Press Release

P. Kip Huffman Joins Freedom Bank as Senior Vice President & Controller

Company Release - 1/22/2019 7:46 AM ET

New Hire Brings Key Talent to Freedom Bank’s Finance Team

FAIRFAX, Va.--(BUSINESS WIRE)-- The Freedom Bank of Virginia (OTCQX: FDVA) today announced the hiring of Kip Huffman as Senior Vice President & Controller.

“Kip Huffman is an excellent addition to the Freedom Bank leadership team,” said Joe Thomas, President and CEO. “He brings demonstrated accounting experience and will be an asset in assisting with bank wide finance functions, ALCO, and regulatory reporting. Kip fills an important role to strengthen the Bank’s financial reporting and prepare the Bank for higher levels of profitability and accelerated growth.”

In his role as Controller, Mr. Huffman will have oversight of the accounting department. Mr. Huffman, along with the finance team, will work together to ensure that each line of business has improved financial metrics and business intelligence to better manage the company.

“I am excited to join the Freedom Bank team as Senior Vice President & Controller,” said Kip Huffman. “I look forward to being a part of this successful team and contributing to the new direction and growth of the company.”

Kip brings 10 years of finance experience, and is a licensed CPA. He was most recently employed by Elliott Davis LLC, where he was a Senior Manager. At Elliott Davis he was responsible for the oversight of nine external audits including two SEC registrants. He also oversaw numerous internal audits for clients throughout South Carolina, North Carolina, Virginia, Tennessee, and Georgia.

About Freedom Bank

Freedom Bank is a community-oriented bank headquartered in Fairfax, Virginia with total assets of $518 million and total deposits of $438 million at September 30, 2018. The bank has locations in Fairfax, Reston, Chantilly and Vienna 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.

Joseph J. Thomas, CFA
President and CEO
703-667-4161
jthomas@freedombankva.com

Source: Freedom Bank of Virginia

Suite 100, 10555 Main Street,
Fairfax, VA 22030
(703) 242-5300
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Vienna, VA 22180
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Chantilly, VA 20151
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4211 Pleasant Valley Road
Chantilly, VA 20151
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