Freedom Bank Announces $4 Million Common Stock Offering to Fuel Growth

The Freedom Bank of Virginia (Bank) (OTCQX: FDVA) announces that following the bank's record performance during the first half of 2014 in terms of assets, loans, and net income, the Board of Directors of The Freedom Bank of Virginia approved a $4 million stock offering. The offering will open to the public on November 3, 2014 and will close out at the earlier of being fully subscribed or November 28, 2014. The offering may be increased to $4.8 million or extended at the discretion of the Board.

The shares of common stock will be priced at $9.00 per share. The proceeds will be used for general corporate purposes, which may include improving the regulatory capital position and supporting future growth.

Purchasers of shares in this offering will be entitled to participate in the previously announced Rights Offering to shareholders, scheduled to begin on or about December 8, 2014. The Rights Offering consists of units of our common stock and warrants to purchase our common stock at an exercise price of $9.00 per share.

CEO Craig S. Underhill said, “Freedom is raising additional capital to take advantage of market conditions. This public offering is an opportunity for local community bank investors in recently acquired banks to reinvest in a rapidly growing and profitable local bank."

For more information on the offering, please contact Craig S. Underhill, President & CEO at [phone] or email at [e-mail].

Freedom Bank is a community-oriented, locally-owned bank with locations in Fairfax, Vienna and Reston, Virginia. For information about Freedom Bank’s deposit and loan services, visit the Bank’s website at www.freedombankva.com.

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 VirginiaCraig S. Underhill, President & CEO703-242-5300