updated 4/29/2011 5:16:47 PM ET 2011-04-29T21:16:47

MIDLOTHIAN, Va., April 29, 2011 (GLOBE NEWSWIRE) -- Jack Zoeller, Chairman and CEO of Bank of Virginia (Nasdaq:BOVA) (www.bankofva.com) and President and CEO of Cordia Bancorp, announced the election of Todd Thomson to both the Bank's and Cordia's Board of Directors.

Mr. Thomson is Chairman of Dynasty Financial Partners and founder and CEO of Headwaters Capital, a proprietary investment business. Mr. Thomson was formerly Chairman and CEO of Citigroup Global Wealth Management, comprised of Smith Barney, The Citigroup Private Bank, and Citigroup Investment Research. Mr. Thomson also served for five years as Citigroup CFO, where he led operations, strategy and all finance functions, and oversaw Citigroup Alternative Investments, with approximately $15 billion in hedge funds, private equity, and credit structures.

Previously, Mr. Thomson served as CEO of the Citigroup Private Bank from 1999 to 2000 and Senior Vice President of Acquisitions and Strategy from 1998 to 1999. He also served as Vice Chairman of Citibank, N.A. His prior experience includes EVP of Acquisitions and Strategy for GE Capital; Partner, Barents Group; and Manager at Bain and Co. Mr. Thomson is also a member of the Board of the World Resources Institute and the Board of Trustees of Davidson College and Chair of the Wharton Leadership Center Advisory Board.

"We are pleased and fortunate to have Todd Thomson as a colleague on both the Bank of Virginia and Cordia Bancorp boards of directors. Todd has already made a substantial contribution as a co-founder of Cordia.  Quite obviously he brings an incredible talent and expertise from his years at Citigroup and G.E. Capital – particularly in strategy and mergers and acquisitions.  Todd's addition to both boards reflects our commitment to building a highly talented team that remains focused on achieving our strategic goals in the mid-Atlantic," said Jack Zoeller, Chairman and CEO of Bank of Virginia and CEO of Cordia.

Mr. Thomson is a graduate of Davidson College and received his MBA, with distinction, from the Wharton School of the University of Pennsylvania. 

His election to the Bank of Virginia board is subject to regulatory approval.

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.

About Cordia Bancorp Inc.

Cordia Bancorp, incorporated in Virginia in 2009, is a private bank holding company. Additional information can be found on the internet at www.cordiabancorp.com.

DISCLAIMER

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, 804-763-1333

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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