MIDLOTHIAN, Va., Feb. 1, 2012 (GLOBE NEWSWIRE) -- Bank of Virginia (Nasdaq:BOVA) announced today the promotion of Richard Dickinson to Bank President. He has served as the Bank's Executive Vice President since joining the Bank in May 2011. Jack Zoeller, who has served as the Bank's President since December 2010, will remain the Bank's Chairman of the Board and Chief Executive Officer. Mr. Dickinson will continue as Chief Operating Officer.
"Richard has been successful in turning around the Bank's lending culture and staff and launching our new $40 million commercial loan campaign," said Jack Zoeller, Chairman and CEO. "His leadership has helped put Bank of Virginia on a far sounder footing, particularly on the regulatory front."
"Richard Dickinson's elevation to President is an integral part of the Bank's strategic plan," continued Zoeller. "It signals an important milestone for Bank of Virginia and enables me to refocus my role toward capital raising and developing and leading the Bank's organic growth and M&A strategy."
Before joining Bank of Virginia, Mr. Dickinson spent his entire career with SunTrust Bank, achieving increasingly senior positions in a variety of credit and lending management positions throughout the bank. Most recently, he was Senior Credit Officer and Executive Vice President of Commercial Real Estate at SunTrust, where he managed a team of seven regional credit officers and a credit portfolio in excess of $7 billion. While at United Virginia and Crestar Banks, predecessors of SunTrust, he gained invaluable experience in evaluating and integrating the lending portfolios and operations at acquired banks.
Mr. Dickinson is a native Richmonder who received his Bachelor's degree from University of Richmond. He has been active in Richmond community affairs, particularly in the area of affordable housing. He served on the board of the Virginia Local Initiative Support Corporation and currently serves as a committee member of the Better Housing Coalition. Richard resides in Richmond with his wife Allyson and two daughters, Kathryn and Lauren.
About Bank of Virginia
Bank of Virginia, a Virginia state chartered bank headquartered in Midlothian, Virginia, currently operates four full-service offices in the counties of Chesterfield and Henrico, Virginia. Bank of Virginia's common stock is traded on the NASDAQ stock market under the quotation symbol "BOVA". 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.
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 and CEO 804-763-1333