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Our Story

Thank you for your continued interest in Old Dominion National Bank and our Centre1st Bank division, and our parent company ODNB Financial Corporation (the “Company”).

ODNB serves a growing number of businesses and consumer customers across Northern Virginia and the Washington, D.C. metropolitan area, Central Pennsylvania, New Jersey and the Charlottesville, Va. area. Our success has always been driven by our people, who provide highly responsive and personalized service to businesses, entrepreneurs and other leaders in the markets we serve, while dedicating themselves to making their communities the best they can be.

Our purpose begins with our company culture . We create a positive environment of high-care and high-accountability that empowers our employees to deliver superior service to our valued customers and enrich our communities. We have built a standard of excellence that resonates throughout the entire organization. Our talent, some of the best relationship-based local bankers and professionals in the business, are passionate about delivering success together, exceeding customer expectations, serving their neighbors and communities, and building a premier community bank.

We are also committed to continuously enhancing our in-person and digital banking experience. We welcome you to visit any of our branches, or utilize our advanced online banking platform, where we offer a full selection of products and services designed to meet the growing needs of the businesses, nonprofits, professionals, individuals, and families throughout our markets.

We invite you to experience the ODNB Difference for yourself.




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ODNB provides concierge-level service to both commercial and consumer customers within the Washington metropolitan area, Northern and Central Virginia, Central Pennsylvania, and New Jersey. We are an independent, locally owned and managed community bank with executive headquarters in Tysons Corner, VA.

ODNB focuses on building deep, long-lasting relationships through our personalized service, serving small to medium-sized businesses, nonprofits, and consumer customers, throughout our markets. We offer a full range of financial products and services comparable to those of larger banks including commercial and consumer loans; treasury and cash management services; merchant card services as well as debit and credit card services for personal and business accounts; checking, savings, and money market deposit accounts; certificates of deposit; individual retirement accounts; and online and mobile banking.

ODNB serves the Washington metropolitan area with its full-service locations in Tysons Corner and Leesburg, and the Bank’s full-service locations in Albemarle County serve Central Virginia. Centre1st Bank, a division of ODNB, serves the Central Pennsylvania area with a full-service branch in State College, Pennsylvania.

2023 – Dependable Strength and Profitable Growth

Overcoming industry headwinds in 2023, ODNB delivered its fourth consecutive year of profitability. The Bank’s asset quality remained pristine while continuing its pattern of consistent annual asset and deposit-growth. This performance enabled ODNB to serve as a dependable source of strength for local customers and communities across the markets we serve.

Relationships with local individuals, entrepreneurs, and small- and mid-sized businesses allowed ODNB and its Centre 1st division to grow total loans by 17% in 2023 to a record $1.04 billion at year end, and grow total assets by 21% to a record $1.24 billion over the same period.

After the high-profile failures of three banks with unconventional business models raised questions about the ability of community banks to retain customer deposits, ODNB not only preserved deposits, but grew balances by 18% to $984 million at year end. We attribute this success to our ability to provide concierge-level service and responsiveness to depositors, the quality of the individuals and businesses who bank with us, and the strength and tenure of our relationships with local customers, community leaders, and shareholders.

These relationships were also central to the success of our fourth private offering of common stock with local individual investors. Through an oversubscribed offering in the second quarter of 2023, we raised $28.1 million in growth capital from 160 shareholders at $11.00 per share, or 102% of book value.

Also in mid-2023, the Bank announced an investment in Frost & Conn, LLC, a full-service, independent insurance agency to offer personal, business and life insurance products to ODNB and Centre 1st clients.

At the end of 2023, Charlene A. Friedman joined the Boards of Directors of the Company and the Bank, bringing a wealth of experience to ODNB, from her extensive background in real estate and education, as well as deep roots in the Central Pennsylvania community.

Across all of the communities we serve, the Bank continued to support locally based charitable organizations and hometown chapters of national non-profits. In 2023, ODNB and Centre 1st were proud to support our communities through organizations including The American Cancer Society, Children’s National Hospital, The Joe Pizzano Memorial Fund, Homestretch, Jill’s House, Junior Achievement, Northern Virginia Family Service, Organization for Autism Research (OAR), Step Sisters, and Special Olympics, to name a few.

