Virginia Commerce Bancorp Initiates Formal Review of Strategic Alternatives
Virginia Commerce Bancorp (NASDAQ: VCBI) today
announced that its Board of Directors has initiated a formal review of
strategic alternatives to enhance shareholder value, including a
possible merger, sale or other form of business combination.
The Company has retained Sandler O'Neill + Partners, L.P. as financial
advisors to advise the Board of Directors in its review. The Company has
not set a definitive timetable for completion of its evaluation and
there can be no assurance that this process will lead to the pursuit,
approval or completion of any transaction or other strategic initiative.
The Company does not intend to disclose developments regarding this
process unless and until its Board of Directors approves a specific