Integrity Bank for Business Announces Closing of Post-Opening Phase of Offering for Maximum Amount

July 6, 2021

Integrity Bank for Business (“Integrity”) is pleased to announce that it has completed a post-opening phase of its initial Offering and obtained subscriptions and payments for all of the shares currently authorized under its initial offering of shares of its common stock. Integrity has now received gross proceeds of $23 million in the Offering.

At the time Integrity closed the first phase of its Offering on February 19, 2021, Integrity had received subscriptions for $21.675 million of capital which meant only $1.325 million remained available for issuance by Integrity to reach its maximum capital amount authorized for issuance in the Offering. On June 7, 2021, Integrity launched the post-opening phase of its Offering and quickly received subscription agreements and specific expressions of interest from existing and new investors exceeding the number of shares then available. Integrity has now completed the documentation and payment process for this phase of its Offering for the maximum number of shares presently authorized for issuance in the Offering.

Michael S. Ives, President and CEO, commented: “We were very pleased and excited with the high level of interest remaining for our Offering. This enthusiasm from existing and new investors in Integrity is strong evidence of the banking opportunities
for Integrity in our local market.

“Given this level of interest from new and existing investors, Integrity is exploring its options to offer additional shares of stock to the investors that Integrity was unable to accommodate in the post-opening phase of its Offering.”

This press release contains forward-looking statements within the meaning of the federal securities laws relating to the Bank’s offering of its common stock. The words “may,” “will,” “anticipate,” “should,” “believe,” “project” and “expect,” as well as other similar words and expressions of the future, are intended to identify forward-looking statements. These statements are based upon the current expectations and beliefs of the Bank’s management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Bank's control. In addition, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale thereof in any state in which such offer, solicitation, or sale would be unlawful.

Shares of the Bank’s common stock will represent equity interests in the Bank. An investment in the Bank is not a deposit or an account and is not insured by the FDIC or any other agency or person. You should not invest in this offering unless you can afford to lose some or all of your investment. The Bank’s solicitation for purchases of shares of its common stock has not been approved or disapproved by the FDIC, the Virginia Bureau of Financial Institutions or any federal or state securities regulator, nor have any of them passed on the accuracy or adequacy of the Bank’s stock offering materials. It is illegal to represent otherwise.