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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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