For Immediate Release — August 27, 2018
FAIRFAX, VA AND ROCKVILLE, MD – August 27, 2018 – FVCBankcorp, Inc. (“FVCB”) (OTCQX: FVCB), the holding company for FVCbank, and Colombo Bank (“Colombo”) (OTC PINK: IFSB) jointly announced today that the Virginia Bureau of Financial Institutions and the Maryland Commissioner of Financial Regulation have approved the merger of Colombo Bank with and into FVCbank (the “Merger”). The transaction, which was announced May 3, 2018, remains subject to the approval of Colombo’s shareholders, as well as other closing conditions. Assuming such conditions are satisfied, FVCB and Colombo expect to complete the Merger during the fourth quarter of 2018. The Federal Reserve Bank of Richmond, under delegated authority approved the Merger on July 26, 2018.
About FVCBankcorp, Inc.
Celebrating 10 years of sound financial performance and continued growth, FVCbank commenced operations in November 2007 and is the wholly-owned subsidiary of FVCBankcorp, Inc. FVCbank is a $1.1 billion asset Virginia-chartered community bank serving the banking needs of commercial businesses, nonprofit organizations, professional service entities, and their owners and employees located in the greater Washington, D.C., metropolitan and Northern Virginia area. Locally owned and managed, it is based in Fairfax, Virginia, and has six full-service offices in Arlington, Ashburn, Fairfax, Manassas, Reston and Springfield, Virginia.
About Colombo Bank
Colombo Bank, first known as Apicella Bank, opened in the summer of 1914 in the “Little Italy” area of Baltimore. Advocating the banking needs of the community was and continues to be the foundation for which Colombo has been built. Through a desire to grow and focus on its community roots, the Bank grew from the small branch office in “Little Italy” by adding four additional locations in Rockville, Bethesda, Silver Spring, and the Shaw neighborhood of Washington, D.C. To sustain its operations, which span over its broad and deep markets, the Bank’s headquarters are located in Rockville.