Old Dominion National Bank Exits Formal Agreement

TYSONS CORNER, Va., August 16, 2018 — Old Dominion National Bank was released from its June 2010 formal agreement with the Office of the Comptroller of the Currency (OCC) on July 26, 2018, as recently announced by the OCC. The formal agreement with the OCC required that the Bank be restored to a safe and sound condition by improving and adhering to sound strategic planning, capital, and credit administration practices.

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Washington Business Journal Article

Key story highlights:
Old Dominion National Bank has raised $38.7 million in an oversubscribed round.
The bank continues to pivot from a Charlottesville, Virginia-based bank to one based in Tysons.
The bank will hit $300 million in assets in 12 months, CEO Mark Merrill says.

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Old Dominion National Bank Raises $38.7 Million in New Capital to Fund Continued Growth

Tysons Corner community bank completes second common equity offering in 18 months to raise a total of nearly $69 million from shareholders largely in the D.C. area and Pennsylvania

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