Bank of the James Expands Presence in Central Virginia Markets

Bank of the James Expands Presence in Central Virginia Markets 
Targets Growth, Opportunities in Charlottesville, Appomattox and
LYNCHBURG, VA -- (Marketwired) -- 12/23/13 --  Bank of the James
Financial Group, Inc. (NASDAQ: BOTJ), the parent company of Bank of
the James, a full-service commercial and retail bank serving the
Greater Lynchburg metropolitan statistical area (MSA), commonly known
as "Region 2000," and other markets in Central Virginia, today
announced new locations and expanded market focus. 
The company is broadening its service to the following markets: 

--  North to the four-county Charlottesville, VA MSA, where the bank will
    open a loan processing office immediately outside the city limits of
    the City of Charlottesville in early January, 2014.
--  West to Roanoke, VA, where the bank has recently opened a lending
--  East towards Richmond to Appomattox County, part of the Lynchburg MSA.

Robert R. Chapman III, President and CEO, said: "We are excited about
the prospect of growing our presence in these areas, where we are
already doing some business. We anticipate that these areas will
provide a greater opportunity for growth with an expanded commitment.
During the past several years, we have invested in products,
services, technology, and operational capabilities that position us
to efficiently serve a larger region. 
"We believe that the success of an expansion hinges on quality
people, and we have brought on board several proven, experienced
individuals to anchor our lending and business development in these
markets. Like Region 2000, which is anchored by the City of
Lynchburg, Charlottesville, Appomattox and Roanoke are hubs of larger
regions. We feel our tested approach of serving a geographically
large and diverse region as a community is an excellent fit for these
He noted, for instance, that the City of Lynchburg's population is
approximately 78,000, while the Lynchburg MSA, which includes
Appomattox County, has a population base of more than 255,000
according to the US Census Bureau estimates. The Roanoke MSA has an
estimated population of approximately 310,000, while the four-county
Charlottesville MSA has a population of approximately 223,000.
"Viewed as a whole, these markets offer residential and business
diversity, and plenty of size to support increased banking business,"
Chapman explained. 
Bank of the James will open a loan production office (LPO)
immediately outside the city limits of Charlottesville in the
"Pantops" area on January 13, 2014, headed by a veteran commercial
lender and mortgage lenders to serve the city and four-county
Charlottesville MSA. The bank has established an LPO in Roanoke, VA,
which Chapman says will focus on mortgage lending, commercial
lending, and residential construction lending to residential
homebuilders. Bank of the James continues to serve the Appomattox
area from its current offices, but has purchased land in a prime
location with the eventual goal of opening, subject to regulatory
approval, a full-service banking office.  
The company reported its highest quarterly and nine-month earnings in
Bank of the James' 14-year history for the quarter and nine months
ended September 30, 2013. 
About the Company
 Bank of the James, a wholly owned subsidiary of
Bank of the James Financial Group, Inc., serves the greater
Lynchburg, Virginia MSA, often referred to as Region 2000, which was
ranked by Forbes magazine among the top 50 places in the United
States for business and careers, and other markets in Central
Virginia. The bank operates nine full service locations and one
limited service location as well as mortgage origination offices in
Forest and Roanoke, Virginia and an investment services division in
downtown Lynchburg. The company celebrated its 14th anniversary in
July of 2013. Bank of the James Financial Group, Inc. common stock is
listed under the symbol "BOTJ" on the NASDAQ Stock Market, LLC. 
Cautionary Statement Regarding Forward-Looking Statements
 This press
release contains statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The words "believe," "estimate," "expect,"
"intend," "anticipate," "plan" and similar expressions and variations
thereof identify certain of such forward-looking statements which
speak only as of the dates on which they were made. Bank of the James
Financial Group (the "Company") undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result
of new information, future events, or otherwise. Readers are
cautioned that any such forward-looking statements are not guarantees
of future performance and involve risks and uncertainties, and that
actual results may differ materially from those indicated in the
forward-looking statements as a result of various factors. Such
factors include, but are not limited to competition, general economic
conditions, potential changes in interest rates, and changes in the
value of real estate securing loans made by Bank of the James (the
"Bank"), a subsidiary of Bank of the James Financial Group, Inc.
Additional information concerning factors that could cause actual
results to materially differ from those in the forward-looking
statements is contained in the Company's filings with the Securities
and Exchange Commission and previously filed by the Bank (as
predecessor of the Company) with the Federal Reserve Board. 
J. Todd Scruggs
Executive Vice President and CFO
(434) 846-2000 
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