|Lynchburg, VA, June 12, 2012 - Bank of the James Financial Group, Inc. (NASDAQ: BOTJ), the parent company of Bank of the James, a full-service commercial and retail lender, today announced Michael A. Syrek has joined the bank as Executive Vice President and Senior Loan Officer.
Robert R. Chapman III, President and CEO, stated: "Mike brings to us a wealth of experience in commercial lending and relationship management on the banking side, and in corporate financial management as a chief financial officer and controller. This is an unbeatable combination in building and expanding relationships with business clients - an important focus of ours.
"He has demonstrated the ability to lead teams that have generated significant commercial loan portfolio growth while maintaining exceptionally high levels of credit quality. He has also spent much of his professional life in Central Virginia, giving him outstanding perspectives on the businesses, market dynamics and communities we serve. Senior Loan Officer is a new executive position for Bank of the James, and an important one to help us manage the growth we've experienced during the past decade and provide leadership in our growth initiatives."
Syrek joined Bank of the James after nine years with SunTrust Bank in Lynchburg, were he served as a Vice President and Senior Vice President, Relationship Manager, until November 2007, when he was named President. He oversaw an extensive loan portfolio and managed a team of relationship managers in Virginia and West Virginia.
Before joining SunTrust, Syrek served as CFO of Frey Media, Inc. in Hilton Head, SC, Controller and CFO of a publications company based in Richmond, Controller of Highway Service Ventures Inc. in Ashland VA and an Assistant Controller of Marriott International, based in Arlington, VA. He holds a Bachelors of Business Administration degree in accounting from James Madison University.
He has been active in the community, including serving as on the board of the Central Virginia Community College Educational Foundation, a board member of Step with Links and Rush Homes, and for the past six years as a board and Executive Committee member of the Lynchburg Regional Chamber of Commerce. Syrek is also active with the Forest Youth Athletic Association.
About the Company
Bank of the James, a wholly owned subsidiary of Bank of the James Financial Group, Inc., serves the greater Lynchburg, Virginia SMA, often referred to as Region 2000, which was ranked by Forbes magazine among the top 50 places in the United States for business and careers. The bank operates nine full service locations and one limited service location as well as a mortgage origination office in Forest, Virginia and an investment services division in downtown Lynchburg. The company celebrates its 13th anniversary this year.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "estimate," "expect," "intend," "anticipate," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements which speak only as of the dates on which they were made. Bank of the James Financial Group (the "Company") undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Such factors include, but are not limited to competition, general economic conditions, potential changes in interest rates, and changes in the value of real estate securing loans made by Bank of the James (the "Bank"), a subsidiary of Bank of the James Financial Group, Inc. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission and previously filed by the Bank (as predecessor of the Company) with the Federal Reserve Board.
Contact: J. Todd Scruggs, Executive Vice President and CFO
Robert R. Chapman III, President and CEO