VisionBank founders join Old Dominion National

Two executives who were trying to create a new Northern Virginia bank instead have joined Tysons-based Old Dominion National Bank.

Old Dominion announced Tuesday that Melinda H. McClure has been named its executive vice president and chief strategy officer while Richard D. Horn will become executive vice president and general counsel.

McClure was chairman and CEO and Horn was chief operating officer and general counsel of McLean-based VisionBank, a financial institution that was in organization.

VisionBank has withdrawn previously submitted applications to bank regulators to become a Virginia chartered commercial bank.

Industry observers had expected VisionBank to become the first new bank to form in Virginia in a decade. 

Old Dominion said the move by McClure and Horn was approved by the boards of both banks. The bank said it expects it will add other VisionBank founders to its board of directors and regional advisory board.

Old Dominion has $325 million in assets and more than $265 million in deposits.

The bank operates five full-service branches and employs nearly 70 people, many of whom came to Old Dominion after their banks were acquired by larger institutions.