October 1, 2007
Press Release - Washington, DC - WashingtonFirst Bank is excited to announce a $5 million community development loan program. This program will target the lending needs of the low-to-moderate income borrowers within the communities the Bank services. This program will have a broad reach to individuals and businesses in providing funding for affordable housing projects, first time home purchases and small business operations. Funds are available now through the close of 2008 calendar year. Jay Brigania, Vice President, will be the program director for WashingtonFirst Bank.
WashingtonFirst Bank is a full service community bank with $240MM in assets and nine branches located in the District of Columbia, Virginia and Maryland. For information on our services please visit our web site at www.washingtonfirstbank.com.
July 28, 2006
Press Release - Washington, DC – WashingtonFirst Bank is pleased to announce the opening of a branch office located at 11636 Plaza America Drive, Reston, VA 20190. This will be the 4th location for WashingtonFirst.
“We are very excited about opening an office in the Reston market ,” said Shaza L. Andersen, CEO of WashingtonFirst. “This location advances our strategic plan to have a well positioned footprint in the Greater Washington DC region.” WashingtonFirst maintains a strong focus on providing a high level of customer service and building banking relationships.
May 19, 2006
Press Release – WashingtonFirst Bank and First Liberty Bancorp, Inc., parent of First Liberty National Bank, today announced a definitive merger agreement. WashingtonFirst Bank, the first bank chartered by the District of Columbia, will be the surviving bank, and three members of the First Liberty Board of Directors will join the Board of WashingtonFirst. Financial terms of the transaction were not disclosed.
“I am excited about this merger as it will enable us to enter into the Maryland market, increase our DC presence, and more effectively service our customers,” said Shaza L. Andersen, CEO of WashingtonFirst. “This merger will continue our momentum of growth which is consistent with our strategic plan. The economies of scale derived from this transaction should benefit the shareholders and customers of both companies.”
Russell Grimes, President and CEO of First Liberty, stated, “I am excited about partnering with WashingtonFirst. This merger will expand the opportunities for our customers, shareholders and employees.”
As of March 31, 2006, First Liberty reported $92 million in assets, $33 million in loans and $76 million in deposits, which combined with WashingtonFirst totals $212 million in assets. First Liberty operates one branch in the District of Columbia and three branch locations in Maryland. WashingtonFirst has two branches in Washington, DC, and two in Northern Virginia. This transaction will enable WashingtonFirst to be one of a few community banks to be represented in all three local jurisdictions.
Dr. Madhu K. Mohan, Chairman of the Board of First Liberty, said “I am pleased with this transaction with WashingtonFirst, a banking franchise of talented professionals providing high quality financial services.”
It is anticipated that the merger will be completed in the fourth quarter of 2006 pending approval by the stockholders of First Liberty and banking regulators. Danielson Associates acted as First Liberty’s financial advisor and Ober Kaler served as First Liberty’s legal counsel. Bracewell & Giuliani LLP served as legal counsel for WashingtonFirst Bank, and RP Financial provided the fairness opinion for WashingtonFirst.
April 4, 2005
WashingtonFirst Bank announces its third branch opening. The new branch located at 46901 Cedar Lakes Plaza, Sterling, VA, opens today. With this opening, not only will our new customers be able to access their accounts online and via the ATM 24 hours a day, seven days a week, they will be able to take advantage of our drive-thru and this branch’s extended hours. We are looking forward to servicing the needs of our new customers. Management and staff at this branch are experienced banking professionals who believe in and employ the high quality customer service standards that WashingtonFirst Bank is known for.
We welcome you to come by the branch to view our new branch and to meet management and staff.
November 19, 2004
Our second branch, located at 1025 Connecticut Avenue, NW, Washington, DC 20036, will open on
Monday, November 22, 2004. With this new addition, you will have access to the 24 hour ATM banking service.
We are excited about meeting our new customers and servicing their financial
needs. Management and staff at this branch are experienced banking professionals who believe in and
employ the high quality customer service standards that WashingtonFirst Bank is known for.
We welcome you to come by the branch to view our new branch and to meet management and staff.
June 15, 2004
On April 16, 2004 WashingtonFirst Bank became the first District of Columbia chartered bank to open for
business. The Bank held a Grand Opening celebration on May 26, 2004. On hand for the celebration were
the directors, investors, management and employees of the Bank. Recognizing the historic event for the
District, Congresswoman Eleanor Holmes Norton assisted with the ribbon cutting ceremony along with Larry
Mirel, Commissioner of the DC Department of Insurance, Securities & Banking. Among those political
dignitaries representing the District were DC Councilwoman Sharon Ambrose and Mayor Tony Williams.
Attendees proudly shared in the festivities and recognized the hard work that resulted in this opening.
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