The seven branches span the Company's market area, with one in Richmond, two in Northeast North Carolina, three in the Hampton Roads area and one on the Eastern Shore. The Company will be notifying each customer of the impacted branches to provide information on the expected closing date, and the location to which each branch's bank accounts and services will be transferred. Closings are expected to occur in June and July. The accounts and services in each closed branch will be transferred to a nearby branch, minimizing the impact on customers.
Caution About Forward-Looking Statements
Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts, including prospective statements about the nature and timing of the consolidation of branches, the Company's ability to realize expense savings from the consolidation of branches and the Company's ability to successfully execute its long term strategic plan. Although the Company believes that its expectations with respect to such forward looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual events or results to differ significantly from those described in the forward-looking statements include, but are not limited to those described in the cautionary language included under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other filings made with the SEC.