Exhibit 99.1



Bank of the James Reports Fourth Quarter, Full Year 2013 Financial Results

Record 2013 Earnings Reflect Loan Growth, Expense Management, Strong Asset Quality

Lynchburg, VA., January 28, 2014

- Bank of the James Financial Group, Inc. (NASDAQ: BOTJ), the parent company of Bank of the James, a full-service commercial and retail bank serving the Greater Lynchburg MSA, commonly known as “Region 2000” and other markets in Central Virginia, today announced unaudited results for the three months and 12 months ended December 31, 2013.

Performance Highlights


    Net income for the three months ended December 31, 2013 was $663,000 or $0.20 per diluted share, compared with $747,000 or $0.22 per diluted share for the three months ended December 31, 2012.


    Net income for the 12 months ended December 31, 2013 was $3.06 million or $0.91 per diluted share, up 44% compared with $2.13 million or $0.64 per diluted share for the 12 months ended December 31, 2012.


    Net interest income after provision for loan losses was $3.89 million in fourth quarter 2013 compared with $3.50 million in fourth quarter 2012. For the 12 months of 2013, net interest income after loan loss provision increased to $15.45 million from $13.45 million for the 12 months of 2012. Both 2013 periods reflected lower year-over-year provisions for loan losses.


    Noninterest income from fees, service charges and commissions, including fees from the bank’s expanded line of treasury management services for commercial customers, grew in 2013 to $1.35 million compared with $1.23 million in 2012.


    Total loans, net of allowance for loan losses, rose to $339.99 million at December 31, 2013 compared with $319.92 million at December 31, 2012, primarily reflecting growth in commercial real estate and construction lending and selectively retained purchase mortgage originations.


    The bank’s focus on continued prudent credit and risk management practices was reflected in a 52% reduction in nonaccruing loans, resulting in a decline in the ratio of nonaccruing loans to total loans to 0.89% at December 31, 2013 compared with 1.95% at December 31, 2012.


    All key asset quality ratios improved year-over-year, including a nonperforming assets to total assets ratio of 1.04% at year-end 2013 compared with 1.92% at year-end 2012.


    Expanding its market reach in 2013, the bank established loan production offices in Charlottesville and Roanoke, Virginia.


    For the 12 months of 2013, return on average assets (ROAA) and return on average equity (ROAE) increased year- over-year to 0.71% and 10.13%, respectively, compared with 0.50% and 7.76%, respectively, for the 12 months of 2012.


    Book value per share was $8.85 at December 31, 2013 compared with $8.83 per share at December 31, 2012.

Robert R. Chapman III, President and CEO, commented: “Our financial performance in 2013 reflects the accomplishments of our entire team to deliver growth, combined with asset quality ratios that meet or exceed rigorous goals for balance sheet strength. Earnings in 2013 reflect meaningful year-over-year growth and balance sheet improvement, and were the highest in our company’s history. Key measures of shareholder value, including ROAA, ROAE, book value and total stockholders’ equity, demonstrated year-over-year increases.

“The year presented numerous opportunities and challenges that called for nimble response. Most financial institutions, including Bank of the James, felt the combined impact of the residential refinancing mortgage slowdown, commercial loan pay downs, and a low interest rate environment for much of the year, followed by interest rate uncertainty and volatility in the latter half of the year.

The following information was filed by Bank Of The James Financial Group Inc (BOTJ) on Tuesday, January 28, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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