TAPPAHANNOCK, Va., June 15, 2016 /PRNewswire/ -- Eastern
Virginia Bankshares, Inc. (NASDAQ: EVBS) (the "Company"), the one
bank holding company of EVB (the "Bank"), announced today that it
will be relocating its Corporate Headquarters to 10900 Nuckols
Road, Glen Allen, VA in early fall
2016.
"Our new corporate headquarters, located in the Innsbrook
business park, will allow us to integrate corporate departments
from other locations throughout our footprint" said Joe A. Shearin, President and Chief Executive
Officer. "Currently, key members of our Executive Leadership
Team, as well as other corporate departments, are remotely located
in various locations. This relocation will allow us to integrate
key corporate departments in one location which we believe will
increase collaboration and productivity, while
gaining operating efficiencies throughout the Company. Our new
headquarters will also provide us the space and flexibility needed
to continue to grow and reach new customers."
The main office of the Company's bank subsidiary, EVB, will
remain in Tappahannock, Virginia
and continue the Bank's heritage that began in 1910 of serving the
Northern Neck and Middle Peninsula markets. Our customers will
continue to be served by EVB's local branches and relationship
managers that they know and trust.
Eastern Virginia Bankshares, Inc. is a one bank holding company
with total assets of $1.3 billion at
March 31, 2016. Through its
wholly-owned bank subsidiary, EVB, the Company operates twenty-four
full service branches, two drive-in facilities and one loan
production office located in the following cities and counties in
eastern Virginia: Chesterfield, Colonial Heights, Essex, Gloucester, Hampton, Hanover, Henrico, King
William, Lancaster,
Middlesex, Newport News, New
Kent, Northumberland,
Southampton, Surry, Sussex
and Williamsburg. EVB's range of
financial services includes traditional banking services along with
investments, mortgages, and insurance.
EVB traces its history to the combination of its three
predecessor banks in 2006 – Southside Bank and Bank of Northumberland, Inc., both established in
1910, and Hanover Bank, established in 2000. Today, EVB is a
community bank targeting small to medium-sized businesses and
consumers. EVB is a state leader in SBA lending and is the only
bank in the Commonwealth of Virginia offering a fully integrated program
called P.O.W.E.R. that focuses on women entrepreneurs and women in
business.
For more information about EVB, please visit www.bankevb.com.
The Company's stock trades on the NASDAQ Global Select Market under
the symbol EVBS. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
Certain statements contained in this release that are not
historical facts, including the anticipated impacts of the
headquarters relocation, may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. In addition, certain statements may be
contained in the Company's future filings with the Securities
Exchange Commission ("SEC"), press releases, and oral and written
statements made by or with the approval of the Company that are not
statements of historical fact and constitute forward-looking
statements. Words such as "believes," "anticipates,"
"expects," "intends," "targets," "continue," "remain," "will,"
"should," "may" and other similar expressions are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements.
Forward-looking statements involve risks and uncertainties that
may cause actual results to differ materially from those discussed
in or implied by such statements. Factors that could cause actual
results to differ from those discussed in or implied by the
forward-looking statements include, but are not limited to, (i)
changes in government monetary policy, interest rates, deposit
flow, the cost of funds, and demand for loan products and financial
services that impact the financial condition or results of
operations of the Company; (ii) other circumstances that may be out
of the control of the Company; and (iii) other risk factors
disclosed in the Company's filings with the SEC.
Although the Company believes that its expectations with respect
to the forward-looking statements are based upon reliable
assumptions and projections within the bounds of its knowledge of
its business and operations, there can be no assurance that actual
results, performance, actions or achievements of the Company will
not differ materially from any future results, performance, actions
or achievements expressed or implied by such forward-looking
statements. Readers should not place undue reliance on such
statements, which speak only as of the date of this release. The
Company does not undertake any obligation to update any
forward-looking statement that may be made from time to time by it
or on its behalf.
Contact: Adam Sothen
Chief Financial Officer
Voice: (804) 443-8404
Fax: (804) 445-1047
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SOURCE Eastern Virginia Bankshares, Inc.
