WashingtonFirst Completes Merger with Alliance Bankshares Corporation

WashingtonFirst Completes Merger with Alliance Bankshares Corporation

  • Posted: 12/21/2012
  • Castle Creek

RESTON, Va. and CHANTILLY, Va.–(BUSINESS WIRE)–WashingtonFirst Bankshares, Inc. (OTCBB: WFBI) and Alliance Bankshares Corporation (NASDAQ: ABVA) jointly announce the consummation of the merger of Alliance into WashingtonFirst, with WashingtonFirst as the surviving company.

“We are excited to welcome the Alliance customers and stockholders into the WashingtonFirst family,” said Shaza Andersen, Chief Executive Officer of WashingtonFirst. “This merger is an important strategic step toward our goal of expanding our presence in the Washington metropolitan area. With fifteen branches and over $1 billion in assets, we look forward to an exciting future as we enhance the banking experience for our clients and shareholders.”

Donald W. Fisher, Ph.D, Chairman of the Board of Directors of Alliance, stated, “Merging with WashingtonFirst Bankshares is a very positive outcome for all Alliance stakeholders – employees, customers and shareholders. Joining together the resources of our respective organizations results in a community banking organization which is very well positioned for growth and success in the future.” Dr. Fisher is one of three Alliance directors who will be joining the Board of WashingtonFirst.

Follow this link to continue reading this press release