updated 4/27/2011 5:46:42 PM ET 2011-04-27T21:46:42

MIDLOTHIAN, Va., April 27, 2011 (GLOBE NEWSWIRE) -- Jack Zoeller, Chairman and CEO of Bank of Virginia (Nasdaq:BOVA) (www.bankofva.com), has announced the hiring of Roy I. Barzel as the Bank's new Executive Vice President and Chief Credit Officer, subject to regulatory approval.

Mr. Barzel brings to Bank of Virginia over 27 years' experience in commercial banking and credit management. His professional expertise includes commercial and real estate loan underwriting, problem loan management, credit policy development, credit administration, risk management and regulatory compliance.

Barzel has spent the bulk of his career with SunTrust Bank and its predecessor organizations, Crestar Bank and United Virginia Bank, in Richmond, VA. Most recently he was a senior vice president and regional senior credit officer in commercial real estate with SunTrust.  In that capacity, he managed a portfolio in excess of $1.25 billion in exposure and oversaw credit underwriting and risk management disciplines for SunTrust at various times in Hampton Roads, Virginia, Maryland and the Greater Washington Region.

"We are delighted to have a chief credit officer of Roy's caliber join Bank of Virginia's management team.  His expertise will contribute to strengthening our credit culture while enabling the bank to grow its loan portfolio prudently and confidently," said Jack Zoeller, Chairman and CEO.

Roy holds a Bachelor of Science degree and a Masters degree in Business Administration from the University of Florida in Gainesville, Florida. He resides in Richmond with his wife, Beth, and their two children Sophie and Jonah.

About Bank of Virginia

Bank of Virginia, a Virginia state chartered bank headquartered in Midlothian, Virginia, currently operates five 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 www.bankofva.com . 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-KSB 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 and CEO

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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