Freedom Bank Hires Scott Clark as Executive Vice President and Chief Financial Officer

Rhea-AI Summary

Freedom Financial Holdings (OTCQX: FDVA) has appointed Scott Clark as Executive Vice President and Chief Financial Officer of both the Company and The Freedom Bank of Virginia. Clark brings over 20 years of community banking experience, having previously served as Treasurer at Sandy Spring Bank and EagleBank. In his new role, Clark will oversee all financial operations, including budgeting, financial reporting, asset liability management, investment performance, regulatory compliance, and investor relations. The appointment strengthens the bank's leadership team as it aims for continued growth and operational excellence. David Sanders will continue serving as Chief Accounting Officer after his interim CFO role.

Positive

• Appointment of experienced CFO with over 20 years in community banking
• Strong background in treasury management from larger banks (Sandy Spring Bank and EagleBank)
• Comprehensive expertise in financial strategy, regulatory compliance, and capital management
• Seamless leadership transition with previous interim CFO continuing as Chief Accounting Officer

Negative

• None.

Seasoned Financial Leader Joins Freedom Bank to Drive Strategic Growth and Operational Excellence

FAIRFAX, Va., June 2, 2025 /PRNewswire/ -- Freedom Financial Holdings, Inc. (OTCQX: FDVA) ("the Company") is pleased to announce the appointment of Scott Clark as Executive Vice President and Chief Financial Officer of the Company and of The Freedom Bank of Virginia ("the Bank"). With over two decades of experience in community banking and a proven track record of leadership in finance, Mr. Clark brings a wealth of expertise to the role, further strengthening the bank's commitment to providing exceptional service to its clients, its community, and ensuring sustainable growth.

As CFO, Mr. Clark will oversee all financial operations, including budgeting, financial reporting, asset liability management, investment performance, regulatory compliance and investor relations. His expertise will also be critical in steering the bank through the challenges of a rapidly changing financial environment, positioning it for continued growth and profitability.

"We are excited to welcome Scott Clark to our leadership team. His expertise will enhance our experience as we continue to grow in both size and complexity. His proven track record at larger banks, forward-thinking approach, and commitment to community banking align perfectly with our values. I am confident that under Scott's leadership, our financial strategy will continue to progress, enhancing both operational efficiency and balance sheet management. I am equally grateful to David Sanders for serving as our Interim CFO and continuing as our Chief Accounting Officer and key partner to Scott in his new role," said Joe Thomas, President and CEO, Freedom Bank.

"I am thrilled to join Freedom and to work alongside such a talented and dedicated team. I look forward to leveraging my experience to contribute to the Bank's strategic vision, ensuring we continue to build on our strong foundation and maintain the highest standards of financial excellence. My goal is to support the Company's long-term success while delivering value to our customers and shareholders and expanding opportunities for our team members and the community we serve," said Scott Clark, Executive Vice President and Chief Financial Officer, Freedom Bank.

Mr. Clark has held significant roles throughout his career, including serving as Treasurer for Sandy Spring Bank and EagleBank, where he played a pivotal role in financial strategy, regulatory compliance, and capital management. His extensive background in managing financial operations, coupled with his focus on building shareholder value with long-term sustainability and customer satisfaction, makes Scott uniquely qualified to guide Freedom as it continues to grow and adapt to the evolving economic landscape.

About Freedom Bank

The Freedom Bank of Virginia is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and empower their dreams. Freedom Bank has locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA. For information about Freedom Bank, visit our website at http://www.freedom.bank.

Contact:
Joseph J. Thomas
President & Chief Executive Officer
Phone: 703-667-4161
Email: jthomas@freedom.bank

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SOURCE The Freedom Bank of Virginia

FAQ

Who is the new CFO of Freedom Bank (OTCQX: FDVA)?

Scott Clark has been appointed as Executive Vice President and Chief Financial Officer of Freedom Financial Holdings and The Freedom Bank of Virginia.

What is Scott Clark's experience before joining Freedom Bank?

Scott Clark has over 20 years of experience in community banking and previously served as Treasurer for both Sandy Spring Bank and EagleBank.

What will be Scott Clark's responsibilities as CFO at Freedom Bank?

Clark will oversee all financial operations, including budgeting, financial reporting, asset liability management, investment performance, regulatory compliance, and investor relations.

Who was Freedom Bank's previous CFO?

David Sanders served as Interim CFO and will continue with the company as Chief Accounting Officer.

What is Freedom Bank's stock symbol?

Freedom Bank trades under the symbol FDVA on the OTCQX market.