Tysons Corner, Va.-based ODNB Financial Corporation is acquiring National Capital Bank of Washington, D.C., for $98 million. .The deal, expected to close in the fourth quarter, will result in a $2.4 billion bank. ODNB Financial Corporation is the holding company of Old Dominion National Bank. As of last month, Old Dominion had $1.6 billion in assets, $1.3 billion in deposits and $1.3 billion in net loans and leases. National Capital Bancorp is the holding company of The National Capital Bank of Washington. As of March 31, The National Capital Bank had $735.3 million in assets. The combined holding company will be named National Capital Bancorp. Minneapolis-based Piper Sandler & Co. was financial advisor to NACB and delivered a fairness opinion to its board of directors. Williams Mullen, Richmond, Va., was legal counsel to NACB. Davidson & Co. was financial advisor to ODNB Financial, while Atlanta-based Troutman Pepper Locke provided legal counsel.
