Oak View Bankshares, Inc. Announces Completion of Common Stock Offering
Oak View Bankshares, Inc. Announces Completion of Common Stock Offering
WARRENTON, VA / ACCESS Newswire / April 2, 2025 / Oak View Bankshares, Inc. (the "Company") (OTC PINK:OAKV), parent company of Oak View National Bank (the "Bank"), announced today that the Company has completed a private placement of 558,227 shares of common stock at a price of $14.00 per share (the "Offering"). The Company expects gross proceeds from the Offering of approximately $7.8 million, which will be used for general corporate purposes.
Michael Ewing, CEO and Chairman of the Board, stated, "We are pleased to announce the successful completion of the private placement. This offering positions us for future growth opportunities that we believe will further enhance shareholder value."
Performance Trust Capital Partners, LLC served as the Company's exclusive financial advisor for the Offering. Williams Mullen served as legal counsel to the Company.
About Oak View Bankshares, Inc. and Oak View National Bank
Oak View Bankshares, Inc. is the parent bank holding company for Oak View National Bank, a locally owned and managed community bank serving Fauquier, Culpeper, Rappahannock, and surrounding Counties. For more information about Oak View Bankshares, Inc. and Oak View National Bank, please visit our website at www.oakviewbank.com. Member FDIC.
For additional information, contact Tammy Frazier, Executive Vice President & Chief Financial Officer, Oak View Bankshares, Inc., at 540-359-7155.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release about expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "would," "predict," "potential," "believe," "likely," "expect," "anticipate," "seek," "estimate," "intend," "plan," "project" and similar expressions. Accordingly, these statements involve estimates, assumptions, and uncertainties, and actual results may differ materially from those expressed in such statements. The following factors could cause the Company's actual results to differ materially from those projected in the forward-looking statements made in this document: changes in assumptions underlying the establishment of allowances for credit losses, and other estimates; the risks of changes in interest rates on levels, composition and costs of deposits, loan demand, and the values and liquidity of loan collateral, securities, and interest sensitive assets and liabilities; the effects of future economic, business and market conditions; legislative and regulatory changes, including changes in banking, securities, and tax laws and regulations and their application by our regulators; the Company's ability to maintain adequate liquidity by retaining deposit customers and secondary funding sources, especially if the Company's or banking industry's reputation becomes damaged; computer systems and infrastructure may be vulnerable to attacks by hackers or breached due to employee error, malfeasance, or other disruptions despite security measures implemented by the Company; risks inherent in making loans, such as repayment risks and fluctuating collateral values; governmental monetary and fiscal policies; changes in accounting policies, rules and practices; competition with other banks and financial institutions, and companies outside of the banking industry, including companies that have substantially greater access to capital and other resources; demand, development and acceptance of new products and services; problems with technology utilized by the Company; changing trends in customer profiles and behavior; success of acquisitions and operating initiatives, changes in business strategy or development of plans, and management of growth; reliance on senior management, including the ability to attract and retain key personnel; and inadequate design or circumvention of disclosure controls and procedures or internal controls. These factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by the Company, and you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and the Company does not undertake any obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict which will arise. In addition, the Company cannot assess the impact of each factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
SOURCE: Oak View Bankshares, Inc.
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