Bank of Botetourt declares special stock dividend

Bank of Botetourt Directors Declare Special Stock Dividend
Media Contact: Michelle Austin 540-591-5000

BUCHANAN, VIRGINIA. November 29, 2021 — Buchanan-based Bank of Botetourt (OTCPK: BORT)
announced today that its Board of Directors, at its November 23, 2021, meeting approved a 10%
common stock dividend payable on December 17, 2021, to shareholders of record at the close of
business on November 30, 2021. Fractional shares will be distributed to shareholders who currently own
fractional shares through the Bank’s Dividend Reinvestment Program (“DRP – Common”). No fractional
shares will be issued for Book Entry or Street Shares, and shareholders will receive cash-in-lieu of
fractional shares based on a per share price of $31.50, which is the undiscounted three-week volume
weighted average price per share used in the November 19, 2021, calculation for DRP purchases.
Statements reflecting the issuance of the shares as a result of the stock dividend will be mailed on or
about December 22, 2021.
“We are proud of the performance and success of the Bank in 2021, acknowledging and appreciating the
hard work of our employees during the ongoing pandemic. We are grateful for our shareholders’
steadfast loyalty. Our Board felt it was an appropriate time to reward and allow them to share in the
success of the Bank through a special stock dividend. As the largest community bank headquartered and
remaining in the Roanoke Metropolitan Statistical Area, this Board action shows confidence in our
Bank’s viability, outlook, and vision.” stated Tommy L. Moore, Chairman of the Board of Directors.

–submitted by Mary Ann Miller, VP of Business Banking and Community Relations