BANK OF THE JAMES FINANCIAL GROUP Business Summary

Bank of the James Financial Group Inc. (BOTJ) operates as the bank holding company for Bank of the James, a full-service community bank that surpassed the $1 billion asset milestone in late 2025. The company generates revenue primarily through net interest income derived from a diversified loan portfolio—including commercial real estate, residential mortgages, and consumer lending—complemented by non-interest income from its three primary segments: Community Banking, Mortgage Banking, and Investment Advisory. Its wealth management arm, Pettyjohn, Wood & White, Inc. (PWW), provides a high-margin, recurring fee-based revenue stream with nearly $1 billion in assets under management. Within the Virginia market, BOTJ competes directly with regional players such as Atlantic Union Bank, Carter Bank & Trust, and Benchmark Community Bank, positioning itself as a high-touch, service-oriented alternative to larger corporate institutions while maintaining superior asset quality and a remarkably low nonperforming loan ratio. Leadership is anchored by co-founder Robert R. Chapman III, who serves as CEO and President of the holding company; Chapman brings over 40 years of banking experience, including a 15-year tenure at Crestar Bank and a degree from the Stonier Graduate School of Banking. In January 2026, the company executed a key leadership transition, appointing Eric J. Sorenson, Jr. as Chief Financial Officer to succeed retiring co-founder J. Todd Scruggs. Sorenson, a former partner at Woods Rogers PLC, previously served as General Counsel and has advised the bank on regulatory and financial matters for over 25 years. The executive team also includes Michael A. Syrek, President of the Bank and a former SunTrust market executive, and Kirstin McHenry, who leads technological initiatives as Senior Technology Officer. The Board is chaired by Dr. Augustus A. Petticolas, Jr. and features prominent regional business leaders, including Watt R. Foster, Jr., CEO of Foster Fuels, and Lewis C. Addison, former CFO of Centra Health.