Virginia Commerce Bancorp, Inc. (the “Company”), (Nasdaq: VCBI), parent company of Virginia Commerce Bank (the “Bank”) has been named to Forbes’ list of “ America’s 100 Most Trustworthy Companies.” The annual list recognizes publicly-traded U.S. companies that demonstrate superior transparency and integrity.
Forbes partnered with independent corporate governance analytics firm GMI Ratings to publish the list of 100 companies on American exchanges that are the most transparent and trustworthy. GMI’s quantitative and qualitative analysis looked beyond the raw data on companies’ income statements and balance sheets in order to assess the true quality of corporate accounting and management practices, according to Forbes. GMI finds that its 100 Most Trustworthy Companies have consistently demonstrated transparent and conservative accounting practices and solid corporate governance and management. They do not play games with revenue and expense recognition, or with asset valuation.
The resulting list was generated after GMI examined more than 8,000 companies traded on U.S. exchanges with market caps of $250 million or more. Virginia Commerce Bancorp, Inc. is included in the Small-Cap Company category with a current accounting and governance risk score of 94 out of a possible 100.
“We are honored to be the only bank headquartered in Virginia to be included in such an esteemed list of American organizations,” remarked President and CEO of Virginia Commerce Bancorp, Inc., Peter A. Converse. “It’s truly gratifying to be recognized for our commitment to maintaining a high level of accounting practices, corporate governance and integrity.”To view Forbes’ entire list of “America’s 100 Most Trustworthy Companies,” visit http://www.forbes.com/sites/jacquelynsmith/2012/03/20/americas-most-trustworthy-companies/2/. About Virginia Commerce Bancorp, Inc. Virginia Commerce Bancorp, Inc. is the parent bank holding company for Virginia Commerce Bank, a Virginia state chartered bank that commenced operations in May 1988. The Bank pursues a traditional community banking strategy, offering a full range of business and consumer banking services through twenty-eight branch offices, one residential mortgage office and one wealth management services office, principally to individuals and small-to-medium size businesses in Northern Virginia and the Metropolitan Washington, D.C. area.
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