Profile: Bank of the James (BOTJ.OQ)

BOTJ.OQ on NASDAQ Stock Exchange Capital Market

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Bank of the James Financial Group, Inc. (Financial), incorporated on October 3, 1998, is a bank holding company. The Bank is a Virginia banking corporation. The products and services offered by the Bank are Retail and Commercial Banking, Deposit Services, Lending Services. It also provides mortgage services. Other services offered by the Bank include safe deposit boxes, traveler’s checks, and direct deposit of payroll and social security checks, automatic drafts for various accounts, treasury management services and credit card merchant services. The Bank provides brokerage and investment services through the Bank’s Investment division. The Bank’s market area primarily consists of Region 2000, which encompasses the seven jurisdictions of the Town of Altavista, Amherst County, Appomattox County, the City of Bedford, Bedford County, Campbell County, and the City of Lynchburg.

Retail and Commercial Banking

The Bank conducts business within Region 2000 from nine full-service offices and one limited service office. Four of the full-service offices are located in Lynchburg, Virginia, one full-service location is located in Madison Heights, Virginia, one is located in the Town of Amherst, Virginia, one is located in Forest, Virginia, one is located in the City of Bedford, Virginia and one is located in the Town of Altavista, Virginia. The limited services branch is located in the Westminster-Canterbury facilities in Lynchburg. The Bank established a mortgage loan origination division that conducts business under the name “Bank of the James Mortgage, a Division of Bank of the James.” The mortgage division conducts business primarily from the division’s main office located in the Forest branch of the Bank. In addition, in 2013 the Bank expanded into Charlottesville, Virginia with a loan production office and Roanoke, Virginia with a mortgage production office.

Deposit Services

Deposits are one of the sources of the Bank’s funding. The Bank offers a range of deposit services, including checking accounts, savings accounts and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. The Bank offers its customers Individual Retirement Accounts (IRAs) and Health Care Savings Accounts (HSAs). All deposit accounts are insured by the Federal Deposit Insurance Corporation (the FDIC). The Bank solicits such accounts from individuals, businesses, associations and organizations, and governmental authorities.

Lending Services

The Bank offers a range of short- to medium-term commercial and consumer loans. Its primary focus is on making loans to small businesses and consumers in the Region 2000 market area. In addition, it also provides a wide range of real estate finance services. Commercial loans include both secured and unsecured loans for working capital (including inventory and receivables), business expansion (including acquisition of real estate and improvements), and purchase of equipment and machinery. Consumer loans include secured and unsecured loans for financing automobiles, home improvements, education and personal investments. Additionally, the Bank originates fixed and floating-rate mortgage loans and real estate construction and acquisition loans. Where appropriate, the Bank attempts to limit interest rate risk through the use of variable interest rates and terms of less than five years. As of March 15, 2014, the Bank had approximately 120 full-time equivalent employees.

Company Address

Bank of the James

828 Main Street
LYNCHBURG   VA   24504
P: +1434.8462000
F: +1434.8464450

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