Business Context and Reporting Period
Company: Bank of the James Financial Group, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 21, 2012
Event: Amendment to the Company's Bylaws.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report is strictly administrative regarding corporate governance.
Material Changes
The Board of Directors amended Article IV, Section 15 of the Company's Bylaws. The amendment clarifies that the Board may exclude certain Executive Vice Presidents from major policy-making functions. This exclusion is intended to prevent such individuals from being classified as "executive officers" under Regulation O of the Federal Reserve Board (12 C.F.R. Pt. 215). The amendment became effective on August 21, 2012.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The primary purpose is to disclose the bylaw amendment and attach the full text of the Amended and Restated Bylaws as Exhibit 3.2.
Key Facts for Investor Verification
- The bylaw amendment is effective as of August 21, 2012.
- The change specifically targets the classification of Executive Vice Presidents under Federal Reserve Regulation O.
- The full text of the amended bylaws is available in Exhibit 3.2 of this filing.
- No financial performance data is reported in this document.