Business Context and Reporting Period
This Form 8-K is a current report filed by BANK OF THE JAMES FINANCIAL GROUP INC on January 5, 2026. The filing addresses a material corporate governance event involving the departure of a senior executive and director.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
On January 5, 2026, J. Todd Scruggs retired effective immediately from the following positions:
- Director on the Board of Directors of the Company and its subsidiary, Bank of the James.
- Secretary and Treasurer of the Company.
- Executive Vice President and Chief Investment Officer of the Bank.
The Company stated that Mr. Scruggs's retirement was not the result of any disagreement regarding operations, policies, or practices.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. Management commentary is limited to expressing appreciation for Mr. Scruggs's leadership and contributions, including his prior service as Chief Financial Officer.
Investor Verification Checklist
- Verify the appointment of a new Chief Investment Officer and Treasurer to replace Mr. Scruggs.
- Review the attached press release (Exhibit 99.1) for details on the transition plan.
- Confirm the composition of the Board of Directors following the vacancy.