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WASHINGTON, D.C. – Troutman Pepper Locke advised ODNB Financial Corporation, the holding company for Old Dominion National Bank, a locally owned community bank serving markets including the Washington, D.C. metro area, in the completion of a private placement of a $25 million 7.25% fixed-to-floating rate subordinated note due 2035 to a subsidiary of EJF Capital, LLC, a locally-based global institutional asset management firm specializing in financials. For more information, see the press release.

Monday, November 10, 2025

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James Stevens, partner and co-leader of Troutman Pepper Locke’s Financial Services Industry Group, will present “Bank Partnerships and Banking‑as‑a‑Service: New Pressure and New Opportunities” at Practising Law Institute’s Banking Law Institute 2025 on Monday, November 10, 2025. This daylong advanced-level CLE program will cover recent developments impacting the…

Troutman Pepper Locke is pleased to announce that four of its financial services attorneys were recognized under the special designation of “Lawyer of the Year” in the 2026 edition of The Best Lawyers in America®, an honor earned by just one lawyer in each practice area and metropolitan area.

Troutman Pepper Locke client Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus (OPNB), and Hampton Roads-based TowneBank recently entered a definitive agreement to merge. Under this agreement, TowneBank will acquire Old Point Financial Corporation, OPNB, and Old Point Trust & Financial Services (Old Point Wealth). For more information…

Today, both the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized new guidelines regarding bank mergers. According to the agencies, these updates aim to enhance transparency and provide clearer guidance on the evaluation of merger applications under the Bank Merger Act (BMA).

Troutman Pepper client CBB Bancorp, the holding company for Century Bank of Georgia, completed its sale to Southern States Bancshares, Inc., the holding company for Southern States Bank on July 31, 2024. CBB Bancorp merged with and into Southern States and Century Bank merged with and into Southern States Bank, with Southern States and Southern States Bank surviving. Troutman Pepper partners James Stevens, Constance Brewster, Emily Schifter, and Morgan Klinzing, and associates Caitlin Oh, William Mayo, Sarah Hanna, Peter Dragna, and Regina Tisdale advised CBB Bancorp in the transaction.

Troutman Pepper partner James Stevens spoke at the annual Georgia Bankers Association meeting alongside Jonathan Hightower, a partner at Fenimore Kay Harrison. Their discussion focused on how, after a challenging year in 2023, many banks are seeking opportunities to regain forward momentum. During the session, James and Jonathan explored various growth opportunities for banks, including the resurgence of community bank mergers and acquisitions, strategies for nontraditional deposit growth, compensation and retention tactics, and leadership succession planning. Additionally, they addressed ways to mitigate emerging risks amidst heightened expectations from regulators and other stakeholders.