Richard A. Hutchison Joins Freedom Bank

The Freedom Bank of Virginia (Bank) (OTCQX: FDVA) announces Richard A. Hutchison joins Freedom Bank of Virginia as Senior Vice President and Chief Mortgage Officer and member of the bank’s senior management team. Hutchison was previously with Virginia Heritage Bank as a Senior Executive Officer and the Chief Mortgage Officer responsible for all mortgage loan production and first trust mortgage origination. Virginia Heritage Bank merged with Eagle Bank Corp in October of 2014. Prior to Virginia Heritage Bank, Hutchison was a Senior Executive Officer with Community Bank of Northern Virginia, which was sold to Mercantile and PNC. Hutchison joins Jamie K. Adkins, previously the Senior Mortgage Operations Officer of Virginia Heritage Bank, who is now the Senior Mortgage Operations Officer of Freedom Bank. Hutchison and Adkins built a very successful platform at Virginia Heritage Bank leveraging technology to ensure delivery of mortgage products to their clients and Loan Officers. Hutchison stated, “I am confident that we can bring that same platform to Freedom Bank.”

Richard Hutchison Joins Freedom Bank as Chief Mortgage Officer (Photo: Business Wire)

CEO Craig S. Underhill said, “We are very excited to attract mortgage professionals of the quality of Hutchison and Adkins to Freedom Bank. We believe they can take our mortgage division to the next level. Hutchison and I worked together at Dominion Bank, previously, so I know he is a proven high achiever.”

In addition to running the mortgage division, Mr. Hutchison will assist senior management in attracting and retaining certain high value relationships. C. Kevin Curtis, Chief Lending Officer, indicated, “I have known Hutchison for many years and am excited to work with him to grow both of our lines of business. We know many of the same members in the business community and expect to increase our success working as a team to accelerate the growth and success of Freedom Bank.“

Hutchison is a native of Western Fairfax County and has been in local community banking for 35 years. He is a strong supporter of the Virginia Bankers Association and the Virginia Mortgage Lenders Association. “I want mortgage services for Virginia residents provided through local Virginia banks,” stated Hutchison.

Freedom Bank is a community-oriented, locally-owned bank with locations in Fairfax, Vienna and Reston, Virginia. For information about Freedom Bank’s deposit and loan services, visit their website at www.freedombankva.com.

This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141210006510/en/

Freedom Bank of VirginiaCraig S. Underhill, President & CEO703-242-5300

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