The Freedom Bank of Virginia Announces Addition of New Directors

Fairfax, Virginia (April 29, 2019) The Freedom Bank of Virginia (OTCQX: FDVA), (the “Bank” or “Freedom Bank”) announced today that its Board of Directors has nominated Joseph M. English III, Kevin J. Kooman, and Maury Peiperl as directors and will be recommending their election at the company’s annual meeting on May 28, 2019.

“The nomination of these three talented professionals completes the restructuring of our board to a total of nine directors who have deep leadership experience, vast domain knowledge, and unique insight in our local markets,” said H. Jason Gold, Freedom Bank Chairman. “I would also be remiss if I did not recognize the efforts of the six dedicated Directors who have retired since the beginning of 2018, including Richard C. Litman, Craig S. Underhill, Alvin E. Nashman, Terry L. Collins, Robert Falese Jr., and G. Thomas Collins Jr.,” continued Gold. Joseph M. English III (53) has over thirty years of experience as a Certified Public Accountant, registered investment advisor, and personal financial specialist. Joe began his accounting career in 1988 and became a partner at Burdette Smith and Bish LLC in 1998. Mr. English’s focus is on financial reporting, audits, reviews, compilations, tax planning, and compliance for individuals and businesses. He earned a Bachelor of Science in Accounting from Wheeling Jesuit University in Wheeling, West Virginia.

Kevin J. Kooman (49) has over 20 years of investment banking and financial management experience. He is a partner in the private equity firm, Patriot Financial Partners, L.P. Prior to joining Patriot, Kevin served as a Vice President of Investment Banking at Janney Montgomery Scott LLC in the firm’s Financial Institutions Group. He has previously held the positions of Divisional Controller and Manager of Financial Operations at CIGNA Corp and at ACE Limited. He began his career as a CPA in the Philadelphia Office of Arthur Andersen LLP. Maury Peiperl (57) is the Dean of the George Mason University School of Business. Prior to joining George Mason University, he was Director (Dean) of Cranfield School of Management, one of the UK’s leading business schools. Previously, he was Professor of Leadership at IMD in Switzerland, and a professor at the London Business School, where he co-founded the pioneering EMBA-Global. He holds several academic degrees including a BS in Engineering from Princeton University, a Masters of Business Administration, Master of Arts and a PhD from Harvard University.

“I am thrilled and honored to be working with these three incredibly talented leaders as a part of our revitalized and engaged Board of Directors to achieve the new vision for Freedom Bank,” said Joseph J. Thomas, Freedom Bank President and CEO. “Their skill sets and experience will assist the bank and our executives in forging lead relationships with businesses, real estate owners, and professionals across the Northern Virginia/Washington DC MSA, building new industry verticals to deliver unique sector-specific solutions to clients, and utilizing innovative technology to meet the banking needs of our customers in the way they wish to be served,” Thomas added.

About Freedom Bank

Freedom Bank is a community-oriented bank headquartered in Fairfax, Virginia with total assets of $478 million and total deposits of $395 million at March 31, 2019. The bank has locations in Fairfax, Vienna, Reston, and Chantilly and a mortgage division headquartered in Chantilly. The bank’s stock trades on the OTCQX market as FDVA. For information about Freedom Bank’s deposit and loan services, visit the Bank’s website at www.freedombankva.com.

Forward-Looking Statements

This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

Contact:
Joseph J. Thomas
President & Chief Executive Officer
Phone: 703-667-4161
Email: jthomas@freedombankva.com