VisionBank founders join Old Dominion National Bank.
BANKING AND CREDIT NEWS-August 12, 2019-VisionBank founders join Old Dominion National Bank
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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 company said.
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.
Old Dominion opened its Tysons Corner full-service branch and executive headquarters in 2017 and has had its leadership team there for nearly three years. Since mid-2016, when Merrill was named CEO, the bank has organically grown its balance sheet by nearly six fold to more than USD 325 million in assets and more than USD 265 million in deposits.
McLean-based VisionBank (In Organization), which was formed in 2018 to become a Virginia-chartered commercial bank, has withdrawn its previously submitted applications to bank regulators. The terms on which VisionBank founders will join Old Dominion were not disclosed.
Old Dominion is an independent, locally owned and managed community bank with executive headquarters in Tysons Corner, Va. and more than USD 325 million in assets. Old Dominion's Tysons Corner full-service branch serves a growing number of customers across the Washington metropolitan area, and the bank's three full-service locations in the Charlottesville area serve Albemarle County and Central Virginia. Visit the bank online at ODNBonline.com.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Aug 12, 2019|
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