Bank of the James Financial Group, Inc. has announced a significant amendment to its existing corporate loan agreement with The National Bank of Blacksburg $(NBB)$. Effective September 1, 2025, the revised terms under the Second Note Modification Agreement and Allonge extend the maturity date of the $11 million Secured Promissory Note to August 31, 2030, from the previous date of December 31, 2026. The interest rate has been adjusted from 3.90% to 5.65% per annum. Furthermore, the repayment schedule has been restructured to require equal monthly installments of approximately $61,000, with a final balloon payment of around $7.4 million at maturity. The company, with an outstanding principal balance of about $8.9 million as of August 31, 2025, retains the option to request a one-time recast of the amortization schedule with a prepayment of $1 million or more. This agreement reinforces Bank of the James' financial strategy while securing its obligations with a first-priority lien on approximately 4.95% of its common stock.
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