News

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,

I am reaching out to you today in light of the recent events pertaining to the banking industry and the continued media cycle around ongoing news. I 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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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., Oct 31, 2022—Old Dominion National Bank (“ODNB”) today announced the appointment of Renee C. Aldrich as Executive Vice President, Commercial Lending Officer, effective immediately. 

With over 20 years of experience in community banking, Ms. Aldrich will be an integral part of the Company’s commercial lending team while managing client relationships in the Virginia, Maryland and Washington, D.C. areas. Her responsibilities will reach across industries, to include healthcare, non-profit, professional services and commercial real estate. 

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TYSONS CORNER, Va., Oct 20, 2022— Old Dominion National Bank (ODNB) is proud to announce that our Bank has been named among the Washington Business Journal's Fastest Growing Companies in Greater D.C. for 2022, placing 41st among the 50 companies named. We are extremely thankful for all the hard work of our team, and the partnership of all our customers.

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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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TYSONS CORNER, Va., August 17, 2022 - The second quarter of 2022 marked 10 consecutive quarters of profitability and total assets reached a record high. As ODNB executes its growth strategy, we continue to generate meaningful earnings for shareholders. In the second quarter of 2022, ODNB reported pretax income of $1.8 million compared to $1.5 million in the linked quarter and $1.4 million in the second quarter of 2021. Net income in the second quarter of 2022 was $3.5 million, compared to $1.2 million in the linked quarter and $911 thousand in the year-ago quarter. 

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TYSONS CORNER, Va., July 5, 2022— ODNB Financial Corporation (the “Company”) and Old Dominion National Bank (the “Bank”) announced that effective July 1, 2022, the Company and the Bank consummated the statutory merger pursuant to which the Company has become the parent bank holding company of the Bank (such transaction, the “reorganization”).

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