BANK OF THE JAMES FINANCIAL GROUP INC

Bank of the James Financial Group, Inc. is a bank holding company based in Lynchburg, Virginia, incorporated on October 3, 2003. It serves as the parent company for Bank of the James, which was incorporated in 1998 and began banking operations in July 1999. The Bank engages in general retail and commercial banking activities. Financial conducts three main activities: general retail and commercial banking through Bank of the James; mortgage brokerage services through Bank of the James Mortgage, a division of the Bank; and investment advisory services, also known as wealth management, through its wholly-owned subsidiary, Pettyjohn, Wood & White, Inc. Financial also offers securities brokerage and other investment services through BOTJ Investment, a division of the Bank, and acts as an agent for insurance and annuity products through BOTJ Insurance, Inc., a wholly-owned subsidiary of the Bank. The operating results of these additional services have not significantly affected the company's financial performance and are not considered principal activities. The Bank, BOTJ Insurance, BOTJ Investment Group, Inc. (a non-operating subsidiary), and Pettyjohn, Wood & White, Inc. are Financial's only subsidiaries and primary assets. The Bank currently operates within Virginia from 19 full-service offices, two limited-service offices, and two residential mortgage loan production offices.