Press Release

Freedom Bank Board of Directors Elects H. Jason Gold Chairman

Company Release - 7/20/2018 11:25 AM ET

FAIRFAX, Va.--(BUSINESS WIRE)-- The board of directors of the Freedom Bank of Virginia (OTCQX:FDVA) announced that H. Jason Gold, a founding and the longest serving director, was elected Chairman of the Board of Directors on July 17, 2018. He succeeded Richard Litman, who retired as Chairman after eleven years in that role.

Gold, 63, has served as a director of the bank since its founding in July 2001 and currently serves as the Chairman of the Strategic Planning Committee. He is a partner at the national law firm of Nelson Mullins Riley & Scarborough LLP and has been active in the local business community for nearly 40 years. Prior to joining Nelson Mullins in 2015 he was a partner in the Washington, D.C. law firm of Wiley Rein LLP for twelve years. Prior to that he was the managing partner of Gold Morrison & Laughlin PC dating back to 1985. Born and raised in Brooklyn, New York, he moved to the D.C. area in 1972 and with his wife Margi raised his two sons in Northern Virginia.

CEO Craig Underhill said, “We are very fortunate at this juncture of our development to have an individual with the experience and history with the bank that Jason has to step in and lead us in the next phase of our development. Management and the board are excited to work with Jason on implementing the Bank’s plan to become the preeminent community bank in Northern Virginia.”

“The shareholders of Freedom Bank are fortunate to have such an outstanding and dedicated group of individuals employed at the bank. My goal is to give them whatever support they need to continue the growth and profitability of the bank in perhaps the most dynamic and growing banking and business markets in the country,” said Gold. He added, “Equally important are the thousands of customers who we serve. We will continue to work hard to provide them with the very best competitive rates and quality service possible.”

Richard Litman said, “Jason has served on the bank’s board since the beginning. In addition he and his law firm have represented a host of community, regional and national banks since the 1980’s. I remain on the board and look forward to continuing to promote the interests of the bank.”

CEO Craig Underhill said, “We thank Richard for his boundless energy and tireless efforts to help get Freedom Bank to the $500 million bank we are now. We all appreciate his many contributions to the bank.”

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.

The Freedom Bank of Virginia
Craig S. Underhill
President & Chief Executive Officer
703-242-5300
cunderhill@freedombankva.com

Source: The Freedom Bank of Virginia

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