Two Washington-Area Community Banks Agree to $98 Million Merger

Old Dominion National Bank and National Capital Bank of Washington both have deep roots in community banking around Washington, D.C. The combination reflects a broader trend among small and midsize banks seeking to compete more effectively with larger financial institutions by increasing their asset base and spreading operating costs.

The banks recently announced a $98 million merger that will create an institution with $2.4 billion in total assets and 10 branches. The transaction is expected to close in the fourth quarter of 2026, after which the combined bank plans to seek a listing on either Nasdaq or the New York Stock Exchange.