News

ODNB has helped 353 new and existing customers in the Washington D.C. metropolitan area, Central Pennsylvania, and other market areas secure SBA-backed loans through the Paycheck Protection Program.

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“I’ve talked to a lot of small businesses because they are bringing the employees back,” said [ODNB CEO Mark] Merrill, whose bank a rare institution that’s accepting PPP applications from new customers so long as they open a deposit account with the bank. “They have developed a group that was working extremely well when the virus hit, and they don’t want to dismantle it because they are just not going to get it back.”

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TYSONS CORNER, Va., December 11, 2019 — Old Dominion National Bank announced that it has named Jim Abdo, Jennifer Bognet and Mindi McClure to its Board of Directors.  The three new directors, each based in the Washington metro area, bring deep commercial real estate and corporate board experience to ODNB.

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TYSONS CORNER, Va., November 27, 2019 —Old Dominion National Bank announced that it has successfully completed a private placement offering of common equity, raising $22.4 million from accredited individual investors. This new funding will support the community bank’s continued organic growth and expansion throughout its Washington metro, Central Pennsylvania and Charlottesville markets.

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TYSONS CORNER, Va., August 30, 2019 —Old Dominion National Bank today announced the appointment of Richard Schoen to serve as a Senior Vice President and Commercial Real Estate Lender. In his new role, Schoen will focus on residential and commercial real estate lending throughout the greater Washington, D.C. area, where he has spent much of his 35-year career building long-lasting, trustworthy customer relationships.

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Washington Business Journal (August 6, 2019) - Andy Medici, Staff Reporter Tysons-based bank-in-organization VisionBank is dropping it’s bid to become Greater Washington’s next new bank — with its leaders joining up with an existing Tysons bank, Old Dominion National Bank, instead.

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TYSONS CORNER, Va., August 6, 2019 — Founders of VisionBank (In Organization) have agreed to join Old Dominion National Bank to help bolster the bank’s mission to provide a true community banking experience to growing numbers of businesses and individuals throughout the Washington, D.C. metro area. 
The boards of directors of both Old Dominion and VisionBank unanimously approved the agreement.  Melinda H. McClure, VisionBank’s Chairman and CEO, will join Old Dominion as Executive Vice President and Chief Strategy Officer.  Richard D. Horn, VisionBank’s Chief Operating Officer and General Counsel, is also joining Old Dominion as Executive Vice President and General Counsel of the established community bank

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Alfred H. Moses, one of the financial services and banking industry’s leading figures and a distinguished public servant, has joined the Board of Directors of Old Dominion National Bank.
“Having an industry innovator, diplomat and attorney of Alfred’s caliber join our board to build a high-performing financial institution is not only an honor, but a validation of our independent, locally owned and managed bank’s mission and growth strategy,” Chairman and CEO Mark S. Merrill said. “His experience, counsel and perspective will be invaluable to our board and Greater Washington area footprint as we continue to add top talent and introduce growing numbers of businesses and individuals to a true community banking experience with Old Dominion.” 

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Washington Business Journal (July 2, 2019) - Andy Medici, Staff Reporter 

Tysons-based Old Dominion National Bank might not have begun as one of the true “de novo” banks popping up in Greater Washington recently, but CEO Mark Merrill is keen to point out the bank also started from basically scratch just a couple years ago - and is now on track to be profitable by the end of the year.   ”We didn’t get the charter but we did the next best thing” Merrill said in an interview. He noted when he took over in the middle of 2016, the bank had just $56 million in assets  and limited cash. He ended up raising funding and making a bet on the Northern Virginia market, essentially starting fresh.  “Nobody was raising money for a community bank in 2016 in this market.  Nobody was doing it, and it hadn’t been done in about 10 years.”

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Greater Washington area bank announces executive promotions and board appointments as it continues to focus on executing its growth strategy TYSONS CORNER, Va., July 26, 2019 —Old Dominion National Bank today announced that Mark S. Merrill has been named Chairman of the company’s Board of Directors, effective immediately. Merrill joined Old Dominion in December 2015 and had served as president, CEO and a director of the Board since June 2016. He will continue to serve as CEO of the growing Tysons Corner-based community bank.

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