Freedom Bank Announces Rights Offering

Follows Record Highs for First Half of 2014

Freedom Bank of Virginia (Bank) (OTC.QB:FDVA) announces its intention to provide a rights offering for its shareholders, which will include common stock plus warrants to buy additional common stock. The rights offering is currently planned for the fourth quarter.

On July 24, 2014 the Bank announced record net income, assets, loans and equity capital for the first half of 2014. President & CEO Craig S. Underhill remarked, "To continue our progress we will need to increase capital. There are substantial opportunities today to grow our Bank, particularly in our local market and in the expanding government contractor community that we serve." The rights offering is intended to raise approximately $5 million before expenses, with an overage allowance to be determined. The proceeds of the offering will be used primarily to fund growth. Shareholders are encouraged to attend the Bank’s annual meeting on August 19, 2014, at 10:00 AM, at the Westwood Country Club in Vienna, Virginia.

Freedom Bank is a community-oriented, locally-owned bank with locations in Fairfax, Vienna and Reston, Virginia. For information about deposit and loan services, visit the Bank’s website at www.freedombankva.com. For information about the offering, please contact Craig S. Underhill, President & CEO at [phone] or by email at [e-mail].

FORWARD-LOOKING STATEMENTS

Statements in this release are forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those we anticipate. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. 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 Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. In addition, our past results of operations are not necessarily indicative of future performance. 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. Because the risks, estimates, assumptions and uncertainties referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements, you should not place undue reliance on any forward-looking statements.

Freedom Bank of VirginiaCraig S. Underhill, President & CEO703-242-5300