Industries Banking/Finance

First Virginia Community Bank receives about $21.9 million in gross proceeds from stock sale

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Fairfax-based First Virginia Community Bank has completed its second sale of common stock, garnering gross proceeds of approximately $21.9 million.

The bank sold 1.62 million shares at an offering price of $13.50 per share.

The proceeds of the offering will be used by the bank to support its lending, deposit taking and investing activities, to support its growth and expansion and for general corporate purposes.

BB&T Capital Markets, a division of BB&T Securities LLC was lead sales agent for the offering. Sandler O’Neill + Partners was sales agent.

First Virginia Community Bank, which began operation in November 2007, is a $456 million Virginia chartered community bank.  In addition to its headquarters in Fairfax, it has three additional full-service offices in Arlington, Manassas and Reston.

The bank ranked 14th this among the Fantastic 50, an annual list of the fastest-growing companies in Virginia.


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