National Capital Bancorp, Inc. (the “Company”) announced today that Richard B. (Randy) Anderson, Jr. has decided to retire as Chief Executive Officer of its subsidiary, The National Capital Bank of Washington (the “Bank”) on December 31, 2022 after a distinguished 47-year career including the last seven years with the Bank. Mr. Anderson will continue to serve as President and Chief Executive Officer of the Company and a director of the Bank. The Board of Directors of the Bank have elected James Olevson, the current President of the Bank, to succeed Mr. Anderson as President and Chief Executive Officer and a director of the Bank effective January 1, 2023.

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Richard B. (Randy) Anderson, Jr. (Photo: Business Wire)

Mr. Anderson has provided vision and steady leadership through various economic cycles and change, including the significant growth of the Bank and an expansion of the communities it serves. He started with the Bank in 2016 and developed a strong executive management team working closely with the Board of Directors to develop leadership depth and execute a succession plan that resulted in the Board’s decision to name Mr. Olevson as his successor.

Mr. Olevson was appointed President of the Bank in April 2022. With over 25 years of community banking experience, Mr. Olevson previously served as Chief Lending Officer at MainStreet Bank and held senior lending positions at Middleburg Bank and BB&T Bank.

Mr. Anderson said, “It has been a privilege and an honor to serve the Company and the Bank over the last seven years. I strongly believe in our mission of providing banking excellence in meeting the financial needs of the communities we serve. Jimmy has done an outstanding job learning about our culture and what makes The National Capital Bank of Washington unique, and I look forward to continuing to serve as President and CEO of the Company while working side-by-side with him. I am confident that Jimmy will provide sound leadership ensuring continued success for the Company and the Bank.”

The National Capital Bank of Washington, a wholly owned subsidiary of National Capital Bancorp, Inc. (OTC Pink: NACB), was founded in 1889 and is Washington’s Oldest Bank. NCB is headquartered on Capitol Hill with offices in the Friendship Heights community in Northwest D.C., the Courthouse/Clarendon community in Arlington, Virginia and the Fox Hill senior living community of Bethesda, Maryland. NCB also operates residential mortgage and commercial lending offices and a wealth management services division. NCB product and service offerings include personal and business deposit accounts, robust eBanking, sophisticated treasury management solutions, remote deposit capture and merchant processing – all delivered with top-rated personal service. NCB is well-positioned to serve all the banking needs of those in our communities. For more information about NCB, visit www.nationalcapitalbank.com.

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