the best rate options available to your business.

  • Commercial Mortgages
    Owner-Occupied and Real Estate investment solutions

    Old Dominion offers flexible financing terms for both owner-occupied real estate acquisitions and investor purchases. Whether you have outgrown your current office space or need to renovate, redevelop or refinance your current property, our commercial lending solutions offer competitive fixed and variable rate financing solutions.

  • Commercial Construction Loans
    Loans to developers and homebuilders

    When financing income-producing real estate, trust the experienced lenders at Old Dominion National Bank for your new construction or renovation projects. Our flexible construction loans and permanent financing options provide the conveniences necessary to meet a variety of seller and buyer financing needs.

Beneficial Ownership

In May 2016, the U.S. government passed a new regulation regarding the beneficial ownership of legal entity customers. Going forward, it will be mandatory for all financial institutions to comply with this regulation by identifying the ultimate beneficial owner(s) and a controlling person of a legal entity customer opening or maintaining an account.

In compliance with this new regulation, Old Dominion National Bank will collect beneficial ownership information from legal entity customers starting in the second quarter of 2018. This means that any time an account is opened or maintained for a legal entity, we will request information that identifies the ultimate beneficial owner(s) and controlling person of the legal entity. The required identifying information includes name, address, date of birth, identification number, and other information that will help identify those individuals. This information will need to be collected whether or not the person identified is an Old Dominion National Bank client. This information will also be collected for existing legal entity customers who establish or maintain accounts once this new regulation is implemented at Old Dominion National Bank beginning April 30, 2018.

While we understand the information requested is personal and sensitive, we need to obtain this information in order to comply with the law. As always, we will treat all information collected with the utmost care. All information will be stored securely and handled with the same standard of privacy that we have always maintained.

What you need to know about Beneficial Ownership

  • The new regulation impacts all legal entities opening or maintaining accounts at any financial institution.
  • Legal entities will need to identify and attest to all ultimate beneficial owner(s) that meet specific requirements as well as a controlling person (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President or Treasurer).
  • Old Dominion National Bank will collect information regarding the ultimate beneficial owner(s) and control person of legal entities whether or not they have a personal relationship with the financial institution.

We appreciate and genuinely value your business and are committed to offering you uncompromising customer service.


Additonal Information on this topic may be found at the following sites:


US Government Publishing Office