This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cordia Bancorp Announces Lifting Of Bank Of Virginia Regulatory Agreement

MIDLOTHIAN, Va., Aug. 15, 2013 (GLOBE NEWSWIRE) -- Cordia Bancorp Inc. (the "Company") (Nasdaq:BVA), parent of Bank of Virginia (the "Bank"), announced today that the Federal Reserve Bank of Richmond and Virginia Bureau of Financial Institutions have terminated their Written Agreement with the Bank entered into in January 2010. At the end of 2010, Cordia assumed control of the Bank to pursue a strategy of improving the Bank's management and performance and to establish a foundation for organic and strategic growth centered on the Richmond, VA market.

Jack Zoeller, Chief Executive Officer of Cordia and the Bank, stated, "This vote of confidence from our regulators enables Cordia and Bank of Virginia to proceed to the next phase in our plan, which is to accelerate organic growth in the Richmond banking market and seek strategic growth through mergers and acquisitions. We have taken advantage of our opportunity during this difficult economic period to totally rebuild the Bank's management, processes and culture. Cordia Bancorp and Bank of Virginia are now well positioned to take yet another large step to benefit our customers and shareholders."

Mr. Zoeller added: "This is a significant milestone for our directors and management. They deserve high praise for their personal investments, time and dedication to the task of saving this institution – which was accomplished without any funds from the government or bailout by another bank or institution. We look forward to maintaining this same highly talented team to lead us through the next phase of our strategy."

About Cordia Bancorp

Cordia Bancorp Inc. is a public bank holding company founded in 2009 seeking to invest in undervalued community banks and pursue organic and strategic growth in the Mid-Atlantic banking market.  Substantially all of the assets of Cordia consist of its investment in Bank of Virginia. Bank of Virginia provides retail banking services to individuals and commercial customers through four full-service and two ATM-only banking locations in the greater Richmond market, including Chesterfield and Henrico Counties and Colonial Heights, Virginia.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TSLA $148.89 0.43%
YHOO $27.43 2.30%
AAPL $95.46 0.49%
FB $101.89 2.40%
GOOG $690.94 1.90%


Chart of I:DJI
DOW 16,097.52 +83.14 0.52%
S&P 500 1,874.78 +22.57 1.22%
NASDAQ 4,349.6250 +80.8620 1.89%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs