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Bank of Virginia Appoints Nancy Corsiglia as CFO

MIDLOTHIAN, Va., March 25, 2011 (GLOBE NEWSWIRE) -- Bank of Virginia (Nasdaq:BOVA) (, announced Nancy Corsiglia as Executive Vice President and Chief Financial Officer.
/ Source: GlobeNewswire

MIDLOTHIAN, Va., March 25, 2011 (GLOBE NEWSWIRE) -- Bank of Virginia (Nasdaq:BOVA) (), announced Nancy Corsiglia as Executive Vice President and Chief Financial Officer.

"Bank of Virginia's board of directors is extremely pleased to have Nancy on our senior management team," Jack Zoeller, Chairman and CEO of Bank of Virginia, said. Nancy assumed the position of interim Chief Financial Officer during the 4th quarter of 2010, and quickly became a valuable contributor and advisor to the Bank's management and Board.

Mr. Zoeller continued: "As a highly trained financial executive, Nancy brings great talent and a depth of knowledge to Bank of Virginia. In addition, her valuable experience and expertise in financial management and strategy, including capital markets, treasury operations, asset-liability management, financial disclosure, Sarbanes-Oxley compliance and corporate governance makes her uniquely qualified to serve in the critical role of Chief Financial Officer. We are indeed fortunate to have Nancy at Bank of Virginia.

"Ms. Corsiglia has had an outstanding career in finance."

She served for 15 years as Chief Financial Officer of the Federal Agricultural Mortgage Corporation (FAMC), a New York Stock Exchange listed corporation. She co-started and was instrumental in building FAMC from a start-up into both a national secondary market for agricultural and rural loans and a financial guarantor with a $10 billion book of business. Previously she was a Vice President of Federal Government Finance at Paine Webber Inc. and a Manager in the Treasurer's Office of General Motors Corporation. She started her career in commercial banking in New York City. Currently she is a member of the Board of Directors of the Private National Mortgage Acceptance Company Mortgage Opportunity Funds and a member of the Board of Trustees of the Stoneleigh-Burnham School. She holds an MBA from the Tuck School of Business at Dartmouth College and an AB in Economics from Smith College.

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 . Bank of Virginia is a member of the FDIC and 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, 804-763-1333