Central Virginia Bank to Purchase Branch in Henrico County

Apr 24, 2001, 01:00 ET from Central Virginia Bankshares, Inc.

    POWHATAN, Va., April 24 /PRNewswire Interactive News Release/ -- Central
 Virginia Bankshares, Inc. (Nasdaq: CVBK) announced today at its annual meeting
 of shareholders that its subsidiary, Central Virginia Bank has entered into a
 definitive purchase and assumption agreement with Guaranty Bank of
 Charlottesville, VA. to acquire Guaranty's Wellesley Branch in the fast
 growing Short Pump area of Henrico County. The agreement, subject to
 regulatory approval, provides for the transaction to be substantially
 completed by the end of the second quarter of 2001, and in addition to
 assumption of the deposit accounts, gives Central Virginia Bank the option to
 purchase certain consumer and commercial loans related to the branch. All of
 the current staff at the branch will be retained and become employees of
 Central Virginia Bank.
     Ralph Larry Lyons, President and CEO of Central Virginia Bankshares, Inc.
 commented that " ... this branch, with approximately $10 million in deposits,
 represents CVB's initial entry in to the rapidly developing western Henrico
 County market which, with the completion of route 288, will be less than 25
 minutes from our Powhatan Corporate center. Its customer demographics are very
 similar to our existing customer demographics in the Midlothian and
 Brandermill markets of western Chesterfield County."
     Readers are cautioned that this press release contains forward-looking
 statements made pursuant to safe harbor provisions of the Private Securities
 Litigation Reform Act of 1995. Such forward-looking statements are based upon
 management's current knowledge and assumptions about future events and may
 address issues that involve significant risks, uncertainties, estimates that
 may cause actual results to differ materially from the anticipated results or
 other expectations expressed in the forward-looking statements.
     Central Virginia Bankshares, Inc. is the parent of Central Virginia Bank,
 a 27 year old community bank headquartered in Powhatan County, a suburb of
 Richmond. It currently operates six branch offices, two each in Powhatan and
 the adjacent counties of Chesterfield and Cumberland.
 
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SOURCE Central Virginia Bankshares, Inc.
    POWHATAN, Va., April 24 /PRNewswire Interactive News Release/ -- Central
 Virginia Bankshares, Inc. (Nasdaq: CVBK) announced today at its annual meeting
 of shareholders that its subsidiary, Central Virginia Bank has entered into a
 definitive purchase and assumption agreement with Guaranty Bank of
 Charlottesville, VA. to acquire Guaranty's Wellesley Branch in the fast
 growing Short Pump area of Henrico County. The agreement, subject to
 regulatory approval, provides for the transaction to be substantially
 completed by the end of the second quarter of 2001, and in addition to
 assumption of the deposit accounts, gives Central Virginia Bank the option to
 purchase certain consumer and commercial loans related to the branch. All of
 the current staff at the branch will be retained and become employees of
 Central Virginia Bank.
     Ralph Larry Lyons, President and CEO of Central Virginia Bankshares, Inc.
 commented that " ... this branch, with approximately $10 million in deposits,
 represents CVB's initial entry in to the rapidly developing western Henrico
 County market which, with the completion of route 288, will be less than 25
 minutes from our Powhatan Corporate center. Its customer demographics are very
 similar to our existing customer demographics in the Midlothian and
 Brandermill markets of western Chesterfield County."
     Readers are cautioned that this press release contains forward-looking
 statements made pursuant to safe harbor provisions of the Private Securities
 Litigation Reform Act of 1995. Such forward-looking statements are based upon
 management's current knowledge and assumptions about future events and may
 address issues that involve significant risks, uncertainties, estimates that
 may cause actual results to differ materially from the anticipated results or
 other expectations expressed in the forward-looking statements.
     Central Virginia Bankshares, Inc. is the parent of Central Virginia Bank,
 a 27 year old community bank headquartered in Powhatan County, a suburb of
 Richmond. It currently operates six branch offices, two each in Powhatan and
 the adjacent counties of Chesterfield and Cumberland.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X78976107
 
 SOURCE  Central Virginia Bankshares, Inc.