Bank of Virginia
Cordia Bancorp Inc. Completes Share Exchange With Bank of Virginia
MIDLOTHIAN, Va., March 29, 2013 (GLOBE NEWSWIRE) -- Cordia Bancorp Inc. (Nasdaq:BVA) announced today that it has completed its share exchange with Bank of Virginia (the "Bank") resulting in the Bank becoming a wholly owned subsidiary of Cordia Bancorp. Under the terms of the Agreement and Plan of Share Exchange between Cordia Bancorp and the Bank, each outstanding share of Bank common stock owned by persons other than Cordia Bancorp have been exchanged for 0.664 of a share of Cordia Bancorp common stock. Shares of Cordia Bancorp are listed on The Nasdaq Stock Market on under the symbol "BVA". As a result of the reorganization, Cordia has approximately 2,778,900 shares of common stock outstanding. Shareholders of the Bank will receive information shortly on how to exchange their shares of Bank common stock for shares of Cordia Bancorp common stock.