OAK VIEW NATIONAL BANK ANNOUNCES STOCK OFFERING
Warrenton, VA (June 11, 2012) –
Oak View National Bank announced today that it has commenced a community offering of 600,000 shares of its common stock. The offering price is $5.00 per share and minimum subscription amount is 2,000 shares. The community offering will expire at 5:00 p.m. on July 12, 2012. The offering proceeds will be used to expand our loan and investment portfolios, to provide capital to support additional growth opportunities including opening or acquiring additional branches, and for general corporate purposes.
As of March 31, 2012, Oak View National Bank had total asset of $121.1 million, gross loans of $99.9 million, deposits of $102.1 million, and shareholders' equity of $9.5 million. Oak View National Bank is a community bank headquartered in Warrenton, Virginia. We conduct our business through two full-service banking offices located in Warrenton and Marshall, Virginia, and we operate a Loan Production Office in Culpeper, Virginia. Our primary market area includes Fauquier and Culpeper Counties of Virginia. Oak View National Bank began operations in Warrenton and Marshall on June 8, 2009.
The bank's deposits are insured up to applicable limits by the FDIC. Our principal executive office is located at 128 Broadview Avenue, Warrenton, Virginia 20186 and our telephone number is (540) 359-7100. Our website is www.oakviewbank.com. Information on this website is not part of the prospectus. We have applied to have our common stock qualified for trading on the OTC Bulletin Board under the symbol "OVNB.OB" and to have that application effective after the closing of the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction.
Copies of the prospectus for the community offering may be obtained by contacting the bank at (540) 359-7100
This press release contains forward-looking statements regarding future events. These statements are only predictions and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include risks of managing our growth, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to be materially different from those in the forward-looking statement is contained in the Company's filing with the Office of the Controller of the Currency. Oak View National Bank undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.
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