Business Context and Reporting Period
This Form 8-K Current Report was filed by BANK OF THE JAMES FINANCIAL GROUP INC on March 18, 2025. The registrant is incorporated in Virginia and its common stock trades on the NASDAQ Capital Market under the symbol BOTJ.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate governance changes rather than financial performance data.
Material Changes
- Board Composition: The Board of Directors will decrease in size from 13 to 11 members.
- Director Departures: Thomas W. Pettyjohn, Jr. and James F. Daly announced their intention not to seek re-election.
- Effective Date: Both directors will retire effective at the conclusion of the Annual Meeting of Shareholders scheduled for May 20, 2025.
- Vacancy Status: The Company has elected not to fill these vacancies immediately following the retirements.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. Management expressed appreciation for the leadership and contributions of the departing directors. No unusual items were reported.
Investor Verification Checklist
- Confirm the date and agenda of the Annual Meeting of Shareholders scheduled for May 20, 2025.
- Verify the updated Board of Directors composition following the May 2025 meeting.
- Review subsequent filings for any announcements regarding the appointment of new directors to replace the retiring members.