New Year, New Banking Concerns, But Not if You Bank at Virginia Commonwealth Bank

January 2009: Virginia Commonwealth Bank, Petersburg, Virginia proudly announces it has earned BauerFinancial, Inc. 's recommended 4-Star Excellent rating for financial strength and stability. BauerFinancial has been analyzing the nation's banks for over 25 years and has earned the reputation as "the Nation's Bank Rating Firm", so to garner its recommendation is a time-honored badge of distinction. Customers of Virginia Commonwealth Bank can be proud that their bank still shines, even under the watchful eye of the BauerFinancial microscope. The rating is based on the overall financial picture of the bank and at 4-Stars indicates that Virginia Commonwealth Bank is one of the strongest banks in the nation. This is the 49th consecutive quarter that Virginia Commonwealth Bank has earned this recommended status .

"This New Year in particular brings with it a whole new set of worries, but where a consumer banks shouldn't be one of them", remarks Karen L. Dorway, president of BauerFinancial . "Some banks ignored proper loan underwriting standards in recent years and are now paying the price for that decision. But, Virginia Commonwealth Bank is a prime example of a bank that has stuck to traditional, conservative banking strategies, which, in this climate, is exactly what the 'other banks' are returning to. Virginia Commonwealth Bank is a model of banking safety and soundness and its customers can rest assured in that knowledge."

Established in 1936, Virginia Commonwealth Bank has been serving the banking needs of its neighbors and friends for 73 years. It currently operates through nine conveniently located offices in Chester , Colonial Heights , Hopewell , Petersburg , Richmond and Suffolk and can be found on the internet at www.vacommbank.com.

Virginia Commonwealth Bank: "The Small Bank That's Big on Service."

BauerFinancial, Inc. , Coral Gables , Florida , the nation's leading independent bank rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays for its rating, nor can it be eluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.

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Petersburg Based Bank Converts to a State Chartered Bank

Petersburg, VA (Oct 1, 2008) CEO and Chairman of the Board C. Frank Scott, Jr. announced today that First Federal Savings Bank of Virginia is now Virginia Commonwealth Bank after completing a conversion from a federally chartered savings bank to a state chartered bank. The bank received approval from both the State Corporation Commission (SCC) and the Federal Reserve Bank to undergo this conversion after a lengthy review process earlier of this year.

As a result, First Federal's name changed to Virginia Commonwealth Bank on October 1, 2008 . "We're very excited about the conversion," said C. Frank Scott, Jr. " We have a long history as First Federal. Over the past 72 years, we have seen First Federal grow into the successful financial institution it is today. We have also seen First Federal successfully navigate through economic cycles, both good times as well as challenging times. We believe that as Virginia Commonwealth Bank, we will be able to do the same."

President C. F. Scott, III said "The most important thing we want our customers to know is that this is not a merger or a buyout. The people who serve at our branches will stay the same. The new charter simply puts the bank in a charter type that is more consistent with the products and services we already offer, as well as the bank's business and operations."

Virginia Commonwealth Bank currently operates through nine conveniently located offices in Petersburg , Colonial Heights , Hopewell , Chesterfield , Richmond and Suffolk . With assets of $310 million, the community bank offers competitive products and services for both consumers and businesses. For more information about VCB or its products and service, please call 800-297-4040, visit our website at www.vacommbank.com or any of the VCB offices. The bank is a subsidiary of Virginia BanCorp Inc.