WashingtonFirst Bankshares, Inc. Declares Cash Dividend

  WashingtonFirst Bankshares, Inc. Declares Cash Dividend

Business Wire

RESTON, Va. -- October 21, 2013

WashingtonFirst Bankshares, Inc. (NASDAQ: WFBI) today announced that its Board
of Directors declared a cash dividend of four (4) cents ($0.04) per share
payable on January 2, 2014, to stockholders of record as of December 13, 2013.
The dividend payout of approximately $300,000, on 7.6 million shares of voting
and non-voting common stock, represents what the Company expects to be the
first of regular quarterly cash dividends. Although the Company expects to
declare and pay quarterly cash dividends in the future, any such dividend
would be at the discretion of the Board of Directors of the Company and would
be subject to various federal and state regulatory limitations.

“As we approach our tenth anniversary, we are pleased to be able to recognize
and reward the patience and support of our stockholders as we have built a
sound infrastructure, expanded our branch network, and grown our balance sheet
to more than $1 billion,” said Shaza Andersen, Chief Executive Officer of
WashingtonFirst. The Bank recently reported third quarter net income of $2.1
million or $0.27 per common share. WashingtonFirst common stock is traded on
the NASDAQ Stock Market under the quotation symbol “WFBI” and is included in
the ABA NASDAQ Community Bank Index.

About The Company

WashingtonFirst Bankshares, Inc. is headquartered in Reston, Virginia and is
the holding company for WashingtonFirst Bank, which commenced operations in
2004. WashingtonFirst Bank, which focuses on providing quality, tailored
services to its customers, conducts a full service commercial banking
operation through 15 offices, with nine located in Northern Virginia, three in
Maryland and three in the District of Columbia. For more information about
WFBI, please visit: www.wfbi.com.

Cautionary Statements About Forward-Looking Information

Statements in this news release regarding future events, performance or
results are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements of the goals,
intentions, and expectations of the Company as to future trends, plans,
events, results of operation and general economic condition. In some cases,
forward-looking statements can be identified by use of words such as “may,”
“will,” “anticipates,” “believes,” “expects,” “plans,” “estimates,”
“potential,” “continue,” “should,” and similar words or phrases. Readers are
cautioned against placing undue reliance on these statements. Actual events or
results could be materially different from those expressed or implied by the
forward-looking statements. The ability of the Company to declare and pay
future dividends depends on a number of factors, including but not limited to:
Board of Directors’ and regulatory approval, regulatory capital requirements,
future earnings and cash flow of the Company, regulatory changes and general
economic conditions, our ability to successfully manage and integrate any
assets, liabilities, customers, systems, and management personnel we have
acquired or may in the future acquire into our operations and our ability to
realize related revenue synergies and cost savings within expected time frames
and any goodwill charges related thereto. Additional factors that could cause
actual events or results to differ materially are disclosed in the Company's
recent filings with the Securities and Exchange Commission, including but not
limited to its Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and
Current Reports on Form 8-K. Forward-looking statements are accurate only as
of the date released, and we do not undertake any responsibility to update or
revise any forward-looking statements to reflect subsequent events or
circumstances.

Contact:

WashingtonFirst Bankshares, Inc.
Matthew R. Johnson, 703-840-2422
Executive Vice President & Chief Financial Officer
MJohnson@wfbi.com
www.wfbi.com
 
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