John Marshall Bank Remains Independent

Bank stays the course through a turbulent spate of recent mergers and acquisitions
 
 
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Finance
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Location:
Reston - Virginia - US

RESTON, Va. - Oct. 11, 2018 - PRLog -- The announcement of Reston-based Access National Bank being acquired by Union Bank of Richmond continues the trend of vanishing community banks in the Washington, DC region.  From 2012 through 2017, ten community banks have been acquired by larger banks.  The pending approval of the Union Bank acquisition of Access National will increase that number to 11.

In a June 1, 2018 interview with the Washington Business Journal's Andy Medici, John Marshall Bank CEO Chris Bergstrom made it clear the $1.23 billion Reston-based community bank was not for sale.  "We've put a stake in the ground for our independence," said Chris Bergstrom, the former United Bank president and Cardinal Bank executive who took over as John Marshall CEO on May 2. "We are making a statement that we are here for the long run."

John Marshall Bank's determination to remain independent is good news for businesses, non-profits and most organizations needing loans, cash management support and easy access to local community banks familiar with the Washington, DC market.

"The frenetic community bank M&A activity over the past six years leaves many businesses longing for a stable community bank dedicated to remaining independent and serving the needs of local consumers and businesses," said Bergstrom.  "We're open for business, and plan to be for a long, long time."

John Marshall Bancorp, Inc. (OTCQB:JMSB) reported total assets of $1.23 billion at June 30, 2018.  Year-over-year asset growth, from June 30, 2017 to June 30, 2018, was $109.7 million, or 9.8%.John Marshall Bank has banking centers in Alexandria, Arlington, Leesburg, Reston, Rockville, Tysons Corner, Washington, D.C., and loan production offices in Ballston and Woodbridge.  The Bank is headquartered in Reston.

John Marshall Bank first opened to the public in Falls Church, Virginia in May 2006. Since that time, the bank has become one of the areas most respected, fastest growing and well-capitalized banks.

Please visit http://www.johnmarshallbank.com

For more information or to schedule an interview with a John Marshall Bank spokesperson, please contact Bruce Gemmill of John Marshall Bank at 703-584-0870 or bgemmill@johnmarshallbank.com

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Bruce Gemmill
***@johnmarshallbank.com
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Tags:Banking, Finance, M A
Industry:Banking
Location:Reston - Virginia - United States
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