This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mark Severson Named CFO Of Cordia Bancorp, Bank Of Virginia

Stocks in this article: BVA

MIDLOTHIAN, Va., Sept. 20, 2013 (GLOBE NEWSWIRE) -- Cordia Bancorp Inc. (the "Company") (Nasdaq:BVA), parent of Bank of Virginia (the "Bank"), today announced the hiring of Mark A. Severson as Executive Vice President and Chief Financial Officer of the Company and the Bank.

"Mark brings to Cordia and Bank of Virginia 37 years of banking experience, including as Chief Financial Officer of six institutions. He has made significant contributions at all levels of community banking, including at three banks larger than $1 billion in assets. We were particularly attracted to Mark's experience in bank mergers and acquisitions and retail branch development as we prepare for our next phase of organic and strategic growth," said Jack Zoeller, President and CEO of Cordia Bancorp and Chairman and CEO of Bank of Virginia.

Mr. Severson was most recently Chief Financial Officer and Treasurer of Chemung Financial Corporation in Elmira, NY. Before that he served as Chief Financial Officer of FNB United Corp. in Asheboro, NC from 2007 to 2011, Chief Financial Officer of Camco Financial Corporation in Cambridge, OH from 2001 to 2007, Chief Financial Officer of FCNB Corp. in Frederick, MD from 1990 to 2001, and Vice President of Union Planters Bank in Memphis, TN from 1984 to 1989.

Mark began his career as a senior accountant at KPMG LLC in Des Moines, IA, after receiving his bachelor's degree in accounting from University of Northern Iowa.  He and his wife Mariam have five adult children and will reside in the Richmond area.

The Company also announced, as required by the Nasdaq rules, equity inducement awards made to Mr. Severson as the newly appointed Chief Financial Officer.

As an inducement for employment, Severson was granted 12,500 restricted shares of common stock on September 16, 2013.  The shares will vest pro rata on a monthly basis over four years. In addition, Severson was granted an option to purchase 10,000 common shares at an exercise price of $4.41 (the closing price per share of the Company's common stock on September 16, 2013 as listed on Nasdaq). The stock option is subject to pro rata annual vesting over four years. These awards are subject to forfeiture in the event of termination of employment (whether voluntary or involuntary) prior to vesting.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,796.09 +17.94 0.10%
S&P 500 2,064.50 +3.27 0.16%
NASDAQ 4,748.9970 +0.6010 0.01%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs