Xenith Bankshares, Inc. Announces Retirement of Director and Board Chairman
RICHMOND, Va., Jan. 23, 2014 (GLOBE NEWSWIRE) -- Xenith Bankshares, Inc.
(Nasdaq:XBKS), parent company of Xenith Bank, today announced that its Board
Chairman will not stand for re-election to the company's board of directors at
the company's annual meeting of shareholders scheduled for May 1, 2014.
Malcolm S. McDonald, a director of the company since 2009, will retire from
the company's board effective at the expiration of his current term at the May
1 meeting. McDonald is the former Chairman and CEO of Signet Banking
"Mac has provided invaluable guidance and leadership as a board member and
Chairman since our formation in 2009," said T. Gaylon Layfield, III, President
and CEO. "His deep banking and public company experience uniquely qualified
him to be a guiding force in our development. While we will miss Mac greatly,
we wish him the very best in his well-deserved retirement."
Xenith Bankshares, Inc. is the holding company for Xenith Bank. Xenith Bank is
a full-service, locally-managed commercial bank, specifically targeting the
banking needs of middle market and small businesses, local real estate
developers and investors, private banking clients, and select retail banking
clients. As of September 2013, the company had total assets of $606.3 million
and total deposits of $495.8 million. Xenith Bank's target markets are the
Greater Washington, DC, Richmond, VA, and Greater Hampton Roads, VA
metropolitan statistical areas. The company is headquartered in Richmond,
Virginia and currently has six branch locations in Tysons Corner, Richmond and
Suffolk, Virginia. Xenith Bankshares common stock trades on the NASDAQ Capital
Market under the symbol "XBKS."
For more information about Xenith Bankshares and Xenith Bank, visit:
CONTACT: Thomas W. Osgood
Executive Vice President, Chief Financial Officer,
Chief Administrative Officer and Treasurer
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