UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 25, 2020

 

 

 

VILLAGE BANK AND TRUST FINANCIAL CORP.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Virginia

(State or Other Jurisdiction

of Incorporation)

0-50765

(Commission File Number)

16-1694602

(IRS Employer

Identification No.)

     

13319 Midlothian Turnpike

Midlothian, Virginia

(Address of Principal Executive Offices)

 

23113

(Zip Code)

       

 

Registrant’s Telephone Number, Including Area Code: (804) 897-3900

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $4.00 per share VBFC Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 8.01Other Events.

 

On September 25, 2020, Village Bank, a wholly-owned subsidiary of Village Bank and Trust Financial Corp., issued a press release announcing its expansion into the Scott’s Addition area of the Richmond, Virginia market through the opening of a new Village Bank branch. The new branch will be Village Bank’s first in the city of Richmond and is expected to open during the first quarter of 2021, pending final regulatory approval.

 

A copy of the press release is attached to this Current Report as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01Financial Statements and Exhibits.

 

(d)Exhibit.

 

The following exhibit is filed herewith:

 

Exhibit No. Description of Exhibit
   
99.1 Press release dated September 25, 2020

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  VILLAGE BANK AND TRUST FINANCIAL CORP.
  (Registrant)
   
Date: September 25, 2020 By: /s/ Donald M. Kaloski, Jr.
  Donald M. Kaloski, Jr.
  Executive Vice President and CFO

 

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Exhibit 99.1

 

 

 

News Release

For Immediate Release

 

VILLAGE BANK ANNOUNCES BRANCH RESTRUCTURING

 

Village Bank (the “Bank”) is excited to announce its expansion into the Scott’s Addition area of Richmond, VA. The new branch will be the Bank’s first in the city of Richmond and is expected to open during the first quarter of 2021, pending final regulatory approval.

 

The Scott’s Addition branch will be located on the first floor of The Nest apartment building at 3117 W. Marshall St., Richmond, VA 23230. Branch hours will be Monday through Friday from 9am to 5pm. The branch will provide a full suite of personal and business deposits and lending solutions, as well as offering full service residential mortgages through the Bank’s wholly-owned subsidiary, Village Bank Mortgage Corporation.

 

In conjunction with the opening of the Scott’s Addition branch, the Bank will be closing its Willow Lawn branch, located approximately two miles away at 1650 Willow Lawn Dr. Richmond, VA 23230. The closure of the Willow Lawn branch is also expected to occur during the first quarter of 2021.

 

“Scott’s Addition and the surrounding area provide excellent access to a vibrant and growing market. We have a great base of current business customers, as well as existing Willow Lawn customers located in the general area. As such, we anticipate minimal disruption with the Willow Lawn closure as the branch is situated between our Forest Office Park branch and the new Scott’s Addition branch,” stated Jay Hendricks, President and Chief Executive Officer of the Bank. “We are excited about these changes, and look forward to the opportunity to bring our exceptional customer service and our promise that ‘You’re a Neighbor, Not a Number’ to the Scott’s Addition market.”

 

About Village Bank and Trust Financial Corp.

 

Village Bank and Trust Financial Corp. was organized under the laws of the Commonwealth of Virginia as a bank holding company whose activities consist of investment in its wholly-owned subsidiary, Village Bank. Village Bank is a full-service Virginia-chartered community bank headquartered in Midlothian, Virginia, with deposits insured by the Federal Deposit Insurance Corporation. The Bank has nine branch offices. Village Bank and its wholly-owned subsidiary, Village Bank Mortgage Corporation, offer a complete range of financial products and services, including commercial loans, consumer credit, mortgage lending, checking and savings accounts, certificates of deposit, and 24-hour banking.

 

For further information contact Donald M. Kaloski, Jr., Executive Vice President and Chief Financial Officer at 804-897-3900 or dkaloski@villagebank.com.