Bank of Virginia Announces Extension of Rights Offering

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| Source: Bank of Virginia

MIDLOTHIAN, Va., Nov. 2, 2012 (GLOBE NEWSWIRE) -- Bank of Virginia (the "Bank") (Nasdaq:BOVA) (www.bankofva.com), (the Bank) today announced that it has extended its rights offering deadline to 5:00 pm Eastern time on November 13, 2012 from the original expiration date of November 6, 2012. The Bank decided to extend the rights offering because of the effects of Hurricane Sandy and the impediments that the storm may have caused for stockholders seeking to submit their rights offering documents in a timely manner.

The Bank's majority shareholder, Cordia Bancorp Inc., previously announced its investment of $3 million in the Bank's common stock on the same terms being offered to the Bank's minority shareholders in the rights offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state.

The rights offering will be made only by means of the offering circular dated October 12, 2012, copies of which were mailed to all stockholders of record as of September 20, 2012. Stockholders may request a copy of the offering circular by contacting the information agent for the rights offering, Eagle Rock Proxy Advisors, LLC at 855-706-2375 (toll free).

About Bank of Virginia

Bank of Virginia, a state chartered bank headquartered in Midlothian, Virginia, currently operates four full-service offices in the counties of Chesterfield and Henrico, Virginia. Bank of Virginia's common stock is traded on the NASDAQ stock market under the quotation symbol "BOVA". Additional investor relations information can be found on the internet at www.bankofva.com. Bank of Virginia is a member of the FDIC and an Equal Housing Lender.

Jack Zoeller,
Chairman & CEO, 804-763-1333