News

TYSONS CORNER, Va., October 31, 2024 – ODNB Financial Corporation (“ODNB” or the “Company”), the holding company for Old Dominion National Bank (the “Bank”) and its Centre 1st Bank division (“Centre 1st Bank”), reported financial results for the third quarter ended September 30, 2024.

“With the support of our Board, shareholders, and teammates, we have built deep and enduring relationships with our local customers,” said Chief Executive Officer and Chairman Mark Merrill. “Core deposit relationships are central to our funding strategy and fuel the in-market lending activity that has made ODNB one of the fastest growing community banks in the country. The success of these efforts continued to pay off in the third quarter.” Mr. Merrill added: “Double digit loan growth and improved net interest margin boosted net interest income and total revenues to new record levels. With strong pipelines, abundant liquidity and capital strength, we are well positioned to continue executing our growth strategy through the end of 2024, and into the new year.”

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TYSONS CORNER, Va., August 6, 2024 – ODNB Financial Corporation (“ODNB” or the “Company”), the holding company for Old Dominion National Bank (the “Bank”) and its Centre 1st Bank division (“Centre 1st Bank”), reported financial results for the second quarter ended June 30, 2024.

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TYSONS CORNER, Va., June 24, 2024 – Old Dominion National Bank (“ODNB”) is pleased to announce the appointment of Frank H. Grace, III to serve as Executive Vice President and leader of the bank’s enhanced Title & Escrow Services Division, as it continues to grow deposit relationships in the Washington, D.C. metropolitan area and beyond.

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TYSONS CORNER, Va., May 6, 2024 – ODNB Financial Corporation (“ODNB” or the “Company”), the holding company for Old Dominion National Bank (the “Bank”) and its Centre 1st Bank division (“Centre 1st Bank”), reported financial results for the first quarter ended March 31, 2024.

“ODNB’s first quarter results were marked by healthy profitability, organic loan growth, pristine asset quality, and stable deposits, positioning the Company very well for the balance of 2024,” Chairman and Chief Executive Officer Mark Merrill said. “During the first quarter we invested in talented commercial bankers focused on growing core deposits and commercial and industrial lending, and we opened our newest Northern Virginia branch in Leesburg, enhancing our ability to provide concierge-level service to clients throughout the Washington, D.C. metro area. Looking ahead and across our markets, we anticipate strong overall loan and deposit growth in 2024. We also intend to continue protecting net interest margin, even in a prolonged high-interest rate environment.”

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TYSONS CORNER, Va., February 8, 2024 – ODNB Financial Corporation (“ODNB” or the “Company”), the holding company for Old Dominion National Bank (the “Bank”) and its Centre 1st Bank division (“Centre 1st Bank”), announced financial results for the fourth quarter and year ended December 31, 2023.

“In 2023, ODNB delivered meaningful balance sheet expansion, growing loans and deposits, despite the challenges facing the banking sector,” said Mark Merrill, Chairman and Chief Executive Officer of the Company. “Our sustained growth and continued profitability are a direct result of our talented team’s exceptional relationships with clients in each of the communities we serve, and the tremendous support of our local shareholders. We are very thankful to each of our team members and their commitment to relationship banking and providing concierge-level services to our client base - hallmarks of a true community bank.”

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Tysons Corner, VA., November 21, 2023 – ODNB Financial Corporation (the “Company”), the parent company
of Old Dominion National Bank (“ODNB” or the “Bank”), is proud to announce the appointment of Charlene
A. Friedman to the Board of Directors of both the Company and the Bank, effective December 11, 2023.

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TYSONS CORNER, Va., October 31, 2023 - We are pleased to report strong operating results for the third quarter of 2023 and nine months ended September 30, 2023. Third quarter earnings marked our fifteenth consecutive quarter of profitability with total assets, loans and deposits reaching record highs. We continue to execute upon our organic growth strategy, resulting in meaningful earnings and long-term franchise value for shareholders. Pretax income was a record $2.1 million in the current quarter, compared to $1.5 million in the second quarter of 2023.

Old Dominion National Bank (the “Bank”), the wholly-owned banking subsidiary of ODNB Financial Corporation (the “Company” or “ODNB”), continues to serve its growing number of customers across Northern Virginia and the Washington, D.C. metro area, Central Virginia and the Charlottesville area, and Pennsylvania through its Centre 1st Bank division.

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TYSONS CORNER, Va., July 31, 2023 - We are pleased to report strong second quarter 2023 financial results. The quarter was highlighted by a record level of assets, loans and deposits, while bolstered by our successful common equity capital raise of $28.1 million. Net income for the second quarter of 2023 was $1.2 million, an increase of 11.1% from $1.1 million in the prior quarter.

We delivered our fourteenth consecutive quarter of profitability for the quarter ended June 30, 2023, as a result of the continued investments in our people, products and technology, further validating our high-touch and personalized approach to client service. We continue to grow deposit market share to deliver long-term franchise value to our shareholders. ODNB Financial Corporation (the “Company” or “ODNB”), the holding company for Old Dominion National Bank (the “Bank”) continues to serve its growing number of customers across Northern Virginia and the Washington, D.C. metro area, Central Virginia and the Charlottesville area, and Pennsylvania through its Centre 1st Bank division.

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TYSONS CORNER, Va., July 19, 2023—ODNB Financial Corporation (the “Company”), the financial holding company of Old Dominion National Bank (“ODNB”) and Centre 1^st Bank, a division of ODNB, today announced an investment in Frost & Conn, LLC (“Frost & Conn”), a full-service, independent insurance agency based in State College, PA. Frost & Conn offers all lines of personal, business and life insurance to clients across central and southern Pennsylvania and New Jersey.

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TYSONS CORNER, Va., June 26, 2023—ODNB Financial Corporation (“the Company”) announced it recently completed a private placement of $28.1 million of shares of the Company’s common stock to 160 accredited individual investors at a price of $11.00 per share. The Company expects to use the proceeds from the capital raise for organic balance sheet growth, strategic opportunities, lending and investment activities, and for general corporate purposes. Investors in the recent offering were primarily from the Washington, D.C. metro area, where the Company’s executive offices are located, and also included individuals from Pennsylvania and New Jersey, where the Company’s wholly-owned subsidiary Old Dominion National Bank (the “Bank”) operates its Centre1st Bank division.

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