Cordia Bancorp Inc. Completes Share Exchange With Bank of Virginia
29 Marzo 2013 - 10:54PM
Cordia Bancorp Inc. (Nasdaq:BVA) announced today that it has
completed its share exchange with Bank of Virginia (the "Bank")
resulting in the Bank becoming a wholly owned subsidiary of Cordia
Bancorp. Under the terms of the Agreement and Plan of Share
Exchange between Cordia Bancorp and the Bank, each outstanding
share of Bank common stock owned by persons other than Cordia
Bancorp have been exchanged for 0.664 of a share of Cordia Bancorp
common stock. Shares of Cordia Bancorp are listed on The Nasdaq
Stock Market on under the symbol "BVA". As a result of the
reorganization, Cordia has approximately 2,778,900 shares of common
stock outstanding. Shareholders of the Bank will receive
information shortly on how to exchange their shares of Bank common
stock for shares of Cordia Bancorp common stock.
About Cordia Bancorp and Bank of Virginia
Cordia Bancorp is a private bank holding company founded in 2009
to bring new leadership and financial strength to undervalued
community banks. Substantially all of the assets of Cordia consist
of its investment in Bank of Virginia. Bank of Virginia, a state
chartered bank headquartered in Midlothian, Virginia, currently
operates four full-service offices in the counties of Chesterfield
and Henrico, Virginia. Additional investor relations information
can be found on the internet at www.bankofva.com. Bank of Virginia
is a member of the FDIC and Equal Housing Lender.
DISCLAIMER
This news release may include forward-looking statements. These
forward-looking statements are based on current expectations that
involve risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize or should underlying
assumptions prove incorrect, actual results may differ materially.
These risks include: changes in business or other market
conditions; the timely development, production and acceptance of
new products and services; the challenge of managing
asset/liability levels; the management of credit risk and interest
rate risk; the difficulty of keeping expense growth at modest
levels while increasing revenues; and other risks detailed from
time to time in the Bank's periodic filings with the Board of
Governors of the Federal Reserve System, including the Bank's
annual report on Form 10-K as filed with the Board of Governors of
the Federal Reserve. Pursuant to the Private Securities Litigation
Reform Act of 1995, the Bank does not undertake to update
forward-looking statements contained within this news release.
CONTACT: Jack Zoeller,
Chairman & CEO, Bank of Virginia
President & CEO, Cordia Bancorp
804-763-1333
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