TYSONS CORNER, Va., Feb. 13, 2017 /PRNewswire/ -- Old Dominion National Bank announced that it is expanding its branch network to drive organic growth in the Washington, D.C. metro area and better serve its current and prospective Charlottesville area. Today the bank opened two new full-service branch locations, which are located at 8601 Westwood Center Drive in Tysons Corner and 1100 East High Street in Charlottesville.
Old Dominion received regulatory approval for its expansion plans in January and quickly completed work on the new offices as the bank continues to execute its growth strategy, following a transformational year for Old Dominion in 2016. In June 2016, Old Dominion announced a change in leadership with the appointment Mark S. Merrill to President and Chief Executive Officer, followed by the strategic hiring of seasoned executive leaders and commercial and retail bankers in the Northern Virginia market, and other strategic markets. In November 2016, it designated Tysons Corner as the new location for its headquarters and executive offices. In December 2016, Old Dominion announced it raised $30 million in gross proceeds through a common equity offering to over 175 individual investors that live and work in the Bank's current and future market footprint.
"With our capital strength and experienced team of industry leaders, we are well-positioned to continue growing organically, by providing enhanced value to customers through innovative financial solutions tailored to meet their unique needs," said Kevin D. Albrigo, Executive Vice President and Chief Lending Officer, pending regulatory approval. "We are thrilled to open our first retail banking office in the Greater Washington market, allowing us to better serve our niche small and medium businesses and expand our retail banking operations. With a strategy in place for growth and market outreach, the new retail alignment will provide the structure needed to support our next level of success."
Both new Old Dominion branches offer convenient full-service banking in a modern, inviting setting. In lieu of traditional branch space, the branches will be staffed by Retail Bankers trained to help customers with everything from customer transactions to complex account services and innovative banking solutions. Both new locations will employ two Retail Bankers and a Retail Banking Manager, and seasoned Commercial Bankers to serve consumer, business and nonprofit customers. The Tysons Corner branch will also be home to Old Dominion's new Capitol Region Client Relationship Manager, Christian Videla, who recently joined Old Dominion from EagleBank.
"In a time when consolidation and branch closings are prevalent across the banking industry, Old Dominion is thriving and expanding its market reach. We see a real desire and need in the Northern Virginia market for a community bank that's truly focused on delivering a customer-first experience, and we're expanding our footprint and our team to meet that need," said Stephanie Lykins-Harvey, Director of Retail Banking. "Throughout our organization we have committed to recruiting top talent and our retail team is part of that commitment. We're pleased to welcome our newest branch employees, who join a team with a customer-centric mindset and fully committed to exceeding customer expectations."
Old Dominion National Bank will continue to seek opportunities to support its ongoing growth strategy focusing on communities where its shareholders and team members live and work, to include smaller, boutique-style branches in strategic locations to add further convenience for existing and prospective customers, complemented by cutting-edge technology that brings the banks' products and services to its customers' places of business.
Old Dominion invites current and prospective customers to visit its new Tysons Corner location and meet its newest retail management team, Christian Videla and Talya Conroy. The two come from EagleBank and Cardinal Bank, respectively, and have more than 20 years of combined financial services experience and are dedicated to seeing the community they live and work in thrive.
About Old Dominion National Bank
Old Dominion is an independent, locally-owned and managed bank headquartered in Tysons Corner, Va., with approximately $80 million in assets at December 31, 2016. Old Dominion's Tysons Corner full-service branch serves a growing number of customers across the Washington metropolitan area, and the bank's three full-service locations in the Charlottesville area serve Albemarle County and Central Virginia. Old Dominion offers a full range of commercial and consumer financial services in the communities it serves. Please visit the bank online at ODNBonline.com.
Old Dominion National Bank
Mark S. Merrill
President and Chief Executive Officer
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SOURCE Old Dominion National Bank