National Capital Bancorp, the parent company of National Capital Bank of Washington, announced on June 15 that it will merge with ODNB Financial Corporation, the parent organization of Old Dominion National Bank based in Tysons Corner. This significant merger, expected to close in the fourth quarter of 2026, will result in a combined institution with assets totaling approximately $2.4 billion and 10 branches across Washington, DC, Virginia, Maryland, Pennsylvania, and Florida. The merged entity will retain the National Capital Bank name and maintain its headquarters at 316 Pennsylvania Ave. SE, established in 1889.
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Bank executives, including National Capital Bancorp CEO Richard B. “Randy” Anderson Jr. and Old Dominion CEO Mark Merrill, emphasized that this merger is not solely driven by economics but also by shared values and existing relationships. Both banks have previously collaborated over the years, which fostered a level of trust and rapport among their leadership.
The executives indicated that customers would notice minimal changes as both banks operate on the same core banking platform, meaning existing account numbers and online banking systems will remain unchanged. Employees at the Pennsylvania Avenue branch are expected to stay in their current roles, ensuring continuity for customers.
Debra Keats, a longtime bank employee, noted that customer reactions to the merger have been positive, with many seeing the merger as a chance to enhance services for the community. Community governance will also be preserved, as seven directors from National Capital Bank will join the 17-member board of the merged bank.
This merger positions the new entity as the seventh-largest bank in the Washington metropolitan area. By combining resources, the banks plan to improve technology investments and expand services while still committing to their community-focused approach. Future plans include possibly introducing interactive teller technology in more locations to better serve customers while maintaining local operations.
Community leaders expressed confidence in the merger's positive impact. Capitol Hill BID chair Don Denton, reflecting on the bank's historical role in the neighborhood, believes the merger will enhance opportunities and services for the community. Both bank leaders reiterated their commitment to maintaining strong ties with local organizations and community initiatives, ensuring the merged bank continues to fulfill its longstanding mission.
The merger's next steps depend on regulatory and shareholder approval, but if successful, the National Capital Bank will continue to serve as a significant financial resource for the Capitol Hill community.