ODNB Financial Corp., the parent of Old Dominion National Bank, and National Capital Bancorp, the parent of The National Capital Bank of Washington, have merged, with ODNB surviving as the holding company and subsequently adopting the National Capital Bancorp name.
The combined company intends to list its shares on Nasdaq or the New York Stock Exchange under the ticker symbol NACB. Simultaneously, Old Dominion National Bank will merge into The National Capital Bank of Washington, with National Capital Bank surviving as the combined institution’s wholly owned banking subsidiary. The transaction, unanimously approved by both boards, is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approvals. Based on March 31, 2026 financials, the combined organization is expected to have approximately $2.4 billion in assets.
Piper Sandler served as financial advisor to NACB and provided a fairness opinion, with Williams Mullen acting as legal counsel. D.A. Davidson advised ODNB and delivered a fairness opinion, while Troutman Pepper Locke served as legal counsel to ODNB.