Southern Financial Bank and Essex Savings Bank will significantly increase our presence in the greater Richmond area and extend our footprint towards Norfolk/Virginia Beach. Gene Ross, his staff and his Board of Directors have built an excellent retail deposit base in attractive market areas. The merger will result in an institution with combined assets of nearly $1.5 billion and a network of 32 full-service banking locations, including 30 in Virginia and one in theĭistrict of Columbia and one in North Carolina.Īnd CEO of Southern Financial, stated, Were delighted to enter into this agreement with Essex. $379 million and total loans of $244 million as of June 30, 2003. Essex Savings Bank reported total deposits of $350 million and total assets of Essex Savings Bank, the wholly-owned subsidiary of Essex, currently operatesįour (4) retail branches in Virginia including two in the Richmond area, one in Suffolk, and one in Emporia and one (1) retail branch in Elizabeth City, North Carolina. subject to the terms of the definitive agreement. Shares of Southern Financials common stock for all of the issued and outstanding common stock of Essex Bancorp, Inc.
Under the terms of the definitive agreement, Southern Financial will issue up to 896,178 Immediately prior to the merger, the agreement affects a spin-off of Essexs wholly-owned subsidiary, Essex Home Mortgage Servicing Corporation (LoanCare). today announced the signing of a definitive agreement providing for the merger of Essex Bancorp, Inc. Ross, President and Chief Executive Officer of Essex Bancorp, Inc. Derrico, Chairman and Chief Executive Officer of SIGN DEFINITIVE AGREEMENTĬontact: Patricia A.
and Essex Home Mortgage Servicing Corporation and (ii) slides presented during a conference call/webcast held by Southern Financial on July 25, 2003: The definitive Agreement and Plan of Reorganization among Southern Financial, Essex Bancorp, Inc. Set forth below are (i) the text of a press release issued on Jby Southern Financial Bancorp, Inc. Southern Financials telephone number is (540) 349-3900. To Southern Financial Bancorp, Inc., 37 East Main Street, Warrenton, Virginia 20186, Attn: Investor Relations.
MAC PRO 5.1 SAMSUNG EVO PCI FREE
Free copies of the prospectus may also be obtained by directing a request by telephone or mail Investors and security holders may obtain free copies of these documents through the website maintained by the SEC at.
MAC PRO 5.1 SAMSUNG EVO PCI REGISTRATION
Statement and the proxy statement/prospectus included within the registration statement because they contain important information about Southern Financial, Essex Bancorp, the proposed transaction and the persons soliciting proxies relating to the Investors and security holders are advised to read the registration Registration statement will include a proxy statement/prospectus which will be sent to the shareholders of Essex Bancorp seeking their approval of the proposed transaction. into Southern Financialīancorp, Inc., Southern Financial will file with the Securities and Exchange Commission a registration statement on Form S-4 to register the shares of Southern Financials common stock to be issued to the shareholders of Essex Bancorp. In connection with the proposed merger of Essex Bancorp, Inc. Pursuant to Rule 425 under the Securities Act of 1933 Filed by Southern Financial Bancorp, Inc.
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