Source: Bank of the James

Bank of the James Financial Group, Inc. Declares Increased Dividend

LYNCHBURG, VA--(Marketwired - May 20, 2015) - At its Annual Meeting of Shareholders held on May 19, 2015, Bank of the James Financial Group, Inc. (NASDAQ: BOTJ), the parent company of Bank of the James, a full-service commercial and retail bank serving the Greater Lynchburg MSA, commonly known as "Region 2000" and other markets in Central Virginia, announced that the Board of Directors of the Company declared a quarterly cash dividend of $0.06 per share of common stock to be paid on or about September 25, 2015 to shareholders of record as of the close of business on September 11, 2015. This dividend represents a 20% increase from the most recent quarterly dividend which was declared on April 21, 2015.

Future dividends will be subject to board approval and will continue to be reviewed by the board on a quarter-to-quarter basis. The declaration of this dividend does not commit the Board of Directors to declare future dividends or the amount thereof.

About the Company

Bank of the James, a wholly owned subsidiary of Bank of the James Financial Group, Inc., serves the greater Lynchburg, Virginia MSA, often referred to as Region 2000, and other markets in Central Virginia including Charlottesville, Harrisonburg and Roanoke. The bank operates nine full service locations, one limited service branch, two loan production offices, and an investment services division. Bank of the James Financial Group, Inc. common stock is listed under the symbol "BOTJ" on the NASDAQ Stock Market, LLC.

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 Information:

J. Todd Scruggs
Executive Vice President and CFO
(434) 846-2000