Virginia Business Bank, Richmond, Virginia, was closed today by the
Virginia State Corporation Commission. The Federal Deposit Insurance
Corporation (FDIC) was appointed as receiver. To protect the
depositors, the FDIC entered into a purchase and assumption agreement
with Xenith Bank, Richmond, Virginia, to assume all of the deposits of
Virginia Business Bank.

The sole branch of Virginia Business Bank will reopen on Monday as a
branch of Xenith Bank. Depositors of Virginia Business Bank will
automatically become depositors of Xenith Bank. Deposits will continue
to be insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit insurance
coverage up to applicable limits. Customers of Virginia Business Bank
should continue to use their existing branch until they receive notice
from Xenith Bank that it has completed systems changes to allow other
Xenith Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Virginia Business
Bank can access their money by writing checks or using ATM or debit
cards. Checks drawn on the bank will continue to be processed. Loan
customers should continue to make their payments as usual.

As of March 31, 2011, Virginia Business Bank had approximately $95.8
million in total assets and $85.0 million in total deposits. In
addition to assuming all of the deposits of the failed bank, Xenith
Bank agreed to purchase essentially all of the assets.

Customers with questions about today's transaction should call the
FDIC toll-free at 1-800-837-0215. The phone number will be operational
this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday
from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m.,
EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested
parties also can visit the FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/vbb.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $17.3 million. Compared to other alternatives, Xenith Bank's
acquisition was the least costly resolution for the FDIC's DIF.
Virginia Business Bank is the 59th FDIC-insured institution to fail in
the nation this year, and the first in Virginia. The last FDIC-insured
institution closed in the state was Imperial Savings and Loan
Association, Martinsville, on August 20, 2010.

River Community Bank, National Association, Martinsville, Virginia, Assumes All of the Deposits of Imperial Savings and Loan Association, Martinsville, Virginia 

Imperial Savings and Loan Association, Martinsville, Virginia, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with River Community Bank, National Association, Martinsville, Virginia, to assume all of the deposits of Imperial Savings and Loan Association.

The sole branch of Imperial Savings and Loan Association will reopen on Monday as a branch of River Community Bank, N.A. Depositors of Imperial Savings and Loan Association will automatically become depositors of River Community Bank, N.A. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage. Customers of Imperial Savings and Loan Association should continue to use their existing branch until they receive notice from River Community Bank, N.A. that it has completed systems changes to allow other River Community Bank, N.A. branches to process their accounts as well.

This evening and over the weekend, depositors of Imperial Savings and Loan Association can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2010, Imperial Savings and Loan Association had approximately $9.4 million in total assets and $10.1 million in total deposits. River Community Bank, N.A. did not pay the FDIC a premium for the deposits of Imperial Savings and Loan Association. In addition to assuming all of the deposits of the failed bank, River Community Bank, N.A. agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-517-1843. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/imperialsvgs.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.5 million. Compared to other alternatives, River Community Bank, N.A.'s acquisition was the least costly resolution for the FDIC's DIF. Imperial Savings and Loan Association is the 113th FDIC-insured institution to fail in the nation this year, and the first in Virginia. The last FDIC-insured institution closed in the state was Greater Atlantic Bank, Reston, on December 4, 2009.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,932 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-192-2010