Bank of Virginia Launches Two Strategic Initiatives

Bank of Virginia Launches Two Strategic Initiatives

Mortgage and Student Loan Programs Totaling $83 Million Enhance Bank's Growth

MIDLOTHIAN, Va., March 20, 2013 (GLOBE NEWSWIRE) -- Bank of Virginia (the
"Bank") (Nasdaq:BOVA) (, announced it has initiated two
high-quality, low-risk programs involving U.S. agency-backed loans to enhance
the Bank's organic growth strategy.  Bank of Virginia has committed to a $60
million participation in residential mortgage loans packaged primarily for
sale to Government Sponsored Enterprises, such as Fannie Mae and Ginnie Mae;
and arranged the purchase of a $23 million rehabilitated student loan
portfolio backed by the federal government's guarantee. The Bank intends to
hold the student loans to maturity.

The initiatives reflect Bank of Virginia's strategy to align with nationally
recognized counter-parties in support of each program.In residential
mortgages, the Bank is partnering with Stonegate Mortgage Corporation, one of
the nation's largest and fastest growing independently-owned mortgage lenders
and servicers.In student loans, the Bank is partnering with GradCapital, LLC,
which advises universities and financial institutions on educational financial
solutions and Xerox Education Services, a premier servicer of student loan

"While Bank of Virginia remains focused on core loan growth in our local
Virginia markets, we are pleased to announce these two extraordinary
initiatives that will enhance the Bank's earnings, credit quality and
portfolio diversity," said Jack Zoeller, Chairman and CEO of Bank of
Virginia."We are being opportunistic in leveraging the depth and experience
of the Bank's board of directors and our credit and lending team led by
President Richard Dickinson. We continue to seek high quality loans to support
our targeted growth of approximately $100 million in assets beginning in late

                            About Bank of Virginia

Bank of Virginia, a state chartered bank headquartered in Midlothian,
Virginia, currently operates four full-service offices in the counties of
Chesterfield and Henrico, Virginia. Bank of Virginia's common stock is traded
on the NASDAQ stock market under the quotation symbol "BOVA". Additional
investor relations information can be found on the internet at Bank of Virginia is a member of the FDIC and an Equal
Housing Lender.


This news release may include forward-looking statements. These
forward-looking statements are based on current expectations that involve
risks, uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize or should underlying assumptions prove incorrect,
actual results may differ materially. These risks include: changes in business
or other market conditions; the timely development, production and acceptance
of new products and services; the challenge of managing asset/liability
levels; the management of credit risk and interest rate risk; the difficulty
of keeping expense growth at modest levels while increasing revenues; and
other risks detailed from time to time in the Bank's periodic filings with the
Board of Governors of the Federal Reserve System, including the Bank's annual
report on Form 10-K as filed with the Board of Governors of the Federal
Reserve. Pursuant to the Private Securities Litigation Reform Act of 1995, the
Bank does not undertake to update forward-looking statements contained within
this news release.

CONTACT: Jack Zoeller, Chairman & CEO, 804-763-1333
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