News

Washington Business Journal Article -  Friday, June 23, 2023 - Old Dominion National Bank in Tysons has raised $28.1 million in equity to fuel its expansion and boost its legal lending limit as it looks to double or even triple its asset size in the coming years. The raise comes on the heels of Old Dominion surpassing $1 billion in assets in the first quarter of this year and is intended to help it grow organically to get to the next benchmark — $2 or $3 billion in total assets — said CEO and Chairman Mark Merrill. This brings its total common equity funding raised to $119.2 million since 2016.

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TYSONS CORNER, Va., May 04, 2023 - Our first quarter 2023 results are a strong start in what has been a challenging quarter for the banking industry. Since December 31, 2022, we have further bolstered a balance sheet that displays a strong level of capital and ample liquidity. Our total assets, loans and deposits all increased by approximately 5%, a 20% annualized rate, during the quarter. We delivered our thirteenth consecutive quarter of profitability for the quarter ended March 31, 2023, further validating that our high-touch and personalized approach to client service is working to deliver long-term franchise value for our shareholders.

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Dear Valued Customer,

We are reaching out to you today in light of the recent events pertaining to the banking industry and the continued media cycle around ongoing news. We want to assure you that our bank remains safe and sound.

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TYSONS CORNER, Va., February 03, 2023 - Our fourth quarter and full year 2022 results were a strong end to what was a record year on several measures, surpassing $1.0 billion in total assets at December 31, 2022. We have been growing our Bank at a robust rate, and 2022 was the most profitable year in our Company’s history delivering net income of $7.4 million, supported by our continued high growth and strong financial performance.

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TYSONS CORNER, Va., Jan 20, 2023—Old Dominion National Bank (“ODNB”) today announced the promotion of Jennifer H. Kim to Executive Vice President, Chief Financial Officer, effective immediately.

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"A State College bank is making its first play in the capital region, where it hopes to drum up home and business loans."

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STATE COLLEGE, Pa. — December 16th, 2022 – Centre 1st Bank, a division of Old Dominion National Bank, is pleased to announce the addition of Bob Rader as the President of Centre1st Mortgage Division. Mr. Rader will be located in Camp Hill PA setting up a Loan Production office as the bank enters the Southcentral PA market in residential and commercial lending.

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STATE COLLEGE, Pa. — November 10th, 2022 – Centre 1st Bank celebrated the groundbreaking of its new Pennsylvania Headquarters Building in the State College area of Centre County.

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TYSONS CORNER, Va., November 04, 2022 - Reflecting our continued solid growth and strong financial performance, ODNB Financial Corporation (the “Company” or “ODNB”), the holding company for Old Dominion National Bank (the “Bank”) ended the first nine months of 2022 marking our highest net income for any consecutive nine-month period at $6.1 million, and total assets reached a record level of $971.3 million at September 30, 2022.

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TYSONS CORNER, Va., September 15, 2022– ODNB Financial Corporation (the “Company”) today announced the completion of a private placement of $24.0 million of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Notes”) to certain qualified institutional buyers and accredited investors.

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