Tysons-based Old Dominion National Bank said it has raised $22.4 million in new funding.
The latest round brings the bank’s total funding to more than $91 million within three years. About a third of the more than 165 investors in the most recent round were originally supporters of the now defunct VisionBank effort, Old Dominion said. That effort ended in August when Vision Bank CEO Mindi McClure and Chief Operating Officer Richard Horn ended that fundraising effort and joined Old Dominion instead.
I first reported in August of Old Dominion’s plans to raise between $20 million and $40 million, which had been detailed in a note to investors. I also reported on the end of VisionBank and its withdrawal from the new bank application process.
“We’re building a true community bank in ODNB, and we are very proud to count the more than 165 accredited individual investors from throughout our footprint who participated in this offering among our shareholders,” Chairman and CEO Mark S.…Read the full story from the Washington Business Journal.