EX-99.2
2
a08-8509_1ex99d2.htm
EX-99.2
Exhibit 99.2
FOR
IMMEDIATE RELEASE
March 18,
2008
MILLENNIUM BANKSHARES ANNOUNCES COMPLETION OF BRANCH
SALE
Reston, VA - March 18,
2008 - Millennium Bankshares Corporation (Nasdaq: MBVA) announced today that
its subsidiary bank, Millennium Bank, N.A., has completed the sale of its
Richmond, Virginia branches to Eastern Virginia Bank effective the close of
business Friday, March 14
th
.
The combined deposits of the two branches totaled $91.9 million at the
closing. Included in the sale were loans
generated by the branches totaling $48.9 million. Millennium will record a pre-tax gain on the
sale of $8.5 million ($5.6 million after-tax).
The results are consistent with disclosures in previous 8-K
filings. Following the sale, Millennium
will have total assets of approximately $388 million, an outstanding loan
portfolio of $232 million, and deposits of $269 million.
Contacts:
Richard I. Linhart,
Chairman, President and CEO
(703) 464-1966
Dale G. Phelps, EVP and CFO
(703) 464-1962
1

EX - 99 . 2 2 a08 - 8509 _ 1ex99d2 . htm EX - 99 . 2 Exhibit 99 . 2 FOR IMMEDIATE RELEASE March 18 , 2008 MILLENNIUM BANKSHARES ANNOUNCES COMPLETION OF BRANCH SALE Reston , VA - March 18 , 2008 - Millennium Bankshares Corporation ( Nasdaq : MBVA ) announced today that its subsidiary bank , Millennium Bank , N . A . , has completed the sale of its Richmond , Virginia branches to Eastern Virginia Bank effective the close of business Friday , March 14 th . The combined deposits of the two branches totaled $ 91.9 million at the closing . Included in the sale were loans generated by the branches totaling $ 48.9 million . Millennium will record a pre - tax gain on the sale of $ 8.5 million ( $ 5.6 million after - tax ) . The results are consistent with disclosures in previous 8 - K filings . Following the sale , Millennium will have total assets of approximately $ 388 million , an outstanding loan portfolio of $ 232 million , and deposits of $ 269 million . Contacts : Richard I . Linhart , Chairman , President and CEO ( 703 ) 464 - 1966 Dale G . Phelps , EVP and CFO ( 703 ) 464 - 1962 1
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