2022 – High Growth and Strong Financial Performance

Our 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. 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. metropolitan area, Central Pennsylvania, and the Charlottesville, Virginia area.

In addition, we delivered our twelfth consecutive quarter of profitability for the quarter ended December 31, 2022, as we continued to grow total assets, gross loans and deposits to produce record net revenue. The organic loan growth was primarily driven by our high-performing commercial banking team fostering new client relationships, and their ability to bring prior business relationships to our Bank. This was supported by a back-office team of professionals dedicated to our client service model. Our talented team continues to navigate through the rapidly changing interest rate environment and uncertainties in the economy to maintain healthy net interest margins and pristine credit quality.

We formed our bank holding company effective July 1, 2022, providing us with more capital options to support our growing franchise, in addition to providing revenue generating opportunities. We are also coming off our successful completion of the Company’s oversubscribed $24.0 million subordinated debt offering in the third quarter of 2022, positioning us with a strong capital base for continued growth into 2023.

The success of our Bank has always been driven by our people, who provide highly responsive and personalized services to businesses, entrepreneurs and other leaders in the markets we serve. We are making solid progress in building our franchise, and we believe we are well positioned in our markets to continue to grow.

2021 – Record Earnings, Continued Growth and Stronger Balance Sheet

While maintaining laser focus on meeting the needs of our customers and communities during a challenging year for many across our nation in 2021, ODNB sustained its profitable growth trajectory, achieved record annual earnings, fortified its balance sheet, and maintained excellent credit quality metrics throughout the year.

ODNB secured $301 million in funding for more than 700 small businesses and nonprofits through the federal emergency Paycheck Protection Program (PPP) launched in 2020. ODNB funded $92 million in PPP loans in 2021 alone, after the U.S Small Business Administration (SBA) opened the program’s second round at the beginning of the year. Even as the industry neared completion of this temporary federal stimulus program funded through community banks, ODNB grew loans organically, with non-PPP lending reaching record levels by year-end.

In 2021, ODNB also appointed Robert Hubbell and William Reilly to its Board of Directors.

As a result of its continued strong financial performance and its drive to recruit and keep top-tier talent across the company, the Bank’s total assets have grown to $838 million as of December 31, 2021.

2020 – Record-Breaking Results for ODNB

Despite the challenges that the COVID-19 pandemic and associated economic crisis presented, including a near-zero interest rate environment, ODNB achieved record financial results in 2020 by providing credit and capital to their business and individual customers when they needed it most, including through an expanded residential mortgage lending platform and PPP lending. ODNB’s loan portfolio grew by 88%, a key driver that enabled ODNB to achieve its first full year of profitability in 2020. As a result of ODNB's amazing growth, the Washington Business Journal named the bank among the regions fastest growing companies.

ODNB also appointed Daniel Harrington to serve as vice chairman of the Board and Former Washington, D.C. Mayor Anthony Williams and PA State Senator Jacob Corman III as directors of the bank.

Even in the midst of a pandemic, ODNB continued to find ways to support its communities. As a locally owned and managed bank, ODNB is a proud supporter of programs benefitting the people and communities that we serve. Among the incredible organizations that we support is the Organization for Autism Research (OAR), an Arlington, VA-based nonprofit that uses science to address the social, educational, and treatment concerns of self-advocates, parents, professionals, and caregivers in the autism community. In addition to serving as a corporate sponsor of OAR’s 2020 Active for Autism 5k, several of our team members participated in the virtual race, helping OAR exceed its fundraising goal for this event.

2019 – A Pivotal Year for ODNB

In 2019, ODNB achieved significant balance sheet growth designed to provide the scale necessary to reach profitability. During 2019, the bank grew total assets by 62%, loans by 60% and deposits by 67%. ODNB also generated total revenue of $11.9 million, up 78% from the prior year.

As part of our strategic plan, ODNB expanded into the attractive Central Pennsylvania market, with the opening of our first Centre1st Bank branch in State College during 2019. Led by ODNB President Jack Infield, Centre1st made quick progress in attracting local business and consumer customers, supported by Central Pennsylvania-based executives, directors and shareholders who are connected and involved in the local business community.

During 2019, ODNB also took important steps to strengthen its team, executive management group and board leadership. Vishal Gandhi joined ODNB as SVP, Commercial Lender, Todd Rowley signed on as our Capital Region Market Executive, and Rick Schoen joined ODNB as SVP, Commercial Lender. In addition, we announced a strategic partnership with the DC-area founders of the former VisionBank (In Organization), many of whom became important shareholders of and advocates for ODNB, including Rick Horn, who joined ODNB as Executive Vice President and General Counsel. ODNB also strengthened its Board of Directors through the additions of Joseph DiPasquale, Alfred Moses, Jim Abdo and Jennifer Bognet in 2019.

In addition, ODNB successfully completed a $22.4 million private placement offering of common equity at $13.00 per share, or 138% of book value, in the fourth quarter of 2019. Investors in the offering were largely business leaders in the Washington, D.C. metro area. The capital supported the community bank’s continued organic growth and expansion throughout its Washington metro, Central Pennsylvania and Charlottesville markets.

2018 – Another Leap Forward for Old Dominion

Old Dominion took another leap forward in 2018, combining continued execution of its organic growth strategy with its second successful capital raise in 18 months, raising another $38.7 million to fund the bank’s lending, investment activities, and growth in the markets it serves. In addition, the bank surpassed $250 million in assets during 2018, growing its balance sheet by more than five times in two years. Old Dominion also expanded its shareholder base with more than 320 new shareholders, largely in the Washington metro area and Pennsylvania.

To support its growing shareholder and customer base in Central Pennsylvania, the bank opened a loan production office this year in State College, PA. Throughout its footprint, the bank continues to invest in talented community bankers who are introducing Old Dominion’s true community bank to a growing number of customers.

Old Dominion’s commitment to the community remains strong and unwavering. In 2018, we have committed our resources and time to special organizations that provide important services to children throughout the markets we serve, including the Medical Care for Children Partnership Foundation in Fairfax County and the Jefferson Area Children's Health Improvement Program (CHiP). In addition, each of our branches and offices have collected toys for children’s hospitals in Virginia and Central Pennsylvania. We look forward to continuing supporting these and other local nonprofits throughout this year and in the future.

2017 – Executing Old Dominion’s Organic Growth Strategy

With a balance sheet newly fortified with $30 million in capital from 175 shareholders across the Washington metro area and Pennsylvania, Old Dominion National Bank successfully executed its organic growth strategy throughout 2017.

Old Dominion expanded its assets, loans, deposits, client relationships, branch network and talented team through the year. At the same time, the bank supported many important community organizations through volunteerism and financial contributions, such as the Albemarle County Police Foundation, Ronald McDonald House and Junior Achievement, to name a few.

Old Dominion’s first full-service branch in Northern Virginia opened in Tysons Corner in 2017, where the company’s executive offices are located.

Old Dominion also introduced its concierge style approach to banking to a growing number of new customers, as the bank seeks to become a bank of choice for high-quality small and mid-sized businesses, nonprofits and individuals in the markets it serves. As a result, the bank grew loans by 174% and deposits by 163% during 2017 and expanded the year’s net interest income by nearly 100% over 2016.

2016 – A Transformational Year for Old Dominion

Over the course of the year, Old Dominion successfully raised $30 million in capital, adding more than 175 new shareholders. These shareholders represent individuals with strong ties to the Washington, DC metro community, and communities in Pennsylvania and Maryland. The Board of Directors appointed Mark Merrill to President and CEO in June 2016. Under Mark’s leadership, the Bank grew one of its most important assets, its employee base from 17 to 36 team members at the end of 2016. Seasoned bankers and skilled professionals with strong entrepreneurial spirit joined our team positioning us for growth ahead.

As the 2016 year drew to a close, the bank prepared to open its flagship location in Tysons Corner, VA, and an office in downtown Charlottesville, VA, strategically placing the bank in the heart of its two banking regions. The Tysons Corner location is home to a full-service retail and lending space, as well as the Bank’s executive offices. Both new locations are integral to the Bank’s growth strategy and deliver offices conveniently in the markets where our leaders, customers and shareholders live and work. We are committed to providing customers with the technology they expect of larger institutions with the added benefit of a community environment.

The achievements of 2016 positioned Old Dominion National Bank for growth, creating value for our employees, customers and shareholders for years to come.

